Everyone eagerly looks forward to the day they can quit working and begin the retirement lifestyle of their dreams. But are people truly prepared for retirement once that day comes? Luckily for Dayton residents, there are a host of services to help adults implement reliable strategies, so their retirement future is strong.
One of these services is the award-winning Adams Wealth Management Group where financial professionals try to answer the most pressing retirement questions such as ‘Can I retire early?’
Dwayne Adams, president and wealth advisor at Adams Wealth Management, says, “Our goal is to create an approach that is designed to address your individual situation. To pursue your goals, we address investing principles and strategies, retirement investing and distribution strategies, estate conservation issues and risk management.”
Adams has been a financial advisor for over 24 years. Before creating Adams Wealth Management Group, he started out with Edward Jones. As a certified financial planner, registered financial consultant and accredited investment fiduciary, he specializes in working with retirees and their special needs.
Most retirement anxiety relates, unsurprisingly, to financial matters. In fact, Adams finds that the No. 1 concern clients have is how to structure their investments to provide a paycheck once they retire.
“We closely work with them to create a plan that alleviates the fear of the unknown,” he says.
Perhaps then it’s no surprise one of Adams’ biggest tips for retiring comfortably is creating a comprehensive, up-to-date plan.
Whether or not individuals feel it is necessary to seek outside retirement guidance is a matter of opinion. Adams Wealth Management, however, prides itself in objective financial advice and a range of financial services to give the best support they can. Retirement today is not identical to the retirement of the past. It is Adams’ job to understand industry trends to best provide expert advice.
“There are a lot of things that have changed in retirement,” he explains. “I would say first that people are living longer, so they are spending more time in retirement.”
“Also, the number of people who have traditional pension plans has declined,” Adams continues. “So, more people need to be aware of the need to create a nest egg, independent of company benefits.”
If someone feels uneasy about their retirement future, Adams has a simple piece of advice.
“At any stage you can work to make your retirement picture brighter,” he says. “Start now; do not wait until tomorrow.”
Of course, it is common for seniors to be concerned about issues besides finances. It is normal for all aspects of the retirement transition to feel unsettling and confusing for retirees.
“A lot of times seniors feel overwhelmed, and do not know where to start,” says Allan Nelson, president of Next Step Seniors Transition. “It is hard to get momentum.”
Next Step Seniors Transition has offered specialized move services and expert advice for seniors and their families since 2010. They cover clients in the Springfield, Greater Dayton, Cincinnati and southwest Ohio markets. Licensed, bonded, and insured, Next Step agrees to handle the details related to a smooth retirement that often cause emotional and physical distress.
“We downsize seniors from large homes to smaller, easier homes like a one-floor plan,” he says. “We also offer sorting, packing, unpacking, moving, making beds, hanging pictures and monitoring the movers.”
“Then we go back to the original house to get things to family and friends, take care of shredding items, auction, and do a cleanout of anything left,” Nelson continues. This includes painting, carpeting and minor repairs that need finished.
“Afterwards we make a recommendation to the Realtor of the house.” Clients can choose to utilize any or all of their services, allowing retirees to pay only for the services they want completed.
Companies such as Next Step Seniors Transition anticipate and attempt to solve problems that senior citizens face after a changing lifestyle. That can mean taking as long as necessary to complete a move, or even accommodating interstate relocations. But oftentimes it is not just the elderly parents that need guidance on this challenging path. In situations like these Nelson tries to help both the parents and their children as best as possible.
“We work with a high percentage of adult children,” he notes. “I can’t convince the parents to move but the family can.”
And by helping seniors transition to a new home that is better suited to their new lifestyle, in some instances, Next Steps brings new business to retirement communities, assisted living and nursing facilities. Meanwhile, other seniors just need assistance ‘aging in place’ by not moving anywhere yet improving their quality of life through expert organizational skills.
No matter what path retirees believe is appropriate for their situation, Nelson stresses the importance in developing a plan early.
“A lot of seniors wait until it is too late,” he explains. “That means they are sometimes taken out of the equation by their adult children or people who make the decisions for them. Do not wait when you know it’s coming down the road.”
Overall, Nelson thinks the general public is trending towards becoming, “more comfortable using our retirement services,” which bodes well for retirees in the future.
“You do not have to do this alone,” Nelson adds. “We can be with them every step of the way to make it a smooth transition in a reasonable amount of time.”