CC3152_L11_ch14+ - RETIREMENT PLANNING CC3152 Principles of...

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CC3152 Principles of Financial Planning ˟˘˖˧˨˥˘ʳ˄˄ RETIREMENT PLANNING
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2 Pitfalls in Retirement Planning Starting too late. Putting away too little. Investing too conservatively (especially when you are younger). (I) Overview of Retirement Planning [LG1,2]
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3 Retirement Planning At what age do you want to retire? Things that you want to do in retirement. Any special retirement goals such as buying a retirement home, taking an around-the- world trip, etc. 1. Set Your Goals :
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4 2. Estimate Your Needs : Determine household expenditures in retirement e.g. 70% of current amount . Estimate income e.g. Social Security, pension Consider the effects of inflation. Determine what is the difference between income and needs.
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