1. Single Parent Guide to
Retirement Planning
AUTHOR
LAKESIA WRIGHT
DECEMBER 2011
2. Your Life, Your Plan
Questions you must first ask your self
At what age will you retire?
Do you intend to work after retirement?
Are you currently saving for retirement?
When was the last time you reviewed your
retirement options available to you from work?
Are you a Solo Entrepreneur and don’t know where
to seek help.
3. When do I begin?
You are never too young to start your retirement
planning. However, you should understand that
when you reach the age that you stop working full
time, will you have sufficient income to sustain your
standard of living or daily living expenses until your
death?
3 promises are made to us.
The promise of life
The promise of Death
The promise of Sustainability of Life, until death.
4. Sustainability of life after Work
Retirement does not have to be a time in your life
where you resists giving up what you enjoyed while
working unless you did not prepare for retirement.
Life as a retiree can be enjoyable, however it depends
on your personal financial status. If you do not plan
for your retirement, then how will you sustain your
enjoyment of life when full time work has ended?
Retirement planning helps to ensure that you sustain
your quality of life when you retire.
5. Retirement Benefits
Royalties from a Franchise Business, or a book you have written.
Savings Accounts
Certificate of Deposits( CD’s) ,money market funds
Personal Savings
IRA’S ( individual retirement account)
Series EE Bonds of Certificates
Life Insurance proceeds due to death of a spouse or relative
Employer pension fund or retirement options
Real Property Assets
Family Endowments
Capital Venture Projects
Government Planning schemes
Investments
Stocks
Mutual Funds
Annuity
Dividends
6. Getting Your Priorities in Order
Step 1 Set clear goals
Step 2 Do your research and gain knowledge power
Step 3 Contact a local financial advisor or
Investments Consultant
There are usually no fees charged for advise or
consultation The Financial advisor or consultant is
normally trained or certified as a financial
professional, who holds the ability to offer advise to
help you prioritize and break down your goals into
financially manageable steps.
7. Locating the Expert
Consult your local life insurance Agent
Accountant
An Investment firm
You must be willing to disclose your financial status
together with your long term goals including Income
from all sources, expenses, debts, liabilities, and
personal assets. If you’re like most persons, who live
on one pay check or two, a financial professional will
be able to assists you with options that will assist
you to plan for your retirement.
8. Worth considering
It may be desirable, to consider reviewing your
insurance portfolio, which may include
Life, Health, Car, Home, Business Liability, and
Disability insurance.
Long Term Care Plan
All of the above plans are worth considering, you
must plan early.
