NYWIFT Blog

By Kathryn O’Kane

When it comes to financial planning, are you overwhelmed with all the information and advice out there? Not sure where to start? In November, Certified Financial Planners Gail Linn and William Fischer at Fortis Lux Financial (an office of MassMutual) presented a free seminar – available exclusively to NYWIFT members – covering the key concepts you need to consider to achieve your financial goals.

Here are Gail and William’s five introductory tips to secure your economic future.

1. Prepare for the unexpected. Put 6 months of living expenses in a savings account.
2. Be aware there are many ways to fund your retirement: 401K, 403b, traditional IRA, SEP IRA, and Roth IRA.
3. Understand that no amount is too small. Contributing as little as $25 to your retirement fund from each pay check adds up over time.
4. Diversify. From stocks and bonds to size and growth, each allocation is going to react differently to what is going on in the market, meaning you can better weather market fluctuations.
5. Consider tax diversification of your retirement investments. Traditional retirement accounts, combined with Roth IRAs and cash value life insurance can add necessary flexibility to your portfolio.

A free financial planning consultation with Gail and William is offered as a member benefit to all NYWIFT members, whether you have just started out in your career or have been working for years and are approaching retirement.

Contact information:

Gail Linn, CFP® & William Fischer, CFP®

Fortis Lux Financial, an office of Mass Mutual

277 Park Avenue, 41^st & 44^th Floor

New York, NY 10172

212-578-0300

Not a NYWIFT member yet? Join online.

Disclaimer: This information is provided for discussion purposes only, and should not be misconstrued as investment advice.

Kathryn O’Kane is a director and producer of television and commercials, as well as a NYWIFT board member. www.busyk.com