%20(1).png)
%20(1).png)
Financial advisors, planners, and retirement specialists fill important but often misunderstood roles in financial planning. According to the Federal Reserve, only 31% of non-retired Americans feel their retirement savings are on track.
Understanding when and how to work with a financial professional can help bridge this confidence gap.
Originally published: December 24, 2024
Think of financial planners as architects for your financial life – past, present, and future. They help organize everything from insurance policies and monthly payments to credit cards and investment goals.
This becomes especially valuable when your financial life grows more complex, whether through multiple income streams, growing career earnings, or competing financial priorities.
True financial planners, particularly those with fiduciary responsibilities or Certified Retirement Income Planner credentials, work backwards from your future goals.
They don't just help you accumulate wealth – they ensure you can use that wealth effectively throughout retirement through strategies like maximizing Social Security benefits, managing required minimum distributions (RMDs), and building sustainable retirement income streams.
Your late 20s mark an ideal time to meet with a financial planner, regardless of your debt situation or career stage. This timing allows you to understand how your various financial pieces work together while you still have decades of compound growth ahead.
A skilled planner helps you:
Most importantly, they provide objective guidance when you face complex financial decisions that are difficult to evaluate on your own.
Beware of "financial planners" who are actually salespeople in disguise. True financial professionals – whether Certified Financial Planners (CFPs) or Registered Investment Advisors (RIAs) – put your interests first and provide comprehensive advice, not just product recommendations.
Red flags include:
Remember, retirement planning isn't just about accumulating a target number and selling off assets. It requires sophisticated income strategies that blend Social Security optimization, dividend income, and thoughtful portfolio withdrawals.
As your financial life becomes more sophisticated, you'll face increasingly complex decisions. A qualified financial planner provides both expertise and accountability, helping you understand not just what to do but why it matters for your long-term security.
Savvly's Longevity Benefit is designed to help investors build potential income for the later years of retirement. It is not insurance, not a guaranteed product, and not FDIC insured. Learn more at savvly.com/disclosures.
A financial advisor is a professional who helps individuals and organizations with financial planning decisions related to saving, investing, insurance, taxes, estate planning, and retirement. Advisors may charge fees on an hourly basis, as a percentage of assets under management (AUM), or through commissions on products sold. The specific services offered vary based on the advisor's qualifications, specialization, and compensation structure.
A Certified Financial Planner (CFP) is a credential issued by the CFP Board, requiring completion of a specified education program, passing an exam, accumulating work experience, and adhering to a code of ethics. A registered investment advisor (RIA) is a firm or individual registered with either the SEC or a state securities regulator to provide investment advice for compensation. The SEC maintains a database of registered advisors at adviserinfo.sec.gov.
According to the Federal Reserve's Report on the Economic Well-Being of U.S. Households, only 31% of non-retired Americans feel their retirement savings are on track. Working with a qualified financial professional is one approach individuals use to address the gap between current savings and retirement goals.
Common recognized credentials include CFP (Certified Financial Planner), CFA (Chartered Financial Analyst), CPA/PFS (Certified Public Accountant with Personal Financial Specialist designation), and ChFC (Chartered Financial Consultant). The FINRA BrokerCheck tool and the SEC's Investment Adviser Public Disclosure database both allow the public to look up an advisor's registration history, credentials, and any disciplinary actions.
This article is for informational purposes only and does not constitute financial, tax, or investment advice. Consult a qualified financial professional before making retirement planning decisions.
Disclosures
The information on this page is provided for educational purposes only and is not intended as investment, legal, or tax advice. It is designed solely to illustrate how longevity-linked investment benefits may work under certain assumptions. Actual results will vary. All illustrations, examples, and case studies are hypothetical and are intended to demonstrate potential scenarios — not to predict or guarantee actual outcomes. They do not represent the performance of any individual investor, portfolio, or account.
Key Assumptions Used in the Illustrations
Life expectancy and mortality projections are based on the most recent Social Security Administration (SSA) tables available at the time of simulation.
In the event of death or early withdrawal, hypothetical scenarios assume that investors who exit early, or their estate in the event of death, may receive 75% of the lesser of the initial investment or current market value, plus 1% for each full year the account was active. Case studies assume standardized market growth of 8% annually and do not incorporate unexpected market volatility, inflation, changes in interest rates, or changes in an investor's personal circumstances.
Simulations may assume a 3% annual early withdrawal rate prior to payout or death. All figures shown are net of fees. No forecast, projection, or hypothetical return should be relied upon as a promise or representation of future performance.
Past performance is not indicative of future results. The 8% annual market growth rate used in illustrations is a standardized assumption for modeling purposes only and does not represent the historical or expected performance of any specific investment. Note that early or voluntary withdrawals by other participants can affect fund performance and the size of distributions, and that a higher-than-expected number of participants reaching payout milestones may reduce the per-participant benefit received.
Savvly's Longevity Benefit is not a bank product, not FDIC insured, not insured by any federal government agency, not a guaranteed or insured investment, and not insurance. Investment values may decline.
Savvly's Longevity Benefit may not be suitable for all investors. Eligibility to invest is subject to qualification requirements and not all investors will be eligible. Investors should carefully consider their investment objectives, risk tolerance, time horizon, and financial situation before investing. See savvly.com/disclosures for current eligibility criteria, fees, risks, withdrawal terms, and fund assumptions.
This content is published by Savvly, Inc. Savvly has a financial interest in the products described and this content should not be interpreted as independent financial research or analysis. Investors should carefully evaluate their own circumstances and consult a qualified financial professional before making any investment decision.
