Personal Financial Planning : Retirement Planning Essay

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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

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The majority of people age 65 or older in the United States are still working in full time positions. This opens the question if they planned for retirement, or what if anything went wrong while working? How do they feel about still having to work? Have they taken proper steps in preparing for retirement? Are they only working to pass time? These are the questions that everyone should be asking themselves about their own retirement plans, and what they have done to financially prepare for that stage in their life.

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Twenty or so years ago, the question of personal growth in retirement hadn't really entered the mainstream consciousness. To most people a generation ago, retirement was an ending, not a beginning. But as with everything else they've encountered, the Boomers are challenging that view of retirement.

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So, Long Term Care Is another key component of retirement planning. Currently, people are living longer thanks to better medicines. Which, in a way this is a bad thing because these individuals typically don’t have the money to afford this. That is why first, I plan on saving extra money, so that if I do happen to outlive my money, my loved ones can have a larger inheritance. However, there are other steps that I plan on taking advantage of.

Retirement in the United States of America, officially when an individual turns 66 or 67 years old, depending on their year of birth, is a time span that many look forward to in their latter years before they pass away. It is a time of relaxation and enjoyment that is usually spent with their friends and family. It seems to be that the main concern of retirement has to do with financial security once the pay checks stop. The amount of benefits in Social Security received depends on how much someone works and their annual income. Another important factor that contributes to the amount of benefits is their actuarial projection, a plan that has been set forth by someone who examines the amount of time that a person is expected to live,

Financial goals are important to Ms. Tau as she continues to try and prepare for retirement, increase savings, and pay off debt. She also hopes to begin a college fund for her eldest granddaughter, who will be graduating in five years. Ms. Tau has maintained putting $97 a month into her employee retirement plan, which currently has accumulated $115,500. Additionally, $200 a month goes into her liquid savings. She is attempting to save $18,000, which amounts to a 6-month income safety net. Ms. Tau is working toward paying off her personal loan of $34,650 and

You have to consider life expectancy and retirement goals as well as having the financial resources for you to meet basic needs and at the same time enjoy your retirement.

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Saving for retirement is a priority for aging citizens, but what financial plans should be made after retirement? This is the question that drives clients to financial planners. Seniors are seeking to invest their money, generate positive cash flow, and build a solid financial foundation for the future. Financial planning for seniors often centers around the funding of retirement, insurance needs, estate concerns, taxes, and investments.

With the average life span increasing, many people are certain to live 30 years or more after retirement. This factor calls for serious concern with retirement. With this in mind, we should therefore be worried, amid the growing uncertainty about financial security when retired. Another concern should be whether goals provide security for spouse and family. This means planning for retirement is more important than ever.