Entrepreneurship Wednesday: Managing Retirement Accounts

I have a few retirement accounts set up. Can you provide me with a list of financial planners to help me with my retirement questions and concerns?

—M. Jones
New York

First, you need to determine whether you’re at a stage in your life where you need a financial planner. Not everyone requires one. A lot of investors don’t realize that virtually all of the reputable investment firms that administer retirement savings accounts have well-informed customer assistance representatives who can answer basic questions about your accounts, investing strategy, and even suggest investment products to suit your needs.

I’ve had a Roth IRA with Fidelity for more than a decade, and at least twice a year, I’ve called on the company’s account representatives to answer specific questions regarding asset allocation and diversification in my portfolio. When I got married, they gave my wife and me advice on combining our retirement accounts—all for free. Charles Schwab, ING, and other firms have similarly helpful reps.

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Keep the Faith!

Until next time,
~E