No matter where you are on your Retirement journey, Servant Solutions is here to help you plan with confidence. Here are five strategies to consider as you save and plan. Servant Solutions wants to be your life-long financial planning partner. We’re available with multiple tools and planning documents to help you arrive at your retirement years well-funded.
At Servant Solutions, our Church 403b Retirement Plan has provided quality investment choices for a number of years. Our firm belief? That carefully diversified investments and consistent saving habits are key ingredients to building adequate assets for retirement. This is especially true as we ride the rollercoaster of large percentage swings in the market. Amidst the chaos, many prognosticators are making predictions and forecasts. But how do we view them through an accurate, healthy lens?
Over the past two decades, the markets have experienced roughly seven different viral outbreaks, and the market has been able to recover from all of them. We do not pretend to know what will happen with this current outbreak, nor are we able to answer your questions as to where the ‘bottom’ is, when the market may recover, and what you should do with your investments. However, we can look to history for some answers.
Today a majority of economists surveyed believe the quarters ahead may be a little more challenging and may include more volatility, that is, more ups and downs. Most economists also believe that we are overdue for a recessionary period. No one can predict for sure. But looking at past cycles, it is normal for markets to take a breather and digest economic activity in bull markets when investments have gone up significantly.
As good as it sounds to have to think only one time about what you’re contributing to retirement and be done with that decision, such an approach will likely result in a significant shortfall in retirement funds. To say you may find yourself exasperated with your account balance when you’re closing in on your time of retirement might be an understatement.
From Christmas splurges to vacations to nights out with friends to everything in between, it’s easy to spend beyond your budget. Start with a quick review of your budget. You’ll likely find that making a few simple adjustments can get you back on track. Consider using these simple, practical strategies to put your savings on the right track.
