After decades in the workforce, many people look forward to retirement when they are free to pursue their passions and spend their days any way they’d like. However, quitting a steady job can be nerve-wracking, especially if you aren’t sure how best to start using your retirement savings.
That’s where Eric Springer of Brookstone Investments comes in.
“Most people aren’t sure what the process is going to look like,” he says. But with 37 years of experience as a financial planner, Springer knows.
He takes a holistic approach to retirement planning which looks at all aspects of an individual’s financial picture. The result is a comprehensive financial plan for his clients that covers everything from their personal savings to their pension to their Social Security benefits.
Landing in Lowell, Thanks to the Pandemic
Springer didn’t set out to be a financial planner. He originally went to school to study pre-med. However, he soon discovered he had a knack for finances and left the pre-med program to pursue a career as an advisor. In 1998, he opened Brookstone Investments.
Today, he serves as a fiduciary – someone legally obligated to act in the best interests of his clients – and operates two offices: one in Grand Haven and the other in Lowell. The lakeshore office came first, and Lowell can thank the COVID-19 pandemic for bringing the business here.
“During COVID, we came to New Union Brewery for their outdoor fires,” Springer explains. From there, he quickly discovered the charms of Lowell and began looking for a place to house a second location for his business.
He landed at 309 E. Main Street in the historic downtown, and in 2023, Brookstone Investments was honored with a Brick Award from the Lowell Area Chamber of Commerce for its work in rejuvenating the property.
Since coming to Lowell, Springer has been quick to lend support to a variety of local activities. He’s a regular fixture at chamber events, and you’ll find him at the annual Riverwalk Festival as well as sponsoring golf outings that support sports teams and other community groups.
Specializing in Comprehensive Financial Plans
On the business side, Springer focuses on comprehensive financial planning and income planning for older individuals who are nearing retirement. He takes a bucket approach to retirement and a diversified approach to investments. That means that while some planners may push a specific product, such as annuities, as the key to a successful retirement, Springer embraces a more holistic view.
As he explains: “What we do is look at taxes; we look at estate planning; we look at Social Security; we look at pensions.”
For the most part, clients of Brookstone Investments are 55 or older and already have money set aside for retirement. However, they need help in putting all the pieces together to create income streams that will sustain them throughout retirement.
Most new clients come from personal referrals, and the first step is always an initial, no-cost consultation. “We try to determine in that meeting if we’re a good fit,” Springer says.
If so, Springer creates a complete written financial plan for the client. The goal is for people to not only feel comfortable retiring but also spending their savings when the time comes. According to Springer, “Being able to see people actually enjoying their retirement in a way they never could have thought (possible)” is one of the most rewarding parts of his work.
To learn more about Brookstone Investments and their services, visit their website. Springer also offers free, educational seminars on retirement topics, and you can watch for those by following the business on Facebook.
Leave a Reply