Michael A. Milazzo, CLU, ChFC

Registered Principal


The Meridian Financial Company

90 Lawrence Avenue, Suite 4, Smithtown, NY 11787


Phone:  631-979-4223

Fax: 631-656-8199 


Email: meridian@ae.cadaretgrant.com

Website: www.merfinco.com

May/June 2018

Four Retirement Saving Truths

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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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Michael A. Milazzo is a Registered Representative of and offers securities through Cadaret, Grant & Co, Inc, a member of FINRA and SIPC. The Meridian Financial Company and Cadaret, Grant are separate entities. I am registered to sell Securities in the following States: NY, PA, NC, FL, CO, ID.
The Meridian Financial Company and LTM Client Marketing, Inc. 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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