3 tips for retiring early by David Giertz

David Giertz is an accomplished professional in the financial services industry. He has a working experience of 30 years and an Executive MBA and Bachelor of Science degree. With his education and experience, David can change institution’s processes, innovation, and strategy resulting in tremendous and profitable growth.

Recently, David served as the President of Nationwide Financial’s distribution and sales organization. He granted an impressive profitable revenue that exceeded the targets of P&L as he increased it from $11B to $17.8B. David is a leader and expert in business and strategy. Today, David continues to astonish institutions with the enormous profits that these they make thanks to his expertise.

As David continues to exceed the ordinary, he still offers financial coaching. In his advice about early retirement, David talked about steps that one can follow to be financially independent and retire early successfully without any regret. The following are three fundamental tips from David Giertz for early retirement.

  1. Have enough savings

One can’t be sure of the amount he will need after leaving his job. Consequently, David advises people to save as much as possible when working. If you are planning for the standard retirement, you should aim to have saved ten times your annual pay by the time you are sixty. If you considering to retire earlier, you will need to work harder and save more times your yearly pay.

  1. Go for a flexible retirement plan

Most retirement plans will penalize you if you withdraw your savings early. David Giertz advises any person wishing to retire early to choose a flexible program to avoid such penalties. Besides, David suggests that one can go with Roth IRA plan. Although this plan is limited to those earning below $118,000 annually, one can withdraw money without penalties. 72t rule and 401(k) are other retirement plans with few restrictions that you can consider.

  1. Invest

David notes that your savings are likely to increase if you invest your extra savings. You will find that an after-tax account is more flexible compared to a retirement account because you can withdraw at any time. Consequently, having such account will help you sell and buy currencies, stocks, and bonds. Also, a health savings accounts come in handy as it takes care of your future health care costs.