retirement REVIEW |
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gay planning retirement |
state retirement 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.
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?
This guide was an excellent starting point, covering all the major options available to me and clearing up a lot of the jargon. It even contains sections on maximising the performance of your pension. This is the 1999 edition, but still contains reasonably current advice on Stakeholder pension plans. Considering the often tiresome nature of the subject matter, this is all highly informative stuff.
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.
1. 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. 2. State Pension : Directgov - Over 50s Find out about the basic State Pension, additional State Pension, how to get a State Pension forecast and other benefits in retirement 3. Understanding the basic State Pension : Directgov - Money, tax and benefits ... to know about the basic State Pension - what it is, who qualifies ... Pensions and retirement. State Pension. Motoring. Travel and transport. Browse by people ... 4. Retirement UK | state pensions | retirement benefits The basic state pension will be paid in full if an individual has been credited ... in the UK that are dependent on state pensions at retirement age because they ... 5. State retirement pension - Help the Aged Learn about the pension crisis; State retirement entitlement; pension credits and claiming benefits. ... State Retirement Pension ... 6. 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State Pension - Basic State Pension - Prudential UK Financial information on Prudential insurance products ranging from Home, Motor ... The changing retirement landscape Saving and investing Building up a pension ... 20. 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. 21. Union of Shop, Distributive and Allied Workers: Pensions subsite pages ... State Pensions. Contact The Pensions Service. Retirement Pension. State Second Pension and SERPS ... The standard rate of retirement pension for a man or woman ... 22. Pensions The Basic State Retirement Pension. The Basic State Retirement Pension is a ... The basic state retirement pension will only be paid in full if you have paid, ... 23. You and your money Retirement. The pension reforms. The state pension. 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You can get a forecast of what your Retirement Pension and State Second Pension will be. ... 28. Teachers' Pensions - Estimate of Retirement Benefits FAQs Your State Retirement Pension Forecast Estimate Of Retirement Benefits ... By law, the Government must review the amount of State Pension every year. ... 29. Politics Of Retirement In Britain, 1878-1948 at Tesco Books Buy Politics Of Retirement In Britain, 1878-1948 by John Macnicol for only £61.75 at Tesco.com. Tesco's has thousands of other books for you to get stuck into 30. Income from Pension - Pension Income - Prudential Learn more about income from pensions with Prudential UK. ... State retirement age is 65 for men, 60 for women (increasing gradually to 65 ... 31. Irish State Retirement Pensions, Pension, Contributory, Non ... Ireland's Business and Financial Information Resource- Finfacts Mortgages Life Pensions Investment Centre - Irish State Retirement Pensions, Pension, Contributory, ... 32. State pension provision The State currently provides retirement income to women from age 60 and men from ... Retirement income from the State comes in two main forms: Basic State Pension ... 33. Firm Foundation for Retirement A Firm Foundation for Retirement: Response by Citizens Advice to the Green ... role of this basic state retirement pension (BSP) has been undermined because ... 34. Basic state pension - Wikipedia, the free encyclopedia ... State Pension (also known as the Basic Retirement Pension) is ... Graduated Retirement Benefit. Pensions Credit. State Earnings-Related Pension Scheme ... 35. Fry Group - State Pension The state pension does provide a very cost-effective means of saving for later years, but cannot, on its own, provide an adequate retirement fund. 36. Maryland State Retirement and Pension System Maryland State Retirement and Pension System website ... The State Retirement and Pension System provides important coverage both during ... 37. 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state retirement pension online resources. |
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