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    Preparing for Retirement Today: Dealing with the Financial and Physical Issues
    Preparing for Retirement Today: Dealing with the Financial and Physical Issues
    Preparing for Retirement Today: Dealing with the Financial and Physical Issues
    Ebook129 pages1 hour

    Preparing for Retirement Today: Dealing with the Financial and Physical Issues

    By Bruce H. Woodley

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    About this ebook

    Are you ready for retirement?

    Bruce Woodley will get you started on planning for a financially secure, happy and healthy retirement. By exploring how to handle our savings and investments in a practical and common sense manner, both when we are working and in retirement, he shows that it is possible to reach our retirement goals and provide a future which is both fulfilling and enjoyable.

    Contents include:
    *The Philosophy of Retirement: Are You Ready?
    *Preparing A Retirement Financial Plan
    *Investments: Property, Fixed Interest, Bonds, Shares and IPO’s, Managed Funds and Finance Companies
    *Direct Investing in: the Sharemarket, Unit Trusts, Superannuation Schemes, Annuities, Share Options and Option Trading
    *Investing In Property and Home Equity Loans
    *Family Trusts And Wills
    *Planning a Lifestyle and Organisations For Retirement
    *The Perils of Retirement Homes and Villages
    *Where to Live: Apartments, Town Houses, Retirement Homes, Rest Homes, Hospitals
    *Activities, Hobbies, Computers and Other Interests
    *Medical Care and the Family
    *Glossaries of Financial, Legal and Trust Terms
    *Appendix - Retirement Plan Outline

    The book also outlines how relationships can be improved, by helping men and women to understand that they often have different approaches to financial planning and managing money. It also identifies how to provide for family legal matters.

    Woodley shows how the new 60 is the old 40 and that we can take charge of our own future, rather than retiring from life. With a positive approach to living life to the full, we can look forward to living our dreams in our older years, with more life ahead of us. We can stay young at heart.

    About The Author:
    Bruce Woodley was born in Whanganui where his parents had a small farm at Maxwell, north of Whanganui. He was employed as Deputy Manager at the Mobil Oil (NZ) Ltd terminal at Mt. Maunganui and in central Auckland. He graduated with a Business Management Diploma from the Auckland University of Technology. From 1975 to 2000 he owned and operated a management consultancy company which administered and assisted business and trade associations.

    He also acted as mentor to companies on the North Shore for a number of years under the Business in the Community scheme sponsored by the City.

    Bruce’s previous book, Profile of Associations: – How do they create wealth? published in 2008, was widely accepted by universities, libraries and learning institutions throughout the country.

    LanguageEnglish
    PublisherPhilip Garside
    Release dateFeb 20, 2014
    ISBN9781927260227
    Preparing for Retirement Today: Dealing with the Financial and Physical Issues
    Author

    Bruce H. Woodley

    Bruce Woodley was born in Whanganui where his parents had a small farm at Maxwell, north of Whanganui. He was employed as Deputy Manager at the Mobil Oil (NZ) Ltd terminal at Mt. Maunganui and in central Auckland. He graduated with a Business Management Diploma from the Auckland University of Technology. From 1975 to 2000 he owned and operated a management consultancy company which administered and assisted business and trade associations.He also acted as mentor to companies on the North Shore for a number of years under the Business in the Community scheme sponsored by the City.Bruce’s previous book, Profile of Associations: – How do they create wealth? published in 2008, was widely accepted by universities, libraries and learning institutions throughout the country.

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      Book preview

      Preparing for Retirement Today - Bruce H. Woodley

      Preparing For Retirement Today

      Dealing with the Financial and Physical Issues

      By Bruce H. Woodley

      Copyright © 2014 Bruce H. Woodley

      ePub edition

      All rights reserved. This book or any portion thereof may not be reproduced or used in any manner whatsoever without the express written permission of the publisher except for the use of brief quotations in a book review.

      This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you are reading this book and did not purchase it, or it was not purchased for your use only, then please purchase your own copy. Thank you for respecting the hard work of this author.

      Cover Photo:

      By Bruce Woodley on Caribbean cruise

      ISBN 978-1-927260-22-7

      Philip Garside Publishing Ltd

      PO Box 17160

      Wellington 6147

      New Zealand

      books@pgpl.co.nz

      www.pgpl.co.nz

      Disclaimer

      This book is designed to provide information on planning for retirement only. This information is provided and sold with the knowledge that the publisher and author do not offer any legal or other professional advice. If you need such expertise, consult with the appropriate professional.

      This book does not contain all information available on the subject. This book has not been created to be specific to any individual’s or organisations’ situation or needs. Every effort has been made to make this book as accurate as possible. However, there may be typographical and or content errors. Therefore, this book should serve only as a general guide and not as the ultimate source of subject information. This book contains information that might be dated and is intended only to educate and entertain.

      The author and publisher shall have no liability or responsibility to any person or entity regarding any loss or damage incurred, or alleged to have incurred, directly or indirectly, by the information contained in this book.

      Table of Contents

      Title & Copyright

      Preface

      1 — The Philosophy of Retirement: Are You Ready?

      The New 60 is the Old 40

      Vive La Difference!

      2 — Preparing A Retirement Financial Plan

      Managing your spending

      Family Obligations

      3 — Investments: Property, Fixed Interest, Bonds, Shares and IPO’s

      Investment Goals

      Saving Goals

      Risk Tolerance

      Taxation

      PIE’s – Portfolio Investment Entities (as at December 2013)

      Debt – Get rid of it promptly

      Rule of 72

      Asset Classes

      4 — Managed Funds and Finance Companies

      Managed Funds

      Finance Companies

      5 — Direct Investing in: the Sharemarket, Unit Trusts, Superannuation Schemes, Annuities, Share Options and Option Trading

      Shares

      Unit Trusts

      Types of Funds

      Investment Trust Companies

      Kiwi Saver and Private Superannuation Schemes

      Annuities

      Share Options

      6 — Investing In Property and Home Equity Loans

      Rental Properties

      Listed and Syndicated Property Investments

      Home Equity Loans

      Home-reversion schemes

      7 — Family Trusts And Wills

      The benefits of wealth protection using a trust

      Other trustee responsibilities

      Proper Administration of Trusts

      Who would sue a trust?

      Gifting and gift duty

      Protection from Creditors

      Protection from Taxation and Rest Home Dues

      Taxation

      Professional Trustees and Guidance

      Updating a Will

      8 — Planning a Lifestyle and Organisations For Retirement

      Work and Employment

      Activities and hobbies

      Personal or Family Planning

      Travel

      Timeshare

      Organisations Which Can Help Older People

      9 — The Perils of Retirement Homes and Villages

      Retirement Villages

      Contract complexity

      Types of ownership

      Fees and charges

      10 — Where to Live: Apartments, Town Houses, Retirement Homes, Rest Homes, Hospitals

      Average House Prices

      Where to Live?

      Assistance for Residential Care

      Home Support, Rest Homes and Private Hospitals

      11 — Activities, Hobbies, Computers and Other Interests

      Activities and hobbies

      Computers

      Saving on Power and Gas Charges

      Getting Financial Advisory Help Online

      Achieving Your Financial Goals

      Online Shopping

      Savings for Pet Owners

      12 — Medical Care and the Family

      Health insurance

      Additional Medical and Financial Assistance

      Medical Alarms

      Dentists Affordability

      Funerals: Burial, Cremation or Donation

      13 — A Reflection On Retirement

      Australia — Our Observations

      Staying Healthy and Positive

      In Summary

      Glossary of Terms

      Financial Terms

      Legal and Trust Terms

      Appendix — Retirement Plan Outline

      About The Author

      Visit our Site, Join our Mailing List, Review this book

      Preface

      This book is designed to improve the future of all those who aim for a better lifestyle financially when they retire and for those who wish to live a long and fruitful life. As the population ages and with improvements to medical services, which we have better access to than in the past, we are living longer and have a larger proportion of people in the 50 plus age group. It is essential that we plan the future for a longer period in retirement if it is to be our golden years.

      We also aim to redefine the term retirement. No one should have to retire. Instead we should be able to explore a different future and consider how to live actively by staying in control, right until the end, by rearranging our lifestyle to suit this change in circumstances and future requirements.

      We also aim to show how relationships can be improved by helping men and women to understand how they often have different approaches to financial planning and managing money. By negotiating and communicating effectively, couples will be able to set combined long-term financial and economic goals which will help to ensure a long and harmonious future as they age together.

      It will also identify how to handle money, consider a retirement plan or statement, provide for family legal matters, (which are nearly always an issue for the elderly or those preparing for their old age), and how to set up a financial plan for their future.

      We will also cover related issues such as health care for the elderly, home computers and hobbies, sporting activities, holidays and life expectancy. By exploring how to handle our savings and investments in a practical and common sense manner, both when we are working and in retirement, we will show that it is possible to reach our retirement goals and provide a future which is both fulfilling and enjoyable, without becoming a burden on our family or the State.

      We intend to show how the new 60 is the old 40 and that we can take charge of our own future, rather than retiring from life. With a positive approach to living life to the full, we can look forward to living our dreams in our older years, with more life ahead of us. We can stay young at heart.

      1 — The Philosophy of Retirement: Are You Ready?

      The New 60 is the Old 40

      As we age we start preparing for retirement – and that is fine. But retirement is not a natural process and for some people retiring is a living nightmare. So the first question to ask is, Have I got good health? The second question should be, Can I afford to retire? The third and most important is, Why should I retire?

      Unlike most food products, we do not have a use by date stamped on our body so there is no need to retire at 65 or at any other age for that matter. If we are happy doing what we have done why should we stop now? The old saying of use it or lose it is very relevant to the retired and the less we do now, the less we will want to do in the future. The saying applies to everything we do in life.

      So the key to a long and happy life is to do what you enjoy doing and then keep on doing it for as long as physically and mentally possible. We will also show later that all humans are living longer, both male and female, though females do have the edge as they tend to live a bit longer for various reasons. So just because the start age for the pension and most superannuation schemes is 65 at the moment why stop working?

      We will also show later that if the job is stressing us out, there is no reason

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