Have you Properly Planned your Retirement?

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Gone are the days of the past when people went from years of labor only to go home and live a rather stale and stagnate lifestyle until reaching death.

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Today's retirees are more active than ever. Unfortunately, those activities take money and unless you're planning to sit at home and wait for death you should be making plans to take care of all those things you wish you had done earlier in life once you retire.

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While you are planning for your financial retirement you should also take the time to make plans for what you will do once you retire.

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Do you need to join a travel club now in order to have an established membership when the time comes to actually enjoy the benefits of belonging? How about that book of the month club?

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Many of these clubs are great to join while you have the extra 'disposable' income that goes along with working and having a career. You can take the time now to build up your library. Even if you read the books now, chances are that by the time you retire you'll enjoy the ability to read them again.

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If you are retiring today you will want to make plans to go parasailing, take cruises, ride horses, and maybe learn to golf and/or knit. You do not want to spend your golden years sitting at home waiting for the inevitable end. You want to leave this world laughing about all the fun and good times you've had.

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The stereotypes associated with retirees are changing quickly as the world evolves and people are living longer than ever before. 

When you plan your funds you also might want to take the time to have a few daydreams about the places you will go and save a page or two to write about those dreams and sharing them with your partner in life.

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You should also take time to find out what he or she hopes to do, where he or she hopes to go, and the things that he or she would like to see when making plans for your retirement. After all, you have shared your lives together it only makes sense that you will share the best years of your lives with one another.

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There is no better input to get when it comes to your retirement than the input of your life partner. You should also take things in stages and not try to do and see everything in the first months or year of your retirement.

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The novelty of not going into the office each and every day will wear off quite soon. You will then find that you can only mow your lawn so many times a day without actually doing more harm than good to your grass. You'll know every leave of every flower in your garden, and you will know the inside and outside of every book on your shelves.

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Don't become a victim of boredom in your retirement as that brings on spending sprees. Find a hobby that doesn't require a considerable investment and you will help prolong the limited funds you will have at retirement and save them for the more important things on your list of "things to do before you die".

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           Properly Planning for Financial Retirement

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The vast majority of people reading this will never receive the benefit of social security for the purpose of retirement-unless of course serious adjustments are made in the current system.

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There are simply too many people living much longer than anticipated. At the same time, regardless of how much you've managed to pay into social security over time it is doubtful that anyone could live on the amount of money they would receive in social security benefits even if they had no other significant bills to pay such as house notes, car notes, or insurance on a home or automobile. 

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It amazes me that my grandparents managed to live on the modest sum that was earned from my grandfather's retirement and social security. They were never wealthy but in the last decade or so I understood just how little they had and yet they managed somehow to have all the things they absolutely needed in order to survive. I know that in the world of today, their meager incomes would not even begin to make ends meet for groceries let alone utilities and other necessities in life. 

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It is because of the struggles my grandparent's faced that I have devoted a good deal of time and effort into making sure that we do not go through those same challenges and struggles upon retirement

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 We have taken steps today to insure that we will have income throughout our retirement as well as a few carefully crafted investments to pull us through. I do not believe that I have all the answers and for this reason we have relied heavily upon the advice of our financial planner.

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He has helped us discover avenues for investing money and methods of doing so that have been nothing short of amazing for us as we watch our holdings grow year after year in preparation for retirement. 

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If you haven't taken the time to find a financial advisor for your investments there is no time like the present to do so. Even if you are nearing that magical number you might be amazed at the guidance and advice that can be offered by a competent financial planner to maximize your short and long-term investment and retirement planning needs.

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I believe you will be amazed at the financial miracles a good financial planner can work with even the most modest of investments with which to work.

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You should also make sure that you take care of as many of the recurring bills as possible before you retire. It helps greatly if you have your home paid off and do not have the worry of a monthly mortgage payment.

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Another thing that is good to keep in mind is that you will want to downsize rather than upsize at retirement. Eliminate the second car and ride together when possible (this also eliminates an insurance payment as well). 

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If you are planning to move to a particular area of the country for your retirement you may want to begin now, as early as possible, seeking property in that area at a much lower price than you will pay ten to twenty years down the road when you actually get around to retiring.

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This will increase the likelihood that you either have your retirement home paid for or are very close to having it paid for. Another thing to remember is that you will want to get a smaller home for your retirement rather than a larger home that you will need to care for.

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This means you can eliminate some of the utility costs, which may prove substantial.

 

The most important thing to remember when planning for retirement is that it is your retirement for which you are planning. Make sure you set aside funds to make your retirement worth retiring for.

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Don't merely exist throughout your retirement because you can't afford to live, take the steps now to insure that this is not going to be a problem for your retirement years.

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              Property Investment for Retirement

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While many fortunes have been made and lost in the real estate business, many people overlook the value of real estate investing when it comes to planning for retirement. There are many great ways that you can let real estate build a nice little nest egg for your retirement and the sooner you begin the process the better. 

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While there are all kinds of stocks and mutual funds that confuse even the most intelligent among us, real estate is a pretty straightforward business to get into. The problem is that many people feel it is too risky.

 

The truth is that there are many different types of real estate investing that all carry different risk to the buyer. One thing is for sure and that is that with proper care and attention properties tend to gain value over time rather than lose value.

 

If you purchase properties today and properly maintain them, you can not only reap years of rental income while paying the mortgage on these properties but you can also find your retirement home and pay today's prices for it rather than the prices of tomorrow.

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When it comes to real estate it is always good to arm yourself with knowledge before taking any steps and you should carefully discuss all plans for your financial future with your trusted financial planner or advisor.

 

His or her job is to give you guidance when making plans and purchases that will affect your financial stability and security. They can also help you with the matters of taxation, cost analysis, estimated inflation, and the average rise in property value for an area. 

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As I mentioned before there are always risks when it comes to any sort of investing. The same holds true for real estate investing. Things can go wrong. On occasion you will find lemon properties, for this reason you need to have a complete and thorough inspection performed before you purchase the property.

 

You should also make sure that you are aware of your state and local laws as they apply to landlords. For this reason it is a good idea to consult with an attorney that specializes in this type of financial investing in addition to your financial advisor.

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Rental properties aren't the only way to build a property investment portfolio. There are all kinds of property investment opportunities for those that are willing to take the risk.

 

When it comes to property investing, the greater risks often net the greater potential rewards. The thing you must remember is that you are gambling with your financial future. I tend to stick with rental properties as they are a fairly safe bet and actually pay for themselves over the years while building a nice nest egg for my future.

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There is the eternally fascinating investment opportunity that property flipping presents for one. When flipping a property you purchase a property below market value-preferably one that requires minor cosmetic repairs.

 

Make the repairs. Then sell the house for a substantial profit. This is a risky venture for those who are novices to the field and many would be investors have lost a great deal of money doing this.

 

Successful investors however can net significant profits in a very short amount of time if they have the knowledge and skills to do the work themselves and time things perfectly. 

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There are even more property investing opportunities that provide even greater risk, as they are highly speculative known as pre-construction investing. This is the type of investing that creates millionaires.

 

On the flip side it has sent many into bankruptcy along the way as well so tread very carefully before engaging in this sort of real estate investing and take great care never to invest more than you can afford to lose.

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As you can see there are ample opportunities in real estate to create an outstanding financial retirement plan for you and your family. The only decision you need to make is whether or not this type of investing is a good fit for your comfort zone.

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            Long Term Retirement Planning

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We all know that sooner is much better than later when it comes to planning your retirement. The more money you sock away and the longer that money has to grow and work for you, the better the position you are in to enjoy your retirement to its fullest. With this in mind, you need to approach all of your retirement investments as long-term rather than quick turnover investments. 

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It is often tempting to risk it all for the promise of a high return on your investment but you must remember that with great reward comes great risk and most of the time your security is simply not worth that particular risk. There are several different types of long-term investments that you may find to be reasonable and even attractive investments. 

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Bonds are a popular long-term investment. These are very much like bank issued CDs with the minor exception that bonds are issued by the government. There are many kinds of bonds and you should research them all before committing to one over another. If you select the right bond you might find that given enough time your bond will double in value over time.

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Mutual funds are another popular investment for long-term investors. These are pools of money that are combined in order to invest in stocks, bonds, and other short-term investment ventures including securities. These funds are handled by the fund manager who decides where and how the money will be invested. This leaves you to reap the rewards that his or her experience will bring in for you over time.

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Stocks are another popular option for those interested in long-term investing. It should be noted that investing in stocks is much riskier than investing in mutual funds though the payouts when things go well are often much more substantial.

 

If you decide to delve into the realm of stock market investment you should be aware that every transaction costs money, that you need to thoroughly research the ins and outs of this type of investing, and that you are taking a substantial risk with your retirement investment.

 

You should also be absolutely certain that you thoroughly research the companies in which you plan to invest and only invest in companies that are well established and showing strong potential for future growth.

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With any major financial decision you should consult your financial advisor for guidance and advice. His or her job is to help you turn your limited investments into as much money as possible in order to secure your future and your retirement.

 

The guidance that a good financial advisor can provide when it comes to long term investing is invaluable and should not be discounted or taken for granted any more than the advice you would receive from a doctor or an attorney. 

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My favorite type of long-term investment is real estate. While there are those that will argue that the return on this investment is too minimal to save for retirement I would argue that the fact that properly maintained and rented units will pay for themselves over time making them pure profit when the time comes to sell or simply to maintain a monthly income throughout your retirement.

 

The more rental properties you own the better your financial position and the more options you have when the time comes to sell those properties. Real estate is one field in which fortunes are made and lost on a regular basis. Rental property is the safest bet for most when it comes to long-term investment and the most significant return on investment.

 

There are options that go well beyond buy and hold when it comes to real estate. If this doesn't excite you perhaps rehabbing property or the even more speculative field of pre-construction investing will offer more appeal. 

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Long-term investments will be the primary fuel for your financial retirement funds and plans. You need to carefully consider the best possible option for your needs and work towards you financial goals.

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                  Final Notes for Financial Retirement

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When it comes to investing, whether you are putting aside money in order to send your children to college or aggressively saving for your eventual retirement there are many things you should keep in mind when making your investments.

 

Keeping these things in mind will help you take the successes and losses you experience along the way in stride. This is important as we must keep going and investing if we want to build a solid retirement for ourselves or education for our children.

 

If we give up and decide to play it safe we are seriously limiting our potential. You must learn from your mistakes and work hard not to repeat them rather than letting them rule your future investments.

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The first and most important rule to remember is that there are no absolutes. There is no absolute right or wrong method of investing just as there is no one right or wrong way to save your money.

 

There are only the methods that you are more or less comfortable with. The good news is that while diversity is the key in building a strong portfolio, there are many options from which to choose in order to keep your portfolio diverse and, more importantly, profitable.

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For today's investor there are all kinds of venues to pursue. You have the choice of stocks, bunds, mutual funds, property investing, and many categories of each of these in between. You should seek the services of a financial planner in order to help you get through those areas that are confusing to you or those that make you uncomfortable.

 

If you are still uncomfortable with certain types of investing after speaking with a planner there is no specific reason that you must pursue any one course of investing over another. It is often the wiser course of action but not necessarily the correct course of action for you as you are likely to make mistakes out of nervousness rather than allowing the fund to do their job and make money for you.

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You should also never invest in companies, bonds, funds, etc for any reason other than you feel they will provide a good return on your investment or you really want to support that particular company.

 

Do not be pressured into making an investment decision that you are not comfortable with unless you are having a hard time risking your money at all. In order to get the returns you will need to provide a proper retirement you will need to take some risks. The greater the risks the greater the potential rewards.

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Whether or not you realize it, the choices you make when it comes to your investments affect every aspect of your future retirement or your child's education.

 

You cannot afford to risk those important things too terribly long by being paralyzed by your fear. Fear and anxiety are quite common emotions to experience when handling funds that will have such a profound effect on your future and that of your family.

 

This is a time when a financial advisor or planner is an excellent idea as he or she can take over the reigns within reason or course, during these times and pick things up and get them moving in the right direction once again. 

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There will be setbacks along the way when you are investing funds. I do not personally know anyone who has never lost any money in the stock market.

 

I also know that when you lose money even 50 cents can seem like a tragedy if you allow it to. You must see the bigger picture rather than hyper-focusing on one good or bad decision.

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I hope this website has help you to understand the propert way to start planning your retirement. Have a awesome day!!

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