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Christopher R. Hibbard, ChFC®, CRPC®, CFS®
Vice President, Wealth Management
Teachers Investment Services
Located at Teachers Federal Credit Union
5439 Sunrise Highway
Holbrook, NY 11741
Phone: 631-698-7000 Ext. 6020
Email: christopher.hibbard@lpl.com
CRPC conferred by College for Financial Planning.
September/October 2023
Let a Sound Financial Strategy Guide Your Decisions
Your ultimate destination may be retirement, but having a well-thought-out strategy can help you make informed financial decisions throughout your lifetime. A good strategy can help you understand where you currently stand and help you reach the goals you set for yourself.
Who Needs It?
In a word, everybody. The importance of knowing how your money is spent and where it’s invested cannot be overstated.Your first step in the process should be to define your goals. You are saving for retirement, sure, but you will have many other goals along the way that you are striving to reach. Paying off debt, accumulating the down payment on a home, and saving for college for your kids may all be important components of your financial strategy.
How Will You Get There?
Consider the steps you need to take to reach all your goals. Participating in your employer’s 401(k) or other qualified retirement plan and contributing through automatic payroll deduction can get you started with saving for retirement. Make sure you contribute enough to qualify for any employer matching funds.Having money from each paycheck directly deposited into a savings account can help you save money to pay off debt and fund a home purchase. And, by contributing to a 529 college savings plan, you will have a head start on paying college costs.
Build Your Portfolio
Once you have defined your goals, building an investment portfolio that will help you reach them is the next step. Think about the kind of investor you are based on how comfortable you are with risk. Then consult your financial professional and come up with an investment strategy you can live with based on your goals and risk tolerance.No Limits
A financial strategy should encompass all aspects of your financial life. In concert with your attorney and tax professional, your financial professional can help you manage risk, while working toward all your financial goals.Meet with your advisors annually to review your progress and make adjustments, if necessary.
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Christopher Hibbard is a financial advisor with, and 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. Teachers Federal Credit Union (TFCU) and Teachers Investment Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Teachers Investment Services, and may also be employees of TFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, TFCU or Teachers Investment Services. Securities and insurance offered through LPL or its affiliates are:
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