Strategic Asset Conservation will host a free seminar entitled Surviving and Thriving Amid the Coming Global Recession, on Nov. 3, at 5:45 p.m., at Las Sendas Golf Club.
Thomas K. Brueckner, president and chief executive officer of Strategic Asset Conservation, a conservative wealth management firm, with clients in 18 states and six countries, will be the seminar presenter.
To request a reservation online, visit go2knight.com/register. You also can call the 24-hour phone message line at (480) 661-6800. Calls will be returned between 8:30 a.m. to 5 p.m., Monday through Friday. With seating limited, reservations are required.
Register for the informative seminar by Oct. 15, and receive a free copy of the bestselling book Stress-Free Retirement.
Prior to the seminar, here are a couple questions to ponder:
Have you stopped to ask yourself if you are getting the right advice for this new stage of life? How do you know when it is time to get a second opinion on your finances?
If you were having heart trouble, you wouldn’t think twice about seeing a cardiologist. It’s only logical to see a specialist to assess your current health and risk factors. The same should hold true for your financial health.
As you approach retirement, you have a different set of concerns and challenges. The money it has taken you 40 years to save must now last you the next 20 years or more.
In an article in Smart Money magazine, author Glenn Ruffenach made the point that the advisor who got you to retirement is very often not the specialist you will need to get you through retirement.
If you are experiencing any of these six financial situations, you should consider getting a Financial Second Opinion:
- Your financial advisor downplays your concerns—One of the most frequent concerns we hear when meeting potential clients is the fact their financial advisors simply ignore their concerns. In a study of financial advisors and their clients, conducted by Russ Alan Prince and David Geracioti, the researchers found advisors have a history of being significantly disconnected from their clients’ actual needs. More than 88 percent of clients, when asked what their top concern was, overwhelmingly said, losing their wealth. In stark contrast, when advisors were asked the same, only 15.4 percent said losing their wealth was the top concern of their clients.
- Your life situation has changed—A divorce in the family, an elderly parent moves in with you or a major medical issue all are life-altering situations requiring a re-evaluation of your finances.
- You are preparing for a major expense—A child’s wedding, the purchase of a second home or a desire for extensive travel all are joyous events, which also require planning to make sure these dreams are feasible.
- You are getting ready to retire—The path you took to get to retirement is not the same one you should use to get through retirement. Not only do your needs change, but your risk tolerance also changes. This is particularly important if your current advisor recommends that you stay heavily invested in a volatile stock market. That advice may work for a younger investor who has more working years ahead and time to weather another financial storm.
- You believe your portfolio includes too much risk—In the past 15 years, we have seen stock market swings that have made even the most seasoned market experts wince. Investments made in 2000 and 2007 only recently have recouped their value, and many who have retired, or are about to retire, don’t want to think about what would happen if another bear market were to hit and devastate the money they have worked so hard to accumulate.
- You are considering a legacy plan for your heirs—Many retirees want to enjoy their retirement, but also want to leave a legacy for their children and grandchildren, which provides resources now and in the future. Legacy planning requires mitigating the risk of tax implications and avoiding numerous financial traps.
At the end of the day, your financial advisor works for you, not the other way around. It’s up to you to advocate for yourself and take the necessary steps to make sure your best interests are protected. Getting a second opinion can confirm a good plan or it can protect you from a bad one. After working so hard to save for this next stage of life, you owe it to yourself to make sure you achieve the retirement you deserve.
For more information, call (480) 661-6800, or visit www.go2knight.com. Strategic Asset Conservation is located at 8800 E. Raintree Drive, Suite 220, Scottsdale.
In addition to being president and chief executive officer of Strategic Asset Conservation in Scottsdale, Thomas K. Brueckner is a 2011 Advisor of the Year national finalist, a radio talk show host and an Arizona Premier Financial Advisor. He may be reached for comment at www.go2knight.com.