...Barry Cameron UIN # 00728497 FIN 317 Mon 4:20 SUCESSFUL RETIREMENT PLANNING THE DESIRE TO RETIRE Everybody looks forward to the day that they no longer have to fight traffic or deal with an unappreciative boss. A time when one can focus on more meaningful things in one’s life. Spending more time with family, traveling, hobbies, volunteer work, becoming more active in the community or church; or “do nothing” as forty percent of Americans plan to do upon retiring from the work force. Without the promise of retirement, many would find it very difficult to get out of bed and head to work each morning. “Retirement is a fairly recent phenomenon. At the beginning of the nineteenth century, few people retired, because they simply could not afford to do so. As white – collar jobs replaced a predominantly agricultural economy incomes rose and people had more money with which to retire” (Cullinane and Fitzgerald, 3). People began living longer and found that they had more leisure activities from which to choose from. In the United States, the invention of social security and company pensions greatly contributed to the ability of Americans to retire from the work force. RETIREMENT PLANNING Retirement Planning is an attempt to figure out how much money you need to save each month in order to have a comfortable retirement. It is an attempt because retirement planning requires you to try to predict the future. Nobody really knows what kind of return their...
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...hands of shareholders. Reflect any issue/ retire stock transaction at the beginning of this year * Price Per Share: stock price as of yesterday’s close. Stock will be issued or retired at this price. * Earnings Per Share: this year’s projected earnings per share, defined as proforma profits divided by common shares: * Max Stock Issue: The dollar value of new shares your board of directors has authorized for sale to the public this year. You can issue up to 20% of the outstanding shares each year. For example, suppose you have 2 million shares outstanding, and the stock price is $30.00 on January 1st. You could issue 400 thousand new shares at $30 and raise a maximum of $12 million. If you choose to issue stock, you cannot exceed this limit. * Issue Stock: The amount of money you would like to raise this year by selling common stock to the public. You are limited to the amount in "Max Stock Issue". (The spreadsheet will let you enter numbers greater than Max Stock Issue, but amounts above the limit are ignored.) * Maxt Stock Retire: The limit set by the board of directors upon stock repurchases this year. You can retire up to 5% of the outstanding shares each year, but not more than the total equity of your company. For example, suppose you have 2 million shares outstanding, and the stock price is $30.00 on January 1st. You could retire 100 thousand shares at $30 for at total of $3 million. If you decide to retire stock, you cannot exceed this limit. *...
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... p.6 Medical Care p.7 Weather p.7 Conclusion p.8 Statistics p.10 References p.11 Abstract There are many places one can retire when that time comes but there are also various factors that play an important role in deciding where to retire. We all will get there one day so it’s best to start planning now and consider the following: crime rates, location (is the city a safe place to live?), education, climate, economy (is the area affordable?), transportation accessibility, recreational activities, and population. Although there are many other variables one can examine, these are the factors that are most important to me. I selected the three cities that I would like to retire based on the above factors and in choosing the location, for example I wanted to ensure that the area would be nearby public transportation, hospitals or medical facilities because it is very crucial to my health and well-being, and to ensure that I would be near the things that I like to do and places that I like to go such as the beaches, restaurants, and movies. I love the ocean waters or any...
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...know if becoming a doctor in the near future is something worth considering. On the surface becoming a physician was always a great and lucrative job, but is that still the case? The numbers from this particular article would say that might not be the case as physicians aren’t moving around as they once did. The people in the profession are scared to death so they are sticking with the stability in staying put other than moving around for greener pastures. Although job stability is a good thing to have, in the medical field is built for people to move around because it creates new jobs for the new doctors coming up. So there is a dilemma with becoming a doctor these days because the doctors are not moving and they are not in a rush to retire which is also blocking up and coming doctors. Considering the debt that is accrued during the time it takes to become a doctor and the amount of time it takes to become a doctor (10-14 years), not being able to find a job is very discouraging. With all that going on I’m going to show her that if she has a passion for this profession then she should definitely go for it. Demand Study results are suggesting that demand is growing a lot faster than supply. Demand for physicians continues to grow faster than supply, leading to a projected shortfall of between 46,100 and 90,400 physicians by 2025. Although physician supply is projected to increase modestly between 2013 and 2025, demand will grow more steeply (Exhibit ES-1). Across scenarios...
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...Name: Ryan Village I. Problems A. Macro 1. The Sundale Club needs to figure out a way to gain more members so they can keep the club open. The club needs to analyze the situation they are in and make some big decisions in regards to change that will help them gain a good reputation. 2. Sundale Club needs to have a meeting with the human resources department. At this meeting the owners need to address the lack of involvement that the human resources department is having when hiring and training the staff. B. Micro 1. It seems that communication is one of the biggest issues that Sundale is currently dealing with. There is a lack of communication between the staff and the managers, which is causing problems with the overall structure of the club. 2. It seems as if the current staff is discouraged and unhappy due to Mr. Johnson’s actions. 3. Many members of the organization are afraid to speak up because they fear they will lose their jobs. Favoritism was used when Pat Franklin was over looked for a promotion that was then given to Mr. Johnson because of the personal relationship between him and Ted Ellis. II. Causes 1. No recognition for the Sundale Club staff and the fact that Pat was over looked for a promotion. 2. The personal relationship between Chuck Johnson and ted Ellis withdraw from goals that the organization had set in place. 3. The fact that Bob Watts is going to be retiring in the near future is diminishing interest in problems...
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...Security be around when you retire? Should you rely on Social Security to cover 100% of your needs? Relying on Social Security 100% for your retirement needs could put your retirement years in financial hardship. Retirement could have different meanings for different people. Some people define retirement as no longer working; spending their golden years traveling and spending time with their spouse and/or family. To some, retirement means leaving their job they have worked at for many years and going to work part time at a job. If you plan on relying 100% on Social Security for your retirement, you may find that the part time job is no longer an option but a necessity. Social Security is a much like health insurance, it is not meant to pay all of your expenses. For example, your health insurance has a deductible you have to meet each year before the health insurance company pays 100% of your medical bills. Health insurance is intended to share the cost of medical bills, just like Social Security is intended to share the cost of the retirement needs and help prevent financial hardship. Think of the expenses you currently have, and while some expenses might go away as your become older or retire, the cost of living is constantly going up. The average person will only collect approximately 40% of what they were earning before retirement. If you currently make $70,000 per year and are accustomed to living a $70,000 per year lifestyle, when you retire, you will be receiving...
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...Retirement Planning and Social Security In the United States, we do not need to plan for retirement. Social Security will cover our needs when we retire. This is a common misconception among Americans simply because the Social Security program has been such a vital part of most everyone who has retired in our country for so many generations. We as Americans have grown to trust that our country is going to be not only able to give a portion back to us in our older years, but we feel it is our right as Americans to finally receive a little financial peace after a lifetime of labor and dedication. While all of these feelings are completely justified, there are a few questions we need to ask ourselves to ensure that freedom. We need to decide what exactly are our needs going to be at this point in our lives, and what we can realistically look forward to from Social Security, and finally educate ourselves on the alternatives and supplements that may be offered to us. Naturally you will want to know how long your retirement money will last you. First you must tackle an even tougher question; How long will you live? The life expectance for both men and women has increased over the past several years mostly due to such great strides in healthcare. If we only knew what to expect it would make planning much more precise. There are a few fun ways to gather an educated guess, by going to the Paul Beson Faculty Scholarships Aging Research Program you are able to fill out a life expectancy...
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...[pic]Ageism: Future Planning After Retire In The Military INTRODUCTION Ageism What is ageism? Regarding to Wikipedia, Ageism, or age discrimination is stereotyping and discriminating against individuals or groups because of their age. Age discrimination refers to the actions taken to deny or limit opportunities to people on the basis of age. These are usually actions taken as a result of one’s ageist beliefs and attitudes. Ageism is a form of discrimination, which is based on someone's chronological age. Many people use this term specifically to refer to discrimination against older people, but ageism can strike people of all ages. Like other forms of discrimination, ageism can be extremely harmful, especially when it is viewed as culturally normal and acceptable. In some regions of the world, campaigns to fight ageism have been initiated in an attempt to educate people and stamp out ageism. Age discrimination occurs on both a personal and institutional level. On a personal level, an older person may be told that he or she is too old to engage in certain physical activities, like an informal game of basketball between friends and family. A younger person may be told they are too young to get a job or help move the dining room table. On an institutional level, there are policies and regulations in place that limit opportunities to people of certain ages and deny them to all others. The law, for instance, requires that all young persons must be at least 16...
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...In discussing and evaluating Alice’s goals, I will use the SMART planning model in the form of answering and evaluating her goals to see how achievable the goals are. a) Pay off student loan Specific: Alice has to pay off her student loan of $ 53,000. She is paying $7,720 annually. Measurable: At the end of the year she has to make a total payment of $7,720. Achievable: It is possible for her to make this payment since she does this from her income. Results: She has to pay back this loan in order that she will have sufficient disposable income that can be saved to acquire assets Time: Paying $7,720 annually will mean she will complete the student loan in a little after 6 years. b) Buy a house and save for children’s education Specific: Alice needs to buy a house and save for her children’s education Measurable: Presently she saves $400 annually. Saving this amount annually cannot enable her to buy a house and save money for her children’s education. It will be difficult to accomplish this goal. She will have to have more income to accomplish this goal. Achievable: It will be possible for her to buy a house and save for the education of her children if she increases her income. Alice is already paying her student loan, and when she finishes payment, she will have more income to save for education and buy a house. Saving enough money for her children’s education will what Alice has to look into seriously as she will need more income to do that. Results:...
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...A pension is defined as a benefit promised to an employee when they retire and are no longer receiving a regular salary. There are two main versions of pensions in Canada, these are: * Defined Benefit Pension Plan- This plan has a set amount of money that needs to be in the pension account when the employee is retiring. This amount is found using a formula that is mainly based on years of service to the company and the employee’s salary. The employer continues to make payments into the pension account, and pays the employee the pension when they are retiring. This means that all the risk associated with this pension plan is placed on the employer. Some advantages to this plan are the security of your pension; you know exactly how much you should receive at the end of your working life time and know exactly how much is being paid into the pension each time. This pension plan also has some definite disadvantages as well. The biggest one is that the money you are placing into the pool of pensions can be invested into anything that the trustees feel fit to invest in, and you have no say in what they invest in. This may become a problem if the investments don’t work out and there is a huge loss in the pension pool, resulting in a higher risk of you not receiving your pension as you retire. However this risk is placed on the employer and gives a better sense of security for the employees’ pension. The employer is forced to pay more money into the pension to make up the difference...
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...have you had in your life? Switching from week day high school environment to real world outside of school and adapting to it. 1. What has been your favorite memory so far? Getting his first pay check and realizing he can make money by himself and be independent. 2. After you retire (if not yet) what are your plans? Hasn’t really thought about but take care of his family and go on vaca. To somewhere hes always wanted to. 3. What age do you think is good to stop having kids? 40 4. What was your first career choice(when you were younger)? A Dr. 5. What is one thing present in life you would want to change? His job, wishes he worked more and made more to feel comfortable. Person 2: Middle-Age Adult (Mom) How does middle age differ from other ages? Should be in a better financial situation, smarter about things, and establishing your career. When do you think a person becomes old? 70 What has been the best period of your life so far? The last 2 years Do you (or did you) look forward to retiring? Absolutely What major changes have you had in your life? A good relationship and financially sound. 1. What has been your favorite memory so far? The day her children were born. 2. After you retire (if not yet) what are your plans? To move to a warm state. 3. What age do you think is good to stop having kids? 38 4. What was your first career choice? A...
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...Retirement: The End of the Road? Retiring is another life decision that many have to make. It’s not always easy or well thought out because like many choices people are forced to think and react quickly. There are different factors that influence one’s decision and the choice is not always what you had planned. Studies and researchers have suggested reasons why people retire and have explained life after work, but times have changed which means people have changed. Retiring does not have the same value for everyone; it is not what some look forward too because everyone will not retire and live a life of luxury. Retirement is not the same experience for everyone, but it does open doors to a new life experience. Although there are many reasons and different views and outlooks, retiring could be full of opportunities and possibilities. Retirement is what you make it. Sixty-five is not the magical number of retirees anymore. Some are retiring early while others sixty-five and older are still working. Family, health, race and gender are some aspects that influence one to retire. “Men are more likely to decide to retire when their wives become eligible for Social Security ben¬efits; wives are more likely to be influenced by their husbands’ decisions and the couples’ overall eco¬nomic situation”, (Markson, E. W. & Stein, P. J., pp. 212, 2012). Women earn less so they have less money saved. They don’t know how to plan so they don’t know what do. They don’t invest and if they don’t they...
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...Retirement Planning and Social Security In the United States, we do not need to plan for retirement. Social Security will cover our needs when we retire. This is a common misconception among Americans simply because the Social Security program has been such a vital part of most everyone who has retired in our country for so many generations. We as Americans have grown to trust that our country is going to be not only able to give a portion back to us in our older years, but we feel it is our right as Americans to finally receive a little financial peace after a lifetime of labor and dedication. While all of these feelings are completely justified, there are a few questions we need to ask ourselves to ensure that freedom. We need to decide what exactly are our needs going to be at this point in our lives, and what we can realistically look forward to from Social Security, and finally educate ourselves on the alternatives and supplements that may be offered to us. Naturally you will want to know how long your retirement money will last you. First you must tackle an even tougher question; How long will you live? The life expectance for both men and women has increased over the past several years mostly due to such great strides in healthcare. If we only knew what to expect it would make planning much more precise. There are a few fun ways to gather an educated guess, by going to the Paul Beson Faculty Scholarships Aging Research Program you are able to fill out a life expectancy...
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...Social Security as a Form of Retirement It has been argued that there is no need for a separate retirement plan because when we reach the retirement age Social Security will cover our needs. The truth is American’s don’t know that the Social Security System is failing. To meet your own personal needs when their needs when they retire, all American’s are in need of a retirement plan. Millions of the country’s citizens depend on Social Security, yet the program is unsustainable. . “But Social Security was never meant to be the only source of income for people when they retire. Social Security replaces about 40 percent of an average wage earners income after retiring and most financial advisors say retirees will need 70 percent or more of pre-retirement earnings to live comfortably” (Social Security Online, 2011 para. 4). Continual changes in the Social Security System make it almost impossible to count on Social Security as a sole source as a retirement plan Social Security is a fixed income that increases marginally. Retirement is something that should be planned for carefully. The Social Security Program was created to provide benefits to retirees, the disabled, survivors of workers who have died, and dependents of beneficiaries. ”A one-time payment of $255 is payable to the surviving spouse if he or she was living with the beneficiary at the time of death, OR if living apart, was eligible for Social Security benefits on the beneficiary's earnings record for the month of...
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...will they support themselves when they retire. To help aid retirees, in August 1935, the government established the Social Security Trust fund for retired workers, unemployment insurance, benefits for victims of industrial accidents, the blind, aid for dependent mothers and children, and the physically handicapped(Historical Background and Development of Social Security, 2010). However, the Social Security system is facing serious financial problems due because of a lack of jobs, high unemployment, and layoff rates. So there is no guarantee that Social Security benefits will be available for them when they retire, and therefore should not be used for their retirement safety net. In 2016, the Social Security system will begin paying more in benefits than they collect in taxes (2009 OASDI Trustees Report, 2009). Without changes by 2037, the Social Security Trust Fund will become exhausted and they will only be able to pay out 76% of scheduled benefits (2009 OASDI Trustees Report, 2009). If changes are not made be 2037, many Americans may have to work long into their retirement years because only receiving 76% of their benefits will not be a sufficient income. Most Americans, do not think that they will have to work extra years before they can retire, but with the average life expectancy in the United States currently at 78 years (CDC Centers for Disease Control and Prevention, 2010), many retirees may never obtain the opportunity to retire. To receive full retirement benefits,...
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