top of page
  • Writer's pictureDavid Peters

David Peters offers his top retirement tips on Fox5

Updated: Jun 27

Early planning allows your money more time to grow.

Start Early to Maximize Growth

When it comes to retirement planning, the sooner you start, the better off you'll be. Early planning allows your money more time to grow, leveraging the power of compound interest. For many, getting started is the toughest hurdle. It’s essential to prioritize retirement savings as a non-negotiable expense, much like paying rent or utilities. Allocating a portion of your paycheck to retirement savings should be a top priority.

Take Advantage of Workplace Benefits

Your employer likely offers several retirement savings options that can significantly boost your retirement fund:

  1. 401(k) Plans: Contributing to a 401(k) plan is a great way to save for retirement, especially if your employer offers a matching contribution. In 2024, individuals aged 50 and over can make catch-up contributions, adding an extra $7,500 to their 401(k) beyond the standard limit. This is a powerful tool for those who are approaching retirement and need to boost their savings.

  2. IRA Contributions: In addition to your 401(k), you can also contribute to an Individual Retirement Account (IRA) as long as you have earned income. While you might not be able to take a tax deduction for your contributions if you’re above certain income levels, contributing to an IRA still helps grow your retirement savings.

Understanding Roth IRAs

A Roth IRA offers significant tax advantages. If you are under the income threshold for the year, contributing to a Roth IRA allows your money to grow tax-free. Additionally, when you withdraw funds during retirement, the distributions are tax-free. This can be a substantial benefit, as it ensures that you won’t pay taxes on the growth of your investments.

Changes from the Secure 2.0 Act

The Secure 2.0 Act, passed at the end of 2022, introduced a notable change for those with student loans. Employers can now match 401(k) contributions based on qualified student loan payments. For example, if you pay $5,000 towards your student loans, your employer could match as if you had contributed that amount to your 401(k). This provision helps recent graduates, who are often burdened with significant debt, to start saving for retirement early.

Getting Started with Investing

Investing can seem daunting, but it’s crucial for building a robust retirement fund. Here are some tips to help you get started:

  1. Invest Aggressively When Young: Generally, younger investors can afford to take on more risk. Investing in stock funds and equities, which typically offer higher returns but with higher volatility, can be beneficial. The longer time horizon allows you to ride out market fluctuations.

  2. Adjust as You Age: As you approach retirement, it’s wise to gradually shift your investments toward bonds and other less volatile assets. This strategy helps preserve your capital while still allowing for growth.

  3. Know Your Risk Tolerance: It’s important to invest in a way that lets you sleep at night. If the volatility of stocks makes you uneasy, consider a more conservative investment approach. A financial advisor can help you determine your risk tolerance and create a portfolio that matches your comfort level.


Starting early and making informed decisions are key to securing a comfortable retirement. Take advantage of employer benefits, explore different retirement accounts, and tailor your investment strategy to your stage of life and risk tolerance. Consulting with a financial advisor can provide personalized guidance and help you stay on track to meet your retirement goals. Remember, every little bit you save today will make a significant difference in your future.

If you have any questions or need personalized financial advice, our team would love to talk. Request an appointment and we'll be in touch.

Required Disclosure:

The material presented by David Peters in this interview is for informational purposes only, is general in nature, and is not intended to and should not be relied upon or construed as a financial plan or financial/investment advice regarding any specific issue or factual circumstance.

Financial and investment advisory services offered through Peters Financial LLC. Brokerage and custodial services offered through Charles Schwab Co. Inc., member FINRA and SIPC. Peters Financial LLC and Charles Schwab Co. Inc. are not affiliated. David Peters also offers tax services through Peters Tax Preparation & Consulting, PC. Peters Tax Preparation & Consulting, PC is not affiliated with Peters Financial LLC and clients or prospective clients are never obligated to use Peters Tax Preparation & Consulting, PC. as part of any financial planning or investment management services offered by Peters Financial LLC.


About the Author:

David Peters, CPA, CFP, ChFC, CLU, CPCU, CGMA, is the Founder and Owner of Peters Professional Education ( and Peters Tax Preparation & Consulting, PC. David Peters is also registered with the U.S. Securities and Exchange Commission (SEC) as an Investment Advisor Representative (IAR) with Peters Financial LLC. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics throughout the United States, and regularly contributes regularly to various professional publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures.

1 view0 comments


bottom of page