The Do’s and Don’ts of Retirement


 “START EARLY”: There’s a saying that “the key to successful investing lies not in timing the market, but having the most time in the market.” This is especially relevant advice for retirement planning and investing. Whether you are investing in an employer 401(k) plan, IRA or ROTH account, it is never too late to start saving, and by starting early and contributing regularly, your savings will grow tax-deferred for a longer period of time.

“SHARE YOUR INFORMATION”: Organize all of your pertinent financial information and accounts securely and in one place and then tell a loved one how to access this information. Periodically sit down with this person and review the information.

“THE RULES OF THE ROAD”: Know your plan rules and requirements to maximize all the benefits.

“THE LONG HAUL INVESTOR”:  Statistics show that the average person who lives to the age of 60 today has a high likelihood of living into their 80’s. This means you need to prepare for a long retirement and invest to make sure your money lasts.

Retirement planning senior citizen finance

“MOVE THOSE EGGS”: Diversify your retirement portfolio and move your investment “eggs” into different investment “baskets” to help shield your retirement portfolio from an excessive market downturn.

“SHOOT FOR A 10”:  A good retirement plan goal is to try to save 10% of your pre-retirement income every year. Save more if you can, but 10% will put you way ahead in the retirement game.

“MEET THE MATCH”:  Never leave money on the table. Invest at least the amount equal to your company match every year–and receive “free” retirement money.

“TAKE A BREAK”:  Each dollar you contribute to your 401(k) is deducted from your taxable wages and you avoid paying tax until you withdraw the funds.


“DON’T OVERREACT”:  Make high quality, low cost investment decisions and then…be patient. The cream usually does rise to the top. Don’t panic when small market corrections occur.

“DON’T BE COMPLACENT”:  Don’t think that in retirement things will “all work out.” You owe it to yourself, to your family, and to your descendants to plan for the future. We will help you evaluate your options, learn about the key elements of good financial planning, and carry out the decisions that are right for you.

“NAME A FIDUCIARY”: Name a fiduciary so that your financial and healthcare wishes will be addressed properly if you are unable to act on your own behalf.

“CATCH UP IF YOU CAN”:  Those individuals over 50 who are late to the retirement savings-party can catch up with an extra $6,000 contribution in 2015.

“GET HELP”:  We all want to remain independent for as long as we can. However, there comes a time when we may need help. A retirement specialist who can cost effectively address all of your financial concerns and give you a complete and holistic view of your entire financial picture can provide you much needed peace of mind and financial security.

Call Brennan and Company CPA, PC and ask about the “Senior Secure” Financial Services Program…we can help!