If we boil things down to a simple two-part equation, retirement planning is all about managing inflows (income) during your earning years and outflows (expenses) during your retirement years. Of course, retirement means different things to different people at different points in their lives. Rather than a static state, retirement is a dynamic state, changing with life events, financial events, and even your own education as you learn more about concepts and products. The more information you absorb, the more comfortable you feel in being an active participant in the retirement planning process. Your plan for accumulating assets for retirement has to take all of this into account and be flexible enough to adapt to all kinds of changes. (more…)

Once the cash flows to be financed are determined, whether via a detailed version of the determination of planned expenditures or the simpler “rule of thumb approach,” the question of how each $1 of assets will be turned into an income flow must be addressed. How much income will each dollar generate, and for how long? This is the basic issue of longevity risk (the risk that a person will live either beyond, or not until, their “life expectancy”). This source of uncertainty presents perhaps the most significant challenge for cash flow planning in retirement. (more…)

In the U.S. the laws that apply in a divorce fall under the jurisdiction of each state. Some things may vary from state to state but which is usually constant when the alimony of the spouses is meant is that this can be paid by both the husband and the wife. (more…)

Americans are increasingly become aware and responsible for their retirement wealth. Many of us are know that the prospect of living with social security income and a employer pension plan is reduced dramatically and not attractive. More and more pensioners and retirees are less put trust on traditional sources of income; saving for retirement and work part time are seen to be more attractive. But the condition for future pensioners and retirees will be getting worsened. Given the desire to build a large nest egg for retirement was the need to build a replacement income. (more…)

How much do you need? How much do you already have? How much time do you have to save? These are the questions that lead you to a successful retirement saving plan. A well-thought out and diligently followed plan leads you to your goal. This section walks you through the major steps in planning for your post-retirement financial needs. (more…)

To get you started, here is a hypothetical timing schedule. If you are 50 or older, you need to condense retirement planning steps into a shorter span of time. Either way, they can act as a guide. It is never too late to design a retirement strategy.

Early financial planning is best. (more…)

How much money to retire do you need? How much do you already have? How much time do you have to save? These are the questions that lead you to a retirement saving plan. A well-thought out and diligently followed plan leads you to your goal. This section walks you through the major steps in planning for your post-retirement financial needs. (more…)

When you retire, are you going to have enough money to meet all your expenses and keep up with inflation? If you are like the vast majority of us, your answer will be a resounding, “NO”!

Statistically, 95% of people retire with too few financial resources. (more…)

Retirement and retirement income systems are relatively new and evolving institutions. Paradoxically, industrialization created both the need and the opportunity for the nation’s “old-age retirement income support system.” Improvements in nutrition, sanitation, and public health led to more people reaching old age and living longer once they were there. (more…)

To qualify for Social Security benefits, you must have worked a certain number of years. Your eligibility is measured in credits. If you were born after 1929, you must accumulate forty credits or work for ten years to qualify. You earn one credit for each quarter of the year you work.

You can begin to receive benefits as early as age 62, (more…)