Retirement financial planning is important for anyone who doesn’t want to keep working in their old age or who won’t be able to. In other words, everyone should give it good thought. If you’re ready to start taking your retirement financial planning more seriously, here are a few things you should know about it:
- There are many different types of retirement plans. Whether you go with a 401(k), traditional IRA, Roth IRA, SEP IRA, or something else, there are many retirement plans for you to consider, and the right financial advisor can help you choose the type that is right for your specific needs.
- There’s no time like the present to begin retirement financial planning. While many people start saving for retirement more seriously in their 30s and 40s, it never hurts to start doing it earlier. Even putting away a small amount each month while you’re in your 20s can help, since your money will have more time to grow over the years.
- Everyone’s situation is different, so you need tailored advice. When you look for tips on retirement financial planning online, you might find a lot of advice that tells you to save 70% to 90% of your annual pre-retirement income. While this advice and other advice like it can help, everyone’s situation is different. It’s best to get advice that is specific to your situation instead.
Planning Bucket can help connect you with qualified and vetted financial advisors in North Carolina who will help you with your retirement financial planning. Reach out today for more information.