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Nine Financial Makeovers Frank and Nancy Moore Goal: Buy retirement property

A staggering $2.4 trillion will be rolled over from employee benefit plans into IRAs in the period 2003 to 2010. That, experts say, represents an irresistible target for people in the investment business. Investors age 50 and over always have to operate from the standpoint of protecting themselves. Here are some points to consider before entrusting your money to an investment broker or adviser:

• Get suggestions from people you trust. But "check out the planner's background yourself," says AARP's Sally Hurme, "even if it's your minister making the recommendation."
• Ask about fees. A fee-only planner may charge a percentage of assets (typically 1 percent); a flat rate per project, say, $600 for college planning; or an hourly rate of about $100 to $300. Comprehensive plans can run $500 to $2,000. Some planners also sell financial products. Ask for full disclosure up front so that you won't be subject to influence. "That's how people wind up with expensive products, which pay the planners high commissions," says financial columnist Jane Bryant Quinn.
• A certified financial planner (CFP) has passed a comprehensive exam and stays current with regulations. However, planners are not required to be certified.

To find a planner, go to the Financial Planning Association at plannersearch.org, (800) 647-6340; or to the National Association of Personal Financial Advisors at napfa.org, (800) 366-2732.