RETIREMENT TALK INTERVIEW
by bobby l. hickman
PLANNING AHEAD FOR A SECURE RETIREMENT
Many people need advice to properly prepare
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any people nearing retirement age do not understand basic retirement planning concepts, potentially preventing them from enjoying the lifestyle they desire during their golden years. A December 2020 study by research firm MoneyRates found most Americans are poorly equipped to conduct their own financial retirement planning. The Investor Aptitude Survey found twothirds of respondents have not projected whether their savings will be enough to last through their retirement. Only 55 percent had created a monthly budget for retirement spending, while 25 percent thought their retirement savings would last less than five years. While the MoneyRates survey 34 / ADVISORS MAGAZINE
MAY 2021
stated many people know little about planning, creating a retirement plan tailored to each individual’s needs is actually not that challenging, according to Benjamin Quilty, Certified Financial Planner™ and CEO of Pinnacle Investments, LLC in Syracuse, New York. “It does require time to gather the necessary data,” Quilty said. “The first step is always just listening to the client talk about their goals, and occasionally asking questions to help them clarify those goals.” Quilty said he has certain strategies he follows for portfolio management that are largely based on the risk tolerance of each individual client. He noted that his clients fall somewhere in the middle of the spectrum, between aggressive and highly conservative. His portfolio management techniques include several distinguishing factors that allow each
client to feel comfortable. “At the end of the day, buying quality, having patience, diversifying, and implementing the investment plan through proven portfolio managers sets clients up to be financially successful in the long run,” said Quilty. “In most cases, the underlying portfolios are designed by experienced managers I believe in, who have long track records of success throughout many different market environments.” Quilty said his approach can be summed up simply as, “Control what you can control.” He said his firm creates portfolios that are structured to weather significant market volatility. A well-diversified portfolio is based on a client’s risk tolerance, time horizon, and the quality of underlying investments – but does not attempt to time the market. One key to the financial planning process is understanding the variables clients encounter outside the investment world that can change a financial plan. Those may include
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