Retirement Planning Chapter 17. Facts of Retirement Planning It is the responsibility of individuals to prepare his or her retirement. It is the time.

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Presentation transcript:

Retirement Planning Chapter 17

Facts of Retirement Planning It is the responsibility of individuals to prepare his or her retirement. It is the time when someone depends on investment to support his or her living.

Contribution to Social Medicare Employee pays a percentage of her earning to contribute to the plan. Employer pays a percentage of contribution to the plan. Each month both payments are collected.

Receiving Social Security Benefits Begin receiving benefits at full-benefit age. Begin receiving reduced benefits at younger age. Begin receiving larger benefits at a later age.

Projecting Annual Retirement Expenses and Income Someone needs to calculate how much money she needs to support her living costs during retirement. Therefore she needs to calculate how much money she needs to invest starting now in order to be able to receive the amount needed above.

Projecting Annual Retirement Expenses and Income (ctd) This is in order she could live a comfortable style of living. If he needs advice regarding the issues, she may talk to a financial advisor. The main thing to keep in mind is be self- disciplined.