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Lost: Female German Shepherd, about 2 years old, pink collar, lost from Hickory Hill/Great Oaks Subdivisions off FM 539, La Vernia, on Thurs., Feb. 4. Reward! 830-947-3465.
Found: Basset Hound, Hwy. 97 W./Hospital Blvd., Floresville. Call 830-391-2153 between 9 a.m.-11:30 p.m.
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Special Section


Senior Living: Three threats to a secure retirement




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May 21, 2014 | 2,248 views | Post a comment

Quick! name the top three threats to your retirement security. Need some help? How about these:

•Volatile stock market

•Lack of company pensions

•Stagnant household incomes

•Skyrocketing health-care costs

•Cuts to Medicare and Social Security

•Supporting grown kids living at home.

Were any of those on your list? These are the topics we hear most about, aren’t they? Actually, none of them has more power to threaten your retirement than the following three things:

Debt -- People all across the country are sacrificing their paychecks for years and years to pay off debt. But if you live without debt, your income can build your retirement nest egg instead. Even someone earning a modest income of $30,000 can save $1.3 million for retirement with 30 years of diligent investing. But if they spend 15 years in debt with car loans, credit card bills, or student loans, they’re looking at only $189,000 after 30 years of work.

The takeaway? Get out of debt as soon as you can, and stay out. Invest as soon as you’re debt-free and have an emergency fund in place. Time is your greatest ally when you’re saving for retirement.

Lack of planning -- Only 42 percent of workers have attempted to determine how much money they will need in retirement. As a result, 60 percent of workers have saved less than $25,000, and about a third of them believe they’ll need just $250,000 for a comfortable retirement.

Successful retirement planning starts when you take responsibility for your future. Find out how much you’ll really need to retire well, and adopt a simple strategy that will allow you to reach that goal:

•Invest 15 percent of your income in tax-advantaged plans.

•Select mutual funds in these categories: growth and income, growth, aggressive growth, and international.

•Start by investing in your 401(k) up to your employer’s match.

•Invest the remainder of your 15 percent in an IRA or Roth IRA.

•Stick to your investments no matter what’s going on in the stock market.

DIY Investing -- While you are the one making the decisions about your retirement savings plan, research shows that you do not need to do it on your own. Do-it-yourself investors often react emotionally to their investments’ performance, being overly optimistic when they’re up and panicking when they drop.

That behavior can knock big percentage points off your returns, and put a dent in your savings plan. A professional investing advisor who’s seen the stock market’s ups and downs can give you the objective advice you need to stay on track!

--Used with permission from daveramsey.com
 

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