Back > Personalized Service  > 4 Ways to Achieve a More Financially Secure Retirement
4 Ways to Achieve a More Financially Secure Retirement

4 Ways to Achieve a More Financially Secure Retirement

David Lerner Associates’ Wealth Management Services

Planning for retirement is a crucial step in securing your financial future. A new study found that 70 percent of Americans plan to retire, but nearly half (42 percent) of them do not think they will have enough savings to do so.

When planning for retirement, it’s important to assess how much you have set aside and how it is growing. Surprisingly, a new study revealed that 21 percent of respondents were unaware of how much money they had in their 401K.

Research has shown that people are living longer in today’s modern world. Advances in science and medical technology have extended our life expectancy. Studies show that older adults should save for retirement that could potentially last 20 years.

With the guidance of skilled wealth management counselors, such as those at David Lerner Associates, you can take proactive measures to achieve a more financially secure retirement. In this article, we will explore four essential ways to enhance your retirement prospects and highlight the benefits of leveraging professional wealth management services.

Start Early and Save Diligently

Starting to save early and maintaining consistent contributions is one of the most effective strategies for achieving a financially secure retirement. By starting retirement savings as early as possible, you can benefit from compounding returns and allowing your investments to grow over time.

Darren Nomberg, Senior Vice President of David Lerner Associates, emphasizes that “seeking assistance from a wealth management counsellor that can help you develop a tailored savings plan aligned with your financial goals, risk tolerance, and time horizon. These professionals can provide you with guidance in choosing the most appropriate investment vehicles for you, including retirement accounts, mutual funds, or annuities.”

Diversify Your Investments

Diversification is a key principle in wealth management and an essential element of a secure retirement plan. By allocating your investments across various asset classes, such as stocks, bonds, real estate, and commodities, you can reduce risk and potentially enhance returns. A wealth management counselor can assess your risk profile and create a diversified investment portfolio that aligns with your goals, protecting your retirement savings against market volatility.

Minimize Tax Liabilities

Taxes can significantly impact your retirement income and the longevity of your savings. A skilled wealth management counselor can assist you in developing tax-efficient strategies to minimize your tax liabilities during retirement. They can provide guidance on tax-advantaged retirement accounts, such as IRAs and 401(k)s, and explore other investment options that offer tax advantages. By strategically managing your tax situation, you can maximize your retirement savings and potentially improve your long-term financial security.

Create a Retirement Income Plan

Transitioning from wealth accumulation to generating a sustainable retirement income requires careful planning. A wealth management counselor can help you in creating a retirement income plan that ensures your savings are structured to provide consistent income throughout your retirement years. They can assist in estimating your expenses, evaluating potential sources of income, and determining withdrawal strategies. With a comprehensive retirement income plan in place, you can approach retirement with confidence, knowing that your financial needs are accounted for.

Benefits of David Lerner Associates’ Wealth Management Services

Partnering with a wealth management counselor from David Lerner Associates offers several benefits that contribute to a more financially secure retirement:

  • Personalized Guidance: A wealth management counselor will closely work with you to understand your unique financial situation and craft a retirement plan tailored to your goals and aspirations.
  • Expert Investment Advice: With access to extensive market research and expertise, a counselor can help you make informed investment decisions and navigate market fluctuations effectively.
  • Risk Management: By conducting a thorough risk assessment, a counselor can develop an investment strategy that aligns with your risk tolerance while seeking growth opportunities.
  • Regular Portfolio Review: Your counselor will regularly review your investment portfolio to ensure it remains aligned with your goals, making necessary adjustments to keep you on track.

Achieving a financially secure retirement requires proactive planning, diligent saving, and strategic investment. By leveraging the wealth management services of David Lerner Associates, you can benefit from the expertise of a dedicated counselor who will guide you through the intricacies of retirement planning. Start early, diversify your investments, minimize tax liabilities, and create a retirement income plan to enhance your retirement prospects. Take the first step toward a more secure financial future by partnering with a trusted wealth management counselor today.

Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

Your Investment Counselor

Skip to content