According to David Giertz, there are only three ways to effective planning for retirement money. To begin with, an individual should evaluate his financial wealth before making any attempt to save for retirement. This involves knowing what you save, what is consumed directly in food, rent, clothes, school fees among others and what is used to pay debts. If in a month an individual spends all his money without saving any fraction, then it defiantly reduces his retirement money by some percentage.
Most people save for retirement, but they end up getting very little money on retirement. This problem arises because they do not begin saving early enough. David Giertz refers to it as failing to take advantage of the compound interest. If one begins savings early, he lengthens the saving period, and consequently, the accumulated amount increases tremendously. Upon retirement, this accumulated amount no longer be taxed but will instead earn interest at given rate.
The last way through which we can plan for our retirement money is very simple but has always been ignored by many people probably because they are not aware of its existence. David Giertz said that having side gig or business is the surest and safest way of increasing retirement money. During free time or leisure time, we are encouraged to be involved in hobby businesses that act as a supplementary source of money hence making us increase the amount we on a daily basis. Some of the hobby businesses include; playing commercial football, drawing, online writing amount others.
David Giertz is one of the best financial planners in the world. He acquired a wealth of information through the academic learning as well as the from actual work experience. As a result, he has better ways of planning for the retirement money.He holds master’s degree in business administration from University of Miami and BS from Milliken University. He has served in the following institutions; president of National commercial sales and distributions organization was chair board of trustees at Millikan university among others.