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Irvine Retirement Planning

Irvine retirement planning starts as soon as you start working. After you have finished high school and college, it's time to enter the real world which includes paying rent, saving up for your own house and preparing for your retirement. As you start to earn an income, a portion of this can go to your pension fund which will ensure you have adequate money to enjoy your life free of debt later on in life. Take the time now to sort through your Irvine retirement planning to ensure you can enjoy all stages of your life, even if you do not have a steady income to depend on.

Pension Savings Options

Setting aside finances for your California retirement plan is only one of the ways to invest your hard earned money. Once you have a steady income and are financially secure, either by renting or paying a portion of your house off each month, you don't want to contribute all your leftover cash into a Roth IRA or other pension account. First of all, it's not allowed. By law, single Irvine, CA residents can only deposit $5,000 per year into a Roth IRA while Irvine CA couples can contribute $10,000 per year. However, in addition to planning to retire, you also need to plan for other things down the road, including family vacations, emergency loss of income and adequate insurance to protect you in the event of a serious disaster.

This is why most residents in Irvine will also start planning for an emergency fund. Try to save three to six months of income into this type of fund in the event that you are unable to work. Insurance and disability coverage will only pay for so much; you will still need some cash to help pay for things that are not covered such as childcare costs and groceries as well as utility bills, fuel and other daily expenses that most of us don't even think about.

College Funding or Pension Planning

One of the biggest concerns when it comes to Irvine retirement planning is how much to invest in your retirement and how to invest in your children. This is a common concern for parents across Irvine. You want to be sure that you are contributing enough to your kid's college fund so that they have all the opportunities when they grow up. It can be hard to put yourself first but, when you are planning to retire, this is often the best thing to do.

There are several different ways for your children to attend college without relying on a college fund. While it is a good idea to contribute as much as you can, your children may also be able to rely on government financial aid, scholarships, grants and other breaks in tuition; you, however, cannot win a scholarship to help pay for your expenses. This is why it is critical to put yourself and your future first when Irvine retirement planning, even if this means skimping out on your kids college fund.

Retiring in California

When it comes to Irvine retirement planning, one of the best things you can do is start early. Make a list of all the things you will need. This includes costs for shelter, food, emergencies, medical costs and clothing to name a few. Make a list of how much you earn, how much goes into your retirement and additional investments, from real estate, stocks and bonds or inheritance to name a few. The more prepared you are now, the better life you can expect when you do retire.

Most people in Irvine, CA retire around the age of 65. However, you may choose to retire earlier than this or you may choose to continue to work part time until you are much older. You may want to spend your retirement doing absolutely nothing or you may want to spend your golden years exploring the world and accomplishing the things in life that you never got a chance to do.

Irvine retirement planning can be done on your own or it can be done through a professional service. Sitting down with a financial planner in California can help you determine your needs for when you retire and make the situation a lot less stressful from the beginning. As your life changes, so will your Irvine retirement planning. As you change careers, get married, become a parent, suffer an illness, move to a different house or even move out of California, you can expect your Irvine retirement planning to reflect these changes.

Get the right advice when it comes to Irvine retirement planning by speaking to a financial advisor in Irvine about your life goals and how to make them happen. Life doesn't end at 65; in fact, with a little preparation and planning, your life can really begin at retirement.

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Retirement Planners In Irvine

Rick Donnelly
Rick Donnelly
2040 Main Street
Suite 150
Irvine, CA 92614

Cheri  Franklin, CFP, AIF, CRPC
Cheri Franklin, CFP, AIF, CRPC
100 Spectrum Center Drive
Suite 900
Irvine, CA 92618

Simon Reeves
Simon Reeves
30 Enterprise, Suite #190
Aliso Viejo, CA 92656

Jerry Slusiewicz
Jerry Slusiewicz
30131 Town Center Drive, Suite 105
Laguna Niguel, CA 92677

Brad Maurer
Brad Maurer
2400 E Katella Ave
Suite 800
Anaheim, CA 92806

Matthew Pixa
Matthew Pixa
3020 Old Ranch Parkway
Suite 300
Seal Beach, CA 90740

Mark Higginbotham
Mark Higginbotham
21515 Hawthorne Blvd
Suite 580
Torrance, CA 90503

Zain Griffith
Zain Griffith
9701 Wilshire Blvd
Suite 1000
Beverly Hills, CA 90212

Paul Taghibagi, CFP
Paul Taghibagi, CFP
2121 Avenue of the Stars
Suite 1600
Los Angeles, CA 90067

Theodore E.  Saade CFP®, AIF®, CMFC
Theodore E. Saade CFP®, AIF®, CMFC
2121 Avenue of the Stars
Suite 1600
Los Angeles, CA 90067

Anthony Masterson
Anthony Masterson
12100 Wilsure Blvd.
8th Floor
Los Angeles, CA 90025

Robert Chapman
Robert Chapman
2131 Palomar Airport Rd.
Suite 204
Carlsbad, CA 92011

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