retirement planning – Christopher Fess

A Chartered Advisor for Senior Living and Chartered Financial Consultant, Christopher Fess works as a financial advisor for Fess Financial. Known for his highly energetic delivery style and keen insight into the matter, Christopher Fess educated thousands of people on the importance of financial planning. He is also experienced in the field of retirement planning.

The later midlife phase, roughly the age between 50 and 65, is the third and final phase of retirement planning. In this stage, it is a good idea to make the investments and retirement-oriented accounts more conservative. People at this stage usually have a considerably higher income than in youth and have possibly paid off some debts.

If one has 401(k) or IRA/Roth IRA accounts set up, they should maintain them. In this phase, it is possible to add $1,000 to an IRA or $6,000 to a 401(k) account per year. Of course, it is still not too late to start saving for retirement, even at this stage.

Investing in particular areas of real estate and buying blue-chip stocks might also be reasonable ways to increase the retirement fund even further. At this stage, it is also wise to start planning the actual year of retirement.

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.

Tag: retirement planning

Later Midlife Phase of Retirement Planning

Retirement Planning in Early Midlife