WELCOME to the latest edition of Fiscal Fitness! Not too long ago, I was watching T.V. and came across

the movie The Devil Wears Prada. I am a Meryl Streep fan, so I watched laughing out loud at how ridiculous the fashion world can be at times. Don’t get me wrong. I love great clothes but I haven’t made it a priority in my life. Some things in life we take so serious. Yet, when it comes to much more important things, like supporting ourselves during retirement, we tend to glaze over the details. Maybe designer clothes should no longer be a priority.

The Devil is in the details. Systematic investing. Dollar cost averaging. Diversification. These are all terms we hear about, but do we put into practice? Moving in and out of the market can be counterproductive for investors pursuing long-term goals. On Monday, August 24th, we witnessed one of the most extreme trading days in the history of the U.S. markets (as of 8/31/15). Investors were shaken, to say the least. For those of us with a long-term perspective, turning off the news and staying focused on the bigger picture was probably the best choice.

Emotions drive decisions. Impulse purchases. Panic selling in the stock market. Historically, investors have had a very poor track record of timing the market. Do you have a financial “life plan” that addresses the hiccups that are part of a normal market cycle? Now may be the time to re-evaluate your portfolio and your stomach for volatility.

Financial Independence is generally used to describe the state of having sufficient personal wealth to live, without having to work actively for basic necessities1. It’s what most of us strive for. What happens when the paychecks (or alimony) stop? Few people today have a company pension plan. How do you create your own? Social Security alone wasn’t meant to support ourselves in retirement. As we are all living longer, will your investments generate enough income to support yourself for 20 or

30 years in retirement? One of the biggest concerns my clients have are rising health-care costs. Remember, Medicare covers only about 60% of health care costs in retirement and does not cover long-term care. medicare.gov

Have you prepared for health-related retirement expenses? The last thing I want my family to deal with is making tough decisions about long-term care, should the need arise. Note: Most of us are familiar with traditional long-term care insurance policies. For those of us who are self-funding for the what-if scenario, hybrid policies that combine long-term-care insurance with either life insurance or annuities may be an option. Social Security Know your options for taking your social security benefits. Did you know if you are divorced and your ex-spouse is deceased, you can receive social security benefits based on their work history? The following rules apply:• Must be age 60, or 50, if you are disabled• Your marriage lasted at least 10 years• You are not entitled to a higher benefit on your own record

Note: Former spouses who are full retirement age may both file on each other’s record and postpone applying on their own to earn delayed retirement credits. Be aware that a file and suspend strategy could affect your Medicare premiums. For more information, visit:www.ssa.gov/planners/retire/suspend.htmlssa.gov

If you have never taken an active role in how the finances are managed, now may be the time. As a veteran in wealth management, I’ve been advising couples and newly independent women take control of their financial future for over twenty years. Together we can make it happen.

2424 Route 34, Manasquan, NJ 08736800-995-4534www.harborlightsfinancial.com

1. Wikipedia

This information should not be construed as specific tax, legal or investment advice. Investing involves risk, including possible loss of principal. Securities and advisory services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.

The Devil Wears Prada

Debra FournierCERTIFIED FINANCIAL PLANNER™

Certified Divorce Financial Analyst™

About THE AUTHORDebra Fournier, CFP®, CDFA™ is a Principal of Harbor Lights Financial Group, Inc. in Manasquan, N.J. She has been providing comprehensive financial planning and investment advisory services for two decades. As an experienced CERTIFIED FINANCIAL PLANNER™ professional and Certified Divorce Financial Analyst™, her divorce planning services are especially productive where there are complicated financial issues, significant assets or an imbalance of knowledge between the divorcing couple.

Debra currently serves on the executive board of the Jersey Shore Collaborative Law Group and the Academy of Finance at Manasquan High School. She participates in the mentoring program at Monmouth University and is a member of the Association of Divorce Financial Planners and Institute for Divorce Financial Analysts.

She has been quoted in Kiplinger’s Personal Finance Magazine and AOL Daily Finance, has appeared numerous times on Good Day New York and has been featured in the Asbury Park Press section Getting Ahead.

For a private, no-obligation phone consultation, please call 800-995-4534 or email debra.fournier@hlfg.com

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