By MetroCreative

Retirement is an opportunity to wave goodbye to the daily grind. Retirees may focus on rest and relaxation, and many make travel a major component of their lifestyle.

According to a 2022 Gallup poll, Americans expect to retire at an average age of 66, up from 62 in 2022. However, most do not hold out that long; the average actual retirement age is 61.

Upon retiring, many retirees discover they sorely miss getting out of the house and being productive through some sort of employment. Others may find it necessary to supplement their retirement incomes. There are a few things to know about working during retirement, particularly if a person is collecting government benefits.

To read more, pick up a copy of the September/October issue of LiveIt magazine. To subscribe by mail, call 940-872-2076.

By MetroCreative

Consumers can never let their guard down when it comes to identity theft. Personal information is much more accessible in an increasingly digital world. Consequently, instances of identity theft and consumer fraud continue to grow.

· The Identity Theft Research Center (ITRC) reported a record number of data compromises in the United States in 2021, amounting to a 68 percent increase over 2020.

· The Federal Trade Commission’s Consumer Sentinel Network received more than 5.7 million reports of fraud and identity theft in 2021.

· In Canada, there are 12 victims of identity theft per every 100,000 residents and 52 victims of ID fraud.

· Many North Americans have been victims of COVID-19-related fraud, including scams involving fake testing, vaccines and treatments, and charities.

The FTC says identity theft is when someone uses your personal or financial information without your consent. Commonly stolen data includes addresses, credit card numbers, bank account information, Social Security numbers, or medical insurance numbers.

To read more, pick up a copy of the July/August issue of LiveIt Magazine. To subscribe call 940-872-5922.

By Brent Shaw, Modern Woodmen,
Fraternal Financial | [email protected]

Jean and Carrol’s retirement savings won’t run out tomorrow, but they worry that what they spend on leisure now will rob them of money they could need for essentials later. They aren’t wrong to be concerned about outliving their nest egg. Today’s retirees will live longer and spend more time in retirement than any other generation in American history.Today’s retirees are living longer and spending more than they’d expected. Half of all 65-year-olds will live beyond age 90, according to the LIMRA Secure Retirement Institute. Yet, less than a third consider longevity risk to their financial security or have estimated how long their assets will last in retirement. Taking the extra steps to plan how to spend your retirement is key to having enough to last.

Without a strategy to generate income, retirees risk outliving the money they’ve saved to maintain their lifestyles and financial independence. A single fixed annuity is one option for a more secure retirement. Using this as one tool in your toolbox, you can capture the security of a guaranteed interest rate and create a retirement “paycheck” for yourself.

To read more, pick up a copy of the March/April issue of LiveIt Magazine. To subscribe call 940-872-5922.