Apr 28, 2008

A Letter about The World's Second Best Retirement Gift - One of Three Retirement Gifts by Ernie Zelinski

I received the following e-mail about The Joy of Not Working from Ye Xianlong, a Singapore resident, today (April 28, 2008):

    Hi Ernie,

    I enjoyed your The Joy of Not Working.

    Rat race is more damaging than ever. Like cancer eating away at fabric of society. Technology is suppose to let us have more leisure time but it did the opposite for many people.

    Work epidemic that you mention has infected Singapore a great deal.


    Here the government launched family day out. Too many people are working long hours & sacrificing family.

    Some of reasons are:

      - increasing foreign workers competition
      - foreign workers have no family & friends so long hours; locals struggle
      or get fired
      - rising costs of living
      - keeping up with the joneses
      - increasing workload (cost cutting)
      - instant stress (people expecting instant replies to cellphone msg,
      blueberries etc)
      - increasing information overload

    Thanks for your unorthodox books.

    Less clutter,

Retirement Gifts
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How to Retire Happy, Wild, and Free - The World's Best Retirement Gift

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The Joy of Not Working - The World's Second Best Retirement Gift

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Apr 23, 2008

Army Retirees Warned to Watch Out for Their Wives

This comes from the Uganda's The New Vision,

Retirees Urged to Watch Out for Detoothers

The UPDF 3rd Division commander, Brig. Patrick Kankiriho, has advised retiring soldiers to watch out for spouses who love lavish lifestyles.

“If your spouse is a spendthrift and is not willing to adjust, abandon her, as she is bound to lead you into misery.”

He made the remarks on Friday during a function at Rubongi Barracks in Tororo district where 57 UPDF soldiers retired. He told the retirees that they had left the army with a modest financial package which they should invest wisely.

“Irresponsible spouses are planning how best they can get a fair share of the money you have worked for before eloping away with other men.”

He added that such women prefer staying in the cities. “She will insist that you rent an apartment in town then she will lure you into spending money on luxuries till it is finished.”

Kankiriho also cautioned the soldiers against over drinking. “If you do that, you will never regret why you retired from the force,” he added.

This bit is a great
Singles Advantage to add to the revised edition of The Joy of Not Being Married:

Over 90,000 Copies Sold
Published in 7 Foreign Languages

Purchase How to Retire Happy, Wild, and Free on Amazon.com before you submit your retirement letter with this direct link:

Retirement Planning Image

Apr 18, 2008

Retire Early - Are You Crazy?

Note: Another article about the best places to retire in the world by Ernie J. Zelinski was originally published with the title Retirement Planning Tips on the Best Places to Retire on several websites. Check out Where to Retire Quotes on The Retirement Quotes Cafe:

According to MotleyFool.com, more than 39 percent of individuals who are presently in or near retirement have saved less than $25,000 for their golden years. Apparently this is the lowest American savings rate since the Great Depression and will interfere with retirement income and their retirement happiness.

Actually it's worse than that. Happiness in retirement may be even more elusive so that it takes a lot longer to when you can submit your retirement letter. Check out the numbers from the RCS. They reflect the total savings and investments (not including the value of the primary residence) of today's workers, by age group:

- - - - - Less than $25K - $25K-$49.9K - $50K-$99.9K - $100K-$249.9K - - 250K +

All Ages - - - - - 53% - - - - - - - 12% - - - - - - - 12% - - - - - - - 11% - - - - - - 12%
25-34 - - - - - - - 73% - - - - - - - 11% - - - - - - - 7% - - - - - - - - - 4% - - - - - - - 5%
35-44 - - - - - - 49% - - - - - - - 14% - - - - - - - 16%- - - - - - - - - 12% - - - - - - - 9%
45-54 - - - - - - 44% - - - - - - - 14% - - - - - - - 12% - - - - - - - - - 15% - - - - - - 16%
- 55+ - - - - - - - 42% - - - - - - - 8% - - - - - - - - 2% - - - - - - - - 12% - - - - - - - 26%

Source: Retirement Confidence Survey, April 2006.

Note that according to the above figures, half of the people 55 and over have saved less than $50,000 for retirement.

Almost a Third of British Retirees Move to a Different Residence Once They Retire

Almost a third of retired people in Britain are forced to move to a new home, according to research conducted by Saga Home Insurance in April 2008.

The researchers at Saga believe that a strong reason behind their findings is the soaring cost of living, with food and energy costs rising particularly quickly. Saga also found that 38 percent of retirees discovered that their actual financial situation was worse than they had expected. In total 31 percent of retired people have moved to a different residence at least once after retiring, contrasting a mere 8 percnet or retirees who intend to move once they enter retirement. So where to retire? The top priorities retired people look for in a new home include a friendly neighbourhood and good shopping facilities.

Apr 15, 2008

Retirement Planning - How Much Money Do You Need for Retirement?

Contrary to the advice of those financial advisers who recommended you need 70-80 per cent of your pre-retirement income to retire comfortably, most retired people get by on a lot less.

Surprisingly, research by Statistics Canada found that people whose pre-retirement income was $70,000 or greater tended to retire on about 45 per cent of that – or around $31,500. Those who earned around the average national wage – between $40,000 and $50,000 – retired on 59 per cent of their pre-retirement income.

Most interestingly, only one in six people with a pre-retirement income of $40,000 or more had a replacement ratio of 75 per cent or more.

The Spoilers - Countries Against Early Retirement

  • Britain plans to gradually raise its age of retirement at which full state pensions will kick in. By the year 2044, the U.K,'s retirement age will be 68.
  • The U.S. and Germany also plan to raise their retirement age to 67.
  • Italy and Belgium have already raised their age of retirement to 60
Interesting Retirement Fact

Two-thirds of Canadians retire before the full Canada Pension Plan/Quebec Pension Plan benefit age of 65, oftentimes involuntarily. What does this mean?

What Would You Do If You Could Replan Retirement? — Top Five Replies from Retirees
  • Save more or save less money — 39 percent
  • Take better care of their health — 29 percent
  • Live closer to their children — 24 percent
  • Retire earlier — 23 percent
  • Get involved in more hobbies — 21 percent

Apr 11, 2008

Retirement Plan Assets Based on Demographics

An EBRI study describes the influence of some demographic factors on the distribution of individual account retirement plan assets in 2004:

By race:
90.5 percent of assets were held by white non-Hispanics.
9.5 percent of assets were held by nonwhites
By education:

14.2 percent of assets were held by individuals with a high school diploma or less.
10.7 percent of assets were held by individuals with some college education.
75.1 percent of assets were held by individuals with at least a college degree.

By annual family income:

11.3 percent of assets were held by individuals with incomes of less than $50,000.
25.6 percent of assets were held by individuals with incomes of $50,000 to $99,999.
63.2 percent of assets were held by individuals with incomes of $100,000 or more.

Retirement Sayings and Retirement Quotes — Definitions of Retirement

Retirement to me does not mean nothing to do but the realization of the decisions I made in the past. That I made in my life.
— Jack Bowman

Retirement: The time in your life when time is no longer money.
— Unknown wise person

Abundance isn't a matter of acquiring how much money you desire; it's a matter of being happy with how much you presently have.
— Unknown wise person

It's better to be out of money than out of new creative ideas on how to make money.
— Unknown wise person

NOTE: For a great selection of retirement quotes and retirement sayings, go to the Retirement Quotes Webpage at The Joy of Not Working Website:

Retirement Quotes at The Joy of Not Working

Check out Ernie Zelinski's Blog on Morgan James Publishing

Apr 9, 2008

Do You Have Retirement Planning Worries? - Some Money Quotes to Put Things In Proper Perspective

The Employee Benefit Research Institute's annual survey, released on April 9, indicates the weakest worker confidence in seven years regarding retirment.

Only 61 percent of individuals said that they were "very confident" or "somewhat confident" of having enough money for retirement. That was down from 70 percent in 2007. What's more, this was the poorest showing since 63 percent in 2001, when the economy was in recession.

The percentage of workers who put themselves in the "very confident" category dropped to 18 percent this year from 27 percent last year. The 9 point drop was the biggest in the survey's 18 years history, EBRI said.

Confidence among already retired workers also fell, with just 29 percent saying this year they were "very confident" they had enough for a comfortable retirement, down from 41 percent in 2007, according to EBRI, a nonprofit group based in Washington, D.C.

Temple University business professor Jack VanDerhei, who was co-author of the study, said that workers and retirees were reacting to the many things currently hurting personal finances, from rising gas prices to the decline in home values and the drop in portfolio balances.

"The economy and health costs are major concerns," said EBRI President Dallas Salisbury. "If there is a silver lining, it's that Americans finally may be waking up to the realities of being able to afford retirement."

The good news, it appears, is that most Americans are trying to save money for their later years.

Some 72 percent of workers said they have saved some money toward retirement, while 64 percent are putting away money. Unfortunately, 22 percent of workers say they have no savings of any kind, the study found.

Retirement savings are not all that great, however.

Nearly 50 percent of workers have set aside less than $25,000 for their retirement, while 24 percent have $25,000 to $99,999, 15 percent have $100,000 to $249,999, and 12 percent have $250,000 or more. The figures do not include the values of primary residences or pensions.

Four Retirement Sayings and Retirement Quotes about Earning Money to Help Your Retirement Planning

Money will appear when you are doing the right thing in your life.
- Michael Phillips

Money is the seed of money, and the first guinea is sometimes more difficult to acquire than the second million.
- Jean Jacques Rousseau

It's no trick to make a lot of money, if all you want is to make a lot of money.
- Everett Sloane in the movie Citizen Kane

To be clever enough to get a great deal of money, one must be stupid enough to want it.
- George Bernard Shaw

Check out Ernie Zelinski's Blog on Morgan James Publishing


Ernie Zelinski on Book Tour

Other Websites or Blogs for Information about Ernie:

Ernie Zelinski's Retirement Articles on American Chronicle

Ernie Zelinski's Blog on Amazon.com

The 237 Best Things Ever Said about Retirement

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