Retirement Planning

By Rasheed Alnajjar

RETIREMENT PLANNING For most people, retirement is perhaps one of the most critical phases of their lives. Because of its importance, it needs to be carefully planned for, to make it possible for the retiree to enjoy his golden years in peace and comfort. For this to be achieved, a percentage of one's income is set aside or saved to gain financial freedom in retirement thus making the need for gainful employment optional rather than necessary. But it's not as easy as it sounds. For many people, whether employed or in self-employment, the goal of having a comfortable retirement, is an incredibly elaborate and extensive process that needs careful and focused planning and years of patience and persistence.

Interestingly, the process of planning and managing retirement finances does not end when one retires. It’s an ongoing responsibility that is carried on well into the retiree's sunset years. Many people attempt to make their retirement plans, but only a small percentage manage to come up with a plan that can sustain them through retirement. The more significant majority, try it with devastating consequences, ultimately making them lead difficult, miserable lives full of financial challenges. Whereas it's good to be actively involved in the planning of all matters that affect your financial future, it's wiser to engage the services of an ethical and professional financial adviser to take care of your retirement planning. This is true irrespective of one's social, economic or educational background.

 

What you will learn in this book:

 

Retirement Planning

Begin Your Financial Retirement Planning Now!

Start Saving For Retirement From the Early Years

Retirement Investment: Save Your Money Well

Retirement Advice From Active Retirees

Pension Plans Help Secure Your Future in Advance

Best Retirement Savings Plans to Consider

 

While putting together a retirement plan is something everyone should do it can be challenging to set aside funds for the future. Numerous individuals lost much of their life savings due to economic hardships. Many people who had plans in place have to start over from scratch to rebuild their nest egg.

• Language: English
• Publisher: Publishdrive
• Release date: Apr 5, 2019

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CONCLUSION

Retirement is one of life's greatest stresses, and retirement plans assume a significant job in giving a wellspring of income in an individual's patient years. Retirement can range up to 33% of a lifetime. Retirement plans are much similar to saving for a 25-year get-away. To manage the cost of a cost of that greatness an individual needs to begin planning early. Age critically affects one's capacity to spare.

The Social Security framework, organization retirement arrangements and individual lifetime savings are the three sources from where reserves are attracted to pay for costs after retirement. There are a few plans that benefit managers and workers alike.

A plan that does not meet the prerequisites of the IRC or ERISA is known as a non-qualified retirement plan. These plans are regularly used to give conceded pay to crucial representatives. The program enables more extensive adaptability to a business, and in this manner, they don't get charge derivations until the representative gets continues from the plan.

A characterized benefit plan is a joint organization annuity plan. The retirement benefit is measurable as a dollar sum or as a level of wages. These plans are supported altogether by the business, and the obligation regarding installment of the going with benefits rests with the company.

A characterized commitment plan is a retirement plan in which the commitment is described, however, a definitive measure of benefit to be paid isn't. The substantial interest at the time of retirement relies upon the sum contributed throughout the years and on the investment execution of the record as the years progressed. In this retirement plan, the investment hazard may rest exclusively with the worker. These plans are