By Mike Golio
A pragmatic retirement making plans source for engineers, scientists, and mathematicians
In 1995, Dr. Mike Golio, an electric engineer, turned heavily attracted to making plans for early retirement. In 2003, on the age of forty nine, he and his spouse accomplished their target of economic independence and retired. Engineering Your Retirement is an outgrowth of his study. no matter if retirement is coming near near or a long time off, this worthy guide's uncomplicated, analytical method of monetary independence solutions the serious inquiries to reaching profitable, cozy, and significant retirement.
Written particularly for pros within the engineering, technological know-how, and math fields, Engineering Your Retirement examines such vital questions as:
* how much cash will i must retire?
* How lengthy will it take for me to amass it?
* What kinds of post-retirement actions can be found to technical professionals?
Engineering Your Retirement discusses monetary independence from the original cultural view of the technical expert and lines many charts, graphs, analytical instruments, and equations to assist current the monetary nuts-and-bolts of retiring in a logical and analytical demeanour. It deals sensible, firsthand suggestion from an specialist on:
* successfully budgeting for investments
* making plans for healthiness insurance
* deciding on a retirement community
* increase a cash/bond ladder
* contemplating inflation
* Portfolio requirements
* funding allocations
* Paying off a mortgage
* and masses extra!
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Extra info for Engineering Your Retirement: Retirement Planning for Technology Professionals
4. , Brother Don’t Spare a Dime, Legion, August 2005. 5. , High Pay, High Anxiety, EE Times, Aug 22, 2005, pp. 1–34. 20 RETIRE ON YOUR SCHEDULE 6. htm. 7. S. Pensions Lost $1 Trillion in Last 3 Years, Reuters, February 28, 2003. 8. , How Soon Can I Retire? Will My Portfolio of Mutual Funds Give Me Enough to Retire? htm. 9. , Do We Have a Retirement Crisis in America? Research Dialogue, TIAA-CREF Institute, Issue 77, September 2003. 10. , and A. Tellegen, Happiness is a Stochastic Phenomenon, Psychological Science, vol.
It is sometimes possible to use initial sign-on offers for credit cards with 18 RETIRE ON YOUR SCHEDULE exceptionally low (even 0%) initial interest rates. You can purchase items at these low rates and put the purchase money in guaranteed savings instruments that pay more than the interest on the purchased items. Providing you remember to pay off the credit card prior to the low rate expiration date, this strategy is a low-risk way to increase your investment returns. CAUTION: read the fine print and do not fail to pay off the purchases entirely prior to the end of the initial rate period.
A disadvantage, however, is that it is possible to run out of money before you die. An alternative spending model is the fixed-percentage-of-portfolio model. Using this model, a retiree would examine his or her portfolio each year and withdraw a fixed percentage of that portfolio for living expenses. For example, a $1 million initial portfolio and a 5% withdrawal rate would result in a $50,000 withdrawal in the first year. In the second year, portfolio performance and the first year’s withdrawal would result in a portfolio that may be greater or less than $1 million.