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On Target Financial
5301 SW 7th Street, Topeka, KS 66606
Phone: 785-272-5000
Fax: 785-272-6725
Joseph G. Prokop, CFP®, CRPC®
Website: www.ruontarget.com
March/April 2022
Avoid These Retirement Planning Mistakes
Help improve your financial future by avoiding these pitfalls.
Neglecting the Basics
Planning for your future should start with making sure your finances are in order in the present. Build an emergency fund to eventually cover six months’ worth of living expenses in case of an unexpected expense or a job loss. Once you’ve set up your fund, start paying off any credit card debt or personal loans.Waiting to Contribute
As soon as you’re eligible, start contributing the maximum amount you can afford, or at least the percentage of pay your employer will match, to your employer’s retirement plan.Saving for College Instead of Your Retirement
If you’re having a hard time saving for a child’s college education and your retirement, your retirement should take priority.Forgetting to Plan Ahead
Thinking about your financial objectives in two years or 40 years can help you choose investments for all your short-term, mid-term, and long-term goals.Selling in a Down Market
A down market is the wrong time to sell investments. Being out of the market when it begins to recover may result in significantly lower returns than if you had waited out the downturn.CONTACT US
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Investment advisory services offered through Cambridge Investment Research Advisors, Joseph Prokop, Investment Adviser Representative. Cambridge and On Target Financial are not affiliated.
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