Do You Foresee Retirement Self-Reliance?

Hi readers!
Its great to be back. For the past 3 months I've been busy setting up my online business and so I could not find the time to update this blog. Being a retiree myself, I find it 'NO FUN' to constantly monitor my spending so that I stay within my preset budget. With this new endeavor I'm on my way to my monthly recurring residual income..

Ok. So much for that..and our article today is on the differing view / approach to retirement planning by Generation Y as compared to the traditional view held by older people. So ENJOY!

Malaysia Raises Retirement Age To 58 Years

It’s now confirmed that the retirement age for the public sector employees in Malaysia is now 58 years. It was initially thought that the retirement age was to be raised to 60 from 56 previously.

As a direct result of better lifestyles and health care, Malaysians now live longer than ever and may live for about 20 years post retirement. Given their limited savings, most of them will need to find alternative jobs or do some part time work for at least a few more years after retirement to make up for their insufficient pensions and savings.

The increase in retirement age by another two years will thus help lessen the burden of these retirees as they are assured of another two years of gainful employment to add to their saving while at the same time help reduce their retirement years by the same amount.

Notwithstanding whether it is 58 or 60 years, the upward adjustment in retirement age is a natural progression for countries with lower retirement age as the case is in Malaysia - to be more in norm with the world’s practice. The standard retirement age for most countries in the world is 60 years.

18th Annual Retirement Confidence Survey

Hi readers! Its good to be back again after lying low for about three weeks. I was not able to update my blog as some pressing assignments kept me away from the internet.

Anyway, for this current blog I'm presenting to you the result of the 18th Annual Retirement Confidence Survey.... Hope you'll get something good from it.

MFS Retirement Survey Key Findings

Unexpected health costs and inflation are now top concerns for pre-retirees and retirees alike. And in line with these concerns, pre-retirees and even retirees are now expected to work longer and in most cases well into their retirement years.

This presents a new new shift on how people view their retirements. And the following article should interest those who are nearing retirement or planning to retire soon as it discusses the findings of the above survey. So enjoy.

Poll Shows One in Three Adults Do Not Have a Financial Plan for Retirement.

All throughout this blog and also in my main website on retirement, I've always stressed the importance of having a retirement plan before you retire, so that you'll be able to plan the kind of lifestyle you'd want to have when you eventually retire. Having a plan will make you better prepared or equipped for the task. Indeed, there's wisdom in the often quoted phrase: "When you fail to plan you are planning to fail." You can read my article on Financial Planning For Retirement here.

So it really touches me when I read the following report that one in three adults do not have a financial plan for retirement. You can read the whole report below...

Retiring "Boomers" Start Second Careers

Many baby boomers are retiring earlier than ever, but some want to try new jobs and give back to the community. In California many boomers are helping to reduce the teachers shortage in the state by returning to teach in schools there. You can watch the video here...

Reverse Mortgages On Rise

What do you do when you're about to retire but don't have a large enough income to fund your retirement?

For homeowners, one way out is to take a loan against their homes. Now, increasingly more Americans are turning to reverse mortgages to fund their retirement. Read the following article for more..

What's Your Retirement/Pension Plan?

Here's another very good advice on how to plan for your retirement. And its really important to realize from the start that only you can decide the kind of retirement lifestyle you're going to have - not your Financial Planner or your Retirement Planner.

Read the following report in its entirety and gain some insights on how to plan for your retirement.

Uncle Sam Matches Some 401(k) Deposits For Retirement

Here's good news for low-income taxpayers in the US of A, who save for their retirement. Now, Uncle Sam is extending a helping hand by giving kick back up to $1,000 to reward this group of people as incentives to save for the purpose.

Read the accompanying report to learn more..

How Could the Current Market Volatility Impact Baby Boomers' Retirement Portfolio?

If you are one of the millions of baby boomers set to retire this year the following PR Newswire report should interest you. The report points out to you where you can get answers to your questions. So keep on reading.

Retirement and Social Security Q&A 2

I mentioned in my first Retirement and Social Security Q&A that social security formed a major component in one's retirement planning. It was also reported that social security represented 39% of a typical retiree's retirement income.

And as we are still fresh into the New Year, any questions on New Year's resolution are certainly most appropriate and welcomed. In the following report, this question pertaining to New year's resolution was recently asked together with another social security question from a married couple. So readers, enjoy your reading!

Tips For a More Financially Fit 2008 and Your Retirement Nest Egg

I find the following financial tips very apt and relevant to my last posting on New Year Resolution and Retirement. Follow these tips and not only will your financial position improve, your retirement nest egg will also get a healthy boost as well.

I particularly like tips no. 1 & 2 whereby you are advised to save more and spend less. In my opinion these two are the pillars of your retirement planning and should be included in your retirement arsenal or tools. So readers, enjoy the following article and Happy New Year.

New Year Resolution and Retirement

The year 2008 is here now and we are one year nearer to our retirement date; that is if we are not retired already. And most, if not all of us have already equipped ourselves with the usual New Year resolutions. Though I don’t really subscribe much for New Year resolutions, there is no better time than the beginning of a fresh new year to set your intentions to create your life the way you truly want it to be – and that includes the retirement lifestyles that you want. Presumably, you already have reviewed your retirement goals and objectives and already set up your own retirement plan to make it happens.

As it is, 2008 promises to be quite an exciting year for our American colleagues. There is at least a couple of developments that just or in the process of taking place that will have a bearing on retirement for retirees. Firstly, 2008 marks the first year that the first baby boomer starts to retire. The retiring baby boomers, the first of whom should have started retiring on January first, 2008 will bring wide-ranging effects on society - from economics to politics (see my blog on Retirement and Baby Boomers).

The second changes concerning retirement that will have an impact on the American population is the new law that went into effect on Dec 24, 2007 that makes it easier for employers to automatically enroll their employees in 401(k) and other retirement plans. To me, that is good news. All employees are going to benefit more, as more savings can be pumped into non-designated savings, which normally yield better returns. Granted it is a little bit risky but potentially more beneficial for all contributors. The provision, part of the Pension Protection Act of 2006, basically will help many more workers and their families build a nest egg for a secure and comfortable retirement.

With the two mentioned developments taking place in 2008, it would be interesting to see how 2008 will hold for us - both retirees and those still working alike.