1. How to Afford a Long, Happy Retirement Presented by (Name, CPA) Member, The Ohio Society of CPAs 11/18/2015 1

2. Procrastination… 11/18/20152 There’s only one side to waiting and that’s the downside –Don’t hold off planning for your retirement: it cannot wait! –Put your money where it counts – in savings!

3. Making the Case 11/18/20153 Advocate for your future financial security Understand why you have to start NOW Get an advisor to pinpoint strategies

4. Making the Case 11/18/20154 Plan to save –It is NEVER too early –It is NEVER too late Make the retirement of your hopes the retirement of your reality

5. Why You Have to Take Charge Hard to ignore reasons to start saving for your retirement now –You will need 2/3 to 3/4 of current income for financial stability during retirement years –If you start saving in your 20s or 30s you can possibly be a millionaire by retirement age 11/18/20155

6. A Successful Retirement Step 1: Pinpoint your major sources of retirement income Step 2: Take a realistic look at your retirement costs and goals Step 3: Close the gap between income and goals 11/18/20156

7. Pinpoint Your Major Sources of Retirement Income Inventory all of your anticipated sources of retirement income Consider which ones you have, which ones you don’t, and which ones you should consider adding 11/18/20157

8. Pinpoint Your Major Sources of Retirement Income Social Security –Provides retirement income and basic financial support Employer Pension Plan –Retirement income: must be fully vested with a company to make this worthwhile Employee Contribution Plans, e.g. 401(k) –Highly effective approach to putting money away for retirement 11/18/20158

9. Pinpoint Your Major Sources of Retirement Income IRAs –Tax-advantage retirement option that can be set up through your banker Traditional IRAs Roth IRAs –Consult a CPA to learn more about which IRA is best for your retirement planning 11/18/20159

10. Pinpoint Your Major Sources of Retirement Income Private Investments Consider a second career… –Out of necessity –To pursue a passion Look at the tax consequences –Higher tax bracket? –Affect your Social Security? 11/18/201510

11. Take a Realistic Look at Retirement Costs and Goals The operative word here is REALISTIC. You need to be honest with yourself NOW so you are protected from unpleasant surprises when entering retirement. 11/18/201511

12. Take a Realistic Look at Retirement Costs and Goals Questions to consider when evaluating your retirement expenses and financial responsibilities –Will you keep or sell your current home? Do you have a mortgage? –Do you want to duplicate your current lifestyle? –Will you be paying to educate children? –Which of your medical expenses will be covered? –Do you plan to travel? 11/18/201512

13. Take a Realistic Look at Retirement Costs and Goals Be sure to take inflation into account when calculating your retirement expenses Most pension plans and Social Security factor in a cost of living increase to account for inflation Being on a fixed income as a retiree can be devastating if you don’t plan for inflation 11/18/201513

14. Close the Gap Between Your Projected Income and Your Retirement Goals Turn plans of actions and ideas into reality There is a gap between your retirement goals and the money you’ll need to support them Close the gap and see the results… 11/18/201514

15. Close the Gap Between Your Projected Income and Your Retirement Goals Common excuses for avoiding saving for retirement –I’m too young –It’s too late –I don’t have enough money to put away –There are other expenses 11/18/201515

16. Close the Gap Between Your Projected Income and Your Retirement Goals There are no excuses not to start NOW One point to attack all arguments – The Power of 100 –There is amazing power in putting away $100 a month towards your retirement 11/18/201516

17. Close the Gap Between Your Projected Income and Your Retirement Goals The Power of 100 – How powerful is it really? –After 5 years earning 6% you’ll have $6,977 –After 20 years $46,204 –After 30 years $100,452 It’s NEVER too early and NEVER too late 11/18/201517

18. Close the Gap Between Your Projected Income and Your Retirement Goals 11/18/201518 Remember to consider: Your current age Your desired retirement age Your tolerance for risk Tax implications now and at retirement Consider individual investments Investments are proven pivotal in closing the retirement income gap

19. Close the Gap Between Your Projected Income and Your Retirement Goals Tax-Advantaged Retirement Investments –U.S. Treasuries –Municipal Bonds –Annuities 11/18/201519

20. Close the Gap Between Your Projected Income and Your Retirement Goals Taxable Retirement Investments –Certificates of Deposit (CDs) –Corporate bonds and stocks 11/18/201520

21. Beware of Common Pitfalls Get rich quick schemes Over-caution Not enough diversification Tapping into your retirement investments 11/18/201521

22. Protecting Yourself in Retirement Put aside $100 extra a month Diversify Take advantage of anything and everything your company offers Use tax advantaged vehicles Start right NOW 11/18/201522

23. For further information If you would like further information or assistance with retirement planning, please contact me: –Name –Company –Address –Email –Phone 11/18/201523