The document discusses the importance of carefully setting retirement planning assumptions and revising them over time as new information becomes available. It notes that small differences in assumptions like rates of return or inflation can significantly impact retirement projections. It recommends collaborating with an advisor to set reasonable assumptions that account for an individual's specific situation and goals. Regularly revising assumptions is important to keep the retirement plan on track as circumstances change.
This document discusses the importance of carefully setting assumptions when planning for retirement. It notes that retirement projections rely on assumptions about retirement date, living expenses, inflation rates, investment returns, and life expectancy. Even small differences in assumptions can significantly impact projections. The document advises regularly revising assumptions as new information becomes available. It also recommends collaborating with an advisor who can help determine reasonable assumptions based on individual circumstances and revise plans accordingly over time.
A retirement plan is built on a set of assumptions that can't be validated until it's too late. One key to successful retirement planning is carefully setting assumptions and revising them often.
The document discusses the importance of carefully setting retirement planning assumptions and revising them over time as circumstances change. It notes that small differences in assumptions like rates of return or inflation can significantly impact retirement projections. It recommends collaborating with an advisor to set reasonable assumptions that account for an individual's specific situation and goals. Regularly revising assumptions is key to keeping a retirement plan on track.
The Art of Managing Retirement AssumptionsForman Bay LLC
A retirement plan is built on a set of assumptions that can't be validated until it's too late. One key to successful retirement planning is carefully setting assumptions and revising them often.
Robert Feinholz: The art of managing retirement assumptionsForman Bay LLC
Robert Feinholz: The art of managing retirement assumptions
A retirement plan is built on a set of assumptions that can’t be validated until it’s too late. One key to successful retirement planning is carefully setting assumptions and revising them often.
Robert Feinholz: Planning for a 30 year retirementForman Bay LLC
Robert Feinholz: Planning for a 30 year retirement.
Funding a 30-year retirement will take financial planning prowess as you juggle the effects of inflation, distributions, taxes, asset allocation, and expenditures. Are you up to the task?
Robert Feinholz: What is the top asset class indentified for retirementForman Bay LLC
The study found that lifetime income annuities can provide secure retirement income for 25-40% less than other traditional methods thanks to risk pooling. Income annuities address the risk of outliving one's savings by providing guaranteed lifetime income that cannot be replicated by other asset classes. Covering basic living expenses with income annuities provides greater flexibility to take more investment risk in other portions of one's portfolio. Recent innovations have increased the desirability of income annuities.
The document discusses how retirement planning relies on assumptions about rates of return, inflation, expenses, and life expectancy that are difficult to accurately predict and can significantly impact retirement outcomes if incorrect. It recommends carefully setting initial assumptions with an advisor and revising them over time as more information becomes available. Collaborating with an advisor allows combining their market expertise with a client's personal details to establish the most reasonable assumptions.
This document discusses the importance of carefully setting assumptions when planning for retirement. It notes that retirement projections rely on assumptions about retirement date, living expenses, inflation rates, investment returns, and life expectancy. Even small differences in assumptions can significantly impact projections. The document advises regularly revising assumptions as new information becomes available. It also recommends collaborating with an advisor who can help determine reasonable assumptions based on individual circumstances and revise plans accordingly over time.
A retirement plan is built on a set of assumptions that can't be validated until it's too late. One key to successful retirement planning is carefully setting assumptions and revising them often.
The document discusses the importance of carefully setting retirement planning assumptions and revising them over time as circumstances change. It notes that small differences in assumptions like rates of return or inflation can significantly impact retirement projections. It recommends collaborating with an advisor to set reasonable assumptions that account for an individual's specific situation and goals. Regularly revising assumptions is key to keeping a retirement plan on track.
The Art of Managing Retirement AssumptionsForman Bay LLC
A retirement plan is built on a set of assumptions that can't be validated until it's too late. One key to successful retirement planning is carefully setting assumptions and revising them often.
Robert Feinholz: The art of managing retirement assumptionsForman Bay LLC
Robert Feinholz: The art of managing retirement assumptions
A retirement plan is built on a set of assumptions that can’t be validated until it’s too late. One key to successful retirement planning is carefully setting assumptions and revising them often.
Robert Feinholz: Planning for a 30 year retirementForman Bay LLC
Robert Feinholz: Planning for a 30 year retirement.
Funding a 30-year retirement will take financial planning prowess as you juggle the effects of inflation, distributions, taxes, asset allocation, and expenditures. Are you up to the task?
Robert Feinholz: What is the top asset class indentified for retirementForman Bay LLC
The study found that lifetime income annuities can provide secure retirement income for 25-40% less than other traditional methods thanks to risk pooling. Income annuities address the risk of outliving one's savings by providing guaranteed lifetime income that cannot be replicated by other asset classes. Covering basic living expenses with income annuities provides greater flexibility to take more investment risk in other portions of one's portfolio. Recent innovations have increased the desirability of income annuities.
The document discusses how retirement planning relies on assumptions about rates of return, inflation, expenses, and life expectancy that are difficult to accurately predict and can significantly impact retirement outcomes if incorrect. It recommends carefully setting initial assumptions with an advisor and revising them over time as more information becomes available. Collaborating with an advisor allows combining their market expertise with a client's personal details to establish the most reasonable assumptions.
This document discusses key considerations for planning a 30-year retirement. It notes that factors like inflation, taxes, health costs, longevity, and asset allocation must all be accounted for. Retirees may need income for 50 years or more, and inflation could significantly erode purchasing power over such a long period. The document recommends developing cash flow models with a financial advisor to identify gaps, setting a sustainable 4% annual withdrawal rate, and maintaining a contingency fund to address unexpected needs. Diversifying investments and regularly transferring funds are also suggested to balance risks.
Funding a 30-year retirement will take financial planning prowess as you
juggle the effects of inflation, distributions, taxes, asset allocation, and
expenditures. Are you up to the task?
Funding a 30-year retirement will take financial planning prowess as you
juggle the effects of inflation, distributions, taxes, asset allocation, and expenditures. Are you up to the task?
This document provides information to help readers determine how much to save for retirement. It recommends figuring out retirement income needs based on planned retirement age, desired lifestyle, life expectancy, expected investment returns, and whether principal will be drawn down. It then discusses building a retirement fund by saving as much as possible as early as possible, using employer-sponsored plans that offer matching contributions, IRAs, annuities, and other investments. Employer plans, IRAs, annuities, and other options each have unique tax advantages and disadvantages to consider.
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.
Principal protection with upside potential. 20% rollover bonus. 401k,IRA rollover eligible. For more information call (888) 235-8060 or visit us at www.AdvisorRick.com.
September ViewPoint Newsletter from Steve Stanganelli CFP(R)Steve Stanganelli
Welcome to the September 2011 edition of the ViewPoint Newsletter from Steve Stanganelli, CFP(R) of Clear View Wealth Advisors, a fee-only RIA located in Massachusetts. In this issue, retirement income planning, college funding strategies and tax tips for business owners and those going through divorce are shared.
This document provides an overview of 10 reasons for meeting with the financial advisors to review one's financial plan. It discusses ensuring annual reviews are conducted, assessing risks that could impact one's family, reviewing retirement plans, long term healthcare needs, and encouraging positive values in children through a trust. The advisors aim to provide a comprehensive review of finances and bring all aspects like tax, insurance, estate planning into alignment. The overall message is the importance of regular financial reviews.
Women live 5 years longer, on average, than men. Planning your own retirement is crucial to living the life you want to live.... the way you want to live it. Call us, let's talk.
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.
This document discusses key factors in retirement planning, including increased life expectancy, inflation, declining pensions, and health care costs. It outlines 5 steps for retirement planning: 1) set goals, 2) estimate expenses, 3) determine resources, 4) estimate savings needed, and 5) make adjustments if savings are insufficient. The document emphasizes starting to save early, maximizing tax-deferred savings plans, diversifying investments, and seeking professional financial planning assistance.
This document discusses how workers can no longer rely on promised income and benefits from their employers. It outlines how many employers have cut or restructured pensions, health benefits, salaries, and other compensation. This represents a shift to a "new normal" with more insecurity. The real cause of anger is that both public and private sector workers have lost pillars of financial support they once took for granted. The document provides advice on ways for workers to cope with these changes, such as saving more, investing more aggressively, spending less, working longer, considering new careers, and focusing on elements of their financial situation they can control.
This newsletter provides information about Social Security benefits, health insurance options for early retirees, ways to pay for graduate school, and the key provisions of the new Credit CARD Act of 2009. Specifically:
- Delaying receiving Social Security benefits past full retirement age results in larger monthly payments due to delayed retirement credits of up to 8% annually.
- Early retirees need to consider health insurance options like COBRA or individual policies since few employers offer retiree health benefits.
- Graduate students can take out federal loans, apply for scholarships and grants, and use employer educational assistance or education tax benefits to help pay for school.
- The Credit CARD Act of 2009 aims to increase transparency and
This document discusses retirement planning options for those close to retirement. It notes that people are living longer, placing more pressure on pension provisions. There are now many more retirement product choices than in the past, making planning more complex. The document outlines some common retirement product options available to those close to retirement, and recommends that clients read an accompanying retirement planning guide to better understand their personal circumstances and options.
This document provides an overview of financial planning for retirement. It discusses current retirement trends like declining pensions and increasing lifespans. It outlines objectives like exploring retirement planning tools and discussing sources of retirement income. It then gives 10 timeless retirement planning tips, such as starting to save early, saving the maximum allowed in retirement accounts each year, estimating retirement living costs, and carefully evaluating early retirement options. The document provides resources for retirement planning and discusses common retirement planning errors to avoid.
Viewpoint Newsletter for November and December 2010Steve Stanganelli
Investing for retirement requires planning income sources to replace wages after stopping work. Social Security, pensions, savings and continued work provide retirement income. Managing expenses and income sources carefully allows enjoying retirement as "the Next Act" without running out of money. Divorced spouses may receive Social Security benefits based on an ex-spouse's earnings after a 10-year marriage. Starting benefits at 62 requires being divorced for 2+ years even if not yet retired. Saving gifts for children in a 529, UGMA, EE bonds or dividend reinvestment plan allows money to grow for education or a nest egg.
20150921 PPI State Street myths and rules of thumb in retirement incomeSarah Luheshi
This document summarizes research on how "rules of thumb" could help individuals manage their defined contribution pension pots under the new UK pension flexibilities. It discusses two potential rules of thumb - the "4% rule" where individuals withdraw 4% of their pot annually adjusted for inflation, and securing a "basic income to meet essential needs." The research found that while received wisdom may be true for some, rules of thumb phrased in clear, easy to understand language could help guide retirement income decisions for many by addressing risks like drawing down pensions too quickly. Financial education is still needed to ensure rules of thumb benefit individuals.
This document provides a summary of current financial buzzwords, trends, and unintended consequences. It discusses phased retirement as more workers extend their careers due to economic struggles. It also covers the trend of strategic mortgage defaults for homeowners who owe more than their homes are worth. Additionally, it notes the unintended consequence that many people are converting traditional IRAs to Roth IRAs in 2010 to avoid potential future tax increases, generating billions in unexpected tax revenue for the government.
Working just a few more years can significantly reduce the amount baby boomers need saved for retirement. Delaying retirement by 1-4 years provides several benefits: more time to save and earn investment returns, higher Social Security benefits, potentially higher pension benefits, and avoiding individual health insurance costs from ages 55-64. Specifically, the document estimates that a couple earning $58,600 would need a lump sum of $510,800 if retiring at 62 but only $298,400 if retiring at 66. Working longer in one's primary career is usually more financially advantageous than retiring early to take a lower-paying encore career job.
Passenger seat is main part of vehicle which has direct effect on her/his convenience. Seat suspension can remove unwanted and harmful vibration if right parameters were selected. Each of human body organs has specific natural frequency. When vehicle vibration reaches to this natural frequency, resonance will occur, and this phenomenon is harmful in long term. Usually lumped models used to predict human body response to vibration. In this paper, via Kitazaki biodynamic model, the seat to head vibration transmissibility was minimized by artificial neural network method. By this method, the optimum spring constant, damper coefficient and mass values were found.
This document discusses key considerations for planning a 30-year retirement. It notes that factors like inflation, taxes, health costs, longevity, and asset allocation must all be accounted for. Retirees may need income for 50 years or more, and inflation could significantly erode purchasing power over such a long period. The document recommends developing cash flow models with a financial advisor to identify gaps, setting a sustainable 4% annual withdrawal rate, and maintaining a contingency fund to address unexpected needs. Diversifying investments and regularly transferring funds are also suggested to balance risks.
Funding a 30-year retirement will take financial planning prowess as you
juggle the effects of inflation, distributions, taxes, asset allocation, and
expenditures. Are you up to the task?
Funding a 30-year retirement will take financial planning prowess as you
juggle the effects of inflation, distributions, taxes, asset allocation, and expenditures. Are you up to the task?
This document provides information to help readers determine how much to save for retirement. It recommends figuring out retirement income needs based on planned retirement age, desired lifestyle, life expectancy, expected investment returns, and whether principal will be drawn down. It then discusses building a retirement fund by saving as much as possible as early as possible, using employer-sponsored plans that offer matching contributions, IRAs, annuities, and other investments. Employer plans, IRAs, annuities, and other options each have unique tax advantages and disadvantages to consider.
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.
Principal protection with upside potential. 20% rollover bonus. 401k,IRA rollover eligible. For more information call (888) 235-8060 or visit us at www.AdvisorRick.com.
September ViewPoint Newsletter from Steve Stanganelli CFP(R)Steve Stanganelli
Welcome to the September 2011 edition of the ViewPoint Newsletter from Steve Stanganelli, CFP(R) of Clear View Wealth Advisors, a fee-only RIA located in Massachusetts. In this issue, retirement income planning, college funding strategies and tax tips for business owners and those going through divorce are shared.
This document provides an overview of 10 reasons for meeting with the financial advisors to review one's financial plan. It discusses ensuring annual reviews are conducted, assessing risks that could impact one's family, reviewing retirement plans, long term healthcare needs, and encouraging positive values in children through a trust. The advisors aim to provide a comprehensive review of finances and bring all aspects like tax, insurance, estate planning into alignment. The overall message is the importance of regular financial reviews.
Women live 5 years longer, on average, than men. Planning your own retirement is crucial to living the life you want to live.... the way you want to live it. Call us, let's talk.
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.
This document discusses key factors in retirement planning, including increased life expectancy, inflation, declining pensions, and health care costs. It outlines 5 steps for retirement planning: 1) set goals, 2) estimate expenses, 3) determine resources, 4) estimate savings needed, and 5) make adjustments if savings are insufficient. The document emphasizes starting to save early, maximizing tax-deferred savings plans, diversifying investments, and seeking professional financial planning assistance.
This document discusses how workers can no longer rely on promised income and benefits from their employers. It outlines how many employers have cut or restructured pensions, health benefits, salaries, and other compensation. This represents a shift to a "new normal" with more insecurity. The real cause of anger is that both public and private sector workers have lost pillars of financial support they once took for granted. The document provides advice on ways for workers to cope with these changes, such as saving more, investing more aggressively, spending less, working longer, considering new careers, and focusing on elements of their financial situation they can control.
This newsletter provides information about Social Security benefits, health insurance options for early retirees, ways to pay for graduate school, and the key provisions of the new Credit CARD Act of 2009. Specifically:
- Delaying receiving Social Security benefits past full retirement age results in larger monthly payments due to delayed retirement credits of up to 8% annually.
- Early retirees need to consider health insurance options like COBRA or individual policies since few employers offer retiree health benefits.
- Graduate students can take out federal loans, apply for scholarships and grants, and use employer educational assistance or education tax benefits to help pay for school.
- The Credit CARD Act of 2009 aims to increase transparency and
This document discusses retirement planning options for those close to retirement. It notes that people are living longer, placing more pressure on pension provisions. There are now many more retirement product choices than in the past, making planning more complex. The document outlines some common retirement product options available to those close to retirement, and recommends that clients read an accompanying retirement planning guide to better understand their personal circumstances and options.
This document provides an overview of financial planning for retirement. It discusses current retirement trends like declining pensions and increasing lifespans. It outlines objectives like exploring retirement planning tools and discussing sources of retirement income. It then gives 10 timeless retirement planning tips, such as starting to save early, saving the maximum allowed in retirement accounts each year, estimating retirement living costs, and carefully evaluating early retirement options. The document provides resources for retirement planning and discusses common retirement planning errors to avoid.
Viewpoint Newsletter for November and December 2010Steve Stanganelli
Investing for retirement requires planning income sources to replace wages after stopping work. Social Security, pensions, savings and continued work provide retirement income. Managing expenses and income sources carefully allows enjoying retirement as "the Next Act" without running out of money. Divorced spouses may receive Social Security benefits based on an ex-spouse's earnings after a 10-year marriage. Starting benefits at 62 requires being divorced for 2+ years even if not yet retired. Saving gifts for children in a 529, UGMA, EE bonds or dividend reinvestment plan allows money to grow for education or a nest egg.
20150921 PPI State Street myths and rules of thumb in retirement incomeSarah Luheshi
This document summarizes research on how "rules of thumb" could help individuals manage their defined contribution pension pots under the new UK pension flexibilities. It discusses two potential rules of thumb - the "4% rule" where individuals withdraw 4% of their pot annually adjusted for inflation, and securing a "basic income to meet essential needs." The research found that while received wisdom may be true for some, rules of thumb phrased in clear, easy to understand language could help guide retirement income decisions for many by addressing risks like drawing down pensions too quickly. Financial education is still needed to ensure rules of thumb benefit individuals.
This document provides a summary of current financial buzzwords, trends, and unintended consequences. It discusses phased retirement as more workers extend their careers due to economic struggles. It also covers the trend of strategic mortgage defaults for homeowners who owe more than their homes are worth. Additionally, it notes the unintended consequence that many people are converting traditional IRAs to Roth IRAs in 2010 to avoid potential future tax increases, generating billions in unexpected tax revenue for the government.
Working just a few more years can significantly reduce the amount baby boomers need saved for retirement. Delaying retirement by 1-4 years provides several benefits: more time to save and earn investment returns, higher Social Security benefits, potentially higher pension benefits, and avoiding individual health insurance costs from ages 55-64. Specifically, the document estimates that a couple earning $58,600 would need a lump sum of $510,800 if retiring at 62 but only $298,400 if retiring at 66. Working longer in one's primary career is usually more financially advantageous than retiring early to take a lower-paying encore career job.
Passenger seat is main part of vehicle which has direct effect on her/his convenience. Seat suspension can remove unwanted and harmful vibration if right parameters were selected. Each of human body organs has specific natural frequency. When vehicle vibration reaches to this natural frequency, resonance will occur, and this phenomenon is harmful in long term. Usually lumped models used to predict human body response to vibration. In this paper, via Kitazaki biodynamic model, the seat to head vibration transmissibility was minimized by artificial neural network method. By this method, the optimum spring constant, damper coefficient and mass values were found.
The European debt crisis began as debt levels rose in countries like Greece, Ireland, Italy, Portugal and Spain. This called into question their ability to repay loans and weakened the collateral backing loans from the European Central Bank. To avoid default, the EU and IMF have bailed out some countries but imposed strict austerity measures, cutting spending and jobs. However, austerity threatens economic recovery and a "double dip" recession. The crisis could spread to the US through reduced demand for US exports and a weaker euro. The high debt levels may cast a long-term shadow on economic growth across Europe and globally.
The REVERSE Regimen is a 4-step skincare system that uses a combination of prescription-strength ingredients and active cosmetic ingredients to repair sun-damaged skin, lighten dark spots and uneven pigmentation, brighten dull skin, and protect against further UV damage. The regimen includes a deep exfoliating wash, skin lightening toner, skin lightening treatment, and environmental shield sunscreen. Used together, the products exfoliate dead skin, lighten pigmentation, even skin tone and texture, and boost skin's radiance and protection. Clinical studies showed the regimen improved brightness, smoothness, skin tone evenness and reduced age spots for most participants after 8 weeks of use.
This document summarizes and advertises Park Point Residences, a new luxury condominium development in Cebu, Philippines. It is located in Cebu Park District, a mixed-use development that combines business, leisure, and residential areas. The development will have 255 luxury residences with amenities including private access to shopping and restaurants at Ayala Center Cebu, a gym, pools, and lounge areas. It is being developed by Ayala Land Premier and will offer residents an upscale lifestyle in the heart of Cebu City.
This document discusses various megaloblastic and deficient anemias. It describes how megaloblastic anemias are caused by issues with DNA synthesis that result in larger cells. The main causes are deficiencies in vitamin B12 and folic acid. It provides details on the diagnosis and treatment of vitamin B12 and folic acid deficiencies, including potential neurological, digestive, and other health issues. It also briefly outlines other deficient anemias that can be caused by lack of vitamins A, B, C, E, and copper. The treatment involves replacing the deficient vitamins or minerals.
Sedona Parc is a new 21-story residential condominium development located in Cebu Business Park that will consist of 114 modern units ranging from studios to 2-bedroom units, with amenities including a gym, pool, function hall, and roof deck. The development is being designed and built by Ayala Land to cater to urban professionals in Cebu, with unit prices ranging from 2.8-10 million pesos and an expected completion date of Q1 2014.
The document provides an overview of the company Lytro, which produces light field cameras. Key points include:
- Lytro was founded in 2006 and produces low-cost light field cameras aimed at consumers rather than industries.
- Their cameras capture light field data which allows for refocusing images after they are taken and creates a limited 3D effect.
- Lytro's cameras have faced limitations in resolution, depth of field, lack of video recording, and being Mac only.
- Competition comes from companies producing more advanced light field cameras like Raytrix, and dual lens cameras from Panasonic. Potential acquirers that could benefit from Lytro's light field technology include mobile phone manufacturers
Funding a 30-year retirement will take financial planning prowess as you
juggle the effects of inflation, distributions, taxes, asset allocation, and
expenditures. Are you up to the task?
It is a mistake to put off retirement planning and not determine how much one needs to save. It is also a mistake to believe that savings are safe with only bonds and to be overly generous by giving assets away now. Additionally, it is a mistake to underestimate one's budget needs in retirement as expenses may be higher than expected. Proper retirement planning involves determining savings goals, maintaining a balanced portfolio, and accurately assessing expenses.
6 Retirement Questions Government Employees Should Be AskingBravias Financial
There are emotions and worries tied into retirement. When it comes to government workers, they have additional challenges to consider when evaluating their benefits and options. As financial professionals who specialize in helping government employees transition from work to
retirement, Bravias Financial understands that you may have questions about when and how you can retire. This special
report addresses some common questions and presents some strategies to help you prepare for a more
comfortable 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.
Planning for retirement is important for doctors to ensure financial security after stopping work. Key considerations include age and life stage, sources of retirement income, and investment planning. Doctors should determine their financial needs in retirement, develop an investment strategy with a balanced portfolio, and consider options like part-time work to supplement savings and investments. Proper retirement planning can help doctors enjoy a comfortable lifestyle after leaving regular employment.
Planning for retirement is important for doctors to ensure financial security after stopping work. Key considerations include age and lifestyle goals. Sources of retirement income may include insurance, social security, employer pensions, personal savings, investments, part-time work, and businesses. Developing an investment strategy involves determining financial needs, allocating assets across fixed income, equities, mutual funds, and ensuring sufficient liquidity and diversification of income sources. Proper retirement planning and investment allows doctors to maintain their standard of living and enjoy retirement.
This document provides a guide to avoiding common mistakes in retirement financial planning. It discusses underestimating life expectancy, relying on being able to work longer than planned, neglecting healthcare costs, accepting low investment returns, failing to monitor withdrawal rates, and not getting a second opinion on your financial plan. It then provides more details on generating retirement income, sources of guaranteed retirement income, protecting assets with various types of insurance, other retirement considerations like housing and healthcare, and the basics of estate planning.
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
Most baby boomers will face seven key events in their last stage of life that will color their finances and investments. Prepare for these events by thinking about them now.
This document discusses four important financial issues for retirees: generating sufficient retirement income, maintaining affordable health coverage, maintaining independence at advanced ages, and best leaving assets to heirs. It provides information on investing retirement funds for higher returns than savings accounts to cover health and long-term care costs if needed. The document also discusses Medicare options and the importance of supplemental coverage, as well as factors to consider regarding annuities and long-term care insurance due to the high likelihood of needing long-term care services.
Most baby boomers will face seven significant life events as they age:
1) Their parents will get old and may require care, so boomers should prepare now by discussing health, long-term care plans, powers of attorney, and estate planning with parents.
2) Boomers will face the death of their parents and need to settle their estate and manage any inherited assets.
3) Boomers will focus on staying healthy but may encounter high healthcare costs and navigating the complex healthcare system.
4) Boomers will reach retirement age and need to understand Social Security, Medicare, and tax benefits available at that stage of life.
5) Boomers will manage multiple sources of retirement income like pensions,
The document provides information about conducting a pension review and creating an action plan for a richer retirement. It outlines key questions to consider as part of the pension review, such as contributions, financial needs, investment performance, and options at retirement. The action plan section then guides the reader through assessing their current financial situation, retirement goals, any gaps, and potential actions to close gaps and achieve retirement goals, such as changing investments or pension arrangements. The overall document aims to help readers evaluate if their current pension and savings are on track to meet their retirement income needs and identify actions to improve their prospects for a "richer retirement".
The document provides information on conducting a pension review and creating an action plan for a richer retirement. It outlines key questions to consider in the review, such as whether contributions are sufficient, financial needs, investment performance, and fees. The action plan section recommends assessing one's current situation, retirement goals, any gaps, and steps to take. Conducting regular reviews can help ensure a pension is on track to meet retirement income needs.
This document outlines seven key life transitions that most baby boomers will face as they move through the last third of their lives: [1] their parents will get old and may require care, [2] their parents will die which will require settling their estate, [3] they will need to focus on staying healthy and managing health care costs, [4] they will reach retirement age and need to consider benefits like Social Security and Medicare, [5] they will need to manage multiple sources of retirement income, [6] they themselves will get old and may require long-term care arrangements, and [7] they will eventually die and should consider legacy and estate planning. The document advises preparing for these transitions now rather
- People tend to discount future rewards and prefer immediate rewards, meaning they are more likely to cancel a future vacation for an even better future vacation rather than cancel a soon vacation for a better future one. This "hyperbolic discounting" can lead to overconsumption and under-saving.
- Automatic enrollment and automatic contribution increases in retirement plans can help counter this tendency by making saving the default option and gradually increasing contributions over time in a way that feels low-cost to employees.
- A real 401(k) plan found that participants in a program with automatic contribution escalators had the highest savings rates that were sustained over time, showing the effectiveness of this pre-commitment approach.
This document provides guidance on avoiding common mistakes in retirement planning and generating retirement income. Some key mistakes include underestimating life expectancy, failing to account for healthcare costs, and having returns that are too low. The document recommends estimating expenses, totaling income sources, and adjusting plans if there is a shortfall. Sources of retirement income that can be controlled include CDs, annuities, mortgage-backed securities, and municipal bonds, with annuities and mortgage-backed securities providing higher guaranteed rates of return.
The document is a multi-product brochure from Manulife aimed at consumers transitioning to retirement. It provides an overview of retirement products and highlights key things for readers to consider when planning for retirement, such as when to retire, estimating expenses, understanding sources of income, and reviewing insurance needs. The brochure uses a magazine format with different sections to make the large amount of information easier for readers to navigate and find what interests them most. This format was well-received by clients and marketing teams.
http://ekinsurance.com/financial/retirement/
If you are near retirement or have retired, listed below are several common mistakes that occur in the arena of financial planning for retirement that you can plan now to avoid.
Similar to B wrezinski art of managing retirement assumptions reprint (20)
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
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.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
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1. ADVISOR/CLIENT EDUCATION BRIEF
The Art of Managing Retirement Assumptions
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A retirement plan is built on a set of assumptions that can’t be validated until
it’s too late. One key to successful retirement planning is carefully setting
assumptions and revising them often.
Retirement calculators make it so easy. Pick a retirement
date. Estimate your living expenses in retirement and Bernie Wrezinski
choose an inflation rate. Figure out a rate of return for Founder / President
your investments. Guess how long you think you’ll live. Put
these assumptions into the calculator, and it will tell you Wrezinski Advisory Group
just how much you need to have at retirement in order to 800-999-2371
receive the income stream you desire.
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The problem is your assumptions could be off. And if http://wtag.biz
they’re off by just a little, they could skew the result by a
significant amount over your remaining life. Consider this:
The difference between a 5% and a 6% return on a $1
million portfolio over 30 years is more than $1.5 million
($4,467,744 vs. $6,022,575).
If your have annual living expenses of $60,000 now,
in 30 years you’ll need an annual income of $147,410 if
inflation averages 3%, but just $109,272 if it averages 2%
— a difference of over $38,000 in just one year.
If a portfolio withdrawal rate is set to last to age 90 and
you make it to your 91st birthday, the plan failed.
You can’t do retirement projections without making some
assumptions. But most of the self-help tools out there
make assumption-setting seem too easy. Some even have
default settings, which imply that the metric in question —
a 3% inflation rate, for example — is what any reasonable
person would choose. To change it would be to go against
the conventional wisdom, a scary proposition for anyone
who isn’t even sure what the inflation rate is based on.
According to a research report by LIMRA and the
Society of Actuaries, major gaps exist in the public’s
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3. To begin with, it seems that the overall inflation rate Collaborate with your advisor
for older Americans is higher than for the general You and your advisor each have information and insights
population. The CPI-E, an experimental inflation index that can increase the accuracy of assumptions. Your
for Americans 62 years of age or older, show that prices advisor’s understanding of the markets and the economy,
for the things older Americans spend money on — his experience with clients who are already retired, and
primarily health care and leisure — are rising by more his number-crunching ability can give you a professional
than the general inflation rate. advantage over web-based retirement calculators
designed for individuals to use on their own.
In addition, older Americans generally vary their
spending throughout retirement. Two mistakes many At the same time, you have information that may
retirement plans make, says Dr. Somnath Basu, program influence the assumptions that should be used. For
director of financial planning at the California Lutheran example, you may decide to shorten or extend the life
University, are assuming that all living expenses will expectancy assumption based on what you know about
increase at the overall rate of inflation as measured your particular family history, health status, and lifestyle.
by the CPI, and bundling expenses together over a
person’s retirement. Another important factor is your willingness to revise
your goals if one or more of the major retirement risks
Basu created an age-banded model that assumes an should threaten to play out. Ask yourself if you would
individual will experience a lifestyle change every 10 be willing to work longer (or go back to work if already
years — at 65, 75, and 85 — causing a change in the mix retired) or lower your standard of living in order to
of leisure, health care, and ordinary living expenses. either save more now or reduce expenses in retirement.
Since the inflation rate for each area of spending will The less willing you are to revise your goals, the more
vary, each age band will have its own set of projected conservative the assumptions need to be.
expenses. Typically, for example, the travel budget (and
the inflation rate applied to travel expenses) declines
when people enter their 80s. However, this is offset by
an increase in health care expenses, which may carry a
different inflation expectation.
When planning your retirement, visualize your life all
the way through and establish appropriate assumptions
for each phase, including a final phase that may require
several years of living assistance or nursing care.
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