John T. Slicer

February 10, 2009

John Slicer had become fairly successful as a motivational speaker and master of sleight-of-hand performance magic, but the "love of my life" and their children together gave him pause. What about our future? What if disability strikes? How will we live? How will I provide for our loved ones?

Such questions prompted Slicer's transition, first for himself and then for others, onto the "slippery slope" of financial planning.

"Most people think about investments when you talk about financial issues," Slicer told Putnam Rotarians today, "but there is a whole wealth of issues beyond investments when you think about taking care of your overall financial picture.

"You can do it yourself." he said, "or you can look for professional help."

Slicer recommended some internet sites open to the public. The Retirement Income Calculator offered by T. Rowe Price is especially helpful, as is the site on retirement investing maintained by the American Association of Individual Investors.

"If you want to find professional help," said Slicer, "look for scope of their work, competence, coordination, and how-do-you-pay." An instructive web site goes under the unlikely name of Motley Fool. Remember, however, that like most online information, the Motley Fool sponsors are trying to sell you on their particular services. But their take on advisor options is solid.

A stock broker has a license to trade stock. An analyst looks at stock performance. Don't hesitate to ask about their competence. What certifications do they hold?

How is their work coordinated within the investment community, and how is it coordinated with your personal needs?

Finally, how are they paid? Do you pay a flat fee for their services, or is their cost included in brokerage and performance?

Most people are accustomed to calculations which give precise answers. But inflation rates and investment returns are estimates at best. Nevertheless, professional advice and assessment tools can provide a more rigorous assessment of the likelihood of successful planning.

Rotarian John Slicer is associated with the McKinley Carter Wealth Services of Charleston and Wheeling. John's father, William T. "Pete" Slicer, is a Paul Harris Fellow and Past President of the Charleston Rotary Club.