As a partner with SignatureFD, based in Atlanta, Georgia, hearing that one of his retired clients is considering or has already given money to family members makes the financial planner in him concerned.

“One of the biggest challenges for retirees is to limit the amount of money they give to family – especially to adult children – while they are still alive,” Beatty said. Planning for a transfer of wealth in the form of inheritance, as he noted, is an entirely different issue.

In May of this year, Bloomburg reported on a startling national trend: retirees financially supporting their adult children. A 2014 survey by American Consumer Credit Counseling found that one in three U.S. households provides financial assistance to adult children. That’s a higher ratio than the one in five households supporting elderly parents.

Supporting adult children is an enormous challenge on Beatty’s list for retirement success. When people ask him how his retired clients live out financially successful golden years, Beatty has a simple, straightforward answer, “My clients spend less than they make.”

“Putting that concept to work effectively in retirement, however, means setting a reasonable distribution rate,” he said, explaining how that takes advance planning and being able to prioritize goals. Beatty has found, though, that his message of frugality and conservative spending is being heard among his clients.

“Our clients want a more conservative approach,” Beatty said. “They are more concerned with the downside than the upside of the market.”

Preferring to work with open-minded clients who want more than just investment advice from him and the team of professionals at SignatureFD, Beatty favors a holistic, family-oriented approach. This includes advice for living out financial principles in everyday life versus merely giving advice on which investments to purchase.

An emphasis on listening to the client leads each meeting. “There are no individual offices at SignatureFD,” Beatty said. “Everyone works in pods – in teams of two to four per client.” This kind of cooperative environment is what he sees as the greatest success during his 12 years of working in the financial services industry.

“I enjoy this team approach. Going into the office and being able to work on a team together for a client – having that collaborative spirit with the support of peers that forms relationships with our clients is really the greatest success,” Beatty said.

For more information, visit: www.signaturefd.com