Retirement

The way people prepared for their retirement has changed dramatically over the last few decades. It used to be that most people planned and saved for their retirement the same way and those plans were fairly predictable. However, nothing could be further from today's reality where planning and saving for retirement is a much, much different scenario. Retirement in the 1980s Decades ago most retirement plans consisted of a combination of social security and a company pension plan. Then once you…

You forecast that they will need, each year in retirement, an annual income with the same purchasing power as $60,000 has today, i.e., their retirement income must keep up with inflation. There is currently a 1.5% annual price inflation rate that is expected to continue indefinitely. (I.e., their first withdrawal from their retirement account must account for the annual price inflation during the 16 years between now and the first retirement withdrawal. If this is not done, their standard of…

guarantee” (Gordon, 2016). The impact of the Employee Retirement Income Security Act (ERIS) has had on the employer’s retirement plans, health insurance plans and other benefits plan is that it holds employers responsible to ensure good intent when it comes to the employee benefits. For example, the law should include a plan that is fair to all employees and list any requirements or offers for affordable plans, including investing towards retirement plan (401K), affordable co-payments and/or…

5 Best Places To Retire: What Makes A Great Retirement Spot? Retirement is a new beginning of life. Usually most people plan to retire and live at the native place or at the family heirloom, where one has spent almost all the childhood and growing years and in which one knows every narrow lane and seasons. Nevertheless, the world is changing with the fast pace. The globalization actually helped to open the door of all countries for the people to live under certain conditions. Now, an Indian can…

saving for retirement are inflation rates. When saving in retirement accounts, it is best to know that inflation will affect present dollars put into the account in the future. Inflation rates reduce purchasing power and the interest rate in your savings account will likely be below the rate of inflation. The rate of inflation is increasing more than the amount of the savings account. Also, budgets are important to help Millennials have enough through retirement. With proper retirement planning,…

Federal law does not require employers to offer retirement plans to their employees. If employers choose to offer retirement plans, they must follow strict guidelines regarding how the plans are managed, operated, and presented to employees. The Employee Retirement Income Security Act (ERISA) is the law that governs all retirement plans in the United States. ERISA laws set the requirements for how a company retirement plan must be run. While ERISA does not apply to all employers, states may also…

Even though retirement is more than a quarter-century away for the under-30 crowd, there's plenty to be done now to ensure that you get to live the retirement you want, not the one that your Social Security check dictates. So today you're getting some retirement prep tips because a key to having enough money in retirement is to save early and save often. Dave Ramsey is fond of saying that people spend more time planning their vacations than planning for retirement. The amount of time we spend…

business employers may have found that offering health care and retirement benefits were enough to attract and retain the most qualified employees. As more small businesses begin offering these benefits however, that is no longer the case. Now businesses are needing to become more creative with their employee benefits packages to give them an edge and attract the best employees. However, other than the traditional health care, retirement, and possibly life insurance packages, many small…

future. Making preparations for the late future, specifically for something as far away as retirement, is something many people neglect, despite its importance. It does beg the question: how far does one plan for the future? The issues regarding to the private financial preparations for retirement were discussed in Thomas West’s presentation: Considerations for Financing Long Term Care In Retirement. To some, granted many, financing is a subject that can be considered rather boring,…

It's never to early to start saving for retirement and the more you have the better you can enjoy your golden years! You'll be amazed at how much money you can accumulate by changing a few things early on. Here's some tips on what you can do to get a boost in your retirement savings. Review your insurance. As you age, you may not need the same insurance coverage for life, house and car as you did when you were young. Your life insurance is there to provide income for your family but when the…