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Avoid outliving your resources
Investing
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You can’t predict how long you’ll live. Nonetheless, you still need to consider longevity as a key factor in creating and following a long-term investment strategy.
And your projected lifespan may be longer than you thought. Men who turned 65 in 2010 can expect to live another 18.6 years, while women who reached 65 that same year can anticipate another 20.7 years, according to the 2011 Social Security Trustees Report.
And these figures are just averages. Depending on your health and family history of longevity, you could spend two or even three decades in retirement.
Possibly because people now are realizing they may have to support themselves for far longer than earlier generations did, they seem to be growing increasingly concerned about running out of money in their later years.
In fact, in an Allianz Life Insurance poll of people ages 44-75, 61 percent said they fear depleting their assets more than they fear dying.
So, if you’re concerned about outliving your resources — or if you think you may become one of those people — here are some steps you should take, both now and during your retirement.
• Keep investing. Put away as much money as you can afford for your retirement. Take advantage of tax-deferred accounts, such as your 401(k) and traditional IRA, or tax-free accounts, such as a Roth IRA.
Roth IRA earnings are tax-free provided you’ve had your account for at least five years and you don’t start taking withdrawals until you’re at least 59 ½. And keep investing, year in and year out, despite the inevitable market volatility you’ll encounter along the way.
• Reassess your retirement age. If you enjoy your work, you might consider staying at your job a few years later than originally intended. Those extra years of income, not to mention extra contributions to your 401(k) and potentially bigger Social Security payouts, can make a big difference to your retirement lifestyle.
• Delay taking Social Security. As the laws now stand, you can start taking Social Security as young as 62, but your monthly checks will be bigger when you reach your full retirement age. You’ll get your biggest monthly Social Security checks if you wait until age 70, when they max out, but many people feel that waiting that long may not be worth it when weighing the lost years of any payments against the unknown variable of life expectancy.
• Calculate your withdrawal rate. Once you retire, it’s essential that you know how much you can withdraw from your investments each year without running out of money.
Your withdrawal rate depends on a variety of factors, including your age, size of portfolio, risk tolerance and retirement lifestyle. A financial professional can help you calculate your initial withdrawal rate and adjust it as time goes on.
The possibility of outliving your resources is not a pleasant thought. But by taking the steps described above, as well other steps, you can go a long way toward taking the fear out of longevity, leaving you free to fully enjoy an active retirement.

Cardella is a consultant for Edward Jones in Hinesville.

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GPA grows trade, market share
Intermodal volume up 20 percent
port photo
Rubber tired gantry cranes handle cargo at the Chatham Intermodal Container Transfer Facility at the Port of Savannah. The Georgia Ports Authority's Mason Mega Rail project will double rail lift capacity to 1 million containers per year by 2020 - photo by Provided

The Georgia Ports Authority achieved 14 percent growth in March container volumes, moving 355,208 20-foot equivalent unit (TEU) containers.

From July 2017 to March, TEU container trade grew by 9 percent, or 255,786 additional units for a total of 3.08 million, a new record for Savannah.

"Savannah's continued strength is a reflection of our customers' commitment, Georgia's leadership, and the many dedicated service providers, GPA employees and ILA members who come together every day to achieve great things," said GPA Executive Director Griff Lynch. "March marked our 17th consecutive month of business expansion thanks, in part, to a strong economy and growing market share."

Intermodal rail volumes jumped by 20 percent in March and 15.4 percent for the fiscal year to date, for a total of 318,454 containers handled over nine months – another record for the GPA.

"As the numbers show, our rail cargo is growing at a faster pace than our overall trade," GPA Chairman Jimmy Allgood said. "This is important because rail is playing a key role in our responsible growth strategy. We anticipate our rail infrastructure investments to take 250,000 trucks off the road each year by 2020."

The GPA recently broke ground on its Mason Mega Rail Terminal, on which the Port of Savannah will build 10,000-foot unit trains within its own footprint. From the expanded rail infrastructure at Garden City Terminal, Class I rail providers CSX and Norfolk Southern will provide direct rail service to major Southeast and Midwestern markets from Memphis to St. Louis, Chicago to Cincinnati.

An added benefit is that the Mason Mega Rail project will move all rail switching on terminal – improving vehicle traffic flow around the port.

In August, the GPA will open its Appalachian Regional Port in Murray County. Located in an industrial belt, including the production and export of carpet and flooring, automobiles and tires, the ARP will provide an alternative to all-truck transit to Northwest Georgia.

Each round-trip container moved via the Appalachian Regional Port will offset 710 truck miles on Georgia highways.

March was also a strong month for roll-on/roll-off auto and machinery units at the Port of Brunswick and Ocean Terminal in Savannah. Colonel's Island Terminal in Brunswick handled 66,144 cars, trucks and tractors, while Ocean Terminal added 4,050, for a total 70,194, a 17.2 percent increase.

"The global economy is thriving and our volumes are following suit," Lynch said. "As existing accounts grow their footprint in the expanding auto facility in Brunswick, Georgia's competitive logistical advantages are drawing additional business across all of our docks."

Lynch noted that for the fiscal year to date, Mayor's Point breakbulk terminal in Brunswick grew by 44 percent (34,515 tons) to reach 112,728 tons of forest products. At East River Terminal, bulk cargo expanded by 34 percent July-March (189,918 tons) for a total of 750,384 tons.

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