Having been in the financial services industry for more than 30 years, David Giertz says he still finds a lot of satisfaction in helping people meet their financial goals. He is a financial advisor who was elevated to management, and then executive level, relatively early in his career. He started out at Financial Horizons Security Corporation in 1989, jumped to Citicorp in 1991, and then joined Nationwide Investment Services Corporation in 1999. He has taken the State Securities Law Exam, Principal/Supervisory Exam, and the General Industry & Products Exam. This accreditation resulted in him being registered with FINRA as a broker.
When it comes to saving for retirement he says that getting started right away at your first job is very important. Every dollar you save when you are in your 20s can be expected in general to be worth about seven dollars when you retire, given past market returns. This is because compound interest and having dividends and interest reinvested over decades is huge. If you’ve waited until later in life to start saving for retirement it is never too late but getting started early is really, really helpful.
When you’re age 50 you should have six times your annual income put away for retirement, David Giertz says. Once you have 13 times or more of your annual income set aside in retirement accounts most people can comfortably retire. He also advises that people don’t take social security when they are first able to and instead wait until at least full retirement age because each year you wait you get another 7% a month under the current law.
David Giertz says that a lot of retirees have a difficult time mentally making the switch to spending from their retirement accounts instead of adding to them. This is perfectly normal but he says that as long as you set a reasonable budget you should feel ok spending your hard earned money enjoying your retirement instead of fretting over spending. Some people worry some big later event logically means they should leave their retirement accounts alone as much as possible but he says this results in many retirees never enjoying their retirement as much as they should be.