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
10 The Jewelry Business Magazine Continued to Pg 12 Sustainable Prosperity in Your Personal Lives One form of dependable income stream is the traditional pension. Offered and funded by governments municipalities corporations and schools among others pensions have historically been a pillar of wealth management and retirement planning. Pensions or defined benefit plans typically pay a monthly stipend the defined benefit to retired workers during their lifetime. Some pensions may also pay a percentage of the monthly payout to the workers spouse when the retired worker dies. Pensions are still available for a few but they are gradually being replaced by self-saving mechanisms such as 401ks or defined contribution plans so-called because you define the contribution that you make to your own retirement plan. This transfers the responsibility of sustainable prosperity onto you the individual. A Pension Worth Protecting Social Security is a government-funded pension created in 1935 by Franklin Roosevelt. It was designed to provide assistance for and encourage older workers to leave the workforce to make room for younger workers in a time of high unemployment. Social Security is unusual in that the U.S. government guarantees that the benefit will grow by 8 for every year the individual waits to take it from age 62 to 70. Due to unexpected downsizing or poor health many cannot afford to wait. Social Security is a second pillar of retirement planning and is particularly valuable for women who tend to live longer than men. In 2013 nearly half 49 percent of all elderly unmarried females including widows receiving Social Security benefits relied on Social Security for virtually all 90 percent or more of their income. In 2013 the average Social Security benefit for women was 12857 about one-fourth less than men. Social Security is an important benefit for all retirees that is worth protecting. Too Young For A Pension Personal savings is a foundation of wealth-building and a third pillar of retirement planning. Dividend stocks may offer sustainable prosperity in the form of cash dividends paid out to shareholders quarterly which are backed by the corporation. Dividends are a major reason that shareholders such as individuals retirees mutual funds and large pension funds buy their stock so they go to great lengths to maintain and even increase their dividends. An affordable way to buy dividend stocks is to purchase a minimum number of shares typically 100 shares and then use the companys dividend reinvestment plan to buy more shares. This is accomplished by reinvesting the dividends and by making monthly or quarterly purchases that may be as low as 50 increments. This is especially ideal for individuals just starting out young parents or graduates who are paying down tuition loans. By Donna M. Phelan Sustainable prosperity conveys the idea of prosperity that is dependable and endures through time. One of the best ways to sustain prosperity is to create as many stackable income streams of recurring revenue as possible to fund your income needs. CREATE SUSTAINABLE PROSPERITY Sustainable Prosperity in Your Personal Lives A Pension Worth Protecting Too Young For A Pension How to Create Sustainable Prosperity Disruptive Strategies for Sustainable Prosperity Sustainable Prosperity in Your Jewelry Business Sustainable Legacy One of the best ways to sustain prosperity is to create as many stackable income streams of recurring revenue as possible to fund your income needs. Sustainable prosperity conveys the idea of prosperity that is dependable and endures through time.