Retirement planning is core to every individuals long term planning needs. At Nexus, we provide focused retirement planning services tailored to your unique financial situation.
It’s never too early to start your retirement planning. Starting early includes setting aside cash along with financial planning. For example, if you put $500 per month into a Section 401(k) plan beginning at age 25, you will have $1,000,724 by the time you reach age 65, assuming a growth rate of 6%. If you wait to start your deferral of $500 per month at age 55, the amount at age 65 will be $82,350. For the 55 year-old to have the same amount as the 25 year-old at age 65, the monthly contribution must be $6,075.
Nor it is ever too late to start or restructure you retirement plans. Consult with our advisors today to discuss your options.
At Nexus we can help you identify retirement plans and vehicles to best achieve your individual goals and objectives. Nexus however does not provide investment advice or financial planning services.