Transitioning the mind of an investor from the “save, save, save” and “grow, grow, grow” mentality acquired during the accumulation phase of retirement planning, to the “protect, protect, protect” approach foundational to the distribution phase is tough.

So says Diane Marra, the sole proprietor and independent advisor representative of the Marra Financial Group based in Nensconset, NY.

Yet ensuring that this change of mindset happens is crucial to the success of any retirement plan.

“Clients must be willing to become educated about this – especially what the difference is between these two phases,” Marra said. “People need to have a philosophy that the protection of their assets is more important than growth in the distribution phase. Not that the growth is not important, but protection has to come first.”

Marra understands why making this mental switch can be a challenge. After all, clients spend the bulk of their lives – their working years – in the accumulation mode. Indeed, change is often difficult to achieve.

Her educational stance regarding the difference between those two modes is one part of the retirement planning services Marra offers clients.

Identifying the most profitable manner for her client to collect Social Security benefits is another big issue for Marra. The answer most would automatically give – to delay taking benefits as long as possible to maximize future payments – may not be the best solution, depending on the client’s individual circumstances.

Yet, if possible, Marra advises clients to wait until 70 to begin collecting monthly payments from the agency.

“If clients do so, they effectively are gaining an eight percent increase for every year they delay,” Marra said. “You just cannot earn eight percent in today’s interest rate environment, so delaying Social Security is a win.”

Her biggest challenge is getting that message out to the general public where potential new clients await.

“The big money wire houses – the ones that show up on page one of Google – have marketing budgets that bury this message,” Marra said. “People need to know that they can delay their Social Security, and that they need to take less risk in retirement. Yet, that choice is not being presented to them. I have clients tell me all the time, ‘how come no one ever shared this with me.’ That is what helps keep me going: when a client realizes the truth of my message and I can begin working with them.”

For more information visit: www.marrafinancialgroup.com