Financial Matters: Retirement planning

PORTSMOUTH, Va. (WAVY) - It takes a lot of training and conditioning for a football team to make it to the big game. Planning for your retirement is a similar challenge. Stephanie Bard, Registered Associate from BayPort Financial was here to help us get that training started.

Planning for retirement is a lot like how a football team trains to play in the Super Bowl.

• The team works with its coaches to learn the best strategies that help it reach its ultimate goal which, of course, is a touchdown.
• With a lot of hard work and dedication, teams like the 49ers and the Ravens reach their ultimate goal of playing in the Super Bowl.
• Much like planning for retirement, it is important to work with a financial advisor who teaches and guides an individual to make the right decisions to reach their retirement goals.
• Instead of guarding the end zone against another team the individual is guarding against time. Generally speaking an individual only has about 40 working years to save enough money to live on after retirement which can last just as long.
• The advisor plays the role of defensive coach by showing the individual how to defend against time by putting a savings plan in place.
• The advisor also plays the role of the offensive coach by showing the individual the tools to help them reach their retirement end zone when the time has come. 

For more information, stop by any of the 15 BayPort Credit Union locations across Hampton Roads.