Retirement Planning

Living at a level of comfort you’re used to when you retire requires taking steps to ensure that you have enough money. Retirement planning involves examining your goals for retirement, and then figuring how much you need to meet those objectives. You need to figure-out when to start investing and saving, how much you need to save, and what you may expect to receive from other sources such as Social Security. Retirement objectives, costs and resources are issues you need to take stock of before you quit working. Otherwise, you may find that you can’t afford to stop working.

View Retirement Planning Calculators with a Heavy Dose of Skepticism

Consumers and financial advisors are encouraged to view retirement planning calculators and software as useful but limited tools. Consider, for example: All models are based on assumptions, so poor assumptions can lead to faulty results and decisions. Any model result is probabilistic. In other words, there is no certainty with the output. Be conservative when assessing the validity and likelihood of results. Hire a fiduciary as your "pilot." The person driving the model results should have...

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health and retirement planning

Submitted by Anonymous on Mon, 04/13/2009 - 16:36

My parents are close to retiring. They are thinking about how much money they will have and what kinds of activities they will want to do once they have more free time. What should they be thinking about when it comes to planning for health expenses?

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Up to 64% of American Households at Risk of Failing to Maintain their Standard of Living in Retirement

The Center for Retirement Research at Boston College released a brief and an update of their National Retirement Risk Index (NRRI). A link to the brief summary can be found here.

The NRRI shows the percentage of American Households that are at risk of failing to maintain their standard of living in retirement. The index shows that 44% of American households are at risk. This figure increases to 61% when healthcare costs are included, and to 64% when the...

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Inflation

Insurance

Retirement Planning

Long Term Care Insurance

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Retiree Healthcare Expenses

Healthcare

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Glossary:

Inflation

Insurance

Retirement Planning

Long Term Care Insurance

Key Phrases Autotag:

Retiree Healthcare Expenses

Healthcare

Focus on Income Needs Rather than "Magic Number" When Planning for Retirement

Determining income needs is the critical factor in successful retirement planning. Reaching a desired amount of savings is useful, but translating that lump sum of savings into an income stream that lasts for many years is the most important financial planning challenge that retirees face. "“When it comes to retirement planning, Americans need to look beyond the ‘number,’” said Fishbein. “We all know what the number is: That magic dollar figure that, when reached, means you’re set in retirement...

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Immediate Annuities are a Critical Aspect of Retirement Planning

Article discusses the importance of immediate annuities--particularly in light of hedging longevity risk . Pros and cons of immediate annuities relative to other forms such as variable and indexed annuities are addressed. A solid article written by an attorney that is likely focused more on an advisor than a consumer audience. "The retirement crisis facing our country for the next 15 years is profound. The Social Security system is under great pressure, lifetime pensions guaranteed by employers...

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