Retirement

Want to enjoy a longer, happier life? Just keep on working | Science | The Guardian

Financial Planning, Lifestyle, Retirement

Sarah Harper has a personal take on early retirement. “My father stopped work at 54,” says Professor Harper, founder of the Institute for Population Ageing at Oxford University. “His employers, IBM, offered him early retirement. He was really excited at the prospect.”But the voluntary work and further education that Robert Harper had lined up for his later years dwindled and eventually disappeared and he was forced to become increasingly self-reliant in trying to find ways to pass the time.

Read the entire article: Want to enjoy a longer, happier life? Just keep on working | Science | The Guardian

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3 Key Goals for Building a Retirement Income Plan

Retirement

During your working years — the accumulation phase of your investing life — the path is pretty clear.

And that’s it. Until it isn’t.

In retirement, when you’re living off the nest egg you worked so hard to build, it becomes necessary to make a major change of course. And that takes some planning, preferably with some guidance, with these three objectives in mind:

You’ll need to line up reliable income streams. When you create your plan, you’ll want to make sure your day-to-day expenses are covered by reliable sources, including Social Security and…

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Trend: Baby Boomers Turn “Gap Year” Idea into a Retirement Lifestyle

Lifestyle, Retirement, Travel

It’s increasingly popular for young students to take a gap year between high school and college, often to travel and volunteer. (Exhibit A: Malia Obama’s pre-Harvard year off.)

But Baby Boomers are giving the gap year a whole new spin.

In greater numbers, they are roving overseas in retirement, living a slow-travel life, spending months at a time in one place and then moving on to another.

In so doing, they’re able to avoid the visa hurdles that can go along with seeking long-term residence in a country. Plus, by strategically choosing low-cost destinations, they’re able to spend less than they would to stay home.

Read the entire article: Trend: Baby Boomers Turn “Gap Year” Idea into a Retirement Lifestyle –

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4 Signs You Might Never Retire

Financial Planning, Lifestyle, Retirement, Social Security

Countless Americans look forward to retirement and the flexible lifestyle it tends to offer. Unfortunately, a large number of workers might never get there. In a TD Ameritrade study, 25% of U.S. adults say they don’t think they’ll ever retire. And they’re probably not the only ones. That’s because 1 out of every 3 workers have no money set aside for the future, and that includes 30% of folks 55 and over.

But even those who are saving aren’t doing a good enough job. Baby boomers aged 56 to 61 have a median savings of $17,000, which won’t last very long in retirement. And the fact that many seniors are living longer puts retirement in an even more precarious spot.

Read the entire article: 4 Signs You Might Never Retire @themotleyfool #stocks

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Planning to retire early? 5 things you should keep in mind

Financial Planning, Retirement

Retiring earlier than your actual retirement date could be a refreshing thought. For some early retirement could mean quitting a salaried job in their forties and fifties. However, for all those who choose this option, their personal finances have to be well chalked out for the future.

“A trend that may take shape more in future, is phasing out of work over a period of time and combining work with retirement – to supplement income or just to contribute whilst one can,” said Kulin Patel, Head of Retirement (South Asia), Willis Towers Watson.

Retirement planning can be tough if one is planning to retire early. Here are a few things you should keep in mind while taking the decision:

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4 Ways to Find Your Retirement Number

Financial Planning, Retirement

Before you can start saving for retirement, you’ve got to figure out how much you’ll need to save. Finding your “retirement number” can be as simple or as complicated as you want to make it, with the caveat that more complicated plans are likely to produce the most accurate retirement number. However, even a simple “off the rack” plan will get you enough information to build a solid retirement savings strategy. Here are some of the most popular approaches for coming up with your retirement number.

Read the entire article: 4 Ways to Find Your Retirement Number @themotleyfool #stocks

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Dentists: Don’t ‘fail’ retirement. Wisdom for your next chapter

Financial Planning, Retirement

Dentists who’ve experienced the stressful retirement transition say that it pays to be prepared emotionally as well as financially, and to begin preparations years before hanging up that cheek retractor for good. If you want to succeed at retirement, take the following advice to heart:

Slowly transition out. Abruptly stopping work can be a huge shock. A better way involves gradually scaling back on work commitments. For example, one dentist I know is transitioning down to working two days per week and plans to continue doing so for several years.Keith Lawrence, author of Your Retirement Quest: 10

Read the entire article: Dentists: Don’t ‘fail’ retirement. Wisdom for your next chapter – DentistryIQ

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This Is the Perfect Retirement Age—and It’s Not 65

Lifestyle, Retirement

Counting the clock until your retirement? You might want to put away your pension plan. According to a Japanese doctor, you should never clock out of the workforce—or do so well after the age of 65, at least.

In an interview with Japan Times, Dr. Shigeaki Hinohara, a physician and chairman emeritus of St. Luke’s International University, said not retiring was one of his secrets to living a long, healthy life.

Before you roll your eyes, consider this: When most people lived until age 68, the typical retirement age was around 65 years old. Now that people are living much longer, they should also hold off on retiring, Dr. Hinohara says. Staying busy well into your senior years gives you a sense of purpose and fulfillment, which could keep you healthy as you age. And doing so couldn’t be easier; just check out the perfect jobs for seniors.

Read the entire article: This Is the Perfect Retirement Age—and It’s Not 65 | Reader’s Digest

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When should you make ‘course corrections’ to your retirement plan?

Financial Planning, Retirement

Course corrections — whether you’re flying to the moon or sailing across an ocean or just shopping for groceries — are a necessary part of life.

Consider, for instance, the historic Apollo 11 flight plan in which there are 13 references to the term “course correction.” Without those and other course corrections, it’s unlikely the astronauts would have reached their goals of walking on the moon and then returning safely to Earth.

Read the entire article: When should you make ‘course corrections’ to your retirement plan?

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Your retirement planning starts with Social Security

Retirement, Social Security

Right now is the perfect time to start planning for a secure, comfortable retirement. And you can count on Social Security to help you begin the process.

First, we encourage you to set up an online my Social Security account so you can verify your lifetime earnings record and make sure you get credit for all of your contributions to the Social Security system through the Federal Insurance Contributions Act (FICA) payroll taxes. If you haven’t set up your personal my Social Security account yet, you can do so at www.socialsecurity.gov/myaccount.

Read the entire article: Your retirement planning starts with Social Security – Journal Advocate

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How To Get The Most Out Of Retirement

Lifestyle, Retirement

The best thing about retirement, I have found, is that for the first time in my life I’m in charge of my time. From kindergarten through college, from that first to that last job, my time and tasks have been governed by others.

Now that I’m a couple of years into retirement, I decide what I’ll do and when I’ll do it.

 As liberating as this may sound, you still should be strategic in planning how you are going to spend the next couple of decades.

Read the entire article: How To Get The Most Out Of Retirement

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6 Things To Do 6 Years Before Retiring

Financial Planning, Retirement

Congratulations! At your 60th birthday, you’ve actually entered your seventh decade of living. We hope that you have given some thought to your retirement by now and made significant plans toward meeting your retirement goals. If so, age 60 is a good milestone to trigger a review of your retirement plans. (If not, start planning immediately, because you are rapidly running out of time.)

Now is the perfect time to think about your post-career life and take some meaningful actions. Here are six steps at 60 that can guide you toward a happy retirement.

1. Review/Create Your Retirement Plans – What does retirement mean to you? Whether it’s relaxation, travel, a second career, or some other pursuit, outline what you plan to do in retirement now that the end of your career is in sight. You need to firm up your plans in order to perform the next steps

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Reports of a US retirement crisis are off the mark: Think tank study

Lifestyle, Retirement

These days, hardly anybody believes the American retirement dream is doing all right. In fact, 88 percent of Americans agree that the nation faces a retirement crisis, according to a 2017 survey by the Washington, D.C.-based National Institute on Retirement Security pension research group.

However, a small but vocal group of scholars is advancing an opposing viewpoint. They say Americans’ chances for financial security in retirement are in better shape than is commonly supposed.

Read the entire article: Reports of a US retirement crisis are off the mark: Think tank study

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Working Beyond 65 — Will You Want To Or Need To?

Retirement

Many of us work with two kinds of coworkers – those who say they can’t wait to retire and those who swear they love their jobs so much they plan to die at their desks. I get the first group.

Who doesn’t want to retire to a life of leisure without alarm clocks, meetings, conference calls, and commuting in traffic?

The second group, however, I view with a somewhat skeptical eye. Sure, some of us have dream jobs that we can’t wait to dive into every day and we would be very happy working in them until we are

Read the entire article: Working Beyond 65 — Will You Want To Or Need To?

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