Financial Planning in Your 40’s w/ Mike Bernier, CFP®

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Big Al sits down with Senior Financial Planner and CFP® Mike Bernier to discuss what 40-year olds should consider when saving for retirement. During the interview, Mike and Al discuss the importance of setting goals and sticking to them, paying yourself first and choosing appropriate investments.

1:03 “I think the first thing [40-year olds should do] is setting a goal, establishing a saving goal, whatever it might be; maybe it’s 15% of my income, 20% of my income, depending on when you start maybe you start at a certain point and then every month or every quarter or every year you plan on increasing it at a certain increment”

1:46 “Go higher than you think you’ll actually do…I think if you set it high and it’s automatic, especially if you’re saving in your 401(k), it’ll be out of sight out of mind; you’ll end up saving a lot more than you think you actually can”

2:57 “I would say there are three key things: make sure to pay yourself first…make sure to choose the appropriate investments…make sure to monitor the progress and see where you’re at”

Season 2 Episode 18

Aired 5/2/15

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