Dependable Retirement Planning Advisors

New Orleans Retirement Planning

New Orleans retirement planning involves paying off your debt and investing. However, you might be wondering whether you should pay off your debt or invest money to start saving for your Louisiana retirement savings plan. Don't worry: you're not alone. For decades, investors have wondered whether it's better to pay off debt or invest. Answering that question may be part of your New Orleans retirement planning.

Believe it or not, wealth building can be an enjoyable process. If you approach your New Orleans retirement planning with an open mind, you can save up plenty of money, and you might even find it easier than you expected. Following some simple guidelines in regards to build your New Orleans retirement portfolio will make saving money much simpler and more rewarding.

Debt Versus Investment

Most people have some form of debt in their life. It might be a car loan, a credit card, a student loan or a mortgage. Whatever it is, you probably want to pay it off as soon as you can, and you probably consider paying off debt as part of your New Orleans retirement planning. In a sense, you're right: paying off debt before your New Orleans, LA retirement is essential.

However, you might actually want to invest some money before paying off all of your debt. Why? Well, it depends on two variables: the rate of after-tax interest you're paying on your debt, and the rate of after-tax return you expect on an investment. Comparing these two variables will help you answer this question.

First off, you should understand that there are two different kinds of debt. The first kind is high-interest debt, which includes credit cards and department store charge accounts. If possible, you should absolutely avoid this kind of debt. The other kind of debt is lower-interest, which includes mortgage and student loans (and your interest might be tax-deductible).

So, here's how you decide whether to invest or pay off debt: if you can earn more interest on your investments than you pay on your debt, you should invest. If not, you should pay off the balance. You might be eager to invest and kickstart your New Orleans retirement planning, but you should consider your bottom line.

When you're planning your retirement, your goal is to have no debt and plenty of lucrative investments. If you work hard and manage your money carefully, you can certainly achieve this goal. It may take months or even years to pay off debt, but it's certainly an achievable goal.

Retirement Savings Made Easy

When you start your New Orleans retirement planning, you might dread the idea of saving money. If might feel like you have to give up all of your simple pleasures, such as going out to dinner in downtown New Orleans, Louisiana. However, saving money isn't equivalent to being miserable. It's about long-term happiness.

Instead, you need to keep your perspective while planning your budget. You are aiming to provide safety and enjoyment for your family, and secure your New Orleans retirement planning. Have you ever wondered why New Orleans investors get so scared when the stock market goes slightly up or down? Perhaps it's because they view investment portfolios is the key to financial security.

Your savings and investments are ultimately a means to an end. Consider your golden years in New Orleans, Louisiana. When you're planning those years, don't you imagine a time of peace, and financial freedom? Keep that in mind when you're considering shopping for shoes or a new television in downtown New Orleans, LA.

To get on the right track with your New Orleans retirement planning, you need to get off the consumption treadmill. If you're in the habit of borrowing tomorrow's money to pay for today's stuff, you're on a bad track. So, simply stop buying stuff. That may sound hard, but once you stop you find it's actually easier than you think, and it's a key step in terms of planning your way to financial freedom.

A great way to make planning your savings easier, is to set up a automatic withdrawal from your savings or checking account, or perhaps a direct deposit into your 401(k). If you automatically put money into your savings account, you'll have a much easier time letting go that extra cash. In fact, you might find that you don't even miss it.

When you're planning your Louisiana retirement, educate yourself on investing. There are a lot of great resources that can help guide your New Orleans retirement planning. You might also consider consulting a financial professional for help. Understanding how investments, economics, accounting, business and management work can really help you put money in the bank. Don't be afraid to reach out for some good resources on these subjects, as financial knowledge can be very rewarding.

What do you need help with?
Which advisory services are you looking for?
Retirement Planning Portfolio Management
Estate Planning Education Planning
401K Rollover  
What is the approximate value of your portfolio?
First Name Last Name
Email Zip Code
Primary phone
Details or comments  (highly suggested)

Find an Advisor

Please wait...

Retirement Planners In New Orleans

David Compton
David Compton
3501 N Causeway Blvd Ste 101
Metairie, LA 70002

Michael Gavin
Michael Gavin
3900 N. Causeway Blvd. Suite 100
Metairie, LA 70002

Michael Gavin
Michael Gavin
2180 N Causeway Blvd. Ste 9
Mandeville, LA 70471

© 2019   Retirement Planning   All Rights Reserved. All other trademarks and copyrights are the property of their respective holders.
This website provides information related to the subjects covered. Before making any financial or legal decisions, a professional should be consulted.