Keystone Law Firm - August 2018

H aving money saved is crucial for adults aged 50 or older who plan to retire in the near future. Some people are prepared for retirement, having saved a sufficient amount throughout their lives. However, there are people who, despite having tried to save, come up short in their retirement funds. This can send them into a panic. Women account for the largest percentage of people who don’t have enough money in their retirement savings by the time they reach the age of 50. A survey produced by the nonprofit Transamerica Center for Retirement Studies shows that many women who reach retirement age will not have adequate funds to support themselves. Despite having a higher savings rate, the average amount women have saved at the age of 50 is about $35,000, compared to $120,000 for men. What’s the reason behind this? According to the survey, women often have a large gap in their financial savings at some point in their lives. They are more likely to work part time or stop going to work to take care of family members in need. By working less, women tend to earn less money, which prevents them from putting away sufficient funds for their retirement. This also affects whether or not they are WHEN YOUR FUNDS ARE LOWER THAN THEY SHOULD BE How to Boost Your Retirement Funds

covered by their employer’s retirement benefits, since most employees are required to be full- time in order to receive any benefits.

If you’re nearing retirement age, don’t fret — you still have options available to you. If you’re working, look into your company’s retirement plan, especially if they offer a 401(k). According to the IRS, those who qualify (i.e., someone who joins the plan and is 50 years or older) can contribute up to $24,500 a year.

To learn more about what options are available, it’s crucial you speak to a planning specialist. By working with someone who understands retirement, you’ll create a solid plan and ensure that you successfully enter and enjoy your retirement. Beat the Heat and Stay in Shape


Here at Keystone Law, we know that securing your future extends beyond just estate planning. While it’s important to have your affairs in order and your legacy

open early to accommodate those who want to get their exercise in the morning! You can visit to get details on mall walking groups near you, and find out if your local shopping center opens early. To some, the idea of walking through a mall for exercise as if it were a park may seem a bit ridiculous. But once you consider the benefits this time of year, you many come to understand why malls have become the second-most popular walking destination in the country, after neighborhoods. First and foremost, malls are air conditioned, keeping you out of the sun and heat while you exercise. Second, there are plenty of benches, water fountains, and places to catch your breath throughout these shopping centers. Third, you will always know there are restrooms nearby. As a bonus, if you are walking during normal business hours, you could always grab a bite to eat or get some shopping done, though it is certainly not required! While our estate planning experts can certainly help you gain peace of mind about the future, only you can take steps to keep your body healthy! We thought we’d share this fun, convenient way of getting exercise this summer to help inspire you. No matter what you like to do in the summertime, have fun and try to stay out of the heat!

secured, you also need to take care of yourself right now! Good diet and exercise are important to

keeping your body happy and healthy.

Unfortunately, the dry, sweltering heat this time of year makes getting out and about unbearable. The last thing you want is to expose yourself to sunburn — or worse, heatstroke. Thankfully, our shopping centers here in the greater Phoenix area offer an ideal venue for those looking to get in a little exercise this August: mall walking. In case you have not heard of this trend, mall walking (yes, walking through shopping malls) has become an extremely popular activity for seniors looking to socialize and stay in shape. Some malls even

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