Archive for the ‘Retirement’

  • A man with a plan>
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    A man with a plan
    Retirement is a great time to just be you and spend money on the things you like to do whenever you want to do it. An acquaintance of mine certainly seems to believe so strongly and he shows this quite amply in the way he spends money at times (in my eyes most certainly) in meaningless ways. A lot of his money goes towards maintaining and restoring antique cars, an expensive hobby that takes a giant chunk out of anyone’s savings. Hobbies and interests such as this can take its toll on your retirement portfolio, so be aware of this when planning for your retirement. Let’s carry on with the example of the petrol-head, shall we? If he was making $15000 month prior to retirement, a good 60 to 70 percent of his income would have been going towards meeting his lifestyle needs, a further 20% or  [...]
    at August 30th, 2010 at 01:08 am
  • Retirement Redefined By Daniel Solin>
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    Retirement Redefined By Daniel Solin
    Recently I read the book ‘The Smartest Retirement Book You’ll Ever Read’ by Daniel R. Solin. This is probably different for other books. The personal finance books that I generally enjoy reading are the ones that add new insights to existing topics. This book too has some great points about retirement. Let’s explore the key points one by one. 1. Rethink Retirement Investment Solin mentions it very bluntly that if you don’t protect your retirement investment against inflation, you will run out of money much soon than you anticipate. Inflation is the only thing that can ruin your retirement plans. It can depreciate the value of money. So, the money you are saving now will worth much less during your retirement. So, what’s the solution? You can keep certain amount of your investment  [...]
    at July 14th, 2010 at 03:07 am
  • I Have Quit My Job!>
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    I Have Quit My Job!
    I have resigned last evening, and by the end of July 2010, I will be at home, without any stress. Quitting a job, however, is quite a scary situation. And before you make this decision, make sure you have things in place. If you are planning on early retirement, there are several things you need to consider. Why I did I make such a decision? Here are some reasons. Individually, they might not be quite powerful, but they all balled together. More Time to Family Managing a full-time job, and few personal blogs had made my life quite hectic. And I simply wasn’t able to devote any time to my family, which my wife keeps grumbling about, all the while. Besides, I have two kids, whom I want to spend more time with. More Time to Write Every individual has personal preferences, or some hobbies.  [...]
    at June 23rd, 2010 at 01:06 am
  • Tax Sheltered Annuity Plans For Retirement>
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    Tax Sheltered Annuity Plans For Retirement
    Tax Sheltered Annuity, or simply a TSA, is a plan that permits employees of public organizations to contribute some amount every month, without paying taxes on it. So, the contributor can invest of part of his gross annual income toward a tax-sheltered plan (403(b) or TSAs). People who are eligible to contribute toward such plan includes employees in public schools (1 to 12), universities, colleges, churches, charity organizations, and libraries. The contributor must keep investing in this plan until the age of retirement (59 ½ years) to receive tax benefits. If he withdraws money after retirement age, taxes applicable on such withdrawals are comparatively low. The funds toward which the contributor has to pay is usually chosen by the employer. Quite similar to other retirement plans, transfer  [...]
    at June 14th, 2010 at 03:06 am
  • Money Smartness And The Human Mind Connection>
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    Money Smartness And The Human Mind Connection
    What does your frugality quotient show? Does it increase as you grow older? Or do you feel you’ve reached a point where your frugality has attained a steady level from which it refuses to nudge? Or do you think that you have reached the pinnacle of fiscal enlightenment and are sliding down the slope right now? Well, this is individualistic. Behavioral economist, David Laibson and associates have conducted a study and released a report on how the levels of monetary wisdom change with age. In their very interesting  paper “The Age of Reason: Financial Decisions over the Life-Cycle with Implications for Regulation” which is yet to be released, they say that though your experience and age help in increasing your fiscal wisdom till a certain stage of your biological growth, with oldage ,  [...]
    at November 25th, 2009 at 01:11 am