Retirement in Sight
R E T I R E M E N T I N S I G H T
Presented by MidAmerica Financial Resources
MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES
“There are no mistakes. The events we bring upon ourselves, no matter how unpleasant, are necessary in order to learn what we need to learn; whatever steps we take, they’re necessary to reach the places we’ve chosen to go.”
- Richard Bach
Don’t have the time for a single 30-minute workout? A study by Arizona State University’s Healthy Lifestyles Research Center, found that breaking a 30 minute workout into 3 ten-minute sessions had greater benefits than the single half hour workout, specifically in terms of lowering blood pressure. Take three short walks a day: walking your dog, pushing a stroller, a short hike to the store, and create a heart-healthy habit.
What Comes Next?
What comes next in this series of numbers? 1, 1, 2, 3, 5, 8, 13, 21... (Hint: That second number 1 is not a misprint.).*
DID YOU KNOW?
Lands of Extremes
Mongolia is the least densely populated country on earth, with an average of 4 people per square mile. Hong Kong’s Mong Kok district has the highest population density on the planet, at 340,000 people per square mile.4
YEAR-END TIPS TO HELP MAKE RETIREMENT DOLLARS LAST
With 2014 almost here, you may be looking for some year-end ways to try and maximize your portfolio return, reduce your exposure to risk, or lower certain expenses. The end of 2013 offers you some options.
This is a good time to double-check the tax efficiency of your portfolio, and to consider tax loss harvesting (selling your losers to offset gains). Should you adjust your withdrawal rate or your asset allocation? Should you claim Social Security benefits at 70, 66, or sooner?
If you are thinking about selling a business or a home in which you have a lot of equity, remember that the extra income might expose you to the new 3.8% Medicare surtax (which applies to net investment income for married taxpayers with MAGI above $250,000, and single filers with MAGI above $200,000). You could possibly reduce taxable investment income through charitable gifting or other year-end tax moves.
You have until Dec. 7 to look at Medicare options for next year. Would a Part D plan save you money on prescription drugs? Would Medigap supplemental coverage bring you lower deductibles or copays? Would a Medicare Advantage plan be cheaper than original Medicare? Just some things to think about.1
ENCOURAGING YOURSELF TO SAVE MORE FOR THE FUTURE
Your retirement savings effort depends on commitment, even more so than investment performance. So how can you keep that commitment from wavering?
Teach your “financial mind” to think about the future ahead of the present. If you have a goal of saving $1 million for retirement and you are dedicating $30,000 a year toward that goal, amassing that million may seem like a pipe dream – even if you are halfway to your objective. Keep at it: strengthen your dedication to save by thinking about the income you need for retirement. Use an online retirement calculator and see how much monthly or yearly income you would derive from your current retirement nest egg. This reality check may prompt you to save even more for tomorrow - and perhaps most importantly, it can help you resist any temptation to dip into your retirement savings today.2
ON THE BRIGHT SIDE
In a recently released Associated Press poll, 63% of workers 65 and older said that they were deeply satisfied with their jobs. Only 38% of young adults felt that way.3
MidAmerica Financial Resources may be reached at
618.548.4777 or firstname.lastname@example.org
Securities and advisory services offered through National Planning Corporation (NPC), Member FINRA/SIPC, a Registered Investment Advisor. MidAmerica Financial Resources, SunAmerica, and Malan Financial Group are separate and unrelated companies to NPC.
This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty.
* TRIVIA ANSWER: Stumped? Contact me for the answer! 618.548.4777
1 - cnbc.com/id/101092713 [10/22/13]
2 - foxbusiness.com/personal-finance/2013/10/31/4-retirement-saving-mind-games/ [10/31/13]
3 - cbsnews.com/8301-505146_162-57609545/not-happy-with-work-wait-until-youre-50-or-older/ [11/11/13]
4 - travelforfreebook.wordpress.com/2012/05/29/25-amazing-facts-about-countries-around-the-world/ [5/29/12]
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