Before meeting with my financial adviser, I just couldn't wrap my head around retirement savings
plan to fall back on. Creating my retirement plan was up to me and, at that point, all I had managed to do was invest a small amount of money in stocks that weren't growing.
To this day, her advice has totally changed the way I look at my finances and, hopefully, it will change how you look at yours, too.In the middle of setting up my new retirement accounts, my financial adviser suddenly got more serious. "Listen to me," she said. "The one thing you don't want to do is treat your retirement accounts like an emergency fund. Once you put the money in there, pretend it doesn't exist until you're ready to stop working.
Unfortunately, though, the amount of money he was contributing to his accounts each year wasn't enough to cover the semi-regular withdrawals and, when it was almost time for retirement, he found that his account balances were much lower than he had expected.According to my financial adviser, it would have been better if he had found another method for covering those expenses — or even gone without — instead of turning to his retirement accounts.
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