Qualitative retirement
Retirement for workers is inevitable when they reach certain a age. They therefore need to plan effectively in order to have a successful life after retirement. In most cases, people retire without considering what will happen life after that. Qualitative retirement therefore means that planners have to come up with a retirement plan that fits their clients such that they serve the best interests of their employees. The articles provided address various qualitative considerations for effective retirement plan. The two articles address considerations such as the availability of involuntary or voluntary retirements, factors such as emotional or psychological and a retirement model called age-banded model.
One of the qualitative
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In order to have quality retirement, workers should ensure that they make the right expenses and have enough for their life after retirement. The article contrasts the age-banded model with the traditional way of planning for retirement (Basu, 2005). Various weaknesses that deterred quality retirement in the traditional approach are discussed. When age-banded model is applied, workers are able to make proper plans for their retirement life and decisions such as when or where to relocate can be made (Brandon, 2011). Marked benefits such as smaller requirements for saving for their retirements and a much greater flexibility that ensures life after retirement is well catered for are some of the advantages of the age-banded …show more content…
For instance, when employees are given an opportunity to choose the right date for their retirement, they are able to plan get ready for retirement. That means they are able to have sufficient savings and remain happy after retirement. This makes their retirement planning easier and favorable. Additionally, such workers are able to have sufficient psychological setting to allow them retire gracefully (Basu, 2005). What is more, a qualitative aspect like having the right economic and psychological factors set make planning easier. This is because planners are able to verify the basic requirements of their clients before they make a retirement plan. Planning ensures that life after work is catered for in all angles. Assessing the needs and factors affecting their clients allow them to make the right plans that will inculcate all the needs of their clients in life after retirement. Qualitative aspects discussed in the articles help planners make retirement plans that will make their clients happy and comfortable. This makes clients be able to take care of their needs after retirement and live
In general, countries experiencing high fertility and rapid population growth, have a “young” population structure and the important policy considerations are if there are enough schools and, sufficient jobs and housing to accommodate this population. Countries with “old” population structures face the problems of structuring and developing retirement and health systems to serve this older population and also they have a considerable reduction the number of the working force. The decline of the work force is one of the most dramatic economic tendencies of the past four decades in the United States. The individual’s decision of whether to stay in the workforce or to retire is based on the collaboration of a number of factors including the following: eligibility for Social Security benefits, availability of and benefits under an employer-financed pension plan, work
Post-Concussion-Syndrome (PCS) is a form of Chronic Traumatic Encephalopathy (CTE) and Traumatic Brain Injury (TBI). PCS is caused when a traumatic brain injury occurs do to an outside force (such as accidents) and the patient becomes concussed. Do to this, PCS is an environmental disease. PCS can also refer to the symptoms that a person may get directly after getting a concussion or initial trauma but many professionals’ use the term PCS to describe what happens to a person after they get a concussion, of either one crucial concussion or when a person get’s multiple concussion (either in rapid succession or concussions throughout a timeline) where the symptoms still impact them for longer than a few weeks.
There is diversity among all Canadian, hence there is differences among the aging population. Not all seniors are aging well and have the appropriate programs and services to meet their needs. Some seniors are victims of abuse and some are living in isolation and poverty. Some seniors suffer from chronic illness and other socio-economic factors limit the amount of money they can put away for retirement. Hence these middle and low income elderly retirees will have to depend mainly on the pension plan that is offered between the age of 60- 65. The age of 60-65 is regarded in Canada as the age of retirement. This paper will focus mainly on the disadvantaged older populations. The disadvantaged older populations are those who are currently
In today’s society, the work industry is comprised of numerous generations from baby boomers to millennia’s. Due to reasons ranging from increased cost of living to political policies, Americans are being forced to work longer in order to obtain the social security benefits they’ve contributed to during their careers. Each generation has certain generational influences such as war times and civil rights for the baby boomers and social media and the technology boom for the millennia’s. One constant that has not changed, however, is that the average American has to work for a living, and with the evolution of the US economy, they are having to work longer and are retiring later.
M.Q. said that she considered herself retired at 64. However, she began planning for her retirement almost thirty years prior, at the age of 38. As M.Q. was a registered nurse, she did not start a 401 K. Instead, she started a 401 B. One of M.Q.’s chief joys and complaints about retirement is all of her free time. She enjoys it because it lets her spend more time with her extended family, her husband, and her dogs. She dislikes it because she often finds herself
A general fear of having flexibility in a seniors retirement years is a concern when
After reading George Vaillant’s article Keys to a Healthy Retirement I immediately thought about my grandmother. My grandmother is currently 69 years old. She retired at 59 years old as a licensed practical nurse. After reading Keys to a Healthy Retirement I believe that my grandmother has accomplished a healthy retirement below is my rationale.
The age markers are slowly changing and so is the concept of retirement. The modern aged community is unwilling to declare themselves as retired. One of the respondents made a statement that he wishes to work as long as he could do. A self declared retirement will make one detached from activities thus speeding up the ageing process. An earlier retirement will most probably make the individual feel old soon and this emotional drift will have a dramatic influence on his physical as well as mental and emotional health as well.
Aging is described as a sequential, irreversible, progressive, and non-pathological process of maturation in an organism and that translates to a gradual decline in the ability to perform activities optimally. Aging is an individual process that can be a period of stress for individuals especially following their retirement (Hiller & Barrow, 2015). The current study sought to understand the process and experience of aging from the perspective of elderly individuals. In discussing matters of aging and retirement, many assume that women are always eager to retire, and adjust well, as compared to their male counterparts (Bauger & Bongaardt, 2016). Many people assume that since women are generally made as homemakers, they are willing and happy to retire while men, whose nature is to be the main source of family income, find it hard to be out of work (Moody & Sasser, 2014). Indeed, there exists very little literature that sheds some light on this area, particularly on the attitudes of each gender towards retirement and process of aging. Given the significance of retirement to this life stage, the study sought to understand the emotions and views of individuals regarding their retirement through the lenses of (1) Physical health and wellbeing, (2) Friends, Family, and Community, (3) Work and leisure, (4) Finances and lifestyles, and (5) Living
We all are currently aging. We live in an again paradox. But, it is what we choose to do with our time while we have it that counts the most. As a young adult, and before this class I was very unaware of the importance of planning your retirement as early as possible. There are many things that go into planning for a successful retirement. Such as, but not limited to: Where will I choose to live? What will I do to stay mentally active? Or even, when will I choose to retire. In this paper, I will go over a plethora of aspects for my personal plan for aging.
Qualitative information provides general information concerning a client's goals, lifestyle, health status, risk tolerance level, employment status, hobbies, attitudes, and fears. Knowing a client's specific goals, such as planning to move when retiring at age fifty-five, funding a child's college education and expenses, starting an expensive hobby just before retirement, or travelling extensively during retirement, is important to the success of any financial plan.
Planning for retirement should not be based on Social Security alone, but rather by saving portions of personal earned wages and putting finances into long-term investments. Depending on Social Security as the only income after retiring is an unsafe and undependable way to prepare for retirement. People who contribute to Social Security are mandatorily putting money into the Social Security Reserve; this money is used for older generations that will file for these benefits before the younger people working, in the early 21 century, ever receive a chance. Money controlled by other’s hands will never be a guarantee for a secure future, yet money saved by an individual to put toward personal goals will reward greatly. By taking the time to
Although mandatory retirement is not largely popular, it still has an effect on many older workers and how they plan for retirement. "Mandatory retirement involves less than 1 percent of the work force and so opens up only a small fraction of the total jobs", because
Mr. Dev Saluja is an IT expert who worked in a multinational IT firm at the upper-level managerial position. He is nearly 40 and tired of his daily schedule so the retirement idea strikes him. At first, he was hesitant about the whole retirement propaganda but then he met a financial planner of ICICI Prudent life insurance and all his hesitation just flew away. Hence, what was the magical calculation that the financial planner did that helped Dev to decide about the retirement finally just after five years at the age of 45.
As and investor, you are overwhelmed with advice in newspapers, magazines, and mailings discussing what to invest in for a successful retirement nest egg, when to start saving for retirement and who to invest with. There are millions of people who realize that an investment portfolio for retirement is necessary, but do they really understand the investment instruments and the amount they must invest for tomorrow? The subject of retirement is a fascinating area but it also could be a fuzzy subject without the correct amount of knowledge, understanding and professional guidance. The number one question of concern for individuals facing retirement issues is whether or not they