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David Giertz on Preparing for Retirement

April 22, 2018 - Author: steph

David Giertz believes that most Americans have not saved enough for retirement. When a single or couple decides to retire they are risking their whole life’s work on a few years; that is if retirees hadn’t saved up to that point they have few choices to recoup those past years of saving. Let’s be real about retiring, it’s expensive.

Retirement years can be strained with little money saved, but what augments that insecurity is when those planning for retirement start using retirement money before retirement. Another unfortunate facing retirees are the possible mistake of drawing from Social Security too early since the Social Security system reduces the amount of money a person gets in accordance with the year they retire. If they retire before “full-retirement” it will be a reduction in monthly payments; on the other hand, if they wait till “full-retirement” or later, they have several options. The best option is they are able to work full-time without any penalty. Retiring early, before “full-retirement” age, hurts in several ways. First, lower payouts. Secondly, they can only work only a certain amount of hours weekly.

Preparing ahead with an Individual Retirement Account (IRA) is one of the best choices individuals have for retirement since periodic contributions can be made to the account without penalty and it is tax-deferred. A person is limited to the amount of money a person can put in an IRA. David Giertz has been making financial decisions and helping others in his role as President of Nationwide Finance Distributors for three decades. Mr. David Giertz has given financial advice to many seniors preparing for retirement.

IRA’s and 401(k) Contributions are two successful retirement plans that have worked for persons planning for retirement. One of the benefits of the 401(k) is employers can make a yearly contribution to the plan. The United States is “backed and operated” by the US Government, which means they are given more scrutiny than other financial tools in the financial market. Persons can contribute as much as 24K per year to 401 (k) savings plan.

Safe planning for retirement is a best practice in today’s economy.

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