Retirement Plan
By Winky
@msfrancisco9369 (10002)
Boston, Massachusetts
October 25, 2009 10:36am CST
1.Retirement Plan
As early as today I already have an idea of what my retirement plan (to materialize 25 years from now) would be. I am considering early retirement (maybe when I reach 45) so that I will have more quality time for my family. I want to spend the remaining days of my life with my family while I am still mobile and can actively join them in some physical activities.
1. Have a house
2. Car
3. Travel with my family
4. More time with my husband –Trip to Paris for our second honeymoon
5. More time with my grandchildren
6. Enough savings
7. Established and owned a small business
8. Secured Death Insurance Plan
9. Involvement in Church and Community Outreach activities
10.Established and Maintain a healthy lifestyle and diet
How about you, please share how you go about preparing for your retirement or how it looks like. I need some tips to make my retirement plan a SMART one.
9 responses
@LovingLife139 (1504)
• United States
25 Oct 09
Hi! I actually started my retirement account last year when I turned twenty. I don't plan on retiring at all, however. My career field (real estate) doesn't take many hours of actual labor, so well into my elder years I will be able to continue working, especially if I can pay others to do the work I cannot do at that point. Either way, my husband and I both have retirement plans (an IRA and a 401K) so we don't run into a hole later on in life.
A tip I'd have for you is to always think big in terms of retirement. You may not want to put a lot of money into it now because it's simply gone to you in present terms. However, once you retire, if you hit a rut, you certainly won't want to return to work! Research your options. Figure out what kind of retirement plan is best for you and start it ASAP. My husband's dad doesn't have a retirement plan yet, and he's into his forties. What a mistake! 
He asked us what he could do to get started, and we both believed a 401K plan should be started immediately and maybe some investments looked into as well. It's never too early to plan for retirement. Putting it off is never beneficial.
Best of luck...think big and think practically. 
He asked us what he could do to get started, and we both believed a 401K plan should be started immediately and maybe some investments looked into as well. It's never too early to plan for retirement. Putting it off is never beneficial.
Best of luck...think big and think practically. @msfrancisco9369 (10002)
• Boston, Massachusetts
26 Oct 09
Hi Lovinglife139,
Your inputs as it relates to retirement plan are well taken. Thank you and we will consider some of the key points that you mentioned in your discussion.
I admire you for having a positive outlook in life at twenty with all your savings and realization about preparing for the future.
Your account name says it all...
1 person likes this
@msfrancisco9369 (10002)
• Boston, Massachusetts
26 Oct 09
Hi Vandana,
She is so smart at 20... i hope there will more young people around who is so focus about their goals in life and how to achieve it.
Let's hope that our young mylotters will have the chance to read this and take this seriously.
THanks for dropping some lines Ms. V.
@carrine (2743)
• Philippines
26 Oct 09
wow.. i admired you for having those in your life. very well planned. very good huh? me? im preparing for my retirement also, iam 31 now and and im still paying for my SSS thats a savings for retirement, i dont have house, i already have a lot LOL, dont have yet car, but soon im planning to have. i have my memorial plan. so far thats what of what i have now.
@msfrancisco9369 (10002)
• Boston, Massachusetts
28 Oct 09
you're so lucky for enjoying a rent-free house. what you can do now is save the amount of money as if you are renting even the 50% of "your supposed to be rental fee". It will be a lot and that will be your forced savings my friend!
@aseretdd (13729)
• Philippines
26 Oct 09
It is great that as early as now... you already have a retirement plan... i am already in my mid 30's and i don't even have one yet... but i am already thinking about it... like how i will save for my retirement... i don't have my own house or car yet... but i hope before i even retire... which i hope is early... i would be able to have all things set in place... especially the education of my daughter and future children...
@msfrancisco9369 (10002)
• Boston, Massachusetts
26 Oct 09
It's not yet too late my dear friend to consider thinking about your retirement plan. Planning is very important to set your goal. Once you're clear about it be focus and work hard in reaching your goal. You will not only have what you want but it will be more than enough for you as you age and for your family. Goodluck. You can do it. Just believe in yourself and start your planning NOW. Cheers!
@sweetyethot (1737)
• China
26 Oct 09
I plan to travel around the world with my soulmate after i retire.That needs a lot of money and also my children are all good enough to take care of their own lives.No specific plans yet.
@msfrancisco9369 (10002)
• Boston, Massachusetts
26 Oct 09
You can start saving now so that when the time comes that you feel like considering an early retirement you will be confident to do it because you have all the means to sustain your daily needs and that plan of travelling around the world with your soulmate.
@vandana7 (102698)
• India
26 Oct 09
Hi msfrancisco, there are wealth and income tax aspects of ur savings, if u r planning on that quantum of savings! Do consider an investment property as well, especially since the market is still down. In the long run, that will fare better than some of the government baonds. And a bit in medical insurances + stocks. I'd say 1/3rd of ur monthly surplus should leave for that. In principal, I think ur plan is good. Best of luck in achieving it.
@msfrancisco9369 (10002)
• Boston, Massachusetts
26 Oct 09
Thanks Vandana your recommendations are very valuable in making a sustainable retirement plan . I will bear that in mind...real estate, stocks and medical insurance. Cheers!
@triplejazzm51 (1373)
• Philippines
26 Oct 09
I dont have a very grand plan for retirement. At present my goal is to see my daughter finish her college. I plan to continue working until maybe im 65 years old (God willing). I want to have a bigger house and travel with my daughter. If i am still alive after 65, i will stay in the province, in my farm for the rest of my days.
@msfrancisco9369 (10002)
• Boston, Massachusetts
26 Oct 09
It's okay Tripplejazz. You are such a hardworking and loving mom and i believe in time you will reap all the fruits of your labor and be able to travel with your daughter--and maybe by that time, it will be a treat for you. You daughter will take charge of everything for you hehehehe.
Living in the farm until we finally retire from life-- is me and husband's ultimate plan (just in case we will be staying longer in the US)--for us to go back HOME and wait until our final breath. Goodluck and take good care always!
@msfrancisco9369 (10002)
• Boston, Massachusetts
25 Oct 09
Sad to hear that your husband lost his job but at least you have a savings sustain your family's budget for the meantime. Don't despair you can still make up for it. This is only temporary. Your husband will in time land a job again. Hold on friend!
Thanks and i am praying that my plan will materialize someday.
@doryvien (2284)
• United States
26 Oct 09
Hi msfrancisco,
When I think of retirement it makes me feel old, but I do also know that it is inevitable, and being so, we should be smart enough to prepare for that time. I perceive retirement as something very ideal - having enough funds to live comfortably while spending the last years of my life with my husband. I want to stay in the countryside where it's more peaceful and quiet. I hope I'll live long enough to see my grandkids, I'm sure I'm gonna be a cool grandmom
. Travelling - I want to do it now that the kids are still young, when they get older I'm sure they'll prefer to travel with friends than with their olds. And maybe when I'm on my retirement age I won't be strong enough travel, and my passion for traveling would have waned down by then.
. Travelling - I want to do it now that the kids are still young, when they get older I'm sure they'll prefer to travel with friends than with their olds. And maybe when I'm on my retirement age I won't be strong enough travel, and my passion for traveling would have waned down by then.@msfrancisco9369 (10002)
• Boston, Massachusetts
26 Oct 09
Hi dear friend DoryV,
You have to face the truth mama that soon we will be old and these things must be thought about this soon hehehehe. Well, thanks for sharing your initial retirement plan. I know you have the will power to make all these happen and deserve a comfortable and peaceful life in the near future.
You will be a cool grandmom.
@qpzmzjx (41)
• China
26 Oct 09
maybe it is too early for me to thinke about the retirement plan.
i just drew a picture.
1.for a walk after lunch with my love
2.have the weekend with my grandchildren
3.do excerse every morning
4.the most important is i had to have my own house.
the real estate market is out of my imagine
@msfrancisco9369 (10002)
• Boston, Massachusetts
26 Oct 09
What a lovely picture to look forward to. That is so sweet of you.
The earlier you plan for your retirement the better-- you have the luxury of time to work on it. So, try to think about it this early and you're guaranteed with a sustainable future for you and your family. Goodluck in making all the scenes in your pictures come true.
