WASHINGTON, June 21, 2016 /PRNewswire/ -- Last year, when the Federal Reserve Board asked, more than half of all respondents admitted they were not confident or just slightly confident when it came to making the right retirement investment decisions. Indeed, the Fed's report expressed alarm at how unprepared investors might be to make the best possible choices for themselves without outside assistance.
Chartered retirement planning counselor Rodger Alan Friedman, CRPC®), is worried too. He says, "Getting the retirement equation right is no more a do-it-yourself exercise than home root-canal kits … The vast majority of Americans will not thrive in retirement. That is reserved for people who understand the risks they face in the later stages of their lives. They acknowledge that preparation is necessary and they do the intelligent thing—they seek help."
In his new book, Fire Your Retirement Planner: You! Concise Advice on How to Join the $100,000 Retirement Club, Friedman builds a case for why amateurs are not up to the challenge of maximizing their retirement assets.
He also suggests three steps to take now to get serious about saving for retirement. They are:
- Carry a notebook for 30 days in which you write down everything you spend for the month. Include bills you pay automatically. When the month is up, divide the data into two groups: needs and wants. Pay attention to how much you spend for things you don't need.
- Discuss your retirement benefits with your company's benefits department to become better informed of your options.
- Ask people you trust to offer recommendations for financial planners they use. Interview three or four planners to find a professional you feel comfortable with who works with people like you. Share the data you collected in steps one and two with that person.
Friedman's new book, Fire Your Retirement Planner: You!: Concise Advice on How to Join the $100,000 Retirement Club, can be purchased on Amazon for $13.95.
ABOUT THE AUTHOR
Rodger Alan Friedman is a chartered retirement planning counselor and financial advisor with more than 30 years' experience in the industry. He is also the author of Forging Bonds of Steel: How to Build a Successful and Lasting Relationship with Your Financial Advisor.
AVAILABILITY: Washington, D.C. area, nationwide by arrangement and via telephone
CONTACT: Rodger Alan Friedman, (844) 3MY-PLAN; Email
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SOURCE Rodger Alan Friedman