Don’t Rely on Luck for a Successful Retirement

Planning for your retirement isn’t a simple answer, and there is never a one size fits all solution that sets everyone up for equal success. The only true piece of advice I can impart to those looking to plan for a comfortable retirement is to never rely on luck alone.

The investment market can be volatile, even with careful planning on your side. Two people with the same amount of money invested in different funds could have drastically different portfolios by the time they’re ready to retire. The only way you can guarantee a successful and financially comfortable retirement is to save more money upfront.

Unfortunately, this is easier said than done. Many people are unable to invest as much as they’d like to, or as is necessary, due to financial restraints or other saving priorities. The easiest way to come at this problem is by starting as early as you can. Even if it’s a small amount, the earlier an investor starts preparing for retirement, the better off they will be. However, as time wears on, an investor needs to continue to increase their contributions as well as carefully plan retirement cash flow and develop an ongoing strategy to see that those needs are met.

To read more about planning your successful retirement, read our article, “Don’t rely on luck for a successful retirement,” in Columbia Daily Tribune.

As a financial planner specializing in comprehensive financial planning, Tim enjoys helping clients in Columbia, MO with managing their taxes, financial risks and other financial issues.

If you would like to learn more about this and other personal financial planning topics serviced by Clarity Financial please contact us at 573-447-7007. Clarity Financial, LLC is a fee-only financial advisory firm in Columbia, MO. Appointments are welcome and initial consultations are free. 

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This article is the property of Clarity Financial LLC.