Retirement Planning

Do you need to do it? Is it important? Yes, it's important because its your future. So let me tell you how you can do it in the best possible way. Fist of all you need to check whether you are covered under any retirement plan related to your employment means what is the retirement plan your employer has offered you. Most of the retirement plans are authorized under internal revenue code such as Section 401(K) or 403(b). As on date there are many retirement plans are available. You can opt for the plan which suites your retirement planning requirements. Let's discusses the most common plans.

401k retirement plans - The 401(k) plan is a employer retirement plan under section 401(k) of the Internal revenue Code in the USA mainly by private sector companies.

A 401(k) plan allows an employee to save for retirement while deferring income taxes on the saved money and earnings until withdrawal. The employee may decide to have a section of his or her salary paid directly into his or her 401(k) account. In participant-directed plans, the employee can choose from a number of investment options, usually an assortment of mutual funds that emphasize stock, bonds and a mix of the both. Many companies' 401(k) plans also offer the option to purchase the company's stock.

403(b) retirement Plans - The 403(b) plan is a tax advantaged retirement savings plan available for public education organizations, non-profit employers and self-employed ministers in the United States. The tax treatment in this plan is similar to 401(k) plan. In simple words it can be said than an employee salary deferrals into a 403(b) plan are made before income tax is paid on it, and allowed to grow tax deferred until the money is taxed as income when taken out of the plan.

The Savings incentive match plan for employees (SIMPLE IRA) - This plan servers companies with 100 or less than 100 employees and the good this is that it also includes the self employed people for self employed retirement plans also. The plan may be structured like 401(k plan but the disadvantages is that IRA contribution limit does not apply on this plan.

Simplified employed Pension Plans (SEP-IRA) - This is for a comply with 25 or less employees. The plan may be structured like 401(k plan but the disadvantages is that IRA contribution limit does not apply on this plan. This is something we can say retirement plans for small business.

Top 5 Keys to Retirement Planning and FREE Retirement Calculators!

Do you know how much money you will need in retirement? Like many concerned Americans, you may have no idea. Here are a few pointers to get you on the right track.

POINT 1:The BEST planning strategy for retirement funds is to start EARLY. It is never too early to start investing for retirement. You should really think about that. If you have the money to INVEST young and you do, there is a great chance that you will be able to RETIRE young. Even a couple of years can make the difference of several hundred thousand dollars once you factor in interest. You should set a goal of setting aside a certain amount of money every month from your paycheck to put into your 401k. Although with the economy right now, it might seem difficult. Try to cut back on some luxury items you could do without. Eat out less, skip that trip to your favorite place for a cup of joe. If you really take it seriously, you can do it!

POINT 2:Choosing the appropriate individual retirement accounts. At a time when the economy is unstable, this is important. Most of the experts agree that the Roth individual retirement accounts are the best alternative to traditional individual retirement accounts since not everyone can qualify for the others and is geared towards those who have a lower tax bracket upon retiring. A Roth individual retirement account is based on contributions made after taxes and the taxes are not deductible. Traditional individual retirement accounts, on the other hand, are based on a tax deduction first and then the tax-deferred funds begin to grow. The difference between this and the Roth IRA is that if your salary increases.....more taxes to pay.

POINT 3: Retirement Planning Calculators are an essential tool. A common mistake among pre-retiree's is that they think that they won't need as much money to live on once they retire. WRONG! Unfortunately,the cost to live does not decrease once you are retired. This is when Retirement Planning calculators come into play. These FREE calculators help you to know where you are now and what you will need to save to meet all of your needs once retired. It is not exact, but it definitely helps you to see what you need to have your dream Retiree lifestyle.

POINT 4: Have a plan for the allocation of your portfolio assets. A weak portfolio limits what you can pass onto your family. You may have to make withdrawals at a percentage rate that is higher than your portfolio is earning. You want to make your assets last as long as you do, or longer. In the event that your retirement income won't cover your post retirement expenses, the earnings from your portfolio will be the difference.

POINT 5: Get help from a reputable Retirement Planning service.The best way to look for retirement planning services is to ask your friends, family and coworkers if they can recommend anyone. Here you can learn the good and bad of many different companies, With none of the headache involved in finding out for yourself. Online retirement planning services are becoming more and more popular, with most national banks and financial services offering information and tools online. You can also check with your place of employment. Many companies are offering lists of recommended planning services. Finding the right retirement planning service is an important part of making sure you have the retirement that YOU deserve.

Small Business Retirement Plan, A Good Business Opportunity

Many people belief that retirement planning is only for people who get a salary, but it is also necessary for who run their own business. There are many ways to do this, the better you are prepared for your retirement, the better you will be prepared for the future. And when the present is very important, your future, when your senior years come, living a life as independent and dignified as can be is also important. So if you want to live that part of your life financially comfortable the small business retirement plan, is a good place to start.

You need to think big when it comes to the small business retirement plan. In your working years you can prepare for your financial independence when retired. When you start with your small business retirement plan at the right time you need to keep in mind that saving a considerable amount of money for the future, can also save you a great deal on tax deductions in the present. With The small business retirement plan you can fill in any gaps in your personal savings and you can secure your retirement time.

Tax deduction on the amount of your savings for the future is a great advantaged of the small business retirement plan because:

- These savings will not incur tax until it is withdrawn.

- You can also include your spouse in to increase the amount you save when you are partners in business .

- By extending this plan to your small business employees there are more benefits.

Small Business Retirement Plan For Your Employees

The first small business retirement plan is the Savings Incentives Match Plan for Employees (SIMPLE) IRA. Your employees can contribute if they have earned more than $5,000 in any two years prior and who will earn at least $5,000 this year, and you as their employer need to match whatever sum they contribute with a ceiling of US $6000-10000. And your employees can contribute up to $10,000. You as their employer can provide up to 3% match or 2% non-elective match for all your employees up to $4,400 per employee. You can also contribute $10,000 to your own account plus a match of 3%.

When you are employing just a handful of employees, which is often the case with small businesses, then the Simplified Employee Pension Plan (SEP IRA) can be the right plan for you and your business. With this small business retirement plan your workers do not contribute, you contribute on the behalf of all of your employers. Any business owner or self-employed individual can start a plan. All employees who have worked for 3 of the past 5 years and who earned at least $450 last year are eligible for coverage.The contributions you make can differ from year to year and you can let it depend upon your business returns and the sum of these contributions is tax deductible.

The small business retirement plan provides benefits for your employees and for yourself. The plan also generates some major tax savings. This way you are creating a safe future for you, your family and for your employees.

Time To Think About Early Retirement Planning

Many of us are still living in the past when it comes to planning for retirement. Sure, we know that unlike previous generations we can't rely on generous Social Security benefits or fat corporate pensions. And we know that we can't count on double-digit market returns to make up the difference. We are more concerned about creating wealth rather than ways to preserve it.

Before, while we were fresh out in college, we don't really consider the future as a whole. We were actually focus on our ideal career. We acquired our education, and now we're playing the corporate field, and vying for the job that will set us up with a great lifestyle. And soon we can purchase the home and abandon the apartment routine. Since we can now afford something a bit nicer, a new car is probably in order. And before we know it, we're married with a family. It's time to stop right here and it's time to consider early retirement planning. Yes I do realize that this is slightly far off yet, but there's no such thing as too early when it comes to retirement. The years can fly by much quicker than most of us we expect.

I recall what just happened during my 21st birthday. Can you believe that? But sadly, it was now ten years ago. There's no altering it, stopping it, or even slowing it down. You simply have to take it as it comes. It's discreet to get a jump start on things , since it moves so quickly. You just think about on how long you wish to stay at your current career. How much should you be setting aside for the golden years of rest and relaxation? I do realize that it is hardly difficult to begin early retirement planning in your 20s, but if you can you can go for it and you will able be glad you did it so. If you done it properly,you could probably retire by the time you hit your 40s. And that would be CHOICE for most of us.

You should consider thinking about the future. And maybe it's high time you should. You know, those retirement years can really act up on you and it truly pays to begin early retirement planning. By this I mean setting aside money for the future and/or investing properly. Hey, don't get all set out of shape and start fretting about the future. And its more productive taking an action. It's all about knowing where to start? Whether many of us like to ponder the golden years or not, the fact is they can rush up on us rather quickly. Suddenly the infants are in college and we're crag fast with a batch of bills and a tiny retirement plan. Don't let this happen!

You come to think about it that what does early retirement planning consists of? Well, it depends on what you're currently dealing with and have in mind for the future. If you have children, you may also want to contribute to a college fund of some sort. On the other hand, if you're single or simply married, you can begin the investing with ease. Even though you owe only 100 bucks each month in a savings, it's well worth it. Consider an IRA early on. This is a wonderful route when it comes to early retirement planning. The options range from stocks, to bonds, to savings, to real-estate investments. However, there are a lot options range to do, still the choice is up to you.

Just start to ask your self, if you have done any retirement planning? Studies show that the majority of Americans are not even prepared for retirement when the time arises. And it took me a while to get my head on straight and begin early retirement planning. It was like a switch was activated, when I turned 30. It told me to GET ON THE BALL! I had to sit down and re-evaluate my life and current standing. It was quiet proud after examining my accomplishments, career and family.

And now it's time to start spending wisely. Up until then I had just been doing as I please. This can seriously leave you broke. For example, let's say you made a grand this week. Now you take your hard-earned cash and pay the bills that are due. Fortunately after all costs and expenses, you have 240 bucks left over. Now, are you going to head to the local shopping mall, or hop on the Internet to purchase some new and exciting toy? This is the problem. Too many people do this. Refrain from becoming a collector. Instead of collecting loads of material things that you will probably end up selling at a yard sale, invest you extra earnings wisely. It's all about early retirement planning. That's great if you are able to set aside 100 dollars each month. Stick that extra dough in a savings account and start early retirement planning. Think of how much you will have in 30 years. As time moves on, you should try and increase the amount. This extra cash really adds up. And another option regarding early retirement planning is investing in stocks. Hop online now and get a more in-depth scoop on the process.

The truth is that the lifestyle you can afford in retirement largely depends on you. How diligently you save. How wisely you navigate today's challenging markets. And, most importantly, how realistic you are in the assumptions you make about your retirement planning. Your best bet before you go ahead and start putting the numbers into a retirement calculator is to answer some really key questions about those assumptions and the life you hope to live.

Your Financial Future - Tips For Retirement Planning

Offering tips for retirement planning can open up a touchy subject. While some couples have been preparing for retirement their entire adult lives, others have barely thought about it. Neither end of this preparation spectrum is unusual, but it is clear that the former mind set will leave you feeling much more comfortable with your future. When it comes to planning retirement, a few tips might be just what you need to get a jump start. You might be working hard now, but that only means that you'll appreciate retirement all the more.

Beginning With Baby Steps

Following tips and advice for retirement planning does not mean that you have to sit down and draw up an extensive financial plan. Nobody expects you to be nearly this prepared! However, there are a few baby steps that you can take to make your future brighter. With each retirement planning tip you follow, you will see your future growing brighter and brighter.

The first step to retirement planning is making a few predictions. Nobody expects you to give an exact date of retirement, but it can be helpful to have a goal or an idea in your head. Having this target date will only make you work harder toward your goal. Next, estimate how much more money you will need to accumulate by this date. There are several on line tools that make this very easy.

The next tip for retirement planning is to investigate your options. You should be aware of what your basic Social Security benefits are-if you're not, you can easily find out by examining the Social Security statement that arrives around the time of your birthday.

Also, check with your boss to see if a retirement plan is offered through your place of employment; if not, ask about how you might start one. Talk with your tax advisor about IRA options, and seek general advice from a professional financial planner. The more information you know and the more questions you ask, the more prepared you will be for retirement.

Keep Your Common Sense

Much of retirement planning involves common sense, not tips and guidelines. For example, as you grow older, try to leave your savings alone for the most part. Try keeping a long term savings account for retirement only, and a separate short term savings account for emergencies. You will be sure to appreciate this money upon retirement.

Another piece of advice is to not fall for investment scams. These ploys for money get people every time-but they don't have to get you. Use your common sense when looking into any type of investment, and if you have suspicions, then you can always contact your Better Business Bureau or Secretary of State.

Changing Locations

Another tip for planning your retirement is to consider what your future living situation might be. Many retired elderly couples wait until they can no longer go up and down the stairs of their homes before they decide to move into a more manageable home. If you plan this move before hand, you will be sure to have more options, and perhaps even make a profit of your current house!

Investigating the cost of living in various cities and retirement communities can also prove to be beneficial during retirement planning. It might even be another way for you to save money. If you consider your living situation when you still have control of it, you will have many more options available to you.

Ready To Retire!

Planning for your retirement might seem very intimidating, but taking the time to think about it now will ensure that you are better off in the long run. A few baby steps in the right direction won't hurt you-only ensure that your retirement will be all the better!

Retirement Planning 101

Many financially successful individuals begin retirement with the belief that their personal savings and holdings, coupled with company retirement packages and Social Security will enable them to retire comfortably. The cliché "ignorance is bliss" may apply in some situations but certainly not when it comes to retirement planning. Failing to accurately calculate what your income and expenses will be during retirement can keep you from enjoying what should be one of the most relaxing and best times of your life.

Before you make any major decisions, it may be beneficial to review some of the common mistakes people make in retirement planning. Doing so can not only help you avoid such errors, but may motivate you to do some serious planning and saving before it is too late.

Better Late?

When it comes to retirement planning, many think that it is better late than never. While you can always begin planning later in life, the options and opportunities available begin to dwindle as you get older. If you do start later, you will have a harder time recovering from any life events or economic situations that may occur. Remember, you can never start saving and planning for retirement too early.

Company Benefits

Keep in mind that the retirement benefits your company offers may alone not be enough during retirement. People often misunderstand what their company benefits are and how they work. Make sure you understand and track your benefits so you will be able to make any necessary ongoing adjustments to your plan.

The Social Security Trap

Social Security should not be viewed as a safety net for individuals who retire with little to no income and assets, especially given the current situation of Social Security. At most, the program should provide a small buffer to help financially when you no longer have a steady income. Play it safe and keep in mind that Social Security should only be a small part of your overall retirement plan.


While Medicare is often the main health insurance for older individuals, it will not be enough to cover all health care costs. The costs of Medicare increase often and any difference in cost will have to be made up in some form, whether directly out of your pocket or ultimately from the cost of any additional health insurance you obtain. Be sure to take this into consideration during your retirement planning.

Perhaps one of the biggest mistakes people make is they seem to think they will need less money to live on during retirement. The cost of living does not decrease during retirement! While some individuals may be able to live on less during retirement, most can not. A number of things may attribute to this including rising health costs during retirement, leisure and entertainment costs, and travel expenses. In addition, individuals who may have had children later in life may be faced with college tuition costs. It is imperative that you closely (and realistically) analyze what your expenses will be during retirement so you can include them in your retirement plans. One of the best ways to achieve such an objective is to hire a financial analyst to help you plan your retirement. Doing so will ensure that you spend your golden years enjoying life to the fullest, not trying to make ends meet.

How to Use Retirement Planning Calculators

In terms of planning for your retirement, retirement planning calculators are an effective tool in order for you to decide exactly how much it should take for you to retire. Determining the particular amount that it should take you to retire isn't an easy to do. It is also a whole lot more difficult to decide how much money you need on monthly basis in order to live the kind of life that you want to live. This article gives some bits of advice that can easily help you out.

The internet is a terrific invention because it allows you to do a lot of great things. If you use the internet you will be able to find a large number of retirement planning calculators that you can use to your advantage. These calculators may seem easy to use but they are only guides and not precise numbers. Companies that supply you with these tools want you to opt for their services in order that you hire them to create a retirement plan so don't think too seriously about any numbers you see.

Any person over the age of 40 has to get serious about planning for their retirement and anyone below that age should have started thinking about it. Retirement planning calculators start off by determining what your current age is and also determining the particular age that you aim to retire. You should attempt to use two separate calculations and retirement ages that vary at least 7 years apart to see which one benefits you the most.

Other fields will attempt to determine the current income you earn now as well as the desired income level you wish to attain and the desired estate value. All these questions only go to show that these companies providing you with these calculators want to you to contact them because these questions are rather basic and not thorough enough to get to the real issues that have to be looked at.

Retirement planning isn't a very straightforward art and it is a very tricky thing for you to try to determine how much longer you may need to work before you can retire. It is also effectively difficult to determine how much money you require to live the kind of life that you want to for a particular month. Because of these reasons you have to seriously think of either visiting a particular company in order to have them carry out the calculations or use online means in order for you to benefit from one.

What you have to determine is what in particular you need to think about before you use any retirement planning calculator. The first of the things which you need to think about is to think about what in particular you dreams are because opting for something less won't make you happy or satisfied with the results you get. Retirement planning calculators can only calculate the figures that you input into it, your life should be a whole lot more important than anything else.

Retirement Planning in Canada

Retirement Planning! (Canada)

What is retirement planning?
A simple definition is: The setting aside of enough money during one's income earning years to provide an income during retirement.

Seems simple enough, doesn't it?
In years gone by it was possible for the money set aside in this manner and supplemented by Government assistance such as the Canada Pension Plan and Old Age Security, to provide for a comfortable and dignified retirement lifestyle.

Canadians have a Registered Education Savings Plan (RESP) for their child's higher education; however, I believe we also need a Retirement Education Savings Plan, for everyone else.
Neither age nor income level should prevent us from taking an active and proactive interest in our retirement planning.

We have been alerted to the possibility that those of us newly retired or soon to retire will not be able to count on the Government support that our parents did.
We are on our own!
If we are to achieve and maintain a financially secure retirement we must become knowledgeable, informed and involved in creating the income that will support our retirement financial needs.
Fortunately, technology has made it increasingly easy for anyone with the desire and initiative to get as much information as is needed to begin to take an active role in their own financial planning and welfare.

Because we are living such longer and more active lives many of us will need almost as much income as we needed before we retired.
Then too, health issues can place a bigger financial strain on our retirement income.
So, if we do not want to live a limiting and financially restricted lifestyle when we retire, we must take steps today that will ensure we have the financial means to enjoy a secure retirement.

So, how will you handle retirement?
Burying your head in the sand is not an effective plan. If you plan to retire, you can and should learn about the many effective and efficient financial strategies and vehicles that will ensure that your "golden" years really are "golden".

There are those in the financial industry who present a doom and gloom attitude about what they perceive will be the lack of sufficient retirement funds for a majority of future retirees.
I do not agree with this outcome as a foregone conclusion.

Retirement Planning Finance Software - How To Track Your Finances With The Right Software

Retirement planning finance software can be a huge benefit to in helping you to keep track of your income and expenses. Quite simply, the average person does not keep nearly as good as track of their income and expenses they should be, and then they wonder why they are so deep in credit card debt. Quite simply, a lack of knowledge of their overall financial situation is why most people find themselves in deep credit card debt, with virtually no way out.

The reason that most will find themselves in the rat race their whole lives is simply a lack of financial knowledge. This can be quickly overcome with the use of retirement planning finance software. Quite simply, this retirement software will easily and quickly help you to list your income and expenses and help you keep track of them, in order to help you plan for your retirement.

Simply by keeping track of your income and expenses, this will get you into a great habit for the rest of your life, not just your retirement planning. The only way to achieve financial wealth is to make sure you're bringing in more money than you're giving out; without this information, you'll never be able to achieve this, simply because you can't track it.

Of course, the task of writing down your expenses every single time you purchase something can be quite arduous; this is why at the end of every single day, you should list how much money you brought in how much money one out of your pocket. By doing this simple exercise and keeping a personal budget, you will get in a great habit of keeping much better tabs on your expenses, and ultimately will achieve financial freedom as a result.

Of course, retirement planning finance software can also help you to find out how much money a certain investment to your considering will bring in by the time you retire. Of course, without knowing your retirement planning goals, this information will be virtually useless; however, once you realize how much money you'll need when you're retired, this feature in retirement planning software can be tremendously useful for you in your budgeting. Therefore, purchased the right retirement planning finance software, and achieve the retirement goals you set for yourself.

Retirement Planning Expense Worksheets - Why Keeping Track Your Finances Is Crucial

Retirement planning expense worksheets can be a great way to help you keep track of your expenses in your everyday life. Unfortunately, the vast majority people will never take the ever important step to keep track of their income and expenses, in order to make sure that they taking in more than they're getting out.

Of course, this is not all their fault; most people were not taught very much in the way of finances through school, and therefore have little idea how to turn a profit and be profitable. Retirement planning expense worksheets can be a great way to help you keep track of your expenses and make sure that they are lower than the income you're bringing in.

Also, there's some great retirement planning software you can usually find on the Internet to help you in this process as well. So how can you best utilize these worksheets? First of all, set up your income and expenses in the form of an income statement; now, every time that you make some money, list it as income.

Every time you spend money, list in as an expense. Keep this tab every single day, and check on it at least a couple times a month. This way, you will be able to make your money and investing decisions accordingly. At the end of every day, sit down and do this, and make it a nightly routine; inevitably, you will become more aware of your finances, and you won't find yourself in the hole every month, like you probably do now.

Of course, one of the best ways to achieve your retirement plan goals is to invest your money. Don't simply spend your money as fast as it comes in; put aside a lease 10% of every paycheck you get in into wealth building fund.

Most people will never take this simple step, but it will pay huge dividends for you down the road, when all the compounding interest is working your favor. In fact, Warren Buffet called compounding interest eighth wonder of the world.

The bottom line is this: retirement planning expense worksheets are essential in order to help you keep track of your income and expenses. Simply being more aware of your finances and your overall financial situation will make you will help you make better financial decisions when it comes time to buying or investing in certain items.

Not keeping tabs on their income and expenses is why the average American today's $8,000 in credit card debt. If you keep better track of your expenses, you will find yourself in this situation.

Retirement planning expense worksheets will definitely help you to keep better track of your expenses and your overall financial situation. Ultimately, this will be a great benefit to you in helping you plan to plan for your retirement and achieve your retirement goals.

Retirement Planning Reasons Starting Early - Why You Must Start Soon To Achieve Your Goals

Many people are looking for retirement planning reasons for starting early. It's never too early to start planning for retirement. In fact, starting right out of college is ideal help you achieve the retirement you've always wanted to.

Unfortunately, most people don't start thinking about retirement until it's too late, and find themselves in a bad situation when they hit retirement. In fact, 95% of people will not have enough money to retire comfortably.

Of course, this situation could have been rectified with early retirement planning. The unfortunate part is that most people graduate college saddled with debt already, and when they take out a mortgage and a car payment, they are pretty much stuck for life trying to pay off their debt.

This is the situation a most people find themselves in, but it doesn't have to happen to you. Here are so important reasons to start planning early for your retirement and help you achieve your retirement goals.

First of all, some of the best reasons to start planning early for retirement is the simple idea of compounding interest. There are many examples of how people who started investing simply 10 years earlier than someone else ended up with a fortune more when they retire.

Compounding interest, as Warm Buffet calls it, is the eighth wonder of the world. If you take advantage of compounding interest, you'll have more than enough money to retire. Of course, most people never take advantage of this and end their working careers with not enough money.

So what kind of investment should you look for when just starting out? Look for good investments where the financial situation is good, and it will stay that way for the foreseeable future. This could be applied to both real state of stock investing.

For instance, with the stock market, you might try looking for companies that have been doing well financially for quite some time, and have a good future outlook. For real estate investing you can find a real state investment that has been raking in the money for years on end, and which looks like it would continue to in the future. When looking for retirement planning reasons to starting early, compounding interest should definitely be at the top of your list.

Investment Retirement Planning Services - How To Find The Best One Quickly

Investment retirement planning services can be a great benefit to you as you plan your retirement. Quite simply, there few times in your life as important and hopefully enjoyable as your golden years.

Many people dread this time of their life because they are afraid of growing old. In reality, retirement can be one of the greatest times in your life. The reason for this is simple: you can do many things in your retirement years that you were never able to do while working, because you now have the time available to do so.

Investment retirement planning services can help you achieve the money you need in order to live the lifestyle you've always wanted to in your later years. How do you find the right one for you?

First of all, as I've said many times before, you need to have a plan in place in order to know exactly what kind of lifestyle you want to live during your retirement years. Once you know this, figure out how much money you'll need in order to live that kind of lifestyle, and only then should you even begin looking for retirement planning services.

For this, you can save a lot of time and hassle by checking the Internet; instead of going to the yellow pages and calling every company in the book, go to the Internet and you'll be able to find out information on literally hundreds of that thousands of companies at the click of a button. Also, check with any friends or family you know if who've already use retirement planning services and find out which worked out for them.

When evaluating investment retirement planning services, it's always important to find out if the advisor is using the exact same investment they are advising you on. If they tell you to invest in a particular investment you know they aren't using themselves, that should be a red flag.

Also, another great method of evaluation is to read reviews on that particular company on the Internet, and find out what have experiences other peoples had with this company. Follow these important steps in finding the right investment retirement planning services, and you will locate the right one to help you achieve your retirement goals.

Retirement Planning Has Become Contingency Planning For Baby Boomers

Baby boomers are justified in longing for the 'good ole' days when it comes to retirement planning. Our parents path to retiring was so defined compared to ours it is hard to understand if any planning had to precede the retirement.

Contingency planning has become as important as any aspect of retirement planning with the exception of wealth creation. And if you do not plan for the contingencies you really have no idea how much wealth needs to be created.

Why is there such a difference between our retirement (I am a baby boomer) and our parents?

Healthcare- We might as well start with the biggest contingency of all. It was common for our parent's employers to offer healthcare insurance in retirement for its former employees. Health insurance and healthcare was a more manageable expense a generation ago.

Today it has become so expensive most employers do not offer healthcare insurance for retirees. Since employers are subsidizing 70-80% of employee healthcare costs while baby boomers work, it is likely that only about 3-4% of your expenses are healthcare related. When people retire and do not enjoy the subsidies any longer their healthcare expenses rise to 12-15% of their living expenses.

Planning for this expense might keep you working a few more years. Ignoring it could cause you to fall short of money in retirement. Medicare will help, but studies show a couple age 65 to 80 should expect to pay $232,000 in healthcare expenses that Medicare does not cover. In addition healthcare expenses are rising three times faster than inflation so expect this variable to get worse before it gets better.

Pensions vs. 401K's- Pensions were very popular employer offerings in our parent's generation. Basically pensions are defined benefit plans that gave the employee an accurate estimate of how much monthly income (or lump sum dollars) would be available when the employee retired.

The prohibitive corporate expense of offering pensions has caused them to go the way of the dinosaur and be replaced by 401K's or similar retirement plans. 401K's have nice tax advantages but the burden of creating wealth has fallen on the employee and the results are not as predictable. On a positive note the results could be better with savvy investing but the uncertainty creates another contingency to plan for.

Social Security- Our parents had no worries about Social Security being there when they retired. Even though it will most likely be there for us (or pity the politicians that take it away), it will probably be less money than we are currently told we will get.

In 1930 there were 30 workers supporting every retiree in America. In 2040 there will only be 1.1 workers for every retiree, so changes are likely. In the past Social Security has funded 25-33% of retiree's expenses. That range will probably decrease for us.

Life Expectancy- The good news is we are living longer than our parents. However we have to fund the extra years of our lives which is another contingency to account for in our retirement plan.

Alright, our parents enjoyed a more predictable retirement. Pensions and Social Security provided predictable income streams. Employer provided healthcare for retirees and younger mortality rates made expenses more predictable. Just because our parents retirement was more predictable does not mean ours cannot be better. A well managed 401K and IRA can yield much higher streams of income than pensions.

The important point for baby boomers is to start saving and investing today if you are not already. Also put together a retirement plan that accounts for the above contingencies as well as inflation and major expenses. That is the only way you will know how much wealth it takes to retire. If you do it right you will most likely enjoy a very comfortable retirement... Good Luck

Tips on Money Management for Retirement Planning

Managing Money in Retirement

We all have retirement plans to do something or the other once we retire. Some of our plans may be simple while others may be outlandish. Irrespective of what we dream, it is highly necessary that we manage our money so that we can materialize those plans. A beach house in the Bahamas or even a simple log cabin in Wisconsin is unlikely to come by if you are prudent with you financial management.

You need to start saving and investing way before you actually retire so that you can have an easy life and do not have to worry about your finances. However, one important factor that people tend to overlook is deciding upon the ways by which they wish to manage their money once they retire.

You need to consider the manner in which you plan to spend the rest of your life and also decide how you would have to manage the money so that it can last for long. The amount you receive on retirement in the form of pension is a fixed amount which is less than your salary. In such a situation, you need to plan a proper way by which you can spend the limited money. Proper planning can help you to mange this money easily without any tension.

You cannot estimate for how long you may live. You may live to be a 100 or die at an early age. However, according to the recent surveys, the life expectancy is going up. Keeping this in mind, you need to do proper planning so that you can manage your money easily. You need to estimate the money you would need after your retirement. It depends on the kind of lifestyle you wish to follow.

When you think about a retirement plan, choose the one that helps you to save more money. When you make any kind of investment in order to secure your future, keep a tab on it to make sure whether it is keeping up with the inflation rate or not. Invest wisely. Try not to withdraw more money than you actually need. When you choose a retirement plan, choose the one that provides you with a pension throughout your life.

Apart from your regular retirement plan, invest in stocks and bonds as well so that you have an additional source of income after retirement. Investing in real estate is also a good option. If you plan to withdraw some portion of your investment then try not to withdraw more than 4 % of it. This way the money would last longer.

To get more benefits from your Social Security program, do not retire before the actual retirement age. When you retire at this age or after it, the benefits that you receive are much higher.

If you still think that you will not be able to manage your money after retirement, you can even think of working after retirement. There are various options available in this regard. It can help you to manage your finances and also help you to pass your free time. Thus with proper and thoughtful planning you can easily manage your funds once you retire from your work. Keep a tab on your investments and do proper research before you opt for any retirement policy.

Age People Consider Retirement Planning - Is It Ever Too Early?

So what age do people consider retirement planning? Unfortunately, for many people this age is way too late. The truth is it is never too early to start plan for retirement, because of the wonders of compounding interest.

The honest reality is this: most people get out of college saddled with a lot of debt, then take a mortgage for their home, car payment, and are pretty much in debt for the rest of their life. Therefore, they spend the rest of their life trying to pay off their debt and keep up with the bills, instead of playing for retirement.

Once they reach retirement, they realize they don't have nearly enough money to live on. They should not be a problem for you, if you manage your money wisely.

First of all, realize that as it is never too early to start retirement planning, even if you're just beginning your working career. In order to know exactly what you want to do, first you need to figure out what kind of lifestyle you want to live during your later years. While this seems obvious, most people never do this simple step.

For this, sit down and map out exactly where you want to travel, what kind of house you would like to live in, and exactly what kind of lifestyle you want to live in your retirement. Once you know this, simply figure out how much money approximately this will cost, and then find the right investment vehicle to get you there.

Here's a helpful tip; one of the least known about and most overlooked investment vehicles for retirement planning is real estate. Quite simply, real estate investing provides a long term passive income, and requires very little effort once you know what you're doing. No matter what age you consider retirement planning at, real estate investing can help you achieve your goals.

However, there are many other vehicles for investing for you to examine, such as stock market, bond investing, it etc. You need to simply find out for yourself which investment vehicle will help you get your goals fast as, and do that.

Remember, there is no age at which people consider retirement planning that is too early. Follow these important tips, and you'll be able to achieve whatever retirement goals you set yourself, no matter how lofty.

Monte Carlo Retirement Planning - Have You Stress Tested Your Retirement Plan?

Retirement planning is all about managing the unknowns. Nobody can be certain of how their investments will perform, how well they'll be able to stick to their savings plan, or how much their retirement spending will really be. Yet, each of these variables must be estimated in order to build a solid retirement plan. To make matters worse, investment results are anything but uniform from year to year, and large variations in annual portfolio returns can wreak havoc on even the best retirement plans. Yet, despite all this, many seasoned financial planners are still using archaic tools that don't account for the uncertainty and volatility that's inherent in all long-term planning.

Fortunately, thanks to some powerful new retirement planning research, you are no longer constrained to those simple minded approaches. Breakthrough research has led to a new retirement planning approach called Monte Carlo Simulation. Monte Carlo retirement planning can be used to help manage the unknowns and give planners and future retirees better information about the risks and potential pitfalls hiding along the retirement road that lies ahead.

Monte Carlo Simulation is a planning technique that provides answers in the form of probabilities, or a likelihood of success. Instead of a simple yes or no, black and white answer, a Monte Carlo retirement calculator returns the percentage chance that the plan might work. A retirement plan with a 50% probability of success has the same chance of failing as it does succeeding. Odds like these that would leave most very unsettled. On the other hand, a plan with a 95% probability of success has only a one in twenty chance of failing. Now those odds would make for much sounder sleep.

Another important benefit of this powerful approach is that it allows you to easily build a "model" of your retirement and run experiments with it. Today, the best retirement plans are "stress tested" to expose the weak points and vulnerabilities. Are you worried about what the expenses of long-term care might do to your retirement plan? You can model them in your plan. Are you concerned about the effects of a 20% stock market crash, five years into your retirement? Simulate it. The possibilities are endless for modeling or simulating expected and unexpected situations that could impact your plan. These tools put you in the drivers seat so risk and uncertainty can be kept in check.

You'll be able to use the insights you get from stress testing to make better decisions about how best to protect yourself down the road. Perhaps a long-term care insurance policy is called for, or maybe the simulation will show you that your plan is robust enough to weather even this storm, saving the premiums for a fine European cruise! You thought you wanted to invest your portfolio aggressively for the highest returns, but seeing real numbers that clearly show the potential downside of that high risk portfolio might lead you to reevaluate your risk appetite.

So, you're thinking this sounds good, Where do I start? Well, if you're working with a financial advisor, this is certainly something you should take up with them. Ask them if they use Monte Carlo Simulation as part of their planning process. If you're a do-it-yourselfer, you might like to try a free online Monte Carlo calculator called the flexibleRetirementPlanner that lets you run your own retirement simulations.

Either way, it's clear that the days of leaving retirement planning to chance are over for good. Now, you have the power to manage risk and uncertainty and build a retirement plan that's just right for you and your family.

Financial Freedom Retirement Planning - Achieve Your Objectives Starting Today

Financial freedom is very important for retirement planning? Obviously, everybody wants to live the wealthy lifestyle in their later years. Unfortunately, the vast majority of people fail to live the lifestyle they've always wanted when they are done with work, due to lack of money.

In many cases, they are forced to continue working well past retirement age just to make ends meet. This regrettable situation could have been easily changed with some simple planning and investing. Here are some tips to help you achieve the financial freedom and lifestyle you've always wanted in your golden years.

First of all, keep in mind that the most important part of any retirement planning activity is to know where you want to be at the end. All too many people have no idea of the kind of lifestyle they wish to live when they retire, and yet they attempt to conduct retirement planning without any clear objective in mind.

This is akin to getting in the car and driving without knowing your final destination. Therefore, an important step for you to take before retirement planning is to sit down and write out exactly what you want to accomplish for retirement. Write out the kind of house you want to live in, car you want to drive, lifestyle you want to live, etc. hold nothing back in this process.

Now, put that sheet in a place where you can view it often. This instills in your subconscious mind your retirement planning goals, and you will come up with ideas to help you achieve it, just by merely looking at it and visualizing already having it.

Once you have this financial freedom lifestyle in mind, determine how much money you will need to live the lifestyle, and then find out the investment vehicles that will help you get there. I highly recommend you learn retirement planning investing for yourself, so you can take charge of your financial future.

All too many people entrust their financial freedom retirement planning to a financial services company when they should take control of it themselves. Simply read every book you can find on the topic of investing and making money. Follow these tips, and you will be well on your way to living achieving financial freedom in your golden years.

Business Investing Retirement Planning-Achieve Your Retirement Goals With The Right Investing Plan

So you want some business investing for retirement planning tips? Unfortunately, in today's day and age, many get to the end of their working years completely broke, and are forced to continue working long into what was supposed to be retirement.

You don't want this to happen to you. Retirement should be a time to experience the things you never had a chance to while you were working; don't let a lack of finances rob you of these experiences, especially when they are so easy to obtain.

First of all, in order to achieve your retirement objectives (and therefore know which business investing avenues are best) you need to know what you want to do after you retire. Do you want to own a beach house in California? Travel 10-15 times per year? Just stay around the home and relax?

Knowing this info is critical. Without this, how will you ever know if you are closing in on achieving your goals?

Once you have your goals planned out, now it's time to figure out how much they will cost. This is where a retirement planning calculator comes in. often times, you can find a free one online.

Many companies give these tools out hoping that you will decide to go with them to receive retirement planning advice. Whether you do or not, at least use the tools to figure out the money you will need to retire on.

Now that you know this, figure out how much money you make now, and how much you will need to earn between now and retirement to accomplish your objectives. Only now should you begin looking for an investment vehicle that will get this for you.

For instance, if you have loftier ambitions, and want to travel 15 times a year, then you will obviously need more money than if you were just planning to relax around the home. If this is the case, and depending on when you are beginning investing for retirement, you will want to invest in a more aggressive investment vehicle (of course, this varies depending on whether you are starting at a young or older age).

Once you've found one that provides a sufficient rate of return and will continue to do so until retirement, stick your money in there, and then keep close tabs on it. Remember, nobody else is responsible for your financial state; it's only you.

If you don't know enough about business investing for retirement planning to spot a good opportunity, then either learn yourself or hire a financial planner to figure this part out for you. The most important thing is that you have a plan, and stick to it. This way, you will achieve your retirement goals faster and more easily than you ever imagined possible.

Retirement Planning - When Should You Retire?

Retirement planning is not just about how much you have saved in your retirement account. Your state of mind and ability to fill your days with rewarding and productive activities are just as important as the amount that is stashed away in your retirement account.

Here are some questions to ask yourself:

1. Do you reluctantly go to work each day? If not,. and you still enjoy your job, you're probably not ready to retire - - keep maximizing your contributions to your workplace retirement account, particularly if it is employer matched. If yes, you may be ready to retire (or to change your job).

2. Do you know what you want to do when you retire? If not, it's time to think about the possibilities. If yes, you may be ready to retire.

3. Will your retirement lifestyle and interests require additional income? (Ex: travel, golf). If so, have you saved enough to afford these luxuries? If no, you'll need to modify your interests or keep on saving. If yes, you may be ready to retire.

4. Do you plan to work part time or in a less demanding job in your retirement? If yes, you may be ready to retire. Be sure to calculate this income in your retirement income planning.

5. Do you plan to start a long dreamed-of business, and do you have with the additional capital needed for your enterprise? If yes, you may be ready to retire. Good luck with your business.

6. Are your children self-sufficient? If no, when do you anticipate they will have graduated and entered the workforce? You might want to wait until that time. If yes, you may be ready to retire.

7. Have you and your spouse sat down to discuss how you want to spend your retirement time? Do you agree? If not, it may be time to have that conversation? If yes, you may be ready to retire.

8. Will your spouse continue working? If yes, are you able to keep busy and fulfilled during retirement without the company of your significant other? If yes, you may be ready to retire.

9. Is your mortgage paid off (or almost)? If not, are you ready to move to a smaller house or a less expensive location? If yes, you may be ready to retire.

10. Are you over 62 and qualified for social security benefits? If yes, you may be ready to retire.

11. Are you over 59 ½ with a sizeable IRA or 401(k) account? If yes, you may be ready to retire. If not, do you have another source of income to that will support you in your retirement? If yes, you may be ready to retire.

12. Have you already saved enough in your retirement account to sustain your lifestyle until you are 90? If not, it may be time to increase your retirement income savings contributions. If yes, you may be ready to retire.

13. Did you answer yes to 10 or more of these questions? If yes, you're probably ready to retire.

Retirement Planning Tips For Women

A lot of the attention to retirement planning lately has been spent on preparing men for retirement. That's a crock since women are going to live longer than men. And still have the rest of the retirement savings, what's left of it anyway, to use for the rest of their years.

But, if a majority of male baby boomers are having trouble saving for retirement, are female baby boomers in the same boat?

You don't have to answer. I'll pretend you nodded.

This article will talk about how women can plan for their retirement and start saving for their retirement lives.

Setting up a retirement plan and saving for your retirement may be many years away for you but, if you start early, especially in your twenties and thirties and do that until you retire in your fifties and sixties, you'll have a much more comfortable retirement than your female counterparts who didn't save anything and now are relying on the government to help them out.

Planning for your retirement may seem too far in the future but it can be here before you know it and the sooner you start saving the better off you'll be when it sneaks up on you.

Studies show that there are 60 million working women out there and a little less than half are enrolled in a retirement plan. It will be hard to have a retirement fund if there are no contributions to it.

Women don't work as long as men do at the same job. This is due to taking time off to care for the family to raise the kids. So women don't build up the required years to qualify for a sizable pension or retirement plan, leaving them with little or no savings from the companies they are working for.

Women live longer than men. If you retire at 55, you can expect to live another 27 years on average. Men can expect to live another 23 years on average. If you're married and your husband was the bread winner and you have no retirement savings of your own, where will the income come from for those extra 4 years?

Women also are risk averse when it comes to investing, choosing to invest in conservative investments and bonds which have guaranteed returns but lower overall returns. You'll preserve your capital but you won't have much to show for it when you retire and start drawing on those savings. So the choice is either have more money working for you in low, but safe, investment vehicles as you near retirement or invest more aggressively.

Either way, women need to read about retirement planning as much or even more so than men because you will be spending more of your life in retirement. Talk to a financial advisor, read retirement planning books and check out all the free resources out there to help you save for your retirement. Most people have less than $60,000 saved in a 401k or IRA. There is no way this will last men or women for 20+ years of retirement. The government is not going to be able to supplement everyone...

Online Pastoral Counseling Degrees Certification and Education

Online Pastoral Counseling Degrees are in great demand. The effectiveness of spiritual counseling has brought about considerable interest regarding the subject of Christian or Pastoral Counseling. By integrating information from the secular discipline of Psychology with resources from the realm of the Spirit, Pastoral Counselors have become very much in demand because they proven to be effective when dealing with difficult issues such as drug addiction, alcoholism, marriage, sexual abuse. There appears to be little distinction between Christian and Pastoral Counselors, most people appear to use the terms interchangeably

In the past this, what little Christian Counseling education that was taught happened in seminaries. However, most seminaries do not have programs dedicated to the study of Pastoral Counseling. Consequently, to meet the demand to for qualified Pastoral Counselors a number of institutions have risen to meet the needs of those called to this ministry.

Unlike Psychological Counselors, who are held accountable by state governments, Pastoral Counselors are ministers. Pastoral Counselors will typically either become members of an existing church ministry or they may choose to create a ministry of their own. As long as they are suitably educated and licensed, they become accountable primarily to the church rather than the state.

Of course, it is important to check out the laws in your state to be sure of the format your ministry is consistent. There are Christian Law Associations that can assist you in this. Christian Counseling is a legal, legitimate profession in every state, but the exact verbiage used to represent what the counselor does must adhere to each state's statutes.

There are several national bodies that provide education, certification, licensing and oversight for Pastoral Counselors. The oldest and largest of these appears to be the National Christian Counselor's Association (NCCA). There are others such as the American Association of Pastoral Counselors AAPC), and the American Association of Christian Counselors. (AACC) The AACC historically has been a supporting organization for those already involved in the ministry, while the NCCA is more oriented toward training and education.

Pastoral Counseling can be learned entirely on a self-paced schedule. Most course are available in a home study or online format, allowing for them to scheduled for the convenience of the student and do not require classroom attendance.

Christian Counselors have been successful at adopting therapeutic models based on temperament. While some of these models hark back to Greek roots thousands of years ago, the testing methods and results are a modern as an cellular phone. Whether they refer to the temperaments as DISC or Melancholy, Choleric, Sanguine, and Phlegmatic makes little difference. One of the things that has created much success for Christian Counselors is the availability of powerful assessment tools that enable them to get to the heart of difficult problems and formulate effective treatment plans. Christian Counselors realize that people need answers to their problems, not just hand holding.

What Parents Need to Know About Educational Consultants and College Admissions

High school counselors spend an average of 23 minutes working with their college-bound students on the college search and planning process. Most high school counselors work with more than 350 students. Few high school counselors are able to visit colleges or attend conferences because their schools do not have the budget for them to do so.

Many parents do not feel they have the ability to serve as a guide to college for their teenager. This is a real concern for families. What's a student to do? Many are turning to educational consultants who are helping to fill this gap. They have the expertise to assist college-bound students with the college search and application process. They also have the passion and the time.

Here are nine reasons why an educational consultant could benefit your college-bound student:

1. They are experts in the college admission process and visit colleges and universities extensively every year to determine the unique qualities in each school.

2. They help students with the college search and are not just interested in brand name schools, but want to find colleges that fit your student's academic and personal needs.

3. They do not have an emotional attachment to your child and this allows them to provide unbiased, professional advice.

4. They get to know students on a personal basis which enables them to help students become stronger college applicants.

5. They help provide direction for students on their applications and essays. This assures students that they are adhering to deadlines set by their high school and colleges.

6. They assist students and families in finding schools that are affordable. They also provide information on financial aid and scholarships.

7. They are not limited in the number of hours they can work with students. This allows them to be available when students need them, with the answers they need.

8. They want to help students find colleges that are committed to seeing their students graduate in four years, rather than the usual five, six or more. This can save parents a considerable amount of money.

9. They are members of professional organizations like the National Association for College Admission Counseling (NACAC) and Higher Education Consultants Association (HECA) and attend state and national conferences to continue their professional development.

A college education is one of the most expensive investments a family will make. It should be obvious that more time and thought needs to go into the college search and admission process. Most educational consultants charge affordable fees and are very generous with their time. Many families believe that hiring an educational consultant is the best investment they have made.


There are many loan services that you can find on the internet today. You can get business loans for your small business easily from EZUnsecured loan service. This loan service can provide small business loan rates that are below the other business loan services that you can find online. It is also easy to apply small business financing at this loan service. You only need to wait for less than a week of working days to be able to get your loan money wired to your banking account. Now you can provide funding for your business financial, paying of your expenses, and also do the business expansion. There are many references that you can get online about business loan and personal loan rates at EZUnsecured loan online.
Small business loans are dedicated for small business owners who are looking for fast $15, 000 loan money to accommodate their business financing. Only by applying the application form online and wait for further administrational needs, you will be able to get the funding for your business s easily. Unsecured line of credit is available online and there are various rates that you can find online. At EZUnsecured, you will be able to get small business loan rates that will be affordable for your business. Small business loan is provided for you online so that you can apply it whenever you need.

Editing photo without any skills

People say that a frame of picture worth thousands words. However, some picture might be just so fair that it cannot convey any word. To make your photo more fun, you can apply some funny photo effects book to your picture. You do not have to worry if you do not have any Photoshop.
There are so many websites in the internet that can help you get the best funny photo effects birthday. Using this kind of website, you do not need to have a good skill in Photoshop. Just upload your photo and in a matter of minute, you can get funny photo effects Christmas or any other kind of photo effect.