David Giertz has been helping people save for retirement and other financial goals for over thirty years. His first job in the financial services industry was in 1989 when he joined Financial Horizons Security Corporation as a financial advisor. Four years later he joined Citigroup in this same role and within a short period of time he was promoted to management and then an executive-level role. He left in 1993 and joined Nationwide Investment Services Corporation where he worked for about 23 years as an executive.
As a successful investment advisor, David Giertz is often asked to be interviewed about various subjects about saving for and living in retirement. One of the things he stresses is that the younger you get started saving for retirement the better off you’ll be. The best time to get started is yesterday, he says. People who start saving when getting their first job can have built up a small fortune to tap into for retirement. He says another key thing is to live well below your means. Don’t spend money on extravagances and instead maintain a reasonable lifestyle. You want to enjoy life, of course, but this doesn’t have to mean spending freely while saving little to nothing.
On the other hand, he says many people who have saved successfully have a hard time spending what they have put away. Rather then doing the things they always dreamt of in retirement, such as taking a trip around the world, they instead spend their days at home so as to not spend money. David Giertz says that as long as you are disciplined in your spending you ought to enjoy your retirement years doing the things that make you happy.
Setting a budget in retirement is key, he says. It also gives the retiree peace of mind knowing that by following a proper budget they are much less likely to ever run out of money. It’s all about spending prudently and what you can afford. He also says retirees should have some money in a cash reserve so that if and when stock markets go into a bear market they will be able to use the cash until the markets recover.