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What Does a Retirement Analyst Do?

Retirement analysts help clients plan for retirement and manage their finances.
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  • Written By: Nick Mann
  • Edited By: Jessica Seminara
  • Last Modified Date: 17 September 2014
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A retirement analyst is a person who helps clients plan for retirement and manage finances. Being successful in this career usually requires someone with excellent mathematical skills, organizational habits and interpersonal skills. Generally speaking, it takes a minimum of a bachelor's degree in finance, accounting or a related field to get a job as a retirement analyst. Some typical responsibilities of this career include assessing the financial status of clients, documenting the finances of clients, creating financial reports, identifying retirement options and advising clients on retirement options.

Assessing the financial status of each client is usually the first thing a retirement analyst will do. During this stage, he will discuss some preliminary information, like a client's age, earnings, investments and retirement plans. In order to provide a client with the best retirement advice, he must first get a clear understanding of a client's finances and hopes for the future. For this aspect of the job, it's beneficial for a retirement analyst to have an approachable demeanor and considerable people skills.

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Another part of this position involves documenting the finances of clients. For example, he might determine a client's average weekly, monthly and yearly earnings and all investments. If a retirement analyst is working for a large company, this information will often already be on file. Otherwise, if he is working at a firm or as a freelancer, he will usually need to record this information in a software program. Maintaining accuracy is extremely important, so it's necessary for an individual to have an eye for detail.

Once he has documented the finances of a client, a retirement analyst will usually create financial reports that visibly display this information. In most cases, this will consist of either charts or graphs, and is intended to give a client a better understanding of his financial status. After these have been printed out, an analyst and client can go over the details.

Identifying different retirement options is the next stage of the process. For example, a retirement analyst might discuss a few possibilities, such as social security, a 401(k) or a pension plan. Since financial situations and retirement plans will differ, it's important for a retirement analyst to address the specific needs of each client.

In addition, an individual in this position will advise a client on retirement options and help a client choose the ideal option. Essentially, a retirement analyst will use his findings to choose a retirement plan that will provide a client with the maximum amount of income. Along with this, he will answer any questions that a client has.

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