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10 Steps to help work toward Financial Success.
| 1. |
Plan early for retirement
Figure out how much money is
needed to retire and establish
an investment plan
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| 2. |
Educate yourself
Read newspapers and investment magazines. Talk to a financial
advisor about basics of finance. |
| 3. |
Understand what you have
Keep up with family insurance
and investments, and know
the value of these assets.
Meet with an advisor to help
make sure your portfolio
is well-balanced.
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| 4. |
Start saving early
Begin saving for retirement as early as possible. The rule
of thumb is to save at least 10% of your pay in a 401(k)
or other retirement account. |
| 5. |
Make a will
Ensure you have beneficiaries on all retirement savings
accounts. |
| 6. |
Prepare for taking a break
One of the biggest obstacles we face in saving for retirement
is breaks in employment. Whether changing jobs or terminated,
work with an advisor to open an IRA. And when resuming work,
save even more to make up lost time. |
| 7. |
Be aware of vesting
Be aware of vesting requirements for pensions, 401(k) accounts,
and other benefits. If you leave a job before the vesting
period is completed, you may forfeit your pension or a portion
of your company’s 401(k) match. |
| 8. |
Don’t be afraid of the stock market
Plan carefully with an advisor, research and find an investment
within your risk tolerance, then buy it and hold it. |
| 9. |
Get a handle on debt
Consolidate and cut up extra credit cards. |
| 10. |
Pay yourself first
Create a budget to understand where your money is going.
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We offer a free review of your
portfolio, which will enable
us to assist you in determining
the appropriate investments for
you. Everyone has a different
comfort level, and your portfolio
needs to be customized to help
meet your individual needs.
Click
here to e-mail
us for additional information.
Frank Opinion Show
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