There are plenty of financial advisors in the world; it seems there is at least one in every town! For most people, the decision to choose an advisor might come down to who is close to home, who has more experience, and who their friends or co-workers recommend. But when you’re a federal employee, you must confront an additional criteria for choosing a financial professional: Does this person understand your unique retirement system?
Some general retirement planning advice applies to everyone, or at least most people. But your retirement plan is structured very differently from most plans in the private sector. You need to carefully choose a financial advisor who can help you identify unique opportunities and benefits available to you.
A Fed-focused Advisor focuses on the federal employee retirement system to become a specialist in this area. This person can help you fine-tune your plans to include issues that affect you specifically, such as:
- choosing the investment allocations that fit your specific needs
- diversifying your portfolio, based on your risk tolerance, desire for growth, and retirement income requirements
- help you avoid short-term mistakes and focus on long-term goals
- design a distribution plan and efficient income strategy once you reach retirement
- preparing for tax liability issues
It is preferable to conduct these activities with a Fed-focused advisor who understands the complexities of the federal retirement system. However, you might not find this type of advisor practicing in your hometown, so what do you do?
With today’s technology, we can conduct appointments via phone or even live video stream, so there is no need to settle for an advisor who lacks expertise in your situation. Licensing from oversight organizations such as FINRA and SIPC applies on a national level, meaning you’re free to choose a Fed-focused advisor in any state.
We are Fed-focused Advisors, and we work with clients around the country. To learn more about your federal retirement benefits, and devise a strategy for a satisfactory retirement, give us a call. We will be happy to help you.