Dependable Retirement Planning Advisors

Trenton Retirement Planning

Trenton retirement planning is an important process when you start thinking about your financial future. Ensuring that you will be able to support yourself and your family when you want to stop working is an important goal. Being knowledgeable about retirement planning concepts is crucial to understanding how NJ residents go from just starting to save to living a comfortable life once retired. You may hear the media or your neighbors in Trenton talk about asset allocations, diversification, dollar cost averaging, and other concepts, but what do they really mean to you?

Finding a Good Mix

When you set up your New Jersey 401(k) at your Trenton employer you usually set up a percentage of money to be deducted from your paycheck that you invest into that account. Sometimes your employer may even match your contributions up to a certain percentage which is the equivalent of a raise in pay. Once the amount you're investing each pay period is determined you then select a mix of securities within an asset allocation, for example 80% in equities and 20% in bonds.

Speaking to a Trenton retirement planning specialist to determine which asset allocation is consistent with your goals and the amount of risk you feel comfortable taking can bring clarity to this process. There is a great diversity of financial products to fit the level of risk anyone in Trenton is willing to take. Figuring out where you fit on the risk spectrum is instrumental to planning your financial future.

During your Trenton retirement planning process it can be overwhelming at first to make investment decisions given the vast array of choices available. ETFs, mutual funds, bonds, 401(k)s, and other options can be very confusing. One concept that most, if not all, retirement planning specialists in New Jersey and nationwide can agree on is to not put all of your eggs in one basket for the long run. Diversifying the types of investments you put your money into is imperative to safeguarding your nest egg while you're Trenton retirement planning.

You want to make certain you are putting some of your money in each asset class when Trenton retirement planning. This way you can mitigate your losses if one asset class performs poorly. Major investment asset classes include cash or cash equivalents, equities, and fixed income products. An example of cash or cash equivalent assets would be investments that are either held as cash or can very easily and quickly be converted to cash, such as savings accounts or money market accounts. Equities include stocks and mutual funds, and fixed income includes bonds.

Keeping your Investments Diversified

The value of many investments change from day to day but utilizing a simple strategy can help NJ residents use that to our advantage. Trying to time the stock market and purchase your securities when the price is lowest is nearly impossible to do consistently. But planning effectively using the principal of dollar cost averaging gives you the capability to purchase more shares of a security at lower prices. This is a very easy long-term strategy that will help you even out the prices you pay for investments when you're Trenton retirement planning. All you have to do is invest a fixed amount of money from your paycheck into your asset allocation over time.

NJ residents should also be mindful to re-balance their portfolio of investments annually. Over the course of the year some securities will perform better than others. This would mean that the asset allocation used in the above example could shift from 80% in equities to 86% equities, and this position may not be consistent with your goals. Your Trenton retirement planning specialist will help you adjust your portfolio to make sure you maintain the same asset allocation you started the year with. Re-balancing is the key to maintaining the proper level of diversification while planning for your retirement in Trenton.

Start the process of saving early for your retirement so you have the option to choose where you want to live when you stop working. Healthy saving habits will allow you to either remain near your family in Trenton or retire to your dream house in Florida or Hawaii. Become knowledgeable about this process and you will notice that Trenton retirement planning is not as difficult as you once thought.

By following proven retirement planning concepts you can greatly improve your chances of meeting your longer term goals. Seek out a Trenton professional to help lead you on your path to retirement. Everyone in New Jersey can retire if they dedicate themselves to being savers and making smart money decisions. Trenton retirement planning is a lifelong process that allows one to enjoy the later years of their life and not have to worry about money.

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Retirement Planners In Trenton

Stephen Ng, ChFC®, CEP, CLU®
Stephen Ng, ChFC®, CEP, CLU®
100 Horizon Center Boulevard, Suite 105
Hamilton, NJ 08691

Paul C. Koenig Jr.
Paul C. Koenig Jr.
1300 Route 73 Suite 314
Mount Laurel, NJ 08054

Michael Scavullo
Michael Scavullo
5266 Bailey Ct.
Doylestown, PA 18901

Peter Gellman
Peter Gellman
320 Raritan Avenue, Suite 302
Highland Park, NJ 08904

Daniel Chen
Daniel Chen
12 Christopher Way
Suite #200
Eatontown, NJ 07724

David Marks
David Marks
328 Newman Springs Road
Red Bank, NJ 07701

Kevin Shea
Kevin Shea
51 JFK Parkway
Short Hills, NJ 07078

Stephen Sassi
Stephen Sassi
406 Forest Ave.
Staten Island, NY 10301

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