I READ with interest the report, "Time to prepare for retirement" (my paper, July 20).

The recent my paper Executive Series talk was a good way to educate members of the public on the importance of understanding and managing their finances, especially during their golden years.

Everyone should plan for their retirement regardless of their age, as it is beneficial for them to predict what would happen if they suffer a serious illness or loss of income.

The earlier a person starts planning, the more prepared he would be should a contingency arise.

However, the Lehman Brothers Minibonds saga has taught us to be more circumspect when choosing a fund manager to work with.

Before engaging an adviser, it pays to ask for references from others, such as former or current clients or other financial professionals.

A good financial adviser is one who respects you, is competent, and will help you educate yourself about money and finances.

He will explain concepts clearly without haste or condescension. It is thus imperative for you to ask questions or seek clarification if things do not make sense to you.

Also, be wary of an adviser who pressures you to invest in only one area or only through him. Most importantly, you need to be prudent and take your time before committing yourself.

Mr Jeffrey Law Lee Beng

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