David Giertz- Importance of retirement financial planning

Posted on September 26, 2017

Personal retirement planning is comprised of two vital aspects. There is financial planning and personal planning. Personal planning is the basis on which financial planning will take. For you to plan on the finances, you must first determine how you expect your lifestyle to be like. After determining how you expect your retirement to be like, then it will be possible to move on with the process of financial planning. Financial planning will involve, coming up with ways of raising money that you will use in the retirement stage.

The grave mistake that many people make is approaching the retirement stage/age without a plan on how they will survive. Many people, in fact, start thinking about a retirement plan when they are already out of their jobs. This should not be the case since. A retirement plan should start early in life. For those in formal employment, they should start monthly saving from their paychecks.

Personal planning should start early. Decide on how you would like to spend your life after retirement. There many things that one could be interested in. some people would like to be back to school, others would like to join entrepreneurship among many other activities. The decision you arrive at will influence the next stage, of coming up with the finances to meet these needs.

Financial planning will deal with raising the money needed to meet these plans. What most people do when in this stage is that they start saving part of their paychecks. This is one of the widely applied methods, by does not assure you of any success. Not many people can afford to save enough money to take them through the entire retirement age. Remember the retirement age is normally affected by issues related to healthcare and huge amounts of money usually go towards this. To address such issues it is good for one to come up with a medical; savings account.

About David Giertz

David Gertz is a certified financial adviser. He currently works in Dublin, Ohio for a company known as Nationwide Investment Services Corporation. He worked in this industry for 31 years.

David Giertz also works as a broker and is registered with FINRA. He deals with securities such as bonds, stocks, and currencies.