Interview Kathleen E. Owings
They say it’s never to early to start planning for retirement. If the millennial generation is wise, they can position themselves to be in a more secure financial place—affording them a more comfortable life in their senior years.
Talking Points From Kathleen Owings
on Millennials and Early Retirement:
- Look at your employment benefits and see how they can be leveraged for greater savings for retirement. Be sure to take advantage of any matches at work in retirement plans to help boost your savings. This can be done today by looking at your benefits book or by talking to your Human Resources Department.
- Start saving for retirement as soon as you start working. The earlier you start, the more time your money has to grow. I think of saving for retirement like a muscle that needs to be worked out. The more you do it, the better you will become, so start sooner rather than later.
- Make sure you have a good emergency savings account set aside, so when “life happens” you won’t need to go into your retirement savings to pay for those unexpected expenses. Have at least 3–6 months of salary in a savings account for those rainy days. Your future self will thank you!
- Have an overall plan for your retirement and this will help you see the value of investing over time. If you know where you are going then you can plan how much you need to save today to reach your goals. I love working with clients to help them discover their financial goals and build a plan that will get them there. I believe it is a myth that you cannot retire until 70 or 75. You need to be purposeful and focused to achieve your goals—which is not always easy, but possible.
I see many young people who are afraid to invest in the stock market due to past market corrections and recessions. Both of these occurrences are normal components of market cycles, and is probably not the best reason to stay out of the stock market altogether. The key to building a comfort level to invest in the market is to educate yourself about stocks and bonds and to gain a better understanding of how the markets work. My advice for those people who want to learn more about investing is go to your local library and read as much as you can about the topic. Also, work with a reputable financial professional who will not only help you invest, but also educate you along the way.
Kathleen E. Owings
Westbilt Financial Group
Available for Interviews: Kathleen E. Owings.
Kathleen E. Owings was named one of the 4 Under 40 in 2018, a prestigious award given by the National Association of Insurance and Financial Advisors to only four young advisors in the country. Kathleen manages assets for individuals, families, and businesses to the highest standards of fiduciary duty.
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