Bohemia, NY (PRWEB) September 20, 2013
Chris Hobart, founder and CEO of Hobart Financial Group comments on an article published by Fox Business on August 27th, which discusses nine factors that should be included in all retirement plans.
According to the Fox Business article titled “9 Building Blocks That Should Be A Part of Everyone’s Retirement Plan,” many Americans choose to plan for their vacation over planning for retirement. However, most people are also vastly uneducated when it comes to retirement planning best practices, the article says. While each person has different priorities and needs when it comes to retirement planning, the article also says that there are some basic elements that everyone should consider when thinking about their future after they leave the workforce.
The article says there are nine sequential steps to retirement planning:
- Starting early
- Developing a budget
- Plan out expected lifestyle after retirement
- Don’t forget about health care costs
- Estimate risk tolerance
- Assess taxes
- Invest in other assets to create an emergency fund
- Finalize an estate plan or will
Chris Hobart, founder and CEO of Hobart Financial Group in North Carolina, agrees with the article, stating that starting early and developing a lifetime budget will help people evaluate how much they must save and how they should spend their money when they retire. “It’s imperative to start saving for retirement early," he says. “When you start early, you have a better chance of securing the needed funds to live a happy life when you leave the workforce. Starting early also gives you a higher advantage when investing in other options and allocating funds for emergency health care costs.”
Sometimes financial planning can be a burden and many people are inexperienced with retirement plans, Hobart says. “In order to ensure you are getting the most out of your retirement, you should hire a financial advisor,” he says. “Financial advisors are knowledgeable about most products and can lead you in the direction you want for a comfortable retirement.”
Hobart Financial Group is an independent North Carolina financial advisory firm dedicated to personalizing service with uncompromising integrity. Its focus on comprehensive, tax-advantaged plans help to provide sound preservation of capital, growing income and increased returns with reduced risk. Chris Hobart, founder of Hobart Financial Group, understands that true wealth means being able to share your life with the people you love, free from financial anxiety. Hobart Financial helps Carolinas’ retirees preserve and protect their wealth with comprehensive financial retirement planning and wealth management.