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Directions Financial Solutions (DFS) Answer Retirement Questions

200 N. St. Clair Street,
Toledo, Ohio 43604
419-720-4729, directionscu.org 

Matt Williams and Doug Shaffer 

When is the best time to retire?
When it comes to retirement, there is no magic age. Everyone’s situation is unique, but with the help of a Financial Advisor, you can create a comprehensive plan to guide you. Ideally, this plan is a roadmap during your working years and through retirement. It is a guide and is not set in stone, so it should be continually evaluated and updated as need be. The main focus is to be financially prepared. It’s not what you make it’s; what you save!

When should I begin taking social security?  Won’t I get more if I wait a few years?
Social Security is also a situation that is unique to everyone. Yes, the amount does increase based on age, but that may not be the right decision for everyone—your lifestyle factors in the decision and your ability to continue working. 

I plan on retiring in 5 years when I am age 68; how do I prepare?
Start working on your financial plan now. Retirement is not the same for everyone and is not just an achievement. What do you desire to do in retirement, and how do you intend to finance your retirement? By having a plan in place, you will be more prepared and will know what dreams you can make a reality.

Do I need a Will? Trust?
Many experts suggest both. A will is less expensive, simpler to set up, and comes into play at the time of death. A trust is more complicated and costly but can be managed while you are alive. There are various types of trusts, so make sure to work with an estate planning professional to determine the best solution for your situation.

Matt Williams:

Are you from Toledo? Toledo native? What do you love about this community?
Yes, I grew up in Toledo and still reside here. I love this community because there are 6 degrees of separation in most of the world, but in Toledo, there is one. This makes it feel like we live in a small town, but we have all the large town amenities.

Best professional advice you’ve ever gotten:
“Always treat your clients like family.” This advice has stuck with me throughout my career and is something I pride myself in.

Right now, I’m reading:
“A Worse Place than Hell” by John Matteson

What’s one question everyone should ask themselves? 
How does this investment recommendation help me meet my financial goals?

Doug Shaffer:

What sets you apart in the industry?
When I meet with clients, I see myself as someone that never talked with a Financial Advisor. People want to learn, be more informed, and be educated concerning their personal finances. It is gratifying to know that you are helping shape their future retirement.

What is a commonly held belief you encounter in your profession that may not be correct?
That all financial advisors are Fiduciaries. That is not true!  As a fiduciary, we are obligated to put our clients best interest first and foremost above everything else. Unfortunately, not all advisors are fiduciary and do not follow the same principles and ethics.

What’s one question everyone should ask themselves? 
Should I talk with a Financial Advisor?  Most people go through life never talking with a financial advisor, thus never really understanding the impact it can have in their future years. As I have discovered from past meetings with clients, it’s not what the client knows; it’s what they don’t know. If you can change that in a client meeting, the success of retiring comfortably can be enormous.

Are you from Toledo?
I was born and raised here in Toledo and have also done the same with my family.  I enjoy the seasonal changes that take place in Toledo, along with the activities that result from our great lakes.

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