What Questions to Ask Your Financial Advisor About Retirement
Critical questions to ask your financial advisor about retirement planning to ensure your strategy aligns with your goals, understand fees, and maximize your financial security in retirement.
1Based on my current savings and income, when can I realistically retire?
Click to see why this works
Based on my current savings and income, when can I realistically retire?
Click to see why this works
Why this works
Retirement timeline clarity helps you set realistic expectations and adjust savings strategies if the timeline doesn't match your goals.
2How much money will I need to retire comfortably given my lifestyle expectations?
Click to see why this works
How much money will I need to retire comfortably given my lifestyle expectations?
Click to see why this works
Why this works
Personalized retirement number accounts for your specific spending, healthcare, and longevity projections rather than generic rules of thumb.
3What is my current asset allocation, and how should it change as I approach retirement?
Click to see why this works
What is my current asset allocation, and how should it change as I approach retirement?
Click to see why this works
Why this works
Appropriate risk balance protects your nest egg while still allowing growth necessary to sustain decades of retirement.
4How are you compensated, and what fees am I paying for your services?
Click to see why this works
How are you compensated, and what fees am I paying for your services?
Click to see why this works
Why this works
Fee transparency ensures you understand costs and whether commission-based advice might create conflicts of interest.
5What is your strategy for generating income during retirement?
Click to see why this works
What is your strategy for generating income during retirement?
Click to see why this works
Why this works
Income generation approach determines cash flow reliability and whether you'll outlive your money or leave a legacy.
6How should I factor in Social Security, and when should I start taking benefits?
Click to see why this works
How should I factor in Social Security, and when should I start taking benefits?
Click to see why this works
Why this works
Claiming strategy significantly impacts lifetime benefits, and coordination with other income sources maximizes overall retirement income.
7What is your recommended withdrawal rate, and how will it be adjusted over time?
Click to see why this works
What is your recommended withdrawal rate, and how will it be adjusted over time?
Click to see why this works
Why this works
Sustainable withdrawal rates prevent depleting your portfolio while maintaining your lifestyle throughout retirement.
8How do you account for inflation in my retirement plan?
Click to see why this works
How do you account for inflation in my retirement plan?
Click to see why this works
Why this works
Inflation protection ensures your purchasing power doesn't erode over 20-30+ years of retirement.
9What healthcare costs should I plan for, including Medicare gaps and long-term care?
Click to see why this works
What healthcare costs should I plan for, including Medicare gaps and long-term care?
Click to see why this works
Why this works
Healthcare is often the largest underestimated retirement expense, and planning prevents financial devastation from medical needs.
10How tax-efficient is my current retirement strategy?
Click to see why this works
How tax-efficient is my current retirement strategy?
Click to see why this works
Why this works
Tax planning can save hundreds of thousands over retirement through strategic withdrawals and Roth conversions.
11What happens if one spouse passes away - how does that change the financial plan?
Click to see why this works
What happens if one spouse passes away - how does that change the financial plan?
Click to see why this works
Why this works
Survivor planning ensures the remaining spouse can maintain their lifestyle despite reduced income and changed tax status.
12How are you stress-testing my portfolio for market downturns?
Click to see why this works
How are you stress-testing my portfolio for market downturns?
Click to see why this works
Why this works
Sequence of returns risk can devastate early retirees, and stress testing reveals whether your plan survives bear markets.
13What is your recommended approach to managing Required Minimum Distributions?
Click to see why this works
What is your recommended approach to managing Required Minimum Distributions?
Click to see why this works
Why this works
RMD strategy affects taxes and portfolio longevity, especially for those with substantial pre-tax retirement accounts.
14How does your fee structure compare to industry standards?
Click to see why this works
How does your fee structure compare to industry standards?
Click to see why this works
Why this works
Competitive fee assessment ensures you're getting value and not overpaying for services you could get elsewhere.
15What is your plan if I need to access more money than projected due to emergencies?
Click to see why this works
What is your plan if I need to access more money than projected due to emergencies?
Click to see why this works
Why this works
Flexibility and contingency planning protect against unexpected expenses without derailing the entire retirement strategy.
16How do you incorporate estate planning into my retirement strategy?
Click to see why this works
How do you incorporate estate planning into my retirement strategy?
Click to see why this works
Why this works
Legacy goals affect investment choices and withdrawal strategies, especially regarding tax-efficient wealth transfer.
17What credentials and certifications do you hold?
Click to see why this works
What credentials and certifications do you hold?
Click to see why this works
Why this works
Proper credentials like CFP ensure adequate training and fiduciary duty to act in your best interest.
18How often will we review and adjust my retirement plan?
Click to see why this works
How often will we review and adjust my retirement plan?
Click to see why this works
Why this works
Regular reviews ensure the plan adapts to life changes, market conditions, and evolving goals rather than becoming outdated.
19What percentage of your clients successfully retire according to plan?
Click to see why this works
What percentage of your clients successfully retire according to plan?
Click to see why this works
Why this works
Track record provides insight into their effectiveness beyond just managing investments during accumulation phase.
20What happens to my account and plan if you retire or change firms?
Click to see why this works
What happens to my account and plan if you retire or change firms?
Click to see why this works
Why this works
Continuity planning protects your interests and ensures seamless service if your advisor's situation changes.
Working with Financial Advisors on Retirement
Expert tips and techniques for getting the most out of these questions.
Best Practices
Get Everything in Writing
Request written retirement projections, fee disclosures, and strategy recommendations to review carefully and keep for records.
Verify Fiduciary Status
Ensure your advisor is a fiduciary legally required to act in your best interest, not just sell suitable products.
Get a Second Opinion
For major retirement decisions, consider consulting another advisor for validation - your retirement security is too important to risk.
Educate Yourself
Learn retirement planning basics so you can evaluate advisor recommendations critically rather than accepting them blindly.
Key Planning Areas
Income Planning
Risk Management
Common Pitfalls
Don't Accept Generic Advice
Retirement plans should be highly personalized to your situation - beware of one-size-fits-all recommendations.
Avoid High-Fee Products
Commission-based advisors may push expensive annuities or funds - understand all costs before committing to products.
Don't Ignore Tax Implications
Retirement tax planning is complex and crucial - ensure your advisor has expertise in tax-efficient strategies.