Brad Liebe is a dedicated business leader. He is the owner of KK and B Financial Services for Seniors, as well as a motivational speaker and consultant. In his work with KK and B Financial Services, Brad Liebe helps seniors plan and manage their finances for a successful and easy retirement.
Planning for retirement can start at any age, even as early as your 20s and 30s. The earlier you can get your finances in order, the more comfortable you will be in retirement. Here are some tips to help you plan for your own retirement.
1. Decide on your retirement spending needs. It’s important to sit down and decide how much money you expect to need during your retirement. Consider any travel plans or other expenses that might come up, and incorporate those into your future budget.
2. Consider your risk tolerance versus your goals for investment. You’ll need to take some time with your portfolio to ensure that your assets are allocated in a way that best reflects your risk concerns and the gains you expect or desire. Keep in mind that these goals can and likely will change as you get closer to retirement, so rebalancing your portfolio regularly is also important.
3. Keep your timeline in mind. The time between your age now and the age at which you expect to retire will have a significant impact on the allocation of assets in your portfolio. The younger you are when you begin to save for retirement, the more risk your portfolio can tolerate. As you get older, you will likely be more risk-averse and want to move some of your assets into more secure options.
Planning for retirement can start at any age, even as early as your 20s and 30s. The earlier you can get your finances in order, the more comfortable you will be in retirement. Here are some tips to help you plan for your own retirement.
1. Decide on your retirement spending needs. It’s important to sit down and decide how much money you expect to need during your retirement. Consider any travel plans or other expenses that might come up, and incorporate those into your future budget.
2. Consider your risk tolerance versus your goals for investment. You’ll need to take some time with your portfolio to ensure that your assets are allocated in a way that best reflects your risk concerns and the gains you expect or desire. Keep in mind that these goals can and likely will change as you get closer to retirement, so rebalancing your portfolio regularly is also important.
3. Keep your timeline in mind. The time between your age now and the age at which you expect to retire will have a significant impact on the allocation of assets in your portfolio. The younger you are when you begin to save for retirement, the more risk your portfolio can tolerate. As you get older, you will likely be more risk-averse and want to move some of your assets into more secure options.
