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age of retirement for state pensionIt 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.
A VERY IMPORTANT piece of investing advice that Mr. O'Shaughnessy advises against is the use of stop-limit orders in his portfolios. By neglecting to use this very important investment tool, you open yourself up to huge losses in the very questionable turnaround stocks that have just been run up in price. Most of these WILL go down and many they will go down big and not recover. Take the advise of someone that has been watching (and burned very badly) by taking his advice and not using stop-limit prices, USE THEM IF YOU EMPLOY THIS VERY RISKY STRATEGIE!!! If you look at ANY of his mutual funds, you will clearly see that the performance of all of his funds badly trails the SP 500. His expense ratios are also out of line to the high side, something that he warns against in this book. The three pieces of advice that are of any value in the entire book are to establish a plan, stick to it, and, if 87% (or so) of mutual funds (including his) do not match the performance of the SP 500, why are you investing in anything other than the SP 500? Good luck to all!!!
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. Understanding the basic State Pension : Directgov - Money, tax and benefits
Pensions and retirement. State Pension. Motoring. Travel and transport ... The State Pension age for women born on or after 6 April 1950 but before 6 April ... 2. The Pension Service - State Pension - Basic State Pension Information on State Pension, formerly known as retirement pension, from The Pension Service, part of the Department for Work and Pensions, UK. 3. Pension - Wikipedia, the free encyclopedia Individuals will qualify for the basic state pension if they have completed ... One method of reforming the pension system is to increase the retirement age. ... 4. Retirement UK | state pensions | retirement benefits The basic state pension will be paid in full if an individual has been credited with NI contributions for the majority ... of the retirement age, the state ... 5. Irish State Retirement Pensions, Pension, Contributory, Non ... ... 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State Retirement Pension - Social Security Agency From 2010 there are changes to the state pension age for women. ... after the age of 60 she can receive State Retirement Pension based on her ... 18. financial a-z - state retirement age / SRA state pension age. currently this is age 60 for women and 65 for men. ... of a pension scheme normally becomes entitled to receive his/her retirement benefits. ... 19. Retirement countdown - Planning your retirement - Your money - Which ... guide on what state pensions, and how much you'll need to stump up; The low-down ... employer knows when you are over state pension age, as you do not need to pay ... 20. Understand more about state pensions Retirement guides. Fidelity Personal Pension (SIPP) guide ... For a better understanding and to help you plan, you should get a State Pension ... 21. About You - You and your family - Retirement - The State Pension ... For women you need between 39 qualifying years (if your state retirement age is ... in the number of years required to qualify for a full basic state pension. ... 22. What is the 'normal' retirement age to be used in pension valuation? In a recent decision, the state Superior Court provided much-needed direction on ... it is established that the average age of retirement for a Pittsburgh police ... 23. Raising the State Pension Age The length of time spent in retirement : state and private pension income ... from age 60. For late retirement, both state and private pensions are assumed to ... 24. State Pensions and Benefits - Financing Retirement (UK) All state pensions and benefits should be applied for before, or as soon as state retirement age is due to ensure prompt payment and to confirm eligibility. 25. Planning your retirement income | Age Concern England ... looks at your financial questions as you approach retirement age. ... The age at which you can draw your state pension is currently 65 for men and 60 for women. ... 26. Who Gets Your Pension - Death Before Retirement It is important to look at a pension fund from every possible angle, and this unfortunately includes who will receive it ... people of state pension age, at ... 27. Working in retirement in Ireland-Information from CitizensInformation.ie ... of working in retirement on social welfare benefits, entitlement to pensions ... At age 66, you may continue to receive State Pension (Transition) or you may ... 28. Retirement Planning - Pensions and Retirement Planning in Malta from ... A guide to pensions and retirement in Malta from MSV Life - Middlesea Valletta Life ... live until age 79. The average State Pension paid in 2005 was just 80% of the ... 29. State pension - Planning your retirement - Your money - Which? Advice If you reach state pension age before 6 April 2010, men need 44 years of ... 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The publication, 'Link-Age: developing networks of services for older people' ... 39. Retirement age and pension age confusion reigns Retirement age and pension age confusion reigns: Management and Business News ... The State Pension Age is insignificant for those already dependent on benefits ... 40. What Exactly Do You Get With An Old Age Pension? Do you know how much Old Age Pension you will receive on retirement? ... enough for 44 years in order to qualify for a State Pension at the age of 65. ...
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