RETIREMENT PLANNING

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RETIREMENT PLANNING

• DR. NEIDERMEYER

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FOCUS POINTS

• YOUR BODY
• YOUR MIND
• YOUR SPIRIT
• YOUR WALLET

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PERSONAL CHECKLIST DO YOU HAVE ..?

• A HEALTH AND EXERCISE PLAN
• A PLAN FOR LEISURE TIME
• A COMPLETED INSURANCE REVIEW
• GOOD MEDICAL INFORMATION
• A PLAN FOR VOLUNTEER INVOLVEMENT
• A LEGAL WILL OR ESTATE PLAN
• AN EXPANDING LIST OF FRIENDS

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CHECKLIST CONTINUED

• ENOUGH HOBBIES
• AN UNDERSTANDING OF RETIREMENT
• A SECURITY ANALYSIS OF YOUR HOME
• AN INCOME CONTINUATION PLAN
• A CHOICE OF RETIREMENT LOCATION
• A PHYSICAL EXERCISE PROGRAM
• AN EDUCATIONAL PROGRAM

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CHECKLIST CONTINUED

• AN AWARENESS OF THE AGING PROCESS
• SOME TRAVEL PLANS
• A RELAXATION PROGRAM
• AN AWARENESS OF SOCIAL SECURITY
• A WRITTEN FINANCIAL DATABASE
• AN AWARENESS OF OTHER CAREERS
• AN UNDERSTANDING OF YOUR PERQS

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ATTENTION GETTERS

• Go to the following website to determine if
  retirement planning is necessary for you
• www.livingto100.com

• Access this site if you had an acceptable
  timetable offered by the other website
• www.analyzenow.com

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COMPONENTS OF RETIREMENT PLANNING

• BIOLOGICAL
• SOCIOLOGICAL
• PSYCHOLOGICAL
• FINANCIAL

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BIOLOGICAL CONCERNS

• DEVELOP AN AWARENESS OF THE NORMAL AGING
  PROCESS.
• KEEP PHYSICALLY FIT PROPER DIET, EXERCISE, AND
  MONITORING.
• KNOW YOUR EXPOSURES ARTHRITIS, DIABETES, HEART
  DISEASE AND VISION/HEARING DEFICIENCIES
• STAY ABREAST OF MITIGATION TREATMENTS

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SOCIOLOGICAL CONCERNS

• SAMUEL JOHNSONS QUOTE, A INDIVIDUAL, SIR, MUST
  KEEP HIS/HER FRIENDSHIPS IN CONSTANT REPAIR.
• CONTINUE TO EXPAND YOUR FRIEND CIRCLE AND ACCEPT
  YOUR NEW ROLE.
• ENGAGE IN VOLUNTEER PROJECTS AND AVAILABLE CLUB
  ACTIVITIES.
• SUCCESSFUL ADAPTATION IS CRITICAL

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PSYCHOLOGICAL CONCERNS

• LEARNING IS INFLUENCED BY MOTIVATION AND RESPONSE
  TIME.
• DEVELOP PLANS FOR HOW YOULL SPEND YOUR EXPANDED
  TIME.
• LIST 10 PERSONAL GOALS YOUD LIKE TO ACCOMPLISH
  WITH YOU NEW FREEDOM.
• KEEP AN ACTIVE LEARNING FOCUS.
• MEMORY IS ADEQUATE FOR MOST TASKS.

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RETIREMENT CHOICES

• WITH HOW MUCH?
• WHEN?
• WHERE?
• WITH WHOM?

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LEGS SUPPORTING RETIREMENT

• Social security
• Company / Self-funded pension
• Personal investments / savings

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FINANCIAL CONCERNS

• ESTABLISH A WORKING RETIREMENT BUDGET.
• DO NOT SPEND TOO MUCH TOO FAST FROM YOUR
  RETIREMENT NEST EGG.
• REVIEW YOUR FINANCIAL REQUIREMENTS EVERY 3
  MONTHS.
• REDUCE YOUR STRESS BY LIVING WITHIN YOUR MEANS.

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THE RETIREMENT NEST EGG

• EARLY PLANNING IS ABSOLUTELY NECESSARY.
• YOU SHOULD BEGIN PLANNING FOR RETIREMENT WHEN YOU
  ACCEPT YOUR FIRST CAREER POSITION.
• A GENERAL SUGGESTION IS SAVE 10 OF YOUR INCOME
  EACH PAYDAY FOR RETIREMENT.

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THE RETIREMENT NEST EGG CONTINUED

• HOW MUCH YOU HAVE SAVED FOR RETIREMENT WILL
  DEPEND ON THE FOLLOWING
• WHEN YOU START SAVING.
• HOW MUCH YOU SAVE.
• THE PERFORMANCE OF YOUR INVESTMENTS.

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MISTAKES AFFECTING RETIREMENT FUNDING

• Forgetting about inflation
• Underestimating taxes
• Underestimating the time / money to be spent in
  retirement
• Improper asset allocation
• Unrealistic expectations
• Failure to consider health issues
• Failure to interface with estate plans

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TIMING FOR RETIREMENT

• TRY TO KEEP TIME ON YOUR SIDE
• -EARLY
• -MANDATORY
• -VOLUNTARY
• -FLEXIBLE

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RETIREMENT LIVING ARRANGEMENTS

• STAY PUT
• MOVE (WHERE?)
• TYPE OF LIVING ARRANGEMENT
• SECURITY CONSIDERATIONS
• ACCESSIBILITY CONSIDERATIONS

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COMMENTS ON LIVING ARRANGEMENTS

• Most older men live with spouses.
• Over half of older women live alone.
• Most nursing home residents are women.
• Most elderly live within 30 minutes to an hour
  from family.

• Most elderly are in daily contact (at least by
  phone).
• Most prefer to live by themselves.
• Family members provide major support for the
  independent living arrangements.

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INFORMATION ON LIVING ARRANGEMENTS

• Access the following website to obtain
  descriptions of various alternative living sites
  and arrangements www.retirementliving.com

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PLAN YOUR RECREATION

• HOBBIES
• TRAVEL
• RELAXING
• SOCIALIZING

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COMMENTS ON RECREATION

• Involvement usually reflects earlier interests.
• Lower income does not preclude involvement.
• Physical changes may influence participation.
• Activity promotes well-being.

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RETIREMENT ASSIGNMENTS

• Start Early!
• Continue to fund and plan regardless of
  circumstances.
• Re-balance in accordance with your goals.
• Live so you can enjoy the fruits of your saving!