AcharyaCenter.com - Browse eBooks, Audios and Videos

10 Ways To Transition Yourself Into Retirement

0 like 0 dislike
170 views
posted in Business by FoolishJaguar
Let’s be completely honest. Everyone has their own dreams and expectations about retirement. Upon retirement, some folks plan to travel around the world while others simply plan to take excursions to their local beach. Whatever the retirement plan that you may have, being able to implement your goals takes a certain degree of financial security. The problem however is that financial security does not just happen but requires careful planning, commitment and yes, money.

To be a successful retiree, you must successfully transition yourself into retirement in order to meet your retirement objectives. In addition, you have to plan the amount of money you need and what you want to accomplish with your savings. After all, you’ll likely spend 35+ years in retirement so you must start planning now. In this article, we will discuss 10 ways that you can successfully transition yourself into retirement. They are as follows:

1. Debt Reduction - Make sure that you do not carry your debts into retirement. Therefore, commit yourself to paying off as much of your debts as you possibly can. Eliminate car payments, credit card debts, personal loans, etc. Do what you have to do now to squash debt and make sure that you don’t obtain any new debts either.

2. Have a Nest Egg of Emergency Funds - Have enough liquid funds in hand to cover at least a few months of expenses, without eating into your investments. Be prepared for the unexpected expenses while you transition into retirement. After all, emergencies will certainly come up but if you have a certain amount of savings, you won’t have to worry about them.

3. Adequate Insurance Coverage - Make sure that you have adequate insurance to cover your life, health, homeowners', and auto insurance policies. Reassess your insurance needs on a yearly basis to ensure that they suit your retirement needs. Be open to making changes as needed and check out your employer’s retirement coverage. Many of folks have been unpleasantly surprised to learn that their employers will no longer cover their medical expenses after they retire. So, if you find out now, you can take the necessary steps to protect yourself and your family.

4. Retirement Income Plan - To ensure that you don’t outlive your assets, develop a retirement income plan that includes your income and expenses. Keep track of your current expenses and cut back as needed.

5. Social Security Benefits - The rules for benefits are rather complex, so talk to a Social Security representative a year before you plan to retire. By doing this, you’ll be able to understand your benefits and how much you’re covered. In addition, you should apply for social security three months before you want to start collecting your benefits or three months before your 65th birthday.

6. Contribute to a Savings Plan - If your employer offers a tax-sheltered savings plan (such as a 401K), make sure that you contribute as much as you can. Not only will this substantially lower your taxes but will also make huge difference in your financial security due to the magic of compounded interest.

7. Review Wills and Trusts - Make sure that you have a valid will and/or trust. Not only will this protect your assets but will give you peace of mind.

8. Invest in IRA - By putting money in an Individual Retirement Account (IRA), you’ll cleverly delay paying taxes on investment earnings. If you invest $2,000 in IRA at 4% when you are 30, it will grow to $112,170 by the time you are 60. Now that’s a lot of moola for simply being smart!

9. Follow Basic Investment Principles - Just remember that how much you have for retirement depends on the type of investments you make now. Learn how to multiply your savings using mutual funds, stocks, bonds, etc. Consult a financial advisor for additional information.

10. Know About Medicare - Find out when it is appropriate to apply for Medicare and then apply. The Medicare application process and premiums may vary, depending on your age and whether or not you are receiving Social Security by being aware of the type of Medicare you may qualify, you’ll be ahead of the game. For instance, the two parts of Medicare are:

- Hospital insurance, which generally you do not pay. It helps to pay for hospital, hospice, and home health care.

- Medical insurance, which you pay. It helps pay for doctors, outpatient care, and other medical services.

Follow our suggested ten steps and you’ll not only improve your mental health but you’ll also transition yourself into a happy and financially secure retirement.

Please log in or register to reply to this post.

Related posts

0 like 0 dislike
1 Comment 1,403 views
What are the creative ways to find a job?

What are the creative ways to find a job?

posted in Business by MagicalCyborg
0 like 0 dislike
1 Comment 827 views
how to get a job in film special effects ?

Getting Your Dream Job in Film Special Effects? what can you tell me?

posted in Business by Knighthawk
0 like 0 dislike
0 comments 166 views
Whats the life at military school at looks like?

Military schools, contrary to common belief, are not all drills, squats and jumping jacks. It's not also a place where ... troubled teenagers, military schools fill an important role in the education.

posted in Business by AfternoonFay
0 like 0 dislike
0 comments 223 views
7 Reasons To Search Online For Your Next Job

A job search can be hard and sometimes frustrating. In case you are considering changing your job you should consider using an online ... look for new jobs and job search has taken giant strides.

posted in Business by HuggingDuck
0 like 0 dislike
0 comments 1,370 views
0 like 0 dislike
0 comments 168 views
8 Resume Editing Tips

It's amazing what a well-written and nicely presented resume can do for your job search. Before you send yours out, follow this ... it, and scroll down to "remove link" to deactivate the link.

posted in Business by HairyFoal
0 like 0 dislike
0 comments 7,882 views
Congratulations on a Job Well Done

Dear The displays you created for the "Summer's Coming" promotion are just beautiful. Several of the sales personnel told me ... compliments from the customers. Congratulations on a job well done.

posted in Business Templates by List
0 like 0 dislike
0 comments 763 views
Acceptance of Resignation

Dear It is with deep regret, that we accept your resignation as [position] of the [organization] We can appreciate the demands ... appreciate all of the fine contributions you have made as [position]

posted in Business Templates by List
0 like 0 dislike
0 comments 238 views
10 Steps To Save Your Retirement

Many of the brightest and hardest-working marketing and advertising people in the country are obsessed with getting you to spend money ... t be spending your Golden Years working at the Golden Arches.

image
posted in Finance by HairyMagpie
0 like 0 dislike
0 comments 249 views
10 Relocation Tips To Keep Yourself Centered When Your World Is Spinning

Ten tips for happy relocation (across town and around the world) Relocation is stressful because you change more than your ... in your new life...usually something wonderful you never anticipated.

image
posted in Family by vachikgrat
0 like 0 dislike
0 comments 834 views
10 questions you should ask to yourself: a preparation to self-improvement

Be all you can be, but it's not always in the Army. I often see myself as somewhat contented with my life the way things are, ... change you have to undergo, but it's something that you really want.

posted in Family by Mosquiche
0 like 0 dislike
0 comments 1,471 views
0 like 0 dislike
0 comments 2,940 views
0 like 0 dislike
0 comments 2,934 views
0 like 0 dislike
0 comments 2,916 views
0 like 0 dislike
0 comments 2,485 views
0 like 0 dislike
0 comments 1,452 views
0 like 0 dislike
0 comments 2,772 views
0 like 0 dislike
0 comments 2,752 views
0 like 0 dislike
0 comments 2,707 views
0 like 0 dislike
0 comments 2,332 views
0 like 0 dislike
0 comments 1,202 views
0 like 0 dislike
0 comments 1,165 views
0 like 0 dislike
0 comments 1,123 views
0 like 0 dislike
0 comments 1,113 views
0 like 0 dislike
0 comments 1,064 views
0 like 0 dislike
0 comments 543 views
0 like 0 dislike
0 comments 176 views
10 Sure-Fire Ways To Kill Your Ebay Business

It's surprisingly easy to kill your eBay business, if you're not careful - sure, you can start over from scratch without it ... next email will give you ten steps to successful selling on eBay.

posted in Business by GreedySmile
0 like 0 dislike
0 comments 888 views
"Who's the Boss?" 10 ways to start taking control (time management, goal setting, record tracking)

At first glance, it would seem that positive thinking and Attention Deficit Disorder (ADD) have nothing to do with one another. But ... workaholics than tell ourselves that we're not doing our best.

posted in Health by Knighthawk
0 like 0 dislike
0 comments 268 views
10 ways to empower your communication

The Blarney Stone is a historical stone, or actually part of the Blarney Castle in Ireland where it was believed that ... make conversations and meetings far more enjoyable as well as educational.

posted in Health by Sumogre
0 like 0 dislike
0 comments 240 views
"Life With Woody" 10 inspirational quotes than can improve yourself

It might take a little coffee or probably a few rounds of beer or any other booze you could get your hands on when it comes to relaxing ... and liking what you have, instead of what you don't have."

image
posted in Health by Madept
0 like 0 dislike
0 comments 2,082 views
0 like 0 dislike
0 comments 1,757 views
0 like 0 dislike
0 comments 2,928 views

Share Tips and Guides

Add text, links, images, videos and documents

Submit Post

Connect with us:
...