facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog external search brokercheck brokercheck Play Pause
How a Financial Advisor Can Help With Your Railroad Retiement Thumbnail

How a Financial Advisor Can Help With Your Railroad Retiement

Video Retirement Financial Planning

Greetings, everyone, and welcome to another installment of the Highball Advisors Railroad Retirement whiteboard. I'm John McNamara from Highball Advisors, and today we're discussing the role of a financial advisor in navigating your railroad retirement. Do you need a financial advisor? The answer may vary depending on your circumstances, but if you're considering it, here's what you should keep in mind about their potential role in your retirement planning.

First and foremost, a financial advisor can help you stay on course with your investment plan. While this is a standard offering, it sets the foundation for the broader financial assistance they can provide. Beyond investments, they can assist you with crucial aspects such as tax planning, ensuring that your hard-earned income isn't unnecessarily lost to taxes. Estate planning is another critical area where a financial advisor can provide guidance, ensuring that your assets are distributed according to your wishes.

As you approach retirement, long-term care planning becomes increasingly important, and a financial advisor can help you prepare for potential healthcare expenses. They can also assist with cash flow planning, ensuring that you have a clear understanding of your financial situation in retirement.

Understanding your railroad retirement benefits is vital, and a financial advisor can help you navigate the complexities of when and how to claim them, as well as how they interact with other sources of retirement income, such as pensions or spousal benefits.

Industry-specific knowledge is also valuable, particularly in the railroad sector where unique retirement rules apply. An advisor with expertise in this area can provide insights that are tailored to your specific circumstances.

Considerations such as time and stress are important as well. Retirement planning can be complex and time-consuming, and a financial advisor can help alleviate the burden by managing these aspects for you. Additionally, they can help you keep your emotions in check when it comes to investment decisions, ensuring that you stay on track with your long-term goals.

As you search for a financial advisor, consider these points to ensure that they align with your needs and goals. If you're approaching retirement and want to discuss these topics further, feel free to reach out to me. Don't forget to click the notification bell to stay updated with our latest videos. Until next time, take care, stay safe, and stay on track. Goodbye for now!

Get Free Railroad Retirement Assessment

Disclaimer: This article is provided for general information and illustration purposes only. Nothing contained in the material constitutes tax advice, a recommendation for purchase or sale of any security, or investment advisory services. Highball Advisors encourages you to consult a financial planner, accountant, and/or legal counsel for advice specific to your situation. Reproduction of this material is prohibited without written permission from Highball Advisors, and all rights are reserved from Highball Advisors, and all rights are reserved.