Here’s an interesting statistic: Over the past three decades, the centenarian population in the United States has grown about 66 percent, according to the U.S. Census Bureau.

This doesn’t mean that you will live to 100 — but the possibility may not be as remote as it once was.

If you plan to retire in your mid-60s, and you are in good health, you may have two or even three decades ahead of you. To enjoy this time to the fullest — and help prevent the possibility of outliving your financial resources — invest for income and growth throughout your retirement years.

As a retiree, how much income do you need from your investments? There’s no one “right” percentage for everyone. Furthermore, you shouldn’t have to rely solely on your investment portfolio, because you may have other sources — such as Social Security and potentially your employer-sponsored retirement plan — from which to draw income. Nonetheless, investments can play a big role in providing you with income you’ll need during retirement.

Many retirees depend on fixed-rate investments for much of their retirement income — so it’s a real challenge when interest rates are low, as they have been the past several years.

Consequently, when you retire, you’ll need to be aware of the interest-rate environment and the income you can expect from these investments. Longer-term fixed-rate vehicles may be tempting; they typically offer higher rates than shorter-term ones, but these longer-term investments may have more price fluctuation and inflation risk than shorter-term investments. You’ll likely need a balance between short-, intermediate- and long-term fixed-income investments to provide for a portion of your income in retirement.

While it’s important to invest for income, you can’t ignore the need for growth — because you won’t want to lose purchasing power to inflation. We've experienced mild inflation recently, but over time, even a low inflation rate can seriously erode your purchasing power.

If your current monthly costs are $3,000, they will be about $4,000 in 10 years with a 3 percent annual inflation rate. In 25 years at that same rate, your monthly costs will have more than doubled to about $6,200.

To help protect yourself against inflation risk, consider having at least some investments that offer growth potential, rather than only owning fixed-income vehicles. Some investment vehicles, such as dividend-paying stocks, can offer both growth potential and current income. In fact, some stocks have paid, and even increased, their dividends for many years in a row, giving you not just income, but rising income. (Keep in mind, though, that companies are not obligated to pay dividends, and can reduce or discontinue them at any time.)

To determine the right mix of growth and income vehicles for your individual needs, consult with a financial adviser familiar with your retirement plans, your risk tolerance and your family situation.

And it may well be a good idea to plan for a very long retirement.

You may not live to be 100 — but it would be a good feeling to know that you could afford to do so.  

Joe Faulk is a financial adviser in Crestview.

This article originally appeared on Crestview News Bulletin: FINANCIAL FOCUS: Invest now to prevent outliving your income

Since I have an animal science degree, I like to think the pond is the pasture and fish are the livestock.

That is, the pond must grow enough forage/food for the fish. The more fish you harvest from the pond, the more forages the pond must grow.

Just like in a pasture situation, there are good forages and there are weeds (plants we don’t want in the pond).

There are plenty of good pond plants that fish use for food and shelter. There also are a few invasive plants, so learning how to identify those "weeds" is important.

After properly identifying the weed, learn how to treat it. In many cases, herbicides are unnecessary. Very often, grass carp or simply adding a pond dye will take care of minor issues.

Fish, like livestock, produce fertilizer for plants in the pond. If you have a light harvest of fish from the pond, you probably don’t need to fertilize the pond. If you plan to harvest fish regularly, you may decide to fertilize the pond.

If you decide to fertilize this year, continue fertilizing it in the future as the fish population will come to depend on regular fertilization. Don't fertilize ponds if commercial fish feed is used, in muddy or weedy ponds, or in ponds where fish populations are out of balance.

Fish stocking rates depend on which kind of pond you want. If you want a crystal clear, plant-free pond, don't have any fish.

Bass/bluegill ponds seem to be pretty popular here. However, consider this: Bass will eat smaller fish. That is why we generally suggest stocking the pond with bluegill and catfish in the fall and stocking bass the following spring.

Triploid grass carp — which can be used to control certain pond weeds — can only be bought with a Triploid Grass Carp Permit from the Florida Fish and Wildlife Conservation Commission. Find the application at www.myfwc.com and search for grass carp.

LEARN MORE

WHAT: Pond Management Workshop

WHEN: 6-8 p.m. June 30

WHERE: University of Florida Institute of Food & Agricultural Science's Okaloosa County Extension Office, 3098 Airport Road in Crestview.

COST: $5

CONTACT: 689-5850, bearden@ufl.edu

Jennifer Bearden is an agent at the University of Florida's Extension office in Crestview.

This article originally appeared on Crestview News Bulletin: EXTENSION CONNECTION: Fish ponds management made simple

The cliché is, “April showers bring May flowers,” but April deluges create weak plants and yellow grass.

Picture this: You were following the University of Florida/Institute of Food and Agricultural Sciences' recommendations and waited until April 15 to fertilize.

You followed the Urban Turf Rule and applied low-phosphate fertilizer with slow-release nitrogen.

Yet, your grass is yellow and the shrubs haven’t grown any. What happened?

The 18-plus inches of rainfall we experienced at the end of April flushed nearly everything, including fertilizer, out of the soil. Nitrogen and potassium are highly leachable. Phosphorus is also depleted under saturated soil conditions.

If you haven’t submitted a soil test since the storm, now is the time to do so. It’s time to apply a summer fertilizer, but it needs to address all the nutrient deficiencies created from excess rain. Soil test kits can be obtained from the Okaloosa County Extension office.

Fertilizer selection

Best Management Practices have been developed so individuals can make fertilizer selection decisions that reduce the risk of water contamination.

When you get soil test results from the University of Florida Lab, remember the "4 Rs" when applying fertilizer.

•Right source. A BMP-compliant fertilizer contains a portion of slow-release (water insoluble) nitrogen with little to no phosphorus, and a potassium level similar to the nitrogen percentage (e.g. 15-0-15, that contains 5 percent coated nitrogen).

A soil test is the only way to accurately identify specific nutrients your landscape lacks. Many soil tests indicate a need for phosphate and, currently, it is illegal to apply more than 0.25 pounds per 1,000 square feet without a soil test verifying the need.

•Applied at the right rate. Know the square footage of your property and how much fertilizer you can spread using your equipment's settings. Individuals walk at varied speeds and the product-recommended rates are based on 1,000-square-foot areas.

Using 15-0-15 fertilizer, the right rate for one application would be 3 pounds per 1,000 square feet. That 35-pound bag is all that is needed for a nearly 12,000-square-foot yard (a large corner lot).

Learn more about calibrating application equipment.

•At the right time. This is when plants are actively growing and beginning to show nutrient deficiencies. Summer, when rainfall and irrigation are frequent, is a typical application time.

•Over the right place. That is, only on living plant areas. Avoid getting fertilizer on the sidewalk, driveway and street. A deflector on your spreader is helpful.

Otherwise, sweep or blow the fertilizer back onto the grass or into the landscape beds. Avoid having fertilizer end up in any water body.

The final factor is irrigation. To obtain the most benefit from fertilizer, the 4 R's must also be applied to irrigation. The water source, application rate, frequency and duration of application, and uniformity of the sprinkler system on the application site dramatically affect the results of fertilizer applications.

Learn more about irrigation timing and system calibration.

Nutrient and irrigation management are critical to conserve and protect Florida’s natural resources. We must meet the needs of the present without compromising the ability of future generations to meet their own needs.

Sheila Dunning is an agent at the University of Florida's Extension office in Crestview.

This article originally appeared on Crestview News Bulletin: EXTENSION CONNECTION: The 4 R's of fertilizer application