As a retiree a Baby Boomer should expect their financial planner to help them plan for their retirement and that includes advice on how to protect their nest egg.If you are a Baby Boomer AND in or near retirement your Financial Advisor should be advising you on how to protect your Nest Egg in Retirement. If they are not actively working with you to control your Nest Egg you could be in serious trouble. Did your financial planner:

Tell you that in retirement distributing your nest egg is very different to accumulating it?

Help you with a plan to provide you with your income needs for the next five years?

Tell you when to take profits to save to use as income when the market is down.

Show how with good planning your nest egg may last you 30 years or more.

Ensure you know how fees, taxes, inflation and a pension can seriously reduce a nest egg in retirement.

Talk to you about using a stop loss strategy to protect your capital?

Put in plans to minimize fees and taxes?

Separate your volatile stock market investments from your relatively safe fixed interest investments.

Warned you about the sub prime problems and how you could have minimized the impact from it.

If the answers are no, then why are you still with them? Your financial planner has failed you because they should have been preparing you and your nest egg for the distribution phase which is totally different to the accumulation phase.

You should also ask your financial planner to tell you where they have their money invested and how well it is doing.

You need your financial planner to actively maange your nest egg and help you preserve it for the long term. If this is not happening you should consider replacing them.