 You May Live Longer Than You Think!
One common misconception is assuming retirement will last ten to fifteen years.
Historically, retirement has lasted about 10-15 years for most Americans. The key word here is "historically". When Social Security was created in 1933, the average American could anticipate living to age 61. By 2005, life expectancy for the average American had increased to 78.1
So assuming you'll only need 10 or 15 years worth of retirement money could be a big mistake.
In 2010, the American Academy of Actuaries said that the average 65-year-old American male can expect to live to 84½, with a 30% chance of living past 90. The average 65-year-old American female has an average life expectancy of 87, with a 40% chance of living past 90.2
We can help you anticipate your retirement needs. Contact one of us to get started, Amy Brandts or Nancy Rick. |
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Little Things to Keep in Mind for
Life After Work Decades ago, there was a popular book entitled What They Don't Teach You at Harvard Business School. Perhaps someday, another book will appear to discuss certain aspects of the retirement experience that go unrecognized - the "fine print", if you will.
While the number one retirement fear is someday running out of money, your income stream may actually prove more important than your retirement nest egg. How great will the income stream be from your accumulated wealth?
Here are some little things that can be frequently overlooked.
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Citations
1 - nytimes.com/2008/04/27/weekinreview/27sack.html?pagewanted=print [4/27/08]
2 - usatoday.com/money/perfi/retirement/2010-04-30-401k28_CV_N.htm [5/3/10]
(This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. Marketing Library.Net Inc. is not affiliated with any broker or brokerage firm that may be providing this information to you. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. Please note - investing involves risk, and past performance is no guarantee of future results. 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. This is not a solicitation or a recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.)
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Registered Representatives. Securities offered
through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representatives, Cambridge Investment Research Advisors, Inc. a Registered Investment Advisor. Cambridge and Symphony are not affiliated |
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Quote for the Month
We could certainly slow the aging process down if it had to work its way through Congress.
~ Will Rogers
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Monthly Tip: Protect Yourself While Shopping Online
Don't use a debit card - and use only one credit card.
If your debit card gets hacked, the thieves may get access to your bank account. But if you use one credit card, you will have only one card to cancel if your card number is compromised. It would also be wise to keep a low credit limit on that card.
Look for https:// before you enter personal information.
When you see that 's' after http, that indicates you are transmitting data within a secure site. Depending on your browser, you may also see a padlock symbol at the bottom of the browser window.
(see Citations below)
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Economic Update
June was full of developments, some hardly expected. Buoyed in particular by the Greek elections and the EU summit, the Dow gained 3.93% for the month. The housing sector seemed more promising than other sectors of the economy. June could have been a terrible month for stocks; instead, it turned what would have been a dismal quarter into a merely lackluster one.
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Symphony Financial
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Herndon, VA 20170
Office: 703-865-4092 - Fax: 703-865-4096
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