wealth accumulation

As an experienced financial advisor, Keith Mooney understands that maintaining a comprehensive wealth accumulation strategy is one of the most important missions you can have in life as it will be your main source of income after you retire. As you continue to build your nest egg, here are three key points to consider as you pursue your retirement objectives:

    1. Have a plan flexible enough to incorporate major life changes. As Ben Franklin once said, “Nothing is certain but death and taxes.” There are going to be circumstances in your life (health issues, relocation, marriage) that will require you to reevaluate where you need to contribute or redistribute some of the money that you’ve been saving. That’s why examining potential sources of risk is necessary so that a plan can be modified to manage any negative effects.
    2.  Determine a savings goal to meet each month. It’s important to take an aggressive approach to savings earlier in your career to save enough for retirement. A long-thought strategy by financial advisors was that people save at least $1 million to enjoy a comfortable retirement. More recently, tactics take into consideration longer lifespans and current income. A common benchmark nowadays is a plan that can maintain an 80% replacement rate.
    3. Be sure the investment advisor is someone you identify with. Remember, you are depending on this person for your financial independence later in life. One important point to consider is the importance of an Investment Advisor Representative. They are held to a fiduciary standard which is a responsibility to put the needs of their clients above their own. And the more comfortable you feel with your advisor, the easier it will be to build a relationship built on trust and confidence.


Investment strategies can be the most important responsibilities you have regarding your future. If you need a CERTIFIED FINANCIAL PLANNER™ to help you with these strategies, then visit Mooney Lyons at mooneylyons.com, or call us at 1.847.382.2600. We’ll help you realize realistic wealth accumulation strategies for a confident retirement.

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. No strategy assures success or protects against loss.

by Keith Mooney, CFP®, ChFC and CLU®.

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