The latest issue of "In the Vanguard" (from Vanguard) includes a couple of pages about saving for retirement. Two of the three interviewees in this article are: Stephen Utkus, director of the Vanguard Center for Retirement Research, and Jack Brod, head of Vanguard Asset Management Services. The last two paragraphs of the article:
"Should people get advice regarding investments and retirement?
"Mr. Brod: Yes, many people can benefit significantly from good, objective advice. There is a lot to consider, and having access to an experienced professional who can inform, educate, and advise should prove valuable. I would turn to someone who can be trusted, has the right experience, will not allow conflicts of interest to interfere, has fair prices and fully discloses all costs, and has the reputation of putting clients first.
"Mr. Utkus: Yes, talk to your financial planner about how to manage your money. AND talk to your doctor about managing health risks. The biggest risks you face as you age are not only financial risks but health risks too. The doctor will tell you - just like the planner - that you should have lost weight, quit smoking, and started exercising in your 30s, not your 60s! So a similar time principle applies - but that's another story."
I like the way Mr. Brod describes the financial planner who is likely to be the most help. Elle posts frequently here about health care costs and retirement and her points are well-taken. So is the above admonition about preparing for health care in retirement.
Elizabeth Richardson