Family Living Focus Bob Thee Lancaster County Retirement Planning: Top 10 List Of Things To Do Avoid the predicament of be ginning your retirement with big dreams, little savings, and no planning. Here are ten things you can do to help assure a suc cessful retirement. 1. Set goals. What changes will occur in your life after retire ment? Will you be moving to a smaller home or another state? Will you become a volunteer for various organizations? Will you take a part-time job or another full-time job doing what you’ve always wanted to do but couldn’t afford to because of the lower pay? Do you want to take classes just for the joy of learning? 2. Start early. It is never too early to begin saving for retire ment. By beginning your savings plan early, you take advantage of the benefit of compounding and \muwm w "If You CanU Find ItHerej You Won't Find It!" ★ FATHER'S DAY iT \ / honey pine / “ RECLINES special . BU !!S.g ED l Igml Was $249.88 [ I kttg $1039.95 I No* Only 1 I cash Price 1 $ i 79 04 1 I $440.06- 1 L Closeout $ 239 9 * MYSTIQUE CANOPY BED \ [V K Reg. Ret. $749.95 I LoCnJ XCash Price $429.95 I Closeout | $9995 j ( SECTIONAL SLEEPER N I—- Loveseat, i Center Console, ' Side by Side I ijl - Reclmers, Sofa . Factory Liquidation w/Hide-a-Bed Reg. Ret. $2,589.95 Special I Our Cash Price SA4ABB , LSI .289.95 / t *3 Z,Mi 4 DRAWER CHEST ' Pine Finish and Brass I Hardware . Reg. Ret. $149.95 1 OUR CASH PRICE I $69*6 WITH COUPON fe^|l #2 <39 04 SSEDROOM SET \ (Bleached Oak) Plus Chest . Ret With Jewelry Case Top 1 10 ' H 1% --a 1 oseout i 99” i CHROME Sr GLASS I_ rr | END TABLE SET I -SCs- gr-yWlth Glass Top I W W Wat 'r^SP 5 SPECIAL $49" SLEIGH BED . > MAHOGANY - FAIRFIELD BaJa Reg. Ret. $839.95 Our Price $529.95 L Special *329" FULL/QUEEN - Ralls eirtra_ Closeout ~|T growth of your investments mak ing it much easier to reach your retirement goals. 3. Make inventory of assets you already have that are avail able for retirement income. 4. Estimate retirement ex penses. Although one rule of thumb suggests you will need 70 to 80 percent of your pre-retire ment income, you may want to analyze current expenses to see which ones would continue to be the same and which would change, whether decreasing or increasing. Will the mortgage be paid off? Will you have time to travel or for hobbies that you did not have before? A good record of current expenses examined in dividually may result in the best estimate. But remember it is only an estimate. 5. Estimate retirement income. / 7 PC. DINING ROOM SET N I Oak Table w/6 Double Back Press ■ I Side Chairs / DINING ROOM SET " \ I Oak Table - 4 Armed Chairs | ; Reg. Retail $1,400.00 , Our Price $549.95' VsMr — tnl Special I lfe^CT $ 369 951 Contemporary rams n SOFA and LOVE i SEAT I - Assorted Colors «-<Z!3|i Reg. Ret. feSfi 1 Cash Price $799.95 t£ | . SPECIAL $ 649 95 / f RAISED ~ \ | PANEL BUNK BEDS _ _ I fjFL V- - 1 J Reg. Reg. . I ini -~2 $1069.95 1 ss Cash pr|c ® i I\ J j _ CIO! eout 5 249 9 ! GLASS TOP NIGHTSTAND • Special I j^^^g*39 95 1 The income you have available in retirement will depend on your current assets, how they grow, and the regular contributions to your retirement savings you make through the years. There are many calculators available on the web that will help you esti mate future income. One simple version is at www.asec.com, the American Savings Education Council. The web sites of popu lar financial magazines such as Money or Kiplinger’s Personal Finance and most mutual funds also have calculators. 6. Determine how to fill the gap. If you have a gap between what you will need as income and what you will have available, you will need to increase your contributions to your retirement account. The calculators can also help you set a target savings goal. 7. Make regular investments. Make savings a habit, not a once in-a-while or when you get around-to-it kind of thing. The best way is an automatic transfer to your retirement account whether it is through an employ er sponsored plan or an individu al retirement account (IRA). 8. Take advantage of tax de ferred retirement plans. Tax de ferred plans include those known as 401(k), 403(b), 457, SEP, and Keogh, as well as several others. Futon Closeout • In Black & White ■ • Comes w/ 8” Futon Mattress Reg. Retail $639.95 Cash Price $259.95 I 95 EXCEPTIONAL SECTIONAIa Reg. Retail Our Price SLEIGH BED HUDSON BAY HONEY PINE Reg. Ret. $669.95 Our Price $439.95 SPECIAL $229" „f ULI7KING - Rails extra CLi DEALER REFUSEDI SLEEPER Fire Retardant • ★ 704 COILS quilted \iXEa PILLOWTOP Reg. Ret. SPECIAL Double $749.99 $399.95 Queen $849.95 $499.95 Jting $1,099.95 $629.95 3019 Hempland Road, Lancaster 397-6241 Stores in; LANCASTER • YORK • CARUSLE (Closed Sun.) STORE HOURS: Mon.-Frl. 9-9 • Set. 9-6; Sundsy 12 to S PM • No Refunds «KBi •No Exchanges For purchases with a check, bring FINANCING mm • Cash A Carry drlvara license and phona numbers AVAILABLE Not responsible lor typographical snort Ws reserve Ihs rffiltoeubelrtuu gtfl Hems Y*. ss" $1,689.95 $699.9$ $ 599 95 Twin srinDLE BUPIK BEDS Reg. Reg. TTJ $629.95 ISa Cash Price $260.96. \cioseout s l49® ISE OUT! Their advantage is that the money goes in before being taxed. Neither the contribution nor the growth is taxed until it is withdrawn. Some employers have a matching plan where the employer matches a percentage of each additional dollar that an employee contributes to his or her retirement account. With a 25 percent matching plan, for ex ample, you get an immediate risk-free 25 percent return on your investment. If at all possible take full advantage of the em ployer’s matching plan. 9. Watch out for inflation. Being too cautious in investing for retirement can be as disas trous as taking too much risk. If you are not earning at a rate above inflation, you are losing ground each year. On the other hand, taking too much risk when Celebration of Quilts 2000 will present quilts made by members of the York Quitters and a sampling of 1,595 quilts included in the York County Quilt Documentation Project. Also featured is the 250th anniversary quilt made by Shelley Wilson and Carol Blevins and commis sioned by the York County commissioners. A vendor’s mall, silent auction, guild boutique, and raffle for the Flower Basket quilt pictured above. The show will be open June 24-25 at the York Expo Center, Carlisle Rd., York, from 10 a.m.-5 p.m. Admission is $5. Gowtown Rodeo ■ Cowtown , N.J. "Cow Capital of the First Frontier" Located on U.S. Route 40, eight miles east of the Delaware Memorial Bridge in Salem County MAY 27 THRU SEPTEMBER 30 Every Saturday Night ★ ★ 7:30 Rain or Shine Admission $lO Adults ★ ★ $5 Children 12 and under Free Parking ★ ★ ★Refreshment Stands Group Rates Available: Call 609-769-3200 Lancaster Farming, Saturday, June 17, 2000-B5 you are nearing the time you will need the funds can also lead to trouble. Investment strategies that may be low risk for the long term investor are high risk for the short-term investor. 10. Monitor investments but not every day. The market will go up and it will go down. To watch the market every day when you are investing for the long-term use unnecea^' >r v. But at least annually you should .re evaluate you investments. Are they doing what you want them to? Has your asset allocation shifted from your original goals? Read about and research you in vestments carefully. These ten steps will help as sure your retirement is not just a dream.
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