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.
The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.