Clayton Shum
Clayton Shum

Retirement is a pivotal turning point, a time of excitement and uncertainty. After decades of work, many retirees look forward to newfound freedom. However, that transition brings complex financial questions. Clayton Shum, a seasoned financial planner with over 20 years of experience in retirement planning and wealth management, brings thoughtful insight, expertise, and a steady hand during this critical life stage.

Shum has seen firsthand how confusing the retirement landscape can be, particularly for those stepping away from the workplace for the first time. The moment when savings become the primary source of income catches many people off guard. Questions begin to pile up. "Will my savings last as long as I do? Am I making the right decisions with taxes and distributions? Should I move money out of my employer-sponsored plan, and if so, why?"

The emotional weight of these questions is immense. Retirees may feel unequipped to assess their financial options and end up relying on past habits or well-meaning advice from friends. At the same time, they may face new concerns, like legacy planning, market volatility, and rising healthcare costs.

Many wish to seek guidance but hesitate. "I've heard many people say, 'Why would I pay someone when I've always managed just fine?' or 'My employer handled everything.' These are valid, but I want retirees to see the broader picture," Shum states.

The financial planner stresses that once the employer's role ends, so does the built-in support. "The plans that were designed to help employees save during their careers typically offer minimal service once retirement begins," Shum adds. "There might be no proactive advice, no routine check-ins, and no one to call when markets swing or something else unexpected happens."

Shum acknowledges that although financial professionals play a critical role in this context, the industry itself can be difficult to navigate. He's aware of shortcomings that can make retirees feel unsupported. For instance, they may be presented with one-size-fits-all strategies that lack the nuance they need. In some cases, compliance standards may be loosely interpreted, leading to misunderstandings or unmet expectations.

That's why Shum encourages anyone considering an advisor to take a thoughtful approach. Interview more than one. Ask questions not just about strategies, but about service, communication, and alignment of values. Shum states: "You wouldn't trust your health to just anyone with a white coat and a title. The same goes for your financial well-being. Credentials and reputation are important, but so is the ability to connect, explain, and follow through."

Shum shares what thoughtful, long-term planning should look like. Seeing himself as a long-term partner, he champions a comprehensive and highly personalized approach. It's designed to ensure clients receive ongoing support, especially during the first few years of retirement when guidance matters most.

"That means clients receive investment strategies and ongoing help with distribution planning, risk mitigation, tax coordination, and more," Shum explains. He checks in frequently, especially early in the relationship, to ensure there's a foundation of trust and clarity. "It's all about addressing real-time concerns and adjusting the plan when life inevitably shifts," says Shum.

For retirees bombarded with headlines and tips from neighbors or online forums, Shum assists with tuning out the noise. He helps them craft a financial plan that aligns with their goals, risk tolerance, and lifestyle preferences. Moreover, he isn't afraid to ask the tough questions. "For example, I ask my clients, 'Would you trade peace of mind for higher returns if it meant sleepless nights during a downturn?' Their answer reveals more about their values than any spreadsheet could," Shum shares.

Ultimately, the transition into retirement should feel empowering, not overwhelming, especially amid the Silver Tsunami. With someone like Clayton Shum, retirees can gain a partner who understands the emotional and practical dimensions of this life phase. Shum says, "It may be tempting to go through this period alone, but having a thoughtful, engaged advisor by your side can make all the difference in how your finances perform and how you experience this stage of life."