Selasa, 31 Oktober 2017

What You Need to Know About Federal Reserve Bank Retirement Plan

Retirement is not something that only certain people need to worry about. Everyone will one day reach the age of retirement and therefore it is something that each and every individual must consider. In thinking about your retirement plan a Federal Reserve Bank retirement plan is something that should be thought about carefully.

Where to Begin

The age of retirement is determined by your finances and when you have enough money to take care of yourself in the way that you desire. There is no rule that says that you have to be in the workforce for 30 or 40 years. The earlier you begin to plan for your retirement the earlier you will be able to actually retire.

Your retirement is a very person thing and a lot of personal decisions are involved in planning for it. One thing that must be decided is what type of retirement lifestyle you will be comfortable and content with. Once you have this well in mind you will have a basis for determining how much money you will need for your retirement.

The higher your income the quicker you will reach your retirement goals. We all want to make as much money as we can doing whatever we do. Big salaries are not a luxury that all enjoy. Even with a modest income a good money manager can save a great deal toward his retirement.

When choosing employment you must consider the big picture. Not all jobs are glamorous or exciting. But if they pay the bills and give you what you need to save a lot each month toward your retirement then it could be worth the effort of enduring the work. You have to decide what is more important to you.

How much you have during your retirement depends on how wisely you use your money now. Some people think that the little things don't make much difference. That is simply not true. You can make small adjustments in your spending habits and really increase your retirement savings. It just takes a little effort.

Education is in important key to good retirement planning. Learn about how you can invest your money and make it work for you. There are seemingly endless investment options available to help you capitalize on the money you have saved. Talked to a financial professional to see what investment options they would recommend for you. Earning the most on the dollars you save will go a long way in your retirement planning.


Sabtu, 14 Oktober 2017

Early Retirement Planning - Take Your Health As You Age Into Consideration

Early retirement planning should focus more on health, rather than the size of your investment portfolio.

I read an uplifting story on retirement in today's Arizona Republic. I will not elaborate on the specifics...my eye was drawn to a quote from the Centers for Disease Control and Prevention.

"Eighty percent of the 65 plus population has at least one chronic medical condition: fifty percent have at least two."

I do not know about you but this makes me first glad that I retired at 49 and second why more people do not retire early while they have their health?

When deciding when to retire. Why isn't the reality of declining health as we age discussed more openly? Why is financial planning focused solely on accumulating wealth as the sole determinant as to when you can afford to retire.

I retired at 49 I am now 64 and most would consider me to be in good health, and I am. I work out 5 days a week, play golf 3 times a week and eat right.

However, in the last few years, my knee makes noise when I walk, my lower back hurts more and more, I tire more easily, etc. When I talk with friends my age, and they talk about their aches and pains, I realize I am very lucky...I am not a part of the 80% mentioned above with a chronic illness.

My friends have mostly retired in their 60's..."normal retirement age." Heart problems, diabetes, arthritis, insomnia and stomach problems are just some of the chronic conditions of friends I know and love.

So the next time you sit down and contemplate when you are retiring...stop and think. Would you rather have less cash, spend less and retire: or wait until 65, be rich and be in the 80% of folks in that age group?