Financial Facts

October 2012

THE IMPORTANCE OF PLANNING FOR RETIREMENT


Some people think that retirement planning isn’t important because they won’t live until retirement. Consider...


Of 100 Men at Age Their Odds of Living to Retirement at Age 65
30 84%
40 85%
50 88%
60 94%

Of 100 Women at Age Their Odds of Living to Retirement at Age 65
30 87%
40 88%
50 90%
60 95%

Source: 2001 Commissioners' Standard Ordinary (CSO) Mortality Table; based on composite date (combination of smokers, nonsmokers and smoking status unknown); age nearest birthday


Not only will the vast majority of us live to reach retirement at age 65, but with advances in medical technology, we can also expect to live a substantial number of years after retirement. Consider...


A Man Who Is Currently Age: Has a Life Expectancy of Age:
30 78
40 78
50 79
60 81

A Woman Who Is Currently Age: Has a Life Expectancy of Age:
30 82
40 82
50 83
60 84

Source: 2001 Commissioners' Standard Ordinary (CSO) Mortality Table; based on composite date (combination of smokers, nonsmokers and smoking status unknown); age nearest birthday

The biggest financial risk that anyone faces during retirement is the risk that income will be outlived.

Don't let a lack of planning keep you from realizing your retirement dreams!



MESSAGES
from the Masters...

REAL RESOLUTIONS

by Beth Pugh

I recently took my 15-year-old son out of school for the day and took him to a conference on success. It was a great thing for us to do together and started a conversation about plans and goals. He now sees the need for developing a plan to get what he wants vs. just wishing life would be the way he wants it to be.

Goals are intentional. They are a strategy, a map, and a blueprint for having what you want in life. It's often been said that 'those who fail to plan, plan to fail.' Bill Cole says, "A dream without a goal is just a wish."

It is with this spirit that I have asked my clients and now am challenging you to think about both your short-term and long-term goals. It is important to understand that often the short-term goals are the stepping stones to the bigger ones.

What were your resolutions back in January? Do you recall? Have you attained them? If so, congratulations! If not, you still have the rest of the year to make them a reality. Why not start now?

What do you want life to look like at the end of this year? Will it be a struggle? Will it be chaotic and lose all significance in the Holiday rush? Will you overspend or charge when you shouldn't? Take the time now to plan out a strategy to take you through the rest of the year. Are you going to have a party? Plan it now. Do you make gifts? Make them now. Do you want to just get away? Reserve it now.

The New Year may seem far away, but it is coming quickly, I guarantee that. What is going to be the year you lose that extra weight? Stop smoking? Find a job you love? Develop a healthy relationship? Start a new business?

WHAT DO YOU NEED TO DO TO GET WHERE YOU WANT TO GO?

People fail because they do not have a strategy for achieving their goals. They may take action, but not have a plan. Or they may have a plan, but take no action. Now is the time to begin thinking about what your goals are, making a plan to achieve them, and developing an action strategy so that you create the discipline necessary to sustain them. The pole vaulter, Bob Richards, puts it this way, "Goals give purpose. Purpose gives faith. Faith gives courage. Courage gives enthusiasm. Enthusiasm gives energy. Energy gives life. Life lifts you over the bar."

What will it take to get you over the bar?

Brought to you by:

Jeffrey N. Schweitzer, EPA, CEP, ATP

Northeast Financial Strategies Inc

667 South Street
Wrentham, MA 02093
800-560-4637
jeff@nfsnet.com
http://www.nfsnet.com

About our firm:

Offering Financial & Estate Planning, Investments, Insurance, Accounting, Payroll, and Income Tax Preparation for Individuals & Small Business. "Financial Strategies That Fit YOUR Needs!"

QUOTES
from the Masters...

On Business

"To succeed in business, you must specialize in a particular product or service for a particular customer, and then do what you do in an excellent fashion."

-– Brian Tracy

"Even in the worst depression, 25% of businesses are booming – in your industry find out what they're doing and do it."

-– Mark Victor Hansen

"I don't judge companies by the CEO or people who fly in the corporate jets. I judge a company by the real people, the ones who answer the phone and carry your bags."

-- Patricia Fripp

On Basics/ Fundamentals

"Some things you have to do every day. Eating seven apples on Saturday night instead of one a day just isn't going to get the job done."

-- Jim Rohn

"Every business or position has no more than 5 to 7 critical success factors that determine how well it does."

-– Brian Tracy

"The great secret of success is that there are no secrets of success; there are only timeless principles that have proven effective throughout the centuries."

-– Brian Tracy

The purpose of this newsletter is to provide information of general interest to our clients, potential clients and other professionals. The information provided is general in nature and should not be considered complete information on any product or concept described.

For more complete information, please contact my office at the phone number above.

Published by The Virtual Assistant; 2012 VSA, LP

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Thanks!


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