Retirement is a stage that most people with extended lifespan will have to undergo through. However, this is a stage that is usually complicated for many people. Most people who get to this stage do not have a plan on how to approach life, now that they are no longer in formal employment. In this article, we will be answering some pertinent question about retirement planning. We will look at how one should prepare for retirement and the do and don’ts of the retirement period.
Many people usually approach retirement stage without a plan, which is definitely a sad case. People fail to take caution of basic requirements that are needed at this stage. The saddest part is that most people wait until they retire for them to start thinking about planning. This usually leads to one outcome which is a pure failure. To help us discuss this topic, we will refer to insights from David Giertz, a financial advisor.
To secure a stable financial life after retirement, one must look beyond the monthly paycheck savings. Even if you have a huge salary, the saving that you make, may not be enough to last you all your retirement life. It is also important to note that, it is more likely that during your retirement you might only be consuming with no extra income coming in. according to David Giertz, saving from your paycheck is a good idea but it might not be a viable retirement plan. The point is, money from the savings will never be enough. The brilliant step to take is to look for alternative means of generating income during the retirement period.
About David Giertz
David Giertz is an experienced financial advisor. He has worked in the financial industry for about 30 years. During this time he has worked with numerous companies and has achieved a lot.
David Giertz is a certified business coach registered with WABC. He is also an industry arbiter working under FINRA. David holds a degree from Millikin University. He also has an MBA from Miami University.