Saving for retirement is not all that different than hitting the gym. And with the right help and motivation, you just may trim down your waist, while you bulk up your savings. Here are five steps to financial and physical fitness.
00:00:11.808 Like retirement, going to the gym can be intimidating.
00:00:16.400 Ron wants to get his retirement savings and himself in tip-top shape.
00:00:22.350 Here are five steps to help you retire in fine form.
00:00:29.030 Good circulation is to your health like positive cash flow is to your finances.
00:00:35.140 Get moving.
00:00:38.430 Get your heart pumping and get your cash flowing.
00:00:43.830 Make sure you have more money coming in than going out.
00:00:48.090 That's important for Ron because when he retires, his cash coming in
00:00:52.610 will likely slow down.
00:00:57.960 Feeling a little flabby, Ron?
00:01:01.480 Why not choose chickpeas over chips?
00:01:04.750 Eat those healthy foods and cut down on the junk.
00:01:07.910 When it comes to your finances, junk means extra spending and high interest debt.
00:01:13.350 So start paying all those loans and credit.
00:01:17.070 But everything in moderation-- even debt and candy.
00:01:24.170 Strong muscles keep your metabolism motor running.
00:01:27.630 But Ron's motor looks like it's running out of gas.
00:01:32.180 So build your muscles and bulk up your savings.
00:01:35.690 Set up regular automatic deposits to your investments
00:01:39.160 so you're not tempted to spend it.
00:01:44.470 Then, work with a professional you trust to help you invest wisely.
00:01:55.970 Ron doesn't know how to use the equipment, and he may not get the results he wants.
00:02:01.820 And if you don't understand how to use the right tax strategies,
00:02:05.440 that might eat into your savings.
00:02:07.920 Investments come with different tax treatments.
00:02:11.380 A trainer can show you how to work your legs.
00:02:17.370 And an advisor can help you plan to minimize your taxes.
00:02:23.090 Our bodies change, and markets change too.
00:02:26.630 An assessment with a trainer will tell Ron that he's doing a good job.
00:02:31.230 And an annual conversation with your advisor will help you see where you are
00:02:35.760 and help you adjust if needed.
00:02:37.870 Ron's ready for retirement.
00:02:40.030 Are you?
00:02:45.510 And a reminder.
00:02:46.660 Please talk to your advisor, lawyer, or accountant
00:02:49.730 to figure out what works best for you.