HOBBIES ARE GOOD FOR YOUR HEALTH

Do you have a hobby? Hobbies can give meaning and purpose to your life in retirement. As Robert Putnam points out in his book, Bowling Alone, it’s easy to discount the importance of hobbies and social engagements. Putnam details the widespread decline in civic engagement, from PTA memberships to neighborhood potlucks and bowling leagues. Over a couple of generations, Americans have misplaced the concept of free time.

SPECIAL PLANS FOR YOUR SPECIAL PEOPLE

Lily is a beautiful, active and full of personality toddler who happens to have Down syndrome. Lily’s parents and I have been friends for years and I have the continuing pleasure of watching Lily and her siblings grow up. While Lily is becoming a physical therapy rock star and hitting all her milestones in a timely fashion, her parents have started planning for the future.

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WHY WE ENJOY OUR HOBBIES

The Merriam-Webster dictionary defines a hobby as “a pursuit outside one’s regular occupation, engaged in especially for relaxation.” Hobbies include anything from playing a musical instrument to gardening, bird watching or sewing. A hobby is a way of focusing on something you enjoy just for the sake of that enjoyment. It may also be a way to clear your mental palette. You could be stressed out by a situation at work or the challenges of raising children and need an escape.

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How will we communicate and how often?

If you’re interviewing candidates, ask them how often they will meet with you in person. At a minimum, an advisor should see you once a year to review your progress and suggest changes. Will they also call or e-mail you with suggestions throughout the year? Are you free to contact the advisor whenever you like? Will you get a real, live person every time you call? Will the advisor send out newsletters or other communications to update you on changes in the investment world? If so, can you see some samples of the communication vehicles he or she sends to clients?


How do you get compensated?

Some financial advisors work on a fee basis; some work on commission; and some use a combination of the two. Find out how your advisor will be compensated, when you’ll need to make payments and how much you’ll be expected to pay.


By asking the right questions, you should get a good sense of whether a particular advisor is right for you. And since this likely will be one of the most important professional relationships you have, you’ll want to have a good feeling about it right from the beginning.


This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

What kind of lifestyle do you hope to have in retirement? Do you have a strategy to get there? If you don’t have confidence in your plan, it may be time to engage a financial professional. But how do you choose one that’s right for you?


These days, you have more options than ever, including so-called robo-advisors. Robo-advisors typically use algorithms to assemble investment portfolios, with little to no human supervision, after customers answer questions online. Generally, robo-advisors are fairly cheap and their recommendations are usually based on sound investment principles such as diversification.


However, when considering a robo-advisor, you should determine if an algorithm can address your needs as well as a human being would – someone who actually becomes familiar with your life and all aspects of your financial situation. Furthermore, a robo-advisor can’t really handle the new wrinkles that will inevitably pop up, such as when you change jobs and you’d like to know what to do with your 401(k) from your previous employer. Should you leave the money in that employer’s plan, transfer the account to the new employer’s plan or roll it over to an IRA? You probably couldn’t receive a personalized evaluation of your options based on your individual goals and circumstances from a robo-advisor.

MAKE SURE YOU CHOOSE THE RIGHT FINANCIAL PROFESSIONAL

If you decide to work with an individual financial professional, what should you look for in this person? Here are a few questions you may want to ask a potential financial advisor:


Who is your typical client?

When you ask this question, you may get a sense of whether a particular financial advisor has experience working with people in your financial situation and with goals similar to yours.


What’s important to you?

The quality of your relationship with your financial advisor is important – after all, you may be working with this person for decades – and he or she likely will be involved with many of your most personal decisions. Consequently, you’ll want to work with someone you connect with on an individual level as well as a professional one. If an advisor seems to share your values and appears to have a good rapport with you, it could be a positive sign for the future.  

GRIFFIN L. JOHNSON

Originally from Apex, NC, Griffin is a member of the class of 1998 of The Citadel in Charleston, SC.  Griffin joined Edward Jones in 2011 because he wanted to help individual investors work towards achieving their financial goals.  He is passionate about helping others plan for the future but his most gratifying (and sometimes challenging) role is that of a family man. Griffin and his wife, Dina, have three children, two dogs, and one large orange cat.

more articles by Griffin L. Johnson