Planning for retirement can bring up a lot of questions, especially if you’re not sure where to begin. One question many people ask is whether they should work with a financial planner. While not everyone will take the same approach, understanding what a planner may offer—and how it relates to your personal situation—can help you consider your next steps.
Financial planner isn’t an official title or designation but a term that generally describes a financial professional who assist clients with the financial aspects of their life, including long term goals.
What a Financial Planner May Help With
A financial planner while not an official title or designation generally refers to someone who helps individuals and families organize their financial lives. When it comes to retirement, this may include helping you look at your income sources, estimate future expenses, and review your investment choices. Depending on their background, some planners may also talk through tax topics, insurance needs, or broader lifestyle factors.
If you’re unsure whether you want to work with a planner, it may help to think about where you currently stand. Do you already have a clear idea of how much you want to spend in retirement? Do you feel prepared to handle potential changes in the economy or your health? A planner can’t predict the future, but they may help you think through different scenarios.
Here’s a quick look at what a financial planner may help you organize:
| Topic | Examples Planners Might Cover |
| Income | Social Security, pensions, rental, or side income |
| Expenses | Housing, healthcare, travel, inflation |
| Investment Strategy | Account types, risk levels, long-term performance |
| Tax Planning | Withdrawal timing, Roth conversions, tax brackets |
| Insurance and Long-Term Care | Medicare, supplemental policies, long-term care planning, annuities |
| Estate and Legacy | Beneficiaries, charitable giving |
What to Consider Before Hiring Someone
Hiring a financial planner can be a personal decision based on your financial life and retirement goals. It’s worth noting that not all planners have the same training or offer the same services. Some may specialize in retirement, while others focus more broadly on budgeting or wealth building.
When deciding whether to meet with someone, you may want to ask yourself a few questions:
- Am I confident in how much I need to save or spend each year?
- Do I understand how taxes may affect my retirement income?
- Have I thought about how inflation or healthcare costs could impact me?
You may also want to think about whether your financial picture has become more complex over time. Someone approaching retirement with multiple income streams or accounts may find value in having a professional perspective.
If you’re thinking about retirement or want to learn how we can help you live retirement boldly and on your terms, contact Vantage Point.
Investment advisory services are offered through Vantage Point Financial, a registered investment adviser. Registration with any regulatory body does not imply any particular level of skill. This material is provided for informational purposes only and should not be construed as investment, tax, or legal advice. Working with a financial planner does not ensure financial success or prevent loss. All investments involve risk, including the possible loss of principal. Past performance does not guarantee future results. The scenarios presented are hypothetical and are intended for illustrative purposes only. They do not reflect actual client results and are not guarantees of future outcomes. Individual results will vary. Certain financial strategies may offer tax advantages, but outcomes depend on individual circumstances and are subject to change due to tax laws and other external factors. Vantage Point Financial does not provide legal or tax advice. Consult a tax professional. Retirement outcomes depend on a variety of factors, including individual savings behavior, market performance, health events, and other considerations. Certain statements herein may reflect the firm’s current views, expectations, or beliefs, which are subject to change without notice. For additional information about our services, fees, and disclosures, please refer to our Form ADV Part 2A, available at https://vantage-point.mwdevsite.com or upon request at no cost.
