Remember the days when you could retire and look forward to spending the remainder of your days in relative comfort?
You could rely on your pension, Social Security, and the flow of dividends and interest from conservative, safe stocks and bonds.
Those were the good old days!
Times have definitely changed. Today, we have:
And Americans are living longer.
Instead of expecting retirement to last 12-15 years, the average retirement can last as long as 30 years with retirees far more active than a generation ago.
Is it any wonder that personal retirement planning now requires more thought and more expert financial advice than ever before?
Because of the jump in life expectancy and the volatility of the market, preparing for their kids' college education, and saving for their own future, many pre-retirees ask, "At this rate, how will we make ends meet when we do retire?"
They are naturally concerned about their finances.
To complicate matters further, the Department of Labor's new fiduciary rule can make getting sound retirement advice harder and more expensive to get.
In order to comply with this new ruling, advisors and broker/dealers managing retirement assets must either move to a fee-based compensation model or sign a DOL "best-interest contract exemption," or BICE, with clients.
BICE stipulates that investment advisors can only earn "reasonable compensation" on non-fee-based products. If a client feels that their best interests have been violated, they can file a class action lawsuit.
JS Replogle & Associates answers all of your big questions, choosing financial options that benefit you, not me.
We'll discuss your current investment portfolio, possible budgeting changes, and how to keep growing your money.
As a fee-only advisor, there is never a question about where my interests lie—we work on your behalf always.