"Age 85 is a bad time to go broke," says expert retirement planner Jeff Gorton.  Personal savings, various investments and, yes, Social Security may prove to be short of what you'd expected.

"Budgeting how you spend money before retirement can often be a misleading measurement of how you'll actually spend it during retirement," says Gorton, a veteran Certified Public Accountant and Certified Financial Planner®, and head of Gorton Financial Group (www.gortonfinancialgroup.com).

"Spending 40 hours a week at work not only earns you a paycheck, it also keeps you from spending money on more vacations, matinee screenings at the movie theater, extra trips to the mall or shopping online. You need to be exceedingly realistic in your planning, and the five years before retirement are actually the most crucial in solidifying post-employment stability."

To prevent a rude awakening during retirement, Gorton makes certain his clients start with a written income plan (WIP). He reviews the benefits and importance of this "living document":

· A comprehensive list of life expenses paints a clearer picture. For a 65-year-old married couple today, there is a 72 percent chance that at least one spouse will live to age 85; a 45 percent chance that one will live to age 90, and an 18 percent chance that one will reach age 95, according a recent study from the CDC National Center for Health Statistics. You may not think of listing things like pet care, yard maintenance, and regular visits to salons or spas. But if you enjoy those services now, you may want them during retirement, and you might find that you underestimated the real cost of maintaining your desired lifestyle. And, that's not including gifts to children and grandchildren!

· The forecast of a two-legged stool. A WIP helps you appreciate the reliability of retirement income. What sources of income do you anticipate having? Traditionally, retirement funding has been viewed as a "three-legged stool," implying a balance between Social Security, retirement plans and savings/investments. As the baby boom generation ages, Social Security benefits may decrease ? and the age at which an individual can collect benefits may increase. Changes in employment may affect retirement plans. As a result, the third leg of the stool, savings/investments, may become even more important.

· Who is authoring your WIP? As with all written documents, you must always consider the source. What you may not realize is that a financial planner is liable to have a stake in selling you a financial product. Just like a retailer may have an incentive to move certain brands of products, many planners are incentivized to have you invest in specific financial vehicles from major institutions. What plan works best for you? Seek advice from an expert who isn't trying to sell you something, such as an independent firm.

"If you don't have a written income plan, then you're just hoping things will work out," Gorton says.

About Jeff Gorton, CPA, CFP®

Jeff Gorton is a Certified Public Accountant and a Certified Financial Planner® specializing in individual tax and retirement planning. He is also an Investment Advisor Representative under Alphastar Capital Management, an SEC Registered Investment Advisor, and has a life and health insurance license. Gorton works with individuals and their families to create and protect their financial legacies. He specializes in working with retirees in the areas of tax planning, benefits, retirement planning, estate planning and safe money techniques. He received his BBA in Accounting from the University of Oklahoma. Gorton previously worked for 10 years as the Chief Financial Officer for a large retail organization, overseeing their accounting, benefits and 401(k) retirement plans.

KONE Inc., press release, August 16, 2013

For the third consecutive year, KONE has been ranked among the top 100 most innovative companies in the world by the U.S.-based business magazine Forbes. KONE's ranking rose to 37 (42). Of the European companies listed, KONE is ranked as 12.

As the Forbes ranking demonstrates, innovation is one of KONE's key success factors. "Our aim is to deliver the best customer and user experience. Passion for innovation is an integral part of our culture," says Matti Alahuhta, CEO and President of KONE Corporation.

KONE has been an industry forerunner with its innovative solutions for several decades. For example KONE was the first company to introduce machine-room-less elevators in 1996. KONE's latest ground breaking solution is its new high-rise elevator hoisting technology, KONE UltraRope(TM), enabling future elevator travel heights of 1 kilometer - twice the distance currently feasible.

Forbes magazine's ranking is based on a metric called the "Innovation Premium. One of the developers of the metric is Harvard Business School Professor Clayton Christensen.

The list of world's most innovative companies can be viewed on forbes.com.

For further information, please contact:

Kellie Lindquist, Marketing Manager, KONE Inc., tel. +1 630 955 4202

Anne Korkiakoski, EVP, Marketing & Communications, KONE Corporation, tel. +358 204 75 4775.

Read more
About KONE UltraRope(TM):
New KONE UltraRope(TM) elevator hoisting technology enables the next big leap in high-rise building design
www.kone.com/ultrarope

KONE's previously published press releases:
www.kone.com/press

About KONE
KONE is one of the global leaders in the elevator and escalator industry. The company has been committed to understanding the needs of its customers for the past century, providing industry-leading elevators, escalators and automatic building doors as well as innovative solutions for modernization and maintenance. The company's objective is to offer the best People Flow® experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. In 2012, KONE had annual net sales of EUR 6.3 billion and around 40,000 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.

The crux of the 2008 economic collapse was the abstract and unnatural repackaging and sale of subprime mortgages, which were sold on the false premise of being valued products. The world learned the hard way that these were toxic assets but we are now running the risk of suffering the same hardship again, says scholar John Horvat II, a sought-after researcher and scholar.

"The economic gymnastics involved in the collapse distracts many from the essential nature of what happened five years ago: sectors of our economy are frenzied and out of balance," says Horvat, author of "Return to Order," (www.returntoorder.org).

We need to address this issue, he says. Our economy is suffering from a systemic problem Horvat calls frenetic intemperance: a restless, reckless spirit that infects sectors of the modern economy and foments a drive to throw off legitimate restraints and gratify all desires.

Horvat proposes an organic solution.

"Many of us believe this problem needs to be looked at from the bottom up, which is why we propose an organic society as a part of the solution to an economic problem," he says. "We believe that when economic activities take place inside the context of society, it allows the natural restraining influence of human institutions such as customs, morals, family and community to calm markets and prevent frenetic intemperance."

Horvat says the above factors constitute the "heart and soul" of the economy, which may be revived in the following ways:

• Focus on property: Before becoming a modern commodity, private property possessed a strong intangible value. Real property, especially land, was a point of anchorage or sanctuary from which a family might develop. Wherever a strong sense of private property exists, a strong family pervades, and the family may persist there for many generations. In such cases, land and property become embedded in social relationships. They are not mere commodities; rather, they're part of the social and political organization itself, conferring the intangible qualities of honor, authority and status upon the owner.

• Social capital: There is now a field of sociological studies focusing on the value of what is called "social capital" on the economy. It's a social fabric of human relationships that serves as a kind of capital since it creates conditions for trust. Although unquantifiable, it enriches and lubricates social, civic and economic life, giving it undeniable value. It's also a source of immense security and trust - something that was lost for many after the subprime mortgage crisis.

• The "invisible" economy: Beyond individual relationships, there are also those human instituions cannot be undervalued if we're to have a healthy, organic economy. These are also innately nuanced and unpredictable. Institutions like the family and community serve as essential braking mechanisms inside an economy that prevent frenetic intemperance. In this sense, economic developments and transactions share space with other human endeavors, including literature, the arts and education. Such institutions serve the purpose of creating psychological health and stability and should not be seen as mere nostalgic musings. This "invisible" economy, a reinforced social infrastructure, in no way denies the need or importance of a formal economy. Rather, think of both as intertwined; each provides rigor, vitality and trust in the other.

About John Horvat II

Brushes with poverty, extended periods of joblessness and a reliance on welfare is part of the "new normal" for the average American worker, according to new data reported from The Associated Press.

Economic security isn't what it used to be before the economic crash of 2008; survey data points to the loss of manufacturing jobs, the globalized economy and a widening gap between rich and poor as reasons for why 4 in 5 workers in the United States will experience economic hardship in their lifetime. 
"I certainly don't envy what the average worker will likely endure throughout his or her career, but as an ambitious woman coming up through the ranks of corporate culture - the boy's club - many decades ago, I know the hardship of sustaining the career of your dreams," says 75-year-old Darlene Quinn, author of Unpredictable Webs, (www.darlenequinn.net), the newest in her stand-alone series of suspense-filled dramatic novels which are now in development for a major TV series.

Quinn is a former senior executive with the Bullocks Wilshire department store chain who went on to pursue an award-winning career in fiction writing. She started by earning a bachelor's at San Jose State University and she became a schoolteacher, later climbing her way up the corporate retail ladder during a time of tremendous upheaval in the fashion industry.

"Change is natural; change is life, and you don't have to be afraid of it," she says.

Quinn, a family woman who has also been proactive in managing beauty pageants, volunteering for charity and corporate training, offers the following career advice to struggling professionals:

• Parlay your strengths; experience and education isn't everything. Unfortunately, many workers are finding this out. Nowadays, even advanced college degrees are no guarantee of job security. It's not uncommon to find holders of master's degrees working in low-paying jobs. While a degree is still needed to get your foot in the door of most professional job openings, consider that which you most excel. As a professional, you may not be perfect in every aspect of your career, but there are activities in a job that you probably do regardless of work. Perhaps that's managing groups of people, writing or designing websites. What is your strength, and how does that translate to a more promising field?

• Shoot for the top! Of course, you don't have to be in a state of economic hardship to consider switching fields. The Internet is allowing us to be more connected than ever and permanently altering the employment landscape. Perhaps you see an opportunity in online education and, as an administrator on a college campus you know the weaknesses of today's traditional university system. If you take well to new software, are available beyond the usual 9-to-5 hours and have a stable work history, then why not make more than a lateral move?

• Is it time to trade in that necktie or pantsuit for your passion? After having accomplished so much in the corporate world, Quinn decided it was time for a new direction, so she pursued her passion for writing and has done very well, winning multiple awards. Perhaps it's time to take what you already love doing so well at home and apply it to a career. If you love cooking, for example, and others love what you create, you may want to consider a new career.

About Darlene Quinn

Darlene Quinn is an author and journalist from Long Beach, Calif., whose novels about deceit, intrigue and glamour in the retail fashion industry were inspired by her years with Bullocks Wilshire specialty department stores and are now in development for a major TV series. Her newest, Unpredictable Webs, is the winner of the Beverly Hills Book Awards for Excellence in Fiction and was selected as the number-one President's choice before publication. The novel continues her series, including Webs of Fate, which won the 2011 Reader's Favorites Award before it hit bookshelves; Webs of Power, winner of a 2009 National Indie Excellence Award, and Twisted Webs, winner of the 2011 International Book Award for General Fiction and the 2011 National Indie Excellence Awards for General Fiction.