{"id":3146,"date":"2023-04-12T06:45:34","date_gmt":"2023-04-12T10:45:34","guid":{"rendered":"https:\/\/www.montgomerymag.com\/?p=3146"},"modified":"2023-04-11T17:47:56","modified_gmt":"2023-04-11T21:47:56","slug":"montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride","status":"publish","type":"post","link":"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/","title":{"rendered":"Montgomery County financial specialist Miguel Villegas tells how to plan for a comfortable ride"},"content":{"rendered":"
\"\"
Getty<\/figcaption><\/figure>\n

By Raquel Alfaro<\/strong><\/p>\n

Do you find yourself daydreaming of retiring to a beach? Or maybe you hope to travel the world. But before you buy that plane ticket you have to make sure you\u2019re financially prepared to enter your next venture.<\/p>\n

To succeed in retirement, you need to have a financial plan and understand the dos and don\u2019ts.<\/p>\n

If you\u2019re looking for a stress-free process to lead to your dream retirement, it\u2019s always best to get a jump ahead and plan. If you\u2019re new to the process and want to know where to get started on your road to retirement, look no further.<\/p>\n

Montgomery Magazine spoke to financial specialist Miguel Villegas, CEO of Villegas Financial Group in Gaithersburg, for his directions on the road to retirement.<\/p>\n

Montgomery Magazine:<\/strong> How long have you been in the financial industry and your role as a financial specialist?<\/p>\n

Miguel Villegas<\/strong>: I\u2019ve been in the industry and a financial specialist for over 14 years.<\/p>\n

Q:<\/strong> What is a common mistake you\u2019ve seen people make when it comes to planning their retirement?<\/strong><\/p>\n

Over the years, I\u2019ve seen people not taking the necessary steps to set up their retirement plans. I\u2019ve also seen people waiting too long to plan and take action when it comes to setting up their retirement. Which can make the process a bit more difficult and stressful, especially if you have a year before retirement.<\/p>\n

\"\"
Financial specialist Miguel Villegas. Courtesy Miguel Villegas<\/figcaption><\/figure>\n

Q: So, what would you say is the best retirement plan, especially if you have a year before retiring?<\/strong><\/p>\n

A: It could be a 401k, could be an IRA, it could be all types of retirement planning. So, if you\u2019re a year away from retiring you have to start by talking to a financial specialist or financial adviser. They\u2019ll be able to help you locate those assets and help you to maximize your benefits and minimize your taxes.<\/p>\n

Q: What kind of accounts would you need to get started for your retirement plan?<\/strong><\/p>\n

A: If you are a business owner you can do an SEP IRA, it could be a Roth IRA, etc. There are many types of IRAs, but if you want to do a pre-tax, usually it\u2019s a traditional IRA.If you want to do a post-tax dollar plan, you can put up to $6,500 a year for a Roth IRA that\u2019ll go toward your retirement plan.<\/p>\n

Q: Is there a certain amount of money you need when you retire?<\/strong><\/p>\n

A: It comes down to the kind of lifestyle you have. Or the county and place you\u2019re looking to retire. Most people look at places like Delaware or Florida because they have no state income tax so it\u2019s a way to save money.<\/p>\n

Q: When should I claim my Social Security and is there an amount of money I should expect?<\/strong><\/p>\n

A: Usually, the longer you wait the better and more money you\u2019ll have. Back in the day, people were retiring around 62 to 63 years old. Now it has extended to around 67 years old, which is an ideal situation.<\/p>\n

However, most people want to retire earlier, so they end up getting a lower percentage on their Social Security.<\/p>\n

As far as an amount of money to expect, it depends on how much you contributed over the years, how much you worked, the type of income stream you\u2019ve got, and when you will ultimately retire.<\/p>\n

Q: How will I know if I qualify for Medicare?<\/strong><\/p>\n

A: It varies on the income stream that you\u2019d receive from your Social Security as well as the income you\u2019d receive from your pension plans.<\/p>\n

Some people have pension plans while others have accumulated a decent amount of money that will give them a good income stream. The more money your make, the fewer chances you have to qualify for Medicare.<\/p>\n

Q: How can I diversify my portfolio to get the best return?<\/strong><\/p>\n

A: Always put some money into a type of mutual fund where they\u2019re going to have some bonds, fixed income and some equities to diversify your portfolio. You want to be sure that your portfolio is suitable for you.<\/p>\n

In this step of the process, you\u2019ll want to review your portfolio with your financial specialist every couple of years or every year because things are constantly changing.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Raquel Alfaro Do you find yourself daydreaming of retiring to a beach? Or maybe you hope to travel the world. But before you buy that plane ticket you have to make sure you\u2019re financially prepared to enter your next venture. To succeed in retirement, you need to have a financial plan and understand the […]<\/p>\n","protected":false},"author":58,"featured_media":3154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,61],"tags":[],"yoast_head":"\nMontgomery County financial specialist Miguel Villegas tells how to plan for a comfortable ride - Montgomery Magazine<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Montgomery County financial specialist Miguel Villegas tells how to plan for a comfortable ride - Montgomery Magazine\" \/>\n<meta property=\"og:description\" content=\"By Raquel Alfaro Do you find yourself daydreaming of retiring to a beach? Or maybe you hope to travel the world. But before you buy that plane ticket you have to make sure you\u2019re financially prepared to enter your next venture. To succeed in retirement, you need to have a financial plan and understand the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/\" \/>\n<meta property=\"og:site_name\" content=\"Montgomery Magazine\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-12T10:45:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-11T21:47:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.montgomerymag.com\/wp-content\/uploads\/2023\/04\/GettyImages-898428170-e1681249634250.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"490\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"- -\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"- -\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/\",\"url\":\"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/\",\"name\":\"Montgomery County financial specialist Miguel Villegas tells how to plan for a comfortable ride - Montgomery Magazine\",\"isPartOf\":{\"@id\":\"https:\/\/www.montgomerymag.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.montgomerymag.com\/wp-content\/uploads\/2023\/04\/GettyImages-898428170-e1681249634250.jpeg\",\"datePublished\":\"2023-04-12T10:45:34+00:00\",\"dateModified\":\"2023-04-11T21:47:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.montgomerymag.com\/#\/schema\/person\/0e599f0a6a0506115a526b3e6eae680b\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/#primaryimage\",\"url\":\"https:\/\/www.montgomerymag.com\/wp-content\/uploads\/2023\/04\/GettyImages-898428170-e1681249634250.jpeg\",\"contentUrl\":\"https:\/\/www.montgomerymag.com\/wp-content\/uploads\/2023\/04\/GettyImages-898428170-e1681249634250.jpeg\",\"width\":700,\"height\":490,\"caption\":\"Getty\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.montgomerymag.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Montgomery County financial specialist Miguel Villegas tells how to plan for a comfortable ride\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.montgomerymag.com\/#website\",\"url\":\"https:\/\/www.montgomerymag.com\/\",\"name\":\"Montgomery Magazine\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.montgomerymag.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.montgomerymag.com\/#\/schema\/person\/0e599f0a6a0506115a526b3e6eae680b\",\"name\":\"- -\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.montgomerymag.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/eccd0dc69b33716c6336abb085e617b5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/eccd0dc69b33716c6336abb085e617b5?s=96&d=mm&r=g\",\"caption\":\"- -\"},\"url\":\"https:\/\/www.montgomerymag.com\/author\/generic\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Montgomery County financial specialist Miguel Villegas tells how to plan for a comfortable ride - Montgomery Magazine","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/","og_locale":"en_US","og_type":"article","og_title":"Montgomery County financial specialist Miguel Villegas tells how to plan for a comfortable ride - Montgomery Magazine","og_description":"By Raquel Alfaro Do you find yourself daydreaming of retiring to a beach? Or maybe you hope to travel the world. But before you buy that plane ticket you have to make sure you\u2019re financially prepared to enter your next venture. To succeed in retirement, you need to have a financial plan and understand the […]","og_url":"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/","og_site_name":"Montgomery Magazine","article_published_time":"2023-04-12T10:45:34+00:00","article_modified_time":"2023-04-11T21:47:56+00:00","og_image":[{"width":700,"height":490,"url":"https:\/\/www.montgomerymag.com\/wp-content\/uploads\/2023\/04\/GettyImages-898428170-e1681249634250.jpeg","type":"image\/jpeg"}],"author":"- -","twitter_card":"summary_large_image","twitter_misc":{"Written by":"- -","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/","url":"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/","name":"Montgomery County financial specialist Miguel Villegas tells how to plan for a comfortable ride - Montgomery Magazine","isPartOf":{"@id":"https:\/\/www.montgomerymag.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/#primaryimage"},"image":{"@id":"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/#primaryimage"},"thumbnailUrl":"https:\/\/www.montgomerymag.com\/wp-content\/uploads\/2023\/04\/GettyImages-898428170-e1681249634250.jpeg","datePublished":"2023-04-12T10:45:34+00:00","dateModified":"2023-04-11T21:47:56+00:00","author":{"@id":"https:\/\/www.montgomerymag.com\/#\/schema\/person\/0e599f0a6a0506115a526b3e6eae680b"},"breadcrumb":{"@id":"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/#primaryimage","url":"https:\/\/www.montgomerymag.com\/wp-content\/uploads\/2023\/04\/GettyImages-898428170-e1681249634250.jpeg","contentUrl":"https:\/\/www.montgomerymag.com\/wp-content\/uploads\/2023\/04\/GettyImages-898428170-e1681249634250.jpeg","width":700,"height":490,"caption":"Getty"},{"@type":"BreadcrumbList","@id":"https:\/\/www.montgomerymag.com\/montgomery-county-financial-specialist-miguel-villegas-tells-how-to-plan-for-a-comfortable-ride\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.montgomerymag.com\/"},{"@type":"ListItem","position":2,"name":"Montgomery County financial specialist Miguel Villegas tells how to plan for a comfortable ride"}]},{"@type":"WebSite","@id":"https:\/\/www.montgomerymag.com\/#website","url":"https:\/\/www.montgomerymag.com\/","name":"Montgomery Magazine","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.montgomerymag.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.montgomerymag.com\/#\/schema\/person\/0e599f0a6a0506115a526b3e6eae680b","name":"- -","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.montgomerymag.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/eccd0dc69b33716c6336abb085e617b5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/eccd0dc69b33716c6336abb085e617b5?s=96&d=mm&r=g","caption":"- -"},"url":"https:\/\/www.montgomerymag.com\/author\/generic\/"}]}},"_links":{"self":[{"href":"https:\/\/www.montgomerymag.com\/wp-json\/wp\/v2\/posts\/3146"}],"collection":[{"href":"https:\/\/www.montgomerymag.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.montgomerymag.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.montgomerymag.com\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.montgomerymag.com\/wp-json\/wp\/v2\/comments?post=3146"}],"version-history":[{"count":4,"href":"https:\/\/www.montgomerymag.com\/wp-json\/wp\/v2\/posts\/3146\/revisions"}],"predecessor-version":[{"id":3155,"href":"https:\/\/www.montgomerymag.com\/wp-json\/wp\/v2\/posts\/3146\/revisions\/3155"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.montgomerymag.com\/wp-json\/wp\/v2\/media\/3154"}],"wp:attachment":[{"href":"https:\/\/www.montgomerymag.com\/wp-json\/wp\/v2\/media?parent=3146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.montgomerymag.com\/wp-json\/wp\/v2\/categories?post=3146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.montgomerymag.com\/wp-json\/wp\/v2\/tags?post=3146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}