Long Beach, The Urban Waterfront Playground™, is a city in Los Angeles County in Southern California on the Pacific coast of the United States. It is the 36th-largest city in the United States and the seventh-largest in California. The Port of Long Beach is the second busiest container port in the U.S. and one of the world’s largest shipping ports. The beauty of Long Beach is obvious and the history is intriguing. Here, past and present collide to create a fabulous place for visitors and locals alike.
The RMS Queen Mary is a 1936 Art Deco ocean liner permanently docked at Long Beach. The Queen Mary is famous for being the fastest in the world from 1936 to 1952. It was used during World War II as a troop transport and was purchased by the City of Long Beach in 1967 for conversion to a hotel and maritime museum.
Today, the Aquarium of the Pacific, a nonprofit attraction, is located on Rainbow Harbor across the water from the Long Beach Convention Center, Shoreline Village, and the Queen Mary Hotel. The Long Beach Department of Parks, Recreation and Marine, awarded a Gold Medal award from the National Recreation and Park Association from 2002-2004. Furthermore, nature enthusiasts
The El Dorado Nature Center, part of the larger El Dorado Regional Park, features lakes, a stream, and trails, with meadows and forested areas. The Municipal Fly Casting Pool at Recreation Park in East Long Beach is a clear water, fishless pond built and operated since 1925. The Long Beach Greenbelt is the location of about 40 species of California native plants as well as a plethora of urban wildlife.
Why Long Beach Residents Need a Retirement Plan
Clients often have the false impression that social security benefits and a basic 401K are sufficient for retirement. The truth is, it is important to create a real retirement plan so you won’t need to be dependent on government benefits,so said retirement can be a comfortable one. Social security may not be a secure as you think. That’s why you need a retirement plan.
What Long Beach Residents need to know about Social Security Benefits
Most of us are concerned about the certainty or stability of the government’s Social Security system. First, you need to understand a little about how the system works. All while you are employed, you are making contributions to Social Security through the FICA taxes that are automatically withheld from your pay check. FICA stands for Federal Insurance Contributions Act. These contributions go towards paying Social Security benefits for other workers when it is their time to retire. Once it is your time to retire, you will receive benefits from the system, as well, based on your level of contributions.
Effects of Unforeseen Medical Expenses
As we get older, the likelihood of developing medical problems usually increases, as do the resulting health care expenses. Without appropriate financial support, medical expenses often lead to an overwhelming financial burden. Therefore, one element of your retirement plan should be long-term insurance (LTC), the purpose of which is to aid in financing your health care needs during your retirement years.
Long Beach Residents Who Want to Retire Early
With Social Security, the earliest you can begin collecting retirement benefits is age 62. It is important to note, though, that the longer you can postpone collecting social security, the larger your payments will be when you ultimately do. In fact, you will not receive your full retirement disbursement, unless you wait until “full retirement age,” which has been increased to 67 years old, for individuals born in 1960 or later. If you were born before 1960, your full retirement age depends, instead, on one the year you were born.
Social Security benefits may not be enough
There was a time when an individual’s retirement was financed entirely by employers and government benefits. Now, though, with the reservations people now have about relying on Social Security, it is more necessary than ever for individuals to take retirement planning into their own hands. Even if there will be social security benefits available for you, they will likely be insufficient for providing a comfortable retirement. The purpose of the social security program is to provide only the bare minimum standard of living during retirement. Therefore, without proper retirement planning, your golden years may not be as comfortable as you hope. If you have questions regarding retirement or any other estate planning needs, please contact the Schomer Law Group for a consultation, either online or by calling us at (310) 337-7696.
