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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

May/June 2018

Four Retirement Saving Truths

Four Retirement Saving Truths

With so much information floating around about retirement, it can be hard to separate fact from fiction. No matter where you are on your journey toward what you hope is a financially stable retirement, consider these four truths:

Social Security payments won’t make you rich.

Just because this government benefit comprises a major portion of retirees’ income doesn’t mean it’s a lot. In 2017, the average monthly benefit for retired workers was only $1,369.
Saving early is best.

Time and compounding potentially make a significant impact on Americans’ retirement income. Simply put, the earlier you begin and maintain a savings plan, the more you’ll potentially accumulate for retirement.
Living expenses may still be high.

When you stop working, related expenses will disappear. But other expenses, including vacations — because you have more time to take them — and medical expenses, may cost more than during your working years.
Uncertainty is certain.

Will taxes rise? How about the cost of Medicare and related medical expenses? Will you outlive your retirement income? These and other challenges can put a crimp in your retirement plans.
Prepare Now

What do you do? For starters, save early and save regularly. If you have access to a company 401(k) plan, contribute as much as the plan allows. If you can’t save the maximum, save anything, especially if your employer matches your contributions. If you don’t have a company plan or you want to contribute additional funds toward retirement, check out a traditional or Roth IRA.


As you near retirement, work to pay off as much debt as possible, especially high-interest credit cards. And work with a financial professional to prepare as best you can.


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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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