Tom Meaglia photo

Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

January/February 2022

Your Retirement Countdown

Hour glass and calendar concept for time slipping away for important appointment date, schedule and deadline

You’ve saved for this day since you started working. Now, your retirement is around the corner. If you expect to leave the workforce in the next five years or so, planning will make for a smooth transition.


Check Your Account Balances
Ideally, you’ve been monitoring your investments to determine whether they’re performing the way you expected. If you’re falling short of your goals, work to make up the difference. At age 50 or older, you can begin making catch-up contributions to your account. Your financial professional can discuss other options for making up a shortfall.


How Much Will You Need?
You’ve already set a goal for your retirement savings. Estimate what your retirement expenses will be and create a spending plan that will cover the basics but still leave room for extras, like travel, hobbies and unexpected expenses. Keep in mind that some expenses you have while you’re working may be eliminated, or at least reduced, once you’re retired.


Retire Debt Free
Carrying too much debt can prevent you from enjoying your retirement years. Before you retire, come up with a plan to pay off your credit cards and personal loans and, if possible, your mortgage and home equity loans.


Social Security Options
You can begin taking Social Security benefits as early as age 62 or as late as age 70. The longer you wait, up to age 70, the larger your monthly benefit will be. However, there are several factors to consider, and your personal circumstances should guide your decision. Your financial professional can help you make the best choice.


Your Health Care
There are strict rules governing when you must sign up for Medicare and failing to follow them can result in stiff penalties. The coverage provided by Medicare is limited, so you’ll probably want a supplemental health insurance plan.


Your Lifestyle
What will your retirement lifestyle look like? Will you work part-time? Travel? Start a business? Do you want to downsize or relocate? Plan and budget for any changes before you retire.


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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