Lets Talk Money Online - When the road to retirement has detours

After the lackluster performance of stock mutual funds* during the last decade, some people may face a retirement that looks changed from what was originally envisioned. If retirement looks different to you today than it did a few years ago, a creative approach and a few adjustments may still help you reach your retirement goals.

With expected Social Security payments, 401(k) plan account balances, IRAs, individual investments and, if you're lucky, a traditional company pension, you might have retirement funds flowing from a handful of areas. Do you know how much?

With the help of your financial professional, add up your expected sources of income in retirement. Don't forget to also calculate your anticipated expenses and figure inflation increases and health care inflation into your equations. Now you have a better idea of the money coming in and going out when you eventually retire and a good idea of what you'll need to live comfortably.

If your expected expenses are more than your anticipated retirement income, one simple way to help make up the difference is to work past your original retirement date. You might continue to work full-time or semi-retire but take on a part-time or seasonal position. This can not only add to your income -- and retirement savings -- but also may reduce other costs if, for example, you continue to receive company paid health benefits.

If you don't want to keep working past a certain age, adjust your "wants." Wants are different than needs. You don't need that warm-weather condo and your main residence. Maybe cut out a vacation per year or keep your car longer. Where there's a will, there's a way to help meet your financial challenges in retirement.

* Because mutual fund values fluctuate, redeemed shares may be worth more or less than their original value. Past performance won't guarantee future results. An investment in mutual funds may result in the loss of principal. Mutual funds involve risk and are offered by prospectus only, which you can get from your registered representative. Carefully consider investment objectives, risks, charges and expenses of the investment company before investing. The prospectus will include this and other information; read it carefully before investing. Investing involves risks and there is no guarantee that any one strategy protects against a loss in a declining market. You should consult with your financial professional regarding your particular situation.

This is an advertisement prepared by LTM Publishing, Inc. for the use of the sender. The advertisement provided is not intended as legal or tax advice and may not be relied on for purposes of avoiding federal tax penalties. All individuals, including those involved in the estate planning process, are advised to meet with their tax and legal professionals. The individual sponsoring this newsletter will work with your tax and legal advisors to help select appropriate product solutions. We do not endorse or guarantee the content or services of any website mentioned in this newsletter. We encourage you to review the privacy policy of each website you visit. Limitations, restrictions and other rules and regulations apply to many of the financial and insurance products and concepts presented in this newsletter, and they may differ according to individual situations. The publisher does not assume liability for financial decisions based on the newsletter's contents. Great care has been taken to ensure the accuracy of the newsletter copy at press time; however, markets and tax information can change suddenly. Whole or partial reproduction of Let's Talk Money® without the written permission of the publisher is forbidden. ©LTM Publishing, Inc., 2010.

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