Utah Insurance

Jim Meader and Dorian are not rich, they must ensure their money is working for them. The Meaderses and his cat of 12 years, Jessie, live in Brentwood, Tenn.., A town of rolling hills about 10 miles south of Nashville. At one time, Meaderses who wanted to retire May 55, they decided target of 60 Now, they think 65 is probably more realistic. “We want to know what is possible,” says Jim. “We want our current standard of living in retirement.” The work of Meaderses Belmont University, a small private university in Nashville, with about 3000 students. Jim, 52, directs the department of art and Dorian, 49, the office director for the Dean of the School of Science. You go to work in conjunction with their Ford Escort 1997.

The couple lives in a comfortable combined salary of about $ 75000 per year. Maybe not vulnerable to attacks of extravagance, as they eat. They appreciate the popular gathering of art and oriental carpets. And Jim is the proud owner of a 1974 Corvette, a gift to itself at its 50th Anniversary.

To finance their retirement, the couple get out of the assets in their university sponsored 403 (b) tax savings plan. Dorian carries the maximum 15% of their wages on the plan. Jim contributes to 12%. The University of matches up to 5% of their contributions.

Together, they have accumulated about $ 195000 in the plans. But their portfolios have lost about 20% of their value over the last 6 months, as the stock market has plunged.

“I’m not upset,” said Dorian, is quite prepared to take risks with their investments Jim. “The market has to go up and down.”

Last Christmas, both Meaderses purchased insurance policy, with dividends from insurance Universal Life purchased years for the payment of premiums. “We were concerned about what we would do if something happens, is that one of us,” says Jim.

A few years ago, Meaderses built a house in the town near Franklin. After living in one year, they found a house for sale in Brentwood track with cedar and overlooking the valley of a bridge on their backs. She knew she would be happy to retire. While it has purchased and other detainees home as an investment.

But the Meaderses two mortgages. The rent of the house they have built only covers the mortgage and expenses. Your current dilemma: if they meet the rental house until she pays roughly 10 years and use of rental income to fund retirement? Or should they sell the rental house, after a few own funds and use revenues to help pay arising from the mortgage on the house they live?

The Meaderses admit that they are not the most disciplined savers. Regardless of their entry into the pension, they have an emergency fund of more than $ 14000 in a money market fund and $ 5000 a certificate of deposit.

They are not a lot of interest in investments outside of their pensions. More than a year ago, it invests more than $ 300 in the restaurant chain Shoney’s on an account online brokerage E-Trade. You soured on the idea, after losing about $ 70 “We have high and selling low,” said Dorian. “Go yourself, you really too disciplined and stay with it.”

The Meaderses would much prefer to spend their free time, in fact, what they enjoy - The path antique shops on weekends and holidays. You recently returned from a trip to 3 weeks old road along 66 to lead Los Angeles. One of the best parts of the trip was visiting the Utah Capital Reef National Park. “It was very beautiful,” said Dorian.