If you’re like most people nowadays, you’re worried about whether you’ll have enough money for retirement. In the mid-20th century, most retirement money was held by companies and paid out as pensions.

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Since President Gerald Ford signed the ERISA Act of 1974 into law, people have been able to manage their retirement accounts individually, such as with IRAs.

Managing your retirement savings on an individual basis is more common in America today. — Photo by: Gary S. Chapman/GettyImages

Today, however, fewer workers receive guaranteed pensions and more people are becoming responsible for managing their own retirement funds. As more Americans begin planning for retirement individually, there is the increased need to consult with financial advisers. But take caution — trusting your money with the wrong financial adviser may cost you your life savings.

On this Inside E Street, discover key strategies for selecting the financial adviser who’s right for you.

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