What Is The Life Expectancy Of A Twenty-Five-Year-Old Today Two Reasons to Consult an Investment Advisor Today for Retirement

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Two Reasons to Consult an Investment Advisor Today for Retirement

Retirement can seem impossibly far away for many people, and, as a result, they don’t plan financially for it. More than one-third of Americans have no money saved for their retirement. Many of these people with no savings work in jobs that offer 401k’s that allow people to invest a portion of their income tax-free. About half of Americans do not take advantage of a 401k available to them. The best way to ensure that you will be able to retire at some point in the future is to meet with an investment advisor and set financial goals. Here are two things they can help you with.

Deciding How to Invest Your Money

No matter what your financial situation, you should always invest, even if it’s only $20 per paycheck. 25 years ago, if you invested $1,000 in the stock market, it would be worth more than $14,000 today. If you simply save $1,200 a year for forty years in a 401k, a normal return will give you over $200,000 dollars. An investment advisor can help you decide the best strategy for your money, and where to put it. If you are young, investing in stocks with high risk but high reward is a common strategy. As you get older, it is common to shift capital to more conservative stocks.

Retiring Is An Expensive Life Choice

After retirement, the average American citizen will receive about $15,000 a year in Social Security benefits. A very conservative lifestyle, with little or no travel, will cost a retiree more than $40,000 on average. In short, it is necessary to have savings if you want to retire. A 401k or other stock account is one of the best ways to bridge the gap. In addition, the average life expectancy for Americans today is over 85 years, which is significantly higher than for past generations. This means that retirement will be longer, and therefore more expensive. The normal cost of living will also generally increase when you stop working. With more free time, annual entertainment and travel expenses will often increase dramatically. Making sure your nest egg has enough for you to retire and enjoy is a goal that financial firms can help you achieve. As mentioned above, an investment advisor can help you develop a strategy to build your money over time, and provide you with the necessary amount for retirement.

While most people start dreaming about retirement as soon as they start working, many don’t start planning for it until it’s too late. The sooner you consult with an investment advisor, the sooner you can start growing your money so you’ll have enough to enjoy your later years. Retirement without travel and entertainment is not what many people think of, but without adequate savings, it will be the only lifestyle most can afford.

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