At what point does it make sense to get professional financial planning advice?

Planning a vacation takes time, thought and coordination. You think about where you want to go, how long you’ll stay, what it’ll cost, what to pack and what reservations need to be made ahead of time. Miss just one thing, and your relaxing getaway might not feel so relaxing after all.

Now imagine a vacation that lasts 25 or 30 years — and you can’t reschedule it. That’s retirement.

It’s no wonder that many people feel overwhelmed when they think about retirement planning. How much will I need? What if I outlive my money? Am I saving enough? Am I saving in the right places? When should I take Social Security? What about healthcare?

If you’re asking yourself these questions, you’re not alone. A financial advisor’s job is to help answer them and help you build a plan that works for your goals, lifestyle and future.

Here’s how they do it, step by step.

  1. Defining your Destination: What Does your Retirement Actually Look Like?

Every retirement plan starts with the same question: What do you want this chapter of your life to look like?

This is more than just picking a retirement age. It’s about your lifestyle. Do you plan to retire early, in your 50s? Will you keep working part-time because you love what you do? Will you move closer to family or relocate for better weather or a lower cost of living?

A financial advisor will help you think through your personal vision for retirement, which could include:

This conversation is often more personal than financial at first, but it sets the direction for everything that follows.

  1. Estimating the Cost: How Much Will you Actually Need?

Once the destination is clear, the next question is: How much will it cost to get there and stay there?

This is where many people make rough estimates based on rules of thumb, like needing 70-80% of your current income in retirement. But studies show it’s not that simple.

A financial advisor goes beyond the averages and helps you calculate your real number. That includes:

  • Housing costs (mortgage, rent, property taxes, maintenance)
  • Healthcare and long-term care
  • Taxes (income taxes, capital gains, RMDs)
  • Travel and leisure spending
  • Emergency and discretionary expenses
  • Inflation — particularly for healthcare and essential goods

They’ll also help you project how long you need your money to last, factoring in increasing life expectancies. For example, a couple who retires at 65 has a high probability of at least one spouse living past age 90. That’s potentially 25-30 years of retirement income needed and the plan needs to be built for that.

  1. Packing Wisely: Building a Strategic Retirement Savings Plan

Once you’ve mapped the destination and estimated the cost, it’s time to “pack” or in financial terms, accumulate assets.

This is where your savings and investment strategy come into play. A financial advisor can help you:

  • Review your current cash flow to identify savings opportunities
  • Maximize employer-sponsored plans (like 401(k)s or 403(b)s), including employer match
  • Compare traditional vs. Roth accounts, based on your current and expected tax brackets
  • Optimize contributions to IRAs, HSAs and taxable brokerage accounts
  • Diversify your investment allocation based on your timeline and risk tolerance
  • Consider annuities or other income-generating tools when appropriate

One of the biggest planning levers is tax efficiency. Many people aren’t just under-saving, they’re saving in the wrong places. A financial advisor helps you look at the long-term tax implications of your savings vehicles, ensuring you’re not setting yourself up for an avoidable tax burden later.

  1. Making Reservations Early: The Power of Starting Now

When it comes to retirement, the earlier you start planning, the better. It’s not just about having more years to save. It’s about giving your money more time to grow through compound interest.

Here’s a simple example that illustrates the point*:

Even though Jack invested three times as much, Emily’s money grew more simply because she started 10 years earlier. That’s the power of compounding.

If you haven’t started yet, don’t panic. A financial advisor can help you create a “catch-up” strategy, especially if you’re in your peak earning years. But the key is to take action now.

  1. Monitoring the Forecast: Managing the Risks you Can’t Predict

Just like you wouldn’t go on a trip without checking the weather forecast, you shouldn’t go into retirement without thinking about the risks ahead.

The most common threats to retirement plans include:

  • Market volatility: Investment losses early in retirement (known as sequence of returns risk) can dramatically reduce the lifespan of your portfolio.
  • Inflation: Especially high in recent years, inflation erodes your purchasing power over time.
  • Health care costs: These typically rise faster than overall inflation and become a major expense later in life.
  • Tax changes: Shifts in tax law can affect everything from Social Security to RMDs and capital gains.

A financial advisor helps you monitor and adapt to these moving parts. Whether it’s adjusting your asset allocation, planning for long-term care, rebalancing your investments or updating your withdrawal strategy, they help you stay proactive — not reactive.

  1. Retirement Should Be Stress-Free — Not Guesswork

At its core, retirement is about freedom. The freedom to do what you want, when you want — without worrying about running out of money.

But getting there takes more than wishful thinking. It takes planning, discipline and strategy. That’s where a financial advisor adds real value:

Most importantly, they become a partner — someone who cares about your success and understands that retirement is more than a number. It’s your future.

The Bottom Line

Whether you’re in your 30s trying to get started, in your 50s wondering if you’re behind or in your 60s nearing the finish line, it’s never too early — or too late — to benefit from retirement planning.

Just like planning a big vacation, retirement involves multiple moving parts, potential risks and the need to plan ahead. Partnering with a financial advisor gives you the guidance, tools, and support you need to enjoy a financially secure future.

 

At Adams Brown Wealth Consultants, we help individuals and families build personalized retirement plans that reflect their goals, values and realities. We don’t believe in cookie-cutter strategies — we believe in building a future you can look forward to.

Let’s plan the retirement you deserve. Reach out today to schedule a conversation.