Planning for a smooth, comfortable retirement with David Giertz

When it comes to life after retirement many Americans are not simply prepared. It’s not entirely their fault, the world changed dramatically over the last 50 years and more and more Americans are realizing that not only are they going to live longer healthier lives, but they may not have saved up enough to retire comfortably. There are also lingering concerns about social security and just how long we can expect to keep it should life expectancy continue to grow.

David Giertz, a well-known financial planning expert has a few pieces of advice to help young and old alike prepare for their retirement dates. For David, failing to plan for something means planning to fail for something, this is why he offers these few pieces of common sense advice that anyone can follow.

  1. You don’t know how much you are going to need

The fact of the matter is that we are all living longer lives than we were before. There was a time when we expected retirement to last only a few years, but today it can last for decades. We can’t all anticipate for the future, but we should prepare to expect the worst.

  1. Investment is key

It is almost impossible to retire on cash alone. Inflation will gradually eat away at your savings unless your money is reinvested and earning gains to mitigate those losses. David Giertz recommends his clients invest in such a way that they have 6 times their annual salary by age 50 and then 10 times by the age of 60. If you can achieve these goals then your investments should carry you the rest of the way.

  1. Watch out for fees and penalties on early retirement

According to David Giertz, people who want to retire at age 55 need 33 times their annual salary to do so. Part of this is due to excessive fees that come from early withdrawals on retirement accounts.

There’s a lot of work to be done in order to retire the entire process can be made easier by hiring a professional asset manager. They can help you plan for your retirement and ensure your retirement fund is invested optimally and safely.