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Planning Pays in Retirement Special article brought to you by Modern Woodman Fraternal Financial

Personal savings are key to living comfortably Michael doesn’t see himself living on the beach when he retires, but he’d like to vacation there with his wife. He worries he isn’t saving enough in the 401(k) account he has at work, but he isn’t sure what more he can manage with two kids, a mortgage, and credit cards. Michael is like most Americans. He faces two dilemmas: 1. Saving enough money for a comfortable retirement. 2. Making those savings last his lifetime. Retirees today are spending more than they expected. The average Social Security benefit is less than $1,300 per month,* and it’s uncertain if it will be there for Michael when he retires. It has become rare for companies to fund traditional pensions for their employees, leaving retirees to rely on income from part-time jobs, personal savings, and taxadvantaged retirement savings, such as 401(k) plans and individual retirement accounts, called IRAs. A professional financial representative in your community can explain your retirement savings options in simple terms so you can decide what is the best option for you. Some options include: • Traditional and Roth IRAs, which offer potential income tax benefits while saving for retirement. • 401(k) and 403(b) plans, which allow contributions to be made directly from your paycheck and grow on a tax-deferred basis. Plus, many companies match your contributions up to a certain percentage. • Fixed annuities, which offer a guaranteed interest rate, taxdeferred growth, and a range of income options at retirement, including lifetime income you can’t outlive. • Variable annuities, which allow you to actively manage your investments and earn a return based on performance of the options selected. Saving for retirement doesn’t have to

be complicated or costly. A financial representative can help you determine how much money you’ll need in retirement and develop a plan to save. The key is to set goals and get started. The longer you wait to start saving, the more you will have to save to reach these goals. Let’s start the conversation.

*2014 OASDI Trustees Report Registered representative. Securities offered through MWA Financial Services Inc., a wholly owned subsidiary of Modern Woodmen of America. Member: FINRA, SIPC.

Many people have no financial plan for the future. Do you? Do you?

I can help you create a financial plan for life – protection, saving and retirement. Call me today. Let’s talk about your plan for life.

Jonathon Ostler, FIC 1981 S. Painter Lane #109 West Haven, UT 84401 801-745-7377 jonathon.ostler@mwarep.org

Market Downturn Creates Opportunity for Homeowners Special article brought to you by Econ Mortgage

Things have gotten crazy with the recent Coronavirus outbreak. Besides the obvious health concerns, the worldwide pandemic has had a farreaching impact across the economy. The stock market saw its worst drop since 1987, and many economists say we’re heading for a recession.

SILVER LINING On the bright side, the downturn has caused interest rates to drop even lower than the favorable rates we’ve seen the past couple years. The Federal Reserve rate dropped to nearly zero in March, leading to lower mortgage interest rates.

HOW LOW CAN IT GO? Interest rates are constantly fluctuating, and if they do go up from here, history has shown that they tend to inch up slowly over time. There’s not much room for interest rates to go lower than where they are now, though, so if you are in the market to refinance or buy a new home and can lock in a good interest rate, it’s a great time to do it.

SHOULD YOU REFINANCE? If you closed your loan within the past few years, or even months, you might still benefit from refinancing at these low rates. Work with a loan officer to get quotes and compare the figures with your current situation. Quotes are always free, and for a quote, you don’t even need to have your credit pulled. You might save a few hundred dollars a month and you can often skip a mortgage payment (sometimes two) when you refinance.

SHOP AROUND Some homeowners assume it doesn’t matter where you get your loan. They figure rates are the same from everyone, so they don’t shop around. That couldn’t be further from the truth. The smart way to get a loan is to work with a mortgage professional that takes a smaller piece of the pie, so they pass along more savings to you, the borrower. You can get quotes from more than one lender--in fact, shopping around is a great way to make sure you’re getting the best rate.

WHO IS ECON MORTGAGE? At Econ Mortgage, we keep our overhead low and use technology to streamline the mortgage process. We also make less profit on each loan, so we can pass the savings on to our clients. Our clients come back to us again and again because they know we’ll take care of them and will get them the best possible rate at a competitive price. Our headquarters are here in Syracuse, and we are home grown and love the community, but even more, we love helping our neighbors save money when they refinance or buy a new home. Call us at (385) 258-3588 or visit econmortgage.com to learn more or apply for a loan.

REFINANCE OR BUY A NEW HOME

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