“Without failure who would you be?”

                                                      ~Nick Foles

September, 2018

Are You Ready?

We are often asked those three words as clients and individuals prepare for retirement… Are You Ready? As parents, much of our financial lives have been spent planning for and consumed by the expense of raising children, but now that those little ones have grown and left the nest, it is time to refocus back to our financial goals and planning. Though your focus may have been shared with other priorities over the last many years, now is the time for YOU! Retirement is facing you head on!  Are you ready???

The answer to that question is different for everyone.  It is important to evaluate your expenses, your current income, your family situation and so on.  Fidelity recently published a great article with guidelines, for saving while you are working and some key timelines to get you to that magic number so you feel prepared for a comfortable and enjoyable retirement.  In reading the suggested guidelines, you may feel relieved in your planning or slightly unprepared. Financial planning and retirement preparedness is a complicated process. Rely on someone you trust to offer advice if you don’t know what steps to take.  

Attached are the frightening facts about financial planning for retirement from Fidelity:

By age 50, retirement plan provider Fidelity recommends having at least six times your salary in savings in order to retire comfortably at age 67. By age 55, it recommends having seven times your salary.

According to Fidelity, as of the second quarter of 2018, those between 50 and 59 years old with a 401(k) had an average balance of $174,200 and were contributing 10 percent of their paychecks. On average, employers were matching 4.9 percent, putting the total savings rate for this group at 14.9 percent.

Fidelity’s data only considers those Americans with a retirement account and so can’t present the full picture. GOBankingRates found in a 2017 report that 40 percent of older Gen Xers (those aged 45-54) and 33 percent of baby boomers (those aged 55-64) have nothing at all saved.

A few basic guidelines to follow if you want to retire comfortably …

For starters, Fidelity suggests that everyone set aside 15 percent of their income in a retirement account. Another rule of thumb, according to Fidelity, is to have 10 times your final salary in savings if you want to retire by age 67. It suggests a timeline in order to get to that magic number:


By age 30: Have the equivalent of your starting salary saved

By age 35: Have two times your salary saved

By age 40: Have three times your salary saved

By age 45: Have four times your salary saved

By age 50: Have six times your salary saved

By age 55: Have seven times your salary saved

By age 60: Have eight times your salary saved

By age 67: Have 10 times your salary saved


Are you on track?

Natalie Fernandez Lee is a professional in the financial industry, proud mother of five and committed to her mission of finding and implementing ways to improve and strengthen the Tucson community.  As a native Tucsonan, Natalie attended the University of Arizona, and after several years of travel, she decided to call Tucson her home as she began raising her family.

Natalie has worked with the Greenberg Financial Group since 2007 and utilizes her more than 20 years in the Financial Services Industry to create better financial futures for her many clients. Retirement planning has been a focus in her career along with working with women and investing.  In addition, Natalie co-hosts the weekly Money Matters radio in a commitment to educate listeners in the areas of finance and personal responsibility.

Natalie is active in numerous non-profit organizations, including the Leukemia & Lymphoma Society, The National Charity League, Integrative Touch for Kids and others.  A priority for Natalie is educating teens and young adults in the importance of saving and investing as she donates her time to speak with different education levels from middle school to college and University classes.  “Lead by example” is a motto that she embraces in order to make an impact on the lives and community around her.

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