Tag Archives: retirement calculator

Building a Retirement Nest Egg

Retirement & Estate Planning, , , ,

In last week’s column, we looked at three retirees who had not made adequate financial plans to ensure that they could enjoy their golden years. To achieve a financially stress-free retirement, you have to create a proper strategy to replace your working income while you’re still employed.

One of the ways to generate retirement revenue is to invest over time to build a nest egg that will eventually provide the income you’ll need. Planning for an event that’s far in the future is not a simple process, so you must seek advice from a financial advisor. Here’s a look at what the retirement planning process entails:

Step 1:   Establish the Planning Parameters

The advisor will need to know your current financial situation in order to estimate the cost of your desired retirement lifestyle. Experts usually approximate 70 percent to 80 percent of your present expenses for retirement income needs; as some costs such as children’s bills, mortgages and car loans should hopefully gone at that time. Continue reading Building a Retirement Nest Egg →

Your Retirement Years: will you be stressed out or stress-free?

Retirement & Estate Planning, , ,

“I will be 49 years old this year and I’ve always been self-employed. I currently operate a successful salon, but lately I’ve been getting a little tired of working all the time. The problem is that I’ve never really thought about retirement, so I don’t have much money saved up. Is it too late to start a retirement plan?

Perhaps the most discouraging experience for a financial advisor is to meet someone whose financial situation is so grave that you really can’t offer much assistance to fix it. Fortunately, those cases are rare. Unfortunately, when they do occur, they’re usually associated with persons in their retirement years.

Let’s look at three persons who have had negative retirement experiences; where it was just too late to make positive changes:

Sixty-seven year-old Clarence has been the caretaker for a residential complex for over thirty years. He is appreciated by all the occupants, as he is trustworthy and friendly. However Clarence is realizing that the effects of age have diminished his ability to carry out any of his very physical job functions, and he is worried what will happen in the future. Continue reading Your Retirement Years: will you be stressed out or stress-free? →