What are People Doing in Retirement?

Data says that most people are doing hobbies ,travel, and meeting people . Most of the time people are watching TV which is a shame. If you are in good health and can do something that is the key to good health and a good life. Do some part time work or charities to keep your mind busy. Workout everyday to stay in shape. Try to eat good food and not get sick. I know tons of people who do this and live a good life. You of course can do a lot of retirement planning with retirement calculation.

Where can you live for 2000 a Month?

Some countries say in South America like Panama ,Cost Rico, and Mexico. You could live in the United States for less than 2000 dollars .You would need your house paid off .Then you would have your electricity, water, telephone plus food. You would need insurance plus a budget to live on. This is retirement where to begin and good way of saying retirement definition, That means not eating out a lot of the time. Staying home and maybe one trip a year. It will depend on your budget and if you follow it.

I know a person from my state retired from his job and move to Costa Rica and lives on a boat .He loves it.

Facts from Medalerthelp.com

These give retirement meanings to help you. One fourth of people do not have retirement savings. Half of people over 65 live on income less than 25000 . Older income people spend over 45000 a year .Less than one percent people retire before 50 years old. Less one third people live alone.

Retirement Planning

A lot of people are not saving enough for retirement. Employers are cutting back on funding for retirement. Individuals have to take more responsibility for their on retirement accounts. Most people do not have an idea how to invest .You could go to the local bank,mutual fund families, and annuity company. In IRA’S  interest is paid on your principle plus change in the value of your investment. Mutual funds offer many investment options. One option is balance funds where you have professional managers and reasonable administrative costs.

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Asset Allocation

Asset allocation should depend on your age and distance from your retirement of course. You need to know how much income and how much expenses you will pay when you quit working. You got to figure out that you probably going to live longer. You’ll also have to decide whether you are going work when you retire and retirement age. Your current income is a good guide. You should plan on living on 70%-80% on what you presently spending on expenses ,food, clothing, and utilities. Inflation will also affect this. Look up your sources of retirement income such as pension, IRA’S ,401 K, and social security. These could be retirement vanguard, retirement military, or retirement with social security. How will this be when I ready to quit work . Go over what are retirement essentials and why retirement is important.

When investing, analyze your needs , requirements, time horizon and risk tolerance. You design your portfolio by your needs. You need to balance your plan every year to see how the economy is doing. How much stocks and what to put into bonds? You need to be concern about nursing home cost. Private nursing homes run from  $250 a day on up to even more. The average cost is suppose to rise about 5% a year. Health insurance does not cover nursing homes. You might need to get long-term care insurance.

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If you start saving ,start at a low amount.

When saving in IRA or 401 K  start small and build it up. Start with say 10 percent of your salary. The Brokerage Firms can charge fees that are high and not needed. Keep cost down to get a better return on your investment. Make it easy to get your money out without any problems and reduce penalty  expenses. Dollar Cost Averaging is the best way . Put the same amount each month. I do this  even when the market is going up and down. Diversify your investments to reduce risk. Research your investments.

My parents lived on Social Ser. when they got older that was a mistake. They could not do anything. I have a financial plan myself because people are living longer. You need it for retirement and everyday life .A financial plan shows the basics of saving money and how you need to do it. Have a goal to save .Select a good system to go by. Profit from a financial  guru who has a lot of experience. I hope these points have help and read some other ideas on my blog.

You need to save a minimum of 10 % of your Income 

The many mistakes people are making   1)  ignoring inflation  2)erroneously calculating your life expectancy 3) relying too much on social security

If you are thinking about working, old people will consider the flexibility of the job .Autonomy s one of the main considerations.

I have given you some answers to some interesting questions and lot tips .So what you going to do. Move to another country. Stick a budget or save more. Please comment below.