Q: How do I know if I have enough to retire?
A: That’s a complicated question. It depends on a few things: your cash flow, monthly expenses, debt, and what you plan to do in retirement.
Q: When should I start planning for retirement?
A: The sooner, the better. If you have to make some sort of course correction with how much you are saving (or where you are saving it), smaller changes earlier in the process can create greater benefits.
Q: How much should I set aside for retirement?
A: If you participate in your employer’s plan, and they match your contribution up to a certain amount, we suggest contributing at least that much (the matching funds are FREE MONEY!) Beyond that, we’d need to have a conversation with you to see what makes sense to meet your financial goals.
Q: Why should I work with a financial advisor?
A: Much like you don’t self-diagnose an illness and go to a doctor, working with a financial advisor who is a fiduciary can help ensure you navigate a good course for your retirement. Financial advisors can help identify obstacles to retirement you may not have considered.
Q: What is a fiduciary? Are the financial advisors at BG Wealth Advisory, LLC fiduciaries?
A: A fiduciary must always act in the best interest of the client. Yes Barbara Gulin and Michael Porembski are both fiduciaries.
