The question of whether employees are prepared for life after retirement is an issue that many fumbles. Many retire without a stable financial plan. According to David Giertz, a financial advisor; early planning is paramount for a financially stable retirement life.
Securing your retirement
Although there are elaborate government and private pension plans, it is never easy to save. Furthermore, it is hard to estimate how much one need after retirement. Saving one’s income for retirement is the ideal plan for many. However, the saving may not be enough for financial stability as Giertz advice. Therefore, one needs to think of other income opportunities.
Planning for retirement
Careful planning on investment decision is required on where, when and how to invest. First, one needs to be aware of his financial target by the time he/she retire. Then consider the amount of cash to save till retirement. Giertz states that one needs to save up to 15 times of their annual income if he/she has to retire by 60. The rate doubles if one plans to retire early.
The next step is looking for a flexible plan. For those planning early retirement Roth IRA is an ideal plan. It allows withdrawal without penalties but at a fee. However, it is only for those earning $118,000 per annum or less. For those earning more, there is the 401(K) plan. For the best decisions, David recommends one to seek financial expert advice.
For flexible investment, the best way is to have a brokerage account. Mr. Giertz state that the accounts give one access to stocks, currencies, and bond markets. Also, there is a health savings plan. The plan can save the retirees lots medical expenses which are a real burden at old age.
About David Giertz
David Giertz is an established inspirational and visionary leader. An MBA holder from the University of Miami, Giertz has over 30 years’ experience in financial matters. David is a certified broker with FINRA and Business consultant with WABC.
Since 2013 David has been the president of Nationwide Financial Distribution. Earlier he had served at the same company as the president of sales and distribution department. Also, he worked at Citigroup as the financial advisor as well as sales executive vice-president.