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

May/June 2021

Retirement: How Will You Know If You're Ready?

Retirement How Will You Know If Youre Ready

For older generations, choosing a date to retire was a lot less complicated. When you turned 65, you typcially said good-bye to your coworkers and left work behind. Today, many people stay in the workforce past age 65. If you're nearing retirement age, answering a few questions may ensure that you're adequately prepared for the future you want.


What's Your Timeline?
You may enjoy your job and want to keep working for several more years. Or you may want to retire early so you can travel or pursue hobbies or move closer to family or friends. Figuring out your timeline is the first step in preparing for retirement. Remember, though, that health issues, layoffs or inadequate savings may cause you to retire sooner or later than you planned.


What Will Your Budget Look Like?
Figuring out how much you'll spend during your retirement years can be challenging. Look at each item in your budget and estimate how much of your retirement income it will take. Some items, like commuting costs, probably won't appear in your retirement budget, but others, such as travel or hobbies, might take their place.


Where Will the Money Come From?
How much of your retirement income will come from Social Security, personal savings or a pension? The more income you have from these sources, the less you'll have to withdraw from your portfolio. If you plan to work after you retire, estimate the amount you can reasonably expect to earn.


What About Health Insurance?
If you're 65 or older, Medicare will be your primary health insurance once you're retired. However, you'll probably want to purchase a supplemental insurance policy to help with costs that Medicare doesn't cover, so include the monthly premium amount in your planning.


Have You Considered Taxes?
Remember that all investments aren't the same when it comes to taxes. Consider the tax treatment of your particular investments when you're estimating your expected income.


SUBSCRIBE

Enter your Name and Email address to get
the newsletter delivered to your inbox.

Please include name of person that directed you to my online newsletter so I can thank them personally.


CONTACT US

Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

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.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.