CFP®, FINANCIAL ADVISOR, AMERIPRISE FINANCIAL SERVICES
LINDSEY KRESKE has been a financial advisor in Milwaukee for over 15 years, specializing in retirement planning. We asked her to share her expertise here.
What are some mistakes people make when planning for retirement?
A few notable ones include taking too much out from their retirement savings too early, taking Social Security at an incorrect time, estimating retirement expenses incorrectly or not planning for inflation. You can avoid these mistakes by working with a financial advisor and building a financial plan that is tailored to your lifestyle. When creating a financial plan, I help clients estimate not only their anticipated expenses, but also what sources of retirement income they have and how long they will need their savings to last.
What questions do you ask your clients when you start working on their financial plan?
When you think about retirement, what is the most important thing to you, and what do you see yourself doing? Do you have other financial goals? What are your expectations of your investments?
I also ask many questions about their entire situation, which include financial position and cash flow, investments, taxes, major purchases and more. When building a client’s plan, I take into account life expectancy and health, when they want to start receiving Social Security or pension benefits, when they’ll start to tap into their retirement savings, and how much to take every year so that they won’t run out of money.
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1733 Manhattan Dr., Suite F, Waukesha
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