Creating a Retirement “Paycheck”

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Creating a Retirement Paycheck

Barbara O’Neill, Ph.D., CFP®, Rutgers Cooperative Extension, oneill@aesop.rutgers.edu

As baby boomers (i.e. people born between 1946 and 1964) continue to reach retirement age, increasing attention is being paid in the financial services industry to the concept of creating a “retirement paycheck.” What exactly is a “retirement paycheck?” It is income received on a regular basis after someone stops working. A “retirement paycheck” makes it easy to pay monthly bills, which provides financial security and peace of …

Catch-Up Retirement Planning Strategies for Late Savers

Catch-Up Retirement Planning Strategies for Late Savers

Barbara O’Neill, Ph.D., CFP®, Rutgers Cooperative Extension, oneill@aesop.rutgers.edu

There are several types of late savers who are trying to make up for lost time and accumulate an adequate nest egg for retirement. Are you one of them? Below are three common later saver profiles:

• Procrastinators with little or no past and current savings. This could be for any number of reasons including high monthly living expenses, overextended credit, poor spending habits, lack …

20 Tips for a Successful Retirement

Twenty Tips for a Successful Retirement

Barbara O’Neill, Ph.D., CFP®, Rutgers Cooperative Extension, oneill@aesop.rutgers.edu

 

couple

Retirement planning today is very different than it was 30 or 40 years ago. It is truly not your father’s (or mother’s) retirement. In fact, many people don’t even relate to the word “retirement.” Phrases like “second act,” “third age,” and “refirement” have been used to describe the stage of later life where people transition from full-time work to other pursuits. Some people have even stated …

Retirement Estimator for Farm Families

Whether you are thinking of retiring gradually or about taking the big step all at once, you may wonder whether you can afford to retire. The Retirement estimator for farm families can help guide through that decision making process.

This tool evaluates your financial readiness for retirement.

 

 

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Content Developed By: Sharon DeVaney, Janet Bechman, and George Patrick.
Web Development by Agriculture Information Systems, Purdue University.
Purdue University is an equal access/equal opportunity institution.…

Financial Security: Retirement Planning

retired couple

Planning for retirement is a challenge for everyone. Again, the earlier you begin, the longer you will have to accumulate funds and capitalize on compound interest. A plan designed to meet specific retirement goals may be separate from or part of the investment building block.

Some people have given a great deal of thought to retirement, but others have not. Less than half (42%) of working Americans have made a retirement savings calculation, according to the 2006 Retirement Confidence Survey, …