Working longer means a better retirement

ears ago, I wrote an article that warned people not to place too much faith in their ability to work longer to fund retirement. The risk was abundantly clear: Just because you want to keep toiling, does not mean that you will be able to do so. For some, there will be physical limitations and for others there may not be a job. That’s why nudges like me encourage you to save diligently during your working years.

Of course, if you are sandwiched between the obligations of kids and aging parents or find yourself in your 50s without enough banked, you have two other options: Spend less in retirement and/or delay the age of retirement. The latter is the focus of this column, because working longer can have a significant impact on your retirement years. That’s because a delay allows you to continue contributing to your 401(k) or IRA; it allows your savings and investments a longer time to grow; you avoid early withdrawals from your nest egg; and you can wait to file for Social Security retirement benefits, which results in a larger monthly check for the rest of your life.

A recent paper by the National Bureau of Economic Research confirms this common sense notion. Retiring at age 66 instead of 62, for instance, can increase a retirement standard of living by almost 33 percent. Hang in there until age 70 and your standard of living will improve by nearly 75 percent. The authors of the paper note: “The results are unequivocal. Primary earners of ages 62 to 69 can substantially increase their retirement standard of living by working longer. The longer work can be sustained, the higher the retirement standard of living.” Even working a few more months can increase retirement income by 2 percent!

Another key insight of the analysis is that as we get older, some decisions, such as how much to save in retirement accounts going forward, become less instrumental in changing the affordable retirement standard of living. “Saving an additional 1 percent of earnings, for instance, would affect the retirement standard of living much more at age 36 than at age 56,” the bureau points out. And fretting about performance and cost of the investments inside of your retirement “diminishes with age since there are fewer years to enjoy the benefit of a lower-cost portfolio.”

Steve Vernon, a consulting research scholar at the Stanford Center on Longevity and contributor to CBS MoneyWatch.com, notes that for middle-income workers (defined as those with less than $1 million in retirement savings), one of the most important decisions to make is “when to leave the paid workforce and whether to work part time for a period until full retirement.”

According to the Society of Actuaries, Americans who reach age 65 are projected to live another 21 years to age 86, on average. If these same Americans reach age 86, their life expectancy would extend to age 93!

If you want a general idea of how long you might live, you can check out a couple of different resources. Livingto100. com is a calculator that asks 40 questions related to your health and family history and takes about 10 minutes to complete. At the end, you will be asked to create an account to store your answers. (When I completed the survey, the result was 100 even!) You can also go to the Society of Actuaries Longevity Illustrator, which estimates the probability that you will live for a certain number of years, based on four simple inputs. In my case, there was an 86 percent chance that I will survive another 25 years. your artistic abilities with Arbour Square! Arbour Square Independent Living is pleased to invite seniors to free Art Class, every 2nd and 4th Friday of each month at 1 p.m. Seniors, pick up a new hobby or enhance an existing one when you join the residents at Arbour Square for a Watercolor 101

class. Local artist Louisa Wismer will be guiding attendees through the class. After class, take a tour of the community and see what makes the Arbour Square campus so great! This event is free and open to the public; however, RSVPs are appreciated. Please RSVP by calling 215-5134250.

AMBLER SENIOR ACTIVITIES CENTER

45 Forest Ave., Ambler, presents a variety of activities daily, including fun and fitness, table games, cards, yoga, ballroom dancing, piano lessons, woodcarving, billiards, computers, knitting and crocheting, 8 a.m. to 4 p.m., with lunch served at noon. Wii games 10:30 a.m. Mondays. Call if you can offer an hour a day, weekly or monthly. New aerobic dance class for those over 50 is being offered 9 to 10 a.m. Mondays and Wednesdays. Free once, then members pay $2. Individuals can support the Ambler SAAC by designating their United Way gift to its donor number, 00108. Information: 215-619-8863. The center is located at 45 Forest Avenue, Ambler. For more information, call the Penn State Extension office in Montgomery County at 610-489-4315.

BOOMER UNIVERSITY

45 Forest Avenue, Ambler. Boomer U at Ambler SAAC provides a welcoming place where baby boomers and the boomer-minded can discover a variety of resources to volunteer, pursue civic engagement, re-career and find employment, as well as engage in lifelong learning, embark on healthy lifestyles and enjoy social connections in a community for all ages.

BRIDGEPORT SENIOR CITIZENS

Bridgeport Senior Citizens meet at 1 p.m. Wednesdays at Ancient Order of Hibernians (AOH), 340 Jefferson St., Swedesburg. Activities include Bingo, card-playing, horse racing, and occasional speakers on timely subjects. Light refreshments available. Casino trips run monthly. New members welcome. Casino trip information: 610-2752517. Other: 610-272-1253.

BRIGHTVIEW SENIOR LIVING

Brightview Senior Living and its parent company, The Shelter Group, successfully create and manage innovative, award-winning senior living communities in the mid-Atlantic to New England region. For more information on Brightview Senior Living, please visit www.brightviewseniorliving. com

ENCORE EXPERIENCES AT HARLEYSVILLE

Greater Harleysville and North Penn Senior Services (GHNPSS) operates both Encore Experiences in Harleysville and The PEAK Center in Lansdale. The mission of Greater Harleysville and North Penn Senior Services is to provide access to programs and resources that help older adults live independently and remain active. Both centers offer health and wellness, a meal program, social service assistance, enrichment events and more. Visit their website at www. encoreexperiences. org to learn more. Encore Experiences in Harleysville, 312 Alumni Avenue, Harleysville, PA 19438, 215256-6900.

GENERATIONS OF INDIAN VALLEY

Generations of IV is located at 259 N. Second Street in Souderton. It is a place of welcome for community members age 55+ in The Indian Valley and beyond with programs in wellness, fitness, nutrition, social services, recreation and travel. Weekday fitness offerings, lunch, cafe, activities, support, trips and more. For more information, call 215-723-5841 or visit www.generationsofiv. org. Generations’ Meals on Wheels program serves the Indian Valley and North Penn Areas. For more information Meals on Wheels: 215-7238555.

HOMETOWNERS SENIORS OF WEST CONSHOHOCKEN

Hometowners meet on the second Thursday of every month at 11 a.m. on the first floor of the George Clay Firehouse. Information: 610828-5740.

LOWER PROVIDENCE COMMUNITY CENTER SENIOR CITIZENS

Lower Providence Community Center Senior Citizens meet at 10 Parklane Drive, Eagleville every Wednesday from noon to 3 p.m. at the center. Refreshments and Bingo offered. Information: 610-831-5153.

MEALS ON WHEELS

Neighborhood Meals on Wheels volunteers delivers meals to residents of the Upper Merion School District. Deliveries are available for those unable to shop or prepare meals for themselves on a temporary or permanent basis. One hot and one cold meal are delivered Monday through Friday. We are a non-profit organization serving Upper Merion for over 40 years. We are also always in need of volunteers to pack or deliver meals on a weekly, monthly, or substitute basis. Volunteers are needed from 9:15-10:45 or 10:45-12:15. You can contact us at 610265-7051, email MealsonWheels.UM@gmail.com or at NeighborhoodMealsOnWheels.com. Montco SAAC Located at 536 George Street, Norristown, SAAC is open weekdays, 8 a.m. to 4 p.m. The center needs drivers for the Meals on Wheels program to assist homebound elderly. Volunteers can help out from once a month to once a week. THRIFT SHOP is open 10 a.m. to 1:30 p.m., Monday through Friday. DANCE CLASS is held every Monday at 10:30 a.m. EXERCISE WITH MEG for every Monday, and Wednesday, at 1 p.m. FEELING CRAFTY? Then join our crafty crew, at Montco SAAC at 12:15 p.m., when we will be making handmade soap. Cost is $2.00 to cover materials. Information: 610275-1960.

MONTCO SENIOR CONCERT CHOIR

Practices are every Wednesday at 10 a.m. at United Church of Christ (corners of West Marshall & Noble streets) in Norristown. This is a volunteer choral group who have been providing concerts for local organizations for over 40 years If interested, please contact our President, Bill Gildea at 610-631-9134, or our Director, Tedd Didden at 215-646-0294 for more details. Our only requirement is that you are 55 years of age, or older. Join in the fun singing a large variety of upbeat music to appreciative audiences. All voice parts are welcome!

NATIONAL ASSOCIATION OF ACTIVE AND RETIRED FEDERAL EMPLOYEES (NARFE)

Chapter 372 holds its regularly scheduled luncheon meetings the first Wednesday of every month 1 p.m. at Facenda-Whitaker Lanes, 2912 Swede Road, East Norriton. Information: 610-3822752.

NORRISTOWN MEN’S RETIRED BOWLING LEAGUE

Bowling league for ages 55 and over is looking for bowlers. All are welcome regardless of bowling average. The league meets to bowl every Thursday from noon to 3 p.m. If interested, call Pete Crescitelli at 610-630-6165. Greater Harleysville and North Penn Senior Services (GHNPSS) operates both The PEAK Center in Lansdale and Encore Experiences in Harleysville. The mission of Greater Harleysville and North Penn Senior Services is to provide access to programs and resources that help older adults live independently and remain active. Both centers offer health and wellness, a meal program, social service assistance, enrichment events and more. Greater Harleysville and North Penn Senior Services (GHNPSS) operates both Encore Experiences in Harleysville and The PEAK Center in Lansdale. The mission of Greater Harleysville and North Penn Senior Services is to provide access to programs and resources that help older adults live independently and remain active. Both centers offer a place of comfort, fellowship and care to the seniors in our community. For more information on our programs contact: Encore Experiences in Harleysville, www.encoreexperiences.org, 215-256-6900 or The PEAK Center, www.peakcenter.org, 215-362-7432.

PRESENTATION OF OUR LORD UKRAINIAN CATHOLIC CHURCH

Presentation BINGO will be held on the 1st and 3rd Wednesdays during the winter. Doors open at 5 p.m. with food available for purchase and the games begin at 6:45. Admission is $10 for boards, $15 for paper. Please join us at Presentation of Our Lord Ukrainian Catholic Church, 1564 Allentown Rd, Lansdale. For more information: 215-362-9599.

RSVP OF MONTGOMERY COUNTY

(Retired and Senior Volunteer Program) offers free, confidential Medicare sessions throughout the area. For information, call 610-4891555 or 610-834-1040, ext. 20. RSVP promotes volunteer service among area senior residents, age 55 and older seeking ways to be active and fulfilled by giving to their communities.

ST. MARY’S GOLDEN AGE CLUB

The club meets Thursdays, 9 a.m. to 3 p.m. at the church hall, West Elm and Oak streets, Conshohocken. At 9 a.m., card games; 10 a.m., snacks; 11 a.m., lunch; noon to 2:30 p.m., Bingo. Membership is $10/year, $2 donation weekly includes snacks and lunch. Casino trip, second Tuesday of every month. Any interested person over 55 is welcome. Contact Pat Monastero 610-279-4882 or Joe Koza 610-825-4596.

ST. FRANCIS OF ASSISI SENIORS

The members meet at the parish’s former convent on Buttonwood Street, the first and third Tuesday of each month from 1 to 3 p.m. Bingo, refreshments, speakers and bus trips are offered. Newcomers are welcome.

UPPER MERION SENIOR SERVICE CENTER

431 W. Valley Forge RD. (in the new community center), King of Prussia, 610-265-4715 - WEBSITE: www.umssc.org. VALENTINE HOAGIE SOCIAL: FRIDAY, FEBRUARY 16 - 11 am to 2 pm. Tickets $7.00 purchase before cut off date of Friday, February 9. Door Prizes and entertainment. Hoagie Choice of Italian, Tuna or Turkey. Entertainment will be provided by our own UMSSC Band. Open to members and non-members. SICILIAN DELIGHT PIZZA: Friday, February 23 - ($3.00) at 11:30 am movie (free) starts at 12:15 pm this month: “Goodbye Christopher Robin” starring Domhnall Gleeson, Margot Robbie, Kelly Macdonald. A behind-the-scenes look at the life of author A.A. Milne and the creation of the Winnie the Pooh stories inspired by his son C.R. Milne. Must sign up (and/or pay for pizza) at info desk by Thursday. February 22. UMSSC BIG BINGO CA$H PRIZE$: Sunday, March 4, 2018. Advance Sale Tickets*: $20.00 Day of Tickets*: $25.00 Doors Open 11 AM Games Start 12 PM Refreshments for sale**. (*No One Under Age 18 Will Be Admitted **No Outside Food or Beverage Permitted) Registration Forms are available at the Info Center in the Lobby or on our website UMSSC.org. BAND PRACTICE & INSTRUCTION: Tuesdays from 12:45 to 2:45 p.m. The UMSSC Band practices under the direction of professional musician, Ed Hickman. Open invitation to anyone age 55 or over interested in playing with a group (must become a member of the senior center). Stop in any Tuesday afternoon to listen or to join the band. BINGO: Thursdays at 10:15 a.m. Cash prizes! CANASTA: Wednesdays at 12:30. Coordinator: Lynn Boroch. Beginner players will be welcome for instruction by Lynn (Wednesday). Notify the office to coordinate. BLOOD PRESSURE CHECK: Second and fourth Thursday of the month from 10:15 am to 12:45 pm. BOOK TALK: 3rd Monday of the month at 1 p.m. Coordinator: Patricia Ackah. COMPUTER CLUB: Tuesdays 9:30 AM to 11:30 AM. Coordinators: Herman Natanblut and Howard Lurie. Meetings are open to all members, all ability levels. The Computer Club will be glad to answer any technical questions members have. CURRENT EVENTS DISCUSSION GROUP: Mondays at 10:30 AM in the Lounge. Coordinators: Joan Shaw and Paul Buce. The group continues to meet. As usual there are more than enough topics to fill the hour and a half. The group has continued to grow, but there’s always enough room for one more. FUN & FITNESS (formerly Chair Exercise): Tuesdays at 11:30 AM to 12:15 PM and Thursdays from 12:30 PM to 1:15 PM. $3.00 per class. KNITTING & CROCHETING: Tuesdays at 1 PM. Coordinator: Patricia Ackah. Instruction provided. Hand-made items are for sale and all proceeds benefit the Center. MAHJONGG: Mondays at 9:30 AM. Coordinator: Lynne Boroch. All level players are welcome, even beginners! Come in and learn to play this very popular game. PINOCHLE LADIES AND GENTS: Tuesdays at 12:30 AM and Fridays at 9:30 AM in the Game Room. They welcome more players. QUILTING: Fourth Wednesday at 9:30 AM. Instructor: Ethel Hutchinson. All levels welcome! SINGA-LONG: Fridays at 10:00 to 11:30 AM. Coordinators: Theresa M. Smith and Dot Morio; Pianist: Ed Wenger. Come in and enjoy singing some old favorites together. TAI CHI: Wednesdays at 12:00-12:45 PM. Video Instruction good for beginners, intermediate or advanced. WEDNESDAY CARD PLAYERS: Wednesday at 9:30 a.m. An informal, friendly gathering of members- some play cards some play bingo. Everyone has fun! YOGA: Mondays at 1:30 PM. Video Instruction good for beginners, intermediate or advanced.

WEST NORRITON SILVER CIRCLE

Silver Circle meets third Wednesday of each month at 7 p.m. at Jefferson Golf Club from now until June. Dues are $5 a year, $2 monthly membership and $3 for guests. For information contact Florence Bruno at 267-226-0873.