Financial service professional Andrew Montgomery Costa has developed more than 15 years of experience in planning and managing finances, with a particular focus on retirement plans. A Fort Lauderdale, Florida native, he currently lives with his two sons. He has become a vocal and committed member of the local community and is happy to provide a valuable service to the city.

Andrew Montgomery Costa

Costa has been able to build an extensive career in the financial industry in a relatively short amount of time. His work has provided him a deep knowledge in the topic of financial services and retirement. It’s been his joy to share his understanding with those who are interested in bettering their future. That has been a major part of his financial career, preparing others for retirement. This is something that he finds fulfilling and rewarding, and he aims to provide pre-and post-retirees with the confidence to proceed in their life plans.

Andrew Montgomery Costa has built his life upon an educational foundation in the financial industry. He attended Florida State University and earned a degree in finance. This degree is not the total sum of his knowledge, as he continues to learn and educate himself about the financial industry with hands-on and in-depth work.

After college, Andrew pursued business experience by forming his own financial advisory firm. He was able to tease out a bulk of personal capital and business understanding from this work and rose to a high level of respect and acknowledgment through his work and dedication.

Andrew Montgomery Costa co-founded Global Wealth Management, an SEC Registered Investment Advisor in 2010. He has been the managing director of the company ever since and has been able to continue providing a high level of excellence in his work. Since achieving this position, he has been able to share his thoughts about the field in a number of different publications and on numerous platforms – even as far as the Wall Street Journal. He has been able to speak publicly as the co-host of “The Global Wealth Show” which is aired on networks like NBC, CBS, ABC, and FOX.

Lastly, he frequently contributes to Kiplinger magazine, a notable financial advice and business forecasting publication.

He is proud to have been able to have access to these varied platforms, and he is focused on making sure that the advice and thoughts he shares are of the highest quality.

His personal life is marked by fatherhood and community. As the father of two boys, Dylan and Austin he tries to spend as much of his free time with them as possible. He and his family have built a wonderful home for themselves.

Advice on Factoring Children Into Retirement Plans

You might have certain plans for retirement, but if you’re a parent you’ll need to make sure you’ve considered every possible outcome for both you’re and your children’s future. A retirement plan should always be evolving, or it will naturally begin to separate from your priorities as your life develops. What you picture in your retirement will be different from when you just start adulthood vs when you get married vs when you start a family. So here are a few major factors to consider when planning your retirement as a parent.

Sending Your Children to College

It’s important to know that your children are prepared for the future. Many young people today are beginning to pursue alternative forms of education – like trade schools or cheaper online courses – but you won’t know what your children want until it’s long past the point you should be saving. Start saving for your children’s education as early as possible and educate them on the possibilities of financial aid and the importance of scholarships.

If you DO end up dipping into your retirement savings for their education, know that an IRA can be used fairly freely, but a 529 cannot be used for anything related to education without penalties.

Taking Elder Care Off Their Plate

Elder parents require care. This is a fact of life, but we are often unprepared for the possibility of needing care of ourselves. In order to prepare for this possibility, we can seek out long-term care insurance. This is something you or your children can invest in, but the earlier you begin paying in – and the younger the recipient – the better the rates will be.

Retirement Timing

When planning for your retirement, you will need to factor into your plan more than just yourself. Your spouse, children, and even close friends or relatives are all going to be important to consider for your retirement age. When you begin to see your retirement on the horizon, and your children are beginning to enter their own lives, it can be wise to bring them in on your plans. This is great for getting them to think about their own retirement plans as well.

Retirement is a stressful thing to think about but putting a plan in place can provide us with a comforting safety net to fall upon. 

Andrew Montgomery Costa
Job Title
Financial Services Professional