Wealth manager Jakob Loescher details two approaches he uses to help young clients save for retirement, one aggressive and one more cautious.
, you're aware of the challenges you might face. They might include high debt, increasingly expensive housing, and a more questionable social safety net.
Loescher, 33, handles $325 million for clients of Savant Capital Management, a $6.3 billion firm based in Rockford, Illinois. He's both a financial planner and a retirement planning counselor, and Forbes recently named him as one of the best young wealth managers in the US.Loescher's advice if you're a long way from retirement is fairly simple. First, you should save up at least three to six months worth of expenses in case of emergencies.
He says bonds should their"anchor" portfolios, and depending on their needs, advises them to invest 60% to 70% of their money in fixed income with the rest in stocks.
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