Senior Expo

2023 Bella Vista Fall Senior Expo | 9 https://highlandsoncology.com/ Springdale | Fayetteville | Rogers | Mountain Home • highlandsoncology.com World class cancer care close to home. The Highlands advantage. 1451 BELLA VISTA WAY BELLA VISTA, AR 479-855-3053 7:30 A.M. - 5:00 P.M. MON - FRI 8:00 A.M. - 12:00 P.M. SAT CLOSED SUNDAY Supplies For Your Home Projects!!! We are your community hardware store What constitutes a perfect retirement is different for everyone. Some people may imagine fishing their days away, while others may aspire to embrace their inner globetrotter. Though individuals' retirement dreams differ, every retiree will need a wise and disciplined approach to money management. Average life expectancies have risen considerably over the last several decades, and no one wants to outlive their money in retirement. Various strategies can help retirees enjoy their golden years without having to worry about their finances. Study up Tax implications of withdrawing from your retirement accounts. Every retirement investment vehicle, whether it's an IRA or a 401(k), has tax implications. Money withdrawn too early may incur tax penalties, and even money withdrawn long past retirement age could elevate retirees into a new tax bracket. A financial advisor can help retirees develop a guideline for withdrawing money from retirement accounts to minimize tax liabilities. Prioritize your own needs. Though retirees, particularly those with children and grandchildren, may feel an obligation to help their families, generosity can be very costly for adults who have stopped working. Retirees must prioritize their own financial needs, making sure they can pay their bills and maintain a quality of life that won't jeopardize their long- term health. Examine your housing situation. Retirees who own their homes might be able to cash in on their equity by selling their homes and downsizing to a smaller home with lower property taxes. If moving is not an option, a financial advisor can highlight the advantages and disadvantages of reverse mortgages, which may be an option for improving financial well- being in retirement. Stick to a budget. Roughly 70 percent of individuals who turn 65 will need long-term care in their lifetimes. In fact, average retired couple age 65 in 2022 will need roughly $315,000 to cover health care expenses in retirement. And health care costs are just one of many expenses retirees can expect to have. Budgeting and avoiding overspending can ensure retirees have the money they need when they need it. Special to BELLA VISTA SENIOR EXPO Money management tips for retirees

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