Retirement Planning

I recently was talking to a long term friend of mine about retirement  finances in older age. He exclaimed all the virtues of being very wealthy having more than a hundred thousand dollars to his name in retirement accounts. Well, this really started me thinking that their must be lots of average working people have very little knowledge about investments and retirement planning. First of all only about 10 percent of the total population of American people have a excessive  amount of financial wealth. This puts my friends in a higher income and saving level bracket than most of America. They both have amassed a larger amount of riches due to their income and investment levels over about 17 years. Their are many in working America that live with paychecks that don't know what it is to be financially wealthy.  These are the people who struggle to live and generally don't have a retirement savings in a plan of their choice.  I know that many people try their best to live with what little they have financially so due to being poor they never plan for retirement.. Planning for you and your spouses retirement is a important thing to do so that your setup later in life for after retirement expenses. Any smart investment planner will tell you that you'll need to put away about a third to half of your mutual married lifetime income into these accounts. Your choice of accounts should reflect a broad spectrum of investments into CD,Roth IRA,Stocks,Bonds,Mutual Funds and other investment tools This will achieve a good retirement package being a married couple for your golden years ahead. Financial planning should include expected life changes after retirement. Some examples of items to be considered are hospital medical expenses,doctors,down sizing of your home by selling it, changes in your portfolios value. These expenses i have listed can make you quickly deplete your lifetime savings and put your retirement plan into a tail spin. Always consider what you as a married couple want to mutually achieve for your later years by describing it in detail on paper. When you've agreed to the full plan then start looking for the right investment tools that fit the plan. You should build into your married retirement plan a certain cushion of extra money for items like your favorite golf course,travel on a cruise ship and exotic adventures to Belize,Cancun beaches etc. Think very hard together trying to anticipate even the most basic expenses like the costs food,home, the costs of keeping your cars registered,insured. If your doing everything right together you'll enjoy a great retirement lifestyle filled with long years of happiness and exciting adventure in your later golden years of life.

Have a Great Day..