April is Financial Literacy Month, a yearly event to raise public awareness of the importance of financial literacy and maintaining smart money management habits. We believe that a healthy financial future starts with financial education and literacy. We firmly believe that it’s never too late to start your financial literacy journey.

We’re celebrating this April by introducing our team of talented fiduciary advisors who will share their knowledge, expertise and actionable insights on relevant financial topics. We believe that by opening access to greater financial literacy, we further Retirable’s mission to empower a confident, worry-free retirement for everyone.

Today’s spotlight is on Adrian Rodriguez, CFP®, Financial Advisor at Retirable.

Get to know Adrian Rodriguez, CFP®

Adrian is a Certified Financial Planner (CFP®) with seven years of experience in financial services. He started his career in banking while going to school full-time for financial planning. He graduated with a B.A in Financial Planning, and Economics. After graduating college, Adrian started his career in a boutique planning firm in Princeton, NJ. While there he passed and earned his Certified Financial Planner (CFP®) certification.

He began working for Retirable because he believed that everyone should have access to the same planning services that he provided to his high net worth clients at his old firm. Adrian has a strong commitment to serving his community outside of work as he serves as a site coordinator for the IRS VITA program, and financial counselor for individuals under the NJ state poverty line. Adrian also enjoys weightlifting, cooking, and housework.

Why is financial literacy important to you?

Financial literacy empowers individuals to make informed decisions regarding their finances. Better money management, vigilance against fraud and scams, and an improved quality of life are all skills stemming from developing and attaining financial literacy.

What do you love about being a financial advisor?

I love being able to help people on an individual level. After I finish talking to a client and hear the relief in their voice about finally being able to achieve a specific goal like making the transition to retirement, I know that I made the right decision choosing to pursue a career in financial planning.

What is an area of finance that many pre-retirees/retirees are not familiar with, but understanding it may help their financial picture?

An area of finance that many pre-retirees and retirees should understand is that planning for retirement is completely different than planning in retirement. Your needs are different, your lifestyle is different, and therefore your strategy is going to be different.

While you are working, your main goal should be to build a habit of consistent saving. Save as much as you can and invest for the long term. Ultimately, what you invest in during this stage isn’t as important as the saving habit itself. But as you get near retirement, we know you will need to draw from this money, and therefore you will need a different strategy for investing as you draw on your investments for income.

This element of financial planning is known as decumulation planning. It is important to have someone that specializes in decumulation planning to help guide you through this important transition in your life.

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When should an individual elect Social Security?

One of the most common questions we get from retirees is when is it appropriate to file for Social Security benefits. There isn’t a straightforward answer because it is different for everyone depending on their plan, goals, and specific circumstances. Working with a planner who specializes in Social Security optimization is crucial to making sure you maximize your benefit.

For example, many people assume to elect Social Security right at 62 even if they’re still working without realizing the Social Security Administration (SSA) will penalize and reduce your Social Security benefit if earned income goes above a certain amount.

Another tricky part with Social Security is electing to maximize your lifetime benefit. Typically, people’s full-retirement age (FRA) is the benchmark to reach, and retiring before that age may require you to have sufficient savings and assets to live off of while waiting to elect your FRA benefit.

Social Security election is much more complicated than submitting a request to start your payments. Working with a planner takes into account all the different aspects of your current finances as well as your future projections in order to make the best choice for electing benefits.

Why should people work with Retirable to build their dream retirement?

Think of your financial planner as the captain of your ship. Before you start on any voyage, you need to choose your destination and the route you will take to get there. Once at sea, the ship will inevitably drift off course. As a passenger, you don’t notice the slight shift in direction. You trust and rely on the captain to steer the ship back on course. That is my job here at Retirable. A certified advisor and captain for your retirement.

Financial Literacy Month is a great time to start building your ideal retirement. Schedule an appointment with Adrian today!

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