10A COTTAGE GROVE SENTINEL FEBRUARY 21, 2018
Living 50 Plus in Cottage Grove
Saving for retirement after 50
Whether it’s advice from their
parents, a response to television
ads urging viewers to save for
retirement, or their own fi nan-
cial savvy, many of today’s
young professionals recognize
the importance of saving for re-
tirement from the moment they
receive their fi rst paychecks.
But men and women over 50
may not have been so practical,
and many such professionals
may feel a need to save more
as their retirements draw ever
closer.
Saving for retirement might
seem like a no-brainer, but the
National Institute on Retirement
Security notes that, in 2017, al-
most 40 million households in
the United States had no retire-
ment savings at all. In addition,
the Employee Benefi t Research
Institute found that Americans
have a retirement savings defi -
cit of $4.3 trillion, meaning they
have $4.3 trillion less in retire-
ment savings than they should.
Men and women over 50 who
have retirement savings defi cits
may need to go beyond deposit-
ing more money in their retire-
ment accounts in order to live
comfortably and pay their bills
in retirement. The following are
a few simple ways to start sav-
ing more for retirement.
• Redirect nonessential ex-
penses into savings. Some
retirement accounts, such as
IRAs, are governed by depos-
it limits. But others, such as
401(k) retirement plans, have
no such limits. Men and wom-
en can examine their spending
habits in an effort to fi nd areas
where they can cut back on
nonessential expenses, such as
cable television subscriptions
and dining out. Any money
saved each month can then be
redirected into savings and/or
retirement accounts.
• Reconsider your retirement
date. Deciding to work past the
age of 65 is another way men
and women over 50 can save
more for retirement. Many
professionals now continue
working past the age of 65 for
a variety of reasons. Some may
suspect they’ll grow bored in
retirement, while others may
keep working out of fi nancial
need. Others may simply love
their jobs and want to keep
going until their passion runs
out. Regardless of the reason,
working past the age of 65 al-
lows men and women to keep
earning and saving for retire-
ment, while also delaying the
fi rst withdrawal from their re-
tirement savings accounts.
• Reconsider your current
and future living situation.
Housing costs are many peo-
ple’s most considerable ex-
Blooms to think about as you
prepare spring gardens
The arrival of spring is a wel-
come occurrence for many peo-
ple. Budding fl owers are among
the harbingers of spring. Spring
fl owers can revitalize win-
ter-weary people just when they
need it most — and provide re-
assurance that brighter, warmer
and longer hours of sunlight are
just around the corner.
Cold-tolerant fl owers are har-
dy enough to start blooming
before the last frosts have dissi-
pated. Other fl owers will begin
to fi ll in as days warm a little
bit more, according to Better
Homes and Gardens. Home gar-
deners looking to warm up their
gardens with early blooms can
use these fl owers in their ear-
ly-season containers, window
boxes and planting beds.
• Pansy: Pansies prefer cool
weather, which can make them
one of the best fl owers to plant
in early spring and late fall. Pan-
sies come in a variety of colors,
so there’s bound to be an of-
fering that will blend with any
homeowners’ landscape design.
• Creeping phlox: Also
known “moss phlox,” creeping
phlox is a short ground-cover
that is a herbaceous perennial.
Phlox produces small, fragrant
fl owers in dense clusters, which
can attract wildlife, such as but-
terfl ies, to their mats across the
soil surface.
• Snowdrops: Snowdrops
can peek out even when there
is snow still on the ground —
sometimes as early as January
and February. But their name
is actually a reference to their
appearance, as snowdrops have
three white petals that hang
down like drops dripping off the
stem.
• Violets: These fl owers are
closely related to pansies and,
as a result, prefer cool seasons.
Violets are generally slightly
smaller than pansy blooms, but
they can be just as beautiful. But
as with pansies, violets will start
to fade when the heat arrives.
• Crocus: Crocus plants are
relatively small, only reaching
three to six inches in height.
However, their grass-like leaves
are some of the fi rst sprouts that
can be seen among bulb and
corm plantings. Preferring full
to partial sun, these gold, pur-
ple, lavender, white, or yellow
fl owers can be enjoyed during
the earliest days of spring.
• Daffodil: Daffodil bulbs
produce cheerful, yellow fl ow-
ers in early spring. They’re
one of the most recognizable
fl owers thanks to their familiar
shape and fragrant aroma.
• Lenten rose: Hellebores,
also called the Lenten rose or
Christmas rose, can tolerate
light frosts. These blooms get
their name from the time of year
when they bloom, which is typi-
cally around the Christian Lent-
en season. Despite their name,
these delicate fl owers are not
actually related to roses, how-
ever.
Early-blooming fl owers give
winter-weary gardeners hope
that spring has arrived
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pense, and that won’t neces-
sarily change in retirement.
Even men and women who
have paid off their mortgages
may benefi t by moving to a re-
gion with lower taxes or stay-
ing in the same area but down-
sizing to a smaller home where
their taxes and utility bills will
be lower. Adults who decide to
move to more affordable areas
or into smaller, less expensive
homes can then redirect the
money they are saving into
interest-bearing retirement or
savings accounts.
Many people begin saving
for retirement the moment
they cash their fi rst profession-
al paycheck. But even adults
over the age of 50 sometimes
feel a need to save more as
their retirement dates draw
closer, and there are many
ways to do just that.
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