When Should I Get a Financial Advisor? - Retirement Talk with Eric Kearney, Cape Coral, FL

Visit Eric Kearney at www.retirementwealthllc.com/
Episode 58
Retirement Talk with Eric Kearney in Cape Coral, FL. Eric Kearney is an author, a radio host, a fiduciary and Southwest Florida's premier investment advisor.
I'm so glad we have both of your perspectives today because one of the things we're going to do is talk about how you can evaluate what kind of financial advisor to work with. And when is it appropriate to get a financial advisor?
When can you possibly manage your assets on your own or work with an advisor who can help you get through retirement? And I, I think there's going to be some, some big questions in there. Hopefully you guys can add some color to today.
We've worked for 30 or 40 years. We've saved up money in those retirement accounts, maybe in our investment accounts. Uh, our spouse is ready for us to be home seven days. What do we do with those retirement accounts? Do we leave them? A lot of folks like to do that. They say, well, my employer, it's done pretty well in there.
It's had a lot of gains, right? What, what? What's our first step when we're jumping to retirement? I mean, where's the income going to come from, right? I mean, we always talk about that. You're leaving your job that has given you a paycheck on a regular basis. Now all of a sudden you have a pile of assets, and now we have to take your lifestyle.
How do we peel off of those assets safely over time and outpace inflation? Worry about taxes. We've, we've deferred all the taxes for these years. So again, you go back to this pile of money and you have to peel off of that. Oh, and then, by the way, it has to last the rest of your life. So it's overwhelming to a lot of people.
We go from accumulation to deaccumulation, and it's amazing to me. I say this all the time, but I can't believe how many people don't have an income plan. So this again, is what's separating our firm from a lot of other firms by doing that income planning Well, and it's not just the income plan, it's the full and total comprehensive holistic financial plan, right?
So if somebody's walking into an office and they're just getting pitched a product or a rate of return, Is that going to be somebody who's going to help them get through retirement safely? No, that's actually going to be the person that's eventually going to end up in our office because they're frustrated. I bought this product, I bought this tool, I invested in this.
I don't know where I stand. I don't know what direction I'm in. When the markets take a tumble, they're not really sure, and they're losing confidence in their current advisor. Now all of a sudden they're coming back and they want that full-blown financial plan. Like the comprehensive plan that you said, spike.
Right. All right, Joseph, so people walk into your office. They've just retired. They don't know if it's going to last all the way through their retirement, their nest egg or not. How do you as a financial advisor help people know or be prepared to run out of money in retirement? I mean, can, can you make. An extension on what they have.
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