Planning for retirement involves gaining an understanding of approximately what your expenses will be in the future. This is somewhat challenging, and one factor that is quite relevant is your life expectancy. As we all know anything could happen to anyone at any time. However, you can look at the statistics to gain an idea with regard to probabilities as you are planning ahead toward the future. When you do examine the facts one thing will certainly stand out: People are living longer … [Read more...]
Speaking of End of Life Choices
It is incredibly difficult to raise the topic of end of life considerations. At some point, someone will have to broach the subject, even if Mom or Dad have already made all of the necessary arrangements. It’s far different than retirement topics; these conversations have to do with funeral and burial arrangements, do not resuscitate orders, powers of attorney for medical decisions – the really tough topics. If you think about it and the mindset we’re in when we plan for retirement, it’s one … [Read more...]
Military Service & Long-Term Planning
Military veterans take risks and suffer hardships, so embarking on a military career is certainly not an easy road to take. However, people who serve are often fueled by the motivation to serve their country and this can be a reward in and of itself. At the same time, their contributions do not go unnoticed and there are some very useful rewards that go along with military service. These benefits can play a significant role in your long-term planning efforts. The cost of long-term care is … [Read more...]
Useful Retirement Planning Guide Available Online
We live in the information age, and as a result there is a plethora of useful information available to us via the simple click of a computer mouse. Of course you have to be discerning about the sources of the information that you are able to pull up, but the ready availability of data certainly makes it easier to make informed decisions when you are planning for your retirement. With this in mind we would like to point you toward a very valuable resource that is offered on the Social Security … [Read more...]
Social Security COLA On The Way In 2012
When you hear retirement planning attorneys emphasizing how important it is to make plans for the future you would do well to take their advice seriously. The statistics indicate that a very significant percentage of Americans wind up in a difficult position when they reach the latter portion of their lives, and this is in large part due to a lack of planning and unrealistic expectations regarding entitlement programs for seniors. The majority of people who receive Social Security say that it … [Read more...]
Make Debt Reduction Part Of Your Retirement Plan
Retirement can conjure a lot of images in the mind's eye. You may picture yourself lounging on a tropical beach with a cocktail in hand watching the waves gently lick the alabaster sands, or simply imagine an everyday lifestyle of arising whenever you choose to with an open-ended itinerary in front of you. Life is for living, and there is certainly nothing wrong with looking forward to your golden years with very positive expectations. However, in the end "retirement" is not a state of … [Read more...]
Retirement Planning For Veterans
Far too many people find themselves unprepared for retirement, and if you don't want to be one of them you would do well to devise an intelligent plan and stick to it. Depending on your resources and the nature of your career path exactly how to go about this is going to vary. A lot of people who look toward the future at a young age decide to join the military with an eye on retirement. After 20 years of active duty veterans qualify for a retirement pension. They receive this pension for life, … [Read more...]
Retirement Age Is A Goal, Not A Given
A significant percentage of people go through life expecting that they will retire when they reach their mid-to-late 60s without making any particular plans to make this possible. This is a mistake, and it is one of those mistakes that you don't just learn from and then dust yourself off and walk away all the wiser. If you wind up unprepared for retirement financially, you are not going to have the opportunity to recover and you may well have to work until you become physically and/or mentally … [Read more...]
Don't Be Lulled Into A False Sense Of (Social) Security
There are people who assume that they will be able to retire as soon as they become eligible to receive Social Security benefits. At the present time the full retirement age for individuals born between the years 1943 and 1954 is 66 years of age. After this the full retirement age rises by two months each year, so if for example you were born in 1955 your full retirement age would be 66 years and two months. It goes up in this manner year-by-year until 1960. Americans who were born in 1960 and … [Read more...]
SSI & Medicaid
Social Security and Medicare are the most commonly known government programs for the elderly. However, they're not the only ones and it is a good idea to be aware of all of of the resources that are out there to assist people who have reached an advanced age. With this in mind, we would like to take a look at Supplemental Security Income or SSI. To be able to qualify for Social Security you have to have paid a certain amount into it throughout your life. Many people are surprised to hear that … [Read more...]
