In The News
September 19, 2018 - Boyne area high school sports
September 19, 2018 - Waterpaw wins Aquascape Conservationist Award
September 19, 2018 - LETTERS – Devastation at Camp Sea-Gull?
September 19, 2018 - Celebrate the life of Boyne City’s Roni Fish
September 19, 2018 - Boyne City Commission meeting highlights
September 19, 2018 - Study says Medicaid expansion boosted financial health of low-income Michiganders
September 18, 2018 - #473 Boyne City Gazette Sept. 19
September 17, 2018 - Boyne police investigating church graffiti
September 17, 2018 - Gov. Snyder says foreign investment key to Michigan success
September 17, 2018 - Healthy Michigan waiver hoped to protect local healthcare
September 16, 2018 - U.S. Senate passes bill to update Great Lakes Environmental Sensitivity Index Maps
September 16, 2018 - Michigan Supreme Court October oral arguments
September 13, 2018 - Grant supports mental health tech in Michigan
September 12, 2018 - Michigan’s new way to explore 545,000 career openings
September 12, 2018 - Steps to safeguard your property during Boyne City sewer cleaning project
September 12, 2018 - UPDATE: Boyne water main still under repair
September 12, 2018 - Boyne woman part of ArtPrize; day trip planned to Grand Rapids
September 12, 2018 - Boyne City goals, parking, statue discussed
September 12, 2018 - Michigan’s new anti-fraud unit in Dept. of Insurance and Financial Services
September 12, 2018 - Cole lauds Boyne on being named Great American Main Street semifinalist

Which Moves to Make

This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

We all want to enjoy a comfortable retirement. But to do so, we need to make different moves, and consider different issues, at different times of our lives. 
 To help illustrate this point, let’s look at three individuals: Alice, who is just starting her career; Bob, who is nearing retirement; and Charlie, who has recently retired.

Let’s start with Alice. As a young worker, Alice most likely has four decades ahead of her until she retires. Yet she realizes that it’s never too soon to start saving for retirement, so she has already begun contributing to her 401(k) and to an IRA. And since she has so much time ahead of her, she has decided to invest aggressively, putting much of her contributions in growth-oriented vehicles. The market will certainly have its “dips” in the future, and Alice’s account values could rise and fall from year to year, but the longer she holds her investments, the less of an impact that market extremes should have on her 401(k), IRA and other accounts. 

Now let’s turn our attention to Bob. Since he is within a few years of retirement, he has some key decisions to make. For one thing, he must decide if it’s time to change the investment mix in his IRA, 401(k) and other accounts. Because Bob doesn’t have much time to overcome market volatility, and since he’d like to maintain the gains he has already achieved, he may decide to become more conservative with his investments. Consequently, he may choose to move some of his investment dollars from stocks to bonds and other fixed-income securities. Realizing, however, that he may spend two or three decades in retirement, and knowing that he will need to stay ahead of inflation, he doesn’t abandon all his growth-oriented investments. Furthermore, Bob decides that he may need to bolster his retirement income, so he considers whether an annuity, which is designed to provide him with an income stream he can’t outlive, is appropriate for his situation.

Our final “life stages” investor is Charlie. He has recently retired, so his biggest concern is making sure he doesn’t outlive his financial resources. Therefore, he may need to consider a variety of moves. For starters, he should determine when to start taking Social Security and when to begin taking withdrawals from his IRA and 401(k) plans. [For a traditional IRA and a 401(k) or other employer-sponsored plan, Charlie, like all investors, must start taking withdrawals no later than age 70½.] After deciding when to start taking withdrawals from his retirement plans, he’ll also need to calculate how much he can afford to take each year without emptying the accounts. Finally, he might need to rebalance his overall investment portfolio to provide himself with more income.

For help in making the types of choices described above, you may want to work with a financial professional, but in any case, you need to be prepared to take the right steps, at the right times, to enjoy the retirement lifestyle you’ve envisioned.

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