Feb 23, 2010

Latest Retirement News for Your Retirement Planning

Here is the latest retirement news, some of which is not that pleasant:

The first item is about how the U.S. will likely not be able to pay its Social Security to its citizens:
    There was a $1 trillion gap at the end of fiscal year 2008 between the $2.35 trillion states had set aside to pay for employees’ retirement benefits and the $3.35trillion price tag of those promises, according to a new report released by the Pew Center on the States. The shortfall, which will have to be paid over the next 30 years by state and local governments, amounts to more than $8,800 for every household in the United States.

    The figures detailed in Pew’s report, “The Trillion Dollar Gap,” include pension, health care and other non-pension benefits promised to both current and future retirees in states’ and participating localities’ public sector retirement systems.

    Pew’s numbers likely underestimate the bill coming due because the most recent available data do not account for the second half of 2008, when states’ pension fund investments were particularly affected by the financial crisis. Additionally, most states’ accounting methods spread the investment declines over a period of time–meaning states will be dealing with their losses for several years.
The second item is about how the economic downturn has changed people's Plans for Retirement.

Feb 10, 2010

Canadian Retirement More Pleasant Than American Retirement

A survey by TD Bank indicates the reality of retirement living in Canada is a lot closer to what people had imagined than it is in the United States.

Almost 70 percent of Canadian retirees versus less than 50 percent of Americans say their retirement life is exactly or close to what they thought it would be.

What's more, thirty-eight per cent of Americans said they definitely hadn't saved enough for retirement, and 28 per cent said they might need to find a retirement job to supplement their income. For Canadians, those numbers were 21 per cent and 10 per cent, respectively.

As well, twice as many Americans as Canadians are worried that they might run out of money — 25 per cent versus 12 per cent.

Here are a few Retirement Quotes to help you enjoy retirement life:

    Retirement is wonderful. It's doing nothing without worrying about getting caught at it.
    — Gene Perret

    In retirement, every day is Boss Day and every day is Employee Appreciation Day.
    — Unknown wise person

    Retirement Poem About Travel
    The fabric of my faithful love
    No power shall dim or ravel
    Whilst I stay here — but oh, my dear,
    If I should ever travel!

    As I get on in years, I also realize that I want wisdom, not knowledge; that I value being right with people more than simply being right; that I want to fight the battles that to me really matter. Growing older also means reaching out, doing things for people who’re in settings less fortunate than those I’m in.
    — Singapore Retiree CHUA CHONG JIN

    Viva la retirement, grab it by the horns and go for it.
    — Cheryl Marland
Here are a few resources for your retirement plan:

Feb 2, 2010

Retirement Planning - Advice from the Rich

Advice from the Rich to Help You with Your Financial Retirement Planning

    Your prosperity consciouness is not dependent on money; your flow of money is dependent upon your prosperity consciousness.
    - Louise L. Hay

    Even if you don't have any money, you can create for your mind the reality that what you do have is overwhelming abundance.
    - Anxiety Culture

    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

    Your wealth can only grow to the extent you do.
    - T. Harv Eker

    Many an optimist has become rich by buying out a pessimist.
    - Robert G. Allen

    The rich don't work for money.
    - Robert T. Kiyosaki

    The man who tips a shilling every time he stops for petrol is giving away annually the cost of lubricating his car.
    - J. Paul Getty

    Never pay the slightest attention to what a company president ever says about his stock.
    - Bernard Baruch

    The only time to buy these is on a day with no "y" in it.
    - Warren Buffett

For Where to Retire See: