Afraid to Invest for Retirement

After the last ten years, it’s hard to know which end is up when it comes to planning for retirement. Many of us, confused, depressed and without a nest egg, find that we are afraid to invest for retirement.

Afraid to invest for retirement

And it gets worse. Many of us are also trying to plan and save for our children’s college and other major expenses we know are coming. Here’s an example:

Tom, 41, and Gianna, 37, have dreams of a solid financial future. But the couple, parents of a 6-year-old, are at the point where they’re not sure what to do next.

“How do I make my money earn more for me without taking excessive risk? We are frozen in indecision,” Tom says. “I fear that we are not contributing enough (for college savings).”

They’re also concerned about whether or not they have enough life insurance.

Kim Viscuso, a certified financial planner with Stonegate Wealth Management says,“Many Americans feel that they are frozen in indecision even if they are fortunate enough to have good jobs,” Viscuso said. “They may feel grateful to have a good job but they are not sure how much savings is enough. They want to know where to invest their savings so it can earn more without taking excessive risk.”

There is no easy solution. Investing, like anything else, requires a commitment of time and energy even to learn the basics. And if you want to feel confident enough to discuss your retirement needs with a financial professional, or even tackle the challenge of retirement planning yourself, the more you know, the better prepared you’ll be. One thing’s for sure, though. If you want to be prepared for retirement, you can’t be afraid to invest for retirement.

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