When asked about mistakes professionals make when it comes to financial planning for retirement, he said “The big mistake I see people making with their 401k’s and IRA’s is that they are contributing above and beyond their company match. Instead of filling up a bucket of money that is 100 percent taxable at a later date, you can put the extra money in something that will work more efficiently.”
Babinski recommends saving 15 to 20 percent for retirement. Most people save between five and 10 percent of their income for retirement through a pre-tax 401k, with an employer typically offering a three to six percent matching contribution. When professionals are able to save more income beyond that match, a 100-percent tax-free Roth IRA may make more sense. Not all companies offer a 401k plan, so Babinski also helps clients research and choose alternative retirement plans.
David P Babinski has 25 years’ experience in investment advisory and capital raising.
He has raised in excess of $250,000,000 for real estate and alternative investment programs with HNW Individuals and Family Offices.
Mr. Babinski has extensive experience with real estate syndications, Private Placements, co-investment structures, as well as advanced tax planning strategies.
Mr. Babinski not only brings his extensive knowledge of private, direct and alternative investments but also his experience owning and managing entrepreneurial companies.
He has previously built a successful financial advisory firm that was sold to a NYSE traded company and also developed franchise territories with Industry innovators like 1-800-GOT-JUNK and Mr. Handyman.
Reporters can schedule an interview with him by emailing davidbabinski@truenorthresources.net
