10 Years down, 10+ years left. How to set yourself up for retirement success financially?

2015-05-05T03:43:47-04:00

You always hear it,,,, if only I knew what I know now, back then. Things would be better because X

Well what would you do different? There are people who live off an enlisted pension. I don’t know their circumstances, however it sounds possible with some smart decisions say when you have 10-15 years left.

Any advice is appreciated.

Response by LTC John Shaw made May 5 at 2015 11:11 AM

2015-05-05T11:11:30-04:00

Save 15% of your income strictly for retirement and assume you are investing for 20+ years. Invest this money using TSP/401K and IRA (Roth or Traditional) no load mutual funds or EFT keeping your portfolio diversified across passive index and active management.

If you have no idea on how to invest I recommend you call USAA and ask for their free financial assessment. It will cost you nothing and you will gain in return a very meaningful overview of USAA investments and other possible investments.
Other very good companies are Vanguard, Fidelity or a select few financial advisory firms, if they have the heart of a teacher.

Only work with people who have fiduciary responsibilities to you, meaning they must seek your best interest.

Educate yourself using the USAA website and USAA foundation materials, Vanguard, CharlesSchwab.com, DaveRamsey.com, Fee only financial planners, with a CPA or CFP designation.

I avoid full-service brokers and any commission insurance agent. NEVER purchase a variable annuity and avoid whole and universal life products. Bottom line avoid organizations and people that have conflicted interests to make a living they must push products that have a load or commission that can be obtained without these fees.

If you need more help, I am happy to provide how I break up my portfolio and investments. I am very comfortable doing this myself, but I have managed my own for 30 years and have degrees in Finance, MBA and JD.