People opt to know how to secure financially stable retirements. The greatest idea of saving for early retirement is by saving large amounts of money into the retirement accounts. However saving alone cannot sustain all the financial needs. For this reason, people planning for early retirement should invest.
Proper and strategic investments serve as a ticket to financial freedom. Investments usually act as extra sources of income. David Giertz highlighted a few things people should take into consideration while investments decisions that are smart.
Early retirees should ensure that by the time they are retiring, they have saved enough money that will last them adequately during the after retirement period. After saving enough money the next important thing that should be looked into the best retirement plan.
Some of the best early retirement plans include Roth IRA. The plan allows early retirees to make withdrawals of their savings any time before reaching the age of 59. The only requirement needed in this plan is to pay withdrawal fees and no penalties are charged.
According to David, people going for retirements before reaching the age of 55 years should use the Substantially Equal Periodic Payments (SEPP) plan otherwise known as 72(t) rule. The plan allows retirees to make withdrawals from an IRA, 401(k) or 403(b) as long as the withdrawals are equal for more than five years. Completing the savings account with a brokerage account is the most suitable way of securing a retirement that is financially stable.
David Giertz is a renowned financial advisor. He has a wealth of experience and has been in the financial services industry for three decades. He graduated with a Bachelor of Science degree from Millikin University. He attended the University of Miami and graduated with an MBA.
He is the current President of the National Financial Distributors Incorporation. He is also a financial advisor in the same company. David is a registered broker with FINRA. He lives in Ohio.