David Giertz is one of the well-known financial advisors in the country and has featured on many popular commercial TV channels, including CBS, CNN, and others. He has served at various posts at the reputed financial firm, Nationwide Finacial, and even managed the sales and distributions of the company’s distributing arm Nationwide Financial Distributions Inc.
David Giertz has a unique take on how the people should plan their retirement as it is one of the most important financial priorities that one must not skip. However, more often than not, it has been seen that people tend to put retirement planning in the backseat, which leads to having financial insecurity at a later age.
David Giertz says that just putting aside a good portion of your income in a retirement account is not going to be enough for retirement planning. It is because during retirement, income would be less and expenses would be too high. Thus, David Giertz says that you would have to find ways for your income to multiply itself and grow consistently.
And, therefore, David Giertz believes that making the right investments is the key to success with retirement planning. As per the usual standards, you would have to save nearly ten to fifteen times of your yearly income by the time you turn sixty. Having this figure in mind is essential as it would help you save as well as invest accordingly. Ascertaining the financial needs upon retirement is the first step to retirement planning successfully.
There are traditional and Roth IRA that you can choose from to put your money in depending upon your income. It is a great way to save up your money and continue to make consistent income from it. It would help in creating a volume by the time you retire. David Giertz also says that people must even have a brokerage account as it would help give access to broader investment markets, which provides high returns. It would also add diversity to the investment and make way for long-term wealth creation. It does have risks attached to such investments, but ideally, long-term investments are known to be a giver in such markets.