David Giertz: Financial Tips for Early Retirement

May 3rd, 2018 by admin

David Giertz, a financial adviser in Florida, has over 30 years’ experience in the financial services industry. Giertz earned an MBA from the University of Miami and a BS from Millikin University. He has worked with multiple companies, including Nationwide Financial and Citigroup. As a certified business coach, he has successfully certified more than 400 business leaders and coaches, according to his website at http://officialdavidgiertz.com/. Also active in his community, Giertz served on the Board of Directors for the Girl Scouts of Broward County.

David Giertz recently shared three tips for retiring early. With recent changes, employees can now increase contributions to their 401(k), now allowing for up to $18,500 of annual contributions. For those who are nearing retirement, annual contributions, according to Giertz, can be increased up to $6000 more. He suggests that increasing contributions to these accounts is one of the top ways to increase nest eggs and retire comfortably. Secondly, changes in IRA deduction requirements may mean that some individuals are no longer eligible for tax deductions based on their IRA contributions, depending on income level. Health Savings Accounts (HSA) are another area that can be managed for early retirement.

He explains that, although many employees do not consider these type of accounts for retirement this should change, as contributions to these accounts are tax deductible, with any expenditures from these accounts used for medical expenses is tax free. When an employee reaches 65, these funds can be used for anything without tax penalty. For Health Savings Accounts, contributions for a single individual can be up to $3,450 per year while family coverage HSAs can have contributions up to $6,900. David Giertz suggests that, with individualized savings plans, most individuals can be prepared for retirement with the help of the three tips identified in the article.

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