Based in Frisco, Texas, Christopher Fess works as a financial advisor at Fess Financial. He assumed the position in 2003, after 14 years in the financial industry. One of Christopher Fess’ specialties is retirement planning.
Early midlife is the second of three phases of retirement planning. It lasts roughly from the age of 35 to 50. People at this stage might have mortgages and student loans to pay, as well as credit card debt or other financial difficulties. That said, it is crucial not to give up on retirement planning at this stage.
The financial strains might be high, but the income is also typically a log larger than in the young adulthood phase. If one already has 401(k) or IRA accounts, it is wise to keep investing in them. Even a regular IRA account is the right solution if a Roth IRA account is out of reach.
Last but not least, it is still not too late to start a retirement fund. The compound interest might not have as many years to grow, but a smaller retirement fund is better than no retirement fund.
Christopher Fess 