Retirement Planning Education
Retirement Planning Education
Plan well. Retire well. Live well: Understanding All Aspects of Retirement, The Process of Retiring Well, Understanding Your Goals, What’s Important to You, Staying Active in Retirement and New Opportunities.
Can You Afford To Retire
"Can You Afford To Retire?"
Retirement is achieved through a solid foundation of financial education. To educate the importance of knowing retirement concepts, understanding your retirement options, and helping pre-retirees establish a plan and retirees maintain healthy financial habits.
Understanding Your Retirement Options
What Is Retirement Planning Education?
Retirement planning is the process of determining retirement income goals and the actions and decisions necessary to achieve those goals. Retirement planning includes identifying sources of income, estimating expenses, implementing a savings program, and managing assets and risk.
What's Your Plan For Retirement
The transition into retirement is when you are changing from your full-time working years to your retirement years. If retirement is approaching, you may have to make numerous decisions.
Can you afford to retire?
What about early retirement--is it a possibility? If you want to continue working, are there other considerations? Your first step is to review your sources of retirement income and estimate your retirement needs.
Retirement Planning
You may have a very idealistic vision of retirement — doing all of the things that you never seem to have time to do now.
But how do you pursue that vision?
Social Security may be around when you retire, but the benefit that you get from Uncle Sam may not provide enough income for your retirement years. To make matters worse, few employers today offer a traditional company pension plan that guarantees you a specific income at retirement.
Social Security in Retirement
Security benefits are a major source of retirement income for most people.
Your Social Security retirement benefit is based on the
number of years you've been working
and the amount you've earned. When you begin taking Social Security
benefits also greatly affects the size of your benefit.
Health Insurance Planning in Retirement
At any age, health care is a priority. When you retire, however, you will probably focus more on health care than ever before.
Staying healthy is your goal,
and this can mean more visits to the doctor for preventive tests and routine checkups. There's also a chance that your health will decline as you grow older, increasing your need for costly prescription drugs or medical treatments. That's why having health insurance is extremely important.
Defined-Benefit Plans A Source of Retirement Income
You may be counting on funds from a defined benefit plan to help you
achieve a comfortable retirement.
Often referred to as traditional pension plans, defined benefit plans promise to pay you a specified amount at retirement. To help you understand the role a defined benefit plan might play in your retirement savings strategy, here's a look at some basic plan attributes.
What Are The Factors Affecting Your Retirement Income
When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you'll have available to spend.
If you don't consider how your
retirement income can be impacted by
investment risk, inflation risk, catastrophic illness or long-term care, and taxes, you may not be able to enjoy the retirement you envision.
“There is a whole new kind of life ahead, full of experiences just waiting to happen. Some call it ‘retirement.’ I call it ‘bliss.’”
– Betty Sullivan
Retirement Planning Glossary