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.
Studies have shown that most pensioners that are able to maintain a relatively worry free lifestyle have maintained a retirement plan for many years. Young people live with the illusion that there is lots of time. Nothing can be further from the truth. Experts agree unanimously that it is vital to start planning for retirement the moment a person starts earning a wage or a salary.
When they reach middle age, many people wake up and realize that they have not made proper provision for their old age. While it is never too late to start, it must be realized that planning for a comfortable old age will cost much more when contributions start late in life. Many people feel that they cannot afford contributions at an earlier age because they need to focus on paying their bonds and raising their children.
Another common mistake made by too many people is to believe that the pension plan offered by an employer is all that is needed. Pension plans are certainly valuable but they need to be supplemented with a variety of other savings and investment schemes. Only those with a carefully planned portfolio can hope to retire comfortably.
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.
It goes without saying that a financial consultant should be chosen with extreme care. Experts agree that it is best to appoint an independent professional that have no ties with any specific financial institution. In this way it would be possible to gain an objective opinion about the various products offered by the various finance houses. The chosen professional should enjoy an outstanding reputation and should be properly registered.
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.
Everybody should be able to spend their last years without financial worries and without being dependent upon the charity of loved ones. This can only achieved with careful planning and savings from a young age. By paying careful attention to the finances of the family every breadwinner can secure a safe financial future.
Studies have shown that most pensioners that are able to maintain a relatively worry free lifestyle have maintained a retirement plan for many years. Young people live with the illusion that there is lots of time. Nothing can be further from the truth. Experts agree unanimously that it is vital to start planning for retirement the moment a person starts earning a wage or a salary.
When they reach middle age, many people wake up and realize that they have not made proper provision for their old age. While it is never too late to start, it must be realized that planning for a comfortable old age will cost much more when contributions start late in life. Many people feel that they cannot afford contributions at an earlier age because they need to focus on paying their bonds and raising their children.
Another common mistake made by too many people is to believe that the pension plan offered by an employer is all that is needed. Pension plans are certainly valuable but they need to be supplemented with a variety of other savings and investment schemes. Only those with a carefully planned portfolio can hope to retire comfortably.
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.
It goes without saying that a financial consultant should be chosen with extreme care. Experts agree that it is best to appoint an independent professional that have no ties with any specific financial institution. In this way it would be possible to gain an objective opinion about the various products offered by the various finance houses. The chosen professional should enjoy an outstanding reputation and should be properly registered.
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.
Everybody should be able to spend their last years without financial worries and without being dependent upon the charity of loved ones. This can only achieved with careful planning and savings from a young age. By paying careful attention to the finances of the family every breadwinner can secure a safe financial future.
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