Family Focus

The Credit Union Perspective

SPONSORED BY
BEST SOURCE CREDIT UNION

By: John Normandeau, President/CEO
BestSource Credit Union
Are you ready for Retirement?

Here are a few key areas to consider as you approach re-
tirement: How much will you spend? It is estimated that
you'll need 80 percent of your current income to live as
you do today. But everyone's situation is different. For
instance if you still have a mortgage you are paying off
then putting off retiring until that is paid off will mean
John Nonnandeau, CEO
you'll need far less money.
Will you receive a pension? If your employer sponsors a defined-benefit plan, you won't
have to rely as heavily on your personal savings to supplement your benefits from Social
Security. But make sure you really have a pension coming to you before you spend the
money that you should be investing in your 401(k) plan.

Do you know how much you'll get from Social Security? Each year, a few months before
your birthday, the Social Security Administration sends you a statement detailing your
earnings history and showing how much you'll collect if you retire at full retirement age,
or at 70.

Is your portfolio well diversified? You can sock away a ton of money in your 401(k)
plan or an IRA, yet still be unprepared for retirement. One common mistake is stashing
too much cash in your employer's stock. If it sinks, you could be one of those unlucky
retirees who must go back to work. You should keep no more than 10 percent of your
portfolio in your employer's stock.

Another common mistake, is to avoid stocks and put all your assets into fixed-income
securities like bonds. Doing this means you won't have any money invested for growth,
so you won't be able to keep up with inflation over a retirement that can last 30 plus
years.

At BestSource Credit Union our mission is to improve our members' financial lives.
Stop by a branch or give us a call at 800.666.4500 to see how we can help you achieve
your goals. For more information, visit www.bestsourcecu.org .

I3EST SOURCE

Improving Members' Financial Lives

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g esigner Inspired • cThe Oest for obsess

JEWELRY & ACCESSORIES

Olivia Adelson and Shoshana Silow enjoy potato latkes.

Fun For All

Hillel eighth-graders throw
Chanukah bash for first-graders.

Abby Siegal and Ellie Ginis
Teen2Teen Staff Writers

0

n Dec. 3 at Hillel Day School
of Metropolitan Detroit in
Farmington Hills, the first- and
eighth-graders enjoyed their traditional
Chanukah latke party. They spent their
afternoon full of Chanukah spirit and hav-
ing the time of their lives.
A small group of eighth-grade students
had a great time planning this special

event. Student volunteers met weekly for
a month prior to the party, arranging the
special activities. At our weekly meetings,
we divided into four groups to create and
implement activities the first-graders
would love, such as a scavenger hunt, an
obstacle course, a trivia game and dreidel
coloring.
The eighth-graders led first-graders to
visit each activity. Afterwards, everybody
joined together for delicious latkes and
Chanukah cookies. The room was filled

ir •

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Fun For All on page 50

December 16A 2010

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