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SBI! Your Social Security Retirement Supplement!
Are YOU making retirement plans, or is the social security retirement your future?
Do you need to supplement your social security retirement incomes?
Then let me show you how Retirement can mean Freedom, Enjoyment and Extra Income!
Here's something to think about, "how much capital will you, a person with an average income needs to save to have enough income for a comfortable life in the later years?"
The answer is "it depends on you"
After-all, you are the best judge of what your standard of living can and should be.
Right?
Do you think that social security retirement will provide you with a sufficient income?
OECD has not suggested a definite set figure that we should be aiming for in order to ensure a reasonable lifestyle when you stop working.
BUT!
Retirement Planners assume that retirees need somewhere between 65 to 75% of their current income streams after retirement. The way they think is that a person could eliminate some work-related expenses (such as commuting and work clothes) to assist with your social security retirement costs.
The Organization for Economic Co-operation and Development (OECD) predicted an average life expectancy for men in OECD countries of 83.1 years and for women of 86.6 years.
This will mean that someone considering stopping paid work at age 60 has to save enough money to support themselves for at least 23 to 25 years.
With some careful planning and a large enough income stream you could invested enough savings to build a large enough pool of capital to achieve this.
Many people buy a second home in a warm climate somewhere to spend the colder season, or choose this time to travel.
How-ever with a lifestyle such as this, your financial needs can be as high as, or even higher than, your current streams of income.
Then there is the people with an average or lower income pay.
People that don't have a company pension plan or can't afford to pay for a pension plan.
That's when it becomes necessary to live on a more modest retirement income solution. More commonly known as your OAP.(old age pension)
Then of course, the unforseen, the biggest unknown cost factor is likely to be health care costs.
The alternatives.
1/ Make enough to cover your costs prier to, or have residual income streams already in effect prier to retirement. Plus your social security pensions.
2/ government pensions plus employee pension plan.
The OECD says that in most countries, earnings-related pension arrangements (employee pension plan) are designed to help older people maintain a reasonable standard of living. For people who have spent a full career on average earnings, the average gross replacement rate of earnings provided by a pension in OECD countries is 57 percent of pre-retirement earnings. But this also varies widely between countries.
3/ rely completely on the government pensions.
According to the OECD "Pensions at a Glance" report, the average minimum retirement benefits across OECD countries are equivalent to slightly less than 29 percent of average earnings.
SO, if 65 percent of pre-retirement income is considered sufficient for a comfortable retirement, then this pension alone will almost certainly not be enough.
OR, USE This Solution!
Supplementing your already retirement income streams with YOUR KNOWLEDGE!
By doing so You can significantly increase your retirement income.
Go ahead, see if this gentlemen will agree with me.
The bottom line is that you are the best judge of what your standard of living can and should be after you retire.
Social Security Retirement or Freedom, Enjoyment and Extra Income!
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