Why Plan for Retirement?
Retirement planning is more important that ever, considering longer life spans, Long Term Care needs and potential Medicare cut backs. Employer Pension plans are great but many are being cut back L.A Times or converted to 401k rather than defined benefit. So, it’s more and more important to save on your own.
Check the links below email [email protected] or call us 310.519.1335 on various ways to increase your savings for retirement as Social Security is only considered the BASE for retirement benefits (estimator)
If you ever worked for a company or put money into a plan, but do not remember where it is, etc. try these ideas to locate your missing retirement funds.
Resources & Links
- Jackson National Retire on Purpose Resources
- Save for your Future.org
- Wade Pfau Retirement Blog
- Retire Stronger.com
- Nolo – IRA, 401k and other retirement plans
- AIG Retire Stronger
- $1 Million isn’t enough CNBC
- Save it like you mean it – Money Geek
- Smart Spending in Retirement
- ‘‘Securing a Strong Retirement Act of 2022’’
- Secure Act 19 page explanation Covisum
Defined Benefit Plans
Daily Breeze Article on San Diego’s unfunded liability
“America’s Finest City” is in a fine mess. Its unfunded pension liability — the gap between the value of its pension assets and its obligation to retirees — stood at $1.17 billion at the end of January. It faces anadditionalshortfall of $545 million for retiree medical benefits.The seaside city of 1.3 million people would need to double its pension contribution to $259 million next year — or about one-tenth of its annual budget — just to avoid falling further behind, said April Boling, who heads Mayor Dick Murphy’s Pension Reform Committee. That’s more than three times what it spends on parks and seven times what it gives libraries.
Later retirement age proposed
Boling, who is also Murphy’s campaign treasurer, isn’t shying away from the b-word. She says the city will need to sell $600 million in bonds over three years and raise the retirement age to 62 from 55, among other things. “If the city doesn’t follow our recommendations, we will be headed toward bankruptcy,” Boling said. “That is a fact.”
Will you have #enough for retirement?
Retirement #Calculators
- 360 Degrees of Financial Literacy
- AARP - Retirement
- American Institute of Certified Public Accountants - 401(k) plans
- American Institute of Certified Public Accountants - Retirement Planning Basics
- Blueprint Income - Build A Personal Pension Calculator
- Choose-to-Save - Ball Park E$timate
- Financial Calculators: Retirement Savings
- Motley Fool - How Will Retirement Effect My Expenses
- ssa.gov/estimator
- Estimate Your Life Expectancy
- Other Benefit Calculators
- When to Start Receiving Retirement Benefits #10147
- Benefits For Your Spouse
- Other Things To Consider
- Retirement Toolkit
- my Social Security account
- fairly geeky, there are good spreadsheets at www.analyze now/ but they are not easy
- Forbes 5 calculators
- Smart Asset.com Social Security Calculator
- Retirement Calculator
-
Business #Retirement Plans # 3998
- Business Owner Retirement Plans American National
- Side by Side Chart of various retirement plans
- Retirement Plans for Small Biz
- irs.gov/retirement-plans/types-of-retirement-plans
IRS Publication 560 - Profit Sharing Plans for Small Biz Publication # 4806
- Profit-Sharing Plans Defined Benefit Plans
- Money Purchase Plans
- Employee Stock Ownership Plans (ESOPs)
- Governmental Plans 457 Plans
- Help with Choosing a Retirement Plan
- What you should know about your Retirement Plan DOL.Gov
401 K Plans for Small Business – IRS # 4222
- Retirement Plans that don't have tax benefits - you can pick and choose who gets in!
- Lots of Benefits when you participate or set up an employee retirement plan Publication # 4118
- irs.gov/retirement-plans
- saving matters.dol.gov
- dol.gov/choosing-a-plan
- irs.gov/retirement-plans-for-small-entities-and-self-employed
- dol.gov/ask-a-question
- Small Business Retirement Savings Advisor DOL.gov
- American National Retirement Plan Administration Fee Schedule
- Get a Retirement Plan Proposal
- Department of Labor, Social Security & Medicare – Retirement Toolkit 9 pages
- BROKER ONLY iamsinc.com
- Our Web pages on:
Covered CA (& Medi Cal) - Calculate - #Countable Sources of MAGI Income 
Related Pages in Pension and Retirement
Social Security #Retirementa Benefits Publication # 10035
- Social Security Understanding the Benefits Publication # 10024 25 pages
- Self Employed & Social Security # 10022
- Retirement Check List # 10377
- Top Ten Facts about Social Security Center on Budget & Policy Priorities
- Get an estimate of your Retirement benefits!
- 1st set up an ONLINE Social Security Account -
- You also need it to get enrolled in Medicare Parts A & B
- Your benefits will be in your account - example
- Or use this estimator on Social Security's Website
- 1st set up an ONLINE Social Security Account -
- 2022 COLA Cost of Living to increase 5.9% NewsMax.com *
- possible 9.6% Social Security cost-of-living adjustment in 2023 CNBC.com *
- Provisions Affecting Cost-of-Living Adjustment SSA.gov
- Money Geek - Introduction
- VIDEOS
John Oliver on Retirement
https://www.iamsinc.com/