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Business & Finance - Your Retirement

Whatever you think about retirement — that it’s sneaking up you, staring you in the face, or taking its own sweet time — you’ll have to make a number of financial decisions when you retire that will affect your lifetime income and your beneficiaries’ long-term security.

You many find the prospect of making these choices intimidating, especially as you discover that some of your decisions are irrevocable. And when it comes to managing money, even your revocable decisions can have long-term consequences.

The Five Biggest Retirement Mistakes - The important thing is to know – with as much accuracy as is possible – is how much your income needs will be during your retirement years and how much they will change during those years as mortgages are paid off etc. Too many people go into retirement either blind to these figures, or using that rule of thumb that has no bearing on their individual situation.

How Inflation And Lack of Inflation Can Affect Your Retirement - If you are on a fixed pension with no cost of living adjustment or a fixed annuity payment, things may be fine now but become more challenging later in life as you cope with higher prices.  The solution is that when you are planning for retirement that you incorporate not only “fixed” cashflow sources like annuities, pensions and bonds but also assets that generally can keep pace with inflation such as stocks and commodities.

How Baby Boomers Can Generate Steady Income From Their Investments - Many in the Greatest Generation worked as long as they could and very few were fortunate enough to have a retirement that would be considered ‘golden’ by today’s standards.  How many spent the last 1/3 of their lives pursuing hobbies and leisure instead of working?  Yet boomers retiring in their 60’s can expect to live about 30 years in retirement which is a lot longer than their parents.

How to Select the Right Retirement Plan If You’re Self Employed - The good news is that the correct plan can help you save a significant amount of money toward your retirement and provide generous tax advantages as well.

Investment Advice for Fun and Profit [Theirs, not Yours!] - A horrible (though apparently for some people still unacknowledged) fact of our National political life is that the Social Security system cannot remain solvent except as a pay-as-we-go system.  That is, younger people pay, and older people draw benefits.  For the past 65 years, this arrangement has worked fairly well, because older people died early enough not to strain the system.  But we live longer now, and there are fewer young people paying, for each older person who wants to retire. 

What Women Need to Know About Retirement - Today, our retirement system still functions as if most of the workers in America were men. But with 69 million women in the workforce—and 10 million of them the sole breadwinners in their families—it is time and past time to bring our retirement policies into the 21st century.

Senior Investor Resource Center - As the oldest international investor protection organization, NASAA is pleased to provide the tools seniors can use to protect themself against investment fraud.

SIPC (Securities Investor Protection Corporation) - SIPC urges all investors to understand the dangers of investment fraud and where to turn for help if swindled.

Did You Know?

If you withdraw 10% of your retirement account in a year in which your investment return is 5%, you’re not locked into taking the same amount the following year. But if you continue to withdraw at a faster rate than your account grows — even if you really need the money to live on — you run the risk of running out of money much sooner than you anticipated.

There are some retirement choices you have to make carefully, since you can’t change your mind once you’ve committed yourself. Here are some to watch out for:

• Taking a lump sum withdrawal from your retirement plan
• Choosing the way your pension annuity will be paid
• Buying an immediate annuity

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