By Mercury Wealth Management

12/06/2012 Different people have different types of relationships with their financial planners. They also get different kinds of results from them. Some people have a very hands-off approach to retirement investing while others check their investments and contact their planners on a nearly daily basis. You do not have to be a helicopter mom for your nest egg in order to ensure that it provides better results according to your goals and plans. But, if you do these things before you begin building your nest egg, you’re sure to get better results from your financial planner.



Set Clear and Precise Financial Goals—And Communicate Them Well



It’s not enough to have a vague idea of what your retirement plans may be. You need to be able to effectively communicate those plans to your advisor so that everyone is on the same page. Why is this so important? Your financial advisor can’t help you plan for all possible futures. You have to define the future you want to have and plan your future in that direction. Whether you’re looking for a cabin in the woods, a small cottage on the shore, or want to head off with the jet setter crowd when you retire, it’s important that everyone has the same vision and that you’re all working together to achieve it.



Be Realistic with your Expectations



While it would be nice if we could go into things with a one per cent effort and yield 100 per cent profits; that’s not the way the world works. You have to be willing to make some sacrifices today to get really big rewards when you retire. The other side of that is that you can’t save all your living for the day when you’re retired. Aside from the fact that no one is guaranteed to see that day there is the other fact that there are some memories and moments that simply can’t be bought. Set aside for the future, but be realistic enough to keep some money to spend today—making precious memories with the people you love. If you’re unrealistic about expectations, you’re tying the hands of your financial advisor in a really big way.



Revisit Goals and Plans Periodically



This is another important way to get the greatest results from your relationship with a financial advisor. You can’t simply make the plans and put them on the shelf for the next forty years. Tax laws change, goals change, and family situations change too. You need to sit down and talk with your financial advisor at least twice a year in order to see if anything needs to change in your investment plans.



The one thing you never want to do is leave your retirement investing and spending to chance. The earlier you develop a relationship with a qualified financial advisor the greater the odds are that you’ll be able to have the comfortable retirement you’re aiming for.