Financial planning is crucial throughout all stages of life, but many people think retirement planning can be left until later. In reality, however, it is never too early to start planning your retirement. While saving and planning for the future is rarely easy, following these steps will give you the best chance of achieving your retirement goals.
There are two main types of retirement plans - Defined Contribution and Defined Benefit plans. While there are pro and cons to each type, both plans grow tax-deferred. Defined Benefit pension plans are becoming the less common retirement plan so if you find yourself in the less than 10% of retirees to have a pension, consider yourself lucky!
There are two main types of retirement plans - Defined Contribution and Defined Benefit plans. While there are pro and cons to each type, both plans grow tax-deferred. Defined Benefit pension plans are becoming the less common retirement plan so if you find yourself in the less than 10% of retirees to have a pension, consider yourself lucky!
Services
We are a full-service financial consulting firm specializing in personalized retirement, tax planning, and estate conservation. We are trained, licensed professionals, who draw upon years of financial planning experience. Our firm is completely independent, so our loyalty belongs exclusively to our clients-not to a parent company.
Lex Hackley is a Registered Representative and an Investment Advisory Representative with LifeMark Securities Corp. and Managing Director/Founder of Front Range Financial, LLC located in Centennial, Colorado. As a Financial Consultant, Lex holds both Series 7 and Series 66 securities licenses as well as numerous insurance licenses and certifications.
Financial planning is crucial throughout all stages of life, but many people think retirement planning can be left until later. In reality, however, it is never too early to start planning your retirement. Most people spend the bulk of their waking hours either working, getting to and from work, or thinking about work.
Generating a sufficient retirement income is all about efficiency. It's about making adjustments to minimize tax, maximize your income, manage your assets, and make your assets last as long as you do. Every person's investment strategy should be unique based upon their age, income, assets, liabilities and retirement goals.
Social security benefits are a key component of most retirement plans. Not because the monthly figures are particularly large, as they vary greatly, and for many people, these payments do not make up a significant portion of their projected retirement income. Rather, the main reason they are so important is that they are extremely reliable and provide a solid baseline income to rely on.
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