By Allen Giese, CLU®, ChFC®, ChSNC®

If you’re a firefighter, police officer, or corrections officer in the Florida Retirement System, your retirement is not the same as everyone else’s. You have different rules, different risks, and different opportunities. Today I want to answer a common question: Do I really need a wealth manager to help with my retirement, or can I just do this myself? Let’s talk about the pros and the cons, honestly, and then you can decide what makes sense for you.

The first benefit of working with a wealth manager is this: Trying to manage your retirement on your own can be risky. And not because you’re not capable. But because life happens. You work long shifts. You deal with stress. You have a demanding career that requires your full attention. And once you do retire, life continues throwing changes and curveballs at you. Retirement planning is not a one-time decision. It requires monitoring. Deadlines. Updates. Adjustments. What happens if you get distracted? What if you misunderstand a rule? What if you miss a window that never opens again? Small mistakes today can turn into permanent consequences later.

Another thing to consider is experience. A good wealth manager has seen this before. We’ve seen people make mistakes with DROP elections. With timing decisions. With taxes. With pension choices they can’t undo. Chances are, we’ve already seen the downside of that thing someone is about to do. Experience doesn’t just show you what can work. It helps you avoid small—and big—mistakes.

A good wealth manager is focused. This is not a side job. This is not occasional work. This is what we do. We study retirement systems. We track tax law changes. We stay current on planning strategies. While you’re focused on protecting the public pre-retirement or enjoying the life you deserve after retirement, someone else is focused on protecting your financial security.

Another big benefit is having a process. A good wealth manager isn’t guessing. There’s a system. There’s a clear order for decisions. A structure that connects your investment decisions, your cash flow and tax concerns, your estate planning desires, and your risk management. Organization creates clarity. And clarity creates confidence. Especially when retirement decisions are permanent.

And there are a few other benefits to using a qualified wealth manager that people don’t always think about: Objectivity. We’re not emotionally tied to the decision. Accountability. Someone is watching the plan when you’re busy living your life. Coordination. Because retirement isn’t just about money. It’s about timing, annual deadlines, and long-term security.

Now, let’s talk about the downsides. First, the obvious: Wealth managers charge a fee. That’s true. And here’s the honest answer: If they’re not worth that fee, you shouldn’t hire them. A good, competent, skilled advisor should add more value than they cost. Through better decisions. Fewer mistakes. Transferable experience, heightened understanding, and smarter planning.

Another concern is hiring the wrong wealth manager. That matters. Not every advisor understands FRS Special Risk. Not everyone knows DROP rules or pension elections. Or the challenges public safety professionals face. And not everyone has been around long enough to see firsthand what happens when less-than-optimal choices are made. That’s why you should ask questions. Do they regularly work with firefighters, police officers, and corrections officers? Do people you trust recommend them? Specialization matters.

This is about understanding your options. Doing it yourself gives you control, but also full responsibility. Working with the right wealth manager gives you experience, structure, and focus. The key part is the right wealth manager. If you’d like to take the next step, you have two simple options. First, we offer a free book written specifically for public safety officers in the Florida Retirement System. It’s called A Public Safety Officer’s Guide to the Florida Retirement System. You can request a copy. No cost. No obligation. Second, if you’d prefer a conversation, we’re happy to meet with you. We can review your situation with no obligation to proceed and no upfront cost. Just a chance to see if working together makes sense for you. You’ve spent your career managing risk for others. Your retirement deserves the same level of care.

Thanks for watching. And stay safe.

Contact us for your free FRS special risk retirement guide: info@northstarplanners.com or (954) 693-0030.