Why You Must Have A Customizable Retirement Plan?

By Daniella Rand

Surely, you’ve heard of a retirement plan. You might even have one through an employer or union.

Do you know the difference between your typical, cookie-cutter employer-sponsored retirement plan and a living, breathing, customizable retirement plan that addresses your personal needs and goals?

If not, it’s high time you reached out to a licensed financial advisor to learn more about designing and implementing your customizable retirement plan. If you need more convincing before you make that leap, consider these six reasons to have a retirement plan that actually works for you.

Daniella Rand

It Accounts for Your Unique Needs and Goals, Not What Some Distant Portfolio Manager Thinks You’re After

Your custom retirement plan is the product of multiple conversations with a seasoned financial advisor — someone who’s paid to act in your best interests and help you navigate the pitfalls of modern planning and investing. 

By contrast, non-customized plans come off a glorified assembly line. They’re designed to be just good enough to remain viable, and they may not even match the market over time. They certainly don’t account for your unique needs and goals.

It’s Flexible and Resilient, Built to Adjust to New Inputs and Facts on the Ground

Those unique needs and goals are subject to change, as any retirement investor of a certain age knows. Whether due to major life changes, like the arrival of a new child or a looming college tuition bill, or market forces beyond your control, it’s a safe bet that you’ll need to adjust your retirement plan over time. A custom approach makes that easy.

It’s More Likely to Leverage Active Management Strategies That Consistently Outperform the Market

Your custom retirement plan isn’t only resilient. It’s also designed to outperform the market on a consistent basis, using active management strategies rarely employed by cookie-cutter plans. 

It’s Backed by the Expertise of an Experienced, Human Team

The advent of automated portfolio management software has been good for investors and financial advisors. 

Unfortunately, it has also removed the human element from the lower end of the retirement planning market. When you choose an assembly-line retirement plan, you put your financial destiny in the hands of a complex algorithm, not a living, breathing human. For this reason alone, investors who prefer hands-on service have every incentive to develop a custom plan in consultation with an expert team.

You Can’t Predict the Future, But Your Custom Retirement Plan Is There When You Need It

No one knows what tomorrow will bring, but investors with custom retirement plans know this much: Their strategies will follow wherever their lives — and the markets — take them. Can you say the same for your cookie-cutter retirement plan?

Invest for What’s to Come

Every investor must chart their own course. Some truly believe that a cookie-cutter retirement plan offers the best value; more power to them. But most recognize the appeal of a customized plan that aligns with and responds to their unique needs, goals, and tolerance for risk. 

Are you among them? If so, today’s the day to take control of your retirement once and for all.