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What to look for when selecting a senior financial advisor in Albuquerque
Choosing an excellent financial advisor for seniors can seem daunting, particularly if you’re not certain how to get started. You don’t have to make this major life decision alone. According to a study conducted in 2020 by Northwestern Mutual, only 29 percent of Americans work with a financial advisor. Thorough research is invaluable to selecting a qualified advisor who can assist the senior in your life as they plan for retirement. During your search, you’ll want to consider the kind of guidance you and your loved one needs, such as budgeting for long- or short-term healthcare, investments, and more.
Don’t hesitate to explore free resources for senior financial planning. You don’t have to rely strictly on one Albuquerque financial advisor for seniors. Through the internet, you can reach out to banking institutions, the AARP Foundation Tax-Aide, and other resources to help you decide on a quality financial advisor for your loved one.
Facts and figures about senior financial advisors in Albuquerque
How much should seniors save for retirement in Albuquerque?
While the savings a senior should have for retirement can vary depending on the area, World Population Review looked into the savings necessary to live comfortably in retirement. Your loved one will have a variety of expenses to cover, including bills, groceries, and senior services. Below, you can review a comparison between the savings in general across the U. S. and New Mexico specifically.
|Savings Required to Live Comfortably||Average Retirement Age||Average Life Expectancy||Average Yearly Expenses|
The savings necessary for your loved one to retire comfortably in New Mexico are lower than the national average; however, elders tend to be more vulnerable to financial fraud and scams. Enlisting the guidance of a senior financial advisor in Albuquerque can give your loved one confidence that their finances are under the protection of a trustworthy and qualified person who has their best interests at heart.
How much might seniors in Albuquerque have saved for retirement?
Saving for retirement is often a lifelong process for Americans, given the amount typically required to thrive in the later stages of life. Working with an Albuquerque financial advisor for seniors can allow your loved one to meet their financial goals before retirement. Below, you can see how much elder Americans typically save for retirement at different ages, according to CNBC.
While expenses can vary, seniors can work with an expert financial advisor who can guide you and your loved one through the challenges that can arise when managing finances through retirement. An experienced advisor has the qualifications and training necessary to provide the type of services that are most suited to the needs of the senior in your life.
Why it's important to work with a trustworthy financial advisor in Albuquerque
A trustworthy financial advisor can help your loved one in a variety of ways. Ensuring that the senior in your life's finances are organized is invaluable to allowing them to enjoy their golden years as they age in place, regardless of the services they need to thrive. A trusted advisor can keep them safe from scams and fraud, as well as help them to make decisions that are in their best interests. A certified senior finance advisor can give your loved one the individualized support they need to remain financially secure and independent without worrying about running out of the funds they need.
Financial advisors for seniors in Albuquerque
Providing the senior in your life with a feeling of financial security can be just what they need to feel confident as they age in place. The assistance available with a certified senior financial advisor in Albuquerque is one of the best solutions to your loved one's needs, regardless of where they are with their savings. Don't hesitate to reach out to SeniorsMatter to find a qualified financial advisor for the senior in your life today.