Saving for Retirement – Start Early!!
Saving for retirement can seem daunting and complex, leaving many of us overwhelmed and unsure of where to start. Certified Financial Planner Nick Bucci aims to demystify this process, providing invaluable insights into why early investing is paramount for securing a comfortable retirement.
Delving into the advantages of retirement accounts over traditional savings avenues, Nick illuminates the long-term path toward financial growth.
This topic is critical for all young adults to understand, so Epee offers it as a free PSA just for registering.
Introduction & Agenda
Financial Advisor and Certified Financial Planner Nick Bucci outlines his background in Financial Services and the agenda for the course.
Tax Code
Nick explains the differences between retirement plans, including the 401(k) and 403(b).
Why do I need to plan for my retirement?
Understand why pensions are mostly a thing of the past, and how all of this relates to needing to plan for your retirement.
Why should I save in a 401(k) or 403(b)?
From tax advantages to a company match, learn why you should save in a retirement account – even if you have a savings account.
Using a fun example, Nick shows how far a dollar goes when put in a savings account vs. when added to a 401(k).
The Impact of Saving for Your Future
Learn how when you start saving and how much you save for retirement determines how your money grows.
Nick defines compound interest with a relatable example and discusses how to make having one million dollars in your retirement account achievable by the age of 65.
How much should you save, and how should you utilize the company match? Nick has the answers!
The Process of Investing
Once you decide you want to save, keep these things in mind as you get started with investing.
Understand asset allocations, and how your money should be split between stocks and bonds depending on how close or far away you are from retirement.
Find out what a mutual fund is, and what advantages it provides as opposed to investing in individual stocks.
Nick explains why it’s not wise to time the market or chase performance.
Investment Options
Discover your options for investing, and become acquainted with target date and glide path funds.
Learn the differences between the traditional 401(k) and Roth 401(k), as well as IRAs and Roth IRAs.
Looking for professional help with retirement planning? Here are some tips for what to look for in a financial advisor or Certified Financial Planner.
Summary
In this closing lesson, Nick summarizes the key takeaways of this course.
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