AboutDavid M Iannopollo Expertise I am a professional financial advisor who can assist you with answers on mutual funds, annuities, IRA's, rollovers, qualified and non-qualified retirement plans, retirement planning, educational planning, life, disability and LTC insurances.
Experience I have over 20 years experience in the business and financial world.
Question I am 30 years old and am starting over financially. I have no savings or retirement fund. I want to start both of these accounts/funds back up again. I have opened up a savings account again however am unsure the best route to take and the most beneficial in starting a retirement fund. I do not have an employee 401K fund. What is my best course of action? I am on a lower income scale.
Answer Hi Jen,
Before doing any long term retirement savings or investing, you should make sure that you have a readily accessible sum of money in case of an emergency or unforeseen event. If you start a retirement account before doing that, an emergency where you need access to those funds would derail those plans anyway. Raiding a retirement account early is a killer. So having a liquid source of cash is your best bet now. You still have plenty of time to save for retirement. I hope this helps. Good luck!
