CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
Craig Lundquist, MBA, ChFC®, CRPC®
VP of Wealth Management
651-773-2757
Kristin Becker
Senior Administrative Assistant
651-773-2821
Ideal Wealth Advisors
Located at Ideal Credit Union
8499 Tamarack Road
Woodbury, MN 55125
CRPC conferred by College for Financial Planning
March/April 2022
Avoid These Retirement Planning Mistakes
Make a mistake with your monthly budget and you might have to tighten your belt for a few weeks. Make a mistake with retirement planning and you could have to modify— or even delay — the retirement you’ve dreamed about. Help improve your financial future by avoiding these pitfalls.
Neglecting the Basics
Planning for your future should start with making sure your finances are in order in the present. Build an emergency fund to eventually cover six to twelve months’ worth of living expenses in case of an unexpected expense or a job loss. Once you’ve set up your fund, start paying off any credit card debt or personal loans. High interest rates can decimate your retirement savings, so make sure you’re debt free before you stop working.Waiting to Contribute
Time is your ally when it comes to saving for retirement. As soon as you’re eligible, start contributing to your employer’s retirement plan. Contribute the maximum amount you can afford, or at least the percentage of pay your employer will match.Saving for College Instead of Retirement
Ideally, you should put money aside for both your child’s college education and your retirement. But if you’re having a hard time saving for both goals, your retirement should take priority. Remember, your child can borrow money for college, but you can’t get a loan for retirement.Forgetting to Plan Ahead
You probably have many goals. You may need money for some of them in a year or two, such as a new car or a special trip, while others, like retirement, may be farther in the future. Thinking about your financial objectives in two years or ten years or 40 years can help you choose investments for all your short-term, mid-term, and long-term goals.Selling in a Down Market
Some investors panic when the market takes a nosedive. But a down market is the wrong time to sell investments. Being out of the market when it begins to recover may result in significantly lower returns than if you had waited out the downturn. Your financial professional can help align your portfolio to fit your risk tolerance.1-05224357
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
The sender and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.