Retirement Planning 101

Thorough Retirement Planning and Adequate Guaranteed Income Are Keys to a Financially Successful Retirement

The NewRetirement Retirement Planner

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  • A realistic assessment
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What do you think of when you imagine yourself retired?

  • 60 years old, throwing a ball to your dog on the beach?
  • Cruises to Europe?
  • Day-trips with grandchildren?
  • Improving your golf game?
  • Taking classes at the local college?

The traditional retirement ideas of absolute unworried leisure may no longer reflect the uncomfortable reality faced by many retirees. We now live longer with greater expenses and – in many cases – have fewer assets.

Retirement dreams – vacations, family and favorite activities - are still possible. But, careful retirement planning and compromise will enable you to avoid nightmares and enjoy your "golden years."

Retirement Planning Rule #1: Guarantee Adequate Retirement Income

The single most important retirement planning rule to keep in mind is to guarantee adequate retirement income to cover your expenses for as long as you might live. Guaranteed income is income that will not go away. Social Security, Annuities, Annuitized Reverse Mortgages, and Pensions are all examples of guaranteed income.

It is also important to have additional retirement assets. And, those retirement assets -- as well as your guaranteed income -- should be adequately protected from inflation, stock market fluctuations, an unforeseen medical crisis or other emergency.

The problems you may face: debt, an over-stretched pension, rising health care costs and unforeseen circumstances may seem insurmountable. However, for all the problems you may encounter in retirement, there is a solution.

For more information on how well prepared you are for retirement, visit the NewRetirement Retirement Calculator. The Retirement Calculator will show you how long your money will last in retirement, compare your finances to averages in your zip code and suggest ways to improve your retirement situation.

Or, explore Retirement Planning topics below.