Archive for May, 2009

Earn a Supplemental Retirement Income

Friday, May 29th, 2009

Since social security is not what it used to be, sometimes nowadays even once you retire you still need to find a source of supplemental retirement income.  This is because all the dreams you had while still working, such as playing golf all day, traveling to exotic places, or just doing whatever you feel like all cost money. 
Unfortunately, due to inflation and the current economic slump, the funds that you thought could support you may no longer be enough.  For other people, earning a supplemental retirement income is a nice choice because after retirement they find they are bored with life and want to be active again, part-time.

If you find yourself faced with either too much spare time on your hands or not enough spare money in your wallet, you may consider getting a supplemental retirement income by looking for a part time job that is relatively easy and not very stressful.  You may also find that after an incredible health related expense occurs, you have no choice but to try to dig yourself out of medical debt by securing a supplemental retirement income.  Whichever the case, you may be surprised to learn that more and more people are going back to work after retiring, so you are not alone.

Many times a part time job is the perfect way to secure a supplemental retirement income because certain pensions that you receive from the company you retire from may become invalid if you work full time anywhere else.  Thus, part time is the only way that you can keep your pension and still gain some supplemental retirement income.  The other benefit is of course that you do not have to work all week for long hours, so you still can enjoy the perks of being semi-retired while picking up a small supplemental retirement income on the side.

Volunteering is an option for those who are not worried so much about a supplemental retirement income, but are more worried about how they are going to spend their time since they no longer have to worry about work.  You may find that even volunteering comes with some perks such as meeting new friends or getting to travel for free to new places if you join an organization such as the Red Cross.  You may be surprised to learn how many different volunteering opportunities you have to chose from once you get out there and start looking.

Ideas for Choosing the Right Retirement Gift for your Boss

Sunday, May 24th, 2009

While it sometimes may feel more like you are hosting a celebratory party than a retirement party when a difficult boss retires, like it or not, you still owe them a retirement gift as it is the polite and expected thing to do.  Of course, you may find it a lot harder to come up with a retirement gift idea for a bad boss versus a boss who you will miss deeply.  This is why, while trying to come up with a retirement gift idea you may want to think in lines of what would make a nice retirement gag gift so that you and your work buddies can have a nice laugh at your boss’ expense.

If you have a difficult boss that is known for being a bit hard on everyone daily, you may think of a retirement gift idea similar to an “anti-grumpiness pill.”  Yes, believe it or not this retirement gift gag really does exist, and it does not come in the form of Prozac!   (Although fake Prozac pills may also garnish a few laughs from your co-workers.  You can find a real anti grump pill bottle at your local gag shop, along with plenty of other items that may make the perfect present as a retirement gag gift given your line of business.

Usually, if you purchase this retirement gift idea, you will not only get a pill bottle filled with colorful pills, they also come with a prescription on the side that will have your co-workers bursting with laughter.  In fact, you may even see your boss crack a smile for once as they read the side of their retirement gag gift if they do have a sense of humour hidden inside their tough exterior for all of the past years you worked with them.

One of the nice thing about this type of retirement gift idea, or any retirement gift idea you come up with that is really a retirement gag gift, is that if they are not thrilled with their present, it does not matter since at the end of the farewell party they are no longer your boss!  If you really want to give a retirement gag gift that will aggregate them you can purchase a funny looking cane and adorn it with pink ribbons.  This of course is extremely tacky, which is what you should be aiming for with your retirement gag gift!

Making Use of a Retirement Income Calculator

Tuesday, May 12th, 2009

Most people pass the time of their working day, by dreaming of the days when they are retired.  It can be wonderful to dream of traveling, the easy life, or simply being able to sleep pass eight once you are retired.  However, if you do plan correctly, it will not be quite so easy to live out the retirement that you have been dreaming about for most of your work day.  This is one reason why you will want to start looking into using a retirement savings calculator tool now, so that you will be prepared when the time comes to actually retire.

Of course, before you can determine how much you will need to save with a retirement savings calculator, you need to be aware of the magic amount that you need in order to retire comfortably and the way you want.  This means that you have to determine two things, the budget that you are aiming to live off of once you retire, and how much you will receive in a pension and from social security.  This way, when you add in your calculations from the retirement savings calculator you will be more on track with an accurate figure.

Setting your budget is easy enough, as you need to simply evaluate how much you will need to spend which is based on the lifestyle you want once you are retired.  Keep in mind inflation when you enter this into the retirement savings calculator so that you can come up with a close number.  Now, before you get frightened, you will not need to come up with that total in full since you can rely on your pension of whatever retirement income you will receive once you reach age 65, the typical age people retire.

A great way to figure out how much income you will have to work with once you retire is by using the retirement income calculator.  Based on how long you have worked at a company, and how much your pension will pay out, the retirement income calculator will inform you of how much more you need to spend.  Remember that when you use a retirement savings calculator you should always try to over budget rather than meet the bare minimum, as once you spend the money during retirement it is too late to start saving again.  Therefore, be reasonable and prepared so that you can have the retirement of your dreams.