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Getting
Ready for Retirement IV: The Rise of Unretirement |
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"Retirement is fine for about a month," says David
Strege, CFP®, a senior
wealth coach and principal at financial planning firm Syverson
Strege & Company in West Des Moines, Iowa. "After
about a month, a lot of people start asking themselves, ‘Now
what am I supposed to do?’" explains Strege, who is also
CFP Board’s 2007 Chair-Elect. "Many people start to get
antsy and begin to feel that they are not being as productive as
they could be." If the prospect (or the reality!) of
retirement has you feeling antsy, then "unretirement"
— remaining active in your later years by continuing
education, starting a business, or rejoining the workforce
through either paid or volunteer employment — might be the
career path for you. Read
about unretirement in this final installment of a four-part
series on retirement from best-selling author James Geary.
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Survey:
How Much Work Will Fill Your Retirement?
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| Earlier this
summer, we asked people to share whether they felt they’d
adequately planned for retirement. While more than 36% of those
who responded were confident that their plans to retire are on
track, 7.6% believed they’ll need to delay their retirement
plans, and more than 16% admitted they’ll need to work longer.
Nearly 40% were not especially confident one way or the other.
Whether you’re confident your savings will last throughout
your retirement years, or you’re looking at an "unretirement"
that will require you to earn regular income, let us know how
long you expect (or want) your workweek to be after you reach
retirement age.
Take
Our Survey
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Financial
Alerts
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| Owning a home is
a big part of the American Dream, but with the news featuring
stories of bursting housing bubbles, sub-prime mortgage
meltdowns and growing foreclosure rates, getting to
homeownership may seem like a nightmare. The Federal Deposit
Insurance Corporation (FDIC) and National Association of
Insurance Commissioners (NAIC) are doing their part to help new
home-buyers get a good night’s sleep by providing information
to help people avoid some of the bogeymen lurking in the real
estate industry and understand important parts of the
home-buying process.
Deceptive Mortgage Offers
FDIC warns people shopping for mortgage loans to be aware of
bogus lending practices that claim to award money under a loan
program tied to the federal Community
Reinvestment Act (CRA)
and that purport to be supported by FDIC. FDIC does not endorse
or sponsor mortgage loan programs, and the CRA does not entitle
people to grants or loans. FDIC provides more information about
this deceptive practice, as well as useful information for to
help people find the right mortgage loan for them, at: www.fdic.gov/consumer/briefs#deceptive
Title Insurance: Protecting Your Home Investment Against
Unknown Title Defects
If you’re a first-time home buyer, you’ll want to read up
on title insurance before closing on your new home. If you take
out a loan to purchase your home, a lending institution will
most likely require you to buy title insurance for an amount
equal to the loan. Before purchasing a title insurance policy,
you should know what title insurance is, how it works and who
needs it, and why you should shop for it yourself versus having
a lender or real estate professional do it for you. Learn more
at: www.naic.org/consumer_alert_title_insurance
Read
more financial alerts.
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What
A Daily Money Manager Can Do For You
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| Sometimes,
managing your financial paperwork can seem like an overwhelming
task. At any given time, you can have bills to pay, a loan to
take out, a mortgage to renegotiate, and health insurance forms
to fill out. Keeping track of all this is difficult enough
during the best of times. But imagine you are elderly, maybe a
physical disability prevents you from getting to the bank, and
perhaps your eyesight and even your concentration are failing.
According to AARP,
the membership organization for individuals 50 years of age and
older, about a half million older people in the United States
need help with their financial affairs. A new field is evolving
to provide just this type of assistance: daily money managers. Read
about daily money managers and how their services may complement
the services delivered by legal, accounting and financial
planning professionals.
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CFP
Board's 2007 Financial Planning Clinic: Workshop
Presentations Now Available Online
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| CFP Board’s
2007 Financial Planning Clinic took place August 4, 2007 at the
Sheraton Boston Hotel, and hundreds of attendees made the most
of this opportunity to ask their financial questions to
CERTIFIED FINANCIAL PLANNER™ professionals for no charge. CFP
Board expects to bring similar events to different areas across
the country, so stay tuned to “It’s Your Turn” for
announcements of future event dates and locations. Those
attending the 2007 Financial Planning Clinic were able to
participate in workshops on debt management, estate planning,
and college funding and planning, and the presentations that
accompanied these workshops are now available on CFP Board’s
Web site. View
the presentations and read more about the 2007 Financial
Planning Clinic.
Read
more about these
workshops and register to attend CFP
Board’s Free Financial Planning Clinic
on August 4, 2007 from 10:00 a.m. to 2:00 p.m. at the Sheraton
Boston Hotel.
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About
This Newsletter
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You are receiving this e-mail because you subscribed to CFP
Board's eNewsletter. Periodically, CFP Board will e-mail you
"It's Your Turn," which includes information about
financial planning, financial planning tools and resources,
consumer alerts and much more. Suggestions and feedback are
welcome at mail@CFPBoard.org.
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