Issue link: https://www.ifoldsflip.com/i/1423382
Do you want to meet interesting people, make new friends and stay active? MONTEREY BAY RSVP CONNECTS CARING FOLKS AGE 55 AND UP WITH NON-PROFIT AGENCIES THAT NEED VOLUNTEERS. Our volunteers provide an invaluable service to local agencies by sharing their lifetime of skill, talent, and knowledge. We work with individuals and non-profit agencies in Santa Cruz, Monterey, and San Benito Counties. RSVP VOLUNTEERS LIVE HAPPIER, HEALTHIER LIVES! ENRICH YOUR LIFE AND BENEFIT YOUR COMMUNITY. RSVP is a program of AmeriCorps Seniors. The Monterey Bay Chapter of RSVP is run by the Volunteer Center of Santa Cruz County. scvolunteercenter.org 831-224-3874 JOIN TODAY! STAY ACTIVE AND ENGAGED Thank you all for your support Thank you all for your support these last 12 months with our monthly section, "Young at Heart" We have really enjoyed working with our local businesses catering to the 55+ over crowd this past year. (A crowd I just joined this month!). There are so many great things to do in our car- ing community and this has been a great avenue to promote them to our growing readership. If you have something to promote to an active baby boomer communi- ty, and a few of us Gen X'ers on the cusp, then please reach out to me for more information. It takes a village and we have a great one here in Santa Cruz County! ANSWERS T h e c o s t of waiting to save for retirement By Metro Create Patience is a virtue, but waiting can be costly in regard to saving for retirement. A 2019 report from the Economic Policy Institute found that nearly half of families have no retirement account savings at all. Individuals who have delayed saving for retirement could find them- selves in difficult situations as they near retirement age. Assuming an 8 percent rate of return on money deposited into a retirement account like a 401(k), an individual who begins depositing $6,000 annually at age 20 will have roughly $1.7 million in that account in 40 years. By waiting un- til age 40 to begin making the same annual contri- butions and assuming the same rate of return, an in- dividual would end up with less than $300,000 in his or her retirement account at age 60. That's a sizable disparity and one that could make the difference between a comfortable retirement and one plagued by financial difficulties. Catch-up contributions allowable by the Internal Revenue Service can help men and women over 50 build their retirement savings. However, the most effective way to save for retirement is to begin early and to continue doing so throughout adulthood. By Steve Bennett Director of Operations and Advertising (831) 429-2416 sbennett@ santacruzsentinel.com