Why Now Is the Right Time to Talk to a Financial Planner

If you’re an Intermountain Health caregiver near retirement, the recent pension changes may feel unsettling. Maybe you’ve worked there for 25 or 30 years. Maybe you’ve always assumed the pension would simply “be there” — steady, predictable, and handled by someone else.

And now?

There’s change. There are options. There are decisions. And that can feel disorienting. So let me answer the question directly:

Is now the right time to talk to a financial planner?

Absolutely, and here’s why.

Change Creates Anxiety and Emotion

Whenever retirement plans shift, people get anxious. That’s normal.

But here’s the danger: When anxiety rises, decisions often become emotional instead of logical. You might feel tempted to:

• Lock something in quickly just to feel secure
• Avoid making a decision entirely
• Or make a move based on fear of the market

A financial planner’s job isn’t to push you one direction or another. It’s to help remove emotion from the process, slow things down, ask the right questions, and evaluate how this decision fits into your entire retirement picture – not just this one pension choice in isolation.

You’re Talking About the Next 30 Years

Most people will spend more time planning a two-week vacation than they will planning a 30-year retirement. But retirement is the next third of your life. This pension decision affects your:

• Monthly income and its stability over the course of your retirement
• Taxes
• Investment strategy
• Social Security timing
• Legacy that you leave for those that matter most to you
• Overall peace of mind

Isn’t that worth a couple of thoughtful conversations? Even if all you gain is clarity – “Yes, I’m on track” or “No, here’s what needs adjusting” – that alone can be incredibly valuable.

More Responsibility Is Now on Your Shoulders

For decades, pensions made retirement feel simple. You worked, you retired, then a check showed up every month.

Now, with the pension freeze and the shift toward greater 401(k) responsibility, more of the outcome depends on you. That means:

• Managing investments properly
• Navigating market volatility
• Structuring withdrawals efficiently
• Keeping up with inflation
• Coordinating tax strategies

That’s not a small task. It requires vigilance and understanding. And if you’ve never managed a significant pool of retirement money before, it can feel intimidating.

If You’re Not Used to Managing Investments

Some caregivers have always relied on the idea that “the pension will take care of it.” Now, suddenly, there may be a lump sum option sitting in front of you . . . a substantial amount of money that you need to manage.

If that feels overwhelming, you don’t have to go it alone. Having someone experienced walk alongside you through market cycles can be invaluable.

The market does go down at times, but it goes up more often than it goes down. The key is understanding how to manage through those periods without making emotional decisions that derail your retirement.

This Decision Shouldn’t Be Made in a Vacuum

One of the biggest mistakes people make is isolating this pension decision.

“Should I take the lump sum?”
“Should I take monthly payments?”

But those questions don’t stand alone. They connect to your:

• Social Security strategy
• Healthcare and Medicare timing
• Spouse’s income
• Tax bracket
• Overall retirement goals

A planner helps you zoom out and see how all the pieces connect.

Remember, just because the pension accrual is stopping doesn’t mean your retirement is falling apart. When properly coordinated, the impact is manageable . . . and even has the potential to be positive. But you won’t know that without running the numbers thoughtfully.

Don’t Navigate This Alone

This is a big change. And big changes deserve careful attention.

You don’t have to surrender control or hand over every decision. But getting a second opinion, especially when retirement is within five years, just makes sense. When it comes to the income that needs to last you for the rest of your life, you need to understand your options, evaluate them logically, and feel confident that your income plan is sound.

Working with a financial advisor can make sure you feel in control and prepared for retirement in the face of all these changes. This next chapter of your life is too important to navigate blindly.

Peterson Wealth Advisors is a registered investment adviser. Information presented is for educational purposes only. Please consult a qualified financial advisor before implementing any strategy.