CANFIELD, Ohio – In this excerpt from The Business Journal Roundtable Series featuring wealth building, financial advisers discuss strategies for retirement planning.
Tim Petrey, CEO of HD Growth Partners, emphasized the importance of determining individual annual living costs before setting savings goals, cautioning against over-saving at the expense of quality of life.
Stephen VanSuch, managing director of investments/branch manager at Stifel Financial, agreed on the need for personalization but noted general benchmarks, such as saving 15% annually or 10 to 12 times one’s final salary, can help individuals begin the planning process.
Watch the full discussion HERE.
Read the full transcript HERE.