The Perfect Retirement Age, By Robert Jain

By Jason McDonald

Robert Jain, as well as other minds in finance, can tell you that retirement is a complex topic. Look at the discussion of age and, more importantly, how old someone should be when they retire. Most people will probably say that when someone reaches 65 years old or so, it's time to call it quits. Does this logic apply to everyone, though? Hopefully the following information will help you develop a better understanding of retirement in this respect.

It's been said that 65 is the magic number when it comes to retirement. One of the reasons why this logic persists, according to names along the lines of Bobby Jain, is that people collect Social Security when they reach this age. It's also worth noting that many people feel comfortable leaving the workforce at this time, having saved up ample money in the past. While 65 years old is a target that many aim for, many people set their sights in other directions.

For a number of people, retirement isn't an enticing goal to strive for. While this may come across as unbelievable, it's important to note that many people don't want to stop working. Instead of sitting around at home with little to do, they can continue to come to work and perform, albeit with financial security that they fall back on whenever needed. The idea of someone working after their 60s have passed isn't as far-fetched as it seems.

Another factor that plays into retirement is the bevy of personal responsibilities that someone has. Perhaps someone is saving for retirement with the mindset that they don't want children. Maybe they've simply been careful about spending money. These elements go a long way in terms of how much money someone can place into their retirement savings. Ergo, he or she will be likely to retire earlier in life, financial comfort and all.

With all this information at hand, it's important to reconsider what age is best for retirement. Long story short, it's dependent on one's goals in life. There are many people that want to retire as soon as possible. On the flipside, many others would prefer to continue working until they are simply incapable of doing so. Retirement can be achieved by anyone, provided they save early enough, but to say that everyone has the same goal in this regard would be a lie.

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4 Pointers Related To Your 401K Provided By Bob Jain

By Jason McDonald

If you don't know what a 401k is, it's essentially a savings plan that is used to help someone prepare for retirement. As money is regularly taken out of one's pay, it is then pooled into a separate account that can be used once retirement is reached. You might know the importance of saving, but did you know that there are other ways to get the most out of your 401k? Here are 4 tips, offered by Bob Jain, to help you do so.

According to authorities on finance like Robert Jain, you should contribute more to your 401k with every pay raise you receive. While you don't have to contribute your entire raise to each month's savings, the truth is that a little more can go a long way. This is especially true if you remember that a 401k has to be built over the course of several years. Don't let your raises go to waste; invest them wisely in this plan.

What if your employer is able to match your contribution? Believe it or not, many workplaces match what their employees put into their respective 401k plans, which means that those men and women earn more money toward said plans. This accumulation of "free money," for lack of a better term, ensures that these individuals retire sooner in life. If you feel like you're not receiving this benefit, ask your employer to learn more.

You should also resist dipping into the money in your 401k plan, as it can have many negative consequences. First, you will be penalized for taking money out, meaning that you'll have to make a payment on top of what you've withdrawn. Second, you will reduce progress made from a retirement saving standpoint. While it's understandable that someone may fall on hard financial times, taking money out of the 401k is an absolute last resort.

To wrap things up, and to help you truly maximize your 401k, review the plan in question at the end of each year. This will provide you with an opportunity to evaluate the progress you've made up until that point. It may also encourage you to make any financial changes that you see fit. If you feel like more money can be invested without hampering your day-to-day responsibilities, this should be considered. The more thorough your review is, the more you stand to gain from it.

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Bob Jain: 4 Ways For Retirees To Use Their Time

By Jason McDonald

For many people, retirement is the ultimate goal of working full-time. People want to make enough money so that, one day, they can leave the workforce and live their golden years to their fullest. Retirees might be under the impression that they can't contribute, though, which is far from the truth. As a matter of fact, here are 4 ways that retirees can use their time wisely, courtesy of financial minds including Bob Jain.

One of the best ways that retirees can spend their time is by learning new skills. Have you ever wanted to learn how to play guitar, for example, but never had the time to do so? Once you're out of the workforce, in theory, you have all the time in the world to become a musician. While there are other ways to spend retired life, this is one of the most common that the likes of Bobby Jain can recommend to others.

You may believe that retirement leads to a life with no work involved, but this isn't always the case. As a matter of fact, it's not far-fetched for a retired individual to take on part-time work. One of the reasons why this may be done is out of boredom. It could also help someone get out of the house from time to time. Whatever the case may be, the ability to work part-time, regardless of the workplace, can lead to a satisfying feeling of productiveness.

You may not believe this, but someone that's retired can go to school as well. College is one of the most rewarding experiences in the long term, which is especially true when you have the time to devote to your studies. No matter how old someone is, they are still many skills and experiences that they should be open to. This is where different colleges, universities, and places of learning come into the picture, meaning that going back to school is a definite possibility.

What if someone doesn't want to go to work or school, but still wants to make a difference in their area? There are many organizations that encourage people to get into volunteer work, which is a great opportunity for any retiree. By working together with other people, oftentimes from different backgrounds, a sense of unity is created. It also doesn't hurt that volunteers feel empowered, which makes sense given the fact that they can make a considerable difference.

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Bob Jain & The Do's And Don'ts Of Planning For Retirement

By Michael Robert Peterson

When it comes to the biggest financial endeavors imaginable, retirement planning ranks highly. However, it's not without its potential pitfalls, which others have succumbed to over the course of time. With that said, if you utilize the help that Bob Jain and other financial minds can offer, this process will be less painstaking on your end. Follow these do's and don'ts, and you'll be able to live a more comfortable life in your golden years.

DO stay committed. The first thing that you should know about retirement planning, according to Bob Jain, is that this is a long-term process. You're not going to be able to save up what you need for retirement in a short span of time. What this means is that you have to be committed to this process until the very end. This is just one of many ways that you can plan ahead for the future.

DON'T forget to start early. Another thing to know about retirement planning is that the best plans kick off early on. The reason for this is that it allows for more money to be saved, which might not be easily done if someone saves too late in life. Robert Jain will tell you that planning should be done as soon as someone acquires a full-time job. This way, it'll easier to save while still accounting for the other responsibilities you have.

DO focus on adjusting your spending. Are you someone who has a high phone bill or maybe a bit too much credit card debt? If you want to go about retirement planning, it might be time to adjust your spending. Even if you cannot get these rates down as much as you may like, every little bit helps when saving for the future. You might also find yourself learning more about finance, in general, by taking up this additional effort.

DON'T overlook possible plans from your employer. If you're struggling with retirement planning, you're not entirely without options. As a matter of fact, your employer might be able to offer such features as 401(k) plans. In theory, you'll be able to continually save up for the future, without a good amount of the stress that would have come with it. For those who are focused on the future, it would be wise to consult your employer on the matter.

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Would you like further financial advice? If so, please contact Robert Jain today.. Also published at Bob Jain & The Do's And Don'ts Of Planning For Retirement.