AUSTIN TEXAS | VOL. 1
INSIDE THIS ISSUE: FEATURED ARTICLES
RETIREMENT • INVESTING • VACATION
RECOMMENDED SERVICE DIRECTORY
TRAVEL • LIVING • HEALTH • DINING
READ THIS ISSUE ONLINE. SCAN THE QR CODE
CO NTE NT S FEATURES 2
Investing For The Future
6
Destination Vacations
8
Luxury Living
12
Senior Living
14
Local Event Guide
8
24
22 Travel In Style 24 Saving For Retirement 28
Recommended Service Directory
• Promote your brand • Earn new clients • Grow your business www.The55Guide.com
1
AUSTIN | TEX AS | VOL . 1
INVESTING FOR THE FUTURE Not many people stumble into financial security through sheer luck: a lottery win, big inheritance, or huge stock winnings. For most of us the only way to financial security is a long term plan of saving and investing. Consistency is key to reaching long term goals no matter your income. The sooner you start saving and investing, the longer your money has to compound and grow. Set goals for how much of your income you will invest monthly and stick to it. Keep investment money and cash reserves separate so you won’t dip into your investment account when the market is down. Keep expenses low and spend on what is really important to you whether it is experiences or material things. Try to avoid the big mistakes, like buying a home that is more than you really need or creating a heavy debt load. If your employer offers a matching 401(k) contribution, be sure to take advantage of that option and contribute at least enough to receive it. It is essentially 2
extra income that will grow and compound and is not taxed until you withdraw it. You can do it yourself but it probably makes more sense to work with a financial advisor who is more knowledgeable about financial markets. An advisor will help analyze short term vs long term needs, separate emotions from objectives as well as help with devising a portfolio and strategy suitable for your needs. Investing consistently over the long term is the best way to grow your wealth as there is no way to time the market.
3
4
AUSTIN | TEX AS | VOL . 1
TRENDING LOCATIONS TO VISIT THIS YEAR
Destination
Vacations
If you are looking for an exciting and affordable travel destination, consider the following locations. 1. Hawaii is a tropical paradise loved by all. It offers a rich marine life, unmatched underwater experiences, gorgeous landscapes, volcanoes, and interesting history. Of the six largest islands, Maui has the state’s most beautiful beaches - some with white sand and others with red or black sand. Oahu has Hawaii’s largest city and capital, Honolulu, which is known for Waikiki Beach and Pearl Harbor’s World War II memorials. The weather is perfect and there are endless opportunities for adventure. 2. Barcelona is both a beautiful city as well as a renowned beach town. It boasts a lively nightlife, lots of activities, and restaurants galore. There are amazing museums and galleries; Including the Picasso and Salvador Dali Museums, La Sagrada Familia, and other buildings by renowned architect Antoni Gaudi. Las Ramblas, the main walking street ends with a monument to Christopher Columbus honoring his discovery of the new world. 3. The Bahamas, which is made up of a series of islands, has the clearest turquoise water on the planet, as well as white sandy beaches.
6
AUSTIN | TEX AS | VOL . 1
Underwater adventures abound dive for Spanish galleons, seek out the caves, or go sailing or fishing. The Bahamas offers a plethora of Ecotourism options, from bird watching to hiking. Nassau offers a few cultural sites like Ardastra Gardens and the Conservation center, in addition to being the capital city, but the Bahamas is great for island hopping as well. Or just pick one of the great resorts and relax at the beach.
History abounds and there are interesting museums including the Tel Aviv Museum and the Eretz Israel Museum which covers archeology, folklore, crafts and features an onsite excavation of 12th century-BC ruins. Tel Aviv is also the technology and financial center of Israel.
4. Tel Aviv, known as the non-stop city, is a vibrant and exciting city on the Mediterranean Sea. It offers beautiful beaches, great cafes and restaurants, exciting night life and a 24 hour a day culture.
7
AUSTIN | TEX AS | VOL . 1
LUXURY
LIVING IDEAS
Upgrading your home is only limited by your imagination and budget. Is it a luxury bath, fabulous kitchen, incredible master suite or home theatre that you desire?
KITCHEN Your kitchen is probably the heart of your home. This is where memories are made and shared as families love to congregate in the kitchen. The possibilities are endless. White is the most popular color for cabinetry but combining cabinet colors is the latest trend in kitchen design. Blues and greens are also becoming popular. Quartz is the latest for countertops and islands. Commercial-grade appliances, extra sinks and dishwashers all add to the luxury kitchen. Also popular are pizza ovens, appliance garages, warming drawers and under- counter refrigerators for wine and other drinks. If you have space, consider a butler’s pantry which acts like a second kitchen - great for caterers or just an extra space for food prep without disturbing the main kitchen area.
BATH For a luxurious bath, create a spa-worthy retreat. Consider heated floors and towel racks, a steam shower and a large soaking tub. Create a separate water closet for the latest in remote controlled toilets that feature a night light, bidet and self cleaning feature. Turn a great piece of furniture into your double sink vanity for a sophisticated look. And why not have a sofa and television for added ambiance.
(...continued on page 10)
8
9
AUSTIN | TEX AS | VOL . 1
MASTER SUITE Add a mini-kitchen which includes a small fridge and coffee bar along with a sitting area so that you can enjoy your wine or coffee first thing in the morning or at the end of the day. Fireplaces are another nice touch for a romantic setting. If your home is equipped with gas, they are an easy addition.
LUXURY
LIVING IDEAS
MOVIE ROOM If you have a spare room, create your own private theatre with a high-definition flat screen tv, surround sound and theatre seating. A popcorn machine and fridge for drinks are nice additions. 10
g n i v i L r o i n e S
AUSTIN | TEX AS | VOL . 1
RETIRE WITHOUT CHANGING YOUR LIFESTYLE
Today’s upscale senior communities offer “resort style living” which is hospitality-oriented and resembles a 4-star hotel or cruise ship rather than a hospital or retirement home. Amenities Some of the more luxurious communities at the deluxe level even feature lively bars with chandeliers and overstuffed pillows. More standard amenities include:
Activities: Education and Entertainment, Fashion shows, Lectures from retired professors and various social and cultural events which are all examples of regularly planned activities for residents at higher-end facilities. In urban settings, planned outings to the city for museums, art galleries or theater visits are frequent occurrences as well. Grounds-keeping: Luxury communities are beautifully designed on the outside as well, from gardens to ponds to putting greens and walkways. Many include well-appointed courtyards for residents to socialize, relax, or enjoy a meal. Concierge Service: Offering ‘Concierge Service’ is what makes a Senior Living community a Luxury one. Similar to a hotel concierge, a resident can use the Concierge to arrange hotel flights or tickets to events, a service that makes these luxury communities clearly more desirable to prospective residents and their families. 12
Modern Therapies: Assisted living communities offer personal care to their residents, and the best communities often offer top notch therapy on top of standard care. In addition to specialized pet and physical therapy, upscale communities often also provide top notch occupational therapy, and music therapy, and always from trained and certified professionals. Residences: The kitchen is the focal point of any home and it’s no different when looking at the residence at an Assisted Living community. A standard assisted living apartment has a kitchenette, traditionally including a mini-fridge, a microwave, and a small amount of cabinet and counter space. The luxury assisted living residences feature full kitchens and appliances plus top of the line finishes, like granite counter tops for instance.
AUSTIN | TEX AS | VOL . 1
Dining: An upscale senior living community will most likely retain a registered dietitian on staff and employ experienced chefs who serve gourmet meals. Choice and variety are crucial for the success of a kitchen at a luxurious community and most have more than two restaurants within the community, each with their own menus. Personal Fitness Trainers and Recreational Facilities: Recreation rooms are always available to use at the residents’ convenience, with computer labs, fitness rooms and cinemas. Fitness programs supervised by physical therapists and personal trainers are also kept on staff by any upscale community. High-end assisted living communities also provide full service spa treatments, beauty salons for the women and barbershops for the men. Additionally, no luxury assisted living community would be complete without a heated pool and spa, which are always popular with residents.
more luxury communities are open to allowing residents to have their pets on site. There can sometimes be limitations regarding the size and number of pets. They frequently provide pet care such as dog walking, nail clipping, grooming and litter-box changes as well as formal, certified pet therapy. Spacious Apartments: One can expect about 20% more square footage at a Luxury community (approx 600 sf versus 500 sf at a standard community). A Two bedroom apartment at an upscale community can be more than 1200 square feet. Clearly, senior living is not what it was years ago. And for the retiree with means, it can be a lively, active, and rewarding lifestyle full of growth and fun!
Pet Friendly: Studies have shown that pet ownership has been shown to be beneficial to seniors, and more and 13
LOCAL EVENTS GUIDE
AUSTIN AUGUST
AUG 16-17 | Annual Beer by the Bay Music Fest The Annual Beer by the Bay Music Festival returns featuring some of the best Texas Country Artists to ever take the stage! Two-time Grammy Award winner LeAnn Rimes and Texas Troubadour Roger Creager headline this two-night event. Each nightly admission includes unlimited craft beer tastings and culinary offerings from our award-winning culinary team. For more information please visit: http://bit.ly/aus-aug16 AUG 23 | Hill Country Sunset Harvest Bring the family out for a fun-filled evening of picking and stomping the very grapes that go into making Messina Hof’s award-winning Port. Stay for the Hill Country Big Kahuna Contest, barrel tasting and special Harvest dinner. You’ll also receive a souvenir “Harvest Crew” t-shirt signed with your very own purple stomping feet. We can’t wait to share this winemaking experience with you! For more information visit: http://bit.ly/aus-aug23
SEPTEMBER
SEPT 7 | ATX Baconfest! a celebration of all things bacon in Austin. Right in time for back to 14
school, this event happens on Saturday, September 7th and Sunday, September 8th at the legendary Palm Door on 6th. It’s going to be an event not to miss. You know you want to be there, otherwise, you’ll just go bacon our hearts… Buy your tickets now because these tickets are not going to last forever in the frying pan! For more info visit: http://bit.ly/aus-sept7 SEPT 21-22 | Fall Pecan Street Festival The Pecan Street Festival is a free, bi-annual juried music, arts and crafts festival held on historic Sixth Street. The show proudly features over 300 artisan vendors from all over the world who display and sell homemade art and craft work. For more information please visit: http://bit.ly/aus-pecan SEPT 28 | Austin Oktoberfest 2019 Dust off those Lederhosen & Dirndls! On Saturday, September 28th, 2019 the Austin Saengerrunde will open its doors to the 7th Annual AustOberfest (Austin + Oktoberfest) celebrating Central Texas German heritage with German-style sausage, lots of bier, contest stage, bowling and live music. Foodways Texas and the Austin Saengerrunde are focused on our main mission: To preserve Texas
LOCAL EVENTS GUIDE
AUSTIN foodways, history and the legacy of our vendors! For more info visit: http://bit.ly/aus-sept28
OCTOBER
OCT 19 | Food Truck Taste-Off The Austin American Statesman property is featuring a 1-day Tastea-thon & Food Truck Festival - rain or shine. To partake come on by or sign up for your judges tasting band. Sign up fast, as only 1,000 judges will be offered to sample any of the many choices available and cast a vote for your favorite. Don’t feel like being a judge? You may also attend and partake in the festivities with general admission. For more information please visit: http://bit.ly/aus-oct19 OCT 26 | Viva La Vida Festival & Parade Hosted by the Mexic-Arte Museum, Viva La Vida is Austin’s largest and longest-running Día de los Muertos (Day of the Dead) festival, and one of the few in the country with a parade.The festival features a Grand Procession, hands-on art activities and artist demos, and a celebration with traditional foods, local artist and retail booths, a low-rider exhibition, live music and performances throughout the day. For more info visit: http://bit.ly/aus-oct26
OCT 26-27 | Texas Book Festival Join us for the 24th annual Texas Book Festival, a weekend of book talks, signings, family activities, live music and more, held in and around the Texas State Capitol in downtown Austin. The Festival Weekend is free and open to the public! For more information visit: http://bit.ly/aus-oct27
NOVEMBER
NOV 2-3 | 29th Annual Fossil Fest The Paleontological Society of Austin presents the 29th Annual Fossil Fest at Old Settlers Association, 3300 E Palm Valley Blvd in Round Rock, TX (next to the Dell Diamond) on November 2 & 3, 2019. This year’s theme – “New Discoveries!” – highlights fossils from in and around the Austin area. Our show theme, “New Discoveries!” seeks to explore and answer that question by focusing on the geologic history of Texas as told by the rock layers beneath our feet and the fossils they contain. For more information please visit: http://bit.ly/aus-nov2 NOV 2-3 | Austin Celtic Festival The Austin Celtic Festival offers the highest quality regional and international Celtic artists with an extraordinary lineup of talent. For more info visit: Multi-stage and programming of all things Celtic out at the beautiful Pioneer Farms in (. . .continued on page 16)
15
LOCAL EVENTS GUIDE (. . .continued from 15)
AUSTIN
North Austin. In its 23rd year of production it is one of the few remaining festivals dedicated to authentic Celtic traditions. A friendly family event, fun for all ages and opened to all. Get your tickets today. No tickets sales at the gate. Online only. Rain or Shine. http://bit.ly/aus-nov3 NOV 16 | 14th Annual Rags to Riches Gala Each November, hundreds of animal-lovers come together to celebrate another year of giving second chances to the animals who need it most. They renew their commitment to our community’s most vulnerable cats and dogs and make the impossible suddenly possible. Rags to Wags is the Austin Humane Society’s largest fundraiser of the year, raising more than $450,000 in 2018. This single night makes it possible for AHS to provide the highest quality medical care, food, shelter and endless love for thousands of animals in the months ahead. Rags to Wags truly makes second chances possible! . For more information please visit: http://bit.ly/aus-nov16 NOV 17 | The Bloody Mary Festival From SOCO to East Austin, we’ve scoured ATX for the craftiest and most delicious Bloody Marys. We proudly present the SUNDAY FUNDAY BRUNCH PARTY of the year. 16
Your ticket includes 2.5 hours enjoying Austin’s most creative and innovative Bloody Marys, created by the finest restaurants and bars around. Includes yummy food and drink tastes from local companies, photo ops, temp tattoos and more!. For more information please visit: http://bit.ly/aus-nov17
DECEMBER
DEC 10-23 | Austin Trail of Lights The 55th Annual Trail of Lights is part of the essential Austin experience, lighting up the season with a celebration of community, memories and fun. The annual Tree Lighting ceremony will be held in November, then the 5k fun run will kick off the spectacular season in early December. Plan your visit early and don’t forget to take a spin under the Zilker Tree! For more info visit: http://bit.ly/aus-dec10 DEC 13-24 | Armadillo Christmas Bazaar This holiday shopping bazaar is a fun, authentic Austin experience – for 11 days leading to Christmas, visitors can shop national and local art, handmade gifts, stocking stuffers and more while enjoying live music from the Armadillo stage and sips from a full bar. This annual tradition and cultural icon is one of Austin’s longest running art and music (. . .continued on page 18)
17
LOCAL EVENTS GUIDE (. . .continued from 16)
AUSTIN
festivals, attracting around 40,000 shoppers each year. For more info visit: http://bit.ly/aus-dec13
JANUARY
JAN 19 | 3M Half Marathon 3M Half boasts one of the fastest half marathon courses in the country. Enjoy a mostly downhill course that takes you past some of Austin’s finest locations and finishes downtown near the Texas State Capitol. For more information please visit: http://bit.ly/aus-jan19 JAN 20 | Martin Luther King March and Festival Join the march from the MLK statue at the University of Texas campus to historic Huston-Tillotson University to celebrate Dr. Martin Luther King, Jr.’s legacy for Austin and the world. For more info visit: http://bit.ly/aus-jan20 JAN 21-26 | Hello, Dolly! Winner of four Tony Awards including Best Musical Revival, HELLO, DOLLY! is the universally acclaimed smash that NPR calls “the best show of the year!” and the Los Angeles Times says “distills the mood-elevating properties of the American musical at its giddy best.” For more information please visit: http://bit.ly/aus-jan21 18
FEBRUARY
FEB 8 | Concert & Reception for Meals on Wheels Central TX The Central Texas Medical Orchestra under the direction of Dr. Robert Radmer will perform a concert to support Meals on Wheels Central Texas. The Eggmen - Austin’s Nationally renowned Beatles cover band - will close out the concert with several Beatles songs. For more info visit: http://bit.ly/aus-feb8 FEB 16 | Austin Marathon & Half Marathon One of the country’s premier races attracts nearly 20,000 participants from around the world. Events surrounding the marathon include a 5K, live music, finish line festival and beer garden. For more info visit: http://bit.ly/aus-feb16
MARCH
MAR 15 | St. Patricks Day Festival This family-friendly St. Patrick’s Day fest celebrates all things Irish. Come enjoy authentic Celtic music and dancers, Irish language workshops, the finest Irish imports and plenty of good craic!. For more info visit: http://bit.ly/aus-mar15
(. . .continued on page 20)
READ THIS ISSUE ONLINE. SCAN THE QR CODE
Promote your brand
Earn new clients
Grow your business
www.The55Guide.com/Austin 19
LOCAL EVENTS GUIDE (. . .continued from 18)
AUSTIN
MAR 23-29 | World Golf Championships - Dell Match Play With a rare, match-play format consisting of the top 64 players in the Official World Golf Rankings, the WGC-Dell Technologies Match Play field consists of the very best players from around the world and is one of the most elite and exciting tournaments on golf’s calendar. For more information please visit: http://bit.ly/aus-mar23
APRIL
APR 10 | Texas Vegfest Texas VegFest is an educational event that celebrates the health, environmental, and animal welfare benefits of plant‑based lifestyles. Activities include cooking demonstrations, lectures, youth activities, community outreach activities, and live music! For more information visit: http://bit.ly/aus-apr10 APR 16-19 | Old Settler’s Music Festival Central Texas’ signature music event featuring Grammy-winning Americana, arts and crafts, camping, food and libations. Acoustic jazz, blues and bluegrass are all performed by old-time local favorites and award-winning artists from around the world. For more info visit: http://bit.ly/aus-apr16 20
APR (TBA) | Art City Austin Festival Nearly 200 national artists, top local restaurants, two music stages and hands-on art activities make this one of the city’s favorite festivals. For more information please visit: http://bit.ly/aus-artcity APR (TBA) | Austin Food + Wine Festival Pamper your palate in one of the hippest cities in the country at the Austin Food + Wine Festival. Join top chef talent, sommeliers and winemakers from across the nation and Austin’s own acclaimed gourmet scene for an indulgent, threeday epicurean adventure unlike any other, topped off with live musical performances. For more info visit: http://bit.ly/aus-apr-fw
MAY
MAY 2-3 | Pecan Street Spring Arts Festival A free, family event, the Pecan Street Festival is the oldest and largest art festival in Central Texas. Musicians, food vendors, artists and crafts people turn Sixth Street - historically called Pecan Street into a lively street fair where there is something for people of all ages. For more information please visit: http://bit.ly/aus-pecan
LOCAL EVENTS GUIDE
AUSTIN MAY (TBA) | Renegade Craft Fair Renegade Austin unites the local creative community with national Maker talent every year. Fair Market’s iconic quonset is a one-of-akind marketplace to spend the day shopping Maker goods, discovering vinyl rarities curated by local DJs, and hanging out in the yard with a craft cocktail in hand and food trucks aplenty. For more info visit: http://bit.ly/aus-may-renegade
JUNE
JUN 4-7 | ATX Television Festival ATX Festival is the first festival devoted to Television’s history and future. It functions like a traditional film festival with premieres of new series, current hits and cult favorites. ATX Television Festival also offers access to the industry’s leading professionals with cast and creator Q&A’s and panels focusing on innovation in both production and content delivery. For more info visit: http://bit.ly/aus-jun4 JUN 12-14 | Blanco Lavender Festival Visit local lavender farms, shop at the lavender market surrounding the Historic Old Blanco County Courthouse, get tips on growing and using lavender at the speakers’ pavilion, hear live music in Bindseil Park, taste Texas specialty packaged foods, sip regional wines and local
beer, and more. For more info visit: http://bit.ly/aus-jun12
JULY
JULY 4 | H-E-B Austin Symphony Concert & Fireworks The Austin Symphony hosts an annual concert of patriotic music culminating in a spectacular firework display over Lady Bird Lake. For more information please visit: http://bit.ly/aus-jul4-symph JULY 4 | Willie Nelson’s 4th of July Picnic Willie Nelson will return to Circuit of The Americas for his 46th annual 4th of July Picnic and Fireworks. This day-long event features a star-studded lineup, headlined by Nelson himself, and a patriotic fireworks display at the end of the night. . For more information visit: http://bit.ly/aus-jul4-nelson JULY (TBA) | Austin Quesoff The annual Quesoff, a celebration of all things melted cheese, returns to the Mohawk this August. 30 vendors - restaurants, top chefs, home-cooks, neighbors, brothers and sisters - will go head to head in four categories - Meaty, Spicy, Veggie and Wild Card. Buy your bag of chips for $5 and come taste the best of Austin. For more information visit: http://bit.ly/aus-jul-queso 21
AUSTIN | TEX AS | VOL . 1
Travel in Style – by Bonnie Roseman
If there’s anything I’ve learned in my 35 years as a stylist, it’s to “carry on,” and by that of course, I mean take a carry-on bag! In order to make travel easier for my busy clients, I’ve spent years developing techniques to make traveling simple and fun. A carry-on bag is key to making your journey more enjoyable; no more hauling multiple bags, or worrying about losing your luggage, which can ruin your trip before you even begin! In my most recent trip abroad, I traveled to the Scandinavian countries before flying to Greece for a little sun in the Cycladic Islands. After that, it was off to Italy and over the Alps. All the while, I had just one bag with me. 22
AUSTIN | TEX AS | VOL . 1
To make the most of your luggage space, I suggest you wear your jeans and sneakers, and carry your leather jacket while you travel, to save space in your bag. Roll all items tightly! It saves space, and keeps everything from wrinkling. I usually prefer to stuff my undies and socks in my shoes. Select pieces with fabrics that can wash and hang to dry without needing to be pressed – it’s easier to keep things fresh and avoid using foreign cleaners that can be very expensive. Here are the basics for 6 weeks of traveling abroad across different climates. This short, gender-neutral list includes the basics for a great travel wardrobe. I recommend that your main wardrobe color for travel be black. It looks slimming on everyone, and doesn’t show dirt as easily. A few colorful tee tops can be added to give a little zip to your ensemble. All of these items will fit into your carry-on luggage and provide options for mixing and matching stylish looks while you see the world. You can then personalize your list by adding your toiletries, gloves, hat, or other essential accessories as needed.
TRAVEL WARDROBE Underwear 6 undergarments 6 pairs of socks Pajamas (your choice) Outerwear 2 tee shirts 2 button down shirts (one dressy, one casual) 2 pairs of pants (one jean, one black trouser) 1 pair of shorts 2 jackets (one leather, one raincoat) 1 cashmere sweater (pullover or cardigan) 1 bathing suit 1 basic black blazer (can be worn day or night) Accessories Scarves (colorful, lightweight) Belts (at least one black) Jewelry (a few pop pieces) 1 tie (traditional or bow tie) Shoes One heel or dress shoe One pair of flats (for day or night) One pair of sandals
Feel good, and look even better! Please contact me personally if you have any questions or would like to see my unique travel collection which can be dressed up or down. Bonnie@bonnieroseman.com | www.bonnieroseman.com | 917-209-0516 Bonnie Roseman Bio Fashion Designer. Style Consultant. Wardrobe Architect. The press has designated Bonnie Roseman as the ultimate fashion expert over the years. Featured on the NBC Today Show, People Magazine, and more, Roseman furthered her B-L-T brand by presenting her collection through the Home Shopping Network and Home Shopping Europe. Bonnie Roseman’s BLT has evolved into a full service boutique for women of all body types and lifestyles, featuring wrinkle-free fabrics and unique accessories that pack well and travel lightly wherever you go. Schedule with Bonnie and she’ll tell you all the secrets she’s been telling her clients for over 30 years. 23
AUSTIN | TEX AS | VOL . 1
10 Year Countdown
To Retirement
Money See Where You Stand - It’s time to assess how prepared, or unprepared, you are financially for retirement. • Take a quick test: Assuming your retirement is about 10 years away, you want to have roughly seven times your current salary in savings, according to research from Fidelity. That puts you on the road to having about 10 times your final salary saved by retirement and maintaining your present standard of living. Retire before hitting 67 and you’ll need more saved; after, you’ll need less. • D . o a deeper dive: Plug your current numbers (such as earnings, savings and future pensions) into an online calculator to estimate your retirement income. Experts say you’ll need 75 to 80 percent of preretirement income to live well — debatable but a good starting point. • D . on’t despair: You have 10 years to act, by earning more, trimming expenses or delaying retirement. “Whatever you can do can only help,” says George Papadopoulos, a financial planner in Novi, Mich.
Save the easy way If you’re among the 82 percent of workers paid via direct deposit, save more by splitting your pay across accounts. Have your payroll department put part of each check into an online savings account, where it’s out of sight and out of mind. The direct-deposit users who split their deposits save up to $90 more per month than those who use another method to save, according to a recent study. (. . .continued on page 26) 24
This is how you say it’s going to be okay. Every 8 minutes the American Red Cross responds to a disaster and makes this promise. You can help us keep it.
Donate today at redcross.org
25
AUSTIN | TEX AS | VOL . 1
Pad your nest egg If you already have healthy savings in a 401(k), 403(b) or IRA, open a Roth IRA (in 2019 you can contribute up to $7,000 if you’re 50 or older), or put money into a regular taxable account. •
Why do it? You’re laying the groundwork for lower taxes later. Say you need a new roof on your house in retirement. If you take money from a 401(k) or traditional IRA, it is taxable as ordinary income, and you may end up in a higher tax bracket, explains Carolyn McClanahan, founder of Life Planning Partners. But you can pull your contributions from a Roth IRA tax free (earnings, too, if you’re at least 59½ and have had the Roth at least five years). You can also invest via a basic taxable brokerage account; when you sell securities, you’ll pay only (usually lower) capital gains taxes on the profits.
Pay down the mortgage The problem with a mortgage in retirement is that you may have to sell investments to cover payments. And sometimes that will be when the markets are down - the worst possible time to sell, says Shelley Giordano, chair of the Funding Longevity Task Force at the American College of Financial Services. Her advice: 1. In place of your monthly payments, make half payments every two weeks. Those 26 payments per year are the equivalent of 13 monthly payments, resulting in a faster payoff and lower total interest costs. 2. Got a tax refund? A bonus? A side job? Apply that to your principal. 3. Avoid refinancing your mortgage, since a new loan with a later payoff date means more of your monthly payment goes to interest expense, not an increase in your home equity. 4. Don’t use a home equity loan or line of credit for purchases. The new tax law makes that less attractive, says Giordano. And this is the wrong time to be growing your mortgage debt. 26
AUSTIN | TEX AS | VOL . 1
Put new retirement savings to work Not sure where to invest additional money? Aim for growth, somewhere between a trip to Vegas and stuffing cash into your mattress. The sweet spot •. Balanced mutual funds: Seek a mix of stocks and bonds;
a 50/50 or 60/40 ratio of stocks to bonds is reasonable. • Target-date mutual funds: These balanced funds automatically adjust investments to lower risk as you age.
Conservative but sound • High-grade corporate bond funds • Money market accounts • U.S. government bond funds • Certificates of deposit and online savings accounts (See bankrate.com for Federal Deposit Insurance Corp.–insured banks offering higher rates.)
• Series I inflation-protected savings bonds (sold at treasurydirect.gov)
Work Prepare Your Plan B - Ask yourself these questions, and be honest. 1. Do I work in a stable and growing industry? 2. Do I work for a stable and growing company? 3. Is my heart still in it? Have you answered no to any? It’s time to update your LinkedIn profile and see what else is out there.
• Why do it: Only about half of workers cruise their way to a planned, voluntary retirement; the rest of us exit prematurely, often as a result of job loss or burnout. You still have time to regroup. “With 10 years to go, there is still enough runway to make a mark,” says career and retirement expert Nancy Collamer.
• .How to do it: You know the routine. Tell people who can help you. Sign up for job alerts on the go-to site in your industry. Browse the postings that interest you, and note the skills that employers are seeking.
• .Want to stay put? Get busy anyway. “Whether you drive a bus or work in a store or in a professional occupation, maximize your opportunities by building your capital,” Collamer advises. “Give talks or write articles to boost your profile, or take advantage of short-term training programs.” One option: Go to linkedin. com/learning and get online access to thousands of business, creative and technology courses for $30 per month. Miller, Mark and Powell, Robert, AARP (2019, Feb 6). Countdown to Retirement: 10 Years [Web log post]. Retrieved from https://www.aarp.org/retirement/planning-for-retirement/info-2019/10-year-countdown.html
27
RECOMMENDED SERVICE DIRECTORY
ATTRACTION RECREATION Exotic Resort Zoo........................................ 11
MORTGAGES Bedrock Lending.... Front Cover, Back Cover
COMMUNITY IMPROVEMENT United Way of Williamson County........ 19
NON-PROFIT ORGANIZATION American Red Cross................................. 25 United Way of Williamson County........ 19
CUSTOM HOME BUILDER Sitterle Homes.......................................... 4-5 EVENTY & PARTY VENUE Mt. Playmore..................... Front Inside Cover EYE SPECIALISTS Westlake Eye Specialists.......................... 17 FAMILY LAW The Law Office of Tim Whitten.............. 17 HVAC Arrow Air Conditioning...............................9
28
PEST CONTROL HomeTeam Pest Defense...........................3 RESORT LODGING Exotic Resort Zoo........................................ 11 SENIOR COMMUNITY The Village at Collinwood........................ 19
READ THIS ISSUE ONLINE. SCAN THE QR CODE
Promote your brand
Earn new clients
www.The55Guide.com/
Grow your business