Getting an early start on retirement planning, especially with help from a professional, is one of the best ways to ensure a successful retirement. But with so many experts, advisors, and salespeople out there, how do you know who to trust?

At Zynergy Retirement Planning, we’ll help you understand the different types of financial planners so you can make an informed choice about who to work with in Union County, NJ.

When Should You Begin Retirement Planning?

The sooner, the better. Ideally, you should start planning in your 20s, as soon as you begin earning. Early savings give your money more time to grow thanks to compounding, where gains generate additional gains over time. That’s why starting early is so powerful.

Check out our blog for answers to common retirement questions like:

• How Much Should I Contribute To My 401k?
• How Much is Enough for my Emergency Reserve?
• What Is a Roth IRA Conversion and When Should I Consider It?
• How Do I Supplement My Income in Retirement?

Types of Retirement Planning Professionals

Choosing the right financial planner is a key decision. Among Certified Financial Planners (CFPs), here are three common ways they get paid, and how that can affect your experience:

• Commission-Based Planners. These planners earn money by selling financial products. Their advice is often influenced by the commissions they earn. Think of a car salesperson pushing a luxury sports car when you really need a budget-friendly SUV. The advice may not align with your best interests.
• Fee-Based Planners. These planners earn both commissions and client fees. While this reduces some bias, there’s still an incentive to sell products. Imagine a salesperson who recommends the right type of car, but keeps pushing upgrades you don’t need.
• Fee-Only Planners. These planners are paid only by their clients – no commissions, no incentives to push products. Their only goal is your financial success. It’s like a trusted advisor helping you choose a car based on your needs and budget, not theirs.

Why Choose a Fee-Only Financial Planner?

A Fee-Only CFP® is not only qualified, they’re focused solely on your goals. Here’s why it’s a better choice for most people:

• Fewer conflicts of interest: They don’t earn money from selling products, so their advice is truly in your best interest.
• Advice comes first: Their role is to guide your financial decisions, not to make sales.
• Aligned incentives: Many charge a percentage of the assets they manage. That means if your portfolio grows, they benefit too. It’s a win-win.

Retirement Planning Considerations in Union County, NJ

Planning for retirement in Union County means accounting for several local factors:

1. Cost of Living

• Housing: Renting, buying, or downsizing all come with different costs.
• Property Taxes: Union County has some of the highest in the state.
• Healthcare: Consider the availability and affordability of care.

2. Taxes

• NJ taxes most retirement income, but Social Security isn’t taxed.
• New Jersey also has an inheritance tax to factor into estate planning.

3. Community and Lifestyle

• Do you want to live near family and friends?
• What local activities or amenities matter to you?
• Are you comfortable with the area’s seasonal climate?

4. Healthcare and Senior Services

• Look into nearby hospitals, clinics, and specialists.
• Check for services like transportation or home care.

5. Employment and Volunteering Opportunities

• Part-time jobs can supplement income.
• Volunteering can offer purpose and connection.

6. Transportation

• Is public transit available and reliable?
• Can you easily walk to stores and services?

7. Financial Planning

• Assess your savings, pensions, and Social Security.
• Build a realistic budget that includes healthcare and leisure.
• Talk to a planner about investment strategies that match your goals.

8. Housing Options

• Would downsizing make sense?
• Explore independent living or assisted living communities.

9. Legal and Estate Planning

• Have a will, power of attorney, and healthcare directive.
• Get legal advice to navigate NJ’s estate laws and taxes.

Taking these steps can help you build a secure and satisfying retirement plan in Union County.

Read more: Is New Jersey A Retirement Friendly State?

When Do Most People Retire?

Most of our clients retire between ages 62 and 70, but the “right” age depends entirely on you. Ask yourself:

• Can I afford to retire or semi-retire now?
• Am I physically and mentally able to keep working?
• Do I still enjoy my work, or am I ready for something new?
• What will I do in retirement?
• Would I rather retire early with a simpler lifestyle, or later with more financial freedom?

Retirement isn’t about what your neighbors are doing, it’s about what works best for you.

Work With a Trusted Retirement Planner in Union County

If you live in Union County, NJ, and are approaching retirement, working with a Fee-Only Certified Financial Planner® can make all the difference.

At Zynergy Retirement Planning, we’re fiduciaries. That means we work solely for you with no hidden agenda. Our goal is to build long-term, trusted relationships through smart, personalized financial guidance.

Contact us today to get started on a confident path to retirement.