Teens and Young Adults in West Bloomfield Learn that Retirement Planning is a Life-long Endeavor

May 1, 2009 - PRLog -- West Bloomfield, MI – Michael McGee, financial advisor and retirement planning expert, was recently interviewed.  He said, “You will need to spend most of your life planning your retirement if you wish to retire in style.  You will face challenges and set-backs along the way, so the important thing is to remain focused on your objective while you keep moving in the right direction.”

When asked, “What if you’re one who is just making ends meet; therefore, cannot save money?”  Michael explained, “Anyone can put aside something, even if it’s just the change from their paycheck, or $1.00 or $5.00.  Every little bit helps.  When the goal of saving a million dollars is unreasonable, simply have a goal to have more in savings than you had before.”

Michael believes that anyone who works, from teenagers to entrepreneurs, needs to be saving.  “Even if your bills exceed your income, you might as well hold a little back.  Of course, this can’t go on for long; therefore, cutting back where you can and striving to improve the situation is necessary.”

Michael explained how it is a good idea to have money in the bank as well as other investments, “One can start with a small amount in a savings account, building it up to enough to deposit into a CD.  You should have enough money in the bank to sustain you for 3 to 6 months should something unforeseen happen, like job loss or illness.  Once you have your emergency fund, readily available, you should consider investing in stocks or mutual funds to save for retirement.”

Michael concluded by saying, “Don’t procrastinate, thinking you have plenty of time to save.  If you’re 20 years old now, you likely think you will never be old.  If you are 65 now, you remember when you thought like a 20 year old and you realize how quickly the time is going by!  No matter where you’re at on the age time-line, the time to take action and begin saving is now!”

Michael McGee provides financial planning, retirement planning and financial advice to people of all ages and income levels, including young families, business owners, entrepreneurs and more.  Michael can help you with everything from college planning to retirement planning, establishing a 529 college savings plan, traditional IRA, Roth IRA, SEP IRA, 401-K, family savings and more.  Learn more at http://retirementplanningoaklandcounty.blogspot.com/

Contact:

Michael S. McGee, MBA
Financial Advisor
888 West Big Beaver Suite 850  
Troy, MI  48084
248-720-0300        
Email:  mcgeeaug@comcast.net

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