Am I Going to Run Out of Money in Retirement?

By Carl Engelking

The future is uncertain, and that can be a little scary – especially when planning for retirement.

You’ve been told to save and save more, but how much is enough? Can you save too much? How do you know if you’ll run out of money in retirement? If your spine is tingling right now, you’re not alone: Nearly half of all Americans planning for retirement are worried about outliving their savings, according to a study by the American Institute of CPAs.

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The Connection July Issue: Women Creating Commerce

Many women contribute to the Texas Medical Center Venture Fund, VP of Strategy Ashley McPhail, Associate Director of Clinical Partnerships Morgan Brown and Innovation Strategist Emily Reiser are part of the Due Diligence Team. Houston Methodist’s Chair of Surgery Dr Barbara Bass and TMC Venture Fund’s Director Juliana Garaizar are part of the Investment Committee.

The TMC Venture Fund has invested in 2 women-led companies and both are part of the best performing companies in its portfolio. Dr. Emma Fauss moved to Houston to develop Medical Informatics. Its company has been thriving ever since to the point of outgrowing the at the TMCx+ co-working space since she successfully raised more than $10M from Silicon Valley investors including Intel. Dr. Michelle Longmire launched a virtual clinical trial platform Medable three years ago and with $5M in bookings has raised more than $30M and has a global partnership with clinical research company PPD.



The women of Houston are leaders that are willing to be connectors. The most enlightened conversations have been around me sharing my personal story, not the glossy profile story that we write for the biographical accounts. They have instead engaged me on a very personal level. Their willingness to share your accomplishments when you are not in the room equates to success! One key driver of how men are able to achieve career and community success is that someone is willing to be a promoter when they are not in the room. The women of Houston are supportive and provide great coaching for navigating the business community. Houston has allowed me to build relationships with female leaders that are positive and very engaging. Houston may appear large at first, yet upon additional review it is really a tight network of Women leaders that are truly impactful connectors.



For someone entering law school, my advice would be as follows: Network! Network! Network!  I see so many law students in law school keep their heads down and do nothing else but study.  While a good GPA is great for landing that first job or getting on law review, having a broad network of people to call upon is essential in the practice of law (and generally in life).  I would encourage any new law student to join her local bar associations. In Houston, we are lucky in that we have so many great associations from which to choose.  Many of the bar associations also have free memberships for law students and offer formal mentorship programs with practicing attorneys, so there is no reason not to join.  Make contacts. Find resources. Find opportunities.



Please share one way the GHWCC has helped you

GHWCC has connected me to so many wonderful woman across all industries within the greater Houston area.  I moved here as a new Houstonian and the GHWCC was the perfect place to go to get integrated into the Houston community. I’ve always worked to give back and as a result of what the GHWCC has given me, I’ve felt responsible to pass it forward to a number of other members of the chapter who have reached out to me for advice or counsel. I feel privileged that I’ve been there for them to address their career or business needs.  The connectivity is unreal at the GHWCC.  I would highly recommend it to anyone looking for deeper connections within the Houston area. 



Please share one way the GHWCC has helped you 
The GHWCC has helped me by expanding my network of executive women and business owners in an array of industries with whom I have built relationships both personally and professionally. I have been very involved in GHWCC’s affiliation with Golden Seeds, Angel Investment Network, and through this platform have made valuable connections to investors, start up founders and others within the startup ecosystem in Texas and throughout the country.



Please share one way the GHWCC has helped you

GHWCC and the women I’ve met through it helped me finish my book and launch a second business that I’d been thinking of doing, but afraid to take the risk.  It is an incredibly supportive environment of successful business-people who encourage women to take risks and reach for their professional goals. As a representative of the University of Houston, GHWCC has provided a wonderful forum to connect growing businesses with young people for internships, mentorship, jobs and academic projects.  I love that GHWCC actively promotes the next generation of women in business.




Please share one way the GHWCC has helped you

I am truly grateful for the GHWCC providing endless opportunities for young ladies. The STEAM Town USA program has helped to provide STEM exposure to girls and build their confidence level. In role as an educator, I know the challenges that young ladies face when it comes to Science and Math. So to have an organization such as, GHWCC to take the time out to mentor and provide STEAM hands on activities for young ladies, is truly amazing. For me personally, I have benefited from GHWCC networking events and luncheons by learning from other professional women how to grow in my professional career. I find myself sharing all the great ideas, opportunities, and resources that I have learned from GHWCC. I am so glad that I have the opportunity to be included and surrounded by professional women who I can learn from in GHWCC. 



Taking the Risks Out of Benefits

Owning a healthcare business does not exempt me from an issue that perplexes leaders of large and small organizations alike — but it does give me a broad perspective on the question of how to provide medical benefits that employees appreciate, while making sure that the cost of those benefits doesn’t put a company out of business.

Every year, I work to keep rising health insurance rates in check while also making sure that my employees don’t feel the brunt of rate increases. In my years of running organizations and dealing with escalating healthcare costs, I have made some observations that may help you address this expensive and important issue. Here are my top five health benefits tips.

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