It is never easy to decide when and where to invest your money, but working with an experienced Maryville certified public accountant is a great place to start.
With the help of an experienced Maryville certified public accountant, you can explore your options, finding what works best for you. Burkhalter & Burkhalter acts as not only a CPA, but also an experienced tax attorney. Our knowledge and expertise in both areas can help you plan for your future.
To start off, you will want to explore your investment options, finding the best one that works for you. If you are young, that may mean riskier stocks that may hold great growth potential should they perform well. Sometimes, considering buying stocks when a company offers an IPO or other stocks with great potential, but possibly steep losses may be appropriate, since time is on your side. When you are young, even if you suffer a great financial loss, you have plenty of time to recover from it.
As you age, you may want to move some of your riskier investments into safer options that offer a steadier reward and less risk. As you age, losing money may mean putting off retirement for awhile, so steadier small gains become more attractive.
Older investors may move more toward annuities, which take a fixed sum of money, paying it out over a specific time. An annuity can maximize this money and help ensure that it lasts as long as possible.
However, not everyone is the same and it really depends on your comfort level with certain risks. By working with a CPA and tax attorney, you can really explore the best options for your money. Whatever you are looking for, it helps to work with someone who has extensive knowledge of both the financial side as well as the legal implications.
We can help you find the right investment that achieves your goals and help you reach retirement. For a consultation to discuss your situation, contact Burkhalter & Burkhalter today.