On Tuesday, August 25 Dallas SWE held part 2 of our Financial Wellness Series. Paloma Alvarado, partner at New York Life, presented trends and strategies to consider when planning for retirement. She stated that the typical number of “working years” to accumulate wealth has decreased in relation to expected life span, thus the need to generate more wealth in a shorter amount of time. She emphasized the importance of taxed vs pre-taxed retirement accounts and how it may affect retirement income. She stated that ‘time in the market is more important than timing the market” and encouraged attendees to start investing for retirement sooner rather than later. Mrs. Alvarado’s presentation focused on general recommendations ; there isn’t a one-fits all retirement strategy. Everyone’s retirement strategy differs depending on personal goals and career path. Remember to reach out to your HR representative and take advantage of any benefits your company may offer and to make sure that your retirement strategy is up to date with your goals.
