Creating a good and financially solid retirement plan involves saving money, sticking to a budget and ensuring insurance requirements are taken care of. However, according to financial expert David Giertz a sound retirement strategy must involve spending the savings on daily needs and on pure fun activities. When many individuals start saving it is difficult at first. However, as they start accumulating money it becomes easier for them to save. When saving becomes a habit, it becomes difficult for one to take money out of an investments or savings account. David Giertz has seen it in individuals who have saved millions or thousands of dollars but are hesitant to save any of their savings. This situation arises because such people are not accustomed to living extravagant lifestyles. Giertz says retirees should learn how to spend money without feeling guilty.
Many people are under the impression that Americans do not have any savings for use in retirement. However, a surprisingly large number of individuals have been successful in saving small fortunes. Such people make such savings by making sacrifices such as drinking home brewed coffee instead of spending money at Starbucks or other local coffee shops.
A good number of retirees are prevented from spending by the thought of unforeseen future event requiring a large amount of money. This leads to a situation where retirees live their lives without fulfilling any of their youthful dreams. David Giertz advises such people to have a healthy balance between saving their money and also enjoying themselves. This may involve traveling once or twice a year or even going to a good restaurant once in a while.
David Giertz is a financial advisor who has more than 31 years experiences in advising people on retirement plans. He worked at Citigroup as a financial advisor before moving to Nationwide Investment Services as a sales person. He is registered broker with FINRA and he is also a registered financial advisor in Ohio.
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