"It's not an easy thing to save and invest consistently for retirement. And part of the challenge is that it's hard to put a finger on exactly how much money you'll need. After all, there are so many variables. There's the potential for Social Security cuts. Inflation could drive living costs higher. And healthcare expenses could rise at a rapid pace, eating into your future income."
"In a recent Northwestern Mutual survey, 75% of Americans who have a financial advisor feel they'll be ready for retirement. Only 45% of those without a financial advisor feel the same. If you're someone who's not a natural saver and doesn't know much about investing, then it could pay to work with a financial advisor early on in your career. A financial advisor can help you: Manage your income so there's room for IRA or 401(k) contributions Set realistic long-term savings goals"
Working with a financial advisor can improve retirement readiness, with 75% of advised Americans feeling prepared versus 45% without an advisor. Advisors can help manage income to allow IRA or 401(k) contributions, set realistic long-term savings goals, select appropriate investments over time, and manage retirement plan withdrawals. Retirement planning is complicated by uncertainties such as potential Social Security cuts, inflation, and rising healthcare costs that can erode future income. Matching services can connect individuals with vetted advisors who must act in clients' best interests to help build confidence for retirement.
Read at 24/7 Wall St.
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