60 is the new 30! That’s the word from billionaire Carlos Slim.  Having had a milestone birthday myself this past June, I was very happy to hear this good news.

As they say, you are as young as you feel!  No matter how young you feel, however, reaching these milestones immediately turns your thoughts to the future. Where will I live, what will I do, where will my children be, will they even want me around?   I have always believed that thinking ahead to what your retirement will look like is a positive.   We all want to believe there is a magic number as to what age and how much money we’ll need, but it is never that simple.  Thinking ahead gives you the luxury of creating options and pre-planning.

     The most overlooked retirement pre-planning tool is maximizing your retirement contributions.  When you reach 50 years of age, there is a catch-up contribution, allowing you to contribute more money on a tax-free basis to your retirement account.  For example, if you have a traditional IRA, the maximum contribution is $5,000. If you are 50 or over, the maximum contribution becomes $6,500.

   Please feel free to call me if you are unsure of your maximum contribution and keep me posted on your retirement dreams!

Warm regards,


Catherine Maniscalco Avery


The backbone of CAIM is to employ a classic long term investment strategy including dividend paying stocks. CAIM is an independent, women owned investment management firm specializing in managing investment portfolios for women and baby boomers.

203.966.2712  p
203.966.5697  f

September 13, 2013|  Issue No. 45
In This Issue
Only The Wealthy
Mrkt Update 2/4
The 7 Habits

Quick Links

Find Out More
Call me at 203.966.2712
or visit www.caimllc.com.


Only the Wealthy Never Retire


     Like most of us you’ve probably pondered the question more than once:  when am I going to be able to retire?   Maybe you just can’t wait and ‘now’ isn’t early enough.  Or perhaps you like the thought of continuing to work well into your retirement years?


Whatever your own personal thoughts, plan or options might be, times certainly have changed as far as the very wealthy are concerned, according to a recent CNBC article: “Why the rich never retire.”

It used to be a popular notion that everyone’s goal was to retire young and rich.  But no more, says a survey put out by the Spectrum Group, a wealth research firm.

Stats from the survey show that America’s highest earners, those making $750K or more, in fact have no plan to retire until they’re at least 70 years old.    You may find this hard to believe but these figures are backed by earlier studies.  Like one from Barclay’s Wealth in 2010, that found “globally, 60% of those with a net worth of $15 million or more plan to stay involved with work, no matter what their age.”

How can this be?  Why would someone with all the money in world want to keep on working?    For one, it seems that many of the super affluent are entrepreneurs and independent business owners.  As solopreneurs their businesses depend on their presence, so many must continue to work until they have a succession plan, or a buyer in place, or business will shut down.

But that’s not the main reason that those who can best afford to retire are the ones now working the longest.

The principal reason, according to George Walper, president of Spectrum, is that most entrepreneurs love their work and can’t see themselves not doing it.  It’s as simple as that.  In fact billionaires like Carlos Slim, 73, argue that in today’s industrial economy, where the call is for knowledge, experience and information (as opposed to physical labor), your 60s are often your prime working years.  Yes, 60 is indeed the new 30!  With that outlook, Slim points out. it would be foolish to stop working young.it would be foolish to stop working young.


A second interesting finding from the Spectrum survey is that the majority of lower income brackets surveyed, do plan to retire at 65.   Clearly, in more traditional jobs, where often “a job is just a job,” employees indeed cannot wait to leave.

But those affluent soarers love their work and even if they do ‘retire’ per say, many continue to serve on boards, advise their companies or work the phones.  Even if it’s just for a few days a week or from different locations (Bora Bora anyone?)   To them, that’s retirement.


Market Update – 2nd Quarter

While economic growth has not been spectacular, we are making some progress.

The S&P 500 continued….


The 7 Habits of Highly Effective Investors   

1.  Be Proactive

Being proactive is the number one priority for successful investing.  As an investor you need….Read more >>