A retirement planner is a type of banking specialist that helps consumers financially prepare for the day when they will no longer be required to work. Of course, the date that someone would be able to retire can hinge on dozens of separate factors, which is why a retirement planner has such a difficult task when working with clients. By taking into consideration a client's age, overall debt, and general lifestyle, a retirement planner can calculate how much money would need to be in savings for that person to live the rest of her life comfortably. From there, a plan is created to allow that individual a means to make that goal happen, all the while considering cost of living adjustments, future taxes, health care, and other foreseeable requirements.
Solving these mathematical equations is only a mere fraction of a retirement planner's responsibility, however, and there is also a good bit of foresight involved. Much like a stock broker, a retirement planner has to have a solid grasp on the various investment indexes to ensure that his client's money is steadily gaining interest. When markets are down, a retirement planner will protect his clients by switching their money to low-yield government guarantees, because unlike in other banking professions, his primary goal is long-term stability. Even when the markets are soaring, a retirement planner will often invest in very conservative mutual funds to eliminate as much risk as possible.
On the other side of the coin, a retirement planner also has the task of constantly updating other pieces of information within his client's retirement portfolio, because when the prices of goods and services fluctuate, so does the total amount their customer will need to retire. For example, when gasoline skyrockets due to territorial disputes or shortages, bankers have to assume that it will affect their client's monthly budgets in a negative way. If the client has less to invest each month, then even small calculations can change dramatically over the course of several decades, which could postpone an expected retirement date by several years. Other factors such as sudden health changes, family emergencies, or natural disasters can change a retirement formula just as quickly.
Aside from the massive amount of daily calculations, a retirement planner also spends a large amount of his day speaking with clients, attending seminars, and finding new ways to invest capital. Without staying knowledgeable of new investment trends, it would be impossible to provide a genuine value to clients, which is why a retirement planner is normally a lifelong scholar. Keeping investors informed is possibly one of the most important aspects of the profession as well.