Retirement Planning Community by Torrid Technologies
Retirement software help & Everything about Retirement Planning and more
Lou Cardozo of AOL.Finance has some WISE suggestions for recent graduates entering the workforce.
Your likely strapped with college loan and the cost of setting up your new independent life. Saving for retirement is the last thing on your mind…DON’T make that mistake!
Want to score big? Hit the Match Point early in your career?
Time flies – that’s a fact! Whether your are near or far from retirement, it will be here (it seems) before you can count to 10.
If you are a 20 or 30 something, take it from us older folks, the tips in this article are SMART!
Start with one or two of these ideas and your future self will thank you!
Sarah Fisher has an article posted on Aol. Finance detailing 5 things you you might have forgotten or just plain didn’t know about retiring. Baby Boomers are retiring and people are living longer, so the landscape of what retirement looks like and what is needed to sustain it is changing.
Check out this article to see if you’re prepared.
Many people are concerned about retirement finances, but that’s not the ONLY thing to worry about…
Brian Stoffel of The Motley Fool posted a fascinating article recently about what exactly the #1 silent killer in retirement really is. I was stunned! He said that the greatest silent killer is — Loneliness!
He states:
Before rolling your eyes, hear me out. In 2013, Merrill Lynch and Age Wave (MLAW) conducted a study asking pre-retirees what they would “miss most about work when they retire.” Here’s what they had to say:
So, by an enormous margin, “a reliable income” was the most popular answer.
Then MLAW followed up by asking a group of currently retired folks what they missed the most about work. While ‘”reliable income” was still relevant, the responses were starkly different:
There was much more interesting information contained in his article PLUS what it means to your finances and how to avoid it. Read more about it here.
Our Founder – Tim Turner – was interviewed recently by Neil Howe on Business Innovators Radio.
Listen to some of the tips he shares, Roth and Annuity discussions and some lessons learned regarding building a solid financial future.
Age is no excuse – too young or too old.
It only lasts 30 minutes. You can come and go at your leisure!
For more information about Tim Turner and Torrid Technologies, you can contact www.torrid-tech.com or call 888-333-5095
USA today posted this article recently by Maurie Backmon addressing the pros and cons of retiring before the age of 65. In fact 62 has become a quite popular age at which to check out of the working world since that’s the earliest you can start drawing on your social security benefits.
Is it wise to retire that early?
There are 2 major negative effects to consider before retiring at that time. See what they are here.
according to Tom Sightings’ article in Daily Finance.
He lists 5 ideas of things to think about as you try to plan for your future…an idea of where you’re going if you just feel overwhelmed and lost by the whole thing!
5 Items to include:
1. Manage Your .. (read more)
Use your RetirementView to try adding these 5 elements to your plan and see if you can keep the green! If you don’t have RetirementView yet, try this FREE demo. There’s no time limit, you just can’t change your rates of return.
Happy Planning!
Seems like all you hear is bad news…especially in regard to finances.
No one ever feels like it’s enough, but forward steps are a good sign. (Of course with RetirementView Software, you can KNOW if you have enough. You know we have to say it!)
Check out today’s good news in this article by Suzanne Wooley.
Rachel L. Sheedy of DailyFinance.com recently posted an article sharing some things about which you may be surprised as you approach and navigate retirement.
She suggests “As you advance toward retirement, it’s a good idea to sharpen the focus of your retirement vision. You need to figure out how you’ll spend your time, what your retirement budget will look like and where your money will come from in retirement.”
These 8 things may be the biggest surprises you’ll face.
From DailyFinance.com
It’s an achievement to make it to retirement. Years of hard work pay off once you have saved enough and get to hand over a resignation letter to your boss. You say farewell, and there may be a few tears as you part ways with your former life. But there’s also the excitement of finally starting the new leisurely chapter of your journey.
The next day there’s no reason to get up before 10 a.m. You feel so grateful you no longer need to wake up early just to get ready for boring morning meetings. You get up and go downstairs, brew a morning cup of coffee and sit down at the table and ask, “Now what?”
The start of retirement is a time of exploration for some people. There is a new life routine to figure out. Here are a few questions to ponder as you enter retirement.
Do you plan to reduce stock exposure? It’s commonly accepted that you should gradually decrease the risk in your portfolio as you age and accumulate more assets to protect. Many people do this by adding bonds to their portfolio in order to reduce volatility during retirement. Unfortunately, there isn’t a simple asset allocation that fits everyone’s circumstances. Adding more bonds might help you sleep well at night because they reduce volatility, but you also risk outliving your money if you live a long life. You could add more stocks if you have a long time horizon, but a bad sequence of return at the beginning of retirement could cause your portfolio to be depleted prematurely. There’s no way to determine the optimum split between stocks and bonds unless you can predict the future, so the key is to be flexible with your spending and never follow any rigid rules. You also want to avoid staying away from stocks completely, because one of the biggest enemies for retirees is inflation. Price increases don’t seem like a huge problem now, but there will be a time when the eroding effects of inflation are noticeable again. Almost every retiree will need some stock exposure to fight off the wealth destroying power of inflation.
What is your strategy to withdraw money to meet daily expenses? You spent years accumulating the assets to retire and employing investment strategies to grow your nest egg. Most people spend too much time thinking about how to tweak their portfolio for maximum gains and too little time optimizing how they will withdraw their assets in a tax efficient manner. You need to give just as much throught to the withdrawal phase. Decide how much you need to spend regularly and where the funds will come from. Without a paycheck and with your assets spread between pre-tax, post-tax and taxable accounts, you want to know exactly how to take money out without paying more in taxes than is absolutely necessary.
What do you plan to do with your assets? The flip side of not outliving your money is the opportunity to leave money to your heirs once you pass away. You could leave it to your children or grandchildren, donate the sum to charity or something else. Put together a plan to make sure your cash gets used in a way you approve of. You may also want to start gifting while you are still alive so you get to see the fruits of your contributions.
What do you plan to do every day? Finances are an essential part of retirement, but this question may be the most important one to answer. It’s easy to start relaxing and slow down once you retire because no one is pushing you to stay active. However, those who don’t keep busy could see their health erode, and no one wants to age prematurely. By staying active, you will have the energy to pursue physically demanding activities, but leisurely ones will be more enjoyable with fewer aches and pains as well. Staying active can make even being a couch potato more enjoyable.
As you linger over that first coffee of retirement, hopefully you are off to your next activity with a perfectly clear idea of where the money to fund daily life is going to come from. You’ve already spent years contemplating retirement’s toughest questions. It’s now time to enjoy it.
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