Until recently I’d never heard of a harbor pilot. When talking with my friend Bill about all the decisions regarding retirement, and navigating the financial complexities he likened it to the concept of a harbor pilot bringing a ship safely into harbor. Let me explain.

At sea, the captain of the ship is in charge.  But in many instances, once the ship nears its destination the captain relinquishes command to a harbor pilot who boards the ship and takes over to complete the journey.

A harbor pilot is a skilled and experienced mariner who is familiar with the local waters, tides, currents, and potential hazards in a specific harbor or port area. Their expertise helps ensure the safe navigation of the ship in potentially tricky or congested areas.

While the captain remains responsible for the ship, they recognize the pilot’s local knowledge and experience, and the two work together to navigate the ship safely to its berth.

In contrast to the myriad of decisions around beginning retirement, the accumulation of financial assets over the years of your career is comparatively easy. You (hopefully) are taking advantage of savings programs available to you in order to build your ‘nest egg.’

But, your ideas about how and where to spend your time and money once you retire can be complex and inter-related.  Where should you draw your income from, when should you file for social security, how will you make the best decisions about long-term care and Medicare?  Where will you live and how will you spend your time?  What will your purpose be once your career begins to wind down?

To successfully transition to retirement you should employ your own version of a harbor pilot. Financial planners, accountants, and retirement coaches can help you navigate the unfamiliar complexities with expert advice pertinent to your situation. You only have your retirement to plan, but they are experts who are very familiar with all the questions and have helped many others along on the journey.

They are like the experienced harbor pilot, providing expert guidance to help you define and then steer you towards your retirement goals and safely navigate potential challenges.