Successful retirement planning all comes down to prudent, routine management of personal finances.

Senior citizens have managed for decades, notably through some of the toughest times this world will ever see. Yet sometimes we drop the ball and succumb to procrastination or, worse, a basic fear of the so-called complexities of the financial world. Strip away the verbiage and suddenly financial matters become a matter of common sense.

Use "common sense."

Rule one: If those complex, technical-sounding words and phrases fail to make good, common sense, something's wrong - not with you, but in the way your financial advisor delivers an explanation.

Rule two: confidence. It's your money. Have confidence in knowing that you can understand any aspect of the financial world. You can and deserve to know everything about your investments. But you must have enough confidence in yourself to demand clarity when you ask questions, no matter how basic the questions may be. Demand to learn on your own terms; the more you learn, the more confidence you will have.

Rule three: Stamp out intimidation. Some brokers and financial advisors hope you'll be intimidated enough to simply follow their orders with unquestioning faith. Let common sense and intuition help you spot the intimidators. They're the people and companies that never seem to have enough time for clear, careful explanations. They seem to have more of a hurried interest in your money than in your complete peace of mind.

Rule four: understand. Do you understand the precise nature of your financial situation? Do you fully comprehend what you and your money are doing? In other words, are you aware of the current "real rate" of your investments? Can you name the amount of "real rate return" you received on your investments last year? The year before? Can you go to a file drawer, right now, pull out the appropriate documents and point to your exact rate of return?

If, instead, the documents look like a hopeless blur of tangled numbers and foreign terminology, you would probably respond to the above questions this way: "Well, I don't know, but my broker says I'm doing great." If that's your answer, then you are being intimidated. You lack the confidence to demand clear, concise explanations. You can understand by using good, common sense.

Rule five: Have a clear understanding of where you stand when it comes to the threat of moving into a nursing home. Do you completely understand, today, what would happen to your investments, your home, your entire estate if you were suddenly incapacitated? Or, are you vaguely dependent on a friend or relative's ability to sort things out in your absence? If so, you may not understand the issues facing most estates. So many people brush off the vital issues until it's too late: until they die. They often have no idea whether or not their will would go through probate, let alone how to financially survive a "living probate" situation. And far too many people fail to realize what they actually have in terms of assets. Even more people lack the slightest clue about where they would go if faced by a nursing home crisis.

Rule six: Do not procrastinate. Some people avoid financial matters because from arm's length, things like taxes, nursing homes and investments sound like dry and complicated issues. But you may be surprised because much of it can be fascinating, especially when it applies to you and your money. As you study the working gears of your financial machine, try to envision yourself and your own holdings as they apply to the workings of that machine.

Rule seven: Don't sit cowering in a state of confusion. Hiding won't help because it destroys your peace of mind and a good night's sleep. Get help and guidance and you will see the light at the end of the tunnel. But only you can take the first step.

Rule eight: Always get a second opinion. We always get a second opinion when doctors diagnose a major illness. Diagnosing the condition of an estate is the same thing: every part of your estate affects your overall financial health. From the way you manage your daily finances to the long term care insurance you might choose, everything is linked together like an integrated body. Second opinions from qualified experts are crucial for wisely balanced decisions regarding your life savings and having a golden retirement with peace of mind.

Rule nine: Don't rush into anything. Make sure you fully understand the nature of an investment; for example, include the risks involved as well as the advantages. If a breathless broker calls to insist that you take advantage of a so-called "incredible" opportunity immediately, hang on to your check book and think it over. Are you getting enough information, or does some sketchy explanation sound too good to be true? Take a deep breath and let common sense be your guide.

Rule 10: Check out the people you intend to deal with. When it comes to choosing financial advisors, too many people base their decisions on snap judgments or an affirmative nod from a friend. Many would be surprised if time were taken to conduct a real background check.

A quick call to your state's insurance regulatory agency, the Better Business Bureau, the Securities and Exchange Commission, the local Bar Association and other entities could quickly tell you whether an advisor has received complaints during his or her career.

Rule 11: Do you like the person you're currently dealing with? When you call his or her office, do you often find yourself put on hold for a long time? Does your advisor return phone calls in a prompt and friendly manner? And when was the last time you heard from your advisor without having to initiate the contact?

More importantly, did your advisor take time to visit and really get to know you, or do you feel that you were simply sold something and then abandoned?

How often does your advisor take time to sit down with you and review your overall situation? You should be hearing from him or her from time to time about changes in tax laws, Medicare, the economy and your assets. Ultimately, you should not only feel comfortable with an advisor, but also respect your advisor's attention to detail, depth of knowledge and overall professionalism.

Rule 12: Review your progress. As noted before, your advisor should contact you at least once a year to make sure you're on track financially. Your advisor should review any significant changes in the economy, tax laws, new rules or opportunities regarding health care and other topics.

Then you should review the various parts of your estate, which should fit together like a beautiful picture puzzle. At the center of the picture is a grand castle containing a pot of gold. And it's a lovely picture, suitable for framing. It should make an attractive gift to pass on to your children.

Ron Roberts is founder and president of Roberts Retirement Group, 10590 Sunset Drive, Suite 11, Jackson. He can be reached at 223-7870. Fax him at 257-0156.