It is frightening to learn that an increasing percentage of older people are forced to retire without having the wherewithal to sustain their lifestyles. In many cases people have planned and saved for their old age, but the recession and other factors simply eroded their capital. It is equally frightening to learn that the vast majority of people younger than thirty have made no provision for their retirement years. It is very important to seek advice from a professional annuity advisor in Connecticut.
Statistics have shown that those retired people that can afford regular holidays and that can spoil themselves from time to time are inevitably those that started saving at a very young age. Young people must realize that they will probably live longer than their parents did and that they will face a desolate old age if they do not start planning as soon as they start earning.
Many people only start paying attention to their retirement plans once they reach middle age. Many defer pension planning because they have debts and bonds to pay. However, if savings only commence in middle age the monthly contributions can be very high. Many people skimp on their pension contributions in order to pay college fees for their children, for example.
Most large employers offer their employees a pension plan. The problem is that far too many see this as adequate. This is not the case as many newly retirees have found to their shock and dismay. It is necessary to build a portfolio that consists of several policies and savings plans that will ensure a steady income during retirement.
Trying to manage a retirement portfolio personally can easily become a very big mistake. The factors influencing the financial markets are volatile and very complicated. Amateurs can easily be misled by promises of high interest rates and eventual earnings, only to learn that they have lost their capital. It is much safer to ask a professional financial consultant to develop a comprehensive plan that will ensure the financial security of the entire family.
Of course, a financial consultant plays a very important role in the well being of the family and should be chosen with great circumspect. It is vital to make sure that he is accredited by authoritative industry associations and that he has an unimpeachable reputation in the industry. It may also be better to use an independent professional that have no obligations to a specific financial institution.
Asking a professional to manage the financial affairs of the family does not mean that the investor should not be involved. It is vital to make sure that the plan is adjusted as the needs of the family change. The performance of the portfolio should also be checked regularly and any uncertainties should be addressed immediately.
It is a sad fact that many thousands of elderly people are forced to live in poverty. This need not be the case. Even those earning modest wages can start planning for their retirement at an early age. All that is required is some foresight, financial discipline and help form a financial expert.
Statistics have shown that those retired people that can afford regular holidays and that can spoil themselves from time to time are inevitably those that started saving at a very young age. Young people must realize that they will probably live longer than their parents did and that they will face a desolate old age if they do not start planning as soon as they start earning.
Many people only start paying attention to their retirement plans once they reach middle age. Many defer pension planning because they have debts and bonds to pay. However, if savings only commence in middle age the monthly contributions can be very high. Many people skimp on their pension contributions in order to pay college fees for their children, for example.
Most large employers offer their employees a pension plan. The problem is that far too many see this as adequate. This is not the case as many newly retirees have found to their shock and dismay. It is necessary to build a portfolio that consists of several policies and savings plans that will ensure a steady income during retirement.
Trying to manage a retirement portfolio personally can easily become a very big mistake. The factors influencing the financial markets are volatile and very complicated. Amateurs can easily be misled by promises of high interest rates and eventual earnings, only to learn that they have lost their capital. It is much safer to ask a professional financial consultant to develop a comprehensive plan that will ensure the financial security of the entire family.
Of course, a financial consultant plays a very important role in the well being of the family and should be chosen with great circumspect. It is vital to make sure that he is accredited by authoritative industry associations and that he has an unimpeachable reputation in the industry. It may also be better to use an independent professional that have no obligations to a specific financial institution.
Asking a professional to manage the financial affairs of the family does not mean that the investor should not be involved. It is vital to make sure that the plan is adjusted as the needs of the family change. The performance of the portfolio should also be checked regularly and any uncertainties should be addressed immediately.
It is a sad fact that many thousands of elderly people are forced to live in poverty. This need not be the case. Even those earning modest wages can start planning for their retirement at an early age. All that is required is some foresight, financial discipline and help form a financial expert.
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Individuals in need of the services of a professional annuity advisor should consider using this website. There is no better time than now to check out this professional on http://www.annuity-advisor-ct.com.
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