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Baby boomers entering their “second acts” should think about these matters.
Offered by T. Lloyd Worth, Worth Financial Partners

Retirement is undeniably a major life and financial transition. Even so, baby boomers can run the risk of growing nonchalant about some of the financial challenges that retirement poses, for not all are immediately obvious. In looking forward to their “second acts,” boomers may overlook a few matters that a thorough retirement strategy needs to address.

RMDs. The Internal Revenue Service directs seniors to withdraw money from qualified retirement accounts after age 70½. This class of accounts includes traditional IRAs and employer-sponsored retirement plans. These drawdowns are officially termed Required Minimum Distributions (RMDs).¹

Taxes. Speaking of RMDs, the income from an RMD is fully taxable and cannot be rolled over into a Roth IRA. The income is certainly a plus, but it may also send a retiree into a higher income tax bracket for the year.¹

Retirement does not necessarily imply reduced taxes. While people may earn less in retirement than they once did, many forms of income are taxable: RMDs; investment income and dividends; most pensions; even a portion of Social Security income depending on a taxpayer’s total income and filing status. And once a mortgage is paid off, a retiree loses the chance to take the significant mortgage interest deduction.²

Health care costs. Those who retire in reasonably good health may not be inclined to think about health care crises, but they could occur sooner rather than later – and they can be costly. As Forbes notes, five esteemed economists recently published a white paper called The Lifetime Medical Spending of Retirees; their analysis found that between age 70 and death, the average American senior pays $122,000 for medical care, much of it from personal savings. Five percent of this demographic contends with out-of-pocket medical bills exceeding $300,000. Medicines? The “donut hole” in Medicare still exists, and annually, there are retirees who pay thousands of dollars of their own money for needed drugs.³,⁴

Eldercare needs. Those who live longer or face health complications will probably need some long-term care. According to a study from the Department of Health and Human Services, the average American who turned 65 in 2015 could end up paying $138,000 in total long-term care costs. Long-term care insurance is expensive, though, and can be difficult to obtain.⁵

One other end-of-life expense many retirees overlook: funeral and burial costs. Pre-planning to address this expense may help surviving spouses and children.

Rising consumer prices. Since 1968, consumer inflation has averaged around 4% a year. Does that sound bearable? At a glance, maybe it does. Over time, however, 4% inflation can really do some damage to purchasing power. In 20 years, continued 4% inflation would make today’s dollar worth $0.46. Retirees would be wise to invest in a way that gives them the potential to keep up with increasing consumer costs.⁴

As part of your preparation for retirement, give these matters some thought. Enjoy the here and now, but recognize the potential for these factors to impact your financial future.

T. Lloyd Worth may be reached at (303) 558-0214 or email: Lloyd.Worth@LPL.com, www.WorthWealthManagement.com

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. 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 neither a solicitation nor 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.

Securities and Advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC (www.finra.org / www.sipc.org)

Citations.
¹ – thebalance.com/required-minimum-distributions-2388780 [6/3/18]
² – kiplinger.com/slideshow/taxes/T064-S003-how-10-types-of-retirement-income-get-taxed/index.html [3/27/18]
³ – forbes.com/sites/nextavenue/2018/06/28/the-truth-about-health-care-costs-in-retirement/ [6/28/18]
⁴ – mdmag.com/physicians-money-digest/practice-management/four-big-retirement-threats-and-how-to-protect-yourself [8/2/18]
⁵ – money.usnews.com/money/personal-finance/saving-and-budgeting/articles/2018-04-13/6-ways-to-pay-for-long-term-care-if-you-cant-afford-insurance [4/13/18]

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Worth Financial Partners

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Offered by Melissa Rippy, Allstate Rippy Insurance

When people inherit a lump sum of money, it can be a challenge to manage it well. Allstate listened to the needs of our clients and developed a unique and affordable product, just for this instance.

Allstate’s new Monthly Income Term life insurance pays your loved ones a check EVERY MONTH for 3, 5 or 10 years. Then you tell us if you want the policy for a term of 10 or 20 years. It also comes with an immediate payment of $10,000 or $25,000 for your loved ones to use as they see fit at the time of your passing. Our agency has already submitted a few applications to help local families ensure their families can continue on after they are gone. Call 303.219.1470 or email melissarippy@allstate.com with the following:

1. What is your date of birth?
2. How much you want your loved ones to receive each month?
3. How long do you want them to receive the monthly income?
(3, 5 or 10 years)
4. Do you want us to cover you for 10 years or 20 years on this policy?

As we are thinking of our families, be sure to stop by the Brighton Rec Center on Saturday October 27th, for the CAR-NIVAL Palooza! This safe event will host decorated cars passing out candy to children and will also collect canned food for those in our community. The Rippy Agency will be there as well, passing out FREE child ID kits. These include fingerprinting, a place for their photo and more. Stop by from 4:00 pm to 6:30 pm to join in on the fun!

Car-Nival Palooza

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Melissa Rippy, Rippy Insurance

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Offered by Michael A. Dolan – Dolan & Associates, P.C.

People often ask, “What is the best type of estate plan?” A Will or a living trust? In order to determine what is best in your situation, you should understand more about your options.

There are four core types of estate plans. The first is the government’s plan. If you do not take steps to put a plan in place, the government has a default plan for all of those procrastinators who do nothing. The state determines who receives your property, who will be your executor, and the court process that your heirs will go through after your death.

The second type of estate plan is a plan that uses beneficiary designations to transfer assets on your death. Placing beneficiary designations on your assets will direct those assets to your heirs after death. Unfortunately, some assets do not allow for beneficiary designations. Beneficiary designations also override the instructions you leave in a Will or a living trust.

The third type of estate plan is a plan that is designed to use the probate process. These plans use a Will to provide the instructions for the division of property. Many plans unintentionally end up in the probate process. The probate process can also be used to establish protections for minor and disabled beneficiaries.

The fourth type of estate plan is a properly implemented living trust plan. This type of plan is designed to avoid the probate process and allow your estate to be administered in a private manner without the involvement of the court.

You should consider when, how, and what you want to leave your heirs; the time, effort, and resources you are willing to devote to your plan during your life and the benefits and shortcomings of each type of plan. Then you can choose which of the four types of plans will work best for you.

If you would like to learn more about an alternative estate planning process that is producing great results for families, visit: www.EstatePlansThatWork.com to sign up for a complimentary educational workshop.

Click here to view Dolan & Associates on The Brighton Buzz Business Directory

Dolan & Associates | Estate Plans

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Offered by Brian Holley – Farmers Insurance

10 years have passed since the world was thrust into a global financial crisis, triggered by a housing and mortgage crisis, and ultimately affecting almost all Wall St. institutions, and all world markets.

The lessons from the financial crisis were painful and profound. And it still resonates—in our economy, our culture, even our politics.

As investors, the best and only things we can do is:

  • Stay diversified
  • Spend less than we make
  • Adjust our risk tolerance appropriately
  • Don’t believe anything that appears too good to be true.

Many Americans are facing a new crisis this past month, natural ones, not man-made. Hurricane Florence made its way toward the Eastern Seaboard. It’s important to protect yourself, your loved ones, and your possessions from natural disasters, no matter what part of the country you are in: these tips will get you started.

As you plan for the present, as well as count down the years to reaching your long-term goals, together we can ensure that your investments are positioned to help you reach your goals now and, in the future, and the future of your loved ones is secure.

Brian Holley - Farmers Insurance
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Farmers Insurance

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Offered by Jan Giuliano, – Universal Lending, The Giuliano Team

Hello October! Fall is here. Winter will follow shortly. In the meantime, it’s a good time to prepare for the weather that will be changing soon. Think safety. With daylight savings ending early next month, it’s a good time to prepare for darker nights and snow.

1. Prepare your car. It’s a good time for oil changes, tire rotations or replacement. Make sure you have reliable windshield wipers and battery. Keep some supplies handy like a shovel, blankets, flares, flashlight etc. Go online for tips from AAA Roadside Assistance for a complete inventory.

2. Prepare your house. Go through and do maintenance on your furnace, pipes, and hot water heater to make sure they are working correctly. Change batteries in flashlights, carbon Monoxide and fire alarms. Check fire extinguishers. Seal cracks and weather proof doors and windows.

3. Prepare your yard. Get rid of debris. Plan for winterizing hoses and garden water systems. Keep on top of leaves clearing them away from drains and water spouts and gutters. Make sure exterior lighting is working by replacing bulbs and cleaning the covers so the light shines brighter.

If you start now, you should be prepared for the winter when it does come, and it will. Preparing for a mortgage works the same way. A little preparation now will make the process so much easier. When you’re ready, call Frank and Jan at Universal Lending for questions and answers.

Call Frank and Jan at Universal Lending to answer your questions and concerns.

Cooler Weather
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The Giuliano Team

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Offered by Thollot Jewelers

On Wednesday October 24th, Thollot Diamonds and Fine Jewelry will be hosting a one-day LeVian Event. Join us for special offers and pricing from 10AM – 7 PM as we celebrate the exciting jewelry designs of LeVian. Those who RSVP to this event will receive 20% off their purchase! Attendees may also receive a free 3 ctw chocolate quartz stone and enjoy 0% interest on their purchases if paid in full within 12 months.

In addition to our special LeVian event, Thollot Diamonds and Fine Jewelry would like to invite you to participate in our gold buying plan. We pay top dollar for your gold, so you get the most return for your assets! Many gold buyers charge for gemstone removal, but when we purchase your gold, we will pull your gems and return them to you at no charge. Our expertise in the area of numismatics makes us a reliable place to check the value of your gold and silver coins. We allow you to trade old jewelry for new items and pay up to 20% above scrap price when jewelry is traded for a new piece or a repair. Our master jewelers can repair any jewelry you decide not to sell. We also offer appraisal and refurbish services for jewelry that you want to sell on eBay or Craig’s List.

Thollot - Gold Rush
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Thollot-Jewelry

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Offered by Brian Margolis, The Margolis Team

The Denver Post reported last month that we are at our highest level of housing inventory in 4 years! We have over 8400 homes for sale. That may sound like a lot, but is it? In 2011 there were over 30,000 homes on the market and getting financing was very difficult.

What can you do as a home owner who is thinking about selling do now? There are many things and these are the same basics as when there were 30,000 homes for sale. One is to price your home properly. You do this by interviewing a professional Realtor or two to help guide you by showing you Sold comparable homes and the average days on market. Another is to have your home in good showing condition and that starts with the curb appeal. For the inside, de-clutter your home, especially your master closet and kitchen area. There are many more things you can do. If you would like more free tips and information just call or email Brian. Brian and his friendly team will send you more free staging tips for your home.

Don’t be scared, Get smart and hire your local Professional Real Estate team located by the Brighton Post office and TBK parking lot, www.TheMargolisTeam.com or call Brian at: 720-791-5999

Margolis - Halloween

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Margolis Team

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Offered by Susan Kline

Susan KlineIsn’t it kind of amazing how one fruit has become the single defining graphic and flavor to announce the coming of this season? All you have to do is see a picture of pumpkins and you’re in the mood to cook, bake, and gather for fun as a family. As a tribute to our hero fruit and flavor, we’re listing a few facts about pumpkins to honor Fall’s defining symbol of Autumn celebration:

  • Pumpkin seeds are small but powerful. A whole huge pumpkin grows from just one tiny seed!
  • Pumpkin seeds are edible, though they are best when roasted first. They contain lots of nutritious vitamin A.
  • Pumpkin flowers are edible too!
  • 90 to 95% of the processed pumpkins in the United States are grown in Illinois.
  • It takes about 4 months for a pumpkin to grow to it’s full size. So plant your seeds by June if you want a pumpkin for Halloween.
  • Is a pumpkin a vegetable? No, it’s a fruit!
  • The world’s heaviest pumpkin weighed over 2,600 pounds! It was grown in Germany in 2016.

Brighton will have it’s annual Harvest Festival on October 27th from 12 to 4 p.m. There are scheduled to be over 100 vendors in attendance with candy and giveaways for families who attend. If you want to expand your horizons and meet a lot of people who are passionate about this area and its children, please take time between 12-4 p.m. on the 27th to attend this event. Your children will have great fun and can take home a treasure trove of candy and treats! Also directly following this event is the City’s Carnival Palooza at the Brighton Rec Center’s parking lot from 4-6:30. Don’t miss out on all of this October fun!

Happy Halloween from The Brighton Buzz
– Susan

October Buzz

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With Warm Cider Vinaigrette
Offered by: Foodnetwork.com

Fall weather is just around the corner! Why not add a delicious salad to your table that blends all the flavors and colors of late summer early fall! Enjoy as a delicious side to a main dish or simply by itself!

INGREDIENTS:

  • 1 1/2-pound butternut squash (1 squash), peeled and 3/4 in. diced
  • 1 tablespoon pure maple syrup
  • Kosher salt and freshly ground black pepper
  • 2 tablespoons cider vinegar
  • 4 ounces baby arugula, washed & dried
  • 1/2 cup walnuts halves, toasted
  • Good extra virgin olive oil
  • 3 tablespoons dried cranberries
  • 3/4 cup apple cider
  • 3 tablespoons dried cranberries
  • 2 tablespoons minced shallots
  • 2 teaspoons Dijon mustard
  • 3/4 cup freshly grated Parmesan

METHOD:
Preheat the oven to 400 degrees F.

Place the butternut squash on a sheet pan. Add 2 tablespoons olive oil, the maple syrup, 1 teaspoon salt and 1/2 teaspoon pepper and toss. Roast the squash for 15 to 20 minutes, turning once, until tender. Add the cranberries to the pan for the last 5 minutes.

While the squash is roasting, combine the apple cider, vinegar, and shallots in a small saucepan and bring to a boil over medium-high heat. Cook for 6 to 8 minutes, until the cider is reduced to about 1/4 cup. Off the heat, whisk in the mustard, 1/2 cup olive oil, 1 teaspoon salt, and 1/2 teaspoon of pepper.

Place the arugula in a large salad bowl and add the roasted squash mixture, the walnuts, and the grated Parmesan. Spoon just enough vinaigrette over the salad to moisten and toss well. Sprinkle with salt and pepper and serve immediately.

Squash Salad

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Offered by: John Wilson, B.S., BC-HIS, Blue Ribbon Hearing & Tinnitus Center

Blue RibbonDuring my sophomore year of college, I first heard the term GIGO in a computer information systems class. GIGO is an acronym that stands for Garbage In, Garbage Out. In computer processing terms it means that the collected data must be accurate and pertinent, or any calculations or decisions made will be worthless.

Years later as I learned that many of the early signs and symptoms Alzheimer’s and dementia are the same as hearing loss, I recalled the term GIGO. Many individuals with hearing loss do not know or do not believe they have a problem. Therefore, they are not aware when they mishear and their brain processes, interprets, and stores the misheard information as fact when it is not correct. This could be referred to as Garbage in. Incorrect hearing leads to confusion, miscommunication, and poor or incorrect decision making, or Garbage Out.

Regularly, I share the story of a patient whose vanity superseded her desire to get new hearing aids. After a significant amount of time passed, she came in with her daughter and requested new hearing aids. When I asked her why she changed her mind, she was too embarrassed to answer. Her daughter informed me that they had gone to an appointment and her mother agreed to have surgery that she did not actually want to have performed, because she did not accurately hear and understand what the doctor was telling her.

Mishearing matters for many reasons. Hearing correctly can improve communication, relationships, memory and decision making. Having a complete audiometric evaluation and getting help, such as hearing aids, are keys to ensuring correct information is being input into your brain.

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Blue Ribbon Hearing