This document provides an introduction to superannuation. It discusses what superannuation is, why we need compulsory super, and the benefits of saving through super such as tax advantages. It emphasizes that starting contributions early and maximizing returns can make a big difference to the total amount saved by retirement. The document recommends seeking professional financial advice to understand options and strategies for one's personal situation.
A document discusses accumulating funds in a deferred fixed interest and indexed annuity for retirement. It describes how annuities can be used to systematically save money and guarantee retirement income that cannot be outlived. It then provides details on sources of retirement income, obstacles to retirement planning, and how annuities can help overcome those obstacles by allowing tax-deferred growth and converting savings into guaranteed lifetime income.
Brett Cranson held a financial seminar covering various topics to help attendees reduce debt, budget planning, and reach financial goals. The seminar discussed the differences between good and bad debt, how to pay down credit card debt and create a budget. It also covered saving strategies like RRSPs, TFSAs, RESPs and when to consider life and critical illness insurance. The overall seminar provided guidance on developing both short and long-term financial plans.
The document discusses various retirement planning strategies such as investing in stocks, bonds, mutual funds, IRAs and 401(k)s. It provides details on contribution limits for traditional and Roth IRAs and how much individuals can contribute each year depending on income and age. The effects of starting retirement savings early versus late are shown through hypothetical investment scenarios over 30 years with different annual returns.
1) The document outlines the steps for retirement planning which include identifying goals and expenses, inventorying assets and income sources, analyzing the likelihood of reaching goals, creating an action plan, and monitoring the plan.
2) It emphasizes prioritizing retirement objectives from most to least important and quantifying essential versus non-essential expenses.
3) Key retirement income sources like Social Security, pensions, and investments are discussed along with ensuring reliable income will cover minimum expenses and filling any gaps.
The document is a quarterly newsletter for Homestead Funds shareholders. It discusses Homestead Funds celebrating 20 years of investing for shareholders, preparing for retirement by estimating expenses, longevity, and income sources, and provides a spotlight on the bond funds managed by Homestead Funds.
This document provides an overview of retirement planning and considerations. It discusses starting retirement planning early, estimating expenses and income, identifying savings goals, using tax-advantaged accounts like 401ks and IRAs, factors like inflation, diversifying investments, and protecting against risks with insurance. The key aspects are starting retirement planning as soon as possible, crunching numbers to calculate savings needs, and implementing a long-term strategy using various savings vehicles and accounts.
This document provides information to help people retire ready, including:
- It explores current U.S. retirement trends, discusses retirement planning tools, and provides 10 timeless retirement planning tips.
- Sobering statistics are presented on health care costs, longevity, poverty rates, and disconnects between planned and actual retirement.
- Key retirement planning factors are outlined like age, income needs, savings, and health. Other important factors like caregiving and job options are also discussed.
- Tools for estimating savings needs, life expectancy, and safe withdrawal rates in retirement are reviewed to help people better plan.
The document discusses risks in retirement planning. It defines risk as the potential for injury or loss. Traditional planning focuses on asset allocation during accumulation, but the goal is to transition savings into lifelong income during retirement. The key risks in retirement include market risk, longevity risk, inflation risk, health expenses, and lack of guaranteed income streams. The document advocates building a "retirement income survival kit" to address these risks.
A document discusses accumulating funds in a deferred fixed interest and indexed annuity for retirement. It describes how annuities can be used to systematically save money and guarantee retirement income that cannot be outlived. It then provides details on sources of retirement income, obstacles to retirement planning, and how annuities can help overcome those obstacles by allowing tax-deferred growth and converting savings into guaranteed lifetime income.
Brett Cranson held a financial seminar covering various topics to help attendees reduce debt, budget planning, and reach financial goals. The seminar discussed the differences between good and bad debt, how to pay down credit card debt and create a budget. It also covered saving strategies like RRSPs, TFSAs, RESPs and when to consider life and critical illness insurance. The overall seminar provided guidance on developing both short and long-term financial plans.
The document discusses various retirement planning strategies such as investing in stocks, bonds, mutual funds, IRAs and 401(k)s. It provides details on contribution limits for traditional and Roth IRAs and how much individuals can contribute each year depending on income and age. The effects of starting retirement savings early versus late are shown through hypothetical investment scenarios over 30 years with different annual returns.
1) The document outlines the steps for retirement planning which include identifying goals and expenses, inventorying assets and income sources, analyzing the likelihood of reaching goals, creating an action plan, and monitoring the plan.
2) It emphasizes prioritizing retirement objectives from most to least important and quantifying essential versus non-essential expenses.
3) Key retirement income sources like Social Security, pensions, and investments are discussed along with ensuring reliable income will cover minimum expenses and filling any gaps.
The document is a quarterly newsletter for Homestead Funds shareholders. It discusses Homestead Funds celebrating 20 years of investing for shareholders, preparing for retirement by estimating expenses, longevity, and income sources, and provides a spotlight on the bond funds managed by Homestead Funds.
This document provides an overview of retirement planning and considerations. It discusses starting retirement planning early, estimating expenses and income, identifying savings goals, using tax-advantaged accounts like 401ks and IRAs, factors like inflation, diversifying investments, and protecting against risks with insurance. The key aspects are starting retirement planning as soon as possible, crunching numbers to calculate savings needs, and implementing a long-term strategy using various savings vehicles and accounts.
This document provides information to help people retire ready, including:
- It explores current U.S. retirement trends, discusses retirement planning tools, and provides 10 timeless retirement planning tips.
- Sobering statistics are presented on health care costs, longevity, poverty rates, and disconnects between planned and actual retirement.
- Key retirement planning factors are outlined like age, income needs, savings, and health. Other important factors like caregiving and job options are also discussed.
- Tools for estimating savings needs, life expectancy, and safe withdrawal rates in retirement are reviewed to help people better plan.
The document discusses risks in retirement planning. It defines risk as the potential for injury or loss. Traditional planning focuses on asset allocation during accumulation, but the goal is to transition savings into lifelong income during retirement. The key risks in retirement include market risk, longevity risk, inflation risk, health expenses, and lack of guaranteed income streams. The document advocates building a "retirement income survival kit" to address these risks.
Retirement planning is a constantly changing subject. John Friar, AIF, of HJB Financial walks employers through the new landscape of retirement planning.
The document discusses different options for retirement planning including government programs like Social Security, employer programs, and individual programs like IRAs and life insurance. It notes that government programs alone are not enough to fully fund retirement and that employer programs have shifted more responsibility to employees. It emphasizes that individuals need to take responsibility for their own retirement security through options like IRAs, which offer tax benefits whether contributions are made pre-tax or post-tax, and life insurance, which can protect against both dying too soon and living too long into retirement.
This document provides 5 questions to ask yourself 5 years before retirement to help envision your retirement lifestyle and needs:
1. Where will you live? Consider housing costs, proximity to family, employment opportunities, and general location preferences.
2. What will you do? Consider if activities will generate income or expenses, such as travel, hobbies, volunteering, or starting a business.
3. How well will you live? Will your lifestyle be simple and low-cost or more extravagant if funds allow.
4. How long do you expect to live? Plan for longevity to age 95-100 since individual life expectancy is unpredictable.
5. What surprises may occur? Consider
This document provides 5 questions to ask yourself 5 years before retirement to help envision your retirement lifestyle and needs:
1. Where will you live? Consider housing costs, proximity to family, employment opportunities, and travel plans.
2. What will you do? Consider if activities will generate income or expenses like hobbies and travel.
3. How well will you live? Will your lifestyle be simple or more extravagant?
4. How long do you expect to live? Plan for longevity to 95-100 years old.
5. What surprises may occur? Consider potential health issues, needs of family, economic conditions, and disasters. Proper planning can help address unexpected events.
The document provides 5 questions to ask yourself 5 years before retirement to help envision your retirement lifestyle and needs:
1. Where will you live and how will location impact costs of housing, taxes, proximity to family, and availability of work?
2. What activities will fill your time and how will those impact your budget as some are more expensive than others?
3. How will you want to live in terms of lifestyle - frugally or lavishly?
4. How long do you expect to live and plan finances accordingly rather than just average life expectancy?
5. What unexpected life events like health problems, family issues, economic downturns or disasters might impact your finances? Advanced
Why Retirement plan ( Things to remember while planning for retirement )Singharoy Investment
The document discusses abuse and neglect of elders in India. It finds that 42% of elders felt disrespected, 37.8% were verbally abused, and 28.2% experienced neglect or economic abuse. The main abusers were sons and daughters-in-law, and over half of abused elders did not take action. The main context for abuse was related to property. Most elders felt that regular income was the only way to escape abuse. The document also discusses the importance of retirement planning and saving systematically from an early age in order to financially secure one's retirement years.
The document is a personal financial plan dated 2008 for James, Jill, and Jane. It includes an executive summary that outlines recommendations for cash flow management, risk management/insurance, retirement planning, investment planning, estate planning, and tax planning. The plan seeks to increase their annual surplus, ensure full family protection through insurance, accumulate sufficient retirement funds, improve investment returns, securely pass on assets, and maximize tax savings. It also includes sections on goals and objectives, personal details, and current financial situation.
This document summarizes retirement planning services offered by Principal Financial Group. They provide a comprehensive retirement planning solution through a 6-step advisory process enabled by their retirement planning platform. Their solutions address clients' financial needs at all life stages from youth to retirement through personalized planning, asset allocation strategies, and ongoing monitoring and rebalancing. As a global leader in retirement and financial services with over $400 billion in assets under management, Principal Financial Group offers advisory capabilities backed by their worldwide best practices and operational expertise.
This document provides an overview of the role of cash value life insurance in retirement planning. It discusses how cash value life insurance can provide benefits if the policyholder dies, becomes disabled, or lives to retirement. The document outlines how cash value life insurance can serve as a source of retirement income through policy loans and withdrawals. It also notes various tax advantages of cash value life insurance, such as tax-deferred growth and income tax-free death benefits. The document aims to educate readers on how cash value life insurance products work and their potential benefits for retirement planning.
1. Research your health insurance options, including high-deductible plans paired with HSAs. These allow you to save pre-tax funds to cover medical costs.
2. Ask providers about costs upfront for routine care like checkups and common procedures. Shop around as prices can vary significantly.
3. Manage your health by maintaining preventative care, eating healthy, exercising, and avoiding risky behaviors to reduce the need for costly treatments.
Taking proactive steps to understand your health insurance options, get cost information, and manage your health empowers you to make informed choices that control rising premiums and out-
This document discusses consumer driven health care and high deductible health plans with health savings accounts (HSAs). It provides examples of how HSAs can save individuals and families money on health insurance premiums and taxes compared to traditional plans. The summaries are:
1) HSAs are tax-advantaged accounts that allow individuals to pay for medical expenses with pre-tax dollars, saving on taxes. Any unused funds roll over year to year and can be invested for continued tax-free growth.
2) Examples show HSAs can significantly lower insurance costs for individuals and families through lower premiums compared to plans with copays and richer benefits. Savings grow over time through tax-free contributions and investment returns.
3
The document provides an overview of key retirement planning considerations including longevity and health, spending and inflation, investment returns, and health costs. It notes that Canadians are living longer, retiring earlier, and may need to fund 20 years of retirement from 40 years of work. Key pieces of advice include diversifying investments, planning for higher costs due to inflation, and considering health and long-term care needs as these unknowns can significantly impact retirement. Developing a customized retirement plan is recommended to help navigate future uncertainties.
This document provides an overview and guide to retirement planning. It discusses several key factors to consider when developing a retirement strategy:
1) Common misconceptions around retirement like continuing to work or maintaining spending levels often do not match reality, as health, family, or job factors can lead to earlier retirement than expected.
2) Longevity has increased significantly - a 65 year old today has a 52% chance that one spouse will live to 90. Retirees need to plan for the very real possibility of living 30+ years in retirement.
3) More older Americans are remaining in the workforce both by choice and necessity, as projected percentages of those over 65 in the labor force are expected to increase in the
Gwen Becker, RBC and Allison Maher, Family Wealth Coach lead you through the critical questions to empower you to take ownership of your financial future.
Many people put off retirement planning and do not start saving early enough. Retirement planning is important to maintain financial independence later in life. With increasing lifespans and medical costs, and declining interest rates, people will need to start retirement planning decades in advance. The document provides tips on calculating retirement needs based on current and projected expenses accounting for inflation, building an emergency fund, allocating assets appropriately based on risk tolerance and time horizon, and ensuring adequate insurance coverage. Proper retirement planning requires starting early and maintaining discipline in investments over the long term.
The document discusses considerations for accepting an early retirement offer from an employer. It outlines typical elements of early retirement packages including severance payments, post-retirement medical coverage, and bridging payments. It discusses evaluating an offer by considering tax implications and the impact on retirement benefits. The document also outlines potential consequences of accepting or declining an offer such as less time to save for retirement or facing uncertainty if declining the offer. It provides tips for determining if early retirement is financially feasible.
The document discusses challenges facing baby boomers as they approach retirement including longer lifespans, rising healthcare costs, and strategies for funding retirement. With many boomers planning to work past 65, CPAs should help clients evaluate retirement income needs, investment options like 401(k)s and IRAs, and using a combination of Social Security, savings, and part-time work to fund retirement years that may last two decades or more. CPAs can provide guidance on retirement planning strategies like pensions, annuities, and asset allocation to help clients prepare financially for their longer retirements.
This document discusses retirement planning and aged care. It provides an overview of retirement income needs, including estimates that a single person will need $23,811-$41,112 annually for a modest to comfortable retirement, while a couple will need $34,499-$59,495. It also discusses aged care options like in-home care, residential care, and costs associated with each. The document stresses the importance of planning early for retirement and aged care given increasing lifespans so people can afford to fund their retirement lifestyle and future care needs.
IBB Wealth has created a guide on planning your retirement.
IBB Wealth are financial advisors who specialise in wealth management for all stages of your life.
We are based in Uxbridge, West London but support clients in Surrey, Buckinghamshire and all surrounding areas.
For advice on retirement planning please visit: http://ibbwealth.co.uk/index.html
IBB Wealth
Capital Court
30 Windsor Street
Uxbridge
UB8 1AB
t: 01895 544 001 / e: info@ibbwealth.co.uk
Retirement planning is a constantly changing subject. John Friar, AIF, of HJB Financial walks employers through the new landscape of retirement planning.
The document discusses different options for retirement planning including government programs like Social Security, employer programs, and individual programs like IRAs and life insurance. It notes that government programs alone are not enough to fully fund retirement and that employer programs have shifted more responsibility to employees. It emphasizes that individuals need to take responsibility for their own retirement security through options like IRAs, which offer tax benefits whether contributions are made pre-tax or post-tax, and life insurance, which can protect against both dying too soon and living too long into retirement.
This document provides 5 questions to ask yourself 5 years before retirement to help envision your retirement lifestyle and needs:
1. Where will you live? Consider housing costs, proximity to family, employment opportunities, and general location preferences.
2. What will you do? Consider if activities will generate income or expenses, such as travel, hobbies, volunteering, or starting a business.
3. How well will you live? Will your lifestyle be simple and low-cost or more extravagant if funds allow.
4. How long do you expect to live? Plan for longevity to age 95-100 since individual life expectancy is unpredictable.
5. What surprises may occur? Consider
This document provides 5 questions to ask yourself 5 years before retirement to help envision your retirement lifestyle and needs:
1. Where will you live? Consider housing costs, proximity to family, employment opportunities, and travel plans.
2. What will you do? Consider if activities will generate income or expenses like hobbies and travel.
3. How well will you live? Will your lifestyle be simple or more extravagant?
4. How long do you expect to live? Plan for longevity to 95-100 years old.
5. What surprises may occur? Consider potential health issues, needs of family, economic conditions, and disasters. Proper planning can help address unexpected events.
The document provides 5 questions to ask yourself 5 years before retirement to help envision your retirement lifestyle and needs:
1. Where will you live and how will location impact costs of housing, taxes, proximity to family, and availability of work?
2. What activities will fill your time and how will those impact your budget as some are more expensive than others?
3. How will you want to live in terms of lifestyle - frugally or lavishly?
4. How long do you expect to live and plan finances accordingly rather than just average life expectancy?
5. What unexpected life events like health problems, family issues, economic downturns or disasters might impact your finances? Advanced
Why Retirement plan ( Things to remember while planning for retirement )Singharoy Investment
The document discusses abuse and neglect of elders in India. It finds that 42% of elders felt disrespected, 37.8% were verbally abused, and 28.2% experienced neglect or economic abuse. The main abusers were sons and daughters-in-law, and over half of abused elders did not take action. The main context for abuse was related to property. Most elders felt that regular income was the only way to escape abuse. The document also discusses the importance of retirement planning and saving systematically from an early age in order to financially secure one's retirement years.
The document is a personal financial plan dated 2008 for James, Jill, and Jane. It includes an executive summary that outlines recommendations for cash flow management, risk management/insurance, retirement planning, investment planning, estate planning, and tax planning. The plan seeks to increase their annual surplus, ensure full family protection through insurance, accumulate sufficient retirement funds, improve investment returns, securely pass on assets, and maximize tax savings. It also includes sections on goals and objectives, personal details, and current financial situation.
This document summarizes retirement planning services offered by Principal Financial Group. They provide a comprehensive retirement planning solution through a 6-step advisory process enabled by their retirement planning platform. Their solutions address clients' financial needs at all life stages from youth to retirement through personalized planning, asset allocation strategies, and ongoing monitoring and rebalancing. As a global leader in retirement and financial services with over $400 billion in assets under management, Principal Financial Group offers advisory capabilities backed by their worldwide best practices and operational expertise.
This document provides an overview of the role of cash value life insurance in retirement planning. It discusses how cash value life insurance can provide benefits if the policyholder dies, becomes disabled, or lives to retirement. The document outlines how cash value life insurance can serve as a source of retirement income through policy loans and withdrawals. It also notes various tax advantages of cash value life insurance, such as tax-deferred growth and income tax-free death benefits. The document aims to educate readers on how cash value life insurance products work and their potential benefits for retirement planning.
1. Research your health insurance options, including high-deductible plans paired with HSAs. These allow you to save pre-tax funds to cover medical costs.
2. Ask providers about costs upfront for routine care like checkups and common procedures. Shop around as prices can vary significantly.
3. Manage your health by maintaining preventative care, eating healthy, exercising, and avoiding risky behaviors to reduce the need for costly treatments.
Taking proactive steps to understand your health insurance options, get cost information, and manage your health empowers you to make informed choices that control rising premiums and out-
This document discusses consumer driven health care and high deductible health plans with health savings accounts (HSAs). It provides examples of how HSAs can save individuals and families money on health insurance premiums and taxes compared to traditional plans. The summaries are:
1) HSAs are tax-advantaged accounts that allow individuals to pay for medical expenses with pre-tax dollars, saving on taxes. Any unused funds roll over year to year and can be invested for continued tax-free growth.
2) Examples show HSAs can significantly lower insurance costs for individuals and families through lower premiums compared to plans with copays and richer benefits. Savings grow over time through tax-free contributions and investment returns.
3
The document provides an overview of key retirement planning considerations including longevity and health, spending and inflation, investment returns, and health costs. It notes that Canadians are living longer, retiring earlier, and may need to fund 20 years of retirement from 40 years of work. Key pieces of advice include diversifying investments, planning for higher costs due to inflation, and considering health and long-term care needs as these unknowns can significantly impact retirement. Developing a customized retirement plan is recommended to help navigate future uncertainties.
This document provides an overview and guide to retirement planning. It discusses several key factors to consider when developing a retirement strategy:
1) Common misconceptions around retirement like continuing to work or maintaining spending levels often do not match reality, as health, family, or job factors can lead to earlier retirement than expected.
2) Longevity has increased significantly - a 65 year old today has a 52% chance that one spouse will live to 90. Retirees need to plan for the very real possibility of living 30+ years in retirement.
3) More older Americans are remaining in the workforce both by choice and necessity, as projected percentages of those over 65 in the labor force are expected to increase in the
Gwen Becker, RBC and Allison Maher, Family Wealth Coach lead you through the critical questions to empower you to take ownership of your financial future.
Many people put off retirement planning and do not start saving early enough. Retirement planning is important to maintain financial independence later in life. With increasing lifespans and medical costs, and declining interest rates, people will need to start retirement planning decades in advance. The document provides tips on calculating retirement needs based on current and projected expenses accounting for inflation, building an emergency fund, allocating assets appropriately based on risk tolerance and time horizon, and ensuring adequate insurance coverage. Proper retirement planning requires starting early and maintaining discipline in investments over the long term.
The document discusses considerations for accepting an early retirement offer from an employer. It outlines typical elements of early retirement packages including severance payments, post-retirement medical coverage, and bridging payments. It discusses evaluating an offer by considering tax implications and the impact on retirement benefits. The document also outlines potential consequences of accepting or declining an offer such as less time to save for retirement or facing uncertainty if declining the offer. It provides tips for determining if early retirement is financially feasible.
The document discusses challenges facing baby boomers as they approach retirement including longer lifespans, rising healthcare costs, and strategies for funding retirement. With many boomers planning to work past 65, CPAs should help clients evaluate retirement income needs, investment options like 401(k)s and IRAs, and using a combination of Social Security, savings, and part-time work to fund retirement years that may last two decades or more. CPAs can provide guidance on retirement planning strategies like pensions, annuities, and asset allocation to help clients prepare financially for their longer retirements.
This document discusses retirement planning and aged care. It provides an overview of retirement income needs, including estimates that a single person will need $23,811-$41,112 annually for a modest to comfortable retirement, while a couple will need $34,499-$59,495. It also discusses aged care options like in-home care, residential care, and costs associated with each. The document stresses the importance of planning early for retirement and aged care given increasing lifespans so people can afford to fund their retirement lifestyle and future care needs.
IBB Wealth has created a guide on planning your retirement.
IBB Wealth are financial advisors who specialise in wealth management for all stages of your life.
We are based in Uxbridge, West London but support clients in Surrey, Buckinghamshire and all surrounding areas.
For advice on retirement planning please visit: http://ibbwealth.co.uk/index.html
IBB Wealth
Capital Court
30 Windsor Street
Uxbridge
UB8 1AB
t: 01895 544 001 / e: info@ibbwealth.co.uk
Whether retirement is many years away or just around the corner we help you plan for the future you want. The earlier you start planning the easier it will be to create the lifestyle you would like.
Individual disability insurance can provide income replacement if you are unable to work due to disability. The document discusses how insuring your income through disability insurance is a fundamental part of financial planning, as your ability to earn an income may be your most valuable asset. It notes that over 25% of 30-year old males and over 20% of 30-year old females will become disabled for 90 days or more before age 65. The document emphasizes that if you become disabled, your savings and assets may not be enough to cover living expenses, making disability insurance crucial protection.
Exploring Your Options For A Quality Retirement RedoneRobert Blackburn
The document discusses strategies for planning a successful retirement. It identifies four key factors that can erode retirement savings: debt, inflation, taxes, and health issues. It emphasizes taking control of retirement planning early on through contributing to pre-tax and after-tax retirement accounts, maintaining a diversified portfolio, and constantly monitoring progress to adjust plans as needed. Individuals are ultimately responsible for their own retirement security, not employers or the government. Planning over a long time horizon is essential to maximizing net spendable income during retirement.
The document discusses various risks to consider for retirement planning such as longevity risk, inflation risk, and investment risk. It introduces variable annuities as a potential solution to help mitigate these risks by providing guaranteed lifetime income, protection against market downturns, and upside potential from stock market investments. Variable annuities can help secure retirement income through features such as living benefits and death benefits. Working with a financial advisor can help assess if a variable annuity is a suitable strategy for individual retirement goals and risk tolerance.
The document discusses 5 key risks to retirement planning: longevity risk, health care costs, changes to public policy like Social Security, inflation risk, and investment risk. It notes that people are living longer so savings may need to last 30 years or more in retirement. Health care costs like Medicare premiums and out-of-pocket expenses are significant. Public policy around programs like Social Security could change. Inflation erodes purchasing power over time. Market volatility from investing introduces risk to retirement savings. Proper planning and working with a financial professional can help mitigate these risks and create a retirement income plan.
When it comes to planning for retirement, the earlier you start, the more potential your money has to grow. Retirement planning is not simply about paying regularly into your pension and forgetting about it. Instead, it is essential to review your progress against your retirement goals and take account of changes that may affect your plans. For more information visit https://www.tudorfranklin.co.uk
Actuary Steve Vernon, retirement expert, Fellow of the Society of Actuaries and president of Rest-of-Life Communications, provides his recommendations regarding the current state of retirement and what individuals, employers and plan sponsors should do to prepare for retirement. For more information, visit www.restoflife.com
The document summarizes the current state of retirement in the United States, including challenges like inadequate financial resources, lack of retirement plan participation, and declining defined benefit plans. It then provides recommendations for individuals, such as developing a retirement plan, maximizing Social Security and pension benefits, and adjusting expenses to match retirement income. Finally, it offers examples of calculating target retirement savings needed at different ages.
Presentation on superannuation and retirement income for people age 50 plusEquipsuper
1) The document provides information about retirement planning and income options from Equipsuper, an Australian superannuation fund and financial services provider.
2) It discusses strategies for increasing retirement savings like salary sacrificing, making extra contributions, and using a transition to retirement pension.
3) The document also covers converting superannuation into retirement income streams like account-based pensions, and managing investments and withdrawals over the course of retirement.
This document provides an overview of retirement planning and factors to consider when preparing for retirement. It discusses estimating future earning potential and life expectancy, sources of retirement income like Social Security and employer plans, estimating retirement savings needs, and the power of tax-advantaged retirement accounts. Key points made include that most people will live to retirement age and beyond, the average Social Security benefit replaces about 40% of pre-retirement income, and personal savings are needed to bridge the gap between expenses and other income sources in retirement. Delaying retirement planning can significantly reduce the amount saved.
The document discusses different retirement savings options such as 401(k)s, IRAs, and pensions. It provides details on contribution limits, tax advantages, and investment growth over time for each option. The main message is that starting to save for retirement early, even in small amounts each week, can significantly increase the total savings one accumulates by retirement age.
The document provides an introduction to retirement planning basics. It discusses why individuals need to take retirement planning into their own hands given uncertainties around social security and pension benefits. It also notes the need to plan for unforeseen medical expenses in retirement and potential estate planning goals. The document outlines key factors to consider when determining how much money is needed for retirement, including desired retirement age, expected annual income needs, current savings, expected investment returns, and any pension benefits.
The meeting agenda covered pension basics, the SEI master trust, and an HR update. Sue Curryer then provided an overview of university pension arrangements and pensions basics. Toby Cross then presented on how the defined contribution pension scheme works, how members can take control of their pension, and answered questions.
The document discusses the importance of planning for retirement given increasing lifespans and outlines strategies for retirement success such as contributing to 401k plans starting early, paying yourself first by spending less than you earn, avoiding emotional decisions with investments, not taking early withdrawals from retirement accounts, and prioritizing needs over wants to maximize savings. It also highlights tools like annual reviews, statements, and financial advisors that can help people stay on track with their retirement goals.
This is a presentation for Blue Edge Financial Planning for a post on their Facebook page.
It is their Spring newsletter.
You can follow them on Facebook at:
http://www.facebook.com/blueedgefinancialplanning
Delaying retirement by a few years could significantly improve one's retirement lifestyle by providing more time to save and earn returns on investments, as well as increasing Social Security benefits. The document provides examples showing how retirement income and portfolio values increase by waiting until ages 64, 67, or 70 to retire rather than at 62. It also discusses factors like taxes, investment types and accounts, risk tolerance, and creating a long-term retirement strategy.
This retirement report provides an overview of Mr. and Mrs. Smith's current financial position as they prepare for retirement. It finds that they have $729,071 in net worth but will need $664,621 in additional savings to cover expected retirement costs. The report recommends investing more in tax-deferred accounts, paying down debt, and adjusting retirement plans based on current market conditions like low bond yields and rising healthcare costs. It aims to help the Smiths achieve a secure and comfortable retirement.
The document discusses the changing financial landscape and opportunities with life insurance. It notes that fees can significantly reduce retirement savings over time. Life insurance is positioned as a better alternative due to lower fees, tax advantages, living benefits and ability to access funds penalty-free. The document argues that with the right strategy, life insurance can provide greater returns and income than other options like 401ks. It also discusses opportunities for referral agents.
CMC is a global steel and metals company with over 14,000 employees worldwide. It manufactures, recycles, markets, and distributes steel and metal products through a network of over 200 locations globally. CMC operates steel minimills, fabrication plants, service centers, and recycling facilities. It aims to be vertically integrated and diversified in its product offerings and geographic reach.
The document provides an overview of CMC's business model which focuses on vertical integration, product diversification, and global geographic dispersion. It then discusses CMC's current market conditions and outlook across different geographic regions and product lines, including details on earnings expectations, capital investment projects, and quarterly financial statistics. The document also reviews factors influencing costs and selling prices for CMC's various steel manufacturing operations in North America.
The document provides an overview of CMC, a global steel and metals company. It discusses CMC's business model which focuses on vertical integration, product diversification, and global geographic dispersion. It also summarizes CMC's track record of conservative management and 30 consecutive years of profitability. Finally, it outlines CMC's five operating segments and overall strategy of achieving a global reach through regional focus and growth in key markets.
CMC is a global steel and metals company with over 14,000 employees worldwide. It manufactures, recycles, markets, and distributes steel and metal products through a network of over 200 locations globally. CMC operates steel minimills, fabrication plants, service centers, and recycling facilities. It aims to vertically integrate its operations from scrap processing to steel fabrication to provide a hedge against steel and metal price fluctuations.
The document provides an overview of CMC's business model, current market conditions, earnings results, and operational metrics for the third quarter of 2008. It discusses CMC's strategy of vertical integration, product diversification, and global geographic dispersion. It also reviews earnings, sales, margins, capital investments, and performance across CMC's different business segments.
The document provides an overview of CMC's business model, current market conditions, earnings results, and operational metrics for the third quarter of 2008. It discusses CMC's strategy of vertical integration, product diversification, and global geographic dispersion. It also reviews demand trends, input costs, earnings, investments, segment performance, and operational details.
This document provides an overview of Commercial Metals Company (CMC) and its quarterly performance. It discusses CMC's business model, including its vertical integration and product and geographic diversification. It also summarizes CMC's financial performance from 2003-2007, highlighting increasing sales, earnings, and shareholder returns over that period. Current market conditions and CMC's outlook are briefly addressed.
The document provides an overview of CMC's business model and current market conditions for the 4th quarter of 2008. It summarizes CMC's key business segments, product lines, capital projects, financial statistics, and discusses challenges in the global steel market including falling prices, reduced demand, and excess inventory. It analyzes factors such as raw material costs, sales prices, margins, and operating profits across CMC's divisions.
The document provides an overview of CMC's business model and current market conditions for the 4th quarter of 2008. It summarizes CMC's key business segments, current projects, liquidity position, financial statistics, and discusses challenges in the global steel market including falling prices, reduced demand, and excess inventory. It analyzes performance and outlook for CMC's Americas and international operations.
This document summarizes notes from the 4th Annual Global Steel CEO Forum held by Goldman Sachs on December 4, 2008. It discusses the current challenging market conditions for the steel industry due to the global liquidity crisis, including falling prices, production cutbacks, and declining demand. Updates are provided on conditions and outlook for different markets, including further price declines and inventory reductions in North America, continued cutbacks and oversupply in Europe and the Middle East, and China's efforts to stimulate domestic demand and infrastructure spending to boost its economy and steel demand. Breaking the negative cycle depends on the effectiveness of global government intervention programs and restoration of confidence.
The document discusses how Commercial Metals Company (CMC) is different from other steel companies. It notes that CMC focuses on long steel products, has diversified its business across five segments including steel mills, fabrication, recycling, and marketing, and has a track record of consistent profitability and financial strength over 26 years. The document aims to show investors that CMC's strategy and performance set it apart from other steel industry firms.
The document discusses how Commercial Metals Company (CMC) is different from other steel companies. It notes that CMC focuses on long steel products, has diversified its business across five segments including steel mills, fabrication, recycling, and marketing, and has a track record of consistent profitability and financial strength over 26 years. The document aims to show investors that CMC's strategy and performance set it apart from other steel industry firms.
The document discusses how Commercial Metals Company (CMC) is different from other steel companies. It notes that CMC focuses on long steel products, has diversified its business across five segments including steel mills, fabrication plants, recycling, and marketing/distribution, and has a track record of consistent profitability and financial strength over 26 years. The document aims to show shareholders that CMC's business strategy and performance set it apart from other steel industry firms.
This document is Commercial Metals Company's 2005 Annual Report. It summarizes the company's financial performance for fiscal year 2005, including record net earnings of $286 million on net sales of $6.6 billion, up from $132 million on $4.8 billion the previous year. It discusses positive results across the company's business segments, including Domestic Mills, Domestic Fabrication, Recycling, and Marketing & Distribution. The annual report also provides an overview of the company's operations, strategic focus on vertical integration, and capital expenditure plans.
This document is the 2005 annual report for Commercial Metals Company. It summarizes the company's financial performance for fiscal year 2005, which saw record net earnings of $286 million on net sales of $6.6 billion, up from $132 million on $4.8 billion the previous year. The company's domestic mills and fabrication segments significantly outperformed the prior year due to higher steel prices and strong end-user demand. While operations in Poland saw a decline from the prior year, performance improved in the fourth quarter. Overall, the company benefited from favorable market conditions across most of its businesses.
This document is Commercial Metals Company's 2005 Annual Report which summarizes the company's financial performance for fiscal year 2005. Some key points:
- The company achieved record net earnings of $286 million on record net sales of $6.6 billion in fiscal year 2005, up from $132 million in net earnings on $4.8 billion in net sales in fiscal year 2004.
- All of the company's business segments - Domestic Mills, Domestic Fabrication, Recycling, and Marketing & Distribution - experienced strong financial performance and profitability in 2005.
- The company continued its strategy of vertical integration and diversification which has helped it perform well in changing market conditions.
- For
This annual report summarizes Commercial Metals Company's financial performance in fiscal year 2006. Some key points:
- Record net earnings of $356 million on $7.6 billion in net sales, up from $286 million on $6.6 billion the prior year.
- All five business segments (domestic mills, CMCZ, domestic fabrication, recycling, and marketing/distribution) performed well due to favorable market conditions and the company's vertical integration strategy.
- Domestic mills set new records for sales, production, and shipments as metal spreads increased. The copper tube mill's operating profit increased significantly year-over-year.
This annual report summarizes Commercial Metals Company's financial performance in fiscal year 2006. Some key points:
- Record net earnings of $356 million on $7.6 billion in net sales, up from $286 million on $6.6 billion the prior year.
- All five business segments (domestic mills, CMCZ, domestic fabrication, recycling, and marketing/distribution) performed well due to favorable market conditions and the company's vertical integration strategy.
- Domestic mills set production and shipment records while benefiting from high metal spreads. CMCZ also improved significantly through organizational changes and new investments.
Commercial Metals Company reported record financial results for fiscal year 2006 with net sales of $7.6 billion, net earnings of $356 million, and diluted earnings per share of $2.89. All five of CMC's business segments performed well, with domestic steel mills, CMCZ (the Polish steel operation), and recycling being especially strong. Market conditions were favorable, especially for non-residential construction, and CMC executed well. The company also invested in new facilities, acquisitions, and branding initiatives. CMC has high confidence in its future due to the continued expected strength of its end markets and its vertically integrated business model.
Commercial Metals Company had a profitable year in 2007, approaching the record profits of 2006. The company made several strategic acquisitions, announced plans to build a new micro mill, and reorganized internally to take advantage of growth opportunities. All five of the company's business segments performed well. Safety remains a major focus.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic DataChampak Jhagmag
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
2. Introduction to superannuation
Broad overview of super
Why do you need it?
What are the benefits?
How can you maximise the benefits?
This module gives you a broad overview of superannuation, why we need it, what benefits
super offers and the best way to maximise the benefits of super to ensure you have a
secure financial future.
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3. What is superannuation?
Your super
Tax advantages
Self-funded retirement
Age pension inadequate
2 3
1 Leave the fund
In the fund
Join the fund
Employer (SG) contributions Choice of fund Retirement age
Choice of investment options
Your voluntary contributions Lump sum or pension
Choice of insurance options Transition to retirement
Rollovers from other funds
Information & education Tax & social security
Contributions for spouse/children
Fees and charges Financial advice
Government co-contributions
Superannuation is a long-term investment with tax advantages that encourage people to
fund their own retirement rather than rely on the age pension.
There are three stages of the super life cycle.
Stage 1 is when you join a fund. Your employer is legally required to pay the equivalent of
9% of your salary into super, and you can top this up with your own voluntary
contributions. You can also transfer or roll over money from other super funds and make
contributions on behalf of your spouse and your children.
Stage 2 of super is when you are invested in the fund. You’ll probably be offered a choice
of benefits and the fund will provide information that explains what they offer. Make sure
you understand what these choices are and see a qualified financial adviser if you need
help. You’ll receive regular reports and updates from the fund, including a breakdown of
the fees deducted from your account.
Stage 3 is when you leave the fund. The government doesn’t allow you to withdraw your
super until retirement, which for most people is between 55 and 60. You can take the
money as either a lump sum or a pension. There are many taxation and social security
issues to consider when you retire so the best thing to do is to see a professional financial
adviser and talk over the best strategy for your situation.
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4. Why we need compulsory super
By the middle of
this century,
24.2%
The over 65s around a quarter
of the population
will be over 65.
30m O/65 6,000,000
12.2% TOTAL 24,900,000
O/65 2,300,000
20m TOTAL 18,800,000
4%
10m
O/65 150,000
TOTAL 3,800,000
1998 2051
1901
Compulsory super is the Government’s answer to our ageing population. An ageing
population means less people working (and less people paying taxes) to support people
in retirement.
The number of Australians over 65 has been climbing steadily and by the middle of this
century, almost 25% of the population will be over 65! The Government can’t afford to pay
the pension to that many people, which means that your income in retirement must come
from whatever you’ve saved while you were working.
This is where super comes in.
4
5. Establish goals and timeframes
1 to 3 year 3 to 5 year Over 5 years
short-term goals medium-term goals long-term goals
Replace the car $ $ $
Renovate the house $ $ $
Pay school fees $ $ $
Overseas holiday $ $ $
Weddings for kids $ $ $
Deposit for investment $ $ $
Deposit for first home $ $ $
Pay off home loan $ $ $
Plan for retirement $ $ $
(superannuation)
Total amounts to meet $ $ $
your goals
Super is just ONE part of a broader financial plan.
The first step in any financial plan is to establish goals and a timeframe. Group the goals
into categories and rank them in order of importance. The timeframe for your goals should
help you decide the best way to save. For example, if you're saving for a new car and you
need the money soon, you might choose a bank account or a cash management trust.
On the other hand, if you’re saving for longer-term goals like education or retirement, you
can afford to invest more money in longer-term investments like property and shares.
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6. How much super is enough?
Monthly contribution if your current super balance is:
Current Years to Nil $10,000 $25,000 $50,000 $100,000
age retirement
35 30 $1,023 $958 $861 $698 $372
40 25 $1,318 $1,249 $1,145 $972 $625
45 20 $1,754 $1,678 $1,564 $1,373 $992
50 15 $2,469 $2,380 $2,247 $2,026 $1,582
55 10 $3,874 $3,759 $3,586 $3,298 $2,723
See the notes below for assumptions used in creating this table.
Everyone’s circumstances are different but there are some useful guidelines to help you
decide how much super you’ll need.
One general rule of thumb says that you need around two-thirds of your current salary to
fund a comfortable retirement. In other words, if your current salary is $60,000, you will
probably need an annual income in retirement of about $40,000 before tax.
The table gives you an idea of how much you have to contribute monthly to super to have
a yearly retirement income of $40,000. For example, if you are 45 with 20 years to
retirement and currently have $10,000 in superannuation, you’ll need to save around
$1,700 a month to fund a retirement income of $40,000.
There are many ways to calculate or estimate how much money you’ll need in retirement
so the best thing to do is talk to a licensed financial adviser about your personal
circumstances and your income needs. You can also use the retirement income
calculator on our website to get an indicative guideline.
Assumptions used in creating the table:
•Calculations based on a person with current salary of $60,000 pa looking for a benefit of
approximately two-thirds of salary a year.
•Investment return of 7% pa after fees and tax.
•Salary growth 3% pa.
•Contributions paid monthly in advance, net of tax.
•Member will retire and receive payments annually in advance at age 65 with life
expectancy of 16.21 years.
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7. Early start + good return = big difference
IMPORTANT!
$400K
Don’t delay.
Mary
Get the best return you can, without $366,680@9%
excess risk.
$300K See the notes below for assumptions
used in creating this graph.
Peter
$200K
$214,666@7%
$100K Paul
$101,573 @7%
25 35 45 55 65
The earlier you start saving, whether it’s through superannuation or some other type of
investment, the easier it will be to achieve your financial goals. This might seem obvious
but people often overlook the difference that an early start can make.
Take Peter and Paul for example.
Peter starts saving $20 a week from the age of 25. He earns 7% after tax and
accumulates over $214,000 by age 65.
Paul, on the other hand, doesn’t start saving until he’s 35. He also saves $20 a week and
earns 7% but by age 65, he only has $101,000, less than half Peter’s amount.
Mary is the smartest of them all, because not only does she start early, but she also
manages to earn slightly more than the others. She earns 9% from age 25 and
accumulates a hefty $366,000 by age 65.
So the moral of the story is don’t delay, and get the best return you can … without taking
on too much risk.
Assumptions used in creating the graph:
• Everyone allocated contributions of $20 (net of tax and fees) at the start of the week.
• Investment returns are net of tax and fees.
• Excludes any Government co-contributions that may apply.
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8. Tax advantages of super
PAYG income tax rates 2008/2009 financial year
Maximum tax on
Taxable income $ Tax payable
super earnings is
only 15%
0 - 6,000 Nil
6,001 – 34,000 15% for each $1 in excess of $6,000
34,001 - 80,000 $4,200 + 30c for each $1 in excess of $34,000
80,001 - 180,000 $18,000 + 40c for each $1 in excess of $80,000
180,001 + $58,000 + 45c for each $1 in excess of $180,000
Tax payable excludes the Medicare levy of 1.5%
To encourage people to save for their retirement using superannuation, the government
has given superannuation certain tax advantages. The income from your superannuation
investment is taxed at a maximum of 15%. Income earned outside superannuation is
taxed at your marginal tax rate – which can be as much as 45% plus the 1.5% Medicare
levy. In addition, lump sum benefits and pensions paid at or after age 60 are tax free.
8
9. Tax advantages of super
Value of $25,000 invested for 30 years @ 7% pa before tax
SUPER NON-SUPER
Year Tax rate Marginal tax rate
on earnings on earnings
15% 16.5% 31.5% 41.5% 46.5%
30 $141,569 $137,420 $101,896 $83,337 $75,328
Marginal tax rates include the Medicare levy of 1.5%
Let’s look at the difference this can make to your savings.
Say you had a lump sum of $25,000 to invest in either a superannuation or non-
superannuation investment. Both earn a 7% return before tax. After 30 years, the
superannuation investment will grow to almost $142,000.
On the other hand, the best you can expect from the non-super investment is around
$137,000, and that’s if you’re on the lowest marginal tax rate of 16.5% (including the
Medicare levy). As your marginal tax rate increases, the value of your investment
decreases to around HALF the amount available in super if you’re on the top marginal tax
rate!
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10. Incentives to save through super
What How it works Incentive
HIGH GROWTH
Growth 100%
Salary sacrifice Employer makes More take-home pay, but
contributions to super same amount into super
from before-tax pay as with after-tax conts.
Insurance Premiums may be
Most funds offer
discounted and payable
death, TPD and
from pre-tax dollars
income protection
Co-contribution Government may match More money invested in
$1,000 member your super fund
contributions with
$1,500 co-contribution
Spouse contributions An 18% rebate may apply
Make payments into a
separate account on
behalf of spouse
Tax-free lump sum and More money for your
Tax-free from age 60
pension benefits retirement
There are a number of good reasons to invest in superannuation quite aside from the
lower tax on the fund’s earnings. For example, you may be able to make salary sacrifice
or pre-tax contributions to superannuation. This reduces your taxable pay, meaning more
take-home pay for the same amount going into super when compared with making after-
tax contributions.
Most super funds offer insurance benefits and the premiums may be better than those
available outside super.
You may qualify for the Government’s co-contribution, whereby the Government will
contribute $1,500 for every $1,000 you contribute, subject to certain income and
maximum contribution limits.
And you can also make contributions on behalf of your spouse. Not only does this boost
the amount you are jointly saving for retirement, but you may also reduce your tax bill by
qualifying for a rebate.
Lump sum and pension benefits taken at or over age 60 are tax-free.
Talk to a qualified financial adviser about superannuation strategies that are appropriate
for your particular situation.
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