Planning for RetirementHelpful tips in planning for your retirement
As time goes by, if things go well, we age gracefully. And as we
prepare for aging financially that stage is referred to variously but
still commonly as retirement, even though that word has taken on so
many different meanings for people nowadays - with living healthily
longer and with lifestyles becoming less predictably similar than they
were in earlier times.
Whether we actually retire in our later
years in a conventional sense is actually less the issue than simply
preparing to live in senior years. It is more likely that more of us
will be seeing them than it was even for our parents and grandparents.
always the easy path to preparation is to start early, the earlier the
better because of the time-value of money also known as compounding
interest. There are many kinds of retirement plans now that have
various tax-related incentives for savings for retirement.
is a general appreciation that Social Security benefits, although
universally available to all invested workers and distributed to most
senior citizens upon reaching their retirement age, is not really
satisfactory income for our golden years. It's simply not enough to
live our still active lives so we need to plan on supplementing it with
whatever savings (or revenue) we can muster independently, small or
Social Security also provides survivor benefits for our
spouses and certain other immediate relations. So too should our
independent retirement plans by way of our estates or other plans by
passing our assets to named heirs in an orderly and economical (i.e.,
minimal tax) way. How do people become wealthy?
Is my money safe?
Good practices for budget-minded people
What about Social Security?
What is a budget?
Minimizing the risk of ID theft
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PlanIt - Plan It is an online toolkit designed to help baby boomers plan for—and achieve—financially secure retirement years.