A wealth management strategy’s success in Barrington is primarily due to the knowledge and experience a Barrington wealth manager brings to the table. For the sake of the client, the wealth advisor must be able to make changes and adjust the retirement strategy according to any situation the client may face in their lifetime.
To help offset any unforeseen circumstances that may draw from the savings built up for retirement, it is always better to start as early as possible in your life. Starting early enables you to take on more risk with the intention of seeing bigger rewards. This strategy is designed with the goal to help you accumulate wealth faster and can help you accumulate more retirement income, as well as help offset an emergency situation that might need short-term funding. As you head toward retirement, you should consider a more conservative approach with your investments. Leading into retirement, the strategy is based more on maintenance so as not to lose momentum with the investments that you already have. It is always recommended that you talk to your advisor to ensure your goals meet the funding strategy you’re developing. This is especially true for people who are at their peak earning years, where funding your retirement should be the main priority because of your higher earning potential.
Another tip to remember: when it comes to seeking investment advice, always check an advisor’s accreditations. For a good place to learn more about professional designations and for tips on choosing an investment advisor, the Financial Industry Regulatory Authority (FINRA) has a website at www.finra.org. After you’ve checked, visit us at mooneylyons.com. We are happy to answer your questions and help you understand your options regarding retirement savings.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. Stock investing involves risk including loss of principal.