Financial professional Dale McCarty


October is National Financial Planning Month, and with just a few months in the year, now can be a good time to plan for your financial future. What can you do best in 2019? Do you have a plan in place?

You may have a savings account, but are you on the right track to reaching your financial goals? Retire, repay debts? Financial professional Dale McCarty of Retirement Designers Financial gives some tips to start building your future.

1. What are some things people at home can do to start making a financial plan together?

– First, it’s never too late to start planning and saving for your future. Financial planning should be seen from a global and long-term perspective. It’s not just about saving for retirement, but also making sure you can deal with the unexpected.

– It is also a good idea to write down your goals, consolidating short and long term plans. By starting a plan, you can set milestones or goals that you can use to track your progress. Maybe you save your tuition, travel, or allow charitable donations within your budget.

– Reassess your finances, establishing an annual budget and a monthly budget to manage your overall expenses. By doing this, you can help keep expenses in check and set you up for long-term success.

– Determine what your debts and additional expenses are.

2. What are some things people might tend to overlook when it comes to financial planning?

– I encourage everyone to bring in a financial professional to help start a plan. They can help you determine what is best for your situation because everyone is different.

– The closer you get to retirement, the more your goal shifts from earning money to preserving your money. Now is a good time to think about changing the financial tools you use to manage your money.

– Another area that tends to be overlooked is tax planning: are you efficient with your money? Changing your approach early on can pay off down the road.

– Also consider estate planning as part of your overall plan.

3. How do I know if I have enough money set aside for retirement?

– If you are not currently on track for retirement, one consideration would be to delay your retirement. Recent research from the National Bureau of Economic Research suggests that delaying retirement by 3 to 6 months can have as much of an impact on your standard of living in retirement as saving an extra percent of all labor income for 30 years. .

– Try to make sure that you at least contribute to any available employer pension plan and a possible match with the company.

– A good financial plan is one that can help you reach your financial goals.


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