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.