The 2013 Retirement Confidence Survey has been released by the Employee Benefit Research Institute. The findings expose severe problems among retirement savers.
One key item on my personal transformation agenda over the past 14 months has been mindfulness meditation. I developed my personal meditation practice somewhat by accident. In February 2012 I met a psychotherapist who also happened to be a serious Zen practitioner. That encounter caused to me to begin reading about Zen Buddhism which, as you may know, places meditation at the center of its practice.
Over the past year I have made a deliberate effort to increase and expand my cultural activities. I have read (or listened to) 25 books, all non-fiction, most of which came from the library. I have taken an online course (free from Yale) in the Philosophy of Death. I have seen more movies in the past 12 months than I saw in the previous ten years combined. More recently, I have been listening to more music and in the process decided to expand my music horizons and collection.
A recent study by a global asset management firm analyzed the “retirement security” for citizens of 150 different countries. The results were not good for us – the U.S. ranked 19th, right above the UK. Ten western European countries were ranked ahead of us, with Norway in the top spot. On one hand we should not be surprised. On the other hand, is this the outcome we want?
The retirement planning experts are relentless in their gloom and doom predictions for baby boomer retirements. Sadly, the data appear to back up these pessimistic predictions. Can anything be done?
I continue to progress on my weight loss plan. I lost another 9 pounds in February. (I hope these reports are more motivating than they are boring!)
The “Can I retire?” assessment (sometimes characterized as the “Will I be able to retire?” quiz) typically distills down to three basic parts. The first part is a principle: We want the freedom to spend “x amount” every year while I am retired. (We also want our spending to keep pace with inflation, of course.) The second part requires a careful look at (and accurate quantification) of your current retirement nest egg. Third, we have the payoff question: Can I safely generate at least an “x amount” of income from my retirement nest egg until I die?
Surveys conducted by various financial services providers continue to show a disconnect between retirement reality and U.S. baby boomers. In a recent such survey, use of home equity as retirement income tool came front and center.
Not trying to boast here – just trying to stay motivated and perhaps help kick start a reader who wants to improve their personal health platform for a better retirement. I’ve made some progress. Read more…
As we move through our gradual glide path to eventual retirement, my goal is to show a steady increase in our net worth. I’m not looking to hit home runs. I just want to be sure that when the day come, our nest egg is large enough to support our retirement spending plan.