--- title: Do I Need a Financial Planner After I Retire? description: We’ve written a great deal about financial planning, especially regarding retirement. Learn more about how a financial planner may be beneficial for you in retirement. image: https://www.realized1031.com/hubfs/Images/photo/abstract/couple-consulting-retirement-IS-1186603957.jpg --- [![Realized 1031 Exchange Marketplace](https://www.realized1031.com/hs-fs/hubfs/Images/Brand/Logo/Realized/Realized-Logo-Black.png?width=240&height=80&name=Realized-Logo-Black.png "Realized 1031 Logo") ](https://www.realized1031.com/) - [Wealth Management Gap](https://www.realized1031.com/the-wealth-management-gap) - [Our Process](https://www.realized1031.com/how-realized-works) - [Financial Advisors](https://www.realized1031.com/advisor) - [Resources](https://www.realized1031.com/resources) - [The Company](https://www.realized1031.com/about-us) - [Articles](https://www.realized1031.com/blog) [Register](https://www.realized1031.com/marketplace) [Log In](https://www.realized1031.com/login) - Better Business Bureau Rating: **A+** - [FINRA BrokerCheck](https://brokercheck.finra.org/firm/summary/22333) - [Call](tel:1-877-797-1031) **(877) 797-1031** # Do I Need a Financial Planner After I Retire? Posted Sep 24, 2022 ![](https://www.realized1031.com/hs-fs/hubfs/Images/photo/abstract/couple-consulting-retirement-IS-1186603957.jpg?width=750&height=392&name=couple-consulting-retirement-IS-1186603957.jpg) We’ve written a great [deal about financial planning](https://www.realized1031.com/search?term=financial+planning), especially [regarding retirement](https://www.realized1031.com/blog/what-is-the-difference-between-financial-planning-and-retirement-planning). Many financial planners are dedicated to retirement strategies, helping you save money and accumulate assets so you can enjoy a comfortable lifestyle after receiving that final paycheck.  But is a financial planner necessary after you retire? It might be in your best interest to retain one. Financial planners are trained and educated to help clients, whether they’re launching careers and families, or have left the workforce.  A qualified financial planner can help with the following aspects of retirement.  ### Rules and Regulations  Retirement funding is subject to a variety of rules and regulations, whether you’re depending on a [defined-benefit plan](https://www.investopedia.com/terms/d/definedbenefitpensionplan.asp) (such as a traditional pension plan or qualified-benefit plan) or a [defined-contribution plan](https://www.realized1031.com/blog/what-is-a-defined-contribution-retirement-plan) (think 401(k) or IRA). The financial planner keeps on top of those requirements, informing you about withdrawal requirements and possible penalties.   For example, your defined-contribution plan carries a [required minimum distribution](https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-required-minimum-distributions#:~:text=(b)%20plan%3F-,What%20are%20Required%20Minimum%20Distributions%3F,which%20he%20or%20she%20retires.), or the minimum amount that you must withdraw annually when you reach the age of 72. Failure to withdraw that minimum can lead to a hefty penalty. A financial planner can provide you with this and other essential information.  ### Money Management  You’ll likely be living on a fixed income after you retire. This means you need to have a handle on daily expenses and budgeting. Furthermore, market fluctuations can raise concerns about whether you need to move your funds into other investments. [Guidance from a financial planner](https://www.53.com/content/fifth-third/en/financial-insights/personal/retirement-planning/do-i-need-a-financial-advisor-in-retirement.html) can be invaluable when it comes to helping you with expenses and seeking to ensure your investments deliver what you need.  Qualified financial planners can help you develop a budget on your fixed income, while continuing to manage your portfolio. A financial planner can also help guide you through certain scenarios, like how to contribute to a grandchild’s college tuition fund or tax-advantage strategies concerning home sales capital gains.  ### Health, Care, and Life  Once you retire, you will likely lose employer-sponsored benefits such as medical, dental, and vision. Many financial planners partner with brokers and agencies that offer insurance policies to supplement Medicare coverage. Additionally, financial planners can suggest life insurance (to help protect your loved ones and assets if you die) and [long-term care insurance](https://www.nerdwallet.com/article/insurance/long-term-care-insurance) (which fills gaps not covered by health insurance).   ### Estate Planning  Retaining a financial planner post-retirement can also be helpful [with estate planning](https://www.kiplinger.com/retirement/retirement-planning/602829/planning-for-retirement-assets-in-your-estate-plan). Even if you already have a will with designated heirs and beneficiaries, things have changed. For instance, you’ll likely be withdrawing funds from your IRA, which can reduce the amount available to your heirs. Speaking of which, you’ll likely require separate plans for tax-deferred assets; for example, IRAs don’t receive a step-up in basis, meaning they’re subject to ordinary income tax rates when passed to your beneficiaries.  A financial planner can help determine what wealth can be separated from your day-to-day expenses, and what tax-advantaged strategies can be used for funds and other assets.  ### Keeping the Planner  Your financial planner helped you prepare for retirement. Even if you’ve stopped drawing a regular paycheck, it’s important to maintain your relationship with him or her. Having a financial professional in your corner can provide many benefits when it comes to enjoying your lifestyle, protecting your assets, and setting up a legacy.  *This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice, meeting the particular investment needs of any investor.*  *Realized does not provide tax or legal advice. This material is not a substitute for seeking the advice of a qualified professional for your individual situation.*  Learn Ways To Help Build Long-Term Real Estate Wealth [![Get Tips For Managing Real Estate Wealth](https://www.realized1031.com/hs-fs/hubfs/Images/UI/graphics/composites/IPWM-eBook-250c.jpg?width=250&height=250&name=IPWM-eBook-250c.jpg "Learn new ways to use real ...") ](https://www.realized1031.com/blog/do-i-need-a-financial-planner-after-i-retire#blogform) Download eBook ---   --- ### Get Tips For Managing Real Estate Wealth ![Learn Ways To Help Build Long-Term Real Estate Wealth](https://www.realized1031.com/hs-fs/hubfs/Images/UI/graphics/composites/IPWM-eBook-550.jpg?width=550&height=650&name=IPWM-eBook-550.jpg) Learn new ways to use real estate to pursue your wealth goals. By providing your email and phone number, you are opting to receive communications from Realized. If you receive a text message and choose to stop receiving further messages, reply STOP to immediately unsubscribe. Msg & Data rates may apply. To manage receiving emails from Realized visit the Manage Preferences link in any email received. Search ### [Why Realized](https://www.realized1031.com/why-realized) - [Wealth Management](https://www.realized1031.com/the-wealth-management-gap) - [Why Realized](https://www.realized1031.com/why-realized) - [Our Process](https://www.realized1031.com/how-realized-works) - [Scenarios](https://www.realized1031.com/scenarios) - [Private Client Program](https://www.realized1031.com/private-client) - [Realized Exchange Services](https://www.realized1031.com/realized-exchange-services) ### [The Company](https://www.realized1031.com/about-us) - [The Team](https://www.realized1031.com/about-us) - [FAQ](https://www.realized1031.com/frequently-asked-questions) - [Testimonials](https://www.realized1031.com/testimonials) - [Press](https://www.realized1031.com/press) - [Careers](https://www.realized1031.com/careers) ### [Partners](https://www.realized1031.com/partners) - [Financial Advisors](https://www.realized1031.com/advisor) - [Broker Dealers](https://www.realized1031.com/partners/broker-dealers) - [Real Estate Agents](https://www.realized1031.com/partners/real-estate-agents) - [Certified Public Accountants](https://www.realized1031.com/partners/certified-public-accountants) ### [Resources](https://www.realized1031.com/resources) - #### Learn - [Articles](https://www.realized1031.com/blog) - [Glossary of Terms](https://www.realized1031.com/glossary) - [Capital Gains Tax Rates](https://www.realized1031.com/capital-gains-tax-rate) - #### Watch - [Video Library](https://www.realized1031.com/videos) - [Webinar Archive](https://www.realized1031.com/webinars) - #### Read - [Delaware Statutory Trust](https://www.realized1031.com/delaware-statutory-trust) - [Tenants-In-Common](https://www.realized1031.com/tenants-in-common-tic) - [1031 Exchange](https://www.realized1031.com/1031-exchange) - [Qualified Intermediary](https://www.realized1031.com/qualified-intermediary) - [Qualified Opportunity Zones](https://www.realized1031.com/opportunity-zones) #### Realized - 500 W 13th Street Austin, TX 78701 - (877) 797-1031 ##### [Contact Us](https://www.realized1031.com/contact-us) - [![Realized on Facebook](https://www.realized1031.com/hs-fs/hubfs/Images/UI/Social/Icons/Mix/social-facebook-whiterev.png?width=60&height=60&name=social-facebook-whiterev.png)](https://www.facebook.com/Realized/) - [![Realized on LinkedIn](https://www.realized1031.com/hs-fs/hubfs/Images/UI/Social/Icons/Mix/social-linkedin-whiterev.png?width=60&height=60&name=social-linkedin-whiterev.png)](https://www.linkedin.com/company/realized/) - [![Realized on YouTube](https://www.realized1031.com/hs-fs/hubfs/Images/UI/Social/Icons/Mix/social-youtube-whiterev.png?width=60&height=60&name=social-youtube-whiterev.png)](https://www.youtube.com/c/Realized1031?sub_confirmation=1) - [![Realized Holdings, Inc. BBB Business Review](https://www.realized1031.com/hs-fs/hubfs/Images/professional-assoc/bbb/RZH2-bbb-seal.png?width=40&height=65&name=RZH2-bbb-seal.png)](http://www.bbb.org/central-texas/business-reviews/real-estate-investors/realized-holdings-llc-in-austin-tx-1000112948/#bbbonlineclick) - [![FEA Logo](https://www.realized1031.com/hs-fs/hubfs/Images/professional-assoc/fea/RZH2-fea-logo.png?width=82&height=65&name=RZH2-fea-logo.png "FEA Logo")](https://www.1031.org) SECURITIES DISCLOSURE Realized1031.com is a website operated by Realized Technologies, LLC, a wholly owned subsidiary of Realized Holdings, Inc. (“Realized Holdings”). Securities and/or Investment Advisory Services may be offered through Registered Representatives or Investment Advisor Representatives of Realized Financial, Inc. ("Realized"), a broker/dealer, member [FINRA](https://www.finra.org)/[SIPC](https://www.sipc.org/), and registered investment adviser. Realized is a subsidiary of Realized Holdings, Inc. ("Realized Holdings"). Check the background of this firm on [FINRA's BrokerCheck](https://brokercheck.finra.org/firm/summary/22333). Hypothetical example(s) are for illustrative purposes only and are not intended to represent the past or future performance of any specific investment. Investing in alternative assets involves higher risks than traditional investments and is suitable only for sophisticated investors. Alternative investments are often sold by prospectus that discloses all risks, fees, and expenses. They are not tax efficient and an investor should consult with his/her tax advisor prior to investing. Alternative investments have higher fees than traditional investments and they may also be highly leveraged and engage in speculative investment techniques, which can magnify the potential for investment loss or gain and should not be deemed a complete investment program. The value of the investment may fall as well as rise and investors may get back less than they invested. This site is published for residents of the United States who are accredited investors only. Registered Representatives and Investment Advisor Representatives may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed until appropriate registration is obtained or exemption from registration is determined. Not all of services referenced on this site are available in every state and through every representative listed. For additional information, please contact the Realized Compliance department at 512-472-7171 or info@realized1031.com. - [Terms & Conditions](https://www.realized1031.com/terms-and-conditions) - [Privacy Policy](https://www.realized1031.com/privacy-policy) - [Form CRS](https://www.realized1031.com/hubfs/common-files/disclosures/FormCRS.pdf) - [ADV 2A](https://www.realized1031.com/hubfs/common-files/disclosures/ADV2A.pdf) - [Reg BI Disclosures](https://www.realized1031.com/hubfs/common-files/disclosures/RegBI.pdf) -   © 2026 Realized Holdings, Inc. ```json { "@context" : "http://schema.org/", "@type" : "BlogPosting", "articleBody" : "We’ve written a great deal about financial planning, especially regarding retirement. Many financial planners are dedicated to retirement strategies, helping you save money and accumulate assets so you can enjoy a comfortable lifestyle after receiving that final paycheck. But is a financial planner necessary after you retire? It might be in your best interest to retain one. Financial planners are trained and educated to help clients, whether they’re launching careers and families, or have left the workforce. A qualified financial planner can help with the following aspects of retirement. Rules and Regulations Retirement funding is subject to a variety of rules and regulations, whether you’re depending on a defined-benefit plan (such as a traditional pension plan or qualified-benefit plan) or a defined-contribution plan (think 401(k) or IRA). The financial planner keeps on top of those requirements, informing you about withdrawal requirements and possible penalties. For example, your defined-contribution plan carries a required minimum distribution, or the minimum amount that you must withdraw annually when you reach the age of 72. Failure to withdraw that minimum can lead to a hefty penalty. A financial planner can provide you with this and other essential information. Money Management You’ll likely be living on a fixed income after you retire. This means you need to have a handle on daily expenses and budgeting. Furthermore, market fluctuations can raise concerns about whether you need to move your funds into other investments. Guidance from a financial planner can be invaluable when it comes to helping you with expenses and seeking to ensure your investments deliver what you need. Qualified financial planners can help you develop a budget on your fixed income, while continuing to manage your portfolio. A financial planner can also help guide you through certain scenarios, like how to contribute to a grandchild’s college tuition fund or tax-advantage strategies concerning home sales capital gains. Health, Care, and Life Once you retire, you will likely lose employer-sponsored benefits such as medical, dental, and vision. Many financial planners partner with brokers and agencies that offer insurance policies to supplement Medicare coverage. Additionally, financial planners can suggest life insurance (to help protect your loved ones and assets if you die) and long-term care insurance (which fills gaps not covered by health insurance). Estate Planning Retaining a financial planner post-retirement can also be helpful with estate planning. Even if you already have a will with designated heirs and beneficiaries, things have changed. For instance, you’ll likely be withdrawing funds from your IRA, which can reduce the amount available to your heirs. Speaking of which, you’ll likely require separate plans for tax-deferred assets; for example, IRAs don’t receive a step-up in basis, meaning they’re subject to ordinary income tax rates when passed to your beneficiaries. A financial planner can help determine what wealth can be separated from your day-to-day expenses, and what tax-advantaged strategies can be used for funds and other assets. Keeping the Planner Your financial planner helped you prepare for retirement. Even if you’ve stopped drawing a regular paycheck, it’s important to maintain your relationship with him or her. Having a financial professional in your corner can provide many benefits when it comes to enjoying your lifestyle, protecting your assets, and setting up a legacy. This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice, meeting the particular investment needs of any investor. Realized does not provide tax or legal advice. This material is not a substitute for seeking the advice of a qualified professional for your individual situation.", "articleSection" : [ "Financial Planning" ], "author" : { "@type" : "Person", "email" : "marketing@realized1031.com", "image" : "", "name" : "The Realized Team", "url" : "https://www.realized1031.com/blog/author/the-realized-team" }, "dateModified" : "2022-09-26T11:38:31+0000", "datePublished" : "2022-09-26T11:38:31+0000", "description" : "We’ve written a great deal about financial planning, especially regarding retirement. Learn more about how a financial planner may be beneficial for you in retirement.", "headline" : "Do I Need a Financial Planner After I Retire?", "image" : { "@type" : "ImageObject", "height" : 501, "url" : "https://733513.fs1.hubspotusercontent-na1.net/hubfs/733513/Images/photo/abstract/couple-consulting-retirement-IS-1186603957.jpg", "width" : 750 }, "mainEntityOfPage" : "https://www.realized1031.com/blog/do-i-need-a-financial-planner-after-i-retire", "name" : "Do I Need a Financial Planner After I Retire?", "publisher" : { "@type" : "Organization", "address" : { "@type" : "PostalAddress", "addressCountry" : "USA", "addressLocality" : "Austin", "addressRegion" : "TX", "postalCode" : "78701", "streetAddress" : "500 W 13th Street " }, "logo" : { "@type" : "ImageObject", "height" : 60, "url" : "http://www.realized1031.com/hubfs/Images/Brand/Logo/Realized/Realized-Logo-Black-No-Margin-296x60-AMP.png", "width" : 296 }, "name" : "Realized" }, "thumbnailUrl" : "https://733513.fs1.hubspotusercontent-na1.net/hubfs/733513/Images/photo/abstract/couple-consulting-retirement-IS-1186603957.jpg" } ```