Archive for 'Retirement' Category

Terry Savage’s - The Savage Number

First Woman Trader On The Floor of The Chicago Board Options Exchange, Terry Savage, lays out “The Savage Number”. She discusses retirement planning for the baby boom generation.
“It pays to plan while you can.”
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Early Retirement On One Million Bucks

Interesting article over at PF Blog on retiring early. There has been a few good posts on this subject over there, and here is the short outline on his personal retirement scenario.
“…………….

We probably need $110k (adjusted annually for inflation) to maintain the household if I bid farewell to the corporate life.
The earning power of our […]

Retirement - Trustee Directed 401K Retirement Plans

A trustee directed 401K plan is one in which a trustee is appointed to oversee all of the fund. These trustee directed plans are not popular and are becoming rare at this point.
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Retirement - Participant Directed 401K Retirement Plans

Participant directed 401K retirement plans are plans in which the employee can direct a portion of their invested money goes, whether it be in bonds, money market funds, mutual funds, or stocks. The participant directed retirement funds are preferred because of the ability to control your financial future. See also Trustee Directed 401K plans.
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Retirement - Problems You Can Have With Your 401K

A 401K Retirement plan can have problems that you should be aware of. It used to be that a 401K retirement plan offered through an employer did not allow any kind of control for the employee. Employees were held at bay while their money was squandered or invested back in the same company they work […]

Retirement - The Big Retirement Mistake

The biggest mistake Americans make in this topsy-turvy world is cashing in their IRA or retirement savings bonds when they move from one employer to another. This sounds like it’s hard to believe (I know) but many people cash in their retirement funds when they are laid off by their employers. They’ll actually cash it […]

Retirement - When To Start Planning For Retirement

When you should plan for retirement is a great question, and it has any easy answer - NOW. Regardless of your present age, you should get going and start putting together a plan for retirement. There are statistics that suggest you should be planning for retirement by the age of 55 for men and women […]

Retirement - Great Web Site For Retirement Planning

We at the World Of Financing would like to recommend a web site for planning your retirement with. The site is http://www.choosetosave.org/ and they have a fantastic resource for finding the information you need to plan your retirement wisely. Here is a small quote from their site, and it briefly explains what they provide. Financial […]

Retirement - Some Retirement Data For Americans

There is now some enlightening data and statistics on American retirement planning (or lack of planning) Interesting Retirement Statistic #1 - Most Americans spend 19 years in retirement. I believe that number is growing rapidly with modern medicine and consumer education. Interesting Retirement Statistic #2 - Sadly only 70% of the employed in the United […]

Retirement - Stick To Your Retirement Plan

Never touch your retirement savings money no matter what. Try to think of your retirement funds and accounts as lost money. Pretend that all the money you have invested is simply not there. Try to lock your money up in your IRA, or mutual fund, so that you cannot easily access those funds. At the […]

Retirement - How Much Do Need Per Month To Retire?

It’s important to be honest with yourself in understanding how much money you will need to live comfortably in your later years. Do you need a trip or vacation every year, or every month? Do you need to play golf every day, once a week? Do you have health concerns and ailments that require large […]

Retirement - Retirement Planning Tip - Look At Your Employers Retirement Plan

This sounds like obvious comment, but it’s really not that simple. You are likely like most Americans in that you may not be able to understand all the small print of your employer’s retirement plan. There is a way around this kind of confusion, and it also avoids having to pay a financial consultant to […]

Retirement - Retirement Planning Tip - Set Up An IRA

Setting up an IRA is a super idea. You can save money on taxes with an IRA whether you are using a standard IRA or a Roth IRA. These are very easy to manage, and very easy to contribute to. You would be wise to read up on how to start withdrawals from your IRA […]

Retirement - More On Residual Income

To touch a little more on residual income, I want to stress the power of this type of income stream. I’m not taking about Amway (although that has worked in the past) but I’m talking about any product or service you can provide people now that will create income later. Some of the Internet methods […]

Retirement - Setting Savings Goals For Retirement

It’s the old cliche of paying yourself first again. We all know the plan right? Start saving a little bit every month early in your life and you should have enough for late life. Whether you save it to a money market bond fund, a 401k, or just a simple savings account, it all helps. […]

Retirement - Self Employment In Retirement

I want to state again the importance of using a self-employment model for your retirement work. If you can run a small business that is related to one of your passions or hobbies, you may be able write off a lot of your costs when doing your hobbies. For example, if you were passionate about […]

Retirement - Watch Out For The Taxman In Your Anti-Retirement

In the past post I spoke of retirement (or should I say anti-retirement), but there is a concern regarding your taxes. Depending on how much you earn in retirement plan funds, checks, dividends, annuities, etc. - making money from your anti-retirement work could mess up your tax situation. This is why I always recommend so […]

Retirement - Your Later Years Should Be Launching Years

I believe that your later years in life should be launching years and not retirement years. The same way you launched your career as a young man, should be the ay you LAUNCH into retirement. Think of the values you hold dear, and the work you most like to do, and then DO IT. Don’t […]

Retirement - Retire Like Colonel Sanders

I’m a huge fan of the Biography Channel, and I watch it for at least 30 minutes each evening. My favorite biography category is entrepreneurship, and my favorite entrepreneur is Harlan Sanders of the Kentucky Fried Chicken empire. He was not an actual colonel in the army - he worked many jobs, but when he […]

Retirement - When We Stop Working We Stagnate

When we stop working, we stagnate, and that is what we need to avoid. People often dream of what they will do when they retire, and they crunch pennies, buy mutual funds, invest in money markets, or buy real estate, all in the name of early retirement. They talk with the friends, family, peers, and […]

Retirement - No Such Thing As Retirement

One of the most important things when planning your retirement is vision. By vision I mean deciding on your personality type, and how you are likely to launch into your retirement. I’ll get into the money end of retirement during this series, but first I want to focus on your vision of the future. I’ve […]

Retirement - Retirement Planning

Planning for retirement is something that is so critical, but the majority of Americans do not adequately prepare for retirement. The sad irony is that preparing for retirement is not difficult in the slightest - it only requires a small amount of discipline to be successful preparing for later years. In the next series of […]