You’re Retired – Now What? Managing your retirement investments and income

Without a doubt, retirement is a life-changing event. Perhaps you’re following your dream of selling your home, buying an RV and touring the country. Or maybe you’re sticking closer to home and spending more time with family. Regardless of what your retirement passion is, it needs to be funded by your investments and savings, which means some type of wealth management. When it comes right down to it, there are three ways to go about managing your funds.

DIY (Do It Yourself)

These are the people who enjoy managing their portfolio without the help of a professional. They spend copious amounts of their time reading, analyzing data, watching markets and making trades within their accounts. This is great – and congratulations to those making a success of it. Keep in mind that you should have steps in place for when you can no longer manage it yourself or if your spouse has to take over for you. By aligning yourself with a professional, you’ll have the peace of mind knowing that your money will be handled with the same care you gave it.

DIT (Do It Together)

This segment of the population works closely with their financial advisor, seeking guidance or simply bouncing around ideas. This involves research and analysis, similar to the DIY’er, but you have an ace in your pocket with a knowledgeable advisor. While nobody has a crystal ball to accurately predict market moves, it helps to have somebody on your side through the decision-making process. Also, when you are no longer able or interested in having such a large role in your retirement fund management, you can rely on your advisor to carry out your wishes.

DIWM (Do It Without Me)

One-third of the population wants nothing to do with managing their accounts and would rather have someone else do it for them. There is nothing wrong with this approach and, if this is you, be sure to choose the right financial advisor. If you are looking for an advisor, learn about them as much as possible. Check for certifications and specialties and have a clear understanding of their fee structure. Ultimately, you’re looking for someone who is a good fit with you on a personal and professional level.

At Meyer Wealth Advisors we want you to be comfortable and secure at every investment stage, from initial planning to living your retirement dream and all the financial milestones in between. We listen to you and help make a plan for all of your goals. Call us today at 630-896-7770 for more information.