ASPIRE TO INSPIRE TOO!

Do You Foresee Retirement Self-Reliance?

2008-07-19T18:47:00.000-07:00

Hi readers!
Its great to be back. For the past 3 months I've been busy setting up my online business and so I could not find the time to update this blog. Being a retiree myself, I find it 'NO FUN' to constantly monitor my spending so that I stay within my preset budget. With this new endeavor I'm on my way to my monthly recurring residual income..

Ok. So much for that..and our article today is on the differing view / approach to retirement planning by Generation Y as compared to the traditional view held by older people. So ENJOY!

Malaysia Raises Retirement Age To 58 Years

2008-05-12T06:01:00.000-07:00

It’s now confirmed that the retirement age for the public sector employees in Malaysia is now 58 years. It was initially thought that the retirement age was to be raised to 60 from 56 previously.

As a direct result of better lifestyles and health care, Malaysians now live longer than ever and may live for about 20 years post retirement. Given their limited savings, most of them will need to find alternative jobs or do some part time work for at least a few more years after retirement to make up for their insufficient pensions and savings.

The increase in retirement age by another two years will thus help lessen the burden of these retirees as they are assured of another two years of gainful employment to add to their saving while at the same time help reduce their retirement years by the same amount.

Notwithstanding whether it is 58 or 60 years, the upward adjustment in retirement age is a natural progression for countries with lower retirement age as the case is in Malaysia - to be more in norm with the world’s practice. The standard retirement age for most countries in the world is 60 years.

18th Annual Retirement Confidence Survey

2008-04-13T07:18:00.000-07:00

Hi readers! Its good to be back again after lying low for about three weeks. I was not able to update my blog as some pressing assignments kept me away from the internet.

Anyway, for this current blog I'm presenting to you the result of the 18th Annual Retirement Confidence Survey.... Hope you'll get something good from it.

MFS Retirement Survey Key Findings

2008-03-23T02:53:00.000-07:00

Unexpected health costs and inflation are now top concerns for pre-retirees and retirees alike. And in line with these concerns, pre-retirees and even retirees are now expected to work longer and in most cases well into their retirement years.

This presents a new new shift on how people view their retirements. And the following article should interest those who are nearing retirement or planning to retire soon as it discusses the findings of the above survey. So enjoy.

Poll Shows One in Three Adults Do Not Have a Financial Plan for Retirement.

2008-03-12T07:22:00.000-07:00

All throughout this blog and also in my main website on retirement, I've always stressed the importance of having a retirement plan before you retire, so that you'll be able to plan the kind of lifestyle you'd want to have when you eventually retire. Having a plan will make you better prepared or equipped for the task. Indeed, there's wisdom in the often quoted phrase: "When you fail to plan you are planning to fail." You can read my article on Financial Planning For Retirement here.

So it really touches me when I read the following report that one in three adults do not have a financial plan for retirement. You can read the whole report below...

Retiring "Boomers" Start Second Careers

2008-02-28T06:33:00.000-08:00

Many baby boomers are retiring earlier than ever, but some want to try new jobs and give back to the community. In California many boomers are helping to reduce the teachers shortage in the state by returning to teach in schools there. You can watch the video here...

Reverse Mortgages On Rise

2008-02-18T06:33:00.000-08:00

What do you do when you're about to retire but don't have a large enough income to fund your retirement?

For homeowners, one way out is to take a loan against their homes. Now, increasingly more Americans are turning to reverse mortgages to fund their retirement. Read the following article for more..

What's Your Retirement/Pension Plan?

2008-02-12T07:00:00.000-08:00

Here's another very good advice on how to plan for your retirement. And its really important to realize from the start that only you can decide the kind of retirement lifestyle you're going to have - not your Financial Planner or your Retirement Planner.

Read the following report in its entirety and gain some insights on how to plan for your retirement.

Uncle Sam Matches Some 401(k) Deposits For Retirement

2008-02-04T07:06:00.000-08:00

Here's good news for low-income taxpayers in the US of A, who save for their retirement. Now, Uncle Sam is extending a helping hand by giving kick back up to $1,000 to reward this group of people as incentives to save for the purpose.

Read the accompanying report to learn more..

How Could the Current Market Volatility Impact Baby Boomers' Retirement Portfolio?

2008-01-27T04:40:00.000-08:00

If you are one of the millions of baby boomers set to retire this year the following PR Newswire report should interest you. The report points out to you where you can get answers to your questions. So keep on reading.

Retirement and Social Security Q&A 2

2008-01-17T08:17:00.000-08:00

I mentioned in my first Retirement and Social Security Q&A that social security formed a major component in one's retirement planning. It was also reported that social security represented 39% of a typical retiree's retirement income.

And as we are still fresh into the New Year, any questions on New Year's resolution are certainly most appropriate and welcomed. In the following report, this question pertaining to New year's resolution was recently asked together with another social security question from a married couple. So readers, enjoy your reading!

Tips For a More Financially Fit 2008 and Your Retirement Nest Egg

2008-01-09T19:41:00.000-08:00

I find the following financial tips very apt and relevant to my last posting on New Year Resolution and Retirement. Follow these tips and not only will your financial position improve, your retirement nest egg will also get a healthy boost as well.

I particularly like tips no. 1 & 2 whereby you are advised to save more and spend less. In my opinion these two are the pillars of your retirement planning and should be included in your retirement arsenal or tools. So readers, enjoy the following article and Happy New Year.

New Year Resolution and Retirement

2008-01-03T07:39:00.000-08:00

The year 2008 is here now and we are one year nearer to our retirement date; that is if we are not retired already. And most, if not all of us have already equipped ourselves with the usual New Year resolutions. Though I don’t really subscribe much for New Year resolutions, there is no better time than the beginning of a fresh new year to set your intentions to create your life the way you truly want it to be – and that includes the retirement lifestyles that you want. Presumably, you already have reviewed your retirement goals and objectives and already set up your own retirement plan to make it happens.

As it is, 2008 promises to be quite an exciting year for our American colleagues. There is at least a couple of developments that just or in the process of taking place that will have a bearing on retirement for retirees. Firstly, 2008 marks the first year that the first baby boomer starts to retire. The retiring baby boomers, the first of whom should have started retiring on January first, 2008 will bring wide-ranging effects on society - from economics to politics (see my blog on Retirement and Baby Boomers).

The second changes concerning retirement that will have an impact on the American population is the new law that went into effect on Dec 24, 2007 that makes it easier for employers to automatically enroll their employees in 401(k) and other retirement plans. To me, that is good news. All employees are going to benefit more, as more savings can be pumped into non-designated savings, which normally yield better returns. Granted it is a little bit risky but potentially more beneficial for all contributors. The provision, part of the Pension Protection Act of 2006, basically will help many more workers and their families build a nest egg for a secure and comfortable retirement.

With the two mentioned developments taking place in 2008, it would be interesting to see how 2008 will hold for us - both retirees and those still working alike.

Retirement and Baby Boomers

2007-12-27T07:55:00.001-08:00

I find the following AFP report on 'boomers' interesting. First, their vast numbers will have a wide ranging effect on society when they retire. And the first from that generation will soon retire in January 2008.

The most obvious would be the enormous funding required for social security payments. As I mentioned in my last posting, social security accounts for 39% of a typical retiree's income during retirement.

The second important transformation would be a new meaning they lend to retirement. The new generation of 'retiree boomers' will likely hold a different view of retirement lifestyle than their predecessors'. As more retirees spent their retirement by continuing to remain active in life through holding on some kind of jobs after retirement - whether out of financial necessity or otherwise, gone were the days when retirement simply means doing nothing. Hence, the new generation of retirees should be healthier, more active and by their sheer numbers would still have their clout on the country's economy and even politics. Read more of the report below and enjoy..

Retirement and Social Security Q&A

2007-12-20T11:01:00.000-08:00

For a majority of us, social security is going to be a major component in our retirement planning - a major source of our retirement income, our all important retirement nest egg. It is so important in fact that according to American Social Security Administration 2004, social security represents 39% of a typical retiree’s retirement income. You can read more about it here.

So, important questions like when to apply for the benefit and how to go about doing it are important indeed. And lucky you, both of these questions are answered here in the following report. So enjoy!

Prepare For Retirement: Students Get Lessons In Handling Money

2007-12-13T00:08:00.000-08:00

I have always believed that having the necessary financial skills and knowledge early in life will hold a person in good stead later on when they retire.

It is therefore very heartening for me to read about the interest and effort of 42 college students in Colorado, analyzing various financial issues from debt to retirement planning during their Personal Financial Planning class.

With solid financial knowledge, people will be better equipped to deal with any financial issues that may arise in life and be more prepared for their retirement.

Read more about it in the following report.

Unique Holiday Gift for a Child: Assistance Toward Retirement Security

2007-12-07T13:40:00.000-08:00

If you are looking for a truly meaningful gift for your newly born child or grandchild, what could be more meaningful than a gift of investment program for the child's financially secure retirement?

Through the power of compounding interest, an initial investment of as low as $5,000 would give the child a financially secure retirement when he/she reaches age 65.

You can read the whole report below.

Why a Retirement Business May Be For You

2007-11-30T08:20:00.000-08:00

People come back to work after retirement, whether as an employee, a self-employed, or going into business or even as volunteer workers are usually due to one or more of the following reasons:

Financial reason.
Bored/nothing worthwhile to do.
Need contacts/peer groups/sense of belonging to a community.
Love of what they are doing/find their life purpose/true calling.

While working at a retirement job may satisfy the above reasons, working at your retirement business may easily accomplish these purposes too and with a bonus to boot! – The possibility of achieving your more meaningful retirement lifestyles. Of course there’s a risk involved too as you may not be always successful. But then again if you do your homework right and evaluate your options carefully you’ll be able to tilt the odds in your favor somewhat.

Working at your retirement business may means accomplishing the following:

Freedom – a retirement business gives you freedom. You set your own terms: all the “what”, “when” and “where” you want to work and even the payout you want to have. When you’re successful, you’re also on your way to financial freedom. You have the potential to earn more as a business owner than an employee - the potential to design your own lifestyles.

Control – Working at a retirement business gives you more control of your endeavor, which you do not have the luxury of when you’re working for somebody else at your retirement job.

Feeling of achievement/satisfaction. Though you may get both whether you’re working at a retirement job or at your own retirement business, financial wise however, you have a better chance of achieving it by working at your own business rather than at your retirement job.

If you have been thinking about starting a retirement business of your own, now is the time to take action. You have the choice of starting either an online/Internet or an off line business. While there are merits and demerits of both business models, I prefer an online model to an off line one. You can read and get tips about starting an on line business by visiting my web page on Retirement Internet Business here.

Struggling to Retire? Planning Size of Nest Egg is Key to Financial Security

2007-11-25T14:39:00.000-08:00

Though it is never too early or too late to start thinking about retirement, planning early for retirement make you better prepared to retire. And you'll have more time on your side to let your retirement funds grow as well as to recover from any investment mistakes that you might have made.

And people who plan the size of their retirement nest egg early on as well as those with access to workplace savings plans such as 401(k)s are better informed and prepared to retire according to a recent AARP survey just released. Read the report below for more.

Tensions Arise In Marriages When A Spouse Retires Or Starts To Work At Home

2007-11-21T21:31:00.000-08:00

You may be financially prepared for retirement, but have you already considered the soft side of it - the non-financial side of retirement planning. Most people don't.

The following news article highlighted a common issue faced by retiring couples, especially when one of the spouse at home full time.

Read the following news article, absorb the advice/tips/guides it provides and use them to prepare for your own retirement.

If you are a webmaster or publisher, feel free to embed it on your site.

Top Retirement Savings Mistakes

2007-11-18T23:45:00.000-08:00

Here's another good advice from a retirement expert on common mistakes to avoid in saving for retirement. These common mistakes like not starting early enough, not curbing your spending and not diversifying your investments will cause you a hard time later on when you try to make up for the shortfall - when you are already nearing retirement.

Considering A Retirement Job During Your Retirement?

2007-11-14T10:02:00.001-08:00

Retirement is perceived as a time to take things easy as well as for you to enjoy your newfound freedom from work commitments. This is the time for you to indulge in your favorite activities and passion that you didn't always have the time for while you were working. As such, retirement jobs may be considered a misnomer but a survey conducted by Merrill Lynch found that 76 percent of baby boomers plan to do some kind of work during retirement. Many are planning active retirements that include a variety of jobs. An interesting question here is what drives people to seek for work after retirement? I'm listing a number of reasons why retirees go back to work here. And I'm sure you can also add other reasons to the list.

Many people become bored, restless or plain frustrated with little or nothing to do while in retirement. For these people, having a fulfilling retirement is about selecting new activities that continue to physically and emotionally fulfill them. For most, this may mean going back to work at retirement jobs after retirement - albeit at a reduced level of involvement.

Work gives a sense of purpose that everybody needs. That includes a place to go, peer contacts, responsibilities to discharge and a sense of camaraderie. Once retired, those needs don't simply go away - they just have to be filled in some other ways. One way to address this problem is to find your retirement job and start work - AGAIN!

Not having enough money during retirement might force many soon to be retirees to continue working well past their retirement age. And one of the main reasons people want retirement jobs is the chance to earn supplemental income and to add additional funds into their retirement savings accounts. By phasing their retirement for a few years, their retirement nest eggs will benefit from the injection of those extra years of savings into it.

Still, others will continue to work at some kind of retirement jobs simply for the love of it. These people find their true calling and sense of purpose while working at their new retirement jobs. They may not go for the money however, rather for the satisfaction that the job provides. These people might make use of the skills; experiences and expertise accumulated over the years while working at their previous jobs and use them to help others as consultants, motivators, mentors and coaches etc.

So what about you - do you need a retirement job yourself? If you're looking for one, finding your perfect retirement job is not going to be a problem. You can just go to http://www.retirementjobs.com and look for one.

Considering A Loan From Your Retirement Purpose 401(K)?

2007-11-08T15:54:00.000-08:00

Your 401(K) is your savings plan for your retirement. Its purpose is to provide you with a means of having some income to take care of your living expenses during retirement. Your 401(K) is not your financial lifeline for your current financial difficulties. However that is exactly what almost 1 in 4 of Americans are using their 401(K) for. Read the accompanying article and absorb the advice that the message is trying to put across. Enjoy!

Planning For Retirement

2007-11-03T00:13:00.000-07:00

Here's a good video for you to consider adding to your list of retirement planning tools. However as with most tools, it won't do you any good if you don't use them. So use this as your guide, tool or tips for planning your retirement. Finally follow the advice and start planning for your retirement early - the earlier the better!. ENJOY!

Blogging and Retirees

2007-10-28T17:16:00.000-07:00

In my recent article on Blogging For Retirees, I've discussed about why blogging is one that retirees can become involved in during their retirements. In the article I cited several compelling reasons as to why blogging is recommended for retirees. One of the most common problems faced by retirees is having too much free time, bored and having nothing worthwhile to do to fill up the time. And rather than becoming a couch potato after you retire and endangering your health, why not take up blogging as it can be one way you can spend your time by being productive. Here are several advantages of blogging that I can think of and I'm sure you can find your own reasons too:

Make better use of your idle time. This is important as numerous studies done in the past revealed that most retirees become bored after the initial excitement of retiring wears off. What better way of making good use of your free time other than blogging.

You should be active in your retirement life. Your body still needs you to be active as you age, otherwise, you'll grow old faster. Reading and writing are two simple activities that you can do in order to exercise the brain and keep you mentally active and sharp during retirement. Blogging can serve this purpose quite well.

Properly done and with enough commitment, blogging can be a source of additional income for you.

Now if you've thinking about doing blogging and find yourself not quite sure how to start, here's a good free course on blogging that you can participate. I found out about this free course brought by CNET recently. Go and register for the course at Build Your First Blog HERE!

The lessons are easy enough to follow and comprise of the following:

Articles or lessons broken down into 6 segments / installments.

Lesson assignments - after each lesson you are given an assignment to test your understanding of the lesson covered.

Classrooms and post comment sections - a platform for participants to post comments, ask questions or just to share experiences. This section is moderated by a CNET leader.

You can get the following benefits by participating in the class:

The lessons are free, easy to understand and you can participate at your own pace. You only have to register in order to participate.

Each lesson comes with a classroom session. You are encouraged to participate and post comments, ideas and query relevant to the lesson. You gain by not only getting your query answered, you can also see what issues, others are having. In short everyone benefits from the course. It speeds up the learning process as any one can contribute their own ideas/resources for the mutual benefits of all class members.

You'll meet a diverse range of people here, from all ages and occupational background as well as retirees looking for something to do in their golden years - either to fill up their free time or for additional income streams.

At the end of the lessons you will most probably have your questions on blogging answered. You'll be able to gain the necessary knowledge and will be able to build you own blog, know how to choose a hosting service and be on your way to write your own blog and can start taking steps to make your blog noticed. Not only will you be enriched with new knowledge, you also have an added bonus of making new friends as well. I myself have participated in the course and find it a very enriching experience. So for you retirees or would be retirees out there if you haven't participated in the class already, here's the link again to Build Your First Blog.

So my dear readers, I hope you find this article useful. For further resources on retirement please go to my website Retirement Resources Site HERE!

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