Steps to Retirement

The topic for this week are some simple steps to take to get ready to retire. At the end are some quotes on retirement for your enjoyment.


Vanguard Info

News on the housing market was a hot property this week, though results were mixed. While home sales and starts declined last month, their improvement over the last few years seems to show that the housing market—the core of the last financial crisis—may be digging itself out of a 7-year hole. Meanwhile, an important gauge of future economic activity rose for the 5th consecutive month. For the week ended March 23, the S&P 500 Index fell 0.5% to 1,397.11 (for a year-to-date total return—including price change plus dividends—of about 11.6%). The yield on the 10-year U.S. Treasury note fell 6 basis points to 2.25% (for a year-to-date increase of 36 basis points).


Steps to Retirement

Some steps to take to get ready for retirement:

1) Save 10% of your income from each paycheck
2) Pay off your home mortgage to reduce expenses when retirement starts
3) Get a new car and have it paid off to have lower repair costs when retirement starts
4) Invest for growth not income
5) Calculate current annual living expenses
6) Guess when you want to retire
7) Calculate retirement annual income from Social Security, Pensions, etc. at this retirement age.
8) Calculate the difference between income and expense
9) Determine the amount of savings needed by multiplying the answer in step 8 by at least 20
10) If you do not have enough retirement savings call me and develop a plan


Retirement Quotes

Preparation for old age should begin not later than one's teens. A life which is empty of purpose until 65 will not suddenly become filled on retirement.
Arthur E. Morgan

Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give.
William A. Ward

The best time to start thinking about your retirement is before the boss does.
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