August Newsletter
August 5th, 2020
 oCaptain's Log


We hope you're all holding up and doing your best to enjoy the summer so far. My wife and I just wrapped up with selling our house and moving into a rental while we build our next home. All I've got to say is that moving in the middle of the NC summer heat is definitely not the most fun of experiences, but we were lucky to have Kelly's help and we survived without completely losing our minds. Some of you are getting kids or grandkids ready to go back to school, whether that be virtual or in-person classes, so we've all got plenty on our minds. We'll try to keep this month's newsletter short and sweet. 

This month's The Wealth Report touches on ideas for drawing income for an early retirement. With the Coronavirus making the work environment for many less than desirable, a lot of people have been thinking about whether they can retire early. There's plenty that goes into deciding whether you can afford to hang up your apron (especially if it's earlier than you had anticipated), so be sure you're considering the various sources of income that can be drawn from and some of the pros/cons of each. As with any retirement plan, you need to be sure you're diversifying income streams and that you're accounting for inflation and fluctuations in the market. Retiring early adds a few extra challenges, so you need to make sure you're consulting with someone who is experienced in dealing with various types of accounts and can give you a heads up on any potential issues that may pop up. 

If you've got questions or concerns about your current retirement plan or you'd like to discuss whether you may be able to retire early, then feel free to reach out to us for a review. We are set up to work remotely if you're not comfortable meeting in-person for the time being. Also, if you have friends or family that are worried about their financial plans for the future during this time, then encourage them to reach out to us. We are here to hopefully provide a little clarity during this uncertain time. Just let us know if there is anything we can do to ease some of your concerns going forward. 

Until Next Month,
Jim's signature
 James D. Stillman

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The Wealth Report:

Income Ideas for Retiring Early

Before COVID-19 came along, people over age 55 represented 25% of the American workforce. There were more workers over age 55 than under age 30. In the course of just a few months, that ratio reversed. While older Americans have proved more susceptible to the ravages of this virus, younger people are willing to stay in the workforce. Even if they've had hours reduced or been laid off, they are seeking and plan to resume work in the future. 

That future is not so rosy for more mature workers. We don't know what the normal, onsite work environment will be like a year from now. If the public is still social distancing, that means people are still at risk - and those age 55 and older may not want to take chances with their health. After all, they've been saving for decades. They're not about to miss the opportunity to enjoy retirement just to eke out a few more years of work in an environment fraught with health risks.

All content is intended for informational purposes only. Any guarantees are for insured products only and are dependent on the claims paying abilities of the insurer. All investments carry some risk and you should be advised by your personal financial advisor before implementing any strategies discussed, as they are not suitable for everyone. James D. Stillman is an Investment Advisor Representative of JDS Wealth Management Corporation and AE Wealth Management. 

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