retirement Archives

May152022 by Paul LinusNo Comments

Is there retirement after self employment

Finance

Isn’t everyone aiming toward some form of retirement? For the self-employed, the future might feel a little bit more uncertain. Does having no employer mean having no security? Not necessarily- but independent contractors have to plan (more) for the future. The economy is uncertain right now, and the future always is. Self-employed professionals who independently find their own jobs will not necessarily be provided a retirement plan by any employer or government. Is there retirement after self-employment? Yes- but the professionals, as was the case with their careers, must create this plan for themselves. Self Employment and Social Security The U.S. government provides, at least at present, social security for senior citizens (persons aged sixty-five or older). This is put in ...

Feb132022 by Paul LinusNo Comments

Retirement planning and superannuation

Lifestyle

Retirement is something we all tend to think about from time to time, but many of us are not particularly serious about saving for it. Generation Y, for instance, might laugh off suggestions that they need to consider investing for their golden years in the distant future. However the bitter truth remains that the Twenty-First Century is undoubtedly an economically evil era. Times are perpetually changing for the worst and job security is virtually a thing of the past. A stable nest egg in this day and age of global recession and heavy superannuation losses is critical, if not mandatory, for those of us who want to retire comfortably - especially for those of us young folk who want a stable retirement in the future. Superannuation is Important but not Guaranteed One of the wor...

Feb72022 by Paul LinusNo Comments

First time home owner’s tips

Home & Garden

Buying a house is a decision that is not to be taken lightly since there are responsibilities and risks involved. For first time home owners, there are also a lot of extra costs. Pros of Buying a House Property is an investment. Once the mortgage is paid in full, the purchaser of the property has a home to live in for good and a cash value if he or she wishes to sell. Property prices have dropped considerably over the last 18 months in almost every country across the world, foreclosures are at an all time high, so now is possibly a good time to buy a house. A home owner has the freedom to make any changes to the property or decorating choices without having to consult a landlord. Cons of Buying a House Financial costs can be a lot more than initially budgeted for, on to...

Dec12021 by Paul LinusNo Comments

How to work past the age of 65

Career

As the expenses of daily life rise and the strain of the economic climate puts a drain on family finances, few find it possible to save enough money so when the time comes they can retire in comfort. Even if they do plan saving the traditional ways, the income derived from pensions, social security and RRSPs are often not enough to meet the rising costs of living. A report issued by National Summit on Retirement Savings that was held in June, 1998 states, “Americans must save more today if they are to realize the dream of a financially secure retirement tomorrow.” Section two of the report says: “Many Americans are not planning or saving enough to be able to afford to retire.” That hasn't changed since then and in today's poor economic climate savings are even harder to achieve. ...

Nov112021 by Paul LinusNo Comments

When is right time for voluntary early retirement

Career

Taking early retirement is easier said than done and needs careful planning. A typical semi-retirement or working retirement plan involves: determining of the length of semi-retirement, accumulating savings to fund mandatory and discretionary spending during semi-retirement, budgeting for expenses and spending during the time off; and, developing a back up plan if ventures do not succeed Once the savings target is reached and before the resignation letter is tendered, semi-retirement activities should be planned out carefully to ensure that the temporary time off from work is well spent, efforts are worthwhile and goals are achieved. Spending Time With Family The best time spent by most people is probably with their parents, spouses, children and pets. Although the time ...

Dec272020 by Paul LinusNo Comments

Thinking of retiring amid coronavirus pandemic?

Career

Retirement today may mean something very different than it did a few years ago. It may mean that someone has applied for Social Security benefits or it may simply mean that someone is no longer working. Retirement can also mean that someone has chosen to continue working, either full or part-time and still receive Social Security benefits. All these options are available, but before taking the steps to these options, careful consideration needs to be done in order to ensure the right decisions are being made. Taking early retirement may mean that there will not be enough income and delaying retirement may mean that there are not enough years left to enjoy the increased income. Finding the right balance is the key to successful retirement planning. Crunch the Numbers There are ...