Retirement In Sight for July, 2016


R E T I R E M E N T  I N  S I G H T

Presented by
Michael Fassi, CLU, CHFC
Terri Fassi, CPA, MBA, Certified Divorce Financial Analyst
Website: Financial Educators Network



July, 2016

“When I let go of what I am, I become  what I might be.”

– Lao Tzu

Original Packaging.

Visiting a foreign  country? Bring the  medications and supplements you use in their original packaging. In other  countries, you may end up getting  generics rather than brand names,  and supplements and vitamins may come in different forms than you  expect. Google (or ask your physician for) the exact generic names of the  drugs you take.

The Snail Prevails.
A snail is at the bottom of a well 30  feet deep. It crawls up 3 feet each  day, but at night, it slips down 2 feet.  How long does it take for the  snail to crawl out of the well?*

“Ike” Was U.S. Golf  Ambassador.

President Dwight Eisenhower  played over 800 rounds of golf  during his time in the White House. He popularized the sport to the  degree that the number of U.S.  golfers nearly doubled from 1953-1960.4


Why do people open up Health Savings Accounts in conjunction with  high-deductible insurance plans? For one, HSAs are funded with pre-tax  income, and grow untaxed. Distributions out of an HSA are tax-free as long  as they are used to pay qualified health-care expenses. On the flip side, HSA funds don’t pay for all forms of health care. You also can’t use HSA funds to pay for a Medigap policy or Medicare supplemental insurance, in case you  are wondering about such a move. Since contributions to the HSA are, in most states, made with your pre-tax income, however, the money grows over time.1


If you have the option to retire early, understand that there are emotional and financial aspects to the decision. The advantages are obvious – your time is suddenly your own, and you are free to pursue your favorite pastimes, hobbies, and volunteer in your community or for your favorite organizations. Family time is at a surplus, too, with more time for grand kids.

Unfortunately, not everyone knows what to do with all of that time, and it may time to find a focus for your energies. Does your employer pay for your health insurance? What will you be doing for coverage between your last day at work and when you are eligible for Medicare at 65? Meanwhile, without a regular paycheck, you may be tempted to dip into your retirement funds;  doing so before age 59½ could lead to a 10% penalty for early withdrawal. If you’re relatively healthy, you could be in for a much longer retirement than your own parents; this means more years that your retirement savings must cover. You may well add to those savings by moving into a new, less demanding career, or merely cut back on the number of hours you are working. Regardless, you’ll want to consider each of these factors long before your final day at work.2

Based on records dating back to the 1960s, the Centers for Disease Control and Prevention have determined that we’re living longer. Life expectancy in the 2010s is now about 79 years, an increase of 9 years from a half-century ago.3

Mike Fassi may be reached at
Terri Fassi may be reached at
Phone: 800-320-3012 or FAX: 970-416-0087


This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. The publisher is not engaged in rendering legal, accounting or other
professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty.

  • TRIVIA ANSWER: Stumped? Contact me for the answer! 

1 – [6/16/16]

2 – [7/6/16]

3 – [6/26/16]

4 ––eisenhower–golf-s-ultimate-ambassador.html [3/1/16]