Why you need a financial advisor for your retirement savings
January 21, 2021at11:00 PM
Retirement can sneak up on you. It can feel like an ambush. And, if you’re unprepared, it can put you in a real conundrum. Because, the truth is, saving now for retirement is the only way to ensure your golden years will stay gilded. It’s never too early. And, honestly, the earlier you start, the better.
However, navigating investments and savings can be overwhelming. And little mistakes you make can have devastating consequences down the road. That’s why you need a financial advisor for retirement management.
At Help You Retire, we’re expert authorities on retirement management, and we’ve been supplying readers with invaluable advice for years. But, most importantly, we’ve been preserving their future happiness. In other words: you’re in good hands.
So, without further ado, here’s why you need a financial advisor for your retirement savings.
Why should you start saving now for retirement?
1. The sooner the better
The sooner you start saving, the more time your money has to grow. Each year’s savings generate more gains the subsequent year. This is a savings-bolstering strategy known as compounding. And, best of all, this strategy can reduce the taxes you pay on your retirement savings, which ultimately maximizes how much you can save.
However, doing this effectively takes a lot of savvy and understanding of nuanced financial principles. A skilled financial advisor for retirement savings can optimize this.
2. You don’t want to depend on Social Security
The reality is Social Security isn’t meant to be your only income in retirement. These payments only account for 40% of your average income. Nearly all financial advisors agree you need about 70% of your average income to live comfortably and enjoy retirement.
Hiring a financial advisor for retirement savings will help you avoid relying on such an unreliable system. Because, realistically, the future of Social Security is uncertain. And saving now is insurance against such uncertainty.
3. You don’t want to stress out your children
Without the help of a financial advisor for your retirement savings, you may not be able to live independently. This could mean you have to depend on your children. And, while you’ll probably want to spend as much time as you can with them, you’ll want to do it on your own terms.
Living with your kids isn’t how most people envision spending their golden years. But, most importantly, it can put a strain on your children’s family and your relationships with them. And, even if they pay for you to live in a retirement community, this is still a sizable financial burden for them to shoulder.
What should I do to start saving for retirement now?
All of this is good to know, but it can still be difficult to fully understand how to effectively save for your retirement and how to maximize your savings. Simple mistakes, like ill-timed investment losses, can devastate your savings and plans.
Your best bet is to get a financial advisor for your retirement who knows the ins and outs of investments and savings, and who can provide guaranteed and reliable income options. You’ll receive invaluable insight and advice one can only garner from years of experience that will secure your future.
Start saving now to secure your future
We want to ensure you’re fully prepared for retirement. But, most importantly, we want to ensure you can fully enjoy your golden years without added stress or limitations. We highly recommend OWLFI for all your financial needs, including finding the perfect financial advisor for your retirement savings.
Contact them now to preserve your future. You’re only old once; you might as well enjoy it.