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Retirement Planning

If you’re in your 20’s or 30’s, retirement planning may not seem like a priority. However, the younger you start putting money away for your “golden years,” the easier it will be to amass the amount of money you’ll need to live comfortably once you stop working.

Compound interest can turn even a modest monthly investment into a sizeable net worth. However, if you’ve neglected starting your retirement planning until your 40’s or 50’s, don’t despair. An experienced retirement planner at Cornerstone Financial Management, LLC can help you get on track and maximize the tax benefits the government offers to older retirement investors.

Senior Couple.

Elements of a Good Retirement Plan

  1. Diversity. A good retirement plan, like any long-range investment plan includes a variety of investment products, such as stock, CDs, bonds, and 401k accounts. That helps your portfolio retain its value should one segment of the economy decrease in value. This is one area where a good financial advisor can be invaluable.
  2. Free money. To maximize your retirement nest egg, it’s important to take advantage of any “free money”, such as employer matching funds on your company IRA account and/or tax-free investment with IRA accounts.
  3. Consistency. Adding money or a regular basis to your retirement account is probably the single most important aspect of growing your retirement nest egg. Too many people treat their retirement fund as a luxury, only adding money when they have some left over at the end of the month. Ideally, your retirement investment should be a line item in your monthly budget.
  4. Patience. While virtually any investment account will have its ups and downs, a well-planned portfolio will increase in value over time. While it can sometimes be difficult to leave your money in the accounts, such a strategy is essential to growing your money over time.

To learn more about creating a comprehensive retirement plan for you and your family, contact Cornerstone Financial Management, LLC in Columbia, or click here if you would like to have a financial advisor contact you about your retirement planning needs. Our company was founded on the premise that financial security and Christian values don’t need to be mutually exclusive.

Financial freedom begins with a recognition. It is then followed by a decision to leave where you are in pursuit of where you want to be.

Bob Deaton, CFP, CMFC

It isn’t how much money I’m making that will determine my financial success. Rather it is how much I’m keeping and how hard it is working for me.

Jay Brown

If we are planning for our future, we have to begin with the present. If we don’t identify our starting point, we will not have a direction to walk towards.

Ken Calcutt, CMFC

In the pursuit of our financial goals, we must be willing to adjust our strategies.

Robert Templeton, CKA, CRPS, CMFC