Financial Advisors recommend saving early for retirement

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RENO, Nev. (KOLO) – Heading into retirement is a big move that requires careful planning. When making this transition, having a pre-retirement plan is critical to building a foundation for financial success in your golden years.

© Provided by Reno KOLO-TV Heading into retirement is a big move that requires careful planning.

As the year is coming to an end, now is the ideal time to prepare if you are planning to retire soon. Beginning your retirement means planning for the expected and preparing for the unexpected. It is important to position your portfolio of stocks and bonds for both. If you are behind, prioritize saving over investing if you are behind.

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Rachel Mormon, Financial Advisor at Edward Jones, mentioned the best way to begin this process,

“Work with a professional because there are little things we can do to maximize the weather that they’ve earned and often when people go to retire they have accumulated more wealth than they ever have in their life, so really trying to structure that to make it last while also trying to achieve their goals, we make it personalized,” Morman said.

Retirement savings are to last 25 to 30 years, advisors say start planning early for a better opportunity to save an amount you can live off of during that time.

For more information on preparing for retirement, click here.

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