Investment & Financial Articles
Title: Does Your Life Include a RIPE Plan?-Planning Tips for
Retirement, Investing, Protection, and Estate Planning - Part 1 (Retirement)
Author: Janet L. Hall
Article:
Does Your Life Include a RIPE Plan?-Planning Tips for
Retirement, Investing, Protection, and Estate Planning - Part 1
(Retirement) by: Janet L. Hall
No matter what your age or years of work, it's almost never too
late to start planning for your retirement. As a matter of fact,
the younger you are, the less chance you will have of becoming
destitute, or a * bag * person. I'm not trying to be funny, it
can happen to you if you don't watch what you are doing and PLAN
for the future.
Ponder for a minute on the questions below:
~~ What kind of life do you want in your * golden years *? ~~
How will you use your retirement time, meaning, what activities,
interests, or travel might you want to pursue? ~~ Will you need
or want to change your housing and lifestyle completely or do
you hope you can * stay where you are, doing the same things
you've always done *? ~~ If you are planning on living in a
different area, what are the standards of living in that area OR
what are the chances of the standard of living increasing or
decreasing where you are currently living? ~~ How might your
health affect your retirement? ~~ Will you need to continue to
work part-time after retirement to * make ends meet *? How will
that affect your benefits? ~~ Do you want to start your own
business, many people do after retirement, and how will that
affect your benefits? ~~ What * support * systems do you have or
need to have in place?
If a company employs you, you need to FIND OUT:
~~ if they have a retirement plan (benefits), such as a pension
or 401(k) ~~ what your TOTAL monthly or lump sum disbursement
will be ~~ how much you can contribute ~~ length of service
required to be eligible to collect benefits ~~ age required to
be eligible to collect benefits ~~ if the plan will meet your
needs/lifestyle after retirement
Take the time and schedule an appointment with your employer's *
benefits person * and discuss YOUR retirement plan. Ask them
about YOUR Statement Of Accrued Benefits (SAB). This is YOUR
personal account and will tell you the benefits you can expect
based on your salary and retirement time.
If you're self-employed, as many of us are, you need to
establish your own retirement plan. The easiest plan is an IRA
at which you can only contribute $2,000 yearly. If you're young
(years away from retirement) check out a non-deductible Roth
IRA. Other plans include SIMPLE, SEP-IRA, and Keogh Plan. If you
want to learn more about these plans, check our Reviews section
near the end of the newsletter.
Please don't think you can live on Social Security (in the USA)
alone! If you have no idea what you MIGHT have already
accumulated into Social Security, FIND OUT! (Link for SSA in
Reviews section)
WARNING and a TIP: Just when you thought you were covered! One
thing that can zap you financially is a divorce (I hope this
never happens to you) and your pension plan could be one of your
largest assets to be DIVIDED up (I've seen this happen). SO, if
you're married, I sincerely hope you stay so happily and forever
after!
Smiles, not Piles, Janet L. Hall Professional Organizer, Author,
and Speaker http://www.overhall.com "If your current systems
aren't working for you... get an "OverHall"!"
The Organizing Wizard, Janet L. Hall, is a Professional
Organizer, Speaker, and Author. She is the owner of OverHall
Consulting, and Organizing By Phone. Subscribe to her FREE
organizing newsletter at http://www.overhall.com/newsletter.htm
or visit her web site at http://www.overhall.com
Copyright (c) 2000 by OverHall Consulting P.O. Box 263, Port
Republic, MD 20676 All Rights Reserved. Permission is granted to
reproduce, copy, or distribute OverHall IT! or any articles by
Janet L. Hall so long as article(s) is kept intact, this
copyright notice, and full information about the author is
attached.
About the author:
The Organizing Wizard, Janet L. Hall, is a Professional
Organizer, Speaker, and Author. She is the owner of OverHall
Consulting, and Organizing By Phone. Subscribe to her FREE
organizing newsletter at http://www.overhall.com/newsletter.htm
or visit her web site at http://www.overhall.com
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