5 Tips on retirement planning, at Any
The end of 2018 is coming up quickly and you’ve probably heard us ask about your long-term health goals, but are you making sure your long-term financial health?
Tony Price, long time member, and Wealth Manager with years of experience in the financial industry have 5 tips on retirement planning, at any age!
Hire a professional!
Studies have shown that hiring an advisor adds an average of 3% annually to returns. Taken over time, this can be a huge difference in not only retiring early, but in the amount you have when you do retire.
Click here to read about the supporting data!
Have a general idea of when you want to retire and how much you will need (your advisor can help there). It is easier to work backwards and set up a plan if you know the destination.
Pay yourself first.
Set up some sort of system where you are contributing to your IRA or other retirement vehicle weekly, monthly etc. If you get a bonus at year’s end, make sure you put some away.
Right now is the best time to start, regardless of your age. Do a little research on the power of compounding interest and you will see why.
Don’t put off tough decisions.
I get it — taking the time to go over your finances, retirement etc. isn’t always first on your list, but the longer you put it off, the tougher it will be.
Please reach out if you have any questions about your own retirement planning, investments, or anything related. Grab me at the gym (Jake says I need to go more often), give me a call, or shoot me an email.
Tony Price AIF®, Wealth Advisor
Total Wealth Advisors, LLC
80 South 8th Street Suite 4900
Minneapolis, MN 55402