Planning for retirement could look simple, but it is not. A good percentage of the working population is known to plan for their social security early enough by engaging financial advisors. These people have a smooth transition from their working life to the retirement life. On the other hand, some people wait until very late in the day to start planning for their retirement. Some people see it wise to ignore the retirement topic during their active days, only to start planning when retirement finally catches up with them. In most cases, these people do not succeed in their plan.
David Giertz’s Advice
David Giertz, a renowned financial advisor, believes that planning for retirement is mandatory and should be done early enough. According to him, having a big salary is not a guarantee for a smooth retirement life. He argues that since it is hard to estimate the amount of money one will spend the entire retirement life, a well-structured plan should be on the table before retirement. He also notes that retirement comes with small earnings and big expenses, which means that one depends on his savings for survival. Without enough savings, they deplete fast making retirement life unbearable.
As a way of ensuring that savings last longer even after retirement, David Giertz advises that it is important for everyone to set up an income-earning project before going for retirement- this project can be an investment. Giertz points out that a good investment is that which is smart; an investment where the investor understands how, why, where, and when to invest.
There is no standard amount of saving that one should have before retirement. However, David Giertz advises that any working person should ensure that his savings by the time he hits 50 are equivalent to his 6-year salary. By the time he hits 60, his savings should be in the region equivalent of a 15-year salary.
David Giertz’s is one of the most inspirational financial advisors in the world. His tenure as president of Nationwide Financial Distributors Inc. started in 2013.
In his three decades career as a financial expert, David has worked for companies such as Nationwide Financial Services, Inc. and Nationwide Financial Distribution and Sales.