It?s time to save ? When to Hire a Financial Planner for Retirement
Life can be stressful. Whether you?re raising a family or bills seem to be piling higher everyday, it?s tough to see beyond the challenges you face on a daily basis. It may seem like the future is too far out of scope to focus on, but let?s face it, it?s time to start saving. Even if you aren’t nearing retirement age, you can being saving now. For a fulfilled and happy future, you may want to enlist the help of financial advisors and create a retirement plan.
What is a financial advisor? A financial advisor or planner will assist you with any plan regarding the saving, allocating or investing of funds. Most importantly, a financial planner will help you prioritize your monetary needs. Investments can be made at any point in life, but retirement saving requires a great deal of planning. You’ll want to find a good financial planner and discuss ways to achieve financial independence once you’ve stopped working.
It?s never too early to begin thinking about a retirement plan. A scary statistic shows that many people wait until it?s too late: one in five people who are near retirement age do not have any money saved. If you’d like to retire as soon as you’re eligible, you’ll need a financial plan to ensure you have funds to fall back on.
Financial planning for retirement maps out budgets, asset values and a generally outlines your goals to save or spend in the future. Retirement plans and 401k accounts need to be set up in advance so that when you are ready to retire, you have the funds you need when the time comes. It?s a savings plan that accumulates contributions over time, so the earlier you begin to set aside funds, the better. A recent survey found that about 41% of young adults (aged 18 to 29) said they never thought about retirement planning. Many young people simply do not understand the importance of retirement planning, so financial planners can educate them on what goals they’d like to reach and how to manage their wealth. With financial planning, you can calculate how much money you’ll need after you stop working. Do you have children that will attend college? Do you plan on traveling the world once you retire? Will you still have a mortgage to pay once you reach retirement age? These are all things to consider with a certified financial planner. Once you’ve figured out your desired age to retire and the lifestyle you wish to live, financial planning will help you reach those goals. Are you ready to get started? Contact a certified financial planner today and begin saving for your future!