FAQ

A financial advisor helps you organize your financial life, develop an investment strategy, prepare for retirement, and make informed decisions based on your goals, needs, and long term financial priorities.

Financial planning looks at your complete financial picture to create a strategy for reaching your short and long term goals. Your plan may consider retirement, investments, income needs, taxes, family priorities, charitable giving, and other important financial decisions.

Retirement readiness depends on your savings, pension benefits, Social Security, expected expenses, income needs, taxes, and lifestyle goals. A financial professional can help evaluate these factors and determine whether your resources align with the retirement you envision.

There is no single number that works for everyone. The amount you need depends on your desired lifestyle, retirement age, expected expenses, income sources, healthcare needs, inflation, and how long your retirement may last.

Investment management involves creating and maintaining a portfolio designed around your financial goals, timeline, income needs, and tolerance for risk. Your investment strategy should evolve as your circumstances and financial priorities change.

The appropriate amount of risk depends on factors such as your age, goals, investment timeline, financial resources, income needs, and comfort with market fluctuations. A personalized investment strategy should reflect your individual circumstances rather than relying on a one size fits all approach.

Investments are only one part of your overall financial picture. A financial advisor can help ensure your investments work together with your retirement goals, income needs, tax considerations, family priorities, and long term financial strategy.

The Florida Retirement System, or FRS, provides retirement benefits to eligible public employees in Florida. Participants may face important decisions involving the Pension Plan, Investment Plan, DROP, service credits, accumulated leave, and other retirement benefits.

The Deferred Retirement Option Program, or DROP, allows eligible FRS Pension Plan members to effectively retire while continuing to work for a specified period. Whether DROP is appropriate depends on your retirement timeline, financial situation, pension benefits, and personal goals.

The appropriate choice depends on your individual circumstances, including your career timeline, retirement goals, financial resources, and need for flexibility. Understanding the differences between the two plans can help you make a decision that supports your long term retirement strategy.

Your options for your DROP funds depend on your personal financial situation and retirement strategy. Important considerations may include taxes, income needs, investment goals, risk tolerance, and how the funds fit into your overall retirement plan.