Best money moves for seniors

From CNN Money – “To have the retirement you want now, you may have to tap a little more of your earning power …and tap into your spirit of adventure. Here are 6 ways to make it happen.

First up – Turn assests into income.

Stingy stock returns are threatening to upend the standard rule of thumb for making your money last: Withdraw 4% of your assets the first year you retire, adjust annually for inflation, and you’ll have nearly a 90% chance of your money lasting 30 years. But that calculation assumes 8% returns for stocks, 5% for bonds.  Given today’s low interest rates and choppy stock market performance, some advisers suggest starting at 2% or 3%.

Too little to live on? Learn to balance conservatism and cash flow.”

Find out what the other 5 ways are:

http://money.cnn.com/galleries/2012/retirement/1204/gallery.investing-advice-seniors.moneymag/?iid=GM

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About UWF Center on Aging

The Center on Aging at the University of West Florida was established in the Fall of 2010 when the School of Psychological and Behavioral Sciences faculty along with assistance from Sponsored Research submitted a grant to the State University System Board of Governors in support of aging initiatives for Northwest Florida. Its mission is to improve the quality of life of aging adults through the application of science to address challenges associated with aging and to promote healthy aging, with an emphasis on prevention. This will be accomplished through inter-disciplinary and inter-professional efforts of basic and applied research, consultation, and partnerships with community agencies. Education and training, direct services to the aging population, and public awareness and understanding of the contributions and needs of elders will be primary objectives.
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