Plan for Retirement

No Plans To Increase Retirement Age To 65

The Government is not planning to increase the mandatory retirement age from 60 to 65, as reported by some media.

In a statement, Women, Family and Community Development Minister, Datuk Seri Rohani Abdul Karim said, the matter has to be refined through extensive research, as it involves various agencies, and a complete policy change.

She however said, the government is always open to any suggestions from all parties, including the Public Service Department, JPA, regarding the matter.

Datuk Seri Rohani further explained the current “support structure”, which includes departments such as the Employees Provident Fund EPF, has only started adjusting the retirement age to 60.

If the government keeps on raising the retirement age, those who are supposed to be promoted, could be affected.

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Posted by rr1455 - May 9, 2017 at 11:19 am

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Major protest begins in capital over plans to raise retirement age

1. High shot of demonstrators gathering
2. Protesters marching with banner
3. Demonstrators marching
4. Pan over large crowd of demonstrators, some waving banners
5. High shot of large crowd of protesters
6. Zoom in on crowd
7. High shot of crowd
Thousands of people gathered in Paris on Tuesday to protest against a proposed hike in the retirement age.
The huge demonstration in the French capital was one of more than 200 protests and one-day strikes by workers in sectors across the French economy planned around the country over a bill raising the retirement age to 62.
President Nicolas Sarkozy has pledged to crack down on "troublemakers" as clashes between youth and police broadened on Tuesday, saying he would ensure that "public order is guaranteed".
It was the sixth national day of demonstrations over the planned pension reform since early September.
Union leaders have vowed to keep up the pressure until the government scraps the unpopular plan, saying retirement at 60 is a fundamental social right that past generations fought hard to achieve.
Sarkozy called the reform his "duty" as a head of state and said it must go through to save France's generous but money-losing pension system.
The protests in France come as countries across Europe are cutting spending and raising taxes to bring down record deficits and debts from the worst recession in 70 years.

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Posted by rr1455 - May 7, 2017 at 4:43 pm

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Understanding Alternative Retirement Plans

Is there a catch to some of the alternative retirement plans I hear about?

There is no catch, you can have access to your money before you are 60 years old, guaranteed rates of return and guaranteed principle.

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Posted by rr1455 - May 5, 2017 at 4:40 pm

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How To Plan For Retirement In 50s Get Your FREE Kit

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Posted by rr1455 - May 5, 2017 at 11:35 am

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What happens to retirement funds and 401k plans in a divorce?

Jerry Shade, Whitaker & Shade LLC, – (513) 318-3530. Ohio Divorce Law FAQs: Disclaimer:

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Posted by rr1455 - May 3, 2017 at 10:55 am

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American Funds Retirement Planning Calculator is Pretty Good

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Here's the Bloomberg Retirement Calculator


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Posted by rr1455 - May 2, 2017 at 11:20 am

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Early and/or Forced Retirement Planning: Income Bridging Ages 55-60 (Part 2 of 3)

Early and/or Forced Retirement Planning: Income Bridging Ages 55-60 (Part 2 of 3)

This special series is focused on people who are being laid off or are taking an early retirement and have decided to transfer their Pension Plan out of a company/government pension plan to a self directed Locked In Retirement Account (LIRA).

The second installment of this three part series discusses the period after you are able to access your LIRA and converting it to a LIF (Life Income Fund). During this time frame the focus is looking for strategies to subsidize your income until age 60 when you become eligible for early Canada Pension Plan (CPP) of approximately $500 – $600 per month.

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Posted by rr1455 - May 1, 2017 at 10:11 am

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A New Retirement Planning Strategy Summer Sales Ideas 2014 Volume I

A New Retirement Planning Strategy

To read the complete blog article which provides details and sample illustrations supporting the content in the video above, go here .
What follows is an abbreviated version of the blog content:

Private Retirement Plan (also referred to as "PRP"):  A cash-rich life insurance policy is used to accumulate funds prior to retirement from which loans and/or withdrawals are taken during retirement years. 

The following three features of the life insurance used in such plans are what make the results so unique:

• Cash values accrue without income tax;
• Cash values can be accessed without income tax using withdrawals to basis and/or loans;
• Death benefits are paid to beneficiaries without income tax. 

The purpose of this Blog is to compare retirement planning for Tony and Jennifer Callahan with and without use of a Private Retirement Plan and then introduce a third innovation that increases spendable, retirement cash flow by as much as 30% to 40%.

Tony and Jennifer are ages 45 and 40.  He is a physician, and she is a CPA.  Between them, their gross income is $550,000.  After tax, their net income is $300,000.

The Callahans' present plan is to duplicate their current after tax income of $300,000 beginning at retirement ages 65/60 and index it by 3.00% a year for an inflation offset. 

Their current net worth is a little over $2,000,000.  Below are the details:

$ 500,000 Equity Assets ¹ @ 6.50% growth; 1.00% dividend
500,000 Taxable Assets @ 4.00%
250,000 Tax Exempt Assets @ 3.00%
180,000 Retirement Plan ² Assets @ 7.50%
500,000 Residence @ 6.00% growth
(400,000) Mortgage @ 4.75%
100,000 Art Collection @ 7.50%
400,000 Personal Property @ -5.00%
$2,030,000 Total Net Worth

Strategy 1

This includes the withdrawal of spendable, retirement cash flow of $300,000 a year starting at their ages 65/60 and increasing by 3.00% a year thereafter. 

Strategy 2

We'll integrate a Private Retirement Plan into their analysis by adding an Indexed Universal Life (IUL) policy with $2,500,000 of level death benefit with five scheduled $100,000 premiums.  We'll call this Strategy 2.

Go here
to review the IUL illustration used with Strategy 2.

Strategy 1 vs. Strategy 2

Strategy 2 shows a long-range increase in net worth in excess of $12,000,000 (an increase of 143%).  Be sure you understand that the only difference between Strategy 1 and Strategy 2 is the inclusion of IUL in Strategy 2.  In all other respects, they both use the same data.

In the lower half of the graphic, you can see that both strategies produce $14,000,000+ in spendable retirement cash flow.  $9,000,000 of that is $300,000 a year times 30 years (ages 65/60 through ages 95/90).  The balance is the result of the 3.00% indexing.  The gain in Strategy 2 is caused in large part by the substantial policy loans from the IUL which significantly reduces the amount of cash flow needed from other assets.

Strategy 2 has produced an astonishing result.

Go here to review the year-by-year numbers for cash flow, net worth, and wealth to heirs for Strategies 1 and 2.

Strategy 3a

Many producers who use Wealthy and Wise find this type of analysis provides such an increase in net worth that it will allow a substantial gifting program for heirs.  Next, we are going to take a different tack with Strategy 3a and see if I can increase the Callahans' spendable, retirement cash flow instead.

The additional net worth developed in Strategy 2 allows us to increase Tony and Jennifer's spendable, retirement cash flow by another $100,000 a year, also increasing by 3.00%, and those results are shown below.

Strategy 1 vs. Strategy 3a

Strategy 3a generates an increase of almost $5,300,000 in spendable, retirement cash flow, a 37% increase, while maintaining virtually an identical amount of net worth as Strategy 1, the Callahans' current plan.

Go here to review a report showing the year-by-year cash flow, net worth, and wealth numbers of Strategies 1, 2, and 3a.


To license Wealthy and Wise and/or the InsMark Illustration System, contact Julie Nayeri at or 888-InsMark (467-6275).  Institutional inquiries should be directed to David Grant, Senior Vice President — Sales, at or 925-543-0513. For the best life insurance carrier and appropriate product selection, contact the Ash Brokerage nationwide Life Team at 1 800 589 3000.

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Posted by rr1455 - April 30, 2017 at 3:19 pm

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Retirement Planning Mistake 2 – Don’t Save Enough

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This is video 2 in my series about "The Dirty Dozen Retirement Planning Mistakes to Avoid". Source:

Retirement Planning Mistake 2: Don’t Save Enough
Here’s a shocking set of statistics for you. According to the year 2000 U.S. Census Bureau data, the median value of all retirement savings accounts was a mere $18,000. If you add up all the retirement savings accounts by household the median jumps to a pathetic $31,000. If you take the median for all retirement savings accounts in the 55-64 age category (people near retirement) it’s still only $56,000. When you factor in those who have no retirement savings accounts the result is 75% of workers 55-64 years old live in households with retirement savings between zero and $56,000. And this was in 2000 at the peak of the bull market in stocks when everything was rosy. Yikes!
Nobody wants to be told to save more. The Puritanical value of savings is so often repeated that it verges on boredom, but here’s the reality. You are either saving for retirement today or consuming your retirement today. It is a choice you are making that has profound implications for the last 30 years of your life.
Saving for retirement is about priorities and alternatives. Do you take that five-star vacation now or go camping and buy a few years of comfort in retirement with the difference? Do you upgrade your car to a new model now or stretch its life with a few repairs so that you can enjoy new vehicles in retirement? A few inconsequential inconveniences today can compound over time into a comfortable retirement tomorrow.
For example, what is the real price of that fancy coffee drink you buy each day? $5.00 per day times 20 days per month for 50 years at 10% interest compounds to an astonishing $1,876,000.00 that could be saved for retirement. An espresso machine and a few minutes per morning filling a thermos bottle is a small price to pay for that additional security in your retirement.
And that is just coffee – imagine all the other places where your current consumption could be redirected to savings. It’s a lot easier than you might think. Most people find the savings habit addictive once they establish the pattern and see the results. It is not a matter of sacrificing as much as it is about redirecting priorities.
“If you would be wealthy, think of saving as well as getting.”
Benjamin Franklin
The reality is retirement planning is not a decision of whether or not to consume, but when to consume. Consuming now means your money won’t compound and grow to support you later.
The “no-brainer,” get-started-today, solution is to invest as much money in your company retirement plan and IRA’s as you can afford. At a minimum, you should invest enough in the 401(k) to get the company matching funds assuming they are offered. Nobody should pass on that opportunity. Yet for many people, even that won’t be enough.
Chances are you have already heard the “save 10%” rule of thumb. It’s actually a workable formula if you start in your 20’s and retire in your sixties without significant inflation or debt problems along the way. But retirement dreams vary, and if your vision is to retire at 50 with waterfront property then saving just 10% isn’t likely to cut it – particularly if you wait to start saving until age 40 or later.
According to Jack Vanderhei of Employee Benefit Research Institute in a PBS interview, you will need to save 13.3% of your total income if you are a male who retires at age 65 after working for 30 years and relies solely on Social Security and his retirement plan. A female needs to save 14.1% – employer and employee contribution combined – because of longer life expectancy. If you wanted to retire 5 years earlier at age 60 then contribution rates rise to 14.5% and 15.3% respectively.
Vanderhei is not a lone wolf in these seemingly aggressive calculations. Brooks Hamilton calculates retirement savings contribution rates between 15% and 18% of earned income depending on assumptions. This is greatly in excess of average savings rates for most employees.
And if that weren’t enough to shock you, Jack Bogle of Vanguard Mutual Funds fame points out people who don’t start saving until age 40 should contribute 25% of their income to fund retirement because they need to make up for lost time.
Clearly, the lesson here is to start saving for retirement early – and save aggressively. Every day you delay just raises the percentage of income you must save and increases the leverage and risk required to achieve the same financial goal. There is an easy way and a hard way to save for retirement, and the easy way is to start early and save aggressively.
Ask yourself, “What percent of my income is being saved, and is it enough?”

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Posted by rr1455 - April 30, 2017 at 12:44 pm

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IRA/Retirement Plan 60-Day Rollover Waivers

Find out how you can get a waiver if you missed the 60-day deadline through no fault of your own to roll over an IRA or retirement plan. For more information, go to

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Posted by rr1455 - April 29, 2017 at 2:04 am

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How To Plan For Retirement

"How to Plan for Retirement". A simple guide to help you retire with peace of mind.
PST: Hello, its me, Professor KnowItAll… and yes, I'll be giving you the very best tips so you can retire with peace of mind…
EXP: Hello Professor, are you now an expert on that topic?
PST: Of course…
EXP: Oh, OK, so you're all ready for retirement?
PST: Of course! I'm ready!
EXP: So then, you have money saved?
PST: Well, not exactly but I have a plan… I will live with my kids…
EXP: Living with your family during retirement can be very gratifying, but surely you don't want to be a burden on them…Did you know that people in the United States, on average, live 20 years after they retire? In general, people need almost 80% of what they earn in order to live comfortably after retiring That's a lot of money, so you'll definitely need a good plan in order to get there. OK, don't panic yet. It's never too late to start or even too early. Let me tell you what you should do so that the next time, you can give people good advice.
PST: Sounds good.
EXP: Professor, according to the Consumer Action Handbook, the first thing is recognizing the importance of saving for retirement. The three most common options are: One: Pension benefits, offered by some places of employment. Two: Savings and investments, started by you. Three: Social Security, which is the Federal Governments retirement plan. Now, if you're still working, find out if your place of employment offers a pension plan and how it works. Some companies also offer a 401k plan.
PST: Four 01 what? I've never heard of that truck, but mine is newer…
EXP: I'm not talking about vehicles here, I'm talking about retirement plans in which, if you save, your company will match a percentage of the contributions you make.
PST: Oh, that's like free money.
EXP: Exactly. Sometimes you impress me, Professor! In order to plan well for retirement, you must consider what types of expenses you'll have, whether you'll work or not, if you'll have additional medical insurance, or if you'll have costly hobbies, like traveling. There are many things to consider, so you may want to consult a financial expert for help.
PST: Yikes, I'm feeling dizzy…
EXP: Professor, you can also ask for help and get tips from the following organizations: AARP, American Savings Education Council, Department of Labor Securities and Exchange Commission, Social Security Administration
PST: Ufff…I'm feeling a little better now.
EXP: Professor, this is all about saving not spending… Better yet, let me remind you to visit or in Spanish at where you can learn more about all of this and other interesting topics for consumers. And remember, you can also order your free "Consumer Action Handbook "…

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Posted by rr1455 - February 26, 2017 at 4:11 pm

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Download How to Retire with Enough Money PDF eBook

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Posted by rr1455 - February 26, 2017 at 2:03 pm

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Do I have enough Money To Retire

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Posted by rr1455 - February 26, 2017 at 11:03 am

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Retirement Plan – Early Retirement Planning | SBI Mutual Fund – SBI Fund Guru

Starting early is the key to successful retirement planning. Watch this
video to know how SBI Fund Guru could help you plan your retirement. Start
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Posted by rr1455 - February 25, 2017 at 4:43 pm

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Suze Orman shares how to plan for retirement today: work until 68, if you have a job.

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Posted by rr1455 - February 25, 2017 at 2:18 pm

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Do I Have Enough Money to Retire

Todd Krantz with Krantz Financial and Insurance Services talks about a common question he gets from those in or nearing retirement.

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Posted by rr1455 - February 25, 2017 at 1:34 pm

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How To Retire Early – Our Plan For Financial Independence

Want to know why we do the things we do? Our goal is retire extremely early by saving 75% of our income. If you're interested in financial independence definitely check out Mr. Money Mustache (link below).

You don't need a high income to retire early. But, you are going to need to give up a lot of "things" for financial freedom. Some people think living without luxury isn't living, we think living without time isn't living. We just want people to know they're making a choice.

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Posted by rr1455 - February 25, 2017 at 11:12 am

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How Can Millennials Retire With Enough Money?

Interviews in Huntington Beach, CA with a financially independent baby boomer and what she did to become wealthy and also a German millennial who will teach you the philosophy the Germans take to make sure they have enough money to take care of themselves in retirement.
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IG: jason_j_hamilton

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Posted by rr1455 - February 24, 2017 at 10:49 pm

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How much money $$$ Do you need by age for retirement???

In your 20s: Aim to save 25% of your overall gross pay, Greene tells CNBC. “That 25% is the combination of 401(k) withholdings, matching funds from your employer and any cash savings that you have,” she notes. “It can also include debt repayment.

“Just make sure your lifestyle expenses don’t exceed 75% of your gross income.”

By age 30: Have the equivalent of your annual salary saved, Greene says. If you earn $50,000 a year, aim to have $50,000 in savings when you hit 30.

Again, this includes any retirement account contributions, matching funds from your company, cash savings, or money you have invested elsewhere, in index funds or robo-advisers.

By age 35: Have twice your annual salary saved.

By age 40: Have three times your annual salary saved.

By age 45: Have four times your annual salary saved.

By age 50: Have five times your annual salary saved.

By age 55: Have six times your annual salary saved.

By age 60: Have seven times your annual salary saved.

By age 65: Have eight times your annual salary saved.

Greene’s timeline is similar to the one recommended by retirement-plan provider Fidelity Investments, which says a good rule of thumb is to have the equivalent of your salary saved by age 30 and to have 10 times your final salary in savings if you want to retire by age 67.

“While this can sound super daunting today, if you’re putting that money to work starting in your 20s, it’s not as difficult as it sounds,” says Greene.

She also notes that “life is anything but linear,” and it’s impossible to follow this formula to a tee. You may have to adjust accordingly and save more or less in any given year, depending on major life events, such as having a kid or buying a home.

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Posted by rr1455 - February 24, 2017 at 12:48 am

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Obama reveals his “retirement plans”

In a humorous video that aired at the White House Correspondents' Dinner, President Obama revealed how he would ease his way into retirement. He gets a little help from Joe Biden and John Boehner too.

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Posted by rr1455 - February 24, 2017 at 12:39 am

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