Saving For Retirement Can Start Now
Finally! U s time to retire. This Many businesses arc pushing the
is great news if your savings responsibility of saving and invest
ean live as long as you do. ing for retirement into the hands of
Unfortunately, even those who employees. In addition, the vast
have saved for this time may dis- majority of Americans today arc
cover their retirement funds will be exhibiting an alarming disregard
gone far before they arc. for tomorrow by refusing to save
The causes of this situation arc and invest in an aggressive manner,
many. The number of business Americans still dream of travcl
bankruptcics is threatening the via- ing during retirement or moving to
bility of private pension funds, a warmer climatc. In fact, 75% of
workers expect to live as well when
they retire as they do now. How
ever, only 25% have begun to seri
ously save for it.
Are people planning on inherit
ing a "large amount of money from
their parents? Americans over 5>()
have accumulated a net worth of
S6.8 trillion, but many of them will
spend what they've saved and more
on health care costs. The lucky
It's like a CD. with the competitive, guaranteed rates
you seek in a long-term savings plan. But it also offers
the key advantage of tax deferral. This powerful savings
plan is a new kind of tax-deferred annuity-and it's
available to you now through NationsBank
This tax-deferred annuity allows you to earn interest
on your principal, interest on your interest and interest
on the money you would have paid in taxes. That
means your money accumulates much faster in a tax
deferred annuity than it would in a taxable CD.
The Newest Thing
In CDs Isn't A CD.
Introducing Tax-Deferred Annuities
You can make this tax-deferred annuity part of your
savings plan with a minimum investment of $5,000. As
with many other long-term savings plans, surrender
charges apply to early withdrawal, and interest
withdrawals before age 59 1/2 will incur a 109r IRS
penalty.
To learn more about how this new tax-deferred
annuity can benefit you, talk to one of our licensed
representatives at the NationsBank Calabash or Holden
Beach banking centers. And give your savings an extra
boost.
Compare The Benefits:
Safety
Flexible Terms
Competitive Rates
Tax-Deferred
CD
Annuity
NationsBank
The Fbwer To Make A Difference.
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heirs who do inherit wealth might
spend it Tar before they retire. Hiis
nioncv may seem better suited to
raise their own families in style.
The age of retirement may well
expiie before today s 35- and 40
year-olds are old enough to enjoy
it. Baby-boomers will reach retire
ment with about half of what their
parents had. Active consumerism,
housing and education costs arc
eating up their funds. People seem
to think that someone else is saving
for their retirement. The fact is, if
they don't take the responsibility,
no one else will.
If the Social Security system sur
vives in its present fomi through
2010 and the nation's S3 trillion in
private and public pension plans
come through for future retirees,
many people will still fall short by
at least 25% of what they need to
maintain their lifestyle.
One way to pamper yourself dur
ing retirement is to do with less
during your early years. This is
hard for many young Americans
who don't want to feel bound in to
saving for retirement.
There arc two types of retirement
funds typically provided to workers
by large companies. The most com
mon is the defined benefit plan
which represents about Si.4 trillion
of pension assets and is offered b\
over 1(X),(XX) corporations. Workers
may or may not contribute, depend
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Hif, *'?? VJV V/ ? M*V ptUII. i 11^. >
arc guaranteed a monthly check or
lump-sum payment based on their
number of years on the job and
their final earnings. This usually
amounts to an annual income of
nearly half the final salary for life
time employees.
The other type of retirement fund
is the defined contribution plan, an
optional savings plan to which the
employee and the employer may
contribute to. The employee de
cides how to invest his portion of
the money. The retirement benefit
is not guaranteed but depends on
how wisely the worker invested.
It's up to each individual to plan
for their retirement. How do you
expect to live during those years?
The lifestyle you want to have will
greatly affect how much money
you should save before retirement.
No matter what lifestyle you
choose, it will probably require
more money than most of us imag
ine.
Books Offer Advice About
New Business Opportunities
As the age of retirement ap- Myers, has launched many success
proaches, older people have ful businesses himself. This hands
new choices to make. Some on experience helps others find
people find they're not ready to re- their way through die process, as he
tire. Instead of continuing at their verbally leads the beginner tlirough
old job, many arc looking to begin each step they might encounter,
a new career or even a new busi- Another choice is Start Your
ness. This can be a very positive Own Business After 50?60?or
step for people over 50. 70! (Bristol Publishing Enterprises.
There are two new books on die Inc., 1991). This book, by Laurane
market diat offer a positive outlook Snelling, is a leam-as-you-read
on the idea of re-careering instead book relating die experiences of
of retiring. Blueprint for Success: several older entrepreneurs as dicy
The Complete Guide to Starling a start their own businesses.
Business After 50 (Newcastle Both of diese books will provide
Publishing Company, Inc., 1991) enjoyable reading as well as the in
includes a variety of information on formation necessary to get out of
the subject. The author, Albert retirement and into a new career.
Brunswick I
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Call Rich Carcich 579-5626
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