(NAPSA)—For seniors who have already entered retirement, there are some important things that can be done in 2018 to make it better and more fulfilling: 1. Consider your spending. Create a budget and track your expenses. Most experts say you'll needatleast 70 to 80 percent of your current income to live the samelifestyle in retirement, so after you figure what you'll get from Social Security and any other income sources, you'll need to create a nest egg that can throw off that much without yourhavingto use anyof the principal. Also, your retirement can last for a good long time. According to AARP, a healthy, upper-middle-class couple who are 65 today have a 43 percent chance that one or both partnerswill live to see 95. Financial planners now advise that you withdraw no more than 3.5 percent a year out of your savings for both your regular expenditures and one-time items like a new roofor a big vacation for the moneyto be aroundaslong as youare. LISA www.lisa.org There may be hidden value in your life insurance policy. surrender value through something called a Life Settlement. You get a cash payment and the purchaser assumesall future premium payments in exchange for the benefit. Candidatesfor life settlements are typically aged 70 or older, with a life insurance policy that has a death benefit of at least $100,000. can. Research by Joseph K. Goodman of Washington University in St. Louis, and Sarah Lim at Seoul National University, Such sale could improveretirement for many, yet fewer than half of American seniors are aware of the option. ‘That’s one reason the Life Insurance riences bring more happiness than things. profit organization that is the nation’s you can while your health holdsout. pants in the life settlement industry, is 2. Take that dream trip while you South Korea, among others, shows expe- You want to get in as many goodtimesas Another impetus: Many hotels, resorts, restaurants, attractions and tour operators offer special discounts for older travelers. For example, for less than $100 you can get a lifetime pass that lets you enjoy every national park in the country. Ask when you book about discounts for seniors and you may save enough for an extra trip or two. 3. Inventory yourassets for sources of cash. For example, take a good lookat any life insurance policy you no longer need.It could besold for a significantly greater amount than the policy’s cash Settlement Association (LISA), a non- largest association representing partici- committed to making sure that older Americanshaveall the information they need to make an informed decision. To explore whether a life settlement is a good option for you, you or your financial adviser can contact a licensedlife settlement professional who is a member of the association and is subject to a rigorousvetting process. Learn More For further facts about life settle- ments, how they work and whether you're eligible, call the LISA office at (888) 504-8561 orvisit www.lisa.org.
