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BUSINESS SPOTLIGHT
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Helping People
Plan for Retirement
for Over 20 Years
F
or more than 20 years, Brian Catale, founder
of Brian Catale and Associates, has been
telling clients that it’s never too late to plan for
retirement and helping them achieve their post-
retirement financial goals.
The opposite side of that advice —that it’s never too
early to plan for retirement—is also true, but a situation
Catale said he wishes he’d see more of with clients.
“When you start your first job, the idea is to open a
401k with the company you’re with. Our endgame is
always retirement,” he said. “But when you’re younger, you
don’t think of it as much and time is the biggest part of
retirement. When you have time on your side, your money
is going to duplicate. If you only have 10 years to prepare,
it’s a lot harder to save more money in a shorter period of
time.”
A lot of the shortfall that today’s retiring professionals
don’t plan on comes from exponential increases in medical
expenditures that they don’t anticipate, Catale said.
Combined with required minimum distributions from their
401k’s or other similar vehicles, seniors can easily price
themselves out of affordable Medicare tiers.
“A lot of people want to retire before 60. If they retire at
62, for example, they’re paying for insurance and Medicare
doesn’t kick in for another three more years,” he said. “When
it does, people find they need supplemental insurance
to meet their personal health costs. Then, after age 70½,
we start receiving required minimum distributions from
our 401k. This is why people need to have other sources of
income in place that’s tax free.” This causes our income and
tax increase and it may also increase our cost for Medicare.
Even families who think they are prepared for the
average retirement scenario—kids through college
and substantial savings in place—need to prepare for
the more common scenario of assisted living expenses.
Someone from Catale's firm is at Independent or Assisted
Living communities every day.
“Assisted living is one of the biggest topics we handle for
our clients for the past 15 years or so because we as a people
are living so much longer that the question has shifted from
being an ‘If?’ to a ‘When?,’” Catale said. “And if Mom or Dad has
to spend $120,000 a year for a nursing home, that savings
could be exhausted in 4-5 years. Where does that leave the
spouse who remains at home? We help many clients who are
looking at being out of money in 3-4 years because of age-
related expenses. Those costs only go up over time and long-
term care insurance companies have gone out of business left
and right through the years.”
For more information on Brian Catale and Associates, from retirement planning to estate planning, or veteran benefits go to
bcatale.com or operationveteranbenefits.com online. You can also call them directly to set up a consultation today
at 724.591.8479, or toll-free at 800.794.0929. Their offices are located at 910 Sheraton Drive, Suite 240, in Mars, 16046,
where they can be found from 9 a.m. to 5 p.m., Monday through Friday.
SEWICKLEY
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SPRING 2019
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