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4 | february 06, 2014 - february 12, 2014
Smart Women Smart Money
NEXT WEEKEND!
By Emmy Hernandez Certified Financial Planner® Practitioner Attorney at Law
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Congratulate me Emmy. I’m finally retiring this year! I have been planning for this, however I’d like to hear your financial advice for this exciting milestone? Ah, retirement. It’s like graduation day for adults. Goodbye Tension - Hello Pension! If you haven’t already, take the time to envision what you’d like your retirement to look like. Encourage yourself to day dream, as many of your current habits and attitudes will inevitably change. For example, you may throw that pesky alarm clock right out the window. One significant financial difference could be that instead of saving and accumulating assets; you’ll find yourself withdrawing and spending them down. Examine your income sources during retirement and compare them to how much
money you’ll realistically need to meet your lifestyle expectations. It’s vital to accurately estimate how long your retirement nest egg might last. For most people, personal savings and investments will make up the bulk of their retirement resources. Various financial assets may need to be viewed differently. IRAs, employer plans and annuities, to name a few, each have different distribution rules and tax consequences. It’s important that you understand them well before deciding on a distribution plan. It’s best to identify which funds to spend first. A well thought out distribution plan must compare approaches and take into account their advantages and disadvantages. This will also help to determine when to start drawing on your Social Security and potentially increase the longevity of your assets. You might also consider reviewing your investment strategy. Before, your strategies were likely based on a long-term outlook. You might have been better able to absorb market fluctuations knowing that retirement was on a more distant horizon. Now, risk is probably less tolerable. Many people entering retirement reallocate their assets for greater stability, as opposed to growth potential.
Often, retirees find themselves in a lower tax bracket after they’ve stopped working. A welldeveloped tax perspective can impact your choices when planning for your retirement income distribution. Investing in tax exempt securities may lose some of their advantages when you’re no longer in a higher tax bracket. I always advise folks to prepare for the unexpected. This means to attempt to factor in future health care costs. For many, paying for medical expenses is a significant concern. It is essential that you recognize ahead of time any gaps you might have in your healthcare coverage, and devise a few options for filling in those grey areas. This is a bare-bones overview of what soon-tobe retirees will need to consider. If you’re interested in digging deeper into this topic, please join me for a retirement income workshop I’m hosting on Saturday, February 22nd at the Joslyn Center in Alhambra. This free community event begins at 10 am. Please call (626) 943-8833 to reserve your seats. Securities and advisory services offered through NATIONAL PLANNING CORP (NPC) member FINRA, SIPC, a Registered Investment Adviser. EH Financial Group, Inc. and NPC are separate entities and unrelated companies.
Suspect arrested after armed robbery at Arcadia ATM FEBRUARY nd
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Arcadia Police received a call of an armed robbery that had just occurred in the 1200 block of South Baldwin Avenue close to 8AM Wednesday. A witness to the crime reported that a male Hispanic in a hooded shirt, armed with a handgun, had just robbed a female of US currency who was conducting business at an ATM. In addition to describing the suspect, the witness gave a description of a white Ford truck, containing gardening equipment, the suspect was seen driving
away from the location of the armed robbery. Officers working in the area located a vehicle matching the description and conducted a traffic stop on the vehicle. The driver of the vehicle matched the description of the suspect and he was taken into custody. Officers conducting the investigation at the scene located US currency and a weapon matching the description given by the victim. The suspect has been identified as Peter Daniel
Ruiz, 47 years old, who resides in El Monte, California. Ruiz was booked for Armed Robbery at the Arcadia City Jail and is being held on $100,000.00 bail. The investigation is being conducted by Arcadia Police Department Officers and Detectives. Anyone with information is asked to call the Arcadia Police Department at (626) 574-5150. You can also submit crime tips and information via text, phone, or web to LA Regional Crime Stoppers, (800) 222-TIPS (8477).