All roads lead to retirement and saving for this major life event starts as soon as you're working. With tax incentives that we get from the IRS for saving for your own retirement, it's easy. It's cheaper too, if you invest in some solid stock funds and let the global economic growth build your assets over your lifetime. As people near retirement, they almost intuitively want to move to safe and conservative investments. I get it, but I always have to remind clients that at age 65, you could be 20 or 30 years away from your long-term goals.
Investments in money market savings and CDs have never kept pace with inflation and taxes. In fact, every 20 years, our money’s worth about half as much or has about half of the purchasing power. Luckily, there are products that offer principal protection and potential growth from market indexes.
A good financial advisor can help you invest, accumulate, consolidate and eventually plan for the distribution of your retirement assets to you.