You’re 10 years or less away from retirement. You can clearly see the next phase of your life down the road and it’s coming up fast. Are you ready for it? Do you have a comprehensive plan in place so you don’t outlive your savings?
…….if you haven't asked your financial advisor how they are being compensated, now is the time to ask……
Former Federal Reserve Chairman Alan Greenspan recently said he sees asset bubbles everywhere in financial markets globally. And now, former Chairman Ben Bernanke sees policy errors making the next inevitable recession more problematic.
Remember that a person selling a product can never be a true advisor, as their interest lies in selling their product and meeting their targets. So, who should someone seeking advice turn to? The best bet for the investor would be a fee-only advisor, who only offers advice, just like a doctor/lawyer and does not sell products or get any remuneration from it. In such a case, the advisor would work in their best interest, offers the most appropriate solution and charges a fee for it.
………"Investors must insist their advisors put in writing they will do certain things that the best advisors today already do," said Knut Rostad, executive director of the Institute. "The Investor Bill of Rights will help them."
