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How FAs Can Stay Ahead of New Retirees’ Concerns  

Despite decades of preparation for retirement, many new retirees often face financial surprises—such as dealing with inflation. A recent CNBC article offered tips for FAs in helping clients in this situation.

finance 4599823 640 smallFirst, FAs can help retirees who are feeling lost identify what matters most to them, says Blair duQuesnay, a CFP and lead advisor at Ritholtz Wealth Management. For most, that’s staying connected to friends and family and spending time together.

Another big challenge is figuring out how to replace a regular paycheck in retirement. This anxiety among new retirees can be managed, says Cathy Curtis, a CFP and founder of Curtis Financial Planning. Curtis helps set up either monthly payments or a yearly payment to cover expected expenses.

Decumulation, including liquidating stocks during a down market, can also be stressful, duQuesnay says. Therefore, it’s important to remind clients that retirement is not an end date—and to plan for the possibility of a long life.

As for inflation, advisors can review exactly how much inflation is impacting a client’s spending and help them make any needed adjustments.

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