5 Tips for Fruitful Retirement Planning

Retirement planning is a must. It’s what will allow a flow of income to come in once a person no longer earns a paycheck.

Recent studies have shown that approximately 45 percent of Americans have no retirement savings. This is problematic for a number of reasons on LinkedIn.

Contribute to a 401(k)
According to David Giertz, a broker in Dublin, Ohio, saving for retirement is all about making good decisions.

Pay Off Debt
Everyone should work with a financial advisor to work on paying off debt. This will ensure that once retirement occurs, no money is going out on past debt.

Wait on Social Security
According to David Giertz, hold off to apply for Social Security until age 66 and two months. It will allow for the full amount and make it easier to have sustainable income.

Start Paying into an IRA
Everyone should pay into an IRA. The average amount is $2,000 a year. Once a person hits 65, that money can then be drawn out monthly to provide additional income for retirement purposes.

Look at Sustainable Housing
Many people waste their money on rent. This poses a problem once retirement begins, warns David Giertz. Those who are retired are on a fixed income. If rent goes up each year, a person’s finances become unstable.

Following the tips, as David Giertz recommends, has the potential to result in a more fruitful retirement.

Learn more about David Giertz: https://www.crunchbase.com/person/david-giertz

One comment

  1. On the off chance that a business offers a 401(k), a man ought to contribute at any rate enough to get the full organization coordinate. Basically, this is free cash that a man can gain for their retirement. It is certainly in which dissertation writing services could have to do all these things and it means which is the main deal too.

Leave a Reply

Your email address will not be published. Required fields are marked *