Show another 20 or 30 years so you're still investing for the long term But especially if your nest egg is modest you should begin shifting much or all of it to really safe investments that produce income you can rely on Every broker and insurance agent in the world will want to help you with this But beware: The best investments are often the simplest that pay the lowest sales commissions—and thus are the least likely to be brought to your attention For example: el You may do just fine switching from stock (you've set up your IRA say or joined your compaplan) and once you begin to see ny's your savings mount writing those checks becomes gs payroll-savin- less and less a sacrifice more and more a satisfaction By sticking to your plan you'll be building a secure future for yourself and not incidentally for your children Because a country that saves for the future builds a strong future A country that lives off borrowing and Social Security is a country in decline no-lo- ad mutual funds to andor no-lo- ad government-bon- d funds that specialize in relatively safe utility stocks or convertible bonds If you've placed your IRA with a "family" of funds doing so may take no more than a phone call II You might earn a good return by accelerating the payments on your mortgage so you own your home frft and clear at retirement Not having to pay interest on an 85 mortgage is just as good as earning 85 no-loa- ds risk-fre- high-yieldi- ng e EE US Savings Bonds currently yield 6 if held five years They're free of local tax and you can defer the federal tax until you cash them in so your money compounds faster Chances are you'll be able to keep rolling them over deferring the tax until you retire—and then roll them over into Series HE bonds designed for retirees Ask your bank for details El If you can afford it you might consider investing in a retirement condo and renting it out in the meantime Condo prices remain low in lots of nice places Ill Series AND IF YOU'RE ALREADY RETIRED Chances are you're already doing all the right things You've ponied up your $5 to join the American Association of Retired Persons so you're up to date on the latest seniors' discounts and on the worrisome issue of health care You're over 55 and the kids are long gone so you've taken advantage of the one-ti$125000 on gains from the sale of your house and moved someplace cozier and less expensive You may even have purchased Time Dollars (Rodale 11 11M Press) a blueprint for volunteering your time now while you're vigorous and healthy in return for "time dollars" that will entitle you to assistance when you need it (Says Ralph Nader 'Tune Dollars could sweep the nation to higher levels of care compassion and enjoyment") About the only thing you're not doing is hitting up your kids for help—even though they sure hit you up for help once upon a time Well why not send them this article to help them start planning for their own retirements? Maybe if you do need help they'll see this paragraph and take the hint Okay Enough You think 1 like preaching like this? No (Well maybe just a little) But gradually becoming a nation of savers instead of a nation of spenders is one of the most important things we can do And one last thing: For heaven's sake make a will 11 Everybody ought to have a will Andrew Tobias one of the nation's foremostfinancial writers is creator of the best-sellisoftware program "Managing Your Money" it:li 1114 I e PIO 0 Consider annuities—but think twice With an annuity your investment grows free of tax until withdrawal like an IRA and with no limit to how much you can invest (But if it's a tax advantage you're after why not buy municipal bonds—"general obligation" bonds are safest—on which tax is never due?) The real advantage of an annuity if you can get one from a sound company at a good price is that it guarantees to pay as long as you live That's a good bet if you wind up living unusually long but only a fair or poor bet otherwise Also not every company that sells annuities will be around 30 years from now to keep its promises and "illustrated" payouts are often far higher than the "guaranteed" payouts which are all you can really count on t t 41' Don't get hung up on the fine points agonizing over the absolute smartest place to invest your money or the precise "right amount" to save The main thing as with exercise is simply to do it Unless you put your retirement savings someplace really dumb you'll do just fine - 8 Don't put your savings someplace really dumb We've all read about far too many older peo-pie who've lost their life's savings When in doubt be conservative Whenever lane sums are involved deal with large established companies (not just companies that sound large and established) If a broker or salesperson makes promises ("You can't loser) have him put those promises in writing But re- tirees often do best not dealing with a stockbroker or insurance agent for three reasons: First salespeople are expensive Their fees come out of your investment Second salespeople have a natural bias toward their own product line emphasizing its benefits rather than its costs and risks Third sales folk are for the most part really nice people! You will find it very hard to turn them down STICKING TO YOUR PLAN It gets easier At first you have to make decisions fill out some forms and lock up cash that would rather The remadcable story of a yams woman who found 400 the sister she thought was r dead ? 411K - U 1 00 00 and the love she never knew she had h run outside and play But once that's behind you PARADE AIKAIINE APRIL 26 1932 mu 11 4 I I l iimp io'491filipt(olow Ig3 ( |