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Going Too Far to Keep Up With The Joneses in Virginia

Keeping up

Competing with our peers is instinctive. If the neighbors have an expensive car, we want a more expensive car. If the neighbors just went on a luxurious vacation, we want to go on a more luxurious vacation. And, according to a new survey from ING Retirement Research Institute, if the neighbors have a healthy retirement savings, we want a healthier retirement savings.

This new survey shows people not only upgrade cars and vacations to keep up with peers, they also increase retirement savings to compete with their peers’ savings. In fact, more than half of the survey participants said they would save more for retirement if their current savings wasn’t on par with their peers’. What’s more, the survey showed people used the size of their retirement savings more so than material possessions and salary when gauging themselves against others.

Because it’s not exactly polite to ask your neighbor how much he has saved for retirement, websites like INGCompareMe.com and ING State of Savings Map offer interactive tools that let consumers compare their retirement savings, debt levels and spending habits to their peers to gauge where they stand.

For a more detailed analysis of the survey, see “ING U.S. Study Sheds Light on Peer Comparison and the Retirement ‘State of Savings’ in America” or review the “Shedding Light on Retirement” White Paper released by the ING Retirement Research Institute here.

You can learn more about this topic as well as other strategies on our website under the tab entitled: estate planning in Williamsburg, Virginia. Be sure you also sign up for our complimentary e-newsletter so that you may be informed of all the latest issues that could affect you, your loved ones and your estate planning.

ReferenceING (December 5, 2012) “ING U.S. Study Sheds Light on Peer Comparison and the Retirement ‘State of Savings’ in America

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We've been putting together as many resources as possible so that we can continue to help:

  • If you’re a current client with a signing appointment or a prospective client with a consultation and would prefer that meeting take place in your own home, we can accomplish that with a little bit of pre-planning on our part and with the addition of a laptop, smartphone, tablet or other computer in your home to facilitate this virtual meeting. For those of you that need to sign legal documents, that too can be accomplished with the use of a webcam (FaceTime etc.), so that we can witness and electronically notarize all of your important legal documents.
  • We launched the rollout of our on-demand webinar early so that new clients and our allied professionals can view the important component parts of ‘an estate plan that works’ at their convenience.  That is available on our website.
  • Live video workshops will be produced as quickly as possible and certainly ahead of our previous schedule; we will keep you posted as these events become available. Given the ‘boutique’ nature of the firm, we rarely have more than ten people in our office including team members at any one time. During this period of ‘social distancing,’ we promise to have no more than 8 people at any time.   This allows us to comply with the Governor’s directive to limit in-person gatherings.
  • The best way to communicate with us is still by phone during regular office hours of 8:30 to 5:00, Monday through Friday, or, you can email any of our team members (that is, their first name followed by @zarembalaw.com).  We will respond to these emails as quickly as possible.
  • Please continue to follow the directives of our local, state, and federal agencies. For your health and in consideration of our team who is assisting you, if you’ve scheduled an office appointment or planned to drop off paperwork and are experiencing a fever, dry cough, or shortness of breath, please contact your primary care doctor for guidance and then our office to reschedule.

Thank you, Walt and the Zaremba Team

Coronavirus/Covid-19
Update to our Process

The unprecedented coronavirus pandemic has taken our entire country by surprise. We understand how difficult this time is for America’s businesses and families.  However, we believe it is vitally important that we make every effort possible to continue to offer solutions that avoid disrupting our important partnership with you, your family and friends.  As you know, estate planning is not something that should wait for a more convenient time, therefore the opportunity to address your important goals both during and after this crisis should not wait.  To that end, we have added the option of a ‘virtual consultation’ to our office process.  You will now have a choice of either meeting with us in our office or in the comfort of your own home.