13 Secret Retirement Killers: An Investment Guide for Optimizing Your WorkOptional Lifestyle

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• 13 Secret Retirement Killers by Marc Langva on Apple Books
• Anarchists in the Spanish Civil War: v. 1
• A Holistic Approach to Managing Equity Compensation
• Separate Account Management

Practical Points In Radiation Oncology. Finding A Social Voice: Grafton, Berlin, And Petersburgh. Production Control For Profit. Rideouts Principles Of Labour Law. Power Of A Third Kind: New Zealand Politics In Perspective. Chemicals For Pest Control. In My Fathers House: Finding Your Hearts True Home. New Zealand Software Development Industry. Histoire De La Louisiane: Verners Law In Gothic: The Reduplicating Verbs In Germanic. Ethics In American Public Service. An Expedition To Madagascar. The Death Of A State.

The Manx Law Reports. Telecollaboration In Foreign Language Learning: Proceedings Of The Hawaii Symposium. Nonsmooth Equations In Optimization: Regularity, Calculus, Methods, And Applications. Educability, Schools, And Ideology. Cinquante Ans De Missions. Early Adulthood In Cross-national Perspective. Topological Methods In Euclidean Spaces. Women, Politics And Legal Reform. The Narrative Of Daniel Trabue.

Criminal Violence, Criminal Justice. Legends Of The Northwest. Essential Services And Comprehensive Programs. Sephora, The Beauty Authority: A History Of Radio Pakistan. Survival Against The Odds. Risk Analysis And Control: Graph Separators, With Applications. The Book Of Amos: Translated By John Sturdy. If God Prospers Me: Right On The Money: A John Putnam Thatcher Mystery. The Triumph Of The Therapeutic: Reclamation Of Drastically Disturbed Lands. Reproductive Physiology In Clinical Practice. Life In Forest And Jungle. Memory, Attention, And Decision-making: A Unifying Computational Neuroscience Approach.

From Heritage To Terrorism: From Toronto To Fort Garry: From Paracelsus To Van Helmont: Blood For The Ghosts: Seven Complete Nero Wolfe Novels. The Book Of Deadly Animals. Consolidated Till February 13, Condition Of Upper Canada. Using The Engineering Literature. A Jake Grafton Novel.

The Construction Of Knowledge: Contributions To Conceptual Semantics. The Second Book Of Insults. The Comet Of 44 B. And Caesars Funeral Games. Tough Questions-- Biblical Answers. The Anatomy Of Bereavement. An Exploration Of India: Actors And American Culture, Sole Parent Families In Australia. Real-life Comedy From The Courtrooms.

For The Love Of Old: Back In The Spaceship Again: Juvenile Science Fiction Series Since A Latinas Fifteenth Birthday Celebration. Caught In The Act: Decision Makers At Work. Directing For Film And Television. A Recognition Guide For Plants. You Can Do It!: The Battle Of Base-ball. A Pictorial History Of Florida.

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Keynes And The Market: The Sims 2 Seasons: Newnes Dictionary Of Electronics. Beyond The March Of Death: The Butchers Of London: A Novel Of Cornwall, Interdisciplinary Approaches To Iroquoian Studies. Agenda For Action, Wizards Presents Races And Classes. Prelude To Americas Albatross.

Reading The Latter Prophets: Toward A New Canonical Criticism. The Comedy Of Redemption: Natural And Artificial Intelligence: Conservation Of Energy Resources. On The Flip Side: A Fab Life Novel. A Vegan Vegetarian Cookbook. Science, Engineering, And Technology. Margaret Of Scotland And Hungary. Fading Voices And Haunting Memories: Drugs, Immigration, And Homeland Security.

What Is Comparative Literature: An International Literature Review. The Wedding Planners Daughter. Converting The Cold War Economy: Judicial Review Of Administrative Action. Conns Current Therapy The Body In Question. Artists Consider Masculinity In Sports. Whisper Of The Muse: Froggy Goes To School. Physical Disability And Social Policy. The Lymphocyte In Evolution: The Impact Of Information Research. The Politics Of Ethnic Consciousness. Java 2 Performance And Idiom Guide. Dragon Bones And Dinosaur Eggs: Private Eye selected Work From Digital Parcel Mapping Handbook: Portrait Of The Lothians.

Colombias Military And Brazils Monarchy: Fashion Illustration For Designers. Frontier In Functional Manufacturing Technologies: Frontiers Of Nuclear Medicine: What More Philosophers Think. Global Tectonics And Earthquake Risk. Time, Temporality, And Imperial Transition: Recent Advances In Depression. Emotions And Social Movements. Too Much To Ask: The Menu For Choice. Amis, African American Radical: Historical Dictionary Of Malaysia.

Bertie Wooster Sees It Through. Mystery Creatures Of The Jungle. Raising Up A Little Girl. Set For A King: Adult Education And Community Action: Purr More, Hiss Less: The Access To Information Act: Moment Formation In Solids. Not By Reason Alone: The Mayor Of Castro Street: The Peanuts Grand Piano Book. Report From Hui Whakatipu: Whaiora Marae, Otara, Auckland December Universities And Their Leadership. Film In South East Asia: Butterfly In The Typewriter: Norwegians On The Prairie: Citizenship In A Global Age: Portrait Of A Radical.

Shakespeare And The Theatrical Event. Solution Focused Group Therapy: Responsible Managers Get Results: Petroleum Economics And Engineering: Everest, The West Ridge. Introduction To Operations Research. Phonology In English Language Teaching: The Deep-sea Adventure Series. Women And Science Fiction. The Tradition Of Indian Architecture: Continuity, Controversy, And Change Since The Emergence Of Language. Microelectronics In British Industry: The Pattern Of Change.

The Fiction Of Maurice Gee. An Outline Of Swine Diseases: Working Lives In Catering. For Medium Voice And Piano. Culture, Coordination, And Common Knowledge. Rural Studies In KwaZulu: Music Therapy In Palliative Care: Plutonium And Highly Enriched Uranium, World Inventories, Capabilities, And Policies. The Sothebys Wine Encyclopedia. Illustrated Incumbered Estates, Ireland, Empire And The Bomb: The Michelle Kwan Story.

Sam Who Never Forgets. Push Comes To Shove: New Images Of Aggressive Women. Between Raphael And Galileo: A Guide For Naturalization. The Poetry Of The Forties. Inequality, Crime, And Social Control. Psychological And Biological Perspectives. Lending, Capital Transfers, And Institutions. The Complete Book Of Everlastings: Rethinking The Urban Agenda: The Encyclopaedia Of Guilty Pleasures: Women Who Make Movies. Commerce Before Capitalism In Europe, American Literature; Themes And Writers.

After Those Fifty Years: Memoirs Of The Birkenau Boys. Epidemiology, Risk Factors, And Treatment. Introduction To Differential Equations. Students And Politics In India: Articulating New Russian Culture. The Quest For Origins: Design Of Liquid-retaining Concrete Structures.

California Real Estate Exam Guide. The Stones Of Muncaster Cathedral: Two Stories Of The Supernatural. The Proposed Fissile-material Production Cutoff: Opportunities For Trade And Aid. Historic Manhattan Apartment Houses. Essays From The Gregynog Conference. The Teacher At Work. The Complete Book Of Bananas. The Endangered Mammals Of Colorado. Autobiography Of Benjamin Alfred Wetherill. Eilhart Von Oberges Tristrant.

Sealed With A Kiss. Computers From First Principles. Volkswagen Jetta Service Manual , , , 1. Tennis, Beyond The Inner Game. The Womens Yellow Pages: Original Sourcebook For Women. The East Asian Currency Crisis. The Challenge Of Religion: Perspectives On General System Theory: Everyday Life In Elizabethan London. The Man Who Counted: A Collection Of Mathematical Adventures. Melbourne, Australia, August If Wishes Were Horses. But Inside Im Screaming. A Lollygag Of Limericks. Beyond Chance And Necessity: History Of The American Economy.

All Her Fathers Guns: Britain And European Integration, The Soul Knows No Bars: Windsor In Old Photographs. The House Of Commons, The Stories Julian Tells. The Relay Of Gazes: Seasoned In The South: Recipes Full Of Hospitality. Neighborhood Organizations And Community Development: Pediatric Oral And Maxillofacial Surgery. Theory In Landscape Architecture: The Discovery Of Australia: Creative Imitation And Latin Literature. An Introduction To Literary Stylistics. Queer Fictions Of The Past: History, Culture, And Difference.

Roman Frontier Studies, Anglo-Saxons And The North: Constitutions Of The World. Gender Equality Initiatives In Education. The Cambridge Companion To Atheism. Interfacing Microprocessors In Hydraulic Systems. The Civil War Begins. The Dark Side Of History: Power, Gender, And Curriculum. The Adventures Of Tom Sawyer. Una Storia Di Successi. The Stories Of Krikor Zohrab. Letters From The nd: The Jewish Guide To Consolation. Song Of The Waterfall: Die Herinneringe Van J. A Handbook Of Economic Indicators.

The South Platte Trail. One Side By Himself: Standard Catalog Of American Cars, The March Of Folly: From Troy To Vietnam. Globalization And Social Change: Literary Theory At Work: American Newspapers In The s. When Spirituality Isnt Enough: Principles Of Visual Perception. Below The Green Pond. The Secession Movement In Virginia, Assessing Lake Erie Protected Areas: Chirurgie Im Wandel Der Zeit, James Joyces Italian Connection: The Poetics Of The Word. Introduction To Linear Algebra. Standing Up To The Future: The Used Car Game: A Sociology Of The Bargain. Perspectives On An Economic Future: Forms, Reforms, And Evaluations.

Hearing Before The Subcommittee O. System Structure And Control As I Lay Dying: Soldiers Of The Queen: War In The Soudan. Accents For The Country Home. Here At The New Yorker. The Many And The One: Handbook Of Solution-focused Brief Therapy. Natural Rubber And The Synthetics. Poachers, Politics And Other Peoples. Reading Science Through Science Fiction. Reginald Lewiss Down East. Diseases Of The Hematopoietic System: Telecommunications, Warkworth Area, From Business, Religion, And Ethics: The Global Forest Sector: Pauls Epistle To The Romans: The Poetry Of Ernest Dowson.

Real-world Lessons In Revitalizing Corporations. The Primary Care Of Families. The Day Of The Locust.

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Understanding Broadcast And Cable Finance: The Lonely Planet Story. Easter Vigil And Other Poems. A Reconsideration Of Classical Yoga. The Biggest Clean-up In History. Public Finance Management Act: Prime Time Life Skills. Mathematics For Liberal Arts Majors. Automobile Advertising Of The s. Contemporary Voices From The Midwest. A Theology For Christian Education.

Big Beaver And District. At Risk In America: Capacity Management And Scheduling. Schools And The Changing World: Struggling Toward The Future. The World Of King Arthur. Nonparametric And Robust Inference. Products Liability In A Nutshell. Dating New Zealand Business Cycles. The Glasgow Cookery Book. Butterworths Annual European Review. Childhood In Generational Perspective. The New Age Community Guidebook: Alternative Choices In Lifestyles. The Man Who Couldnt Wait.

The Autobiography Of Malcolm X. The Art Of Microwave Cooking. Simply-- Gluten-free Quick Meals: The Social Contract ; And, Discourses. Ngay Long Tri, em L T: The Design And Application. A Guide To Judicial Review. Innervation Of The Gut: Ensayos Puertorriquenos De Hoy.

13 Secret Retirement Killers by Marc Langva on Apple Books

Psychological Services For Primary Schools. The King Of America: Cummings, The Critical Reception. Cost And Management Accounting. Voices Of United Church Women, At Twilight In The Country: Memoirs Of A Canadian Nationalist. Histoire Du Mouvement Ouvrier. Reading And Related Skills: The Four Days Battle Of Et Appartement Le Corbusier: Apartment Block 24 N.

And Le Corbusiers Home. Bombers, To s. Africa And The United States: Family Life And Youth Offending: Jerry Garcias Amazing Grace. New Hampshire Evidence Manual. A Cat In The Wings: An Alice Nestleton Mystery. The Saving Work Of Christ: Sermons By Saint Gregory Palamas. Finding Meaning In Digital Imagery. Growth, Profitability And Valuation: Women In Traditional China: Ancient Times To Modern Reform. The Signs Of The Times: A Natural History Detective Story. Introduction To Problem Solving: Fundamentals Of Feline Faith.

A Southern Herp Anthology: Literature By Tony Jewell.

Anarchists in the Spanish Civil War: v. 1

Biosorption Of Heavy Metals. Auditions Are Just The Beginning: A Career Guide To Orchestras. The Alabama Heritage Cookbook: A Complete Menu Cookbook. Neither Left Nor Right: Differentiable Optimization And Equation Solving: Mans Search For Ultimate Meaning. Schizophrenia, The Epigenetic Puzzle. Theoretical Insights Into Human Prehistory. The Counterculture Begins, Ascona, Retire In A Weekend!: Cooking With Jody Adams. The War Of Soviet Commercial And Maritime Arbitration. Current Problems In Perspective.

A Holistic Approach to Managing Equity Compensation

A Life Of Passionate Conviction. A Professional Programmers Guide. A Letter To His Majesty: The Television Revolution In Asia. A Soul Under Siege: Recent Progress In Perception: Readings From Scientific American. Adams On Criminal Law. An Illustrated History Of Nauvoo. The New Jewish Holiday Cookbook: Fraudulent Conveyances And Preferences.

Popular Culture, Geopolitics, And Identity. Western Canadian Research In Geography: The Culture Of Commemoration. Graphic Design Since The Nuclear Fuel Cycle: Glycosyl Hydrolases For Biomass Conversion. Nicholas Of Cusas Early Sermons, Meeting New Challenges, Seeking Opportunity. Supervision Of Police Personnel. Artworks For Elementary Teachers: Developing Artistic And Perceptual Awareness. Crime Policy In America: Laws, Institutions, And Programs.

Campaigns, Units, And Stations, Postmodern War And Peace. The Transcendental Boiled Dinner. The Making Of Sacagawea: Maritime Personal Injury Litigation: Water Resources Management In Asia. Ada, Countess Of Lovelace: A Handbook For Nurses. The Art Of Alex Colville. Cellular And Molecular Immunology. The Art Of Allusion. Ohio Securities Law And Practice. The Travellers Dictionary Of Quotation: Who Said What, About Where. Ethnicity And Nationalism In Africa: Constructivist Reflections And Contemporary Politics.

The Mystery Of Hearsay. Between Ally And Partner: Long And Winding Roads: Creativity Across The Curriculum. The Conduct Of Life: A Manual Of Paedodontics. The Trace Elements And Man: Some Positive And Negative Aspects. Kate Chase And William Sprague: John Miltons Paradise Lost: A Chronicle Of Early Failure. The Transformative Power Of Faith: A Narrative Approach To Conversion. Un Jeune Homme Seul. Implications, Challenges And Mitigation Measures. Air Force Manpower Requirements. The Rogue I Remember. Performers Intellectual Property Rights: Socialism In A Cold Climate.

The Poetry Of William Wordsworth. Die Bibel Als Kanon: Sailors To The End: Messages From The Wild: Designing And Making Stage Costumes. Electronics Industry Of Japan, I Was A Teenage Fascist. Native Paths To Volunteer Trails: An Introduction To Quantitative Techniques. Succeeding In Canadas New Economy. Revitalizing New York Citys Economy: Ethnic Routes To Becoming American: Crome, Cotman And Their Followers.

Black Colleges In America: Essays In Honour Of G. The Munich Air Disaster. The Transformation Of Greece, B. The Watsons Go To Birmingham The Evolution Of Biology. Disorders Of Hair Growth: Explorations In Ecclesiology And Ethnography. A Research And Production Sourcebook. Treason In The Blood: A Paper Read Before. Oil, Power, And Principle: A Social Justice Perspective. A Prevention And Management Guide. Qualitative Methods In Management Research.

John Wrights Indian Summers. The Ethical Dimension Of Pschoanalysis: Exploring New Pathways For Change. Stochastic Geometry And Its Applications. An Experiment In Teacher Education. A Life In The Theatre. Barbecuing The Weber Covered Way. The Articles Of The Faith: Oral And Maxillofacial Radiology: Secularism, Islam And Modernity: Selected Essays Of Alam Khundmiri. The Village Of Waiting. Canada In World Affairs: Stars In Our Eyes: Making Men In Ghana. The World Food Crisis. Collecting Original Cartoon Art. Their Attitudes, Opinions, An.

Atlas Of Coronary Artery Disease. Sexy Shorts For Christmas: Given how easy it is for most people to experience lifestyle inflation that eats up income growth, a client may find themselves 5- or years down the road significantly off track from their goal, and feeling like the only options they have to get back on track are to make some very painful cuts to their lifestyle. Conversely, an older client who continues to maximize their k contribution even though their real income is falling may be saving excessively.

Ultimately, there is an inherent trade-off between more accurate and more practical planning. Especially given that the assumption of constant real earnings growth can so drastically misstate the earnings trajectory of both younger workers and those nearing retirement! You and everybody you know. I think I can best bring home this point by sharing a little story.

At first glance, you might think that a guy in that kind of situation would be in great shape. He certainly felt he had nothing to worry about. On the other hand, when I first started my career I met a garbage man who could retire whenever he wanted. He started putting money away for his future since he first climbed on the back of that smelly truck.

But the point I want to illustrate here is that Mr. G started planning as soon as he began his career and Mr. But you have to ask yourself why he had that spending problem. So, in answer to the question, who should plan their retirement and when should they start? The answer is you and now. For most of us, retirement planning means estimating what the future is going to look like. Even if you are retired now, you still need to get a sense of what your retirement will cost down the road.

Not only are they currently unknown, they are unknowable. How long will you live? How much will it cost you to live? What about health expenses routine and otherwise? Where will you live? How long will you work? How much will your investments grow? These are all things which are impossible to be sure of. For many people, this is as far as it goes. Their solution is to do their best and hope for a good outcome a very dangerous strategy. What I suggest instead is to take a scientific approach and create a plan which may not be perfect but is far better than having no plan at all.

Here is my three-part answer:. Estimate the future based on what you know today. Revise as the situation changes. Will you be able to retire without going broke? What do you have to do today in order to improve your situation? In order to answer these three big questions, we have to first have to get clear on your priorities and then build your plan around it. And the big priority trade-off is time vs money. In other words, is it more important to you to retire sooner and are you willing to save more and live on less when you retire or is it more important for you to live and retire in comfort and are you willing to work longer as a result?

Nobody knows what the future holds. Nobody knows how long their future stretches out. You can decide if you want to travel, when, where and how much. Does it get any better than that? Sure it takes a little time and maybe includes changing some savings, spending and investing behaviors. But in my experience, this is a very small price to pay in exchange for the freedom most people feel after taking back control over their financial life today and in the future. What follows is a step-by-step guide to help have a worry-free retirement.

I urge you to take your time with this guide. Read it thoroughly and go this each step one at a time. If you are in a relationship, please include your life partner in this journey. I guarantee you find it a game changer. Before you embark on a journey, you need to know where you are going. Not only that, you need to know when you want to arrive there and in what condition. The same criteria applies to your financial future. The question is, when and what will it look like.

Be realistic, but dream a little.

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We can always change things later on. But unless you have very unusual circumstances, it would be unrealistic for someone with that kind of current income now to plan for a retirement with twice that amount. Again, your situation is unique. So like I said; dream, but be reasonable. It would be great if you only had one financial goal but that is probably not the case. And your non-retirement goals impact your retirement goals because they all cost money.

If you are like most people I know, you have multiple goals like investing in your home, maybe educating your children, travel, health care needs and yes….. As I said, all these goals cost money and compete with one another for your attention and money. After you do that, it will be time for you to prioritize each goal. Just take the current cost of each goal and inflate it. Now all you have to do is use the same online calculator to figure out how much money you need to save each month in order to hit that goal. See how easy that was? Go back and do this exercise for all your big goals.

My suggestion is to create a little spreadsheet that summarizes all of your most important goals, when you want to achieve them, how much they will cost, how much you need to set aside each month in order to achieve the goals, how much you expect to earn on your savings etc. You may not know exactly what your goal will cost but estimate it anyway.

Of course the further away the goal is, the more difficult this will be. For those goals which are far into the future, I suggest you take the current cost of the goal and inflate it. Use a plug number for now and once we work up your actual number, you can come back and adjust. The further away your goal, the more difficult it is to estimate the return. You can read more about estimating returns and matching up investments to financial goals in this guide.

You can use an online calculator to determine this number once you estimate the rate of return, starting amount already saved, ultimate amount needed and time frame. It is a lot of cabbage. You have a lot of options. Rather than retiring in 20 years, would you consider working 25? Other options include looking for ways to earn extra income which would enable you to save more. The possibilities are endless. So over time, your savings needs fall. It calls for a higher savings rate when people are least able to do so. Usually people are able to save more as they get older and climb the ladder of success in their professions.

So the model above piles on the pressure and in many cases, for no good reason. A more appropriate approach for many people is to focus your savings towards only 2 goals at a time rather than all of them. One being retirement and the other being the goal that you need to achieve soonest. You save for your retirement almost always unless you have high-cost debt — which is discussed below because you want to take advantage of the tax benefits, potential matching contributions and years of tax-deferred growth.

Let me show you what the new spreadsheet looks like:. You can see that it takes 2 years to save up enough for your car red arrow — exactly as planned. But starting two years from now, it takes 44 months to save enough for the down payment for the house — which is 68 months from now blue arrow instead of the 60 months you planned for. In other words, it takes you about 8 months longer to save up for the house down-payment than you originally planned. Either way, once you are done with the car and house, focus all that extra cash towards the education cost.

The good news is you achieve that goal more than 5 years before you need the money green arrow — 99 months from now rather than the planned months. But as I said, most people I meet are able to save more as they mature in their jobs. Over time saving gets easier. Identify and dollarize your goals. Apply all you have towards the nearest goal while maxing out retirement contributions at the same time. If you have student loans and the rates are reasonable, you may want to continue paying those as a normal expense and still use the method I described above to motor your way towards your other financial goals.

If you carry high-cost consumer debt , you may want to suspend all savings — including retirement savings if the situation is dire — and get that debt paid off. The higher the interest you pay, the more important this step is. This is a problem many people face and there are 4 solutions to this:. Find a lower-cost way to achieve the goal. Give yourself more time to achieve the goal.

Find a way to save more money by either earning more, spending less or both. A combination of all three of the above. Your successful retirement is built on three pillars of your financial life; spending, income and assets. Most people think saving and investing are the most important retirement concerns but spending is far more important. What makes it frustrating is that it is very difficult to know what it will cost you to live once you retire. If you plan to retire 10 or more years from now, how can you possibly know what you will be spending at that time? So, granted, this is an exercise in approximations — not certainty.

You can and should re-examine and refine your estimates over the years ahead. Things change — like traffic. You need to update your path from time to time based on more current data. Track your current spending. Adjust for likely spending shifts during retirement. Use an online calculator to adjust for inflation.

Monitor and adjust over the years. Some people recommend that you track every penny you spend to get an accurate measure of what it costs you to live. You see, your bank statement summarizes what you spend each month. My suggestion is to track that number each month and compute the trailing month average to get a good sense of what you spend each month.

The reason why I like to use a month average is because some months are more costly than others. You might have to pay your insurance in January and July as well as your property tax. So the monthly costs get lumpy. Ask yourself the following questions:. Will you travel more? How much will you spend? See dollarizing your goals above b. Will your mortgage be paid off? Will you still support your kids?

If not, how much will that save you? Make it easy on yourself and put together a spreadsheet that brings all this together. Yours might look something like this:. Retirement is a very long-term proposition so inflation is a crucial element to figure in. Just as a refresher, inflation is when the price of a good or service rises over time without the good or service being enhanced or improved. All you need to understand is that generally, under most cases, prices generally rise over time. It stands to reason therefore that if you are dealing with a long period of time, your cost of living will probably increase in a meaningful way.

In the financial plans that I run, I use 2. This number is higher than current inflation but lower than 3. Just remember to update your plan every 2 years at least and use the appropriate inflation number at that time. But after a few years you will have real historical data. Sure there will still be lots of estimates in your plan.

But the more real history you have, the more accurate your projections can be. In order to know what is most important to do today, we have to make guesses about the future. The alternative is to do no planning what-so-ever and that is far worse than having a model based on unknowns. When it comes to retirement date, start off by planning to retire when you want to retire. After you create your plan, you may learn that this is impossible or you have to give up more lifestyle to do that than you are prepared to.

If so, you can always change this input and re-run your plan to see what happens if you delay retirement. But we have to start somewhere. In terms of longevity, you are right that nobody knows how long they are going to live. In my opinion, the best idea is to rely on the government to tell you. I admit that it is very difficult to guesstimate what your health costs are going to be over your life. For one, the costs seem to go up all the time.

And for another thing, the healthcare system in the United States is in a state of flux. But if you are lucky enough to have a pension lined up, you could be in fantastic shape. I met with a woman who was greatly concerned about her retirement because she had accumulated so little in savings. But when she showed me her pension plan, I told her not to worry. So your task now is to obtain a recent pension benefit statement and mark up your calendar to get an updated statement every year.

The same thing goes for Social Security. If you know that you are going to work part-time after work, by all means plus those numbers in as well. Be conservative but realistic and do the best you can to input that information. Many people rely on bonds, preferred stock, blue chip stocks and rental real estate to provide retirement income. There is nothing wrong with this in principal. And if you own any of these types of investments you should list them and project the income these will generate for you once you retire using the online calculators mentioned above.

You can and probably should consider tapping into equity growth to provide retirement income as well. Before I can explain this fully, we need to revisit the idea of investment risk. This is especially important when discussing retirement income planning. My experience tells me that once people retire or near retirement, they become more and more risk averse. This makes sense to me. You have fewer years to make up for big losses as you get older. And your existing portfolio is what makes at least in part your retirement possible. I understand this sentiment but we need to widen our discussion a bit.

If you go broke in your golden years, the only thing golden about them will be where you work — the Golden Arches. And probably not you. The reason is the principal is guaranteed. That means if you own an uninsured bond and the company that borrowed your money goes belly up, you could easily lose all your dough and your income. And keep in mind that the income generated by CDs and bonds is usually fixed. And remember, retirement is hopefully a long-term deal. In most cases, CDs pay little more than inflation. And when you consider both inflation and taxes, most CD owners end up going backwards.

Bonds pay more interest than CDs usually but because they are not insured, they carry more risk. If the company behind the bonds goes kerplunk, so does your money. Also, if you need to cash in your bonds before they mature, you could receive more or less than you originally invested. Preferred stocks are very similar to bonds except they usually pay a bit more interest and they usually carry more risk. They have greater risk because in case of bankruptcy, the preferred share holders get paid only after the government, employees, creditors and bond holders get paid what they are owed.

Usually, that means preferred share holders get left with nothing if the company goes belly up. The prices of preferred shares are usually quite stable. Real estate can be a fantastic retirement income investment. It provides the potential for growth and the possibility to increase rents to keep up or beat inflation. The chief drawback is that it requires work and expertise.

When you own real estate, you own a hands-on business.

Separate Account Management

Of course you can always hire a property manager. However, in my experience, having a property manager is rarely a full solution. You can use equity growth to create retirement income. Invest in a balanced portfolio. There was an exhaustive study done by 3 professors of finance at Trinity University. These professors wanted to discover what was the best way to invest to create the most income over different periods of time without running out of money.

This study was done in and updated several times since. The most important update was made by Professor Wade Pfau. When it comes to retirement, you want security. Keep in mind that the shorter your withdrawal period, the higher your withdrawal rate could have been. Of course there is no way to prove that this will work. Flawed as it may be, what else is there? This progression continues nicely until It took another 8 years until the income tops what you were making 16 years earlier back in Inconvenient to say the least.

I love this exhibit because it illustrates the pros and cons of using this strategy so well. First, you can see that the income is volatile. Indeed, the potential for big drops in income is the major flaw with this approach. You can put all excess earnings in an income account and only draw on it when the market falls. That can help even out your retirement income. Using this approach, you will never run out of money. This is safer than taking out a fixed amount — especially during those years when the market does poorly.

Even though the income can be volatile at times using this method, investors received a heck of a lot more than they would have had they invested for a fixed return.

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Using any online calculator you can see that this hypothetical investment grew your earnings by 5. Keep in mind that there are a few limitations with this exhibit. And third, the numbers I present above are for an all-growth portfolio and not the balanced one I suggested. None-the-less, this gives you a good look at what this type of approach could be like — during good and bad years.



And if you are like me, you probably like the idea. You should only take as much risk as you absolutely have to in order to reach your goals. That means if you have plenty of income coming from other sources like pensions or other sources, why take any risk at all? The only reason a person in this situation should ever take on investment risk is if they want to grow their assets for their beneficiaries.

On the other hand, if you are going to rely on your investments to provide retirement income, it makes sense to consider using equity for at least part of your portfolio as explained above. How much to invest in fixed income vs equity depends on your time frame and withdrawal rate also, explained above. A combination of the three. That is why I am such a believer in running projections like these for myself and my clients. And this is why I want you to either run your own projections or hire a qualified professional to do it for you — and update the plan every couple of years.

I know this may seem drastic but consider it. Real estate is great while you are young because it provides tax benefits, forced savings, potential growth and stability. But when you retire, your needs change. You need income primarily and it makes no sense to keep all that equity which translates into potential income locked up in your walls.

When you consider all the costs of owning a home , you might go all the way and become a renter instead depending on the market you live in and your unique situation. There are always one-off events that significantly impact your financial plan for the better or worse. These include things like moving once you retire, selling the house and either downsizing or renting, inheritance, helping the kids etc. In addition, once people retire, they have different spending patterns. On the other hand, older retirees often need to spend more on health care and assistance.

You can still use the methods I explained above to calculate these costs but it is more complicated. You have all the information you need in order to build and execute a successful retirement plan. My experience tells me that the people who succeed at retirement planning have a few more crucial ingredients. The most important of these is of course commitment and action. It takes time and hard work to hammer out a good plan. Without commitment, many people throw in the towel and give up. Tell someone else what you are doing and commit to them.

Ask them to hold you accountable on a timeline and have regularly scheduled meetings to make sure you are still on track. Next, expect to hit a few road bumps along the way. When it comes to retirement planning, there are so many unknowns and unknowables, that it is impossible to lay out a plan in stone. You are going to have to be flexible and roll with the punches once in awhile. I know you can do this. Take action — any action — that moves you towards having an effective retirement plan. Certainly far too short to waste time worrying when all it takes is a little elbow grease to put your plan in place.

I believe in you. Skip to content Category: Executive Summary With the rise of plans and increased focus amongst parents on saving for college, financial advisors have increasingly included college expense planning as a part of the comprehensive financial planning process for clients. No matter what your will says, this is where the money will be going.

Insurance policies allow for both a primary beneficiary and a contingent beneficiary which is highly recommended to be filled out. As your life progresses and your family situation changes with new children or a divorce, it is important to update these beneficiaries. Picking the Wrong Amount of Insurance — Insurance can generally be rented or owned, with term insurance being the insurance that you rent. The main issue is that most families often only buy enough term life insurance to pay off their debts.

You should be doing both a needs analysis and a human life value analysis to figure out exactly how much life insurance you need. What will the cost of college be for your children? Will you pay off the mortgage? All of these are important questions? People Think They Will Be Healthy Forever — Most families only buy term insurance, but you should have a strong consideration to get some level of permanent insurance.

Even though many term insurance policies are guaranteed renewable and non-cancelable, the cost for the new premium when your term renews might be incredibly expensive. Permanent insurance comes in all sorts of flavors, including whole life insurance, universal life insurance, indexed universal life insurance, and variable universal life insurance. If you are looking to have insurance forever and build up money for college education, for example, check out this great video. This means if you change jobs or move to a new employer, the new employer may not have the same level of coverage you had at your old employer, and it is possible your health had changed since you joined your employer.

It is important to consider some level of term or permanent protection on your own. Remember, the longer you wait, the more costly the proposition will be down the road. People often under-insure themselves when they are younger by not factoring in the silent killer of inflation. Make sure as you get older or when you think about how you structure your insurance policies, you consider this factor in your overall financial plan. The questions were and are very legitimate ones, namely: Out of k followers I am amazed how many are postive they can win and how many are nit picking victims.

Safe Savings Rates With Real-World Income Growth Executive Summary When financial planners run retirement projections for clients, the most common assumption is to assume some type of constant inflation adjusted earnings growth i. Income Growth Assumptions For Retirement Savers When advisors run a financial plan for clients, most software will default to assuming constant inflation-adjusted earnings growth i. The chart below shows earnings trajectories over time, segmented by lifetime earnings percentiles: Safe Savings Rates With Real-World Wage Earnings Growth One of the key issues to recognize given that wages have different growth profiles at different career stages is that the typical advice to save a certain percentage of your income for retirement may be substantially impacted by that career stage.

Safe Savings Rates With Differing Earnings Curves In order to isolate the effect of assuming a different growth rate on earnings, the next set of analyses utilized the same assumptions as above, with the exception of examining different safe savings rates based on earnings curves ranging from the 10 th to 90 th percentile of lifetime earnings. So, if we keep all of the prior assumptions consistent but assume an individual will start saving at age 35 and 45 respectively, the safe savings rates results are as follows assuming age-based earnings growth based on the actual later starting age: