David Giertz Says Yes, You Can Retire Early


David Giertz is business coach who is certified with WABC and was once the president of Nationwide Financial distribution and sales organization, where he delivered strong operating results. He has 30 years of rendering progressive financial services industry experience where he has consistently leveraged strategy, innovation and processes to build profitable growth.

According to David its every man or woman dream to have a successful career and retire at the age of 65 years and have ample time to enjoy the fruit of the labor without a barrier of a regular 9-5 after so many years of hard work and dedication.He says that on the other hand there is a group of people who see this as an impossible goal.

He argues that having enough savings so that you can retire early is an uphill task to to many people because many retire accounts will discipline you for withdrawing your savings too soon.

David Giertz offers the following tips towards achieving financial independence so that you can throw in the towel before social security checks start to arrive:

1.Crunching the numbers is of great importance to make sure your account is loaded enough before you go for retirement. Don’t underestimate the amount of money you have made for the last 35-45 years from the day you became an employee and started saving.Always aim to be saving six times your annual income by the age of 50 and ten times when you are 60 years. For a person considering to go for retirement he or she should save 13-14 times his or her income.For instance a person earning $100,000 annually would need to save between $1.3 and 1.5 million by age 65 and for a person intending to retire at 55 he or she will be required to save 33 times annually. Equally a person warning $100,000 would need to save around 3.3 million

2.When choosing flexible retirement plan one should note that if you withdraw money from retirement account before age 59 1/2 there is a likelihood you could be charged a 10% penalty.A person earning less than $118,000 a year is entitled for a Roth.Its optional to use a traditional IRA or 401(k) though will be charged at an early withdrawal fee.Roth let’s you access your contributions at any time, penalty free.Surprisingly a fee is charged to withdraw money to you have earned from your investment before you are 59 1/2 age.

ROTH IRA is the best option for those planning to go to retirement before reaching age limit. A ROTH let’s you access your contributions at any time, penalty free.
Substantially Equal Periodic payment should not be turned away and its always advisable to seek guidance from someone with financial acumen before embarking to employ the strategy.Its mandatory to pay regular income taxes on the withdrawn money.

In conclusion when investing your extra savings its good to supplement your retirement saving accounts with a brokerage account,this increases your chances of retiring early.An after tax account will give you a good platform to.purchase and sell stocks and currencies and more.Its one of a kind because it allows you to invest as much money as you want and make withdrawals any time.Its important to note that during the golden years many people are prone to diseases because of age factor there incurring health care costs.A penalty can be avoided and one can use that money for qualified health care expenses and for a couple who wants to retire they will need about $275,000 to cover health care costs.

Follow David on social media, including his Twitter account here.


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