While you and the rest of Washington DC residents are deep in your spring cleaning chores, have you checked another matter that also rightly deserves some dusting off — how’s your long-term financial plan? In case you don’t know, April is National Financial Literacy Month, a rather fitting time to spring into action when it comes to planning your financial future. If you already secured a plan, this is a great opportunity for you to talk with a wealth advisor for wealth management in Washington DC and take another serious look at it to make sure you’re still “on track” to reach your financial goals.
This information from a 2013 survey conducted by the Employee Benefit Research Institute reveals how people are behaving with regards to their financial plans:
The percentage of workers confident about having enough money for a comfortable retirement is essentially unchanged from the record lows observed in 2011. While more than half express some level of confidence (13 percent are very confident and 38 percent are somewhat confident), 28 percent are not at all confident (up from 23 percent in 2012 but statistically equivalent to 27 percent in 2011), and 21 percent are not too confident.
Retiree confidence in having a financially secure retirement is also unchanged, with18 percent very confident and 14 percent not at all confident.
No matter how old you are or what your goals are, wealth management firms in DC recommend that you start planning as soon as you can. If you’re still in your 30s and retirement seems a lifetime away, it’s still in your best interest to begin saving now for the future — “right away” because your youth will certainly work to your advantage.
AOG Wealth, with more than 100 years of combined industry experience, will assist you in figuring out how much you will need for retirement. Visit their website at www.aogwealth.com to request a Complimentary Consultation. The company serves areas in Northern Virginia, including Great Falls, Reston, Potomac, Arlington, McLean and Georgetown.
(Article Excerpt from EBRI’s 2013 Retirement Confidence Survey: Perceived Savings Needs Outpace Reality for Many, ebri.org)