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PLANNING CONCERNS OF MOST AMERICANS
The solvency of Social Security and Medicare
A decline in income upon leaving the work force
Uncertainity about outliving their income and resources
Uncertainity of medical/health care issues
Loss of a spouse/child/or loved one
Heavy reliance on Fixed Income
New financial decisions
Greater susceptibility to fraud
Special tax laws for seniors
High health care expenses (Home health care,
Assisted living,alternate care, or nursing home care
A DOZEN COMMON FINANCIAL ERRORS
Changing asset allocation strategy abruptly
Not setting and monitoring financial goals
Ignoring the effects of inflation
Relying too much on others
Failure to have a financial or estate plan
Taking inappropriate investment risks
Not considering taxes when investing
Failure to review insurance plans
Delayed use of the capital gains exemption
Shortchanging oneself to leave an inheritance
Not discussing financial issues with loved ones
Not following IRS rules on retirement plan withdrawals
TWENTY FINANCIAL PLANNING RECOMMENDATIONS:
Go for growth based on your risk tolerence
Consider CD alternatives
Develop an "investor`s mindset"
Increase your financial knowledge
Look at longevity concerns
Stagger or ladder maturity dates on savings or investments
Reduce taxable income
Reduce capital gains
Double check minimum distribution requirements on IRAs
Make tax adjustments
Make health care decisions - home health care,
assisted living, alternate care or nursing home care
decisions
Maintain good record keeping
Review pension distribution options
Explore all options
Set new financial goals
Plan around Social Security Earning limits
Review your estate documents
Stay Informed
Know where to call for help