retirement REVIEW |
||
early expectancy life retirement |
age proposed retirementIt would be great if we could all retire with a nice portfolio of savings and pension income, without having to worry about paying the bills most retired people pay.
Those who love the Rich Dad, Poor Dad books will adore this one. I found it to be the best book in the series since Rich Dad, Poor Dad. Mr. Robert T. Kiyosaki speaks with the authority of experience. He did retire young at 47 while his wife was 37. At that time, his expected annual income was between $80,000 and $125,000. Many people yearn for early retirement with wealth, mostly because they hate their work. Mr. Kiyosaki was soon back at work, establishing new businesses. Most of his wealth was created after he retired. "I keep working because there are so things that need to be done." So, he has clearly moved from earnings a living, to living a mission of self-expression. That's very wonderful, and I hope you will accomplish the same result! Although the subtitle says this is "how to" book, it's really more of a "what to think" book. The fundamental concept is to leverage your mind, your plans, your actions, and your priorities to get wealth faster and more easily. As usual, Rich Dad provides some wonderful quotes. Here are a few of my favorites. "David could beat Goliath because David knew how to use the power of leverage." "Cash flow is the most important word in the world of money. The second most important word is leverage." "Leverage is the reason some people become rich and others do not become rich." "Because leverage is power, some people use it, some abuse it, and others fear it." "Getting rich begins with words and words are free." " . . . do more and more with less and less." The first books in the Rich Dad, Poor Dad series have been about cash flow. This one shifts over to leverage. Section 1 is about leveraging your mind, section 2 looks at leverage from a plan to retire, section 3 addresses leverage from actions. The book goes on to give you a final exam on your attitudes and a challenging thought to chew on to help get you focused properly: making lots of money with no money to start with. Now, any book about leverage would normally have lots of pages on how debt leverage works. In fact, that is only a small part of what this book talks about. You will find that discussion in part of chapter 16, which looks at all of the forms of leverage in real estate. One of the strengths of the book is a fine discussion of how to think about risk and reward. It's not how often you fail, but how big the costs of your failures are compared to the rewards of your successes . . . and your determination to keep trying until you succeed. For instance, 9 out of 10 new businesses fail. But the value of the 1 in 10 that succeed should vastly outweigh the costs of the 9 failures. The book is excellent in warning you against the risks that you are unconsciously taking. Most people have 100% of their financial futures tied up in government pension and Medicare payments and the stock market. Mr. Kiyosaki correctly points out that this assumption is probably faulty, because there are far more Baby Boomers depending on these two resources than there are resources. One part of the leverage concept is to have more streams of cash flow. He also has excellent ideas on how to reduce risk in your current and potential sources of cash flow. You are also given a list of good habits to pursue. And top tips from the prior books are repeated in a convenient section near the end of the book. If you follow the advice in this book, it will be worth more to you and your family than all the other investment and retirement books that you read combined. But you have to take action! Thinking about taking action won't get you there. I would describe this book as being a lot like Tony Robbins's book, Personal Power, except it is focused effectively on the emotional and mental disciples needed for financial security and investing. By the way, I have known many people who have retired young with the assistance of being rich. They all embody the principles captured in this book. By contrast, at age 65 only 5 percent of all Americans will be able to afford to live a wealthy life style. Most will be looking for more income. Act now . . . to have a choice of future life style. Think and live the thoughts that will make you as rich as you want to be! The solutions are there if you look for them.
If you've read some of the Rich Dad, Poor Dad books before, the main new information in this book is an explanation of why stock market investing with pension money is a dangerous way to grow your "wealth." In addition to being at risk from con men, thieves, incompetents, brokerage houses and market volatility, you face the ticking time bomb of a growing number of U. S. investors being legally required to liquidate their holdings beginning at age 70 1/2. As the Baby Boom generation turns 70 1/2 beginning in 2016, the selling moves from being a trickle into being a torrent that overwhelms new funds into the market at some point . . . followed by an inevitable collapse in stock values. If you want a more detailed, confirming discussion of this issue, the book, What If Boomers Can't Retire?, is a good choice. Harry S. Dent, Jr.'s demographic books also look at this issue. If you already believe in the messages of the earlier books, you could skip this one . . . especially if you have already decided to avoid or minimize stock-market investments. If you have read none of the Rich Dad, Poor Dad series, I suggest that you start with Rich Dad, Poor Dad before tackling this one. You'll understand this book better if you do. The other problem with traditional defined contribution pension investing (usually by 401-k plans), of course, is that a pension fund contribution takes lots of cash out of your pocket (unless the employer matching is very generous -- way more than 2:1) to put some money into the retirement account. So you face the possibility of being much poorer in cash flow while you save for retirement investing and poorer when you cash out of the investment after you pay the taxes on what you take back in what could be smaller values. Imagine if you had had to start withdrawing from your pension fund in 1929. That's one nice illustration that I enjoyed in the book. Possibly, the same could occur after 2016. Who knows? The second half of the book advises you on how to build a financial ark against hard times by relying on building cash-generating businesses and investments (such as rental properties) after you achieve your financial education (which you didn't learn in school, even if you got a business degree from most schools). You are encouraged to start small and develop various kinds of control over your emotions, advisors and actions. It's all sound advice. My only complaint is that people who are going to start making real estate investments and building cash-generating businesses need a lot more information than is here. I graded the book down one star, accordingly. The first half of the book could have been shortened up quite a bit, but for those who are unaware of the demographic time bomb's potential effect on their investments, it may help to get the story in small doses. The surprise for a lot of people in this book is going to be that what they hear every day from best-selling "authorities" about the "right rules" of retirement investing could easily turn out to be wrong for them. After you absorb and begin to apply these lessons, I suggest that you think about where in your life the conventional wisdom led you down the wrong path. Where else could that be happening to you now?
1. FAA Proposes Lifting Pilot Retirement Age | Article
30-JAN-07 - The Federal Aviation Administration has proposed raising the retirement age for commercial pilots from 60 to 65, a decision that could... | Free With Signup 2. Australian referendum, 1977 (Retirement of Judges) - Wikipedia, the ... ... Alteration (Retirement of Judges) 1977 proposed to create a retirement age of 70 ... a growing community belief in a compulsory retiring age for judges ... 3. 01-JAN-02 | Prop. Regs. Issued on Age 50 "Catch-up" Deferrals for... Price: $4.95 | The IRS issued proposed regulations on Oct. 23, 2001, explaining retirement plan "catch-up" contributions made by individuals age 50 and over as... 4. Ministry of Manpower | The Retirement Age Act The Retirement Age (RA) Act covers all employees who are Singapore citizens and ... The employee may disagree with the wage cut proposed by his employer. ... 5. IRS RELEASES PHASED RETIREMENT RULES a more restrictive definition of normal retirement age than currently is the case. ... IRS PROPOSED PHASED RETIREMENT REGULATIONS ... 6. Retirement ... of model fee disclosure forms proposed by the Department of Labor and ... AARP Poll of Arkansans Age 40+ on Retirement and Investment: Summary of Top-line ... 7. Government urged to increase retirement age A leading government think-tank has proposed the raising of the retirement age by three years. ... urged to increase retirement age. Friday, 12 Mar 2004 ... 8. Retirement Planning | Aberdein Considine Personal Financial Planning ... by what you can afford and the age when you start paying in to the pension. ... your plans and outline the advantages and disadvantages of any proposed changes. ... 9. Jackaman Smith & Mulley | Solicitors The retirement age will remain at 65, but unless employers follow the correct ... Employers will need to inform staff before the proposed retirement date. ... 10. Employment Law ... retirement age of ... new right for employees to request to work beyond retirement age; ... at least three months before the proposed retirement date. ... 11. Biology can solve the Social Security debate. - By William Saletan ... ... that personal retirement accounts, whatever ... It's the retirement age. ... The Greenspan Commission, which proposed the original age hike to 67, solved ... 12. [4830-01-p] DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR ... ... because of the attainment of any age. In addition, the proposed ... benefits after normal retirement age is treated as satisfied to the extent benefits are ... 13. Coalition to Preserve the Defined Benefit System ... the U.S. Treasury Department concerning retirement plans and age discrimination. ... on Proposed Regulations on Age Discrimination in Retirement Plans: Testimony ... 14. [4830-01-p] Published November 10, 2004 DEPARTMENT OF TREASURY Internal ... ... of retirement funds and violation of age discrimination laws, ... of normal retirement age. The proposed regulations define a bona fide phased retirement ... 15. Employment Law ... 29 September. You are here: home " info " Elas Articles " Age Discrimination. Age Discrimination ... Charles House, Albert Street, Eccles, Manchester, M30 ... 16. FRA | Reserve Retirement Age Change Proposed ... by Senator Saxby Chambliss (Ga.) to reduce the minimum Reserve retirement age... reserve, retirment age, s. 648, H.R. 1428 ... 17. USATODAY.com - Senator to propose raising retirement age A leading Republican senator is proposing to raise the Social Security retirement age from 67 to 68, while Democrats maintain their opposition to the president's ... 18. Senator Hagel to Propose Raising Retirement Age [Archive] - Bressler ... [Archive] Senator Hagel to Propose Raising Retirement Age 2005 Archive ... is proposing to raise the Social Security retirement age from 67 to 68, while ... 19. Flexible Retirement and Retirement: Age Positive Guide Top tips and checklists for you to make your retirement policy more age positive ... proposed retirement date. They must state. whether they wish to continue working ... 20. Comments on the Proposed Regulations Regarding Distributions from a ... ... Regarding Selection of a Normal Retirement Age. February 2, 2005 ... (Part 1) addresses proposed rules governing selection of a normal retirement age. ... 21. AOPA Online: Mandatory pilot retirement age increases "While the mandatory retirement age isn't a core AOPA issue, we have been ... increase the retirement age earlier this year after the FAA proposed raising it ... 22. Republicans Propose Retirement Age of 69 - TalkLeft: The Politics Of Crime Liberal coverage of crime-related political and ... Re: Republicans Propose Retirement Age of 69 (none / 0) (#1) ... It was proposed by Dan Rostenkowski (D-IL) ... 23. Our response to proposed EU directive age equality employment ... The Government has failed to embrace a real opportunity to move with the times and make forced retirement a thing of the past. 24. 2008 Proposed Benefit Improvement Question and Answer formula, and have a normal retirement age of 66. See page 6 for a quick reference guide to the ... at retirement and your normal retirement age. For example, ... 25. ComPilots Aviation News Portal - FAA to Propose Pilot Retirement Age Change ... the FAA will propose to raise the mandatory retirement age for U.S. commercial ... to issue a formal Notice of Proposed Rulemaking (NPRM) later this year and will ... 26. February 2005 | Age Concern England Our response to the DWP's proposed reform of incapacity benefit in the 5-year plan (02.02.05) ... Pension benefit advice - retirement and pension benefits and advice ... 27. Factsheet 9 - Retirement The normal retirement age in USS is 65. In ... In addition, even if your contractual retirement age is ... would have been bought by proposed retirement date ... 28. Landau Zeffertt Weir: Employment Law - Bonuses ... be dismissed at 65 (the default retirement age) and yet cannot bring a claim for ... at least 4 weeks before the end of the proposed retirement date. ... 29. bank: tracker Get great rates and lots more with a mortgage from www.smile.co.uk ? ... Term extends into your proposed retirement age, it is your responsibility to ... 30. Professionals news on aging with Agetimes.com The Age Discrimination in Employment Act and the Challenge of Population Aging ... More Workers Employed After Traditional Retirement Years ... 31. FAA Bumps Airline Pilot Retirement Age Federal Aviation Administration (FAA) Administrator Marion Blakey announced that the FAA will propose raising the mandatory retirement age for U.S. commercial pilots ... 32. EnterpriseOne - Retirement Age Act ... Topics > Hiring & Training > Laws & Regulations > Retirement Age Act ... cannot agree on the wage cut proposed, then either party can ask for retirement. ... 33. Impacts of the Proposed Erickson Retirement Community on the Village of ... Erickson Retirement Communities has proposed a 69.1 acre campus to be ... The proposed retirement community will increase the voting age population of Evendale ... 34. IRS Defines Normal Retirement Age ... proposed regulations that would sanction "bona fide phased-retirement programs" under which ... to language relating to the typical industry retirement age. ... 35. Senator to Propose Raising Retirement Age Senator to Propose Raising Retirement Age. AP ^ | 3-7-2005 | NEDRA PICKLER ... That is the only thing I am completely against is raising the retirement age. ... 36. Press Release - FAA to Propose Pilot Retirement Age Change ... today announced that the FAA will propose to raise the mandatory retirement ... to issue a formal Notice of Proposed Rulemaking (NPRM) later this year and will ... 37. INITIAL COMMENTS OF THE ERISA INDUSTRY COMMITTEE PROPOSED TREASURY ... Like the proposed regulation, the rule we propose ... early retirement age than in subsequent years, the proposed ... retirement age: The proposed regulations ... 38. IRS Issues Final Regulations Relating to Phased Retirement The IRS on May 22, 2008 issued final regulations on making in-service distributions ... to participants who had reached normal retirement age, those proposed ... 39. Watson Wyatt - Insider Also proposed is a change to the definition of normal retirement age that could ... Under the proposed regulations, normal retirement age "cannot be earlier than ...
age proposed retirement online resources. |
|
