4 retirement tips for mid-career REALTORS
02/16/2016 | Author: Editorial Staff
Retirement may seem like it’s a long time from now, but experts suggest that you evaluate your retirement plan at regular intervals. Here are four do’s and don’ts to consider at this stage of your career.
Do consider your risk. Look at your risk tolerance and risk capacity. Risk capacity is the ability of your portfolio to make it through financial highs and lows. Risk tolerance is related to how you feel about your investments. Assessing yours may require assistance from a financial planner.
Don’t stop contributions. A big life event, like having a child, may make you think it’s a good time to stop your contributions and use your funds for other reasons. However, you should keep putting aside money toward your retirement.
Don’t make unnecessary upgrades. At this stage in your career, you may be thinking about getting a nicer car or finding a larger home. But increasing monthly payments can cut into funding your retirement.
Do crunch the numbers. It’s common for people at your stage to wonder whether they’re saving enough, using the right types of accounts, or are on track to retire when they thought. This is the right time to visit with a financial planning professional to determine where you stand.
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