Let’s Talk About Retirement

Amy Carter asked:


A retirement isn’t just the end of a career; it’s also the beginning of a new phase of the retiree’s. No more traffic jams on the way to work and no more late hours at the office make this one of the best times of the retiree’s life. Celebrate the new beginning, not the end and you’re set up for a great retirement party.

Invitations

Retirement party invitations can range from the stoic corporate invitations to fun and whimsical, depending on your and the guests of honor’s personal tastes. One thing is for sure; this is a momentous milestone and a retirement invitation should be nothing short of fantastic. There won’t be another celebration like this, so spare no expense when it comes to retirement invitations.

Themes

Your corporate retirement party is meant to honor your years of service with the company. From the corporate invitations to the speeches, you can count on a pretty tame evening

If you’re planning a social retirement party with family and friends, you can inject a little more fun and personality into the party. Pick a theme that is an interest or hobby of the retiree. If the guest of honor is planning on spending their days on the links, opt for a golf theme. If the retiree loves to travel and will spend their retirement jet setting, then an international party theme is in order. There are limitless options, just ask the guest of honor for some hints.

For a true twist on retirement themes pick ‘baby announcements’ for retirement invitations. Since this is a new beginning, treating the retiree like a new ‘person’ is a funny and unique way to celebrate their retirement. Too often, retirement is seen as an ‘end’ so this can be a great way to mark the new beginning for retiree and guests.

Games and activities

Highlight the great career and accomplishments of the retiree with trivia and photo games. ‘Career trivia,’ guessing dates and years, names of co-workers, etc. can be a fun trip down memory lance. Or gather some photos and see if you can get guests to guess the year. Everyone loves to have a look at old photos and guessing the year can be a fun way to get everyone involved.

Another fun retirement activity is a roast. A roast consists of guests gently poking fun at the guest of honor as a way of both honoring their achievement and having a laugh. While this can be funny and endearing if done right, it demands that both guests and retiree have a great sense of humor. A roast probably won’t work for a corporate event, but can be great fun for friends and family.

‘Over the hill’ games can be fun, too. But just make sure everyone remembers to bring their sense of humor. If you can keep the ribbing on the light side, there won’t be any hurt feelings.

Take great care to make your next retirement a memorable and special occasion. This milestone only comes once in a lifetime and should be treated as a great cause for celebration. And keep in mind, retirement is not the end, but a new beginning, too.

Check out MyExpression.com for great retirement party invitations. You’ll also find great party invitations



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spidersam408 asked:


What age and what are the conditions for retirement? Can you work when you are retired for money? What are the rules for the state of California?

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Esther P asked:


I’m 55 and have an invested retirement of $75,000 with the County I’ve worked for - for 23 years. How can I invest in the next 10 years to get an even bigger retirement? I know I procratinated and now I’m playing catch up. Please help.

Ready to Retire at 65.

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James D asked:


Can you describe a situation where this would be important. Thank you for your help with understanding this kind of retirement plan.

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David asked:


Working towards joining. I’m 21 and married. No kids.

Just curious, I’ve been hearing and heard stories from veterans that retirement pay isn’t that great and these days don’t hardly even cover normal living expenses. I’m sure rank and such would make it all vary but I’m mainly looking for someone who is already retired, weather you have been for a while or just recently. Is the retirement a descent living check or do you have to look forward to getting a civilian job after you retire from service to afford to live?

After basic 20 year service

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Barbara Morris, R.Ph. asked:


A December 1, 2008 online The Wall Street Journal article, “Retiree Havens Turn Younger to Combat the Housing Bust” reveals that retirement communities are feeling the pressure of the collapsing economy. To deal with vacancies and unsold homes, some communities, to the dismay of residents, are considering age desegregation — lowering the age of entry to 45 in order to attract new occupants. Resident displeasure is understandable because when you choose to move into a quiet structured community, you don’t want families with kids or teenagers running around disturbing your lifestyle.

Having said that . . .

I have made no effort to conceal my disdain for retirement communities. Created by entrepreneurial home builders, they are attractive artificial contrivances designed to appeal to the the desire of people who prefer peace, quiet and an upscale place to spend the end of life. Basically, they are a lure for old people to to play and decay. But that’s okay. We still have the right to live how and where we choose and I am thankful for that.

Did I say they are places to decay? How can I say that! Retirement communities abound with things to do. Golf, basket weaving, hiking, swimming, bingo, dancing, scrap booking, biking. Even college courses for those who want to exercise what’s left of their brains. You name it — most retirement communities have every activity you could possibly ask for. And perhaps even an unexpected “bonus.” For example, “The Villages” in Florida would have you believe it’s Heaven on earth. What isn’t mentioned in inviting TV ads is the existence of rampant sexually transmitted diseases in the community. See “STDs Running Rampant In Retirement Community” To be fair, given what’s happening in the culture as a whole, one can only say, “so what else is new.”

What is unfortunate is that so many people get ****** into the lifestyle without realizing what they are getting into, and it’s easy to understand why people do it. When you’ve worked all your adult life and you are worn out at 65 or sooner, a socially sanctioned retirement community appeals to your leisure- loving human nature.

Right about now you are probably saying that only a cranky old grouch would say anything negative about retirement communities. Okay, I hear you — chastisement accepted. But it doesn’t change my views about retirement communities and here is why:

I don’t care who you are — nobody wants to get old and suffer premature decline. Anyone with a brain larger than a peach pit realizes you can’t be young for ever, (nor would most people wish to be young forever) but you can be ageless. You can be strong, mentally and physically. You can be independent. You can be an asset to yourself and to others. You achieve that state of nirvana not by living a sheltered decline oriented lifestyle, but by staying in the real world, being productive, and dealing with all kinds of people with real world issues.

I have said it repeatedly: We learn from those we associate with most closely. We adopt each other’s beliefs, attitudes and behaviors. When you surround yourself with and interact with people primarily your own age and retirement oriented circumstances, you all but negate your ability to grow.

Traditional retirement, (except in certain health related circumstances) is a crock. We are made for work, like it or not. I don’t like the cliché “use it or lose it” but it’s true. Humans do best when they are engaged in something that has value not just for themselves, but for others.

Before the creation of Social Security in the 1930s, people didn’t retire. At that time, people didn’t live much longer than age 65 so the establishment of a retirement age of 65 made a modicum of sense. But now, retirement at 65 makes no sense at all because the lifespan has increased by 30 years in the past century. Yet people still retire at age 65 and usually opt into the traditional, decline oriented senior lifestyle. And that often includes moving into a retirement community where youth is an illusion. You can do all the “youthful” activities you like, but when you do them with the same-age people all the time, personalities and preferences meld into the lowest common denominator.

I feel sorry for people who moved into a retirement community for peace, quiet and camaraderie of other old people, and are now facing the specter of young faces, activities and noises. It’s too bad that financial realities are breaking down the age barrier to these communities. But I can’t help but wonder: What 45 year old in his or her right mind would want to move into a retirement community? I imagine the incentive would have to be the financial deal of a lifetime, like getting a house for free. And maybe that is what it will come to. The way things are going now, the government will own everything and we’ll each be given according to our needs. Now, where did I hear that idea before?



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p asked:


My employer doesn not offer 401K. I also have student loan debt and credit cards that I’m working on payingn down. Should I pay those off before worrying about investing? Is an IRA the best choice for me? I am almost 30 and feel I should start worrying about my retirement.

Kansieo.com

bnlrta asked:


I’m a 25 year old female who has not even came close to saving for retirement….. I have just recently got my credit cards paid off so fortunately i have a few extra dollars to save. I would like to know the best way to increase my money in the long run?

Kansieo.com

Elijah James asked:


You are middle aged, and retirement seems far away for the moment, but in this current economical crisis, will there be a future for your retirement?  This and other concerns are starting to settle in the minds of middle-aged Americans today.  With Social Security in the balance, banks being closed, and people losing their 401K accounts, it’s time to start looking much deeper ahead than we first realized.  Using a Basic Retirement Calculator can give an idea of what you need to do today for a comfortable retirement tomorrow.

Living on a budget is what many Americans have to endure these days.  Prices are going up on the staple of existence.  Food, mortgages, and gasoline have all hit high marks, with no indication that it will get better.  Businesses are closing down, and many people who thought they were secure are now losing their homes and pensions.  Frightening as this all sounds, there is a way to secure at least enough funds to get us through our retirement years.

The next step is to use the basic retirement calculator for what is needed now for retirement later.  There is a simple method of calculating a goal and current income.  For example, if you would like to have at least a $45,000 annual retirement income, and you project no house payments by that time, then you have to look at your present income, monthly contributions, payments and tax for the projected retirement age.  If you already have IRA or 401K accounts that are secure, then you will have even more monthly payments upon retirement.  Savings and brokerages are also put into the calculation under current retirement assets.  Any accounts that are tax-advantaged give much needed leverage when considering retirement income.

Consider any pensions and, of course, Social Security payments that will be given at retirement age.  Expected inflation during retirement is another issue to consider.  Projecting this number from historical rate increases gives an idea for the future, but not completely reliable.  Calculating your current retirement assets can give an idea of what you will have after retirement from your accounts.  A rate of return for any of your portfolios that are high risk/high return can be toned down once retirement is on the horizon.  That way you have them to draw on when needed without fear of loss.

Sale of real estate or any other one-time income should also be entered into the basic retirement calculator.  This will affect your monthly amount, but could also lend a hand as being a much-needed emergency nest egg.  An after retirement job may be necessary to supplement your income, and many retirees choose to work after retirement as a rewarding experience anyway.

Looking to the future is important if you need to be secure in your retirement.  What happens today will reflect on your quality of life tomorrow.  A Basic Retirement Calculator online can help you see immediately what you need to do to have a comfortable retirement.



Kansieo.com

William Smith asked:


It’s no secret that the average American is not saving enough for his or her retirement. The sad truth is that most Americans have no savings at all - the average family is $10,000 in net debt! For years, men and women could depend on company pensions for their retirement.

If that failed, there was always Social Security to bail them out. But with pensions going the way of the dinosaur and Social Security also on the path to extinction, retirement saving is more important than ever.

In fact, if you don’t begin saving for your retirement now, you may not have any retirement to look forward to at all - you could be working until the day you die, and that’s no way to spend your golden years. So now that you know you need to save and invest, what is your ultimate objective? How much will you need for retirement?

Retirement Tip - Open an Individual Retirement Account (IRA)

Individual Retirement Accounts allow you to save money for retirement, tax-deferred. There are two types of Individual Retirement Accounts - the traditional IRA and the Roth IRA - but the most important thing to understand is that an IRA is a type of account, not an investment product itself.

Often you’ll hear people talk about IRAs as if they are savings bonds, CDs, or mutual funds, but these are merely things that would go in an Individual Retirement Account - an IRA is a tax sheltered account specifically for retirement savings, more like your checking account than an investment product.

The best thing about IRAs is that they allow you to save for retirement without having to worry about Uncle Sam’s share. A traditional IRA lets you make tax deductible contributions of up to $4,000 per year to your account - this means if you fully fund your IRA, you will have a $4,000 write-off on your taxes!

The money you put into the account can be used to buy stocks, bonds, or almost any other type of investment. As your IRA grows in value, you never have to pay any taxes on capital gains - even if you sell stocks within the account for a profit!

However, when you begin withdrawing money from the IRA (you’re eligible to start at age 59 1/2), you are taxed on the full amount of your withdrawals at your regular income tax rate.

For most people, a Roth IRA is even better. It allows you to make after-tax contributions - meaning you won’t get that $4,000 tax write-off - and otherwise, works much like a traditional IRA. So how can a Roth be better? Because since you’re using after-tax money, Uncle Sam will never, ever be able to tax your account’s earnings.

This means that if you build up $20 million in your Roth IRA, you won’t owe the government one dime when you start withdrawing your loot!

So How Much Will You Need for a Comfortable Retirement?

Retirement experts say people turning 65 in 2006 will need approximately $1 million for retirement. This may seem like a lot, but with life expectancies rising every year, it’s understandable.

A liquid net worth of $1 million would allow you to buy government bonds that paid $50,000 a year in interest, and you’d get your principal back at the end of the bond’s term.

For your retirement, you will need to determine the inflation adjusted equivalent of $1 million. Figure inflation at 3 percent a year, and see how much you’ll need. Then determine how much you’ll need to save each year at 8-10 percent return on investment, in order to achieve that much.

Thanks to the power of compound interest, the sooner you start saving the better. So get started today if you want to have a leisurely retirement. You’ll thank yourself in your old age!



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