Be in Comfort with a Solid Retirement Planning – An Overview by Robert Nico Martinelli
Retirement planning is something which you need to start planning as early as possible during one’s work life. You may request the intervention of a professional investment advisor too for this if needed. One should always remember the fact that it is never too early to start planning your finances for even those who think it is late. When it comes to retirement planning, it is better late than never. When they think of retirement planning, the one question people have in mind is how much one requires to retire comfortably? This is a crucial consideration to make. In fact, there is no single-shot answer for this question as the needs and wants may vary from person to person.
Robert Nico Martinelli on retirement funds
Robert Nico Martinelli is a well-known investment and tax planning consultant who specializes in retirement planning too. As per his opinion, people are not sure of doing the retirement planning ideally and are also worried about the taxes to pay after their retirement. Most of these confusions arise from their ignorance about investment management and its regulations. People tend to take some measures to protect themselves from taxes, but most of them are not properly educated to do it the correct way.
While planning for retirement, it is not ideal to follow friends and relatives who simply give you various advice and mislead you. Skilled professional guidance and personalized advice will give you the insights to plan well for your retirement goals and build your portfolio for the best returns.
Savings for retirement
By doing an analysis with the help of a skilled professional, you can easily determine how much you may need to plan for a comfortable retirement. By knowing how much you need to live happily and meet your expenses during your requirement, you can plan it well even before reaching that age. This awareness of how much one needs to save during each stage of life will help you to answer some key questions we asked above.
To plan how much is sufficient for your retirement, you need to actually know how much you may need to survive at different stages. The ideal way to start with is to save a particular percentage of salary to the retirement funds every year. For example, you may save around 15% of the salary to start with and continue it consistently for years. This may be reinvested into various investment opportunities, or you can also plan for contributions to 401(k) or other employer-sponsored plans.
Based on your age, you will be to plan the same for each year until your requirement by doing reverse planning. Guidance from an expert in planning the retirement funds and taxes will also help you derive custom formulas to avoid getting confused with the numbers. Robert Nico Martinelli again reiterates that every individual is different in terms of their needs and their plans for retirement. You need to have clarity on the same at the first point and then take the assistance of an expert advisor to do the reverse retirement planning.