Retirement Life Simplified by David Giertz

Many people retire without the basics to live smoothly. Many get to retirement and then start planning only to fail tremendously. David Giertz, a great financial advisor, gave some of his tips to go about retirement life.

David believes in saving for early retirement is never easy because you do not know how much money you need. Meanwhile, spending is always higher than income. David encourages saving chunks of your income into the retirement plan and increases your income opportunities for financial stability. Moreover, an investment is a key to a smooth retirement life however you need to understand when, how and where to invest.

You should understand your retirement needs, and then you will know how much you need to save. According to conventional saving, you need to save six times your yearly income by the time you kick 50 years and ten times by 60. Therefore, by retirement times, you would have roughly saved 13 to 15 times. David believes, if you start early, you will get to at least 33 times savings of your annual income.

After knowing the amount, you should evaluate the best retirement plan. A person withdrawing from retirement savings early before 59 ½ years, will experience 10% penalties. David encourages to escape the penalties, those earning less than $118,000 annually income can consider Roth IRA, those making over $ 118, 000 should go for the traditional IRA or 401(k) withdrawal method. Other ways include the rule of 55 and 72(t) among others.

David Giertz is an inspirational leader and an incredible financial advisor who has over 30 years of experience. He attained a BS degree from the University of Millikin and with an MBA from the University of Miami.David has worked with many successful companies. He works for WABC as a certified business coach and also with FINRA as an industry arbiter. David Giertz is passionate about helping people from getting into financial crisis.