Dr. Walden's 8-Step Retirement Plan

Personal; I want to better myself and further my education. My family is successful without college but they always regret not taking college sooner. I am trying to achieve my goals as becoming a pilot, so when I retire I may be an airline pilot as a civilian. I want my future to be planned and free of the stress of wishing if I had done this in the past things would be better now.

Since my social security will kick in at the age of 68 so according to 4% annual pay 460800 for 24 years

M.Q. said that she considered herself retired at 64. However, she began planning for her retirement almost thirty years prior, at the age of 38. As M.Q. was a registered nurse, she did not start a 401 K. Instead, she started a 401 B. One of M.Q.’s chief joys and complaints about retirement is all of her free time. She enjoys it because it lets her spend more time with her extended family, her husband, and her dogs. She dislikes it because she often finds herself

There would be some improvement with the implementation of “Reaganomics.” Ronald Reagan’s policy was proposed in 1980 and it was

- What to look for low interest rates, no annual fees, no hidden penalties or charge.

America would suffer from one of the worst financial disasters in history after the stock market crash of 1929. A period in history commonly referred to as The Great Depression (1929-1939) would take the workforce by storm. The country’s unemployment rate would reach a record high leaving millions of Americans out of work or laid off by the mid 1930s (Smiley, 2014). “The Great Depression is often called a “defining moment” in the twentieth-century history of the United States. Its most lasting effect was a transformation of the role of the federal government in the economy” (Smiley, 2014). As a result, families were unable to repay debts such as farm loans and mortgages leaving financial institutions in the red and failing to recover.

However boomers and “non” boomers alike will face social changes as this group matures into their late adulthood. Many boomers prepared for their retirement by working hard and saving money. Boomers such as my own parents are good examples of how boomers will be affected. They did not over extend themselves during the recession and they made wise financial decisions. They invested what was perceived as healthy investments in real-estate and the stock market only to take on major economic losses in the last decade. Although my parents are not struggling to make ends meet, the rising cost of insurance and health care may have negative effects on their finances in the next decade.

According to a USA Today article from last year, nearly sixty percent of Americans have more than $25,000 put away for retirement. Thirty-six percent of Americans have less than $1000 saved for later in life. This means that as more people, especially the baby boomer generation, retire, there will be more strain on program such as Social Security and Medicare, and ultimately the federal budget that is responsible for these programs. If steps are taken now to close this gap, we will insure the continued longevity of these programs by raising the tax contributions flowing into both Social Security and Medicare.

By nature I am not a gambler, so when investing my money, I want less risks as

Costa, D. L. (1998). The evolution of retirement: Summary of a research project. The American Economic Review, 88(2), 232-236. Retrieved from https://search.proquest.com/docview/233045640?accountid=41759

The age markers are slowly changing and so is the concept of retirement. The modern aged community is unwilling to declare themselves as retired. One of the respondents made a statement that he wishes to work as long as he could do. A self declared retirement will make one detached from activities thus speeding up the ageing process. An earlier retirement will most probably make the individual feel old soon and this emotional drift will have a dramatic influence on his physical as well as mental and emotional health as well.

Political climate change, Political philosophy say that it would not increase or decrease. Political philosophy think that when you are not sure, select the option that minimizes profits and assets. This would have been more conservative if only underfunded plans were book to liabilities and overfunded plans were just reported in documents but no asset booked. Given the extensive assumptions, the certainty of future benefits is not very high. Overfunded plans can turn too underfunded with one deep plunge of the stock market, as happened in fall 2008. According to www.nrln.org an good example, General Motors used pension assets to pay for nearly $3 billion in lump sum severance payouts during 2008 and ended up with such a dangerous degree of under-funding that in early 2009 the Treasury Department restricted the practice as a condition of the federal bailout loan package. In 2012 it terminated its plan for management and salaried retirees entirely. (www.nrln.org)

Personally, I don’t plan on retiring until I truly must. I plan on surpassing the retirement age and keep working. I am the kind of person that enjoys working. Of course, I would cut back on hours, with me wanting to become an ER nurse, aging would put a toll on how much I could work at one time. But I would wait until I truly had to retire. I am what they call someone who

My physical condition at 78 years of age will reduce significantly since my body is decaying more and more. I will walk for several hours to help my muscles and bones to exercise. I will be living in Colombia in a quiet town with my husband, who would have 84 years, and also we will be close to my brothers. I will be living in an independent situation with a sense of place which refers to the cognitive and emotional attachment that a person puts on their place of residence, by which a "house" is made into a "home". (Kail & Cavanaugh, 2013 Pg. 569). I've been doing my contributions to obtain a retirement in Colombia and besides, I hope to be well off enough to supply all my needs. At that age I just hope to see my children succeeding in their

1. This is understandable because most of us probably think that retirement is something that is eons away.