Investing in Your Future

EDWARD JONES

Try to overcome “roadblocks” to a comfortable retirement

 In your life, you will want to take many journeys. Some are physical – perhaps you’ll finally visit the French Riviera or the Caribbean. Others involve personal growth – one day, you’ll finally become fluent in that foreign language you’ve been studying. But of all the destinations you can identify, few will be as important as retirement – specifically, a comfortable retirement. And that’s why it’s so important to consider the “roadblocks” you might encounter on your road to the retirement lifestyle you’ve envisioned.

Here are five of the most common obstacles:

Insufficient investments – Very few of us have ever reported investing “too much” for their retirement. But a great many people regret that they saved and invested too little. Don’t make that mistake. Contribute as much as you can afford to your 401(k) or other employer-sponsored retirement plan, and increase your contributions whenever your salary goes up. Even if you do participate in your retirement plan at work, you may also still be eligible to fund an IRA, so take advantage of that opportunity, too. And always look for other ways to cut expenses and direct this “found” money toward your retirement.

Underestimating your longevity – You can’t predict how long you’ll live, but you can make some reasonable guesses – and you might be surprised at your prospects. According to the Social Security Administration, men reaching age 65 today can expect to live, on average, until age 84.3, while women turning age 65 today can anticipate living, on average, until age 86.6. That’s a lot of years – and you’ll need to plan for them when you create long-term saving, investing and spending strategies.

Not establishing a suitable withdrawal rate – Once you are retired, you will likely need to start withdrawing money from your 401(k), IRA and other retirement accounts. It’s essential that you don’t withdraw too much each year – obviously, you don’t want to run the risk of outliving your resources. That’s why you need to establish an annual withdrawal rate that’s appropriate for your situation, incorporating variables such as your age, the value of your retirement accounts, your estimated lifestyle expenses, and so on. Calculating such a withdrawal rate can be challenging, so you may want to consult with a professional financial advisor.

Taking Social Security at the wrong time – You can start taking Social Security as early as age 62, but your checks will be bigger if you wait until your full retirement age, which will probably be 66 or 67, or when your payments “max out” at 70. You might not be able to afford to wait until then, but by postponing the date you begin taking withdrawals, you could help yourself considerably.

Ignoring inflation – It’s been low in recent years, but inflation hasn’t disappeared, and it could rise at exactly the wrong time – when you’re retired. That’s why you’ll want your portfolio to include some investments with the potential to outpace inflation, even during your retirement years.

By being aware of these roadblocks, and taking steps to overcome them, you can help smooth your journey toward retirement – and once you get there, you may enjoy it more.

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

Adult vaccinations

 Vaccinations are not just for children – did you know that adults need vaccines too? Many adults in the U.S. are not aware of vaccines recommended for them – and that means they are not taking advantage of the best protection available against a number of serious diseases.

There are many reasons to get vaccinated. Here are just a few: You may be at risk for serious diseases that could be prevented by vaccines, like influenza, pertussis, and shingles. You can reduce the chance that you’ll pass on a serious and contagious disease to your loved ones. You can’t afford to miss work! Vaccines can help you stay healthy so you have less chance of missing work days because of illness. You don’t want to pay the price of getting sick. The financial cost of medical visits or hospitalization is far greater than the cost of the vaccine. You don’t want to miss what’s important to you. Vaccines can help you stay healthy and enjoy the things you like to do. You want the peace of mind that comes with protecting your health. It’s important to stay up-to-date on your immunizations because no one can predict when disease will appear. You don’t want to feel crummy if you can prevent it! No one wants to feel sick. There are more than a dozen diseases that you can protect against simply by getting vaccinated.

Vaccines are available at your health care provider, the Berrien County Health Department, and some pharmacies. Take the next steps to protect your health and get vaccinated today.

To find out which vaccinations are recommended for adults, call the Berrien County Health Department at (269) 926-7121 or visit us online at www.bchdmi.org and Facebook at www.facebook.com/bchdmi.

Increasing transparency

 Transparency and accountability are important aspects of any successful endeavor, but are especially important goals for public servants. I have heard concerns from many of you about government not being as transparent and open as it should. As elected officials, we are stewards of your hard-earned tax dollars, and you have entrusted us to make decisions that affect your family and millions of other Michiganders across our great state. As such, it is incumbent upon us to provide you with as much information as possible so that you may hold public servants accountable for our actions.

My colleagues and I in the Michigan House of Representatives continue to believe very strongly in increasing government transparency. Last week Speaker of the House Tom Leonard (R-Dewitt) announced that salary information for every employee of the House, including legislators, would once again be readily available on the House’s website. In addition to salaries, the House also posts other operational expenses all of which can be found at www.house.mi.gov/financials.asp.

This is a good first step towards increasing transparency and accountability in the people’s House. I will continue to look for ways to make the Legislature and state government as a whole more open and accessible to all Michigan citizens. It is my belief that no citizen should have to wonder how their elected officials are spending their hard-earned tax dollars.

As always, please do not hesitate to contact me if I can ever be of assistance to you or your family, or if you have any ideas or comments you would like to share with me. You can reach me by phone at 517-373-0839 or via email at BethGriffin@house.mi.gov.

Use budget surplus for tax relief

 Michigan’s economy continues to recover and create jobs, and that is great news for all Southwest Michigan residents. As a result, our state is projected to have a budget surplus of more than $200 million.

State fiscal leaders and economists recently met for the annual January revenue estimating conference. For the current 2017 fiscal year, they forecasted that Michigan will have $206.2 million more in total revenue than previously expected.

Let’s not forget that the projected increase in state revenues is a direct result of Michigan’s economic growth and having state government live within its means.

An effective and limited government only takes what it needs to provide essential services to the people, while freeing up resources to help the people build businesses, create jobs and support their families.

We should use the projected surplus to provide income tax relief to Michigan families — not as a winning lottery ticket to fund more government.

It starts with keeping spending down. During my time as chair of the Senate subcommittee for the Corrections and Judiciary budgets, the Senate has passed $362 million in savings. By being fiscally responsible with taxpayer dollars, we can invest more in key priorities while also putting money back into the pocketbooks of Southwest Michigan taxpayers.

We have accomplished a tremendous amount to improve Michigan’s economy and the fiscal health of our state. While Michigan’s comeback is largely due to proactive reforms, credit must also be given to our hardworking families and small business owners.

They are the lifeblood of our state, and they have earned a break.

As always, I look forward to hearing your comments and feedback on the important issues facing Michigan. You can contact me at 517-373-6960.

Inauguration Day about more than pomp and circumstance

 While presidents change, Inauguration Day largely stays the same. Since George Washington’s ceremony on April 30, 1789, Inauguration Day is a time-tested tradition of the peaceful transfer of power here in America. I’ve been a witness to every presidential inauguration dating back to President Jimmy Carter and was greatly impressed after attending this inauguration.

More than 8,000 participants took part in the Inaugural Parade. High school and college bands, police drill teams, veteran’s groups, Boy Scouts and more all joined with each branch of our U.S. military. Our very own Mid America Cowgirls Rodeo Drill Team from Three Oaks was also there. But Inauguration Day is more than pomp and circumstance. It gives us an honest chance to reflect on where we stand as a nation and how we can make progress moving forward. And make no mistake: We must move forward.

As a community, state, and country, there is a no doubt that we face daunting challenges. Jobs, our economy, infrastructure, healthcare, manufacturing, and our national security are just some of the issues that dominate the discussions at work, in bars, and around kitchen tables across the entire country. There is no doubt that we have faced big obstacles in the past, and we have emerged stronger than before. But we can only accomplish these tasks when we work together… when we fix, not fight. When we raise our gaze to clearly accept and face the future.

Southwest Michigan is a diverse section of our state that stretches from the shores of Lake Michigan. We draw our strength from the variety of industries, climates, and people. Everyone here has something to offer. As your elected representative to Congress, I strive to always be open, transparent, and accountable to you. It is my job to represent each and every person here – not just patrons of one political party, but every single individual, family, and business. That includes the family in Portage saving up to send their oldest child to college in the fall, the small business owner in Benton Harbor looking to expand operations, and the retiree in Holland who depends on Medicare and Social Security for maintaining a decent lifestyle, and everyone in between.

In 2017, I vow to continue this same focus on building, supporting, and leading our Southwest Michigan community.

The Inauguration festivities ended with the National Prayer Service at the Washington National Cathedral on Saturday morning. After those last moments of quiet reflections, a new administration began and we face new challenges. By utilizing skills among our diverse populations and harnessing their strengths, we will come together to overcome the difficult tasks before us. I truly believe that when we work together, we can accomplish great things.

To learn more about this and other important legislative issues, please visit my website: upton.house.gov.