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Maintaining Independence in Retirement

Independence is something we have to work for throughout our lifetimes, whether we want to or not. As babies, we push our way up from four limbs to two and start walking our way into messes. As toddlers, we profess “No!” and “Mine!” to make our point. In the teenage years, we rebel against parents in an effort to earn independence.

The fight for independence doesn’t end in adulthood, as we manage relationships with significant others and bosses throughout our careers. And finally, we grow older and retire. While many of us would love to have millions of dollars so we could avoid any dependence on government entitlement programs, most retirees rely on Social Security and Medicare benefits to supplement their income and take care of a large portion of their medical expenses.

While the word “entitlement” often receives a bad rap, its true meaning is appropriate. Workers contribute 6.2 percent (on wages up to $127,200 per year) for Social Security old age, survivor and disability insurance and 1.45 percent of their earnings for Medicare throughout their working lives as a FICA tax, which stands for the Federal Insurance Contributions Act. In other words, it’s like deferring part of your pay toward a pension in retirement, which you are most certainly “entitled” to.

However, entitlement benefits are limited. As the quest for independence continues, it’s important to accumulate income for retirement through other sources, such as a pension or 401(k) plan and personal savings. The quality of our retirement lifestyle may well be defined by how much each of us saves and how we manage our finances. And fortunately, that’s one of the most satisfying measures of independence.


The content provided here is designed to provide general information on the subjects covered. It is not, however, intended to provide specific legal or tax advice.  Contact us at info@securedretirements.com or call us at (952) 460­-3260 to schedule a time to discuss your financial situation and the potential role of investments in your financial strategy.

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Ryan Keapproth

Ryan Keapproth

Retirement Planner

Ryan is dedicated to serving clients to achieve their retirement goals. Ryan’s holistic approach centers on wealth management strategies with a focus on income planning throughout retirement. As a Financial Advisor, Ryan is an Investment Adviser Representative (IAR), life and health insurance licensed and a Certified Tax Preparer. Ryan is a graduate of the University of Minnesota, with an Accounting and Finance major.

Ryan is a lifelong Minnesotan originally from Woodbury and currently residing in Bloomington with his wife, Riamae, and their rescue Terrier Beagle mix, Douglas. He and his family are avid travelers in their free time. Ryan enjoys playing golf and poker, and describes himself as a major foodie enjoying new restaurants around the cities whenever possible. He is a sports fan especially when the Vikings and Timberwolves are playing.