RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Fear of the Unknown: Tips for Retirement Savers

July 29, 2016 1:27 am


(Family Features)—Recently released data show half of Americans are afraid they’ll outlive their income. This finding, from the Indexed Annuity Leadership Council (IALC), signifies a fear of the unknown in retirement: life expectancy and healthcare expense.

“Americans are living longer than ever, so it's no surprise that the No. 1 retirement fear is that they'll run out of money in their final years,” says Jim Poolman, executive director of the IALC. “Thankfully, there are strategies and products out there that can help you create sufficient retirement income to last throughout your lifetime, which can help with this crippling fear.”

Poolman and the IALC recommend beginning with a retirement budget—one that factors in all estimated costs, and can be adjusted periodically based on circumstance. Market volatility and career changes both should play a role, as well. Poolman says pre-retirees with a budget in mind save up to three times more than those without a plan.

Work toward a balanced retirement portfolio, Poolman advises. This may mean investing in a fixed indexed annuity (FIA) in addition to a 401(k). FIAs are ideal for those nearing retirement, because they are low-risk.

Set up automatic transfers to your retirement savings account(s) to avoid spending the money unnecessarily. Treat your account as a debt you owe to yourself, Poolman suggests—in effect, you are “paying yourself” every month.

Pre-retirees should monitor their savings balances more often as they close in on retirement age. Generally, the older you are, the less risk you are able to tolerate, Poolman says, and your savings may not recover in time.

Pre-retirees might also benefit from the services of a retirement advisor, Poolman adds. Seek out a reputable professional to discuss investment options with you, as well as keep you on track toward your savings goals before and during retirement.

Source: Indexed Annuity Leadership Council (IALC)
 

Published with permission from RISMedia.


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Is Your Lawn Suffering Summer Burnout?

July 29, 2016 1:27 am


It happens every year: your lawn burns out, browning as it succumbs to summer heat. What’s a homeowner to do?

Lawn grass needs water to thrive—even cool season grasses that go dormant in hot weather, says Mike McGroarty of MikesBackyardNursery.com. If your lawn hasn’t received water due to a hot, dry spell, there’s a chance some areas of it may die.

Burned-out lawns can be revived with an overseeder, which is a machine that drops grass seed into pockets of soil. An overseeder can be rented at a home improvement store, such as Home Depot.

Apply weed killer before overseeding, McGroarty recommends—weeds tend to grow in areas damaged by drought.

Home Depot advises homeowners to remove damaged grasses and dead weeds, out to a six-inch radius beyond the patch, before overseeding. Home Depot also suggests turning the soil to a depth of six inches, removing rocks or roots that could inhibit new growth, and adding compost or manure to the turned soil—this step will fortify the foundation of the lawn.

For more tips on overseeding, visit blog.homedepot.com.
 

Published with permission from RISMedia.


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