Member Advantage Articles

Retirement In Sight – May 2019

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Monthly News and Information for Current and Future Retirees Presented by UPAL – May 2019 QUOTE OF THE MONTH “To know oneself is to study oneself in action with another person.” BRUCE LEE RETIRING WITH A CASH RESERVE Many people want to enter retirement with a) investments that may have benefited from years of growth and compounding, b) a manageable debt position, and c) a cash reserve for emergencies. Just how large should that cash reserve be? There is no simple answer to that question because the answer is different…

Retirement in Sight – April 2019

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  MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES Presented by UPAL – April 2019 QUOTE OF THE MONTH “If you rest, you rust.” HELEN HAYES IN RETIREMENT, YOUR SPENDING COULD FLUCTUATE Your retirement income strategy will almost certainly evolve. How much you spend will vary from year to year, and in some years, you will spend more on some things than others. At the start of your retirement, you may spend more than you think. A recent J.P. Morgan Asset Management analysis of more than 5 million Chase…

Retirement in Sight – March 2019

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Monthly News and Information for Current and Future Retirees Presented by UPAL – MARCH 2019 QUOTE OF THE MONTH “You must do the things you think you cannot do.” ELEANOR ROOSEVELT DEALING WITH A “surprise” RETIREMENT For years, you have imagined the way your “second act” will unfold: when it will start, what you will do, and where you will be. Then life hands you a wild card. You are forced to retire years earlier than you planned and with little notice. How do you adjust? This turn of events…

Is America Prepared to Retire?

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A look at some ways to get ready. February 26, 2019 Are Americans saving enough? Only 19% of U.S. adults describe themselves as “very confident” when asked about their savings. Worry spots include retiring without enough money saved (16%) and anxiety about having a “rainy day” emergency fund (14%). These findings come from the 2018 Consumer Financial Literacy Survey conducted by the National Foundation for Credit Counseling. (The survey collected data from 2,017 U.S. adults.)1 Only 41% of us keep a regular budget. If you are one of those roughly…

Social Security by the Numbers

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Facts about the federal Old-Age, Survivors, and Disability Insurance (OASDI) program. February 26, 2019 Social Security has been a pillar of retirement life for several decades, but how much do you really know about it? Here are some facts that might surprise you: The Social Security trust fund exceeds the gross domestic product of every major economy in the world, except the nine largest: China, the European Union, the United States, India, Japan, Germany, Russia, Indonesia, and Brazil.1 For 61% of retirees, Social Security is a major source of income.1…

Value vs. Growth Investing

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There are those who favor value and those who favor growth. February 26, 2019 You might be initially confused by these terms or even suspect they aren’t that different in terms of what each model offers you as an investor, but they are very distinct approaches, and it’s good to understand these two schools of thought as you invest. This understanding could help you make important investment decisions, both now and in the future.1 At first glance, some of the advantages to each approach may not be immediately obvious, depending…

Succession Planning

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Preparing a smoother transition. February 11, 2019 A successful finale. If you are an entrepreneur, what is the final act for you and your business? If you have been successful, you likely want the company you created to be able to continue once you are no longer at the helm. For that reason, many people in your position create a succession plan to implement when the time comes. What do you need to think about? It may be helpful to start with the end – that is, visualize how you…

Your Emergency Fund: How Much is Enough?

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An emergency fund may help alleviate the stress associated with a financial crisis. February 11, 2019 Have you ever had one of those months? The water heater stops heating, the dishwasher stops washing, and your family ends up on a first-name basis with the nurse at urgent care. Then, as you’re driving to work, giving yourself your best, “You can make it!” pep talk, you see smoke seeping out from under your hood. Bad things happen to the best of us, and instead of conveniently spacing themselves out, they almost…

Certain Uncertainties in Retirement

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Two financial unknowns may erode our degree of confidence. February 11, 2019 The financial uncertainties we face in retirement may risk reducing our sense of confidence, potentially undermining our outlook during those years. Indeed, according to the 2018 Retirement Confidence Survey by the Employee Benefits Research Institute, only 17% of pre-retirees said they are “very confident” about having enough assets to live comfortably in retirement. In addition, just 32% of retirees were “very confident” in their prospects for doing so.1 Today, retirees face two overarching uncertainties. While each one can…

Retirement in Sight – February 2019

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY UPAL – February 2019 QUOTE OF THE MONTH “What I know for sure is that what you give comes back to you.” OPRAH WINFREY HOW CAN A WOMAN TRY TO PREVENT OUTLIVING HER MONEY? Certain financial decisions may help a woman grow and sustain her retirement assets across the decades to make up for time out of the workforce and the prevalent earnings gender gap. Obviously, one fundamental move would be to start saving and investing for retirement as early…