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Retirement planning - Things to Consider While Saving

by anonymous

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"Rest is not idleness, and to lie sometimes on the grass under trees on a summer's day, listening to the murmur of the water, or watching the clouds float across the sky, is by no means a waste of time." says a meaningful quote about retirement. Retirement is a period of life when a person has the leisure to enjoy all his dreams and dwell in things he/she ever wanted to do. However, the end of an active working life also signals the end of a stable income that makes it imperative to plan a retirement wisely. A Retirement planning guide should be considered by those looking to plan their retirement.

A comprehensive retirement planning guide provides the following advice for financial security in the retirement years-
• It has been observed that almost 60% of people are late in planning their retirement. Any individual planning a retirement may take the first step forward by using their current income as the starting point of their retirement.
• It is imperative to project the retirement expenses and it should be enough to meet the annual expenses during the retirement years. It should also be noticed that the inflation is bound to rise so by the time an individual retires. This implies an increased annual budget in order to sustain the same lifestyle.
• Common expenditures should e considered while planning for a retirement income that may include food,clothing,housing,transportation,insurance,health,taxes,debts,education,gifts,savings,recreation,care for the parents and other miscellaneous expenditures.
• The age when an individual wishes to retire should also be considered as it helps to plan the retirement income better and work towards it. Personal and financial goals can be easily focuses upon by choosing a viable age for retirement. It is also important to consider an average life expectancy as it helps to prevent any case there might be a risk of outliving the retirement income.
• In addition to investing in a traditional petition plan there might be other ways to save for a retirement that may include social security, 401 K, IRA, annuities and other investments. These can easily be used to overcome any shortcomings in the retirement income.

Retirement planning guide helps an individual to save well and live the golden years of his/her life to the fullest. Visit for further details.

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