Retirement savings versus monthly spending?
What kind of person do i need to work with to provide advise on how much I should be saving for retirement versus spending on a monthly basis?
Public Comments
- speaking to a finacial advisor would be of great help, try amerprise financial. they would be good for also investing the money you put aside.
- Before running off to speak to a expert, you need to sit down and figure out where your money goes each month. Everything even down to that cup of coffee. Next you cut expenses. You now have freed up money to start saving for retirement. Open an IRA and start saving. Any of the large financial outfits can set you up Charles Schwab is one. Invest in no load mutual funds to begin with. As your knowledge of investing grows then venture into stocks.
- The people who deal with these matters are the financial advisers and there are good and bad ones. You can choose to pay them by commission from the finance cos. involved or by fee from you. The latter is better, because the advice will be less biased. Of course the plan should be in an IRA (preferably Roth IRA), to avoid tax.
- There's a lot that goes into this.... Go to 401k.com and click on "retirement planning made easy". It will ask a few questions and tell you exactly how much you need to be contributing to reach your goals for retirement.
