OPEN HOUSE AND RIBBON CUTTING CEREMONY
Providing sources of useful information and expertise to educate our community and connect people in need to available resources .
Should women think of Social Security benefits differently ? Women typically live longer than men , so waiting longer to claim Social Security benefits is one strategy that can help . If a single woman who instead of claiming benefits at 62 , waits until 70 , those extra eight years could increase her monthly benefit significantly .
Is waiting always the right answer ? Waiting longer can increase the amount you receive over your lifetime , but what ' s right for you may not be right for everyone . You ' ve got to consider your own health and family history , and how long people in your family tend to live . Contributed by : Ron Crist , Medicare Specialist , Hubbard-Bert , HUB
Your financial investments after you retire , and what you need to know .
One : Your financial investments do not need to get more conservative just because you ’ ve retired .
Many think they should get more conservative after retirement . This seems to be a financial given . But should you ? I plan for an average couple to enjoy 30 years of retirement . Is 30 years short-term ? No . Then you still need to be invested for the long-term . i . e . -as aggressively as you have always been . If you are comfortable with moderate aggressive investing now , then your long-term investments should stay moderately aggressive . You invest according to your tolerance for market fluctuation , not your age . That being said , if age ( or approaching retirement ) makes you newly skittish with market fluctuations , you may need to get more conservative . This investment adjustment will be made to eliminate possible behavioral errors in a down market , not simply because you got older .
Of course , not all of your investments are being saved for the long-term . You may now have a larger short-term investment bucket . For instance , you should keep the next two years of investment pay outs ( retirement salary ) in cash equivalents . This may mean moving a certain percentage of your portfolio to a more conservative cash position . Two : The financial investments you have accumulated for your retirement are not a piggy bank to raid .
When you retire , you will stop accumulating investments and start withdrawing from them . You need to think of your investment portfolio as a new income source , a “ money-making machine .” This machine is producing your new retirement salary . You and your advisor will come up with a prudent withdrawal percentage that is unique to you and your situation . This percentage will be chosen to allow your investments to provide you a new income for life . You should not take out a larger chunk of money from your portfolio for a vacation or an emergency . This will shrink your money-making machine .
How do you fund these large purchases ? By saving your new “ retirement salary ” just like you saved your salary when you were working . Contributed by : Beth A . Foyle , CRPC , Financial Advisor , Voussoir Financial Partners , Ameriprise Financial Services , LLC
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NEW NAME NEW LOOK SAME MISSION
OPEN HOUSE AND RIBBON CUTTING CEREMONY
Our popular thrift stores have a new name and fresh look . You are invited to our Erie City Mission Thrift Open House ! daily sales and giveaways all week refreshments during open houses stop by and see our expanded sales floor in Girard
Erie Store - Thursday , March 13 11 a . m . 2064 W . 16th St ., Erie
Girard Store - Friday , March 14 11 a . m . 10081 W . Ridge Rd ., Girard
MILLCREEK ❘ SPRING 2025 67