What to look for when selecting a senior financial advisor in Phoenix
If you’re looking up Phoenix financial advisors for seniors, you’ll see that there are many different options to choose from. This can make it tough to figure out which financial advisor is the best fit for your loved one. But you’ll figure it out as long as you have the right approach.
Begin by taking a moment to consider what exactly you need from a senior financial advisor in Phoenix. Do you want to meet with the Phoenix financial advisor for seniors in person? Or are you okay with online meetings? Answering questions like these will help you narrow down your options.
You’ll also want to make sure that you work with someone who has the proper qualifications. It’s why we recommend that you look for candidates who have professional certifications relating to the management of senior wealth. Regardless of who you end up picking, it’s important to do your research before making a selection. Seasons makes that easier to do.
Facts and figures about senior financial advisors in Phoenix
How much should seniors save for retirement in Phoenix?
The exact amount that a person should save for their retirement depends on a few different factors, including where they live. For example, take a look at the following table with data from World Population Review. It highlights what the average senior should try to have saved by the time that they retire in Arizona and compares it to the national average.
| Savings Required to Live Comfortably | Average Retirement Age | Average Life Expectancy | Average Yearly Expenses | |
|---|---|---|---|---|
| USA | 947819.32 | 64 | 78.2 | 54708.22 |
| Arizona | 1007349 | 63 | 79.2 | 52140 |
A Phoenix financial advisor for seniors should tell you that you need to save a little over $1,000,000 to retire comfortably in Arizona. If that sounds tough for you to do, don’t worry. Prescott financial advisors for seniors can help you come up with a personalized solution that takes your unique financial situation into account.
Why are Phoenix seniors and others expecting to work past age 65?
A person’s later years should be a time for them to enjoy the parts of life they missed out on while having to work. However, many Americans expect to work past the age of 65 nowadays. Take a look at the following table, which features data from Northwestern Mutual, to learn why that’s true.
Will Keep Working After 65 Because They Don’t Have Enough Money
Will Keep Working After 65 Because They Don’t Feel Social Security Benefits Will Cover Their Needs
Will Keep Working After 65 Because of Rising Costs Including Healthcare
As you can see, about 78% of people who decide to work past the age of 65 do so because they fear they won’t have enough money saved to retire comfortably. That’s one of the reasons why working with Prescott financial advisors for seniors can be so valuable. Doing so could help you reduce your working years by helping you come up with a better plan.
Why it’s important to work with a trustworthy financial advisor in Phoenix
It’s really important to work with a financial advisor who you can trust. Otherwise, a senior risks falling victim to scams that could potentially defraud them out of their life’s savings. It’s not enough for a financial advisor to appear trustworthy when you communicate with them.
. You need to also look for some type of objective proof of their qualifications. That could come in the form of online reviews, such as the ones you’ll find through Seasons. Or an advisor could provide evidence by showing you the professional certifications that they’ve earned. Regardless of how you get it, you just need to make sure that you get this proof before trusting someone with your money.
Financial advisors for seniors in Phoenix
When you’re ready to find a financial advisor for seniors in the Phoenix area, look no further than Seasons. Our free resources are just what you need to sort through your options and figure out which of them is the right fit for your needs. Just let us know if you have any additional questions for us.
