*This is a partnered post. All my opinions are my own and not swayed by outside sources*
I had the pleasure a few weeks ago to interview Jerry Golden, who is the president of Golden Retirement Advisors and developer of Savings2Income, a website that offers info and tools to create a plan for worry-free retirement. As a mom, there are so many questions that run through my head about financial stability such as What’s the biggest mistake people make when planning for retirement? or When and how should you start saving for retirement? to name a few. I know I am constantly thinking about the well being of my family and how to save money to make things financially sound for all of us in the future. Jerry graciously gave me a wealthy of knowledge that I thought I share with all of you.
Jerry worked in the financial sides for a couple of decades, where he became involved in retirement planning. He is now a registered investment advisor for retirement planning and doing a plan for a retirement income. He recommends only those products that gear towards developing a secure income in the future. For a retirement income, one needs to take into account social security, pensions, and income from your qualified savings such as a 401K and a personal retirement savings (savings outside of a 401K).
Jerry’s company gears towards the average middle market to help optimize after tax spendable income with basic products. They use a tax managed account at Swab or a no roll annuity IRA to help maximize retirement. They also have a fixed payment annuities to give you fixed income over the years. They offer all of these services to help you achieve a successful future.
Jerry recommended to start thinking about financial planning early if you are able to do it. If you are able to save, it is best to do it at a young age. The most important thing is if you are employed, take advantage of the employer sponsored 401K, with maxing out the employer contribution. If you can afford it, begin a simple IRA or more formal programs that allows you to set aside some of your income monthly.
It is important to start a plan for retirement early. Be sure to get knowledge of various options that are available. Fees are one thing that can have a big impact on how much you accumulate. Also, be sure to be allocated and have diversity between fixed income and equity. If you have savings outside of a 401K, think about deferring taxes as much as you could. These things could make a big difference in the bottom line result of savings in the long run. Also be sure to look at unreimbursed medical and long term care for the future. Be prepared for the future today!
Be sure to check out Savings2Income today to learn more! Convert your economical savings into your income for the future!
*Savings2Income (S2I) provides information, tools, informed opinions, and a planning method that can help you create the most dependable, spendable income for a worry free retirement.
Whether planning for retirement, transitioning into retirement, or already retired, it is never too early to use S2I as your roadmap to retirement security.
Super tips! The earlier you can start, the better for sure!
I agree it’s very important to start saving early. I realized how true this was when my grandma went into an assisted living facility. It was a wonderful place but very, very expensive. I’ve decided we need to start saving now so we can stay in a similar place when the time comes and not have to worry about the cost.
It is so important to start saving early for retirement. I am glad that the company I worked for right out of college allowed me to start doing this, because now I have a nice amount built up. I have still been contributing to it even now as I work from home.
It is important to start saving now. By the time we retire, there will be no more Social Security.
This is so important. We need to start early to make sure we’re prepared for the future!