Retirement In Sight for September, 2015


R E T I R E M E N T I N S I G H T
Presented by Rick Costner
 

MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES

 

SEPTEMBER 2015

 

Know the true value of time; snatch, seize, and enjoy every moment of it. No idleness; no laziness; no procrastination; never put off till tomorrow what you can do today.
  

- Lord Chesterfield

 

HEALTH TIP
Share your concerns about falling with your doctor

If you have fallen recently or feel unsecure on your feet, you should speak with your physician about it. Ask your doctor to assess your future fall risk in light of your health history, your balance, medications, and other factors.

 

BRAIN TEASER
Happy Anniversary!
Marie and Andy were married 21 years ago. Andy was three times as old as Marie. Today, he is twice as old as she is. How old was Marie on her wedding day?*

 

DID YOU KNOW?
Casual Friday turns 50 this year

In 1965, the Hawaiian Fashion Guild capped a 3-year lobbying effort in the Hawaiian House of Representatives and Senate to get state employees to wear Aloha shirts every Friday. By 1966, the Hawaiian shirt was common Friday business attire for men in the 50th state. The Aloha Friday idea was eventually borrowed by mainland businesses in the early 1990s as Casual Friday.4

 

 


FOCUS ON THE RETIREMENT PLANNING FACTORS YOU CAN CONTROL

When you retire, there are some life and financial factors that are beyond your control – how the markets perform, how long you may live, how your health holds up, whether inflation increases or stays muted. You do have control over other important factors: the level of savings you maintain, your degree of spending, the way you invest, and the withdrawal and risk management strategy you adopt. 

 

Making your retirement nest egg last comes down to good judgment. If luxuries begin to seem more like necessities to you once you retire, you might find yourself drawing down your savings unreasonably fast. Reasonable spending during the first, active phase of retirement leaves that much more for the balance of your retirement. Your money may need to last quite a while – the Social Security Administration estimates that retirement will last about 18 years for the average 65-year-old man today and about 20 years for the average 65-year-old woman. Maintaining and refining your retirement planning strategy is also vital – that means periodically checking to see that your current investment mix suits your risk tolerance, reviewing your portfolio’s tax efficiency, and occasionally rebalancing. Control and caution go hand in hand when it comes to sustaining your retirement savings.1

 

 

FINDING THAT “ENCORE CAREER”

If you want to stay active and engaged through some meaningful work in retirement, you likely already have the skills that will translate to an encore career or simply a worthwhile job. Some executives and managers transition into roles as consultants and life coaches. Others take their skills in the non-profit sector into jobs that directly impact the community, as administrators or managers of food banks, senior centers, and other organizations.

 

The hobby you have always loved might lead you to work – if you play the piano well, consider giving piano lessons, or if you love golf, you could work at a golf club pro shop. If you have a great voice, you could pursue voiceover work; if you have always kept things neat at home and at the office, consider rebranding yourself as a personal or workplace organizer. Your community’s demographics might also lead you to a job that caters to an underserved population group – which could even be your fellow retirees.2

 

ON THE BRIGHT SIDE
U.S. Equal Opportunity Commission research shows that the number of age discrimination complaints filed by older workers declined from 21,396 in 2013 to 20,588 in 2014.3

 

 


Rick Costner may be reached at
303-750-8500 or rcostner@g5financialgroup.com
www.rickcostner.com

 

     

Security and investment advisory services offered through Geneos Wealth Management, Inc. Member FINRA/SIPC

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. 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! (303) 750-8500

CITATIONS.
1 - nerdwallet.com/blog/finance/advisorvoices/retirement-planning-control/ [9/1/15]

2 - money.usnews.com/money/blogs/on-retirement/2015/09/09/5-ways-to-find-second-act-career-options [9/9/15]p

3 - dailynews.com/health/20150908/successful-aging-work-in-retirement [9/8/15]

4 - todayifoundout.com/index.php/2015/09/surprising-origins-casual-friday/ [9/2/15]

 

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