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

July/August 2021

Income for a Comfortable Retirement

Hand writing home budget with calculator

A comfortable retirement isn’t just your favorite chair close to the fire and your slippers near by. A comfortable retirement means you have sufficient funds to pay your living expenses and still do the things you’ve dreamed of doing. Financial security and independence are key when it comes to a happy retirement. That’s why having a plan for generating income can help you work toward achieving your goal.


Count Your Income Sources
You’ve probably been saving for retirement for a long time, so you may have money in a variety of savings vehicles — a 401(k) plan, traditional and/or Roth individual retirement account and other investments. Maybe you have a pension. And you’ll probably receive Social Security benefits. Creating an income stream from these sources will help cover your expenses during a retirement that could last 20 or 30 years or longer.


The Three-basket Plan
Dividing your savings into three different “baskets” based on how soon you’ll need the money may prevent you from having to sell investments when the markets are down. Basket number one includes the cash you’ll need in the next year or so. Look for a high-yield savings vehicle so you can access the money without penalty.


The second basket should hold fixed-income investments that offer some growth potential. Use these funds to replenish the first basket as you spend down your cash.


The third basket can hold investments with the potential for growth, such as equities, that you won’t need for several years. You may want to sell investments periodically to add to your second basket.

Delay Starting Social Security
You can maximize the amount you receive from Social Security each month by waiting beyond your full retirement age to claim benefits. Your benefit amount increases for every year that you don’t collect benefits, up to age 70.

Remember that you have to pay income tax on withdrawals from any tax-deferred investments—such as traditional IRAs, 401(k)s, 403(b)s and tax-deferred annuities—in the year you take the money. Of course, this will reduce the amount you have to spend.


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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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