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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 2023
Living with Inflation: Tips for Retirees
Nearly everyone is affected when inflation rears its ugly head, but seniors living on fixed incomes may be in the group that’s hit the hardest. Because the purchasing power of the dollar has declined, people in or near retirement who’ve invested conservatively now have less money to spend. While no one can control inflation, there are steps seniors can take to help ensure they have enough money in the future.
Review Your Investments
Consider choosing investments that offer opportunities for income and growth with relatively low volatility. Dividend-paying stocks, bonds and real estate may help keep your portfolio on an even keel during inflationary times. Make sure you rebalance periodically to avoid having to take stock distributions during a down market.Consider an Annuity
Inflation-protected annuities* guarantee a rate of return at or above inflation based on an annual cost-of-living adjustment. Payments may be for a fixed period or over a lifetime. However, inflation-protected annuities may provide a lower payout than other annuities. Consult your financial professional about the fees, conditions and suitability of annuities for your situation.Assess Your Budget
Cutting back on spending is a sure way to put more cash in your coffers. Review subscription services, such as premium cable, streaming services, and phone plans, to find places to cut back.Delay Retirement
If you’re not yet retired, consider this: For every year that you wait to claim Social Security benefits, up to age 70, your benefit will increase by eight percent. Waiting to retire also gives you more time to contribute to your retirement plan.*Fixed annuity contracts guarantee a minimum credited interest. For immediate fixed annuity contracts, annuitants receive a fixed income stream based, in part, on the interest rate guarantee at the time of purchase. For fixed deferred annuity contracts, the insurer credits a fixed interest rate to contributions in the accumulation phase and pays a fixed income payment when annuitized. Annuity products are not FDIC-insured, and their guarantees are backed solely by the claims-paying ability of their issuing life insurance company.
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Investment advisory services are offered through Fusion Capital Management, an SEC Registered Investment Advisor. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the commission and does not mean that the advisor has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss.
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