Everyone is needed financial security in some current stage of their life. While financial security in retirement is involving more freedom from fear and anxiety about having sufficient financial resources in later life. Whether considered from an individual perspective or from a societal view, the attainment of financial security in retirement may hold challenges. (more…)

Early Retirement Incentive Plans extend the benefits offered to workers or give additional financial inducements that motivate employees to retire prior to the age or time they otherwise would retire. Early retirement incentive plans first appeared on the employee benefit landscape in the late 1970s and early 1980s. The nation was struggling with “stagflation,” and many firms sought to reduce their labor costs without resorting to layoffs. At the same time, the long-term trend toward earlier retirements was proceeding unabated. Many workers expressed a desire to enjoy the “leisure” that could be secured through the early retirement provisions of many companies’ defined benefit plans. (more…)

For clues to how much it will cost you to live after retirement let us turn to a study made by our government in 1959. To make this study goods and services which represented a modest standard of living for a retired couple were priced in 20 American cities. The following table shows the annual cost of living for a retired couple in the city of Detroit: (more…)

The key to good medical care in retirement is a family doctor. Most people reaching retirement age will have had a physician of their own for years, and will have developed a strong and loyal attachment to him. By earning the family’s confidence, the doctor will serve as a trusted advisor capable of treating and preventing disease, and of mobilizing all the health resources that a community has to offer. (more…)