Millions of dollars have been accumulated in retirement and social security funds due to the fear many holds against retirement. Unfortunately, the majority of those individuals with financial retirement plans do not spend their fortune. It is difficult for individuals accustomed to modest lifestyles to spend on a few luxuries.
David Giertz believes that many of those who retire with good savings are not entirely made up of the rich but preferably they have created a habit of frugality and conservation. This pattern eventually haunts them during the retirement period. This pragmatic habit proves hard to stop even though the individuals have met their saving goals.
David Giertz has come a long way in his financial journey. He is the President of Nationwide Financial Sales and distribution. He suggests that retirees should ease up a bit when spending during their retirement period. The businessman believes it is good to spend on the things that make one happy during the retirement period. He advises that a portion of an individual’s money should be used to enjoy the few pleasures of life.
The preparation for retirement, several issues must be addressed. Eliminating debt should be on top of everyone’s agenda. If an individual is servicing a loan, mortgage or even has liability on his or her credit card; retirements funds can be used to offset some of the credit. Such a strategy will reduce accumulative interest and penalties on the credit section.
Upon retirement one is required to invest in a long-term insurance cover. An individual’s long-term monetary needs are estimated to range between $500,000 and $750,000 according to financial expertise.
The financial services industry has benefited from David Giertz’s experience and expertise. The aggressive businessman has used his position as president of National Financial to create distribution and management strategies for the firm. His drive and hunger to succeed has made the man a mentor for many in the financial sector.