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So You Didn't Win the Powerball... Now What?

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Personal Finance

January 13, 2016

Didn't Win the Powerball?

You Need a Solid Financial Strategy to Reach Your Retirement Dreams

So you did not win the Powerball. Hoping you would get lucky - as lucky as one in close to 300 million - was probably not a promising financial strategy to count on anyway. So now what?

There are many steps you will have to take in your lifetime to prepare adequately for your retirement years.

Two of the most important are: you must have a plan in place and you must save.

According to the United States Department of Labor, fewer than half of Americans have actually calculated how much they need to save for retirement. Since retirement often is 20 or even 30 years, knowing exactly how you will maintain your lifestyle throughout your retirement years and decades is absolutely essential.

Of course earning more income can be very beneficial in helping you reach your retirement goals. One concept is creating multiple streams of income by looking outside of your day job.

Jeff Rose of Good Financial Cents provides a wonderful guide on ways to make more money. You can read it here: Guide to Making More Money

Working with a trusted financial advisor can help develop your customized roadmap to retirement. Your advisor can save you time, ease your concerns about the market by providing a high level of expertise, and most importantly, implement a strategy to help you reach your goals.

If you have questions, schedule a 15 minute call with one of our advisors.

Bayntree does not provide specific legal or tax advice. Please consult with your tax advisor or legal professional for guidance with your individual situation.

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