Why Retirement Planning Should Be Your New Year’s Resolution

It doesn’t matter if retirement is five years away, ten years away, or even twenty years away or more. As a financial advisor, you know the importance of planning your retirement as early as possible. This allows you to make better financial plans, adjust for market changes, and get the results that you want for your retirement years without impacting yourself too much in the present day. Despite their intimate knowledge of the subject and helping many of their own clients do the same thing, too many RIAs are putting their own succession planning on the back burner.

But 2017 should be different. This should be the year that you make your plans for retirement no matter how far off it may be. There are so many great reasons to make this year the year you finally get around to planning your retirement.

Why 2017 Is The Year for Retirement and Succession Planning

It’s never too early to start, so you might as well start now.

Retirement planning isn’t something you should do in the final years of your career. The best succession planning happens at least three years before retirement, and 5 to 10 years is even better. Even if you are just starting out as a RIA, it’s a good idea to keep retirement and succession planning on your radar. Succession planning can help you gracefully leave the business if you have to unexpectedly, while your retirement planning can take years of careful financial stewardship.

You might be forced to start soon anyway.

There is a good chance that sometime soon, succession planning isn’t going to be optional. The government and Federal oversight commissions are considering rules that would make this sort of planning mandatory. Doing it now not only gets it off of your plate but keeps you from scrambling to get it done down the road.

Accidents happen and you can’t predict tragedy.

It would be nice if all RIAs could work as long as they wanted to and just retire whenever they are ready. Unfortunately, that’s not always the case. You know from helping your clients that you have to have a backup plan for tragedies and unexpected events. If you had to suddenly leave your career, would your clients be taken care of? Who would take over managing their accounts? Thinking about these things isn’t something that has to wait for your retirement years. It’s something that you can–and should–be doing now.

We can help.

It’s easier than ever to get the help you need to make your RIA succession planning and retirement planning easier. advisorRETIRE™ can help you customize a plan for retirement that helps you transition out of the business while still ensuring your clients are well cared for as they move to a new advisor. Plus, you can sell your business and build up your retirement nest egg. Let us show you how it’s done and walk you through our tried-and-tested methods. Give us a call or contact us through our website to learn more and get started with retirement and succession planning in 2017.