Retirement Savings – How Much is Enough

As a Financial/Retirement Planner, the two most common questions I am asked are, “How much should I have saved so far for retirement?” and “Do I have enough to retire?” While so many advisors, media personalities, scholars, etc. attempt to develop formulas to answer these questions, the reality is the questions are quite simply too difficult to answer utilizing these generic “one rule fits all” approaches.

Saving for retirement can feel like running a marathon without a finish line – a constant and tiring struggle. Lacking a preretirement savings objective can make it difficult to set up a realistic savings plan, determine a retirement budget or even accurately manage your retirement investments. Yet, fewer than half of Americans reported that they or their spouse have tried to predict how much money they will need for retirement, according to the Employee Benefit Research Institute’s (EBRI) 2013 Retirement Confidence Survey. Continue reading “Retirement Savings – How Much is Enough”

The Value of Professional Financial Planning

When you think of all of the ways it affects your life, it’s no wonder that money consistently ranks as one of the leading causes of stress for Americans. In the day-to-day, you might have to worry about an upcoming loan payment or an overdue credit card bill, while in the long term many people struggle to balance retirement savings with a child’s education fund and an underperforming investment portfolio. Financial planning is a complicated balancing act, and it can be difficult to manage on your own. Continue reading “The Value of Professional Financial Planning”

The Importance of an Effective Financial Planner

As the volume of baby boomers entering retirement age increases, the financial planning profession is exploding with more and more “planning professionals” entering the field each day.  This increase of professionals providing financial planning services has led to confusion among consumers in evaluating and selecting a suitable financial planner.  There are quite a few factors to consider when seeking a trustworthy, qualified financial planner. Continue reading “The Importance of an Effective Financial Planner”