Today more and more people are now thinking about retiring early. Now people see retirement as a way of finally getting to do the things that they enjoy and could not do whilst they worked. But if you are seriously thinking about retiring then you need to look at and calculate early retirement figures in order to make sure that it will be beneficial to you.
When considering retiring early there are two issues which makes be thought about first.
1. Can you really afford to retire early?
2. Do you actually really want to retire early?
In order for any one to retire early then will need to calculate out how much they will actually need in order to live comfortably.
1. First you need to determine your pay out period. This relates to the length of time you will need your retirement funds to last for. So really what we are asking here is what is your life expectancy? A great way for finding out what your life expectancy will be is by looking at the Life Expectancy Tables provided by the IRS. However, it might be advisable to add on a further 5 or 10 years on to the figure that they come up with and this will be your pay out period.
2. Once you have determined what your pay out period is going to be you can then calculate the inflation adjusted withdrawal rate. During this part of the calculation you will need to think about how much risk you are willing to take.
To calculate what your expenses will be on an annual basis in order to calculate early retirement. What you do is take your annual expenses and then increase them by 5% in order to provide you with a ball park figure of what it is likely to cost you to live comfortably each year during your retirement. In to this equation you will also need to include an inflation rate. So I would recommend that you say put this at about 4% as during the last 20 years it has sat at around 5%.
So by using the pointers provided above a person should be able to calculate early retirement in order to see if it would be beneficial to them to do so.
If you need more helpful information on Retirement try visiting retirement-life-today, a website that specializes in providing helpful tips, advice, and retirement resources to include calculate early retirement.
Article Source: http://EzineArticles.com/?expert=Tom_Turner
Saturday, May 30, 2009
Tuesday, May 26, 2009
How to Make Cash Quick From Blogs and Retire Early
If you want to discover how to make cash quick from blogs, then you have come to the right place. Picture yourself quitting your day job all because you are already using blogs to earn almost 10 times what you are earning from your day job. Yes. You can do it, once you know how.
There is one thing that you must realize when it comes to making cash quick from blogs. It is not a pipe dream; it is a real business capable of earning you thousands per day if you are careful to learn the ropes using easy-to-understand techniques.
Let me make one thing very clear to you. There are certain skills that you need to acquire if you want to know how to make cash quick from blogs. Without acquiring these skills you won't be able to generate a single cent from your blog let alone generate massive income from it.
Here are some of the skills that you need to acquire;
1) You have to know how to build a community of interested followers so that you will easy make quick cash on demand anytime from your blog.
2) You have to know how to create SEO (search engine optimization) friendly blogs so that you can get better search engine rankings. This will equal more visitors to your blog and more sales for you.
3) You need to know how to research and write content that will attract highly targeted streams of traffic to your blog everyday.
There are many more skills that you will need to acquire and I can't possibly list all of them here. So here is what I suggest.
If you really want to know how to make cash quick from blogs, I suggest that you follow this link immediately:
Click here now
Discover how you can turn your blog to a cash generator
Article Source: http://EzineArticles.com/?expert=Ay_Samuel
There is one thing that you must realize when it comes to making cash quick from blogs. It is not a pipe dream; it is a real business capable of earning you thousands per day if you are careful to learn the ropes using easy-to-understand techniques.
Let me make one thing very clear to you. There are certain skills that you need to acquire if you want to know how to make cash quick from blogs. Without acquiring these skills you won't be able to generate a single cent from your blog let alone generate massive income from it.
Here are some of the skills that you need to acquire;
1) You have to know how to build a community of interested followers so that you will easy make quick cash on demand anytime from your blog.
2) You have to know how to create SEO (search engine optimization) friendly blogs so that you can get better search engine rankings. This will equal more visitors to your blog and more sales for you.
3) You need to know how to research and write content that will attract highly targeted streams of traffic to your blog everyday.
There are many more skills that you will need to acquire and I can't possibly list all of them here. So here is what I suggest.
If you really want to know how to make cash quick from blogs, I suggest that you follow this link immediately:
Click here now
Discover how you can turn your blog to a cash generator
Article Source: http://EzineArticles.com/?expert=Ay_Samuel
Thursday, May 21, 2009
Top Five Fears of Those Who Retire Early
Retiring early is something we all think about but never have the courage to go ahead with it. The reasons is many but primarily it is because of fears that plague us and we keep pondering what will happen if we retire early.
Here are the top fears of those who retire early:
1. Early retirement is seen as a large increase in the cost of healthcare and health insurance. No doubt this is a legitimate fear. You will be able to do without a new car or a yearly vacation but you will not be able to cope with the pain in the hip requiring a hip replacement surgery. Unfortunately, healthcare costs are unavoidable and it affects any and everyone retiring, not just those who retire early. That is why it is important to plan for early retirement if you want to hang up your gloves before any of your peers.
2. Seeing cutbacks in Social Security benefits or increase in tax. Unfortunately what lawmakers are going to do down the line is practically unknown. Any changes in taxes or Social security laws will affect all workers but it tends to affect those planning early retirement all the more as they do not have that many options available.
The best way to handle this early retirement fear by not counting on Social Security at all and should you get it, treat it as an bonus rather than depending on it. Plan your retirement income in such a way that you do not depend on Social Security to help you financially each month.
3. Once resignation is handed, it will be impossible for you to return to a workplace. Just because you resign or retire early does not mean that you lose all your capabilities and skills. If you change your mind and want to return to work, you will be able to do so. However, it may not be at the same position. You will be able to work at a few rung lower; but returning to work is always an option for anyone retiring early.
4. Incurring financial responsibilities for children that were not anticipated when doing financial planning. The fact remains that if you retire early, the possibility of having children is there after retirement. That is why it is important that you factor in the financial responsibilities when you are planning your early retirement.
5. Early retirement means experiencing boredom. This is a problem faced by many people who retire early. However, early retirement should be looked at from a different perspective. It is a new of living and you have to give enough thought of what you want to do after you retire. If you do not know how you will spend your time after retirement, you are not at all prepared for retired life.
About Author: Pauline Go is an online leading expert in finance industry. She also offers top quality financial tips like :Tutorial on Globalization and International Business and Thailand Shipping Company
Article Source: http://EzineArticles.com/?expert=Pauline_Go
Here are the top fears of those who retire early:
1. Early retirement is seen as a large increase in the cost of healthcare and health insurance. No doubt this is a legitimate fear. You will be able to do without a new car or a yearly vacation but you will not be able to cope with the pain in the hip requiring a hip replacement surgery. Unfortunately, healthcare costs are unavoidable and it affects any and everyone retiring, not just those who retire early. That is why it is important to plan for early retirement if you want to hang up your gloves before any of your peers.
2. Seeing cutbacks in Social Security benefits or increase in tax. Unfortunately what lawmakers are going to do down the line is practically unknown. Any changes in taxes or Social security laws will affect all workers but it tends to affect those planning early retirement all the more as they do not have that many options available.
The best way to handle this early retirement fear by not counting on Social Security at all and should you get it, treat it as an bonus rather than depending on it. Plan your retirement income in such a way that you do not depend on Social Security to help you financially each month.
3. Once resignation is handed, it will be impossible for you to return to a workplace. Just because you resign or retire early does not mean that you lose all your capabilities and skills. If you change your mind and want to return to work, you will be able to do so. However, it may not be at the same position. You will be able to work at a few rung lower; but returning to work is always an option for anyone retiring early.
4. Incurring financial responsibilities for children that were not anticipated when doing financial planning. The fact remains that if you retire early, the possibility of having children is there after retirement. That is why it is important that you factor in the financial responsibilities when you are planning your early retirement.
5. Early retirement means experiencing boredom. This is a problem faced by many people who retire early. However, early retirement should be looked at from a different perspective. It is a new of living and you have to give enough thought of what you want to do after you retire. If you do not know how you will spend your time after retirement, you are not at all prepared for retired life.
About Author: Pauline Go is an online leading expert in finance industry. She also offers top quality financial tips like :Tutorial on Globalization and International Business and Thailand Shipping Company
Article Source: http://EzineArticles.com/?expert=Pauline_Go
Saturday, May 16, 2009
Can You Still Retire Early?
A lot of people look forward to retirement. Images of relaxing on the beach, taking a cruise, and enjoying the fruits of your labor come to mind. No nest egg is too big for retirement. However, with the economic downturn draining the value from IRAs, 401(k), and pension plans, a lot of would-be retirees are wondering if they can really afford to retire early or even retire at the right age at all.
Previous goals which used to be realistic only a few years ago now seem completely off the table. The financial predicaments many people are finding themselves in are testing the assumptions they made about retirement planning. Solid retirement plans that used to give decent yields are now in jeopardy. Many would-be retirees are questioning whether it is possible for them to retire early or if it would be possible to retire at all.
3 Step Process to Damage Control
Despite the economic downturn, it is still possible to take control of your retirement. The three steps include: finding a job you love, saving more, and maintaining a modest living standard. Even if you do decide to change your investment strategy, the critical aspect is to keep on saving. It is important to maximize whatever retirement program from work because you will definitely need it.
It is also important to be aware of what's happening in the market. However, no matter what you hear, never panic. Sit down with a qualified financial expert who will you help in your long-term strategy. It would be a good idea to hire someone who is not affiliated with certain financial companies. That way, he will be able to give unbiased review and good advice. There are unique instances when you will need to take a more active role in managing your money. The challenges today are one of them.
Is There a Target Figure?
There is no magic number when it comes to retirement planning. The amount you should target depends on your mindset, your capability, and what life stage you are in. A lot of financial advisers are simply advising their clients to put away as much as possible at the earliest possible time.
The main problem with setting targets is that during your 20's or even 30's, you have no idea what the living standards will be like several decades from now. In fact, even people in their 50's don't know exactly what their magic number should be. Even if you do come up with a figure early on, the large number might "take the wind off your sails".
Author and entrepreneur Bernz Jayma P. is the owner of a financial blog dedicated to helping people expand their knowledge on personal finance. You may visit his blog at http://www.Invesmint.com.
Article Source: http://EzineArticles.com/?expert=Bernz_Jayma_P.
Previous goals which used to be realistic only a few years ago now seem completely off the table. The financial predicaments many people are finding themselves in are testing the assumptions they made about retirement planning. Solid retirement plans that used to give decent yields are now in jeopardy. Many would-be retirees are questioning whether it is possible for them to retire early or if it would be possible to retire at all.
3 Step Process to Damage Control
Despite the economic downturn, it is still possible to take control of your retirement. The three steps include: finding a job you love, saving more, and maintaining a modest living standard. Even if you do decide to change your investment strategy, the critical aspect is to keep on saving. It is important to maximize whatever retirement program from work because you will definitely need it.
It is also important to be aware of what's happening in the market. However, no matter what you hear, never panic. Sit down with a qualified financial expert who will you help in your long-term strategy. It would be a good idea to hire someone who is not affiliated with certain financial companies. That way, he will be able to give unbiased review and good advice. There are unique instances when you will need to take a more active role in managing your money. The challenges today are one of them.
Is There a Target Figure?
There is no magic number when it comes to retirement planning. The amount you should target depends on your mindset, your capability, and what life stage you are in. A lot of financial advisers are simply advising their clients to put away as much as possible at the earliest possible time.
The main problem with setting targets is that during your 20's or even 30's, you have no idea what the living standards will be like several decades from now. In fact, even people in their 50's don't know exactly what their magic number should be. Even if you do come up with a figure early on, the large number might "take the wind off your sails".
Author and entrepreneur Bernz Jayma P. is the owner of a financial blog dedicated to helping people expand their knowledge on personal finance. You may visit his blog at http://www.Invesmint.com.
Article Source: http://EzineArticles.com/?expert=Bernz_Jayma_P.
Saturday, May 9, 2009
What You Must Do If You Want To Retire Early
If you are looking to retire early then there are a number of things which you need to think about. The most obvious question is, can you really afford early retirement and if not, how can you ensure that you get more money?
Affording to Retire Early
Who wouldn't want to retire a few years early? No more early mornings or late nights at the office. No more answering to somebody else when you want a little 'me time'. However for many of us the dream of retiring and doing what we like is unfortunately a far away fantasy. With more and more people having to work long past the retiring age just to survive, how can you possibly find the money to for early retirement? Well there are ways and here you will find out exactly what those ways involve.
Know What You Are Spending
Most people these days tend to overspend and they do not even realise it. So if you really want to save money and retire early, you will need to focus more upon what you are spending. Think about whether you need what it is you are spending. By cutting back on things such as nights out and entertainment, you could potentially save quite a lot per month. Little things such as newspapers, magazines and treats also add up and so by cutting back a little you could really make a difference to your retirement fund.
Be Serious About Saving
It is a fact that most people these days do not save half as much as they need and that can be a huge problem. If you want to retire at all, never mind early, then you really need to make more of an effort to save. This means doing more than just putting away the odd dollar. You need to analyze your finances and work out how much you can afford to save. Then open up a separate savings account and set up a direct debit so that every month a certain amount is saved. That way you will not miss it as you will not have even seen it.
Overall there are a number of ways in which you can save money to retire early and the two mentioned above are just a couple of the best ones. You should also aim to eliminate any debts you may currently have too before you can seriously consider retiring early. Follow these tips and you may just be able to save yourself enough to relax and enjoy life a little earlier than you otherwise would.
For the latest on retirement visit http://www.retirementviews.com - a website that offers tips on retirement like saving for retirement, how to choose the perfect retirement community and how to retire early
Article Source: http://EzineArticles.com/?expert=Lee_Dobbins
Affording to Retire Early
Who wouldn't want to retire a few years early? No more early mornings or late nights at the office. No more answering to somebody else when you want a little 'me time'. However for many of us the dream of retiring and doing what we like is unfortunately a far away fantasy. With more and more people having to work long past the retiring age just to survive, how can you possibly find the money to for early retirement? Well there are ways and here you will find out exactly what those ways involve.
Know What You Are Spending
Most people these days tend to overspend and they do not even realise it. So if you really want to save money and retire early, you will need to focus more upon what you are spending. Think about whether you need what it is you are spending. By cutting back on things such as nights out and entertainment, you could potentially save quite a lot per month. Little things such as newspapers, magazines and treats also add up and so by cutting back a little you could really make a difference to your retirement fund.
Be Serious About Saving
It is a fact that most people these days do not save half as much as they need and that can be a huge problem. If you want to retire at all, never mind early, then you really need to make more of an effort to save. This means doing more than just putting away the odd dollar. You need to analyze your finances and work out how much you can afford to save. Then open up a separate savings account and set up a direct debit so that every month a certain amount is saved. That way you will not miss it as you will not have even seen it.
Overall there are a number of ways in which you can save money to retire early and the two mentioned above are just a couple of the best ones. You should also aim to eliminate any debts you may currently have too before you can seriously consider retiring early. Follow these tips and you may just be able to save yourself enough to relax and enjoy life a little earlier than you otherwise would.
For the latest on retirement visit http://www.retirementviews.com - a website that offers tips on retirement like saving for retirement, how to choose the perfect retirement community and how to retire early
Article Source: http://EzineArticles.com/?expert=Lee_Dobbins
Monday, May 4, 2009
Early Retirement - 5 Questions You Need to Answer Before Taking the "Package"
"Retirement has killed more people than hard work ever will"- A Wise Man
It is not surprising these days to hear about persons' being offered and receiving early retirement packages from employers. This is just one of a number of restructuring and downsizing method used by the corporate world to cut cost. And most recently you saw it used in the restructuring exercise of the Royal Bahamas Police Force.
So whether you are a part of the private or government sector it is something you had better get used to it. And that is why it is so important that you- fully understand what you are getting before accepting an "Early Retirement" package
There is no question that these packages can be quite attractive, and that is the intent of the employer to make it as attractive as possible from a cash in hand prospective but it may or may not be a good choice for you. Hopefully, once you are done reading you will be empowered to look carefully at what you are getting before accepting, even if you don't have an option to refuse the 'package'.
So what is this all about?
An early retirement package is an offer of money in return for you retiring at an earlier time than you had planned. Most companies include a severance pay based on your annual salary and your years of service. An early retirement package might also include benefits such as health insurance or life insurance.
Can I afford to this change?
To answer this question, you must have a clear picture of your current financial situation, your family's needs, and whether or not you have enough money to continue living the lifestyle you are accustomed too for the years of early retirement. If you had planned to retire at age 65 and you are now retiring at age 55, will you have enough money to support you for the additional 10 years?
Four steps you can take to prepare financially and make the transition less traumatic are:
Eliminate any major debts including mortgage and car payments
Create a peace of mind account to deal with any emergencies
Reduce or eliminate your credit card debt
And practice living on less than you earn.
Do I have appropriate protection?
Your employers may include health insurance in your early retirement package but most don't. And even if it is included you may have to pay the cost. And the cost may force you to get your own coverage. So you need to ensure that you and your family have adequate medical insurance coverage. Your best options maybe an individual medical policy or possibly coverage through your spouse's employment.
You maybe able to continue your life insurance coverage but this is usually very limited and and again you could be responsible for the cost. If your employer doesn't offer life insurance, then it's important that you get your own coverage.
What about my pension?
If your company has a pension plan, you usually can't start drawing from that pension until you reach a certain age but the good thing about this is the longer you wait, the more your monthly benefit check will be. But you should discuss all of your options and entitlements with your company's plan administrator or human resources department.
What about National Insurance?
It is important to note that early retirement benefit payment from National Insurance does not start until age 60. So if you retire earlier than age 60 you will have to wait for this benefit.
Also, if you rejoin the work force after age 60 your weekly salary must be less than $200.00 or monthly $866.67 to continue to receive National Insurance benefits.
What am I going to do?
Apart from all the money issues I feel this is the most important question you will have to answer. You may have been working for 30-40 year now that all coming to an end so what are you going to do. Believe it or not "Retirement has killed more people than hard work ever will." That's why it's so important that you know what you are going to do.
You may not have realized it but besides providing you with financial stability work also provided four other benefits:
an opportunity for you to socialize
a structured and scheduled environment
status or sense of importance
a sense of utility
Now that you will no longer be at work you must find activities to involve yourself in that would provide these benefits.
You can expect that With the current economic conditions that companies will continue to downsize and as a result offer early retirement packages. So start planning now before it happens to you. A helpful resource to help you plan is "Strategies for Achieving A Comfortable Retirement-Your" workbook.
"Retirement is the most expensive purchase you will ever make and it's the one thing you won't be able to borrow money for" - A Wise Man
Copyright © 2009 - Glenn S. Ferguson
Glenn Ferguson is a Financial Speaker, Consultant, Coach and Syndicated Writer, helping you to painlessly take control of your money to create wealth for you and your family. Tel: 1-242-327-2453 - Bahamas Tel: 1-501-588-4621- U.S.A. http://investinginyou.org
Article Source: http://EzineArticles.com/?expert=Glenn_Ferguson
It is not surprising these days to hear about persons' being offered and receiving early retirement packages from employers. This is just one of a number of restructuring and downsizing method used by the corporate world to cut cost. And most recently you saw it used in the restructuring exercise of the Royal Bahamas Police Force.
So whether you are a part of the private or government sector it is something you had better get used to it. And that is why it is so important that you- fully understand what you are getting before accepting an "Early Retirement" package
There is no question that these packages can be quite attractive, and that is the intent of the employer to make it as attractive as possible from a cash in hand prospective but it may or may not be a good choice for you. Hopefully, once you are done reading you will be empowered to look carefully at what you are getting before accepting, even if you don't have an option to refuse the 'package'.
So what is this all about?
An early retirement package is an offer of money in return for you retiring at an earlier time than you had planned. Most companies include a severance pay based on your annual salary and your years of service. An early retirement package might also include benefits such as health insurance or life insurance.
Can I afford to this change?
To answer this question, you must have a clear picture of your current financial situation, your family's needs, and whether or not you have enough money to continue living the lifestyle you are accustomed too for the years of early retirement. If you had planned to retire at age 65 and you are now retiring at age 55, will you have enough money to support you for the additional 10 years?
Four steps you can take to prepare financially and make the transition less traumatic are:
Eliminate any major debts including mortgage and car payments
Create a peace of mind account to deal with any emergencies
Reduce or eliminate your credit card debt
And practice living on less than you earn.
Do I have appropriate protection?
Your employers may include health insurance in your early retirement package but most don't. And even if it is included you may have to pay the cost. And the cost may force you to get your own coverage. So you need to ensure that you and your family have adequate medical insurance coverage. Your best options maybe an individual medical policy or possibly coverage through your spouse's employment.
You maybe able to continue your life insurance coverage but this is usually very limited and and again you could be responsible for the cost. If your employer doesn't offer life insurance, then it's important that you get your own coverage.
What about my pension?
If your company has a pension plan, you usually can't start drawing from that pension until you reach a certain age but the good thing about this is the longer you wait, the more your monthly benefit check will be. But you should discuss all of your options and entitlements with your company's plan administrator or human resources department.
What about National Insurance?
It is important to note that early retirement benefit payment from National Insurance does not start until age 60. So if you retire earlier than age 60 you will have to wait for this benefit.
Also, if you rejoin the work force after age 60 your weekly salary must be less than $200.00 or monthly $866.67 to continue to receive National Insurance benefits.
What am I going to do?
Apart from all the money issues I feel this is the most important question you will have to answer. You may have been working for 30-40 year now that all coming to an end so what are you going to do. Believe it or not "Retirement has killed more people than hard work ever will." That's why it's so important that you know what you are going to do.
You may not have realized it but besides providing you with financial stability work also provided four other benefits:
an opportunity for you to socialize
a structured and scheduled environment
status or sense of importance
a sense of utility
Now that you will no longer be at work you must find activities to involve yourself in that would provide these benefits.
You can expect that With the current economic conditions that companies will continue to downsize and as a result offer early retirement packages. So start planning now before it happens to you. A helpful resource to help you plan is "Strategies for Achieving A Comfortable Retirement-Your" workbook.
"Retirement is the most expensive purchase you will ever make and it's the one thing you won't be able to borrow money for" - A Wise Man
Copyright © 2009 - Glenn S. Ferguson
Glenn Ferguson is a Financial Speaker, Consultant, Coach and Syndicated Writer, helping you to painlessly take control of your money to create wealth for you and your family. Tel: 1-242-327-2453 - Bahamas Tel: 1-501-588-4621- U.S.A. http://investinginyou.org
Article Source: http://EzineArticles.com/?expert=Glenn_Ferguson
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