Tracy Ann Miller appeared in The Oklahoman last week ( discussing retirement issues.


According to the Federal Reserve, the average soon-to-be retiree has a total nest egg of just $14,500. A whopping 30% of households had no retirement savings at all!

“The most important thing is for people to look at what they have to work with and what their expenses are,” said Tracy Ann Miller. “Very seldom do I see people who are saving too much. Mostly, people should look at what they have, how much money is in the bank, do they have a home or other assets. All can be used to fund income when the paycheck goes away. Then you need to look at what you’d like to spend. Then look at bare bones of what you’ll need.”

The IRS allows for “catch-up” contributions to your savings plan that are higher than conventional levels. People 50 or older can deposit an extra $6,000 per year into a 401(k). IRAs allow an additional $1,000.


“You have to save and you have to be moderate in your expectations. But if you can, save and invest on a moderate level,” Tracy said. “Have a moderate return and look at things that are more risk averse. Don’t go for the big kill.”

Other points made in the article as well. For instance, it’s important to assess how much you can expect to spend on health care in retirement, as well as your options in terms of long-term care (nursing home and in-home care.)

Estate planning is critical. It’s also advisable to try to pay off your mortgage—or downsize your home—and rid yourself of other debts like credit cards.

Read the full story here:  Tracy Ann Miller in The Oklahoman June 28, 2016


Tracy Ann Miller, CFP® is CEO and Chief Portfolio Officer for Portfolio Wealth Advisors (formerly Red River Advisors) in Oklahoma City, Oklahoma.

Follow Tracy on Twitter:  @TRACYbreaking