Saturday, February 27, 2010

How to Retire Happier and Richer

A recent Wells Fargo survey about the retirement preparedness of Americans age 50 to 59 showed that they are not that well-prepared.

Of this group , a third (67 percent) said their expectations for retirement had changed from those held a year ago, and over half (56 percent) expected to work longer by an average of three more years.

These baby boomers said that they require $800,000 in retirement savings, but have saved only $300,000 (median amounts).

This group also had not assessed how long their savings would last in retirement.

They expected to live nearly 21 years in retirement, but planned on spending nearly 10 percent of their savings every year in retirement.

The retirement industry recommendation is to withdraw no more than 4 percent annually.

Here is some retirement advice to help you retire richer:

    People who don't respect money don't have any.
    — J. Paul Getty,

    You are only as rich as the enrichment you bring to the world around you.
    — Rajesh Setty

    How easy it is for a man to die rich, if he will be contented to live miserable.
    — Henry Fielding

    Money is what you make it. Depending upon who you are — and your frame of mind — money can be anything you want it to be. Money can be: the root of all evil; or that which answers all things; or something that burns a hole in your pocket; or a means to freedom; or an interesting concept; or even a stupid concept. Whatever value you place on money, you must take responsibility for it. If money is evil to you, you created it being evil. If money is a problem to you, you created it being a problem. If money is joy to you, you created this concept. Take responsibility for your concepts. And be clear that these are just concepts. Nothing more and nothing less.
    — from The Lazy Person's Guide to Success by

    We have a balance of $0.32 in the bank … Which made us four-and-a-half trillion dollars richer than the federal government.
    — Jim Borgman

And here are some retirement planning resources to help you retire happier and richer:

Wednesday, February 17, 2010

Retirement News for Today

Here are some interesting facts relating to retirement planning:

    1. A third of Canadians have no RRSPs but even among those that do, 80 percent are not confident the investments in them will provide enough for Retirement, according to a BMO survey.

    2. One in four Canadians don't know how much retirement income and retirement savings they will need to retire. In other words, 25 percent do not even know how much retirement income is required to achieve a comfortable retirement. Interestingly, 54 percent estimate they'll need at least $550,000 in retirement savings.

    3. Most Canadians and Americans want to retire early, or at least by the age of 65. Incidentally, this retirement age has been the official one since the welfare state was founded by Otto von Bismarck in 19th century Germany. There are trends happening, however, that are creating a changing picture of retirement. Many people who were looking forward to packing it in are having to postpone retirement because of the economic downturn has forced them to reconsider their plans.

    4. The RBC survey showed that 90 percent of Canadians believe they will have enough money to cover retirement. But an RBC spokeswoman also said many Canadians underestimate the amount they will need once they stop work.

Retirment Planning for Retirees and the Soon-to-Be Retired Who Do Not Know How to Spell Retirement

Also see:

Be Love Now

Saturday, February 13, 2010

Top -10 Reasons to Never Have a Job

Here are the ten topics that Steve Pavlina uses in Top-10 Reasons to Never Have a Job

1. Income for dummies
2. Limited experience
3. Lifelong domestication
4. Too many mouths to feed
5. Way too risky
6. Having an evil bovine master
7. Begging for money
8. An inbred social life
9. Loss of freedom
10. Becoming a coward

Also see 10 Reasons to Never Work at a Real Job:

Then see How to Get Sponsorships Even If You Don't Have a Job.

Quotes about Work and Real Jobs:

    Trust not what inspires other members of society to choose a career. Trust what inspires you. From this decision alone will come over a third of your satisfaction or misery in your life.
    - from The Lazy Person's Guide to Success

    Find a calling you love and you will never work a day in your life.
    - Confucius

    To be successful, the first thing to do is fall in love with your work.
    - Sister Mary Lauretta