Retirement and Financial Planning As You Build Your Career

Posted by Marilyn Suey | Jul 16, 2019 | Career & Money | 0 |

Retirement and Financial Planning As You Build Your Career

10 QUICK TIPS

1. Start today to save for retirement, 10% of gross pay, if possible, including any employer match within a 401(K) plan.

2. Build or maintain your rainy day fund of 4-6 months of expenses.

3. Review 2-3 times year, your monthly expenses, categorized by fixed and discretionary. It’s surprising how much is discretionary and sneaks up if one doesn’t watch and review spending.

4. When you receive a raise or bonus, save at least 50% or best, 100% of this. Yes, you can and should enjoy some of your hard earned monies! There will be years that you may not be able to save at all, so save when you can.

5. Review 2-3 times a year or as you desire, your savings and investment accounts. Make sure that the investments you hold, match your personal risk profile, whether aggressive, moderate or conservative.

6. We all have debt, now and again, so manage it, review it, and make plans to pay off, monthly and quarterly. Many now have school loans, beyond mortgages, car loans, etc. Keep an eye on this part of your personal balance sheet, so that you always have positive net worth!

7. For families with children, please take time to review and ensure that you have proper insurance, in case of an unexpected event. We now must have health insurance; and parents should have life and disability insurance if possible, from employer or held personally. There are too many stories of families who have lost a loved one, unexpectedly, and there was no financial back-up in place, putting their family in severe hardship.

8. Additionally, ensure you have proper levels of auto and home/apartment insurance.

9. For couples nearing retirement or planning, they should be reviewing their overall financial plan, including, current and projected lifestyle expenses. Ensuring that their estate planning is updated and in place.

10. For those who own/co-own a business, i.e. real estate ownership; or others, please make sure to retain experts (accounting, legal, financial etc. ) to support you as you build or maintain your business so that it thrives along with you.

About The Author

Marilyn Suey

Marilyn Suey is a nationally recognized Financial Educator, Author, Speaker, and Wealth Manager. She has a deep passion for supporting her clients who are business owners, entrepreneurs and health care professionals to build their businesses, as well as to design their personal financial blueprint that can help guide them on the road toward financial independence. Marilyn’s specialization lies in the cross-section of general management/leadership, finance, and marketing providing her clients customized strategies and solutions to define and design their personal financial blueprint. The blueprint process includes planning for Wealth Accumulation; Wealth Protection; and Wealth Preservation, 3 key milestone goals on your journey toward financial independence. In addition, Marilyn is building a community, called “Savvy Women”, to provide education, awareness, community and collaboration among women who are liked minded. She started with a small group of women in mid 2015 and now has expanded that first group to well over 100 members. She is actively collaborating with other women leaders to deliver value added information such that this community can take control of their work, their wealth and their worth, (Please see reference to book below) She works closely with a select team of advocates and specialists, who are attorneys, CPAs, Mortgage Advisors, and Property and Casualty Advisors, among others to support her clients’ goals and objectives. She is a successful private investor and manages a tri-generation family portfolio of investments. Marilyn has held senior executive roles in the technology industry, including several start-up companies; one that achieved public company status; and another that was acquired by an international telecommunications company. Her 30 years of corporate experience have provided her the management insight to be an advisor to her clients and their families. Marilyn is a life-long learner; from her dual degrees in Applied Math and Economics from the University of California at Berkeley, to her MBA from the Wharton School at the University of Pennsylvania to earning her CERTIFIED FINANCIAL PLANNER TM designation. MEMBERSHIPS AND AFFILIATIONS Member, Financial Planning Association and Northern California Planned Giving Council Non-Profit Board Member Senior Services Northern California, affiliated with the Northern California Presbyterian Homes and Services Books “36 Quick Tips for Savvy Women-Taking Control of Your Work; Your Wealth; Your Worth” Marilyn Suey is a registered representative with, and securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Strategic Wealth Advisors Group, LLC, a registered investment advisor. Strategic Wealth Advisors Group, LLC. and The Diamond Group Wealth Advisors are separate entities from LPL Financial. CA Insurance License #0E01981 For our 2nd opinion service, please contact Marilyn at Marilyn.suey@diamondgroupwealthadvisors.com.

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