Retirement Mistakes to Avoid After 50
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- Опубліковано 4 сер 2024
- In your 50s it is crunch time for preparing for retirement. Here are 3 common mistakes you should avoid when planning for retirement.
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Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks. - Розваги
I just turned 47. I decreased my employee retirement contributions to 15% (employer contributes an additional 6%) to focus on paying off my mortgage and building my brokerage account.
I am doing 8% into 457b and 7% in Roth 401a - i work for a university hospital. I hope my plan works out and can retire early :)
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
I totally agree, having good financial advice is invaluable, my portfolio is well-matched for every season of the market and has just yielded 100% from early last year. I and my advisor are working on a 7 figure ballpark goal, tho this could take another year.
@@arlenehill4ril ambitious! could you be kind enough with details of your advisor please? i'm in dire need of retirement planning
I'll be kind with just her name ''Karen Lynne Chess'' a renowned figure in her industry with over two decades of experience. It's best you research her further on the web.
thanks for putting this out.. just came across the consulting page of Karen Lynne Chess after inputting her full name on the web, super impressed with what i've seen so far ...
Too conservative? Maybe
But there is no guarantee you can work as long as you want
Sometimes I just want to quit and retire with very little discretionary spending instead of saving for my dream (which I can now do because I got conservative a little bit)
We have no idea what the stock market will do in the short-term
I took a 10 year liability matching portfolio out of stock market just in case. I should easily make it still, I need 3% real and my fixed income is all paying over 5%
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
Angela Lynn Schilling is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.