A Retirement Job A Great Way To Stretch Your Retirement Savings
s a part of your The calculation is how much
retirement planning, have principle is needed to generate
you thought about a $12,000 per year ($1,000 per
retirement job? month). The formula is principle
divided by the income interest
Continued income from a post rate ($12,000/.05 = $240,000). I
retirement job can have a very think you will agree that is a
substantial positive impact on large amount necessary to
your retirement finances. generate $1,000 of income per
month.
Let’s do a fast calculation and
see the impact of an after However, a thousand dollars per
retirement job on your retirement month is not too large an amount
finances. Let’s calculate the to expect to make in a retirement
amount of investment that you job and just look at the impact
need to generate a monthly income that it has on preserving your
of $1,000 per month. retirement investment.
To do this we need to make a few Three retirement calculators on
assumptions. Assume the income the Net that include income from
generation rate of your work after retirement in the
investments is five percent (5%). calculations are the AARP
Let’s assume that we are not Calculator, the Employee Benefit
going to take any principle from Research Institute Calculator,
your investments to do this. This and the MSN Calculator. The MSN
will leave the principle intact calculator is especially easy to
for use later after you have use and is very visual so you can
stopped working in your see the results as you change the
retirement job. variables.
These calculators have a weakness our retirement, the major
since they ask for the amount of variables we have to consider are
annual income from a job after how much we budget to spend each
retirement, but they do not ask year, the amount we make from our
for the age when that income will retirement job, and how long we
stop. They assume the income will choose to work at that retirement
continue until death which may job.
not be accurate. We are all
living longer, but most of us A retirement calculator that will
will not be working at age 90. help you plan your after
retirement finances can be found
These three retirement at the Retirement Jobs Online
calculators are the more website
realistic calculators on the Net. (http://www.retirement-jobs-onlin
They help us calculate how much e.com). This calculator will help
money we will need to retire. you determine how long your
However, they do not help us retirement savings will last
manage our retirement funds after under various different
we retire. situations.
Once we retire, the variables As part of your retirement plan,
involved in calculating you can use the Internet and work
retirement finances are greatly from home on your own schedule to
reduced. Unless Aunt Bess leaves generate the income that will
you an unexpected inheritance in extend your retirement savings.
her will, you know what your Use the calculators mentioned
retirement savings are that have above to see the real impact
to last your lifetime. income from a retirement job can
make on your retirement finances.
Unless inflation runs away during
Thousands of people are using the investments and Social Security.
Internet to make a full time And you can have some fun in the
living. Why not use it for process.
retirement work and make some
money to boot? This will be a I wish you a great and productive
nice supplement to your retirement.
retirement income from your
About the Author:
John V. W. Howe is an entrepreneur, author, inventor, patent holder, husband, father, and grandfather. He has been involved in entrepreneurial activities for over 40 years. He founded http://www.boomer-ezine.com, http://www.boomer-entrepreneur.com and http://www.retirement-jobs-online.com to help Boomers
Read more articles by: John V. W. Howe
Article Source: www.iSnare.com |
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