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Plan Retirement Early! By Max Ng 2007-02-25 If I want to gain financial freedom way before retirement age or latest at the age of retirement, I need to accumulate enough wealth to achieve the lifestyle that I want. This requires planning as gathered from the Rich Dad's series by Robert Kiyosaki. If I want to be cautious, I feel that I should have two plans.
The first plan is to plan for retirement. The second plan is to plan to retire way before the age of retirement. This is because in case the second plan fails, I still have the first plan to fall back to. In the worst scenario, I will gain financial freedom at the retirement age.
In order to implement the first plan, I need to embark on the journey to research on retirement planning. After studying and reading a lot on retirement planning, I realize that retirement planning should be done as early as possible in my life. Why?
Firstly, I can capitalize more on the compounding interest of investment return. If I invest early in my life, then my investment has more time to grow. This advantage is gone if I have only invested near my retirement age.
For example, let assume the rate of investment return is 5 percent per annum and my retirement age is 60 years old. If I invest at the age of 30 years old, then my investment has 30 years to grow at the compounding interest rate of 5 percent per annum. If I have invested at the age of 55 years old, then my investment has only 5 years to grow at the compounding interest rate of 5 percent per annum. Of course, I will gain more if I have invested at the age of 30 years old.
Secondly, I can afford to make mistakes in my investment and recover from my mistakes. When I learn to invest initially, I will definitely make mistakes here and there. Because I start to learn to invest at a younger age, I have more time to learn and recover from my mistakes. Learning form mistakes is the key to accumulate wealth based on my understanding of the Rich Dad's series by Robert Kiyosaki.
For example, if I have made a mistake in investment that result in a loss of $10,000 at the age of 30 years old, I still can earn back the money. But if I have made the same mistake at the age of 60 years, I may not be employable to earn back the lost amount.
Even if I decide to hire a financial planner to help me, it is still my responsibility to know enough about investment so that I do not hire the wrong guy. This knowledge cannot be gained through purely reading. Some kind of practical experience is required to understand more about investments to enable one to decide on the proposed solution given by the financial planner.
Thirdly, I can be
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Montgomery County names interim planning directorThe Montgomery County Planning Department has named Planning Department executive Rose Krasnow interim director, following the resignation last month of Director Rollin Stanley.
Krasnow, who has worked at the Planning Department since 2004, will start as interim director Monday.
Stanley resigned to take the planning director job in Calgary, Alberta, Canada's third largest city.
Montgomery County's planning board has begun a nationwide search for a permanent replacement and expects to name a new...<div class="feedflare">
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</div>Uberoffices to open in Arlington, with twist on modelIf you find it tough to keep track of the comings and goings of D.C.?s new batch of incubators, accelerators and co-working spaces, I don?t blame you. More and more founders are turning ideas into startups, and they have a wider array of options now for a cheap desk and Wi-Fi connection.
So how does one workspace distinguish itself from another? Uberoffices is hoping to stand out by adding a menu of affordable services. The project, spearheaded by GOP consultant and entrepreneur Raymond Rahbar,...<div class="feedflare">
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more aggressive in my investment. That is I can put my money into more risky investments. More risks usually mean better return on investment. But that may not be always true. If I can manage the risks well, I can get better return on risky investment. For example, I can invest in currency. That is provided that I know how to manage the high risks in currency investment. Even if I have all the necessary risk management in place, there is still a possibility that the investment still goes wrong due to unforeseen circumstances. In which case, I have time to recover from the loss. Then, I can invest in long-term investments. This is not possible if I invest near retirement age. At near retirement age, I should only be investing in assets that give me cash or near cash, as I will need the money to support my retirement lifestyle. In fact, most of my investments should be converted to the type that can give me regular income near my retirement age. For example, it maybe impractical for me to invest in a property and hoping that it will appreciate. A property may take quite a number of years to appreciate to a substantial amount. In other words, I should not be looking for investments that give capital appreciation. I should be focusing on investments that give me regular income such as annuity. Even though that it is good to plan for retirement early, it is important that I have addressed the more urgent needs first. I should have already planned and insured properly so that I will not face a financial disaster due any unexpected accidents or illness or any other events. Also, I should have already set aside an emergency fund equivalent to 3 to 6 months of monthly expenditure. In this way, I should be able to survive till my retirement age to see the fruits of my retirement plan. * DISCLAIMER * The author, publisher and distributors particularly disclaim any liability, loss, or risk taken by individuals who directly or indirectly act on the information contained herein. All readers must accept full responsibility for their use of this material. Article Source: http://www.upublish.info Tags: Articles Personal **ARTTECHNORATI** Free Articles on Personal and many other topics - Add this category to your RSS Reader
Another free Personal article for you
About the Author:
Max Ng
Max Ng helps people who desire success to learn from his mistakes and realizations by sharing his personal struggle for success at www.richdadsecrets4me.com. He is the author of "Your Greatest Gift! Why Waste It?" at www.yourgreatestgift.com Free Articles on Personal and many other topics
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Paoli Hospital to deliver a renovated maternity department in 2013
Paoli Hospital said Friday it plans to spend $11 million to expand and renovate its maternity department.
The project will involve the construction of 24 private patient rooms; 12 labor, delivery and recovery suites; four triage rooms; and a larger nursery and level-II neonatal intensive-care unit.
In addition, hospital officials said all existing patient rooms will be updated. The delivery rooms will including specially designed beds that allow mothers to adopt any position ? making the birthing...<div class="feedflare">
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</div>Devon Medical Products opens door to distribution in China
Devon Medical Products entered into an agreement Friday with PKUcare BeiYi Pharmaceutical Co. to distribute Devon?s medical devices and equipment in China.
Financial terms of the deal were not disclosed.
Under the agreement, Devon Medical Products of King of Prussia will also identify other U.S. medical device companies that manufacture products domestically and connect them with PKU to ?jump-start? distribution of those products in China.
?This strategic alliance with PKU BeiYi Pharmaceutical...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_philadelphia?a=H_0X5j-bneM:aAvuFe62i2I:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_philadelphia?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_philadelphia?a=H_0X5j-bneM:aAvuFe62i2I:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_philadelphia?i=H_0X5j-bneM:aAvuFe62i2I:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_philadelphia?a=H_0X5j-bneM:aAvuFe62i2I:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_philadelphia?i=H_0X5j-bneM:aAvuFe62i2I:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_philadelphia?a=H_0X5j-bneM:aAvuFe62i2I:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_philadelphia?d=qj6IDK7rITs" border="0"></img></a>
</div>Philly Beer Week media preview: Slideshow
<img src='http://assets.bizjournals.com/philadelphia/blog/peter-van-allen/1%20BEER%20WEEK%20LOGO*100.jpg?v=1'>It?s always seemed that one of the most ingenious ideas from Philly Beer Week was extending the ?week? to 10 days.
On Wednesday, Philly Beer Week 2012 Executive Director Don Russell hosted a media preview and beer garden at the Four Seasons Hotel in Philadelphia.
In its fifth year, Beer Week will span June 1-10 and include hundreds of events, including dinners, tours, pub crawls, tastings, meet-the-brewer nights and so on. (This year?s guide to Beer Week is 80 pages.)
PBW claims to be...<div class="feedflare">
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</div>Pa. Supreme Court Justice Orie Melvin charged, relieved of duties
Pennsylvania Supreme Court Justice Joan Orie Melvin has been ?relieved of any and all judicial and administrative responsibilities? after the Allegheny County District Attorney?s office charged her with nine criminal offenses, including four felonies, following a grand jury investigation into accusations she used her staff for campaign work.
Orie Melvin has been relieved of duties pending a further order from the state high court.
The charges in the complaint include three counts of theft...<div class="feedflare">
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Montgomery County names interim planning director
The Montgomery County Planning Department has named Planning Department executive Rose Krasnow interim director, following the resignation last month of Director Rollin Stanley.
Krasnow, who has worked at the Planning Department since 2004, will start as interim director Monday.
Stanley resigned to take the planning director job in Calgary, Alberta, Canada's third largest city.
Montgomery County's planning board has begun a nationwide search for a permanent replacement and expects to name a new...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=3wuhez6cFgM:ql8CWFXOwRY:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=3wuhez6cFgM:ql8CWFXOwRY:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=3wuhez6cFgM:ql8CWFXOwRY:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=3wuhez6cFgM:ql8CWFXOwRY:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=3wuhez6cFgM:ql8CWFXOwRY:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=3wuhez6cFgM:ql8CWFXOwRY:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=qj6IDK7rITs" border="0"></img></a>
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If you find it tough to keep track of the comings and goings of D.C.?s new batch of incubators, accelerators and co-working spaces, I don?t blame you. More and more founders are turning ideas into startups, and they have a wider array of options now for a cheap desk and Wi-Fi connection.
So how does one workspace distinguish itself from another? Uberoffices is hoping to stand out by adding a menu of affordable services. The project, spearheaded by GOP consultant and entrepreneur Raymond Rahbar,...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=54W2IGbcgAs:QNDZrzZjMJ4:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=54W2IGbcgAs:QNDZrzZjMJ4:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=54W2IGbcgAs:QNDZrzZjMJ4:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=54W2IGbcgAs:QNDZrzZjMJ4:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=54W2IGbcgAs:QNDZrzZjMJ4:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=54W2IGbcgAs:QNDZrzZjMJ4:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=qj6IDK7rITs" border="0"></img></a>
</div>Federal Contracts: Big Wins for May 17, 2012
<img src='http://assets.bizjournals.com/washington/blog/fedbiz_daily/051812-fedbizchart*100.gif?v=1'>The Bureau of Customers and Border Protection Service divvied out the most dollars to a D.C. area company Thursday, reporting a $9.34 million contract award to QinetiQ North America in McLean for computer programming services.
QinetQ has long supported CBP with services to support a technology solution for collecting, sharing, safeguarding and using immigration law enforcement information.
Source: Fedmine.us<div class="feedflare">
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setting the level and drawing appropriate means of financing a real estate development project or acquisition.
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