It’s not as well-known as Halloween, but National
Retirement Security week happens every October – the third week, to be precise
— and while it doesn’t involve ghosts and goblins, it does deal with something
even more frightening: the risk of not being able to enjoy a comfortable
retirement. Through various events, this occasion highlights ideas about
building retirement security. What steps can you take?
Here are some suggestions:
• Don’t underestimate your longevity.
Consider this: 65-year-old men can expect to live another 20 years, while
65-year-old women can anticipate almost 22 more years, according to the Society
of Actuaries. And these figures are just averages, meaning you could well
exceed these ages, perhaps by many years. So, in thinking about how much money
you’ll need as a retiree, be aware that you could spend two, or even three,
decades in retirement.
• Don’t underestimate health care costs. When
you retire, some of your expenses — such as transportation, wardrobe and other
costs associated with your career — will drop. Others will not and may even
increase. Health care is a prime example: Many people assume that Medicare or
their Medicare Advantage plan will take care of virtually all their health care
costs in retirement, but that’s not the case. Generally speaking, you could
plan on spending $4,500 to $6,500 per year on health care costs during retirement,
excluding the large expenses connected with long-term care. Your actual costs
could be higher or lower, depending on your health, prescription drugs and
supplemental insurance coverage, but make sure you plan for sizable health care
costs in your projected retirement budget.
• Contribute as much as you can afford to your
retirement plans. Try to put in as much as you can afford to your 401(k) or
other employer-sponsored retirement plan and try to increase your contributions
whenever your salary goes up. You may also be eligible to contribute to a
traditional or Roth IRA, which offers tax benefits and a wide variety of
investment options. (Contributions to a Roth IRA may be limited based on your
income.)
Once you reach retirement, you can still make some
moves that could help boost your financial security:
• Maintain an appropriate investment mix.
When you retire, you might be tempted to shift most of your portfolio into
highly conservative investments to “lock in” gains and avoid being over-exposed
to market volatility that could cause short-term losses. Yet, even in
retirement, you should still own some growth-oriented investments that can
potentially help keep you ahead of inflation. In fact, it’s important to
periodically rebalance your investments back to your preferred mix to avoid
taking too much or too little risk, so you may want to consult with a financial
advisor.
• Identify a suitable withdrawal rate. You
don’t want to take out so much from your portfolio each year that you run the
risk of outliving your money. So, you’ll want to determine an annual withdrawal
rate that can reduce this danger. A common withdrawal rate to start retirement
is 4%, but your own rate should be based on several factors: your age, size of
portfolio, other sources of income and so on.
It can be challenging to make all the moves necessary to help achieve retirement security — but it’s worth the effort.
Chad Choate III, AAMS
828 3rd Avenue West
Bradenton, FL 34205
941-462-2445
This article was written by Edward Jones for use by your local
Edward Jones Financial Advisor.
Edward Jones, Member SIPC
Digital what? Footprint? You may be thinking thats what you leave behind at the beach. While that may be correct, it is also what you leave behind every time you provide your email, set up a new online account, or allow your data to be tracked. Your digital footprint is the trail you leave behind with Location services on your phone. It is the data you leave behind when commenting on Aunt Sallys Facebook page, sharing your familys vacation pictures on Instagram, or traipsing around the internet to various sites looking for that cute Lladro figurine your mother wanted for Christmas. All of it tells something about you whether you realized it was happening or not.Most of the time, the sharing of your data what you do, how you do it, etc. may not be a big deal. Or is it? The reality is that your data supports big business every day. It is collected, bought and sold (mostly without your knowledge) by data brokers (i.e., Acxiom, Epsilon), credit and identity bureaus (i.e., Experian, Equifax, TransUnion), and Big Tech Companies (i.e., Google, Amazon, Meta, Microsoft, Apple) that share your data with their partners and ad networks.The danger to you is when there is a data breach at one of the many sites that has your data and your data is captured and posted on the dark web. This enables nefarious characters to better target you for scams and potentially steal your identity. Call Lily in the Details today 941-237-0157 and schedule Understanding Your Digital Footprint, Navigating the Online World Safely and Wisely for your community.
By Dr. David RiceSouthwest Florida is home to more than 100,000 veterans, according to the U.S. Department of Veterans Affairs.They own homes, manage businesses and pay taxes here. They volunteer at local nonprofits and donate to local causes. They are the core of our community.Nearly every day, at least one veteran walks into Advocate Radiation Oncology for treatment. Cancer impacts people from every background, including veterans. Even the most hardened veterans struggle with a cancer diagnosis, which is understandable; no one is invincible and cancer generates a wave of emotions shock, anxiety, frustration, fear and stress.Over the years, veterans in Charlotte and Sarasota counties have found an ally inside the treatment room Dr. Brian Lawenda. A board-certified, Harvard-trained physician who completed medical school at Temple University, Lawenda has all the credentials to help a patient feel confident that they're in good hands, medically speaking. Then they find out something else about their physician. He is a veteran, too, having served this country 13 years with the U.S. Navy and attaining the rank of commander."When I enlisted, I took an oath to serve this country and uphold the U.S. Constitution," Lawenda said. "When I became a doctor, I pledged to dedicate my practice to patients and the community I serve, and it's especially gratifying when those patients are fellow veterans."The best doctors don't just treat symptoms; they connect with patients, usually through shared experiences they're from the same state, cheer for the same sports team or attended the same university. Lawenda's military experience helps create an instant doctor-patient bond that continues during treatment and beyond. In fact, Lawenda has become the region's go-to radiation oncologist for veterans, not just Navy veterans, but those who have admirably served across all six branches of the military."When he told me he served in the Navy, it gave me comfort," said Ret. Command Master Chief Scott Fusco, a North Port resident who recently completed prostate cancer treatments at Advocate. "I had absolute trust in him from that point on."Lawenda wasn't the only veteran on Fusco's care team, either. His urologist also served in the Navy and referred Fusco to Dr. Lawenda for treatment."We served at different times and places, but we're all part of the same team," Fusco said. "They've been there, done that, just like me. There is instant respect, instant trust."Lawenda, who sees patients at Advocate's cancer treatment centers in Port Charlotte and Venice, specializes in the treatment of prostate, lung, breast, head and neck, rectal, liver, bone, cervical and other types of cancers. Although Lawenda doesn't technically specialize in the treatment of veterans, he is especially proud to support patients like Fusco on their cancer journey."A veteran may retire or end their military service, but he or she will never stop serving this country and their community," Lawenda said. "Being able to help local veterans beat cancer is extremely gratifying and certainly rewarding. The military is a brotherhood and a sisterhood, and I'll continue fighting for my brothers and sisters."About the AuthorDr. David Rice is a board-certified radiation oncologist who sees patients through Advocate Radiation Oncologys cancer treatment centers in Port Charlotte and Venice. Visit AdvocateRO.com for more information.
Managing diabetes is more than watching your blood sugar. Its about staying active, maintaining your strength, and continuing to enjoy the activities you love.Diabetes affects millions of older adults and can have a significant impact on overall health, mobility, and independence. As we age, managing diabetes becomes especially important because it can increase the risk of falls, nerve damage, muscle weakness, and other health complications.The good news? With the right support, regular physical activity, and a personalized treatment plan, older adults living with diabetes can take meaningful steps toward better health and a more active lifestyle.Why Is Exercise So Important for Diabetes?When you have diabetes, your body has difficulty regulating blood sugar levels. Physical activity helps your muscles use glucose for energy, which can improve blood sugar control.Regular exercise can also help:Improve muscle strength: Maintain the strength needed for walking, climbing stairs, and completing everyday activities.Improve blood sugar management: Help your body use insulin more effectively.Support heart health: Improve circulation and help manage blood pressure.Improve balance: Reduce the risk of falls and injuries.Maintain independence: Make daily activities such as dressing, bathing, cooking, and shopping easier.Increase energy and confidence: Help you feel stronger and more comfortable staying active.Even small amounts of movement throughout the day can make a difference!How Can Physical and Occupational Therapy Help?For many older adults, beginning an exercise program can feel overwhelming, especially when dealing with joint pain, weakness, balance problems, or other medical conditions.Thats where FOX Rehabilitation can help.FOX provides personalized physical and occupational therapy designed to help older adults safely improve their mobility, strength, and ability to perform everyday activities.A physical therapist can evaluate your walking, balance, endurance, and muscle strength to develop an exercise program that meets your individual needs.An occupational therapist can help you find safer, easier ways to perform everyday tasks while improving your ability to remain independent at home.Together, these professionals can help address the physical challenges associated with diabetes, including decreased sensation in the feet, muscle weakness, and difficulty with balance.The Benefits Go Beyond Blood SugarResearch has shown that structured exercise programs can help people with Type 2 diabetes improve their blood sugar control, preserve muscle mass, and increase overall strength.Regular physical activity may also improve blood pressure and reduce the risk of certain diabetes-related complications.Most importantly, staying active can help older adults maintain the freedom to do what matters most whether thats spending time with grandchildren, enjoying a walk with friends, gardening, or simply moving safely around their homes.Therapy That Comes to You!One of the greatest benefits of FOX Rehabilitation is that therapy can take place right in the comfort of your own home.FOX provides physical, occupational, and speech therapy through Medicare Part B for eligible individuals.You do not have to be homebound or recently hospitalized to receive services.This means older adults who may benefit from skilled therapy can receive personalized care in their familiar surroundings without having to travel to an outpatient clinic.Take the First Step Toward Better HealthLiving with diabetes doesnt mean giving up the activities you enjoy. With proper management, regular movement, and professional guidance, you can continue building strength, improving mobility, and maintaining your independence.Before beginning a new exercise routine, speak with your healthcare provider, particularly if you have diabetes-related complications or take medications that can cause low blood sugar.Remember: Its never too late to get stronger, move better, and take control of your health!