Richard Blair of Wealth Solutions is on a mission to provide comprehensive financial planning to families and small business owners in and around the Austin area. If you have ever considered investing for retirement, here are 5 common sense tips that will increase your chances of retiring with a nice nest egg.
Most people wait too late to start investing. For best results you need to start as early as possible. The sooner you start the better off you will be in the long run. Even if you have to start small, just start!
It takes time for your investment to start multiplying due to the power of compound growth. So pack your patience and allow time to do the work.
This is something I am sure you have heard a million times. For best results you should focus on diversifying your portfolio. Spread your investments around in different industries and different companies.
Take Advantage Of Tax Deferred Plans
IRA’s, 401(K)s and profit sharing plans are tax deferred. Take advantage of them by investing as much as you can. Since you aren’t required to pay taxes until you retire you can afford to go all in right now. Doing so will help your money grow faster with each year that passes.
Tamper Your Expectations
Just because you start investing doesn’t mean you will hit home runs every time. There will be some investments that will under perform while others will produce great returns. The key is to learn how to tamper your expectations. Don’t expect miracles when you start investing.
Always pay close attention to the investments that under perform on a consistent basis. This way you can weed out the bad investments and focus only on the ones that will help you produce the best return on investment.
Who Is Richard Blair?
Richard Blair is the Founder and Chief Investment Officer at Wealth Solutions, an Austin based Registered Investment Advisory firm. When Blair founded Wealth Solutions he did so with the goal of making a positive impact on as many lives as he possibly could.
Over the years he has become known as the go to expert when it comes to financial and retirement planning. He is now focused on helping all of his clients bring their vision of a successful retirement to life.
To learn more about Richard Blair and Wealth Solutions visit www.wealthsolutionsria.com.