Retirement Plan For Retirement Plans

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Can you envision sitting in a rocking chair and having an” idle” lifestyle or time. When one reaches the age of 55, it is time to consider retirement planning. Determining a future lifestyle change means making plans or preparation for this life adjustment. A little time used for retirement planning can make a huge difference later and should not be put off. Retirement is a strategy for the life in the future and the dream for many. Retirement begins with reviewing the financial assets and understand what withdrawing from work means and the impact to family and friends. The State of North Carolina’s State employee’s retirement plan has lost it punch and many people will not be able to endure if retirement is selected.…show more content…
A person should determine what percent of money will be needed to maintain their income currently receiving. The State of North Carolina has not given their employees a decent salary increase in years while the cost of living continues to increase. The legislative decisions will also impact the funding of the State pension plan. Work pensions are less common today because the younger generation do not value retirement and saving. State legislative should fight more to support the employee’s retirement funds and investments. Going from working to non-working status will be tough for many retirees. As a long time state employee transitioning into retirement is a big challenge. If the NC State retirement system could provide additional seminars and effective counseling, it would help with this transition. Due to the lifestyles or pride of many retirees, some things will not be included in their everyday living preference, adjusting to a fixed income and downsizing their homes. No matter what the strategy for transitioning into retirement, there must be a strong financial income or enough funds to live during retirement comfortably. Change is hard at any age, but life style and transitioning into something new could be devastating. Insurance coverage or change will have a huge impact on retirees if their health is not good. Family and friends are an impact to

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