Kevin Judge at Webster Bank in Darien helps his clients understand the steps needed to achieve their financial goals.
Photo credit: Casey Donahue

DARIEN, Conn. – The Fed will be keeping interest rates low until at least the end of 2014, Federal Reserve Chairman Ben Bernanke announced this week. At a time when the economy seems uncertain, Darien financial consultant Kevin Judge says it is important for people to set financial goals and develop strategies.

“You have to ask yourself, ‘What am I trying to accomplish?’” said Judge, a financial consultant at Webster Bank in Darien. Whether someone is trying to put away money to retire, pay a down payment on a home or send their kids to college, Judge tries to help his clients set clear goals and understand the steps and risks they need to take to get there.

He says it’s like being a “financial doctor,” diagnosing problems and working to achieve a healthier status. Like a doctor, he sometimes has to tell people something they may not want to hear.

“If you’re on a tight income, you have to understand what you’re spending your money on and how to live within your means.”

Since the 2008 economic crisis, Judge said people have had less faith in the economy and are less willing to take risks to invest their money and make it grow.

“It’s a gloomy environment. People are frustrated with the government and with the banks.” But Judge works with his clients to make sure they keep their eye on their short-term and long-term goals. Despite the slow economy, Judge said that with the help of financial planners, people can understand where to invest their money so they will ultimately yield more.

It’s never too early to start saving, he says. A person who starts thinking about his or her retirement fund at age 20 will be in a much better position than if they start at 30.

“I don’t think we save enough as a community,” he said. “People spend more time planning a two-week vacation every year than they spend planning their retirement.”