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How To Do Retirement Financial Planning By Jon A 2006-11-06 There has always been a need for retirement planning and today is certainly no different. There are 401(k)s and many other types of retirement plans that are available to you. You will need to take the time needed to evaluate what your current financial needs are and what you expect the future to hold.
Recent events, such as the rise in energy costs and the ever-skyrocketing health care costs need to be factored in. Although gas prices have been fluctuating lately, I think they are going to go back up, possibly even surpassing the extremes we saw all too recently. These types of events can take a toll on your retirement plan very quickly. Prudent planning begins early and you need a good source of information. Websites like http://jag-info-resources.com/retirement/ are an excellent resource to go to find answers to the questions you may have.
Did you know that most retirement plans have a ceiling of 10% of your pre-tax wages that you can contribute? While that may sound good when you view it against a 2% inflation rate, you must keep in mind that your planning today is not just for the ideal future, but the future that will be reality for you if things turn out to not be ideal or according to your plans today.
By starting early and contributing the maximum that you can afford, you will have a better chance of being prepared for the unforeseen. This is made much easier today because your 401k plan is now transferable from one employer to another. This allows you to continue to grow your retirement account even when you choose to change jobs or even careers.
Unsure of what you will need for retirement? There are calculators like the one at my site as shown in my author box below that will help you figure it out for yourself. This is a helpful tool that lets you see if you are on track or not. Don’t forget that life expectancy is getting longer. When Social Security was passed in the 1930s people lived about 2 years after retirement. Today you can expect to live 20-30 years past retirement and, suddenly, the amount you need to retire comfortably with a major change in lifestyle gets very large.
Lets say that today
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Center for Applied Sales Research to Provide Senior Living Companies with Contract Sales Specialist Services
The Center for Applied Sales Research, an Assisted Living Federation of America President's Council Member, has launched an innovative sales and sales management program: "Contract Sales Specialist Services." Contract Sales Specialist Services (CSSS) provides senior living companies with two levels of Sales Specialist Professionals to make a dramatically positive impact on their sales performance, particularly at communities with significant occupancy or reservation shortfalls. (PRWeb Nov 19, 2008)
Read the full story at http://www.prweb.com/releases/senior/living/prweb1630374.htm ]]>
TeeBeeDee Poll Results: Layoffs are #1 Boomer Work Worry
Online Boomer Social Network TeeBeeDee surveyed hundreds of Boomers and found the top concern at work is layoffs; value of 401k is second biggest worry. (PRWeb Nov 19, 2008)
Read the full story at http://www.prweb.com/releases/2008/11/prweb1632654.htm ]]>
Luxury Lifestyle, Preferential Prices: Phase One of Andromeda Country Club Now on Offer
Dekel Panama S.A. is now offering buyers preferential prices on all phase one lots in their spectacular beachfront vacation community in Panama, the Andromeda Country Club. Pedasí's first big development, the Andromeda Country Club is slated to begin building by early next year, promising an elegant seaside lifestyle amidst the vibrant culture and natural beauty of the Azuero Peninsula. (PRWeb Nov 19, 2008)
Read the full story at http://www.prweb.com/releases/2008/11/prweb1588554.htm ]]>
Beachfront Beauty and Pastoral Charms: Dekel Panama Presents the Andromeda Country Club
The Andromeda Country Club is now accepting offers on its spectacular beachfront lots in Pedasí, Panama. This gated community, set to begin construction early next year, is located on the country's most desirable stretch of coastline. As prime beachfront land in Panama grows ever scarcer, investors and developers are looking to Panama's central Pacific for the next wave of development, and finding in the Azuero Peninsula the very heart of Panama. In the last couple of years, Pedasí and surrounds have been 'discovered'. Quietly at first, and now at an astonishing pace, beachfront land is changing hands, and vacation communities are about to spring into being. (PRWeb Nov 19, 2008)
Read the full story at http://www.prweb.com/releases/2008/11/prweb1589204.htm ]]>
Discovery Flight Could be This Year's Must-Have Gift
Rumor has it that Pilot Journey's Discovery Flight is How Santa Got His Start (PRWeb Nov 18, 2008)
Read the full story at http://www.prweb.com/releases/Pilot_Journey/Discovery_Flight/prweb1630794.htm ]]>
you need $40,000 to live on and you retire in 20 years, you will need a minimum of $850,000 to carry you through retirement. That is assuming that you will live an additional 20 years after you retire and are in good health. There is something to be said for debt reduction as being part of your retirement planning, as well, since the last thing you want to do is go into retirement with a ton of debt still hanging over your head. Having $40,000 a year to live on with little to no debt will obviously go farther than if you still have the same debt load as you do now. If you reduce your debt load by the same amount that you save for retirement, you double your retirement savings. One cannot have a conversation about retirement without the subject of taxes coming into it. The money you put into your 401(k) is pre-tax so you will pay taxes on it when you get disbursements. The 401(k) is intended for retirement, so there are also very heavy tax penalties if you withdraw any funds before you turn 59.5 years of age. If at all possible, do not make any early withdrawals from your retirement account, since most people have found that in addition to the heavy tax penalties for doing so, the prospect of paying it back, even with good intentions, is tougher than it seems. Article Source: http://www.upublish.info Tags: Articles Finance **ARTTECHNORATI** Free Articles on Finance and many other topics - Add this category to your RSS Reader
Another free Finance article for you
About the Author:
Jon A
Jon is a computer engineer and long-term world traveler who maintains many websites to pass along his knowledge and findings. You can read more about Retirement and 401k Planning at his web site at jag-info-resources.com/retirement/ Free Articles on Finance and many other topics
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Local stocks slammed as markets tank 5 percent again
Greater Cincinnati stocks got slammed for the second day in a row Thursday as investors pummeled the market to its second straight day of 5-plus percent losses. (PG) (ASH) (AKS) (BGC) (OCR) (AFG) (CBB) (CVG) (KR) (M) Steve & Barry’s to liquidate
Steve & Barry’s stores will liquidate by early 2009 after its new owners said they would not be able to find financing, Reuters is reporting. Honda cutting back production
Honda Motor Co. is reducing North American vehicle production by another 18,000 units in response to dwindling sales. P&G continues to shrink energy footprint
Procter & Gamble Co. reduced its water and energy consumption by 6 percent to 8 percent in its last fiscal year, increasing its reductions since 2002 to roughly 50 percent. Nordstrom sets opening date in Cincinnati
Nordstrom Inc. has marked Sept. 25, 2009, as the opening date for its long-awaited store at Kenwood Towne Centre, the chain’s first location in Greater Cincinnati. (JWN) Ohio wins federal grant for Wilmington layoff aid
The Ohio Department of Job and Family Services will administer a $3.9 million National Emergency Grant targeted at workers being laid off due to DHL Express’ pull-out from Wilmington. Warye named Safeco/Ohio Casualty regional manager
Liberty Mutual Group’s Safeco and Ohio Casualty units have named Matt Warye vice president, Safeco Insurance and Mid-Atlantic regional general manager. Cincinnati-area stocks kick off another down day
More gloom and doom hammered Greater Cincinnati stocks Thursday as concerns about the economy deepened. (ASH) (AKS) (BGC) (CECE) (LCAV) (ATRC) (KNDL) (OCR) (FITB) (CTAS) (PMRY) PNC expects tax break for National City deal to be less than reported
PNC Financial Services Group Inc. expects the tax benefit from its pending acquisition of National City Corp. to be no more than $725 million “and may be substantially smaller,” according to the form S-4/A the Pittsburgh-based bank filed with the SEC late Wednesday. (PNC) (NCC) Ashland cuts dividend, stock suffers
Ashland Inc., citing economic conditions, cut its quarterly dividend by almost 75 percent, a move that sent its stock plummeting early Thursday. (ASH)
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setting the level and drawing appropriate means of financing a real estate development project or acquisition.
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