Advice For Women On How to Save – Retirement Planning For Women

I had an opportunity interview one of my good friends on Retirement Planning For Women. My friend, Beth Siegel, works for a large investment company and has been an investment representative for approximately 20 years +. She gave me an opportunity to interview her and I found that she made an outstanding speaker on advice for women on how to save for their retirement.

Here are the tips and a brief outline from what Siegel had to say about retirement investing for women:

First women must understand that Investing is emotional. It is tied to our mindset and sometimes we don’t plan far enough ahead for very personal reasons that can often be self-defeating. If you are one of those people then seek out advice from other women who have made the retirement decision to plan ahead.

Tie your savings and retirement goals to your personal goals. Examine what you believe your health may (or may not) be and whether or not the swimming or golfing or running a marathon goals are realistic and achievable in your retirement.

The 50-60 age group is deciding if they want to change careers, change their life goals, or stay in what they are doing right now. They are at that midway place in their lives where they are planning for their long-term goals.

Women need 20% more than men to retire because they are living approx. seven years longer than men.

Women tend to invest more conservatively than men because they fear losing their money.

– Instead of fearing losing their money, women REALLY NEED TO focus on whether they will run out of money. Siegel said that this should be their biggest fear instead.
– If you are too conservative with your investing then your savings won’t keep up with inflation.
– You’ll need 7.5-9% per year to retire.
– A diversified portfolio is the best and sticking with that is important!
– Currently, you can look to Social Security to provide about 12% of your retirement income. That’s about a tip for dinner.
– Can you afford to count on living on tip income?
– Be involved in setting aside money.

Regular IRA – Tax-free, but limitations in contributions are only $6,000.00 per year. If you have a company that pays retirement match, put the max amount in because that is free money to you.

For the self-employed there is opportunity to invest up to $40,000.00 per year from your gross income.
– This is possible because your company puts the money in for you (individual 401K).
– SEP – individual plan is calculated on net income and the savings is less than a 401K.

For employers with employees who work less than 20 hours per week, there are regular 401K options – ask a payroll company or advisor for more information on these plans.
– Safe Harbor Plans avoid age and wage restrictions and you can save the maximum amount of money.

If you have a windfall of money there is no real way to avoid paying taxes on it, so be smart with your goals and what your plans are for that money so that it lasts for you. Seek advice if you really don’t have a clue.
– Be smart about what you get because most people go through a windfall in two years.
– Control your destiny with your good choices.

Siegel told me that she thought that the next bubble would be in commodities, and that real estate investments (in the last 200 years) averaged 5%.
– Don’t try to time the market — Wait it out.
– Most people with a portfolio look better than the market, so don’t watch the market to predict your portfolio.

Siegel informed me that hedge funds will sell their portfolios back to the banks to pay their debt and there were huge corrections that happened in the marketplace as a result. Siegel says that is what was driving the market.

Siegel explained that are three cash strategies:
1. Long-term: If you have long-term goals, have your money working long-term.
2 & 3. Short-Term and Cash Flow: Plan your strategy and work your goals and plans around your lifestyle and what you need and want to happen. Plan for that money.

Siegel highly recommended, “Business Week Magazine,” and the book, “Wall Street Journal Complete Money & Investing guidebook,” by Dave Kansas – Used & new $4.55-$10.00.

And when it comes to retirement planning by watching the news, she had this to say,… “Watch the 6:30 news program on public TV for information, and don’t watch the media hype for money information.” She continued saying, “TV media hype is slanted, biased and mostly (just plain) ignorant.”

So, when you plan for your retirement take these tips into consideration. That way the twenty years you hadn’t planned on getting won’t have you looking for a job at your local fast food restaurant.

Some Useful Information About Retirement Planning

Future is a thing that is always sighted by all people. So, when it comes to making it safer (at least financially) nobody would like to take any chances. That is the reason why retirement planning has become quite important part of everyone’s life. In a simple word, retirement plan reduces your employment income and makes it your retirement revenue.

Retirement planning begs step by step conscious investment as well as tax planning. It has to be done so smartly that you achieve you desired financial goals at the time of your retirement as well as through the span of your life till the end. You also have to be sure not to over invest that might makes you always from enjoying the life or restricts you from spending your desired money now. Nowadays there are many financial planners available in the market. Having specialized skills to do tax planning and forecasting, they are the ones who can guide you about planning your retirement.

Experienced financial planner should be preferred. Software is available on the web which asks for 2 things. Your current information and future goal and tell you the way to plan your retirement and calculate your yearly investment plan from now. But still experience does matter for advising. A very important thing to consider here is the current and future inflation rate. Inflation is the thing which might prove your whole planning wrong. Thus inflation is so called a very important factor which is to be considered while planning for retirement. Second thing is Tax planning. There are many schemes available by the US govt. for the tax saving plans. You can go for any of the following plans like:

Defined contribution plan
Defined benefit plans
Requirement of Permanence
Hybrid and Cash Balance Plans
SIMPLE IRAs
Qualified retirement plans
SEP IRAs etc.

Recession has shacked the world and specifically USA has revived the interest in these topics. Surveys were done and they revealed that most people have increased percentage of savings for retirement. And many have committed to keep planning even in the good times so that they can absorb such shocks. In many places employer itself are planning for their employee’s retirement. They cut some amount from their salary as a mandatory measure which can be reimbursed at particular period.

Try to know about such plans of the employer and do calculate its future inflows (money that will be gained in future). Generally government jobs keep such kind of mandate. Don’t try to use your savings before time. In most cases, reason to fail for the retirement planning is failure to keep you away from the savings of the retirement. Even in the tough times it is advisable to try to manage from the available funds and not to use savings.

Think it as a future safety fund. More you use it more the difficulty will be faced in the future by you and at the time when you can’t be employed by anyone and you don’t have any source of income. So it’s better to invest in future to live a happy live. Best of luck and have a happy life!

Why Do You Need Retirement Planning?

Nowadays many of the retirees have to work during their retirement period because of increasing cost of living, soaring health care cost and inflation. Now days working life is not as long as it used to be during early periods because of various problems like ill health or layoff. So the ultimate solution to get enough financial stability at the time of your retirement is retirement planning.

Retirement planning is the process to do some profitable and assured investment so as to get some assured income and financial stability at retirement. So the kind of investment you are doing in present will affect your financial and mental stability in future. So a proper retirement planning is very much essential part of your life. So the first and most important step of retirement planning is to determine your Net worth by calculating all assets and liabilities.

It can be done in many ways. Various financial planners or advisors help in devising such retirement plans but they charge some fees or commission for their services but now a day many people are following the approach of DIY (Do It Yourself) due to availability of various simple calculators or mathematical models on the internet.

These calculators and models use various parameters like current age, retirement age, house hold income, value of current assets etc to determine the amount that a person need to save on monthly basis or need to contribute to retirement fund each year so as to reach to the desired target. Following things should be considered while making a retirement plan.

(1)Time: It’s a lengthy process so give ample amount of time to think over all the options available so as to make most profitable and appropriate plan.

(2)Commitment: Towards maintaining desired outflow/expenses.

(3)Adjustment: Always consider inflation while making such plans.

(4)Detailing: Keep in to account all the expenses incurred by yourself as well as your company.

If you are a Canadian citizen then now it has become very easy to plan your retirement because service Canada has so many things to offer to you. You can apply for following options

(1) Canada Pension Plan: Any Canadian citizen whose age is 18 or above it along with hi/her employer contribute to Canada pension plan in equal portion. Person is getting following kind of benefits in return.

-Pension after retirement

-Benefits for the disabled persons and their dependents

-Death benefits

(2) Old age security programs me: Any Canadian citizen whose age is above 65 and lived in Canada for 10 years or more can apply for benefits under this programmed. Person will get following benefits

-Security pension

-Guaranteed income supplement

-Allowance

But the amount of benefits will be decided on basis of his/her duration in Canada.

(3) Apply for International Benefits: On basis of Social Security agreement signed by Canada with other country if any person is living or working outside Canada then that person is eligible for social security benefits that are being offered by this program me.

So these are the various most common ways though which Canadian citizens can get benefits from Canadian Government and plan their retirement in best possible manner.

Start Your Retirement Planning Now

Every working person, after a point of time at the work place, starts thinking about a life of peace and relaxation after their retirement. They plan and dream ahead to have some family time, to travel a bit, to go fishing or even do some of the things they have always wanted to do but never had the time. The people who know the value of these dreams will know the value of retirement planning.

Planning ahead for any event, as a matter of fact is better than meeting it on the way as sudden as it comes. And for an important event such as retirement, much of planning is needed. Financial planning is the most important thing you can do for yourself when you have the means to do so. It is one of those things you owe yourself. Apart from this reason, there are many other reasons why you might need to be ready with a little extra. For example, times of medical emergencies for you or your spouse. In such events as these the main thing that is wanted is money and if you have not saved for it, life may not be easy.

There are plenty of retirement plans out there that you can follow to effect. Retirement plans are offered by government agencies, insurance companies, by your own employers etc. by retirement planning, I mean an account in which you can deposit your savings meant for use exclusively for your post retirement life. These accounts are basically known as IRAs or Individual Retirement Accounts.

IRA is an account you can set up in a bank, an insurance company or any secure financial institution. The aim is to deposit a portion of your income in this account in a regular basis. The money in the account is of course not going to lie there waiting for you to retire. This money is going to be invested on various things such as real estate, stock certificates etc.

You can invest in a number of areas, this choice of course lies in your hands. Investment options are many and whether risky or not, it is ensured that you will get sufficient funds for your retired life. It is advised to invest your money in a safe area so that you don’t lost most of your money, but a small profit is assured. When you take up big risky investments, there is always the threat of losing all you have put forth, but if it clicks a huge profit will be the result. The choice of investments, as mentioned above, is in your hands.

When you are looking for a reasonable IRA that you can set up, you should always research it properly. Only if you feel that this is the choice that is most comfortable and effective for you, should you go ahead with the plan. Any retirement plan also requires you to meet a set of conditions for you to access them. So, choose right and make a happy retirement for yourself.

Retirement Plans – Golden Opportunities Are Awaiting For You

I think everyone of you will be very much worried about your retirement years. Till that time you will lead a productive and busy life. You will be economically strong and independent. But after your retirement how to live will be a great confusion before you. There will be o longer any fixed stray of monthly income for you. Your morning hours will be no longer in hurry. Do you start thinking about it?

If you want a good peaceful retired life you have to be better organized and prepared about the retirement plans. It can be a golden opportunity for you to be still economically stronger and you need a calm and peace life in your old age. A well prepared plan is the first necessity in your retirement. I think most of you will agree to me in it.

But how many people will be bothered to prepare one with proper research and much thinking? I am sure that most of you will be feeling lazy to prepare a retirement plan. If you are young enough then you will also find the concept of retirement an impossible thing in your life. But accept and welcome the fact that you should face your retirement from the job once in your life. Am I correct? Here there are some guidelines for your plans. Start preparing it.

First of all your plan should be clear and detailed. It should be also a little bit early enough to be well prepared. For that calculate your retirement benefits and begin your search for investing it in a fruitful option. Before this during your working years you have to do some savings and preparation. This planning is very important to have enough money to be invested.

For this you have to be considering four main points. They are spend money carefully and minimally to save more for your future, ensure better returns to your investments, try for more working years and the last but not the least always expect and plan accordingly if you die earlier. Last point will be a shock and inconvenient truth for you. But consider it well and invest in the life insurance plans.

Then also think that what you want to do in your retire life. If you have some dream like traveling the whole world or want to engage in some other hobby. It will cost a lot. So save for that also during your working years. Your budget preparation for retirement should be according to that. Keep in mind that you are aiming for a financial independence and a standard life in your retirement. You can make it possible through this plan according to your wish and retired years can be your golden years.

If you are in a good job now and aiming for a good smooth retirement life then start now to lay a base for your savings then reduce the fear about those days. Turn the bad dependent old age life to be much safer independent times. Then no need to put your hand your children to have a cup of tea for you. Have it your own by your saving. Lets begin for it now itself.

But be very conscious that you are getting the real returns for your investments by the hard earned money. Then don’t be too much anxious about the retired life and spoil the present youthful years. Enjoy the life with an eye to future.

Choosing The Best Retirement Living Community For Your Needs

Life doesn’t stop when you’re 55 years or older, nor should it end when you face retirement. These tips help you find the best retirement living community for your needs.

The best retirement living community for you is the one that meets your needs the best. While there are many to choose from, they are not all best for you or your needs. This is why it is so important that you investigate fully so you know what all of your choices are and how to get the best for your needs. This could be one of the most important decisions you ever make about your future so it’s never too early to start planning for it either. Because there are so many facilities and living communities today for retirement, it can make it harder to find the right one for your needs. There are 55 years and older retirement communities and senior living facilities as well as disability retirement community living and more. 55 Retirement communities are well known in the industry and might be worth looking at. There are places that cater to couples and to people who have special needs or certain medical conditions. With so many options, it can seem overwhelming. It doesn’t have to be difficult, however, if you just learn where to begin.

Life doesn’t stop when you’re 55 years or older, nor should it end when you face retirement. Instead, you are starting a new chapter in your life and you just need to discover how to do so the best way possible for you and your needs. It’s never too early or too late to start planning for your future. It is especially important to start planning ahead if you expect to have an early retirement. Choosing the right retirement living community is paramount to you enjoying you retirement years. The thought of early retirement appeals to more and more people and we see many more people taking this route and hitting retirement long before 55. However, some of them do not plan properly for this retirement and longer, healthier life spans and they run into financial troubles later. You need to plan for this so it doesn’t happen to you.

There are many retirement living communities that can help with your financial planning in a variety of ways. Some of them offer fixed rates on the things you need to get by such as rent or apartment/ house payment, food and meals, healthcare, lawn care and maintenance, repairs and even recreation and free time. If financial concerns are important to you when looking into retirement living, look for facilities that will help with this. You also need to determine if you are going to want a more active retirement instead of sedentary living. If so, you want to choose communities that cater to this more active lifestyle and have more activities to help you stay busy and enjoy the active life you want.

If you have a medical or health condition that requires you to need daily or even weekly assistance then an assisted living community may meet your needs the best. Here you will have more freedom than a full time nursing facility but you will also get the care and help you need from a professional trained to help with your needs. When you take the time to shop around, ask questions and plan aheadArticle Submission, it becomes easier to get the retirement living community that will suit your needs the best. This is essential to getting the most from your retirement years.

Trial an annuity calculator and bag the most lucrative income in retirement

A pleasant retirement is something we all want to arrange as soon as we terminate our working life. One pivotal facet which impacts your retirement is the level of income you can draw from an annuity.
Of course this is something most of us will not consider until we get to retirement due to us getting on with our working lives. A selection of the reasons why an annuity is not considered earlier on in life include… lack of disposable income, lack of awareness and lethargy.

To many in the retirement industry this can seem quite shocking as acquiring the highest annuity can result in income increases as high as 40% or more. As you can observe, this is a significant amount of extra cash.

The immediate question which puzzles many who need an annuity is…. There are several places you can go to find the best deal on an annuity including… the internet, your local library or an IFA. Each of these has there pros and cons, so be in no doubt you choose the most suited option for your situation.

You could think this is a great deal of activity for you to undertake, but getting the right advice is crucial when looking for investment-linked annuities. If you don’t compare UK annuity firms you might miss out on a much higher retirement income. Thousands of people who buy annuities without making a comparison subsequently think to themselves ‘ wish I had chosen to compare annuity companies.

A section of these annuity customers will have also been permitted to apply for an enhanced pension annuity, which could have the result of them now missing out on a higher retirement income. It should be recorded however that the 35% rate increase is only offered to those with serious medical conditions. These can include a range of problems including…. stoke, organ replacement and Multiple Sclerosis.

You might be saying to yourself…. ‘I have yet to endure a medical condition like this’. Even if you haven’t been this ill you could might still be eligible for an annuity with enhancements. It is not unusual to be given enhanced rates if you can prove you smoke cigarettes, cigars or a pipe on a regular basis. The best way to proceed would be to always inform your annuity broker of anything which could impact your life expectancy.

The explanation of why insurers offer better deals to those with illnesses is that they will pay an income for a fewer number of years. It is also worth mentioning that increased rates can be offered if the applicant has been the victim of any of the following ailments asthma, diabetes, or stoke. This list demonstrates that there are more than one way in which you could be in line for a better rate.

So if you don’t want to be one of those people who skip the chance of getting a higher annuity payoutPsychology Articles, get shopping for an annuity today – it could be the most important decision you make.

Belize Real Estate: Finding the Perfect Retirement Home in Belize

Are you looking for a retirement home you can call yours in the beautiful country of Belize? Of all the countries out there, Belize is the best place to spend your retirement days. Why? One reason is the government of Belize has a retirement program called the Qualified Retired Person Program. Next to the Marina Village sits the yacht club where they hold boat races occasionally and the famous fly fishing sport is observed.

Are you looking for a retirement home you can call yours in the beautiful country of Belize? Of all the countries out there, Belize is the best place to spend your retirement days. Why? One reason is the government of Belize has a retirement program called the Qualified Retired Person Program. This program gives retirees perks like tax exemptions and so much more. You don’t even have to be at the age of 60 to qualify, people who are at least 45 can qualify. There are other requirements but otherwise, it’s very easy to qualify and be accepted.

However, is getting the retirement home of your dreams as easy as qualifying for their QRP program? Why, of course! Take for instance this community that is located in the southern part of the country. Sanctuary Belize is one of the best Belize real estate providers in the country, offering the best in housing facilities and world-class amenities. It is the perfect place to look for a retirement home since you, the homeowner, can decide where your house will be built. With over one hundred breathtaking environments, choosing your favorite location may be quite a headache because of the huge variety of options available.

Places to choose from range from white sandy beaches where the sunrise and sunset are always heart-stopping to the quiet mountain ranges where you are surrounded by lush rainforest. Perhaps what you want is to see the sparkling blue waters of the ocean? All these are possible in the serene community of Belize. Imagine only taking a few steps to set foot on the beach and digging your toes in the warm sand while enjoying the cool breeze. Just the thought of it makes you want to live there in no time.

Convenience is very important for everyone. That’s why they have designed the community to make it hassle-free and easy to navigate. The focal centre of the community is the Marina Village where the finest restaurants and a slew of shopping stores are found. Everything can be found here so that no one has to leave the community unnecessarily. Next to the Marina Village sits the yacht club where they hold boat races occasionally and the famous fly fishing sport is observed.

The environment here is preserved and protected under law and the citizens of Belize try their best to restore and nurture nature. The very first jaguar reserve can also be found here and volunteers share their time and effort to maintain it, you too can lend a hand. Exploring the environment is one way to relieve stress, whether by walking and taking pictures or by horseback to cover greater distances and preserve your strength. Horses are available for residents in the equestrian center.

The location of your retirement home is in paradise but how would the structure of your future home fare? Only with the best contractors and best architects are they built. Your needs and wants are taken very seriously and the designs of the houses, combined with modern facilities, are quite astonishing and pleasing to the eyes. HereScience Articles, you can definitely acquire the retirement home that’s close to perfection!

Enjoy Your Golden Years! Check Out Some Exciting Retirement Activities For Men And Women

Most people want to spend years planning all the details that go into guaranteeing a comfortable exit from work. Financial planning, deciding whether or not to downsize and an entire list of other factors all play a critical role in determining that when the time arrives, you’ll be ready.
No matter where you are in life, planning for retirement is a significant goal that deserves careful consideration. It’s not unusual for individuals and couples to spend years planning all the details that go into guaranteeing a comfortable exit from work. Financial planning, deciding whether or not to downsize and an entire list of other factors all play a critical role in determining that when the time arrives, you’ll be ready.

But then what? As the time to leave the workforce approaches, and you have all your financial ducks in a row, you may feel like the planning phase of your life is officially over. However, this could not prove further from the truth. Once you actually leave your job it’s time to start planning and managing for what could be you life’s biggest endeavor: all your newfound free time.

Retirement Activities For Women And Men: Your Next Life Adventure

Fortunately, finding exciting, fun and fulfilling ways to spend your free time during this next life chapter can be easily achieved by participating in retirement activities for women and men. Not sure where to start? It’s important to ask yourself, “What will make me happy?” Chances are, you’ve spent the bulk of your working tenure doing things that were required or necessary to earn a living. Now is your chance to do exactly what you want to do!

While you’re making your personal inventory of interests there are three main focuses to determine which retirement activities for women and/or men will best complement your current interests. Do you:

Have an existing passion? If you already have an interest or hobby that you’re familiar with, but just haven’t had the time to pursue, now is your chance.

Have something new you’d love to try? Even if you don’t have a current hobby or pastime, chances are there’s always been something you’ve wanted to try, but for various reasons, haven’t…yet.

Simply want to meet new people: Now that you’re not surrounded by your professional colleagues on a daily basis, you may find that you’re looking forward to socializing with some new people. 55+ adult functions are a perfect way to broaden your social horizon.

Which Retirement Activities For Men/Women Make Sense For You

Really, the sky is the limit when it comes to finding retirement activities for men and women that will excite you. There are many adults only neighborhoods that specialize in providing functions and events specifically for this demographic. If you’re considering downsizing from your home, definitely start with a reputable community as a viable living option that also delivers extensive retirement activities for men and women as well.

A reputable community will offer a diverse range of options that may include activities such as cooking classes, arts and crafts sessions and even the chance to participate in some neighborhood sporting events like billiards, golf and bocce. Some may even provide routine social events like dancesHealth Fitness Articles, dinners and other functions to help you optimize your social connection with those around you and truly help makes these the very best years of your life.

Considerations for Baby Boomers Starting a Home-Based Business

Thousands of Baby Boomers are reaching retirement age every day in the United States. Most of these Boomers must generate funds in order to financially survive. Many are planning to start a home-based business. An important aspect of this decision should be an exit strategy that allows transition to full retirement at some point.

About ten thousand Baby Boomers are reaching retirement age every day in the United States. At least two-thirds of these Boomers must generate funds in order to financially survive. Many more simply wish to continue working, even if it is part-time. Many are planning to start a home-based business and are asking themselves, “”What type of home-based business should I pursue?” An important aspect of this decision should be an exit strategy that allows transition to full retirement at some point.

The obvious way to launch a home-based business is to leverage one’s work experience, contacts and expertise to create an enterprise that can be run from a home office. In most cases, this is the fastest path to success. If you enjoy what you did career-wise, this approach is an easy extension of your prior job. Planning ahead, one can even establish consulting contracts with an employer or his clients. The result can be a smooth transition with minimal cash flow impact.

Many Boomers, however, wish to launch a second career in a new arena, such as opening a bed and breakfast or becoming a teacher. This takes more investigation and planning, ideally accomplished well in advance of retirement. There are ample resources on the Internet (much of it free!) to assist with this process.

For older Boomers who have found themselves suddenly unemployed, time is usually of the essence. Typically, they are seeking a source of income with little start-up time. Unfortunately, finding another job is difficult for 50-plus Boomers.

Many laid-off Boomers compensate by putting up a quick website and trying to leverage their experience into a consultancy business, but soon realize that this road too has a start-up period while clients are procured. Others seek “instant businesses” in the form of established multi-level marketing operations or franchises, only to discover that these too are not “slam dunks.”

There is rarely an easy road to riches. Moreover, launching a home-based business is a process that is usually accompanied by anxiety and mounting credit card debt.

For those who make a successful transition to operating a home-based business, there is one more important consideration. At some point, they will want to really retire or at least cut back on their involvement in the business. Then, it would be nice to have something that provides ongoing residual or passive income. This goal should be part of the upfront planning in establishing a home-based business. Otherwise, it can be a costly and often devastating afterthought.

If a home-based business or franchise establishes a profitable, verifiable revenue stream from contented customers, it can usually be sold. The profits can then be invested for passive income during retirement. Again, the business plan must include this as an ultimate objective and be implemented accordingly. If the business does not generate satisfied return customers, its “good will” value is minimal and finding a buyer or achieving a good sales price will prove difficult.

There are other ways to generate passive income from home-based businesses. Membership and subscription-type businesses are good ongoing revenue generators. So are royalties from self-published ebooks. And carefully-screened MLM opportunities can yield continuing income streams as well. So achieving “retirement” may be as simple as transitioning the daily operation to a buyer or someone who is hired to manage it.

The lesson is clear. If you create or purchase a business, do so with the objective of creating intrinsic value that makes it possible to sell – or step back from – the operation at some point. An “exit strategy” is an important consideration for any home-based business, and older Baby Boomers should plan for this.

One’s ultimate success, of course, depends on whether you enjoy what you are doing. Older Boomers have been to a few rodeos in their time, and they know that it is better to spend time doing something that rocks one’s soul! When that occurs, it’s really not “work.” Launching a home-based business one truly enjoys effortlessly creates the motivation to spend the timeFree Web Content, energy and resources necessary to achieve success.