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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5 3. Establish Investment Program : ! Create systematic savings plan. ! Identify appropriate investment vehicles. ! Consider tax implications. ! Develop investment plan.
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6 (II) Pension Plans and Retirement Programs [LG4,5] ! Employer-sponsored retirement programs ! Self-directed retirement programs
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7 ! Participation requirements
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This note was uploaded on 03/17/2009 for the course AF 3152 taught by Professor Peggy during the Spring '09 term at Hong Kong Polytechnic University.

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CC3152_L11_ch14+ - RETIREMENT PLANNING CC3152 Principles of...

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