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      Financial Planner- Planning for Retirement

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      With thousands ofbaby boomers retiring every day, some thought needs to be put into retirementoptions.

      Retirement canhave more than one meaning these days. It can mean that you are no longerworking, you have applied for Social Security retirement benefits and you areno longer working, or it can mean that you have chosen to receive SocialSecurity while still working, either full or part-time.

      All of thesechoices are available to you. Your retirement decisions can have very realeffects on your ability to maintain a comfortable retirement.

      If you retire early, you may not haveenough income to enjoy the years ahead of you. Likewise,if you retire late, you'll have a larger income, but fewer years to enjoy it.Everyone needs to try to find the right balance, based on his or her owncircumstances.

      Everyone's situation is different.However, there are some things you should remember as you crunch the numbersfor your retirement. You may need your income to be sufficient for a long time,because people are living longer than ever before, and generally, women tend tolive longer than men. For example: According to the SocialSecurity.govwebsite,

      • The typical 65-year-old todaywill live to age 83;
      • One in four 65-year-olds willlive to age 90; and
      • One in ten 65-year-olds willlive to age 95.

      Now, one of the things you can do to help figure this out isto go to the Social Security website and check out some of their retirementplanner calculators. The website has an online calculator that can provideimmediate and accurate retirement benefit estimates to help you plan for yourretirement.

      The online Retirement Estimator is aconvenient, secure, and quick financial planning tool. It uses your ownearnings record information, thereby eliminating any need to manually key inyears of earnings information.

      The estimator also will let you create"what if" scenarios. You can, for example, change your "stop work" date orexpected future earnings to create and compare different retirement options.

      To use the Retirement Estimator, go totheir website at www.socialsecurity.gov/estimator.

      Once you decide on the best age for you to actually retire,remember to complete your application threemonths before the month in which you want retirement benefits tobegin.

      If you have questions or need help in doing the calculations,be sure to call your financial planner for their input and help.

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