To an individual who is just starting out on a career, retirement may seem to be ages away. However, time runs fast and soon enough; retirement will come knocking your door. How well will you be prepared for retirement when it comes knocking? A lot of people enter into retirement without the fundamentals of how to sail through it smoothly. David Giertz, an industry expert, states that a lot of people don’t plan for their retirement until it is too late. They, then end up failing miserably. David Giertz states that individuals should learn to plan for their retirement early enough. He offers a few magic points that will enable you to plan for your retirement accordingly.
How do you start saving for your retirement?
David Giertz notes that it isn’t easy to save for retirement regardless of the size of your monthly paycheck. He says that this is mostly because it is hard to estimate the amount of money that you will need upon retirement. It is important to note that during retirement, you are most likely to spend more than you earn. As the age catches up with you, so are the age-related illnesses. You will, therefore, need more money to pay your hospital bills.
David notes that saving huge amounts of money in retirement accounts may seem to be a great idea. However, if you do your mathematics, you will realize that the money saved for retirement may not be enough. As a result, you might consider looking for alternative sources of income to cover your entire retirement period.
About David Giertz
David Giertz is an accomplished financial advisor based in Dublin. He has a wealth of experience that spans over three decades in the financial services industry. David is a visionary and inspirational leader. He has served in top positions at numerous companies where he has transformed small organizations into billion dollar companies.