Financial planning isn’t just about numbers. It’s about people. And when those people are first responders, well the job of a financial planner just got that much more critical. When you know who you are planning for, what matters to them, and why, then you can really make an impact with a strong financial plan. It matters, because the people we count on in moments of crisis, are counting on us.

In this episode of Compounding Change, host Shannon Davis engages with financial advisors Ed Kindler and Phil Holstrom of Retirement Plan Advisors to discuss their experiences working with firefighters and police officers. They explore the unique challenges these professionals face, the importance of understanding their roles, and the significance of retirement planning for these unique individuals who give so much of their lives toward our safety.

Helpful Links:

Ed Kindler, Retirement Plan Advisors: https://retirementplanadvisors.com/meet-our-team/edward-kindler/

Phil Holstrum, Retirement Plan Advisors: https://retirementplanadvisors.com/meet-our-team/phil-holstrom/

Shannon Davis: https://www.daviscompoundingchange.com/

Takeaways

-The role of financial advisors extends beyond just retirement plans.

-Understanding the unique challenges faced by firefighters is crucial.

-Firefighters contribute significantly to their retirement savings.

-Building trust with clients is essential for effective financial advising.

-Financial education is lacking in many communities.

-Small increases in contributions can lead to substantial retirement savings.

-It’s important to review and update financial plans regularly.

-Firefighters often face intense situations that impact their financial decisions.

-The importance of being proactive in financial planning cannot be overstated.

-Advisors should focus on providing unbiased financial advice. Accessibility is crucial for clients, especially firefighters.

-Social security planning requires personalized attention and education.

Chapters

00:58 Introduction to Compounding Change Podcast

03:28 Understanding the Role of Financial Advisors for Firefighters

06:47 Insights from Fire Ops Training

12:01 Core Messages for Firefighters

18:29 Building Trust with Firefighters

25:55 The Importance of Social Security Planning

29:46 Timing Social Security Benefits

31:44 The Risks of Financial Rollovers

36:35 The Role of Financial Advisors

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Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions.

Securities offered through Cambridge Investment Research, Inc., a registered

Broker/Dealer, Member FINRA/SIPC.

Investment Advisory Services are offered through Retirement Plan Advisors, LLC, a Federally Registered Investment Adviser. Cambridge Investment Research and Retirement Planning Advisors are not related to DavisCompoundingChange.com or this podcast.

Please note that investment involves risk, and no statements made in this recording are indicative of future performance.

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