Planning for Retirement

Planning for Retirement:

Information, advice, articles and blogs helping you to plan well to ease the transition to retirement.

Silver-Top band members play, dance, and enjoy their retirement.

A&E | Published: Fri, Oct 3, 2008
Band leader Gary Johnson performs with his Oklahoma City-based band

For Gary Johnson, 66, retirement is a smooth, toe-tapping jazz standard. The leader of the Oklahoma City-based band the Silver-Tops lived in Ponca City for 30 years before retiring from his job as a chemical engineer five years ago. He moved to Oklahoma City to enjoy his golden years.

Calculating for retirement

Business | Published: Fri, Oct 3, 2008
Gene Matthews and Angie Matthews enjoy their free time at their home in Edmond, OK, Friday, Aug. 29, 2008. BY PAUL HELLSTERN, THE OKLAHOMAN ORG XMIT: KOD

After Gene Matthews spent a quarter century working for an oil company, he and his wife Angie examined their financial situation.

Savings needs

Business | Published: Fri, Oct 3, 2008

How much do you need to retire?

Figure at least 70 percent of your current income, experts say. Don’t look to Social Security to provide more than 39 percent of what you’ll need. Count on living to 78 — or longer. And, to be fully financially secure, factor in expenses for poor health. If you make $50,000 a year and retire now at full retirement age, your nest egg, according to an AARP analysis, should be $664,100.

Classes for seniors

Business | Published: Fri, Oct 3, 2008

Francis Tuttle Technology Center is offering several classes in October of interest to retirees.

Retirement facts

Business | Published: Fri, Oct 3, 2008

How much to save

Save 13 percent of your income every year, starting at age 35; ideally earlier.

Business | Published: Fri, Oct 3, 2008

Saving for retirement vs. college

Business | Published: Fri, Oct 3, 2008

Some people make saving for their children’s college education a priority over investing their retirement.

Financial advisors say that’s a mistake.

“You can borrow money for your kids to go to school, but you can’t borrow money for retirement,” said Richard Finley, financial advisor and owner of Finely & Cook LLC in Shawnee.

Questions and answers on retirement saving

Business | Published: Fri, Oct 3, 2008

These questions were submitted to the Oklahoma Society of CPAs at www.KnowWhatCounts.org. The answers are from Jimmy J. Williams, managing partner of Jimmy J. Williams & Co. P.C. in McAlester.

Insurance for retirement

Business | Published: Fri, Oct 3, 2008

How do I obtain insurance in retirement, and how much will it cost me?

Here's the big question: Do any requirements for insurance disappear in retirement?

Here's the big answer: Possibly. So it might be Foolish to see what we can expect.

Medicare

Business | Published: Fri, Oct 3, 2008

Oklahoma retirees — depending upon age, income and eligibility — can be assisted by a pair of long-standing government health-care programs: Medicare and Medicaid.

It’s tough to over-save for retirement

Business | Published: Fri, Oct 3, 2008

The personal savings rate in the United States is negative 1 percent, the poorest showing since the Great Depression.

While that figure fails to take into account some measures of net worth, such as increased equity in one’s home, it should stand as a stark reminder for those hoping to build a retirement fund, investment experts say.

Planning for retirement

Business | Published: Fri, Oct 3, 2008

Inertia, statistics show, accounts for much of the reason workers don’t save enough for retirement. Among those with employer-sponsored retirement plans, one in every four fails to enroll. But when employers automatically enroll employees in plans with investments targeted to their retirement age — as many are now doing — only about one-fourth of those would-be nonparticipants opt out.

 
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