Few things are as sad and as frightening as seeing how many older people are living their last years in poverty, dependent upon family to help them survive. In many cases people in such a situation have not make adequate provision for their retirement years. The importance of planning from an early age cannot be overemphasized. A Connecticut annuity advisor can help their clients to create a balanced portfolio of investments insurance policies and savings plans that will make sure that their old age will be trouble free.
Retired people that are financially secure that that can afford to live comfortably are almost always those that have paid closed attention to their retirement plans from a young age. Young people seem to think that such plans can wait and that there is plenty of time. This is a foolish attitude that will almost certainly lead to an impoverished old age. Plans should be made from a young age.
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 take personal charge of the financial matters of the family can be extremely costly. Very few people understand the financial markets and how any specific plan, investment or policy is likely to perform over the long term. It is much safer to get help from a reputable financial expert that can help the family to devise a balanced long term plan that will make provision for all their present and future needs.
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.
It is very important to stay involved with the management of a financial portfolio. Even the most trustworthy experts can miscalculate and there have been many unfortunate incidents where financial planners have caused their clients great harm. Investors should insist on regular meetings and they should receive regular reports. It is also advisable to update the financial plan on an annual basis.
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.
Retired people that are financially secure that that can afford to live comfortably are almost always those that have paid closed attention to their retirement plans from a young age. Young people seem to think that such plans can wait and that there is plenty of time. This is a foolish attitude that will almost certainly lead to an impoverished old age. Plans should be made from a young age.
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 take personal charge of the financial matters of the family can be extremely costly. Very few people understand the financial markets and how any specific plan, investment or policy is likely to perform over the long term. It is much safer to get help from a reputable financial expert that can help the family to devise a balanced long term plan that will make provision for all their present and future needs.
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.
It is very important to stay involved with the management of a financial portfolio. Even the most trustworthy experts can miscalculate and there have been many unfortunate incidents where financial planners have caused their clients great harm. Investors should insist on regular meetings and they should receive regular reports. It is also advisable to update the financial plan on an annual basis.
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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