Ideally, planning for retirement at a young age is the best option. This allows investors throughout Seneca, SC, to take advantage of compounding interest to add to their retirement account over decades rather than just a few years.
However, Registered Financial Consultant Matthew Dixon works with older adults closer to retirement who are just starting to plan and save strategically. This does limit the possibilities for some types of investments, but it does not mean that retirement savings are impossible.
Working with Matthew Dixon, a specialist in retirement planning, provides options tailored to your specific and financial reality. In most cases, people are able to tap into investment and asset protection strategies that help them to have the savings they need for their retirement.
Possible Considerations
As an experienced financial consultant, Matthew Dixon starts the process with a close look at your current financial situation, including savings, assets, and future retirement goals. From this information, different strategies may be recommended to help you to begin to build your retirement fund.
- Make retirement savings a priority – while you do not have to give up everything that is not essential, limiting unnecessary spending is instrumental in allowing you to retire as close to your desired date as possible.
- Limit high risk investments – while high-risk investments potentially offer the highest reward, they also have the potential to create a significant loss.
- Maximize IRA and 401k investments – adding to existing retirement funding to the maximum amount each year not only helps reduce potential taxes; it also adds to retirement savings.
