Nest-egg planning: An empty house means it’s time to get serious about retirement planning

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(Stock Photo)

(Stock Photo)

Children are rewarding, loving and costly. So, when they start to leave, it’s a good time to start seriously considering retirement and financial planning.

“Usually, starting at about 45 and especially by age 50, people should be developing a specific plan for retirement,” says Travis Morgan, an investment advisor representative with the UCCU Financial Group.

Here are four touch points Travis suggests.

1. Save in the early years.

Young people should take advantage of 401k, employer-matching and saving-incentive plans available to them. Saving early gives people more options later.

2. Seek professional help.

A financial advisor offers a professional and objective view to the process. He or she will have a strong understanding of programs and options available.

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3. Envision retirement.

Couples and individuals should have a clear understanding of how they picture their retirement years. Knowing what post-career years will look like is the first step in planning to financially be able to do those things.

4. Develop a plan.

A qualified advisor can help develop a gameplan to make sure the funds are available when the time for retirement comes. This includes understanding future debts, possible income streams and how to leave a financial legacy.

Travis Morgan is a registered representative offering securities and investment advisory services through Cetera Advisor Networks LLC, member FINRA/SIPC. Cetera is under separate ownership from any other named entity. Registered address: 311 E 800 S, Orem, UT  84068. 801.223-7506.

Investments are not deposits. Not NCUSIF insured; Not insured by any federal government agency. No credit union guarantee. May lose value.

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Greg Bennett

Greg Bennett is an editor and writer with Bennett Communications. His primary responsibilities are with Utah Valley Magazine and the company's custom publications division. He's the father of four children and has been married to his wife, Adria, for 19 years. Contact Greg at greg.utahvalley360@gmail.com.

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