Life after retirement is one of the most common issues that people tend to focus on, and there is a myriad of things to consider, including what to do and avoid. Many people are not prepared when retirement approaches, often waiting until it is upon them, before making the necessary planning. This leaves many retirees in a position to fail. One of the top financial advisors in the industry, David Giertz, recently gave his perspective on how to approach retirement in order to achieve the best results.
Regardless of salary, saving for retirement can often be a very tricky situation, due to the fact it is difficult to estimate an adequate amount to cover the entire retirement. Saving money in retirement accounts is an option, but this may not be enough without sacrificing great percentages of your monthly income. When this seems to be the case, the investment may often be the proper move to rescue your long term financial situation.
In doing this, it is important to realize, it is not always the amount of money you invest, but more so, the way you invest it. Knowing when and where to invest can be the key to garnering extra income that may help you along the way. When saving money through conventional means, it is recommended that you save at least six times your yearly income by the time you reach the age of 50. This, in itself, can be an incredibly difficult feat. According to David Giertz, the best way to invest for retirement is to actively manage a brokerage account in conjunction with your savings account. In doing this, you would be able to have access to different currencies, and stocks and bond markets. These brokerage accounts will allow you to be flexible in regards to the amounts you can invest and withdraw.