TAILIEUCHUNG - Lecture Personal financial planning – Chapter 12: Retirement planning

Lecture Personal financial planning – Chapter 12: Retirement planning. The goals of this chapter are: Recognize the importance of planning for retirement, evaluate retirement savings structures, weigh the advantages and disadvantages of pensions as compared with personal savings vehicles,. | Chapter 12 Retirement Planning Chapter Goals Recognize the importance of planning for retirement. Evaluate retirement savings structures. Weigh the advantages and disadvantages of pensions as compared with personal savings vehicles. Summarize the retirement planning process. Identify and describe the risks that can affect retirement planning. Contrast pre- and postretirement alternatives when shortfalls in capital needs become apparent. Overview The retirement planning process: Familiarize yourself with retirement issues. Develop goals. Become knowledgeable about retirement structures. Asses types of retirement assets and alternative structures. Analyze retirement risks. Decide on retirement investment policy. Calculate retirement needs. Finalize plan and implement. Review and update. Familiarize Yourself with Retirement Issues The concerns of retired people are assigned a relatively high priority by the working population and the government. Per capita spending by the government on the elderly substantially exceeds that for the rest of the population. The average age of retirement has declined from 67 in 1950 to 62 in 2000. Familiarize Yourself with Retirement Issues, cont. Source: Richard Johnson, “Why the ‘Average Age of Retirement’ is a Misleading Measure of Labor Supply,” Monthly Labor Review 124, (December 2001), 38-40. Familiarize Yourself with Retirement Issues, cont. The quality of life of the elderly has risen absolutely and probably relative to the average worker. The elderly are expected to rise from 15 percent of the population in 2000 to 20 percent in 2030. This greater concentration of retired people is projected to create a shortfall in Social Security pension resources. Medical costs are rising at a faster pace than overall inflation, which adversely affects the elderly on fixed cost pensions and government funding to assist in medical cost reimbursement. Develop Goals What do you want retirement to look like? Will your .

• Kế toán - Kiểm toán
• Personal financial planning
• Personal financial
• Lecture Personal financial planning
• Financial planning
• Retirement planning
• Retirement assets
• Behavioral financial planning
• Behavioral life cycle theory
• Characteristics of finance
• Finance tools
• Cash flow planning
• Flow planning
• Special circumstances planning
• Divorce planning
• Planning process
• Behavioral finance
• Educational planning
• Establish educational goal
• Tax planning
• Income taxation
• Estate planning
• Identify assets
• Financial statements analysis
• Financial statements
• Financial investments
• Expected rate of return
• Financial leverage
• Interest rates
• Time value of money
• Present value