Dependable Retirement Planning Advisors

Monterey Park retirement planning

If you think that simply making regular contributions to a Monterey Park retirement planning account is all that you need to do in order to be ready to retire on time, you are wrong. Certainly you cannot retire without a California retirement planning account, but there are other plans you should be making as well. The better prepared you are financially for your retirement, the better off you will be. Planning ahead is a crucial step in the process.

Pay Off Your Mortgage

The most important thing you can do to ensure that the planning you are doing for your future security is successful would be to eliminate your number one source of debt, the mortgage. When analysts give an amount to people as their Monterey Park retirement planning goal, they typically base that amount on the assumption that said person will not have the extra expense of paying for Monterey Park housing when they retire. This is because typically, it is understood that someone would have had their CA home paid in full prior to their Monterey Park retirement.

However, there seems to have been a trend developing in the past generation or two wherein people handle Monterey Park home ownership differently than they used to. There once was a time when people bought one, maybe two California homes and stayed in it for their whole lives. This would mean that if someone bought their Monterey Park home at age 30 and secured a 30 year mortgage loan to purchase it, the home would be paid off by the time the person was 60 years old. This would play in perfectly to anyone's Monterey Park retirement planning, because your sixties is typically when one begins thinking about and planning for CA retirement. Without that California mortgage payment hanging over the persons head, the money in his or her Monterey Park retirement planning account would go a lot father.

This is still the case today, and it still effects your CA retirement planning. . Think about your current monthly Monterey Park bills. Most likely the largest one is your mortgage. If it is not the largest, than it is certainly one of them. Can you imagine how much less money you would need to make if you did not have this monkey on your back? The same will hold true when you retire.

So, how does one pay off a Monterey Park mortgage earlier than 30 years? There are a few answers to this. The simplest is to pay more than the minimum due. The more money you throw at the mortgage, the quicker you will pay it down. Additionally, there are programs out there wherein you have a payoff period of less than 30 years (such as 15 or 20). These programs involve a higher payment, but ultimately you end up paying less in interest so you win. Look into one or both of these options soon to really give your Monterey Park retirement planning a boost.

Not Just Mortgage

Unfortunately when it comes to Monterey Park retirement planning, the monthly expense of a mortgage is not the only thing that has to go. Another item that is important to think about when planning for your retirement is your amount of current debt. Pretty much all of us have one form of debt or another aside from a mortgage. Whether it be student loans, an automobile loan, or a credit card, just about everyone can relate to the stress of owing money for something to someone else. There is nothing fundamentally wrong with this concept. However, if you retire and still have these sorts of debts, a large portion of the monthly stipend from your Monterey Park retirement planning account is going to go toward paying them until they are paid in full.

This is definitely not something you are going to want to deal with when you retire. You will want the full allotment of your Monterey Park retirement planning account payouts to go directly to you enjoying your golden years. Trying to eliminate debt is something you need to focus on now, so you won't have to then.

So, develop a strategy in order to help you get yourself out of debt. The best way to do this is to pick one debt at a time and focus all of your energy and extra funds toward eliminating that debt. Once that one is eliminated, move on to the next. Keep following this practice until you find that you have no more debt to eliminate. Be sure not to accrue anymore debt during this time or you will set yourself back a little. However, once you have eliminated your debt, those funds are free to make extra contributions to your Monterey Park retirement planning account.

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Retirement Planners In Monterey Park

Alan Gelb, CFP
Alan Gelb, CFP
330 N. Brand Blvd.
Suite 1150
Glendale, CA 91203

Josh Fatoullah
Josh Fatoullah
2121 Avenue of the Stars
Suite 2350
Los Angeles, CA 90067

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

Eric Pritz, CFP
Eric Pritz, CFP
2121 Avenue of the Stars
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

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

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

Mark Higginbotham
Mark Higginbotham
21515 Hawthorne Blvd
Suite 200
Torrance, CA 90503

Heather Castle CFP, ChFC, AIF
Heather Castle CFP, ChFC, AIF
1168 S. Barrington Avenue Suite 502
Los Angeles, CA 90049

Mark Higginbotham
Mark Higginbotham
2400 E Katella Ave
Suite 800
Anaheim, CA 92806

Eric Trapasso
Eric Trapasso
7821 24 Th St
Westminster, CA 92683

Rick Donnelly
Rick Donnelly
17901 Von Karman Ave
Suite 600
Irvine, CA 92614

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

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