Protect Your RetIRAbility

Reality Check
Are you one of the 77 million baby boomers born between 1946 and 1964 who face an uncertain future with Social Security? If you are, you can expect to live longer than your parents, but it is uncertain whether your full Social Security benefit will be there when it’s time to retire. According to the AARP, Social Security can meet 100 percent of its obligations until the year 2030. If no changes are made to Social Security, only three-quarters of the boomers' benefits will then be available.

Are you worried that Social Security may not be there for you? Can you live on three-fourths of your anticipated benefit if no changes to the current system are made? If changes are made and you receive 100 percent of your benefits, will it add enough "gold" to your pocket to make your retirement years Golden Years?

RetIRAbility
The good news is you can protect your retirement lifestyle by investing in an IRA. An IRA is an Individual Retirement Account, which is a special account allowing you to tax-deduct contributions. IRAs can be established by anyone under the age of 70½ who has earned income. (If you are a non-employed spouse, you are also eligible to establish an IRA.)

Why Planners Like IRAs
Money in IRAs grows tax-deferred. You may own an IRA even if you are a participant in another retirement plan. However, you may not be able to deduct all your contributions if you or your spouse are a participant in an employer-sponsored plan. Regardless of whether contributions are deductible, your money still grows tax-deferred until withdrawn.

Also, most IRAs offer a variety of investment options, including mutual funds and stocks.¹ Another attractive feature is portability. Just fill out a form and you can move your IRA from one financial institution to another—it's that easy.

Mark Your Calendar
IRAs can be established at any time. To be tax-deductible for a given calendar year, a contribution must be made within that year or through April 15 of the following year (a possible 15½ -month period).

¹Beneficial Investment Services, Inc., (BIS) is a wholly owned subsidiary of Beneficial Financial Group. Securities and investment advisory services offered solely by Beneficial Investment Services, Inc., member FINRA/SIPC, 150 Social Hall Avenue, P.O. Box 45654, Salt Lake City, Utah 84145-0654 (800) 278-1103. Beneficial Financial Group is a marketing name for Beneficial Life Insurance Company, its affiliated companies, and sales representatives.