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.

If I am working at the age of 25 I want to retire at the age of 65 while I’m making $40,000 a year. And want to maintain same life style when I retired till the age of 92. Since the age I’m working & retiring its 40 years & in 40 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

- 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.

Planning, just like saving for the future does not always come natural to a person and a lot of times has to be recommended by professionals. It takes personal discipline along with dedication to follow a good retirement plan. In order to achieve personal goals for retirement there has to be a plan of action to obtain success. Proper planning for retirement will also provide a positive outlook for that stage of life.

The United States’ Social Security system was implemented by Franklin D. Roosevelt on August 14, 1935 as a part of the New Deal during the Great Depression “to frame a law which gives some measure of protection to the average citizen and his family against the loss of a job and against poverty-ridden old age." Although the system has proven to be one of the most popular programs ever established, its future has been questionable for some time. According to the Social Security Administration (2008), “People are living longer, the first baby boomers are nearing retirement, and the birth rate is lower than in the past. The result is that the worker-to-beneficiary ratio has fallen from 16.5-to-1 in 1950 to 3.3-to-1 today. Within 40 years it will be 2-to-1. At this ratio there will not be enough workers to pay scheduled benefits at current tax rates” (Social Security Administration [SSA], 2008). This issue concerns many citizens, especially younger generations, and continues to be a hot topic of debate amongst politicians. Many ideas have been proposed about how to reform the current system. The most popular of these ideas is to create an entirely new system consisting of mandatory pension accounts which would allow individuals to accumulate a balance over time with investment options such as stocks, bonds, or mutual funds. This argument will show why Social Security should not be replaced by a mandatory private pension system.

A general fear of having flexibility in a seniors retirement years is a concern when

people would get their jobs back and families would be happy. The New deal helped

At what age would you like to retire?  Describe your goals, aspirations, and desired lifestyle for your retirement years. How many years do you anticipate being retired?  Does your current financial plan support your retirement goals (lifestyle and time frame)?  If not, what changes (if any) do you need to make in your current lifestyle to support your retirement goals?

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.

Many feel retirement is a time to relax and enjoy life. When a person decides to retire, they do not consider the many challenges ahead. For Barney he had it all planned but his plans quickly changes for what he would believe was the worst. He quickly finds out his mountain house property someone is living there, his car is stolen, and he is losing his beach house due to a new water park development.

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.