Q. My husband and I are 51. We will retire in about 10 years. How do we find the right financial advisor that will help us understand what we need for retirement, and what we need to do if we won’t have enough to meet our needs?
A. I suggest you start your search by visiting my website at www.variplan.com. After that, the best advisor directory I know of is the Paladin Registry at https://www.paladinregistry.com/.
You should only consider an advisor who is experienced, competent, accountable, fiduciary, affordable and cost effective. Your advisor’s fees should represent no more than 0.75 percent of your liquid assets per year. Your total investment expenses, including advisory fees, transaction costs and management expenses for the investment program recommended by your advisor should not exceed 1 percent of your liquid assets per year. Oh, and your advisor should be well-versed in federal benefits and maximizing the benefit you receive from them. And any advisor who recommends that you move money from your TSP account to an IRA should be ruled out.
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