Set your retirement age    

“When is the best time to retire? There will be much foreseeing and considerations when setting an age. It depends on you, your goals, and your current financial situation,” Edward Dela Cruz, a one-year MDRT member, says. “In my case, my target retirement age is 45 years old because I want to spend the rest of my life traveling, living independently, and giving back to society through volunteer programs.”  

Dela Cruz emphasizes that it is good to set a retirement age as a financial advisor to better prepare and explore opportunities. When they try new ways or products to improve their finances, it benefits their clients. They’re able to dispense advice from a position of experience. “The best time to prepare for retirement is yesterday. The second best is today.” 

Diversify your investments  

Financial advisors like Erlszam Christian Borromeo, a one-year MDRT member, are expected to have multiple insurance and investment plans. “I currently have two insurance policies and plan to add one more. I also invest in foreign exchange, hedge funds, real estate, and piggery. This way, I’ll be able to maximize my earnings and reach my target retirement fund,” he shares. “Failing to prepare is preparing to fail, in my book.” 

Borromeo believes financial advisors must look into other investments, such as a business or real estate, to achieve long-term investment plans. “As we strive and earn, a diversified portfolio will offer the best options available. As a bonus, we will be able to learn more things in the process that we can recommend to our clients,” he added.   

Maximizing opportunities to build a retirement fund 

Jacklord Esguerra, a one-year MDRT member, shares that “as financial advisors, we need to explore things that boost our funds, especially if we’re looking at a substantial retirement amount to live comfortably in the future.”  

Esguerra has been sought out as a mentor and resource speaker. “I discovered that these two skills will allow me to help more people, not just my clients, and enrich their financial literacy. I get paid for these engagements, contributing to my investments and retirement fund.”  

He explains that working hard will open doors. “We must use resources, whether online or in real life, to improve our abilities and acquire skills. I’m not afraid of hard work. I go above and beyond the call of duty, and I’m confident that all my efforts will someday pay off. 

Contact: MDRTeditorial@teamlewis.com