Saving for retirement doesn’t happen overnight, and it could be helpful to get some advice from the experts along the way.
Tom Jacobs, the founder and owner of Jacobs Financial Services, and Terri DeBoer, the communications director for Jacobs Financial Services, appeared on Live In The D to share financial advice for retirement.
“Money in the market is gambling, and we believe that as we get older we need to take less risk, Jacobs said. “We need to have a plan,” he added.
“When it comes to our retirement assets, the most important thing we can do is position them in a place where we take losing money completely off the table, but during times of growth and during inflationary times, we still have the opportunity to see growth within those accounts,” DeBoer said.
Jacobs and DeBoer also talked about taking into consideration whether you get an account that has fees or an account without fees. Jacobs explained that fees can compound, and he said it can be “devastating” to your retirement account.
Watch the video above or click here for more financial advice for retirement.