What is the best way to start re-building retirement savings if your savings has been spent in the past few years of struggling economic times?

Asked by gracie

1 Answer

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Answered by Richard Eddy, Financial Adviser in La Verne, CA
This is a great question. After the tough times that we've had over the past decade, many people are "starting over". Here are some tips for you:


1. Don't get discouraged. It's easy to get down on yourself after going through a rough patch, but you need to stay focused on your goals.


2. Work with a qualified, fee-based, independent financial planner to reassess your financial and retirement plans. They will be able to help you get clarity on your current situation and your goals.


3. Implement your new plans with as much "gusto" as you can! You might be starting over, but that doesn't mean you can't vigorously attack your goals!


4. If you have access to a 401(k) plan at your job, take advantage of any match that they offer. That "free money" can really add up fast.



I wish you well in the rebuilding process! Stay focused, and stay positive! | 10.14.15 @ 17:58
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$commenter.renderDisplayableName() — {comment} | 12.08.16 @ 02:12
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