Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 80 Page 81 Page 82 Page 83 Page 84 Page 85 Page 86 Page 87 Page 88 Page 89 Page 90 Page 91 Page 92 Page 93 Page 94 Page 95 Page 96 Page 97 Page 98 Page 99 Page 100 Page 101 Page 102 Page 103 Page 104 Page 105 Page 106 Page 107 Page 108 Page 109 Page 110 Page 111 Page 112 Page 113 Page 114 Page 115 Page 116 Page 117 Page 118 Page 119 Page 120 Page 121 Page 122 Page 123 Page 124 Page 125 Page 126 Page 127 Page 128 Page 129 Page 130 Page 131 Page 132 Page 133 Page 134 Page 135 Page 136 Page 137 Page 138 Page 139 Page 140 Page 141 Page 142 Page 143 Page 144 Page 145 Page 146 Page 147 Page 148 CHESTERCOUNTY-LIFE.COM / November/December 2016 101 years ago, both spouses were fully protected when they were transferred to an assisted living facility (ALF). “We properly prepared for their ongoing care and financial manage- ment. The insurance pays for the ALF, and their Social Security and pension will be untouched. Planning for this possibility has helped preserve their estate, leaving more for their children.” Bob’s comprehensive approach to man- aging clients’ finances enables families to be comfortable and secure during retirement. “There are many challenges to face at this stage of life. It’s pragmatic to begin explor- ing options, such as long-term care insur- ance, in your 50s.” SIMPLIFYING SOCIAL SECURITY By the end of 2016, 3.4 million baby boom- ers will have reached age 70. Some of them began collecting Social Security a few years ago. Others are waiting. Because of compli- cated changes in claiming rules, which went into effect April 30, countless pre-retirees were confused and remain so. In February, Money magazine summarized new deeming requirements: • As of April 30, no one younger than 62 at the end of 2015 could avoid deem- ing rules, which require fil- ing for all eligible benefits at the same time. That ability was key to the file-and-sus- pend strategy – one member of a couple would file for just a spousal benefit at full retirement age. The other member could file and sus- pend his or her benefit, allow- ing payouts of both individuals to grow at eight percent a year through delayed retire- ment credits until age 70. File-and-suspend is no longer allowed. Bob notes that many baby boomers didn’t know if they were grandfathered into the old benefits system. “The public’s bewil- derment is understandable. To compound the chaos, some individuals were provided misinformation when they contacted their local Social Security offices. Fortunately, we were here to provide answers, eliminate the confusion, and take action to collect ben- efits. Going forward, we recommend that a couple should focus on maximizing their lifetime benefits. Postponing full retirement benefits until age 70 will provide a higher monthly benefit, but not necessarily the highest lifetime benefit.” A survey conducted by AARP (American Association of Retired Persons) indicates a wide percentage of Americans approaching retirement seriously lack knowledge to make the best decisions for their future. Compre- hensive Financial Advisers welcomes anyone with concerns and questions about retire- ment or financial planning. “Meet with us before the holidays and look forward to 2017 with the confidence of clarity by re- viewing your total financial picture,” invites Bob in conclusion. CCL Comprehensive Financial Advisers 561 Exton Commons Exton, PA 19341 610.524.9761  Securities and advisory services offered through Com- monwealth Financial Network® , Member FINRA/SIPC, a Registered Investment Adviser. Comprehensive Finan- cial Advisers is a Registered Investment Adviser. Addi- tional advisory services and fixed insurance products and services offered by Comprehensive Financial Advis- ers are separate and unrelated to Commonwealth. As you shop for holiday gifts, wrap packages, and savor delicious food, your mind may meander just a bit to financial concerns. There are a few prudent recommendations to consider before 2016 closes. Robert O. Smith, MS, CFP® , CLTC, offers suggestions. Financial Tips to Impact Your Bottom Line • Maximize your retirement plan contribution. • Avoid the 50 percent penalty by taking your 2016 required minimum distribution from your retirement plan before year end. • Use appreciated stock for charitable contributions. • If you are a resident of Pennsylvania, you can save for college by contributing to a 529 plan and receive a tax deduction on your PA return. • Rebalance your investment portfolio. • Sell investments with a loss to reduce your taxable income. • Review and update your will, living will, and power of attorney; be sure to check beneficiary designations for retirement plans and life insurance policies, as well. • Create a plan to manage long-term care needs. Smith’s comprehensive approach to managing clients’ finances enables families to be comfortable and secure during retirement. Pictured are clients Jema and George Marion of Marion & Associates, LLC.