How to Plan For Retirement - KTVN Channel 2 - Reno Tahoe News Weather, Video -

How to Plan For Retirement

Posted: Updated:

Ready or not, retirement will be here for all of us one day.

For this week's Face the State, I sat down with Chris Abts, the founder of Cornerstone Retirement.

I asked him what is the biggest mistake people make regarding their retirement. "People don't correctly factor in inflation and sometimes people take more risk than they should or don't realize how long they will live. Those are some of the basic things, but it really just comes down to not having a plan."

Abts said ideally you should be putting at least 10% of your paycheck into retirement. He said if you aren't able to do that and many people can't, at least start somewhere.

From there, as you get older, increase your retirement funding, along with your wages.

I asked Abts how can a person plan for market corrections, like we saw in 2008. He said give your retirement plan the stress test. "It's going back and looking at your portfolio and say what's the risk of my portfolio, what are my fees, what's the rate of my return and does that tie in with my income needs and does that tie in with my risk exposure, meaning your risk exposure needs to be in line with your risk comfort level."

To watch the entire interview, tune in for my weekend show Face the State. It airs Saturday at 3:30pm and Sunday at 6:30am and 4pm.

Written by Chris Ciarlo

  • Today's Top StoriesMore>>

  • Ahmed Sends Aces to Playoffs

    Ahmed Sends Aces to Playoffs

    Tuesday, September 2 2014 1:38 AM EDT2014-09-02 05:38:20 GMT
    Nick Ahmed delivered a two-out, run-scoring base hit in the top of the tenth inning to give the Aces a 2-1 win over the Sacramento River Cats, sending Reno to the Pacific Coast League Playoffs.More >>
    Nick Ahmed delivered a two-out, run-scoring base hit in the top of the tenth inning to give the Aces a 2-1 win over the Sacramento River Cats, sending Reno to the Pacific Coast League Playoffs.
    More >>
  • Desperado's BBQ Wins Best Ribs in the West

    Desperado's BBQ Wins Best Ribs in the West

    Monday, September 1 2014 8:47 PM EDT2014-09-02 00:47:37 GMT
    The winner of the 2014 Best in the West Nugget Rib Cook-Off in Sparks, Nevada went to Desperado's BBQ from Hinckley, Ohio.More >>
    The winner of the 2014 Best in the West Nugget Rib Cook-Off in Sparks, Nevada went to Desperado's BBQ from Hinckley, Ohio.More >>
  • Lawsuit Against Nevada Wildlife Commission

    Lawsuit Against Nevada Wildlife Commission

    Monday, September 1 2014 7:47 PM EDT2014-09-01 23:47:40 GMT
    Two men have sued Nevada wildlife commissioners, saying current trapping regulations are causing needless suffering for thousands of "non-target" animals including dogs, golden eagles and mountain lions.More >>
    Two men have sued Nevada wildlife commissioners, saying current trapping regulations are causing needless suffering for thousands of "non-target" animals including dogs, golden eagles and mountain lions.More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.