Early retirement is a goal that many people aspire to achieve, but it is considered difficult to realize. Most people are trying to figure out the best strategy to end their working career early, but there is always potential for making the wrong moves financially. Taking the advice of someone who has been in the financial field for over three decades can be of great benefit.
Financial advisor David Giertz has that insight based on his professional experience. He began his career with Citigroup where he worked for 10 years, ultimately rising up the ranks to become the Executive Vice President of Sales. As part of Nationwide he helped increase revenue. As the leader of the Financial Institutions Bank channel he helped boost revenue from $1.5 billion to $8 billion.
More recently, David Giertz worked as President of Nationwide Financial’s sales and distribution organization. His expertise helped grow the channel from $11.7 billion to $17.8 billion, and can also help individuals focus better on their early retirement goals. His three steps should be considered by anyone striving to achieve this in their life.
First and foremost, Giertz believes that individuals trying to retire early need to save enough money. This depends upon one’s age, but the standard recommendation is to have saved 10 times one’s annual income by the age of sixty. Someone who wants to retire earlier will need to put aside more money in order to accommodate their goal.
Giertz also believes a flexible retirement plan is an important step. A Roth IRA is a retirement plan for people earning under $118,000 per year. However, it has the advantage of building up over time and being an account one can withdraw from with no tax penalties once the account holder reaches the age of retirement. A few other plans to consider are the 401k and 72t rule which have no minimum restrictions.
The third and final step is to make sure to invest as much extra savings as one can. This allows the money to compound and increase over time through various investment vehicles. An individual should consider which particular retirement accounts to use, as well as which investments will provide the best potential returns.
Saving and investing for retirement doesn’t have to be stressful and it shouldn’t be a guessing game. Taking advice from someone holding the experience that financial advisor David Giertz does can go a long way towards achieving those early retirement goals.
Find out more about David Giertz: http://financial-advisors.credio.com/l/314999/David-Giertz