Mindy has more than a decade of experience managing assets as well as providing market insights and financial guidance to clients. She's a Certified Investment Management Analyst® (CIMA®) professional.
Maximize Your 401(k): Capture Employer Match and Use Auto-Escalation
Mindy advises, “Ensure you're contributing enough to capture the full employer match and activate auto-escalation if available.” This strategy boosts savings and helps them grow with your income. Avoid neglecting old 401(k)s or cashing out without understanding consequences. Start small, increase contributions annually, and consider target-date funds for a diversified start.
Retirement Expenses: The Underestimated Reality
Mindy highlights that retirees often underestimate expenses due to overlooked lifestyle changes and unexpected costs like healthcare. She advises creating a comprehensive budget, utilizing tax-advantaged accounts, and maintaining an emergency fund. Strategies like auto-escalating 401(k) contributions and digital planning tools are essential for long-term financial security.
Phased Retirement: A Flexible Path to Financial Stability and Purpose
Mindy highlights phased retirement as a strategy offering financial stability and emotional ease. It allows continued income, benefits access, and extended savings growth. Employers retain talent, while retirees redefine routines and explore new activities. However, retirees must consider potential impacts on retirement contributions and Social Security credits.