Beau Barrow  /  Glass City Federal Financial Solutions  /  1340 Arrowhead Dr, Maumee, OH 43537
419-887-1029
Beau Barrow
beau.barrow@securitiesamerica.com

Monthly News and Information for Current and Future Retirees
Presented by Bernard Barrow – FEBRuary 2019

QUOTE OF THE MONTH
 

“What I know for sure is that what you give comes back to you.”

OPRAH WINFREY

HOW CAN A WOMAN TRY to prevent outliving her money?

Certain financial decisions may help a woman grow and sustain her retirement assets across the decades to make up for time out of the workforce and the prevalent earnings gender gap. Obviously, one fundamental move would be to start saving and investing for retirement as early as possible – but other, sometimes underrecognized choices may also allow a woman to make more financial progress. 

For example, stay-at-home moms and caregivers who are joint filers can consider a spousal IRA strategy if they do not have earned income this year. They can ask their spouse to contribute up to $6,000 to their Roth or traditional IRA in their name in 2019 (up to $7,000 if they are 50 or older). This way, one spouse can make an IRA contribution on behalf of the spouse who is not working. (The working spouse’s 2019 income must be at least as much as the total IRA contributions made on behalf of both spouses.) Negotiating a higher salary becomes important, as more income should correlate to more retirement saving potential for a woman. Additionally, if a woman is retiring without a pension, but her spouse is, perhaps a survivor benefit could be arranged should her spouse pass away first.
1,2

TRAVEL Tip

Enjoy a pricy restaurant at lunch

One way to save money while sampling fine cuisine: eat lunch at a highly regarded eatery rather than dinner. You may end up with virtually the same menu items to choose from, served at about half the price they would be hours later.

FIGHTING FOOD INSECURITY 

Nearly 5 million American seniors cannot regularly go out and get the nutritious food they need to eat in order to stay active and healthy. This may have to do with a lack of money, a lack of access, or even, a lack of awareness. This problem is called “food insecurity,” and it is no small social issue. Nor is it one only poor seniors face. A report by nonprofit food bank network Feeding America estimates that 20% of older adults who are above the poverty line risk eating inadequately as well. 

If poverty alone caused food insecurity, a social remedy might be fairly simple. Other factors come into play, though: high health care costs that crimp senior household budgets, prioritizing caregiving duties at the expense of selfcare, and simple pride that makes older adults shun food assistance programs in their communities. As Next Avenue reports, only about 45% of seniors eligible for SNAP benefits choose to receive them. The U.S. Administration for Community Living and private-sector agencies have awarded several million in grants to nonprofits in urban centers and rural areas to address this problem. If you think a friend, neighbor, or loved one might be coping with food insecurity, contact the U.S. Administration on Aging’s Eldercare Locator at 800-677-1116.
3

DID YOU KNOW?
 

Cinemas once had a chapeau alert

Between the World Wars, many movie theatres had signs asking women to remove their hats during a screening. In that era, some women wore hats large enough to obstruct the view of other moviegoers. (For that matter, so did some men.)
4

ON THE
BRIGHT SIDE

Seventy-five percent of baby boomers polled for a new retirement preparedness study, conducted on behalf of
Retirement Living
, thought they would have enough money to live comfortably in their “second act” after their careers ended.
5

BRAIN TEASER
 

There is a nine-letter word starting with S and ending with G, and you can selectively remove one letter at a time from this word and still have a word in the English language, from nine letters right down to a single letter. What is this nine-letter word

?

STUMPED? CALL 419-887-1029 FOR THE ANSWER!

Bernard Barrow may be reached at 419-887-1029 or beau.barrow@securitiesamerica.com 
www.glasscityfcu.com

 

Securities offered through Securities America, Inc. Member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc. Glass City Federal Credit Union, Glass City Federal Financial Solutions, and Securities America are separate entities.
Not NCUA Insured – No Credit Union Guarantees – May Lose Value
Trading instructions sent via e-mail may not be honored. Please contact my office at [insert phone number] or Securities America, Inc. at [insert phone number] for all buy/sell orders. Please be advised that communications regarding trades in your account are for informational purposes only. You should continue to rely on confirmations and statements received from the custodian(s) of your assets. The text of this communication is confidential, and use by any person who is not the intended recipient is prohibited. Any person who receives this communication in error is requested to immediately destroy the text of this communication without copying or further dissemination. Your cooperation is appreciated.

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty.

CITATIONS.
1 – investopedia.com/terms/s/spousal-ira.asp [11/21/18]

2 – kiplinger.com/article/retirement/T047-C034-S002-retirement-tips-for-a-long-lifetime.html [1/31/19]

3 – nextavenue.org/older-americans-food-insecure/ [1/31/19]

4 – mentalfloss.com/amazingfactgenerator/554068/1920s-and-30s-many-movie-theaters-had-signs-instructing-ladies-please-remove-your-hats [1/9/19]

5 – planadviser.com/boomers-far-confident-retirement-gen-xers/ [1/23/19]

 

Securities offered through Securities America, Inc. Member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc. Glass City Federal Credit Union, Glass City Federal Financial Solutions, and Securities America are separate entities.
Not NCUA Insured – No Credit Union Guarantees – May Lose Value
Trading instructions sent via e-mail may not be honored. Please contact my office at [insert phone number] or Securities America, Inc. at [insert phone number] for all buy/sell orders. Please be advised that communications regarding trades in your account are for informational purposes only. You should continue to rely on confirmations and statements received from the custodian(s) of your assets. The text of this communication is confidential, and use by any person who is not the intended recipient is prohibited. Any person who receives this communication in error is requested to immediately destroy the text of this communication without copying or further dissemination. Your cooperation is appreciated.