The simple but not easy answer is as soon as possible. Many people don't think about retirement until it's too late. But planning for the future is one of the most important things you can do to ensure a comfortable and enjoyable life after you stop working.
However, trying to plan your financial future on your own is intimidating and confusing. You'll have to determine what kind of investments are right for you, determine where to store your money, and select the right insurance policies. You'll also need to figure out how much money you should be saving each year to reach your goals.
The good news? With a certified retirement planner from Wealth Architects, you are one step closer to a safer and comfortable life after retirement. We believe in taking a personalized approach to wealth management by analyzing the core components of an individual's financial portfolio. Then we develop a customized strategy based on the investor's risk profile, time horizon, savings goals, and investment objectives.
It's never too late to start making retirement plans, even if you're already in your 60s or beyond. There are many reasons why retirement planning is essential. First and foremost, it can be the difference between being broke and homeless in your old age and being able to enjoy the later years of your life with financial security. Secondly, it's a smart way for you to take control of your future and make sure that you're not a burden on your family when the time comes.
For many people, their golden years are filled with joyous memories and fun-filled days. But for others, it can mean a life of poverty and struggle. The key to knowing which path you will take is financial planning. And the sooner you get started on it, the better off you'll be in the long run.
If you're having trouble getting started or want some professional guidance, consider talking to a financial planner who can help advise you about how much and how often you should contribute toward your retirement savings goals.