Member Advantage Articles

Retirement in Sight – November 2020

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY UPAL – NOVEMBER 2020 QUOTE OF THE MONTH “In a time of drastic change, it is the learners who inherit the future.” ERIC HOFFER MOST AMERICANS THINK THEY WILL WORK IN RETIREMENT A life of leisure? That may not be what retirement looks like for baby boomers and Gen Xers—and in fact, it may not be what they want their retirements to look like. Market research firm Ipsos surveyed more than 1,000 U.S. adults earlier this year, and found…

Year-End Estate Strategies

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What you need to know to get ready for the end of the year. Provided by UPAL With one year ending and a new one on the cusp of starting, many people will consider their resolutions—not their estate strategy. But the end of the year is a great time to sit down and review your preparations, especially when you’re spending more time with your loved ones; even more important if you have a complicated estate that may need to get managed after you’re gone. Call a family meeting. Many people…

The Social Security Administration Announces 2021 COLA

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What you should know about the most recent cost-of-living adjustment. Provided by UPAL On October 13, 2020, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 1.3 percent cost-of-living adjustment (COLA) for 2021. This adjustment will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021. Additionally, increased payments to more than 8 million Supplemental Security Income (SSI) beneficiaries will begin on December 31, 2020.1 Is this a COLA lite? Many may be disappointed by this modest bump compared to…

Retirement in Sight – October 2020

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY UPAL – OCTOBER 2020 QUOTE OF THE MONTH “Somewhere there’s a score being kept, so you have an obligation to live life as well as you can, and be as engaged as you can.” BILL MURRAY ARE CAR OR TRUCK COSTS BLOCKING THE ROAD TO RETIREMENT? On a purely logical level, investing tens of thousands of dollars toward retirement may make more sense than adding an equivalent consumer debt here and now. On a practical level, though, we need…

Annual Financial To-Do List

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  Things you can do for your future as the year unfolds.  Provided by UPAL What financial, business, or life priorities do you need to address for the coming year? Now is an excellent time to think about the investing, saving, or budgeting methods you could employ toward specific objectives, from building your retirement fund to managing your taxes. You have plenty of choices. Here are a few ideas to consider: Can you contribute more to your retirement plans this year? In 2021, the contribution limit for a Roth or…

Election 2020

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Preparing for Any Outcome.  Provided by UPAL  As the U.S. presidential election draws near, expect to see more and more headlines that propose, “What will happen next if this person is elected?” or, “What policy changes to prepare for in the next four years?” In reality, however, it isn’t easy to anticipate what may happen with the financial markets after the November elections. An ambitious investor would have to forecast the election results, evaluate which policies may become law, estimate a potential economic impact, and assess how the financial markets…

Retirement in Sight – September 2020

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY UPAL – SEPTEMBER 2020 QUOTE OF THE MONTH “Elegance is not about being noticed. It’s about being remembered.” GIORGIO ARMANI COULD YOU RETIRE AT 55? Suppose you suddenly had to, or the opportunity presented itself. This prospect would not call for disregarding your carefully considered retirement strategy, but it would create some challenges. Social Security, Medicare, and popular retirement accounts were all created with the assumption that Americans would need retirement benefits and sources of retirement income, sometime in…

Retirement in Sight – August 2020

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY UPAL – AUGUST 2020 QUOTE OF THE MONTH “Not everything that is faced can be changed, but nothing can be changed until it is faced.” JAMES BALDWIN FIGURING OUT WHEN TO START YOUR SECOND ACT Many Gen Xers and baby boomers look forward to retiring on their terms. In such a circumstance, the key question becomes when to walk away from work. According to the Center for Retirement Research at Boston College, the average retirement age is now 65…

Retirement in Sight – July 2020

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Monthly News and Information for Current and Future Retirees Presented by UPAL – JULY 2020 QUOTE OF THE MONTH “We are made to persist. That’s how we find out who we are.” TOBIAS WOLFF HAS THE PANDEMIC AFFECTED THE RETIREMENT MINDSET? Each year, the Transamerica Center for Retirement Studies surveys baby boomers, Gen Xers, and millennials to gauge their perceptions about retiring. The 2020 survey, conducted in April, studied the impact of the COVID-19 pandemic and how it may have affected their outlooks. Overall, 53% of respondents said that their…

BOK Financial’s Economic & Market Outlook Call

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Q3 2020 ECONOMIC & MARKET OUTLOOK CALL Scheduled for Wednesday, July 8, 2020 Please join J. Brian Henderson, BOK Financial’s Chief Investment Officer, for our next Economic and Market Outlook call. We will provide a comprehensive market analysis, review the latest U.S. and global economic conditions and discuss what it means for you and your business. SPEAKERS: Brian Henderson, Executive Vice President, Chief Investment Officer Matt Stephani, President, Cavanal Hill Investment Management Mark Buntz, Senior Vice President, Director of Alternative Investments Wednesday, July 8, 2020 3:30- 4:30 p.m. CT Conference Call Number: 1.888.317.6003 Participant Elite…