Retirement is an exciting and yet daunting chapter of life for many people. These days, it seems as though you have to start saving for retirement as soon as you are born. Luckily for everyone, finance gurus like David Giertz exist. David Giertz is a financial advisor who has some great advice to offer those worried about being financially set for retirement.
David Giertz has over thirty years of experience working in finance, and is currently the Vice President of financial distribution and sales at Nationwide Life Insurance. He maintains active registration to do business in several states, and has been involved in some recent research related to finances and retirement. In a Wall Street Journal interview, he shed some light on one particular aspect of preparing for retirement. Throughout the interview he stresses the importance of one thing, social security.
Social security benefits have become a big part of a lot of people’s post-retirement income. For this reason, Giertz advises people against withdrawing their benefits too soon. According to Giertz, in order for a person to get the most out of their benefits, they must wait until full retirement age to withdraw from them. He says that research shows that people who withdraw to early are missing out on tens of thousands of dollars over time. This is especially bad for the people whose social security benefits make up almost half of their total post-retirement income.
More and more research is being done on financial planning for retirement, and Giertz would advise that people only work with financial advisors who talk to them about these things. Ignoring this subject matter might lead to detrimental situations for some. There are many factors that can affect not only people’s social security benefits, but affect how comfortable their retirement is over all. With the help of brilliant people like David Giertz, those factors do not have to be as daunting or scary as they might otherwise be.