Howto Do Things You Want To Do » retirement http://howto-you.com Articles and Commentary from Howto Books You can Use Tue, 06 Jul 2010 03:38:34 +0000 en hourly 1 http://wordpress.org/?v=3.0 2008 bill@howto-you.com (Bill Millikin) bill@howto-you.com (Bill Millikin) Education 1440 howto, knowledge, training, tips and ideas, skills Articles and Commentary from Howto Books You can Use Articles and Commentary from Howto Books You can Use Bill Millikin Bill Millikin bill@howto-you.com No clean http://howto-you.com/wp-content/plugins/podpress/images/powered_by_podpress.jpg Howto Do Things You Want To Do http://howto-you.com 144 144 Episode 4 – Can You Afford to Retire? http://howto-you.com/http:/howto-you.com/family/can-you-afford-to-retire http://howto-you.com/http:/howto-you.com/family/can-you-afford-to-retire#comments Thu, 19 Jun 2008 20:07:41 +0000 Bill http://howto-you.com/?p=31 Can You Afford to Retire?

Although you may have looked forward to your retirement for years, the price of living keeps on going up and the value of your investments seem to be going down. Or there may be things that you really . . . → Read More: Episode 4 – Can You Afford to Retire?]]>

Can You Afford to Retire?

Although you may have looked forward to your retirement for years, the price of living keeps on going up and the value of your investments seem to be going down. Or there may be things that you really need to purchase, or a trip that you are saving up for. So can you really afford to retire? Perhaps you need to visit your accountant before you decide.

You could also search online and use one of the retirement calculators you will find there. They are quite simple to use, but you will need to put in the correct figures. You may have been offered a lump sum redundancy or retirement package deal that looks sweet, but the trouble with them is that you have all this money at once and it’s very tempting to spend up big in the first few years of your retirement.

Instead, you should be investing it in an effort to make more. Retirement years may well last for quite a long time. At least we hope so. But you need money to live on so don’t spend it all. If you do take a lump sum, be sure to roll it over to avoid a big tax bill. It’s bad enough using your hard-earned money to pay bills, let alone giving it to the taxman when you don’t have to.

Some money professionals believe people need to save 12% of their wage from about their mid-thirties on, to fund their retirement adequately. If you start even younger, then you will have the advantage of compounding to aid you in later years.

About 30% of Americans choose not to have a retirement plan, even though they could have one to which their employers contribute. This type of plan is called a 401k plan. The advantages of it are that you can take it with you from job to job and you are able to invest the money as you choose. A 401k plan also saves your tax bill, since the money goes in before being taxed.

Not such a good idea is that the employee decides how much to save and where to invest it. So if you decide to save only a tiny amount or make a bad investment, you’ll lose out. It is wise to look carefully into saving for your retirement. There is much good advice available on the Internet and there are professionals who can help. Just make sure they don’t take too big a slice as their reward.

If you can’t afford to retire, there are several options. You could do part-time work. This could be in the area of your present work, or it could be something completely different. You may have an absorbing hobby that you could make extra cash from. But remember that you won’t always be able to work, so saving is the name of the game.

“I hope you enjoyed today’s featured article, and thanks for reading!
Before you go, would you be interested in learning more tips and ideas
for your retirment planning?  If so, go to

http://retirementplanning.howto-you.com

and check out my book “How to Plan an Enjoyable Retirement.”  It contains
many good ideas and suggestions for you.

Thanks again for reading and have a great day!”

]]> http://howto-you.com/http:/howto-you.com/family/can-you-afford-to-retire/feed 0 3:33 Can You Afford to Retire? Although you may have looked forward to your retirement for years, the price of living keeps on going up and the ... Can You Afford to Retire? Although you may have looked forward to your retirement for years, the price of living keeps on going up and the value of your investments seem to be going down. Or there may be things that you really need to purchase, or a trip that you are saving up for. So can you really afford to retire? Perhaps you need to visit your accountant before you decide. You could also search online and use one of the retirement calculators you will find there. They are quite simple to use, but you will need to put in the correct figures. You may have been offered a lump sum redundancy or retirement package deal that looks sweet, but the trouble with them is that you have all this money at once and itrsquo;s very tempting to spend up big in the first few years of your retirement. Instead, you should be investing it in an effort to make more. Retirement years may well last for quite a long time. At least we hope so. But you need money to live on so donrsquo;t spend it all. If you do take a lump sum, be sure to roll it over to avoid a big tax bill. Itrsquo;s bad enough using your hard-earned money to pay bills, let alone giving it to the taxman when you donrsquo;t have to. Some money professionals believe people need to save 12% of their wage from about their mid-thirties on, to fund their retirement adequately. If you start even younger, then you will have the advantage of compounding to aid you in later years. About 30% of Americans choose not to have a retirement plan, even though they could have one to which their employers contribute. This type of plan is called a 401k plan. The advantages of it are that you can take it with you from job to job and you are able to invest the money as you choose. A 401k plan also saves your tax bill, since the money goes in before being taxed. Not such a good idea is that the employee decides how much to save and where to invest it. So if you decide to save only a tiny amount or make a bad investment, yoursquo;ll lose out. It is wise to look carefully into saving for your retirement. There is much good advice available on the Internet and there are professionals who can help. Just make sure they donrsquo;t take too big a slice as their reward. If you canrsquo;t afford to retire, there are several options. You could do part-time work. This could be in the area of your present work, or it could be something completely different. You may have an absorbing hobby that you could make extra cash from. But remember that you wonrsquo;t always be able to work, so saving is the name of the game. "I hope you enjoyed today's featured article, and thanks for reading! Before you go, would you be interested in learning more tips and ideas for your retirment planning?nbsp; If so, go to http://retirementplanning.howto-you.com and check out my book "How to Plan an Enjoyable Retirement."nbsp; It contains many good ideas and suggestions for you. Thanks again for reading and have a great day!" Family,,Personal Bill Millikin clean No Episode 2 – Do You WANT to Retire? http://howto-you.com/http:/howto-you.com/personal/do-you-want-to-retire http://howto-you.com/http:/howto-you.com/personal/do-you-want-to-retire#comments Thu, 12 Jun 2008 17:42:48 +0000 Bill http://howto-you.com/?p=23 . . . → Read More: Episode 2 – Do You WANT to Retire?]]>

Do You WANT to Retire?

Many people look forward to their retirement for years before they are old enough to do so. They daydream about all the time they’ll have to do the things they want to do. Or they may think that staying up late and then sleeping in till all hours is what they want most in the world. But do you really want to retire?

For a man especially, the work he does is how he is known. He feels somewhat less a person once this is taken from him, or in the case of retirement, is given up. He is not a mechanic, or a dentist or businessman any more. He is simply ‘retired’. For many people, their work gives them an important reason to exist. Once they don’t have this work to go to every day, they fall in a heap. How many men do you hear of who actually die not long after their retirement?

You may get a great deal of satisfaction from your job. It gives you something to get up for now that the children have all left home and the grandchildren are old enough to go their own ways. Your friends are there. It’s like a second home. Why would you want to retire?

On the other hand, you may have stayed in a job you hate for years simply to get the kids through college. The boss is crabby and someone ten years younger than you was promoted above you only last week. They certainly don’t appreciate your input. You feel unimportant and come home with a headache every day. You only go because – well, what else would you do?

If you fit into the latter category; you hate your job but are reluctant to give it up because you hate the idea of retirement, think again. There are many areas where your expertise could be welcomed. How about traveling to a third world country in a voluntary work capacity? That could be the most fulfilling thing you’ve ever done.

Remember that doing nothing can be really boring. When you are bored, you are not happy. You may even pig out on chocolate so much that you become obese. Then you’d have to give up that bit of sport that is the only thing you look forward to.

But you may have a great plan of all the things you are going to do as soon as you retire. If this is you, make sure you do them. Get out there and have lots of fun while you still can – and forget about growing old!

I hope you enjoyed today’s featured article, and thanks for reading!
Before you go, would you be interested in learning more tips and ideas
for your retirment planning? If so, go to

http://retirementplanning.howto-you.com

and check out my book “How to Plan an Enjoyable Retirement.” It contains
many good ideas and suggestions for you.

Thanks again for reading and have a great day!

]]> http://howto-you.com/http:/howto-you.com/personal/do-you-want-to-retire/feed 0 3:04 Do You WANT to Retire? Many people look forward to their retirement for years before they are old enough to do so. They daydream about all ... Do You WANT to Retire? Many people look forward to their retirement for years before they are old enough to do so. They daydream about all the time theyrsquo;ll have to do the things they want to do. Or they may think that staying up late and then sleeping in till all hours is what they want most in the world. But do you really want to retire? For a man especially, the work he does is how he is known. He feels somewhat less a person once this is taken from him, or in the case of retirement, is given up. He is not a mechanic, or a dentist or businessman any more. He is simply lsquo;retiredrsquo;. For many people, their work gives them an important reason to exist. Once they donrsquo;t have this work to go to every day, they fall in a heap. How many men do you hear of who actually die not long after their retirement? You may get a great deal of satisfaction from your job. It gives you something to get up for now that the children have all left home and the grandchildren are old enough to go their own ways. Your friends are there. Itrsquo;s like a second home. Why would you want to retire? On the other hand, you may have stayed in a job you hate for years simply to get the kids through college. The boss is crabby and someone ten years younger than you was promoted above you only last week. They certainly donrsquo;t appreciate your input. You feel unimportant and come home with a headache every day. You only go because - well, what else would you do? If you fit into the latter category; you hate your job but are reluctant to give it up because you hate the idea of retirement, think again. There are many areas where your expertise could be welcomed. How about traveling to a third world country in a voluntary work capacity? That could be the most fulfilling thing yoursquo;ve ever done. Remember that doing nothing can be really boring. When you are bored, you are not happy. You may even pig out on chocolate so much that you become obese. Then yoursquo;d have to give up that bit of sport that is the only thing you look forward to. But you may have a great plan of all the things you are going to do as soon as you retire. If this is you, make sure you do them. Get out there and have lots of fun while you still can - and forget about growing old! I hope you enjoyed today's featured article, and thanks for reading! Before you go, would you be interested in learning more tips and ideas for your retirment planning? If so, go to http://retirementplanning.howto-you.com and check out my book "How to Plan an Enjoyable Retirement." It contains many good ideas and suggestions for you. Thanks again for reading and have a great day! Personal Bill Millikin clean No