Campbell Wealth Management December 2017

The Rightsizing Retirement Revolution Are You Financially Prepared to Leave the Workforce?

A recent Google consumer survey reported that almost 50 percent of the baby boomer generation has less than $1,000 in their savings accounts. According to a report by the Economic Policy Institute, the average boomer has a nest egg of about $8,178 per year for a 20-year retirement, and 41 percent of the generation has no retirement savings whatsoever. But, despite these troubling statistics, retirement is feasible for nearly all of us. It just requires a bit of “rightsizing.” As opposed to downsizing, rightsizing implies that you’re moving into a monetary space that’s right for you, rather than sacrificing aspects of your life for something cheaper. With rightsizing, nothing matters more to the financial success of your retirement, regardless of the breadth of your budget, than carefully managing your spending. Seems obvious, right? But according to an Employee Benefit Research Institute report, 46 percent of retirees actually increase their spending after leaving the workforce. In order to prepare for retirement, you need to start living below your means as soon as possible and develop habits that will last until long after you’ve left the workforce. And no, this certainly doesn’t have to

be a grim process. You don’t need to give up the things you love to do or purchase. It simply means taking a hard look at your surroundings, your possessions, and your spending. Are you sticking around in a house much larger than you need, simply because it’s full of old stuff ? It might be time to jettison the junk lying around and give your mind — and your budget — some wiggle room. What do you actually need in your life? And how much of your spending is simply to impress others? These are tough questions, but if you want to have a fulfilling, 20-year retirement, they’re absolutely essential things to consider. If you really want to zero in on your expenses, use an app like Mint or iFinance that imports your banking data and organizes your spending by category. You’ll definitely find at least one surprise on your spending pie chart. It’s vital that you acknowledge that your happiness has nothing to do with your stuff. This fact will only be thrown into sharper relief as you age. After all, you can’t take a high-end coffee maker or fancy curtains with you when you pass. Trim your life down to the essentials and live with the comfort that you’ll retire with money to spare.

Christmas STAR COOKIES

(Recipe inspired by elanaspantry.com/star-cookies.)

Ingredients: • 2½ cups blanched almond flour (not almond meal) • ½ teaspoon Celtic sea salt • ¼ teaspoon baking soda • 1 teaspoon ground cinnamon

• ¼ cup coconut oil, melted • 5 tablespoons agave nectar or honey • 1 tablespoon vanilla extract

Thank you to the wonderful clients who introduced us to their family and friends whom we were able to help this month, and to all of our clients for continuing to let us care for you. Special thanks to:

Directions: 1. In a large bowl, combine almond flour, salt, baking soda, and cinnamon. 2. In a small bowl, mix coconut oil, agave, and vanilla. 3. Mix wet ingredients into dry. 4. Roll out dough between 2 pieces of parchment paper until ¼ inch thick. 5. Refrigerate for 1 hour. 6. Remove top piece of parchment paper and dust dough with almond flour. 7. Cut out cookies with a small star cutter. 8. Using a metal spatula, place stars on a parchment-lined baking sheet. 9. Bake at 350 F until edges are lightly browned, 5–8 minutes.

Bob & Frieda Omasta and Pete & Mary Obarowski

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