Tom Meaglia photo

Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

March/April 2022

Avoid These Retirement Planning Mistakes

Frustrated senior couple sitting at home and  checking  their home finances

Make a mistake with your monthly budget and you might have to tighten your belt for a few weeks. Make a mistake with retirement planning and you could have to modify— or even delay — the retirement you’ve dreamed about. Help improve your financial future by avoiding these pitfalls.


Neglecting the Basics
Planning for your future should start with making sure your finances are in order in the present. Build an emergency fund to eventually cover six to twelve months’ worth of living expenses in case of an unexpected expense or a job loss. Once you’ve set up your fund, start paying off any credit card debt or personal loans. High interest rates can decimate your retirement savings, so make sure you’re debt free before you stop working.


Waiting to Contribute
Time is your ally when it comes to saving for retirement. As soon as you’re eligible, start contributing to your employer’s retirement plan. Contribute the maximum amount you can afford, or at least the percentage of pay your employer will match.


Saving for College Instead of Retirement
Ideally, you should put money aside for both your child’s college education and your retirement. But if you’re having a hard time saving for both goals, your retirement should take priority. Remember, your child can borrow money for college, but you can’t get a loan for retirement.


Forgetting to Plan Ahead
You probably have many goals. You may need money for some of them in a year or two, such as a new car or a special trip, while others, like retirement, may be farther in the future. Thinking about your financial objectives in two years or ten years or 40 years can help you choose investments for all your short-term, mid-term, and long-term goals.


Selling in a Down Market
Some investors panic when the market takes a nosedive. But a down market is the wrong time to sell investments. Being out of the market when it begins to recover may result in significantly lower returns than if you had waited out the downturn. Your financial professional can help align your portfolio to fit your risk tolerance.


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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