Clark, Robert, and Sylvester Schieber. "The Shifting Sands of Retirement Plans." World at Work Journal, (Fourth Quarter 2000): 6–14.…
There are two topics that I believe are the most important for adults to know and understand. The first of the two topics is credit cards/credit card debt. I do not have credit cards and I grew up in a family that believed that if you do not have the money to buy whatever it was that you wanted, you did not need it until you saved that money up. My family-as far back as I can remember-never believed in credit cards, or even credit for that matter. The second topic that is most important for adults to understand is the difference between Roth IRA’s and 401K’s. It is important to understand what your work will contribute, how long it takes to mature and what is the penalty rate if you were to prematurely take money out of your 401K.…
Is there still good enough time for your retirement? You still can explore the ideas of retirement plans. To have a prolific and profitable “written plan” consult Squam Lakes Financial Advisors. Visit: http://www.squamlakesfinancial.com/retirement-planner/…
An intermediate goal is working with my financial advisor, John to better invest my income. The short-term goal that will benefit is working a second job. In case unavoidable events appear such as health needs then I will consider working on holidays to make up for past sickness. Keeping my family involved and also financial advisors to set some limitations for a monthly budget will assist with controlling incoming income. Obtaining $500 in savings each month will present a better financial status which will help in purchasing a house after graduation When I am 30 and better credit rates will come forward with the desire of going for another 4 years in getting a master’s degree in Education as well as learning a valuable lesson to save money for when It is most needed, For example when I reach the age of 60 and is in the need of a retirement home. I would like to make sure that I have at least $ 10,000 saved by the time I am 27 years old as well as putting aside $5,000 for difficulties such as health benefits getting dedicated due to job…
Especially in areas such as the United States, where studies show that the government pension option will more than likely decrease and that one could probably not retire with this benefit alone, the availability of a retirement plan is a great recruiting and retention tool. As in many countries, part of an individuals plan to enter the workforce is their plan to eventually retire at some point. In the United States, there are numerous types of retirement plans available and often times these benefits have tax incentives to promote and individual to save for their own retirement. So, in addition to having a retirement plan at a company’s disposal, a company’s choice of the type of retirement plans available is a very large recruiting and retention tool. Historically in the United States, defined pension plans were the most beneficial plan as it guaranteed a certain benefit according the defined benefit formula. At the time that these plans were popular, turnover among companies was a lot lower. The problem with most defined benefit plans is that they lack portability and a person deciding to leave the company before a certain time would lose the majority of their benefits. As time has evolved, the companies providing retirement plans evolved with the changing job market, and increasingly offered defined…
It’s never too soon to start planning for retirement. All financial advisors agree that the earlier you start to save for your retirement, the better off you’ll be when you reach retirement age. So how is your retirement savings? Did you wake up one day and realize that you don’t have anything in place besides Social Security? Don’t worry, for most people if you’re still working there’s still time to build up some supplemental retirement money that you can use when you retire. The two most common retirement savings options are an individual retirement account, or IRA, and 401k plans. To decide which option is best for you, it is important that you know the differences between the two. Let’s cover the basics for each plan, and also a…
Two things that will affect your personal beliefs and opinions about financial planning are stepping back and looking at where you are in…
I sequenced my paragraphs as such to show my audience the severity of Social Security benefit decline in the near future. Most people are not aware of how Social Security even works. I had chosen this topic because I do not agree with the idea, that there is no need for retirement plans because Social Security pays for itself. That thought process is false. I am here to disprove that claim and show my audience that is imperative to have a retirement plan as soon as you are employed. The earlier the better and having more than one is ideal.…
Having good and/or adequate financial means during retirement becomes an important factor to all employees at some point in their working career. The United States government currently offers Social Security Benefits to retirement age citizens to supplement their retirement income. However, Social Security Benefits are not guaranteed to be available for people who become of retirement age in the upcoming years. This is one of the many reasons to consider alternative savings plans to fund retirement.…
Planning for my future is extremely important for me especially because I decided to go back to college at an older age. I am currently 26 years old, married with no children. While I am currently attending school part time because of my full time work schedule, I intend to continue taking classes during winter and summer sessions to make up for the extra credits and continue on a full time pace.…
In the United States, many people believe that Social Security will be enough to support them upon retirement and have not prepared themselves adequately by establishing pensions, retirement plans and savings accounts. Believing this way can get many people into trouble once they reach an age that they would like to retire. These people are finding out that Social Security is just not enough by itself. Many people are discovering that they need other means of income along with Social Security to survive and pay the bills. If this has not been planned for ahead of time, many people find themselves working past retirement age, or moving in with family as a means to get by. When Social Security was created, the idea was that it would support a person upon retirement. However, at that time, people were not living as long as they do now and the standard of living was much lower. In 1930, the Census, which is a count of all of the people in the United States, found that 58% of men over 65 were still working; by 2002, the number had declined to 18% (New York Times, Nov. 11, 2010). A fact such as this is something that could put a significant strain on the Social Security Administration making many wonder if it will be around for much longer, considering Social Security did not make adjustments for inflation, it pays more than just the retired worker, and the baby boomer generation was not expected when it was created, with little solutions to resolve these issues.…
Eventually everyone wants to retire. In order to do that we need enough income to live on but not everyone has the luxury to have financial stability. Since the mid 1930s, the government has tried to ensure that everyone should at least have some income after leaving the workforce.…
Harriet Tubman, who’s birth name was Araminta Ross, was born near Bucktown in Dorchester County, Maryland. Unfortunately, Tubman was born into slavery and many of her documents were not able to be saved. When Harriet, Araminta at the time, was born, she was nicknamed “Minty” for her real name. Absolutely nobody knows what year Harriet was born. Harriet was a tough woman, surviving through the most difficult obstacles that could come upon her. Being born into slavery, her life began hard and did not ease up any throughout the entirety. Edward Brodess, the plantation owner which Harriet and her parents, Rit and Ross lived, made the family move entirely away from their home and Harriet’s father to his new farm to work (Larson). They did not get…
Ellen Hoffman’s, “Social Security, Will You Get Yours?” is an article that goes over the main issue with social security; will you get your social security when the time comes for you to retire? This article discusses a very real and important topic for every United States citizen who will ever be even remotely dependent on social security for some type of income.…
As I begin my personal financial plan, I will start with my goals for different points in my life. This will outline the overall plan for getting my finances in order. Even though I may not have enough time to complete my goals, completing my goals are important because of financial well-being and being able to retire comfortably.…