When Grandpa Frank Genereaux retired in 1969, he was forced to make a tough decision: Choosing a pension option. Frank chose the option that gave him the highest monthly income. Frank did not understand that this option left zero survivor income to his wife Grace if he passed away first.
Frank passed away just two years later. Grandma Grace was then forced to "get by" on just Social Security income for the next 35 years until her death at age 94.
The financial decisions we make can have lifelong implications. Advice, experience, knowledge, and understanding matter. It's important to work with an advisor that takes the time to understand your needs and goals, can help you address the issues related to them and has your interests in mind.