October 2020
to stay up to date on LPL Financial's Market Insight!
How to Plan for Rising 
Health Care Costs in Retirement
October is Financial Planning Month, which makes for a good reminder to give your overall financial plan a thorough check-up to make sure you're on the right track for a successful future. One expense many Americans tend to underestimate is the rising cost of health care in retirement. It is estimated that the average couple will need $295,000 in today's dollars for medical expenses throughout their golden years, and that excludes long-term care costs. 

Luckily, there are methods to curb these costs and steps you can take to help yourself prepare for them. Click here for more information and determine how you can start planning today.
Did You Know?
- American workers are spending 55% more on health insurance premiums than they were a decade ago.
- 79% of future retirees cite health care costs as their top financial concern.

- One third of "early retirees" who claim Social Security at age 62 do so to help pay for health care expenses.

- The percentage spent on health care expenses is nearly 3 times as much for retirees as it is for those still working. 
Source: usatoday.com, 2020
Must-Have Documents
for a Peaceful Future

Do your loved ones know what you plan to leave them when you pass away? Do they know who to contact when something happens? While this isn't exactly a fun process to go through or conversation to have, fewer surprises will make estate administration much easier to handle when the time comes.

Having the proper documents in place for your future can save your loved ones a great deal of stress at an already difficult time. Click here for more information.

If you have questions about planning for your future or if you'd like to update the beneficiaries on your accounts, please call our office at (518) 584-2555!
NY's Fall Foliage Report
Fall has officially arrived in Upstate New York! Leaves have started their color transition for the season, and we are expected to be at midpoint
this weekend in the Capital Region! 
Click here to check out New York's
Fall Foliage Report. The report is updated weekly, so be sure to check back for updates as we reach peak foliage!
Robert Schermerhorn, CFP® 
Jamie Usas, CFP®,
Operations Manager
Amanda Friedman,
Wealth Consultant
Andrew Chapman,
Operations Research Associate
Mollie Flynn,
Office Coordinator
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18 Division Street, Suite 305
Saratoga Springs, NY 12866
Phone: 518-584-2555

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Planning Tip
The Federal Reserve's latest economic forecasts suggest that interest rates will remain near zero at least through 2023, in hopes to bring the economy back to full strength.

Low interest rates come with pros and cons. For those saving their retirement assets in the bank, low interest rates make it difficult to keep up with taxes and inflation. 

However, if you're looking to borrow money, these low interest rates offer the opportunity to finance large purchases at much lower costs, which can potentially save you thousands of dollars over the term of the loan.

It's important to keep these low interest rates in mind when planning your future!
Securities & advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.