Here is part three of the series on how to navigate the financial waters of a committed relationship.
- Plan for your retirement
The question I get asked most often in terms of financial planning is how should couples plan for retirement together? (And most commonly, when?)
We have a very simple answer to that question for every client we meet with: the sooner you start planning for retirement, the better. You can never start too early.
Case in point, I regularly think of my granddaughters and how to teach them to get more money invested in her Indexed accounts. After all, they are probably not going to use that money for 55 years or longer!
Whether you are 18, 28, or 58, start working on your financial future. You can find plenty of tools and options with a godly qualified Financial Advisor.
Most of the tools are simplistic, and many make assumptions I wouldn’t always agree with. The biggest problem is those tools are too general for your specific situation.
Honestly, it’s very rare in the financial planning world to see young couples who are interested in planning for their retirement.
And by young, I mean anyone under the age of 50.
And I would recommend reading some good books on how to properly diversify your assets because you know what they say If you want to hide something put it in a book. And be sure to stay tuned as we are going to do a blog post on good, recommended books to read. Coming soon.
In conclusion, if I had one desire to be fulfilled, it would be when the average age of someone looking for financial planning advice is 30 instead of 55 or older.