Preparing for retirement on your own can be difficult. Even if you’re confident in your financial IQ, there’s a possibility that you could overlook some of the possible ways to secure more money for your retirement. One of the most difficult parts of retirement is selecting assets that are safe. It’s not enough to just employ a buy and hold strategy during retirement. If the market experiences a downturn you might have a difficult time recovering. A skilled market manager can help you navigate the pitfalls of selecting the right investments for your situation. Below are some guidelines on selecting a money manager to help you make retirement decisions.

Track Record

A money manager’s track record may be the most important factor you need to consider before you work with him or her. In general, the Great Recession hurt just about everyone. However, some money managers did better than others as a result of their managing skills. You want to make sure that you select a money manager who successfully navigated through the Great Recession. A money manager should be able to tell you how much money they started with and how much that money has grown over the years. If they are unable or unwilling to provide hard numbers, then you should think twice about employing them.

Clear Process

You should only work with a money manager who keeps things simple. Some money managers use complexity and jargon to obfuscate customers. However, if you don’t have a good grasp on what’s really going on with your money, you might end up losing it. Skilled money managers take the time to make sure you understand their process, and they don’t keep anything hidden from you. They also take the time to answer all of your questions because they understand how important your money is to you, and they want you to feel comfortable with their service.


It’s important to select a money manager who specializes in retirement savings. The money manager should know which assets will benefit you the most during your golden years. At the same time, the money manager should help you avoid unnecessary risk, including sequence of return risk. Social Security plays an important role in your retirement, so any money manager that you work with should be knowledgeable about those benefits.   


This may be the most obvious factor when it comes to selecting a money manager, but it’s still important. Only work with a money manager who has a solid reputation. Sometimes it’s possible to speak with previous or current customers to learn more about a money manager. These testimonials can help you in making a decision. If you select a money manager who has a good reputation you will likely not be disappointed with your financial future.