Why should you be concerned with retirement and estate?
Concerning retirement and estates, planning for your future should be an idea that you have early
in adulthood. In anticipation of retirement, the more time you have to save, the less, theoretically,
you will have to save for the future each year (Siegal & Yacht, 2009, p. 209). As stated in the
manual, although you may need two and a half times your current expenses to live comfortably,
your money will continue to earn compound interest to follow this lifestyle and future needs
(Siegal & Yacht, 2009, p. 207). When it comes to estate planning, it’s important because death is
possible at any time without warning, planning will help you manage your assets before such
death occurs.
Furthermore, estate planning is done for a variety of reasons, including ensuring that wealth is
not left to unforeseen beneficiaries. It also serves as a protection for young children to ensure
that their parents’ wealth is not taken away from them (“4 Reasons Estate Planning Is So
Important”, 2015). Estate planning is critically important because it reduces the tax burden and
prevents the courts from having to decide who inherits wealth or who shares it.
How can you estimate how much you need to save for retirement?
There are four factors that will use to help me estimate my retirement. The first is to estimate
pension expenses and the second is to estimate how much will come from guaranteed sources
(Siegal & Yacht 2009. The third will be to calculate the gap and the fourth will be to compare
inflation to life expectancy.
Reference:
Siegal, R. & Yacht, C. (2009). Personal Finance. Saylor Foundation. Licensed under Creative
Commons CC BY-NC-SA 3.0.
4 Reasons Estate Planning Is So Important. (2015, December 29). Retrieved
from https://www.investopedia.com/articles/wealth-management/122915/4-reasons-estate-
planning-so-important.asp
Concerning retirement and estates, planning for your future should be an idea that you have early
in adulthood. In anticipation of retirement, the more time you have to save, the less, theoretically,
you will have to save for the future each year (Siegal & Yacht, 2009, p. 209). As stated in the
manual, although you may need two and a half times your current expenses to live comfortably,
your money will continue to earn compound interest to follow this lifestyle and future needs
(Siegal & Yacht, 2009, p. 207). When it comes to estate planning, it’s important because death is
possible at any time without warning, planning will help you manage your assets before such
death occurs.
Furthermore, estate planning is done for a variety of reasons, including ensuring that wealth is
not left to unforeseen beneficiaries. It also serves as a protection for young children to ensure
that their parents’ wealth is not taken away from them (“4 Reasons Estate Planning Is So
Important”, 2015). Estate planning is critically important because it reduces the tax burden and
prevents the courts from having to decide who inherits wealth or who shares it.
How can you estimate how much you need to save for retirement?
There are four factors that will use to help me estimate my retirement. The first is to estimate
pension expenses and the second is to estimate how much will come from guaranteed sources
(Siegal & Yacht 2009. The third will be to calculate the gap and the fourth will be to compare
inflation to life expectancy.
Reference:
Siegal, R. & Yacht, C. (2009). Personal Finance. Saylor Foundation. Licensed under Creative
Commons CC BY-NC-SA 3.0.
4 Reasons Estate Planning Is So Important. (2015, December 29). Retrieved
from https://www.investopedia.com/articles/wealth-management/122915/4-reasons-estate-
planning-so-important.asp
