When is the Right Time for FedEx Employees and Retirees to Hire a Money Manager?

FedEx individuals approaching retirement should know hiring a money manager can be a wise decision. A money manager, also known as an asset, portfolio, or investment manager, is a professional who provides individualized advice on building a portfolio, buying and selling securities on behalf of clients, and adapting strategies as market conditions shift. This service is particularly beneficial as financial needs and goals often become more complex with age and wealth.

A crucial advantage of hiring a money manager is their fiduciary duty to their clients. They are legally obligated to prioritize their clients' best interests, ensuring that investment advice and decisions advance the client's goals rather than the advisor's financial gain. This is particularly important for FedEx retirees or those nearing retirement, who need to balance the need for income with the preservation of their capital.

Moreover, the cost structure of money managers, generally a management fee calculated as a percentage of the client’s portfolio, can be more favorable for larger accounts. Fees on very large accounts might be reduced, preventing high-net-worth individuals from paying exorbitant amounts. This aspect is especially relevant for retirees who have accumulated significant assets over their careers.

In the broader context of FedEx retirement planning, it is essential to remember that it's never too late to start. Even for those who haven't begun to think about retirement, beginning now can make a significant difference. Strategic investing can quickly make up for lost time, and every dollar saved now will be appreciated later. Retirement planning involves calculating the amount of money needed based on current income and expenses, setting priorities, choosing the right accounts, and selecting appropriate investments. A typical guideline suggests replacing 70% to 90% of annual pre-retirement income through savings and Social Security.

Retirement accounts offer access to various investments, including stocks, bonds, and mutual funds. The right mix of these investments depends on the individual's time horizon to retirement and their risk tolerance. As retirement approaches, the investment strategy should gradually shift from aggressive to more conservative to protect the accumulated assets. In this landscape, a money manager can provide invaluable guidance and management, tailoring strategies to the unique needs of each retiree or soon-to-be retiree.

Discover the comprehensive guide to FedEx retirement planning and wealth management with Apple News. Stay informed on the latest in sports, local news, and current events, tailored to your interests. Benefit from personalized content, including live scores, schedules, and exclusive access to top publications for retirees and FedEx professionals. Explore secure, privacy-focused news consumption, and enjoy insightful podcasts for a well-rounded, informed retirement lifestyle. 

Featured Video

Articles you may find interesting:

Deciding whether to hire a money manager can be likened to a seasoned captain navigating a large, sophisticated vessel into the uncharted waters of retirement. Just as the captain relies on a skilled navigator to chart the course, avoid hazards, and ensure a safe and efficient journey, individuals approaching retirement from FedEx can benefit from a money manager's expertise. This professional helps chart a financial course, adjusting for market conditions and personal goals, to ensure a smooth transition into and through retirement, much like a navigator who adapts to changing seas and winds, keeping the ship steadily on course towards its destination.