Financial Planner Presents at Northbrook Public Library on Retirement Planning In Uncertain Times
The recent economic downturn has resulted in a significant investment loss to most people and many are now deciding to postpone retirement while they try to rebuild their assets.
On April 23 Patrick L. Doland, a Northbrook financial advisor, presented a program at the Northbrook Public Library entitled “Retirement Planning in Uncertain Times.” The program was part of Money Smart Week which is sponsored each year throughout the Chicago area by the Federal Reserve Bank of Chicago.
“There’s never a wrong time to start improving your financial life,” Doland told the audience gathered in the library’s auditorium. During the nearly 90 minute presentation, Doland addressed recent economic events, the importance of creating a written plan, and how to deign a reasonable withdrawal strategy for spending down assets.
“Retirement income” according to Doland, “is becoming a major concern to retirees as they try to generate more income at a time when companies are suspending dividends, bank CDs and bonds are paying rates far below the average over the past decade, and equity valuations are down at levels we haven’t seen in nearly 10 years.” “Longevity risk” Doland went on to say, is a growing challenge that must be faced. People are living longer and it’s more important than ever to identify predictable retirement income.”
Doland is a former president of the Financial Planning Association of Illinois, North Shore Council (FPA) and served on the midwest board of directors of the National Association of Personal Financial Advisors (NAPFA).
As a principal of Reason Financial Advisors in Northbrook, Doland works with clients throughout Cook and Lake County and specializes in retirement planning issues. Many of his clients are single women and widows. The firm recently opened a branch office in Naperville, IL to serve clients in DuPage and Will counties.