Retirement Planning


Live Where You Want

Live Where You Want

Travel Where You Want

Travel Where You Want

Live On A Beach

Live On A Beach

Take A Cruise

Take A Cruise

Enjoy The Rest of Your Life

Enjoy The Rest of Your Life



Whether you are years away from retirement, it is just around the corner or you have been retired for years, we have tools and the knowledge to grow, protect, preserve and pass-on the assets you have worked hard to attain.

 Be aware that there are several ways to plan for retirement and some will provide you with more spendable dollars than others. Here is a table showing the comparison between three popular ways to save for retirement.

Planning For A Lifetime

It’s not going to be your parents’ retirement – rewarded at 65 with a gold watch, a guaranteed pension, and health insurance for life. For many Americans, retiring in this new century is a mystery. Earlier generations of workers could rely on employer-provided pensions, but now many workers will need to rely on their own work-related and personal savings plus Social Security benefits. These savings have to last longer because Americans are living longer, often into their eighties and nineties.

If you are one of those people who want to plan – and are about 10 to 15 years from the day you retire – this booklet is for you. Today’s (and tomorrow’s) retirees may well have a new kind of retirement. With a longer and healthier life span, bikes, boats, planes, and RVs may be part of your life, because you are more likely than previous generations to be an active older American.

Opportunities to take courses, start a new career, and become a volunteer can make your future an adventure. A longer life, however, will also mean more medical care, some of which will not be covered by the federal Medicare program.

Photo of a detective shining a flashlight on a file cabinet.The whole retirement scene has changed and many American workers find it a mystery. In fact, a 2011 survey by the Employee Benefit Research Institute (EBRI) suggests that only 42 percent of Americans have tried to calculate how much they need to save for retirement. In this booklet, each chapter will give you clues on how to take control of your finances so that when you retire, you have the time and money to do what you’ve always wanted. For some, it’s simply being with friends and family. For others, it’s starting a new hobby or craft. And for some it’s starting a new life.

Whether you are 10 years from retirement or have a different timeframe – or even if you are retired – this booklet will help you to unravel the financial mysteries of life after work and to discover changes you can make for a financially secure future.

Time On Your Side

Getting started today will help you put time on your side. To help, Taking the Mystery Out of Retirement Planning offers a simplified, bottom-line approach to figuring out just how much you may need when you retire. The worksheets in this booklet will provide a guesstimate. Regard them as a starting point.

Each chapter in this booklet asks you to chart a different part of your financial life – your savings and your expenses – and helps you project future costs and savings well into your retirement years. Of course, no one has a crystal ball, and life has a way of throwing changes our way. But getting time on your side now, before you retire, means you will not be awake at 3 a.m. worrying about, instead of planning for, the future.

How To Use This Booklet: Simply read it to get familiar with retirement issues. Better yet, fill out the worksheets to figure the dollar amounts of what you have, how much it will grow in 10 to 15 years, and how much you may need to last over a 30-year period. Remember these amounts are only estimates, and you will want to update them from time to time.

Photo of a flashlight.Take your time. You may want to tackle one or two chapters, fill out the worksheets provided…then spend some time gathering the documents and information you will want to keep. This online version of the booklet allows you to save the information that you have entered so you can find it when you return another day. Whether you approach the booklet chapter by chapter or all at once, keep going. Don’t get stuck on details – guessing is okay, and you can always come back later with more accurate numbers and information.

This booklet uses three time periods in charting your retirement savings. The starting point is today, when you are about 50 to 56 years old and plan to work approximately 10 to 15 years more. This is a good time to take stock of where you are in terms of retirement savings and set financial goals you would like to achieve in the 10 to 15-year period you plan to work.

Picture frame montage.The second point in time is the day you retire, when you are about 65 to 66 years old. That period between now and then is an important one. In those (approximately 10 to 15) years, you will have time to put more of your paycheck to work in a retirement account. It will grow, not only from your additional savings, but also from the “miracle of compounding,” the world’s greatest math discovery, according to everyone’s favorite genius, Albert Einstein. This is the result of earnings from interest and from investments continually increasing the base amount.

Finally, the third time period used in this booklet is the approximately 30-year span you hope to enjoy retirement. It is the time period experts suggest you plan for, based on the average 65-year old American male living 17 more years and the average 65-year old female living 20 more years. These are only averages, so planning for 30 years will help you avoid outliving your income.

As you read through this booklet, keep an eye on the Timeline for Retirement that follows. Some of the terms, like “catch-up” retirement contributions beginning at age 50, may be new to you. The timeline offers some milestone opportunities to make changes so you can have the kind of retirement you want. The time to start is today.

The General Information Worksheet will get you started thinking about when you will retire. This information will be used in the worksheets that follow to help you come up with your retirement savings.

Clue 1
Timeline For Retirement

At age 50

Begin making catch-up contributions, an extra amount that those over 50 can add, to 401(k) and other retirement accounts.

At 59½

No more tax penalties on withdrawals from retirement accounts, but leaving money in means more time for it to grow.

At 62

The minimum age to receive Social Security benefits, but delaying means a bigger monthly benefit.

At 65

Eligible for Medicare.

At 66

Eligible for full Social Security benefits if born between 1943 and 1954.

At 70½

Start taking minimum withdrawals from most retirement accounts by this age; otherwise, you may be charged heavy tax penalties in the future.


Retirement1Download the Full Retirement Guide