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Living In Retirement

Invest in a Relationship

investment-2-Landing-Page-Image.jpgNow that you've retired, you know that retirement planning is an ongoing process. You've also learned that how you spend your money is just as important as how you saved it. As your own personal situation changes, your retirement needs will change too.

Here are a few key points to understand as your enjoy your retirement:

  • Reaching Retirement:Now What?
  • Common Factors Affecting Retirement Income
  • What Are Required Minimum Distributions (RMDs)?
  • The Basics of Medicare, Medigap, and Medcaid
  • Leaving a Legacy

Reaching Retirement: Now What?

You've worked hard your whole life, anticipating the day you could finally retire. Well, that day has arrived! And with it comes the realization that you'll need to carefully manage your assets so your retirement savings will last.

Common Factors Affecting Retirement Income

When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you'll have available to spend. If you don't consider how your retirement income can be impacted by investment risk, inflation risk, catastrophic illness or long-term care, and taxes, you may not be able to enjoy the retirement you envision.

What Are Required Minimum Distributions (RMDs)?

Required minimum distributions, often referred to as RMDs or minimum required distributions, are amounts that the federal government requires you to withdraw annually from traditional IRAs and employer-sponsored retirement plans after you reach age 70½ (or, in some cases, after you retire). You can always withdraw more than the minimum amount from your IRA or plan in any year, but if you withdraw less than the required minimum, you are subject to a federal penalty.

Basics of Medicare, Medigap, and Medcaid

Health care for the retired is available from many sources. Government programs (such as Medicaid and Medicare) offer numerous health care benefits. However, you may also find the need to purchase supplemental health insurance, or Medigap. Most Americans are eligible to begin receiving Medicare benefits at age 65, but qualifying for Medicaid may require some planning on your part. In addition to these resources, you may also be entitled to military health care benefits if you are a veteran, retired service member, or the spouse or widow of a veteran or retired service member. Retirement communities and nursing homes also offer health care services for older individuals. Depending on your specific needs and circumstances, you may use any number of these resources during your retirement years.

Leaving a Legacy

You've worked hard over the years to accumulate wealth and you probably find it comforting to know that after your death, the assets you leave behind will continue to be a source of support for your family, friends, and the causes important to you. Ensure your legacy reaches your heirs as you intend and make the proper arrangements now. There are four basic ways to leave a legacy: by will, by trust, by beneficiary designation, and by joint ownership arrangements.

Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFGIS Insurance Agency), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with the financial institution where investment services are offered. Investments are: *Not FDIC/NCUSIF insured *May lose value *Not financial institution guaranteed *Not a deposit *Not insured by any federal government agency. Advisory services may only be offered by Investment Adviser Representatives. Click here to view Cetera Investment Services Privacy Policy, other Important Information and Business Continuity Plan.

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