| (ARA) - If you've delayed planning for retirement | | | | 3. Guffaw loudly because only rich people can afford |
| because it makes you feel a) old or b) financially inept, | | | | to do that |
| think again. With a little foresight, you could be out there | | | | I can phase into retirement if I |
| enjoying life like other people -- maybe even before | | | | 1. Plan ahead for big ticket items that might tempt me |
| you reach the so-called "retirement age." | | | | to draw on investments too soon |
| Like many people in the prime of life, it's not unusual to | | | | 2. Take a one month leave from my current job to |
| think of retirement as such a distant idea that you | | | | test the waters |
| avoid saving for it until next week, next year, next job. | | | | 3. Just up and quit |
| After all, who's got time to think about the "R" word? In | | | | The cost of inflation |
| reality, it's never too late, or too early, to start planning | | | | 1. Is expected to rise from 2 to 4 percent per year |
| for retirement. | | | | 2. Is always changing |
| Retirement used to be defined as what a person was | | | | 3. Will have no effect on retirement plans |
| no longer doing. More and more, however, retirement | | | | The nation's Social Security program |
| has come to mean what a person is can do. Choosing | | | | 1. Will eventually run out of money |
| a second career. Traveling to see the world. | | | | 2. Will cover only some of my retirement costs |
| Volunteering in the community. Taking on a new hobby. | | | | 3. Will always be there for me, just like it was for my |
| Taking care of grandchildren. | | | | parents |
| If Mondays find you heading for the highway to work, | | | | Disability income insurance is |
| but you'd rather be heading for the golf course to play, | | | | 1. A good idea, since there's a 42 percent chance I'll |
| it might be time to consider your financial future -- even | | | | become disabled between the ages of 30 and 50 |
| if you're among the three out of four Americans who | | | | 2. Something you should buy if you have a disability |
| hate financial planning. | | | | 3. Only for old people |
| "You don't need to be a financial wizard to start | | | | A fixed-rate annuity is |
| thinking about early retirement," says Randy Schuldt, | | | | 1. A contract with a life insurance company designed |
| vice president with IHateFinancialPlanning.com, a Web | | | | to provide for a regular stream of payments at a later |
| site devoted to the 75 percent of Americans who | | | | date |
| hate financial planning. "With some simple steps, you | | | | 2. Too complicated for me to worry about |
| can take control of your financial future before it starts | | | | 3. Considered to be a risky investment |
| controlling your dreams." | | | | The key to early retirement is |
| To help better understand what's involved in retirement | | | | 1. Having a retirement goal |
| planning, has developed a 10-minute quiz -- an early | | | | 2. Having a job with a good retirement plan |
| retirement calculator of sorts -- that will help determine | | | | 3. Winning the lottery |
| your state of readiness. If your score points to a | | | | SCORING: |
| lifetime of enduring the daily grind, a visit to or a | | | | Give yourself 3 points for every "A" answer; 2 points |
| meeting with a financial planner might help perk up your | | | | for every "B" answer; 1 point for every "C" answer. |
| financial future. | | | | 36 points: Kiss work goodbye? You may be headed |
| Early Retirement Readiness Calculator | | | | straight for the beach. We'd tell you to pack suntan |
| 1. I dream about my retirement | | | | lotion for when you leave, but then, you've probably |
| 2. All of the time | | | | already planned that, too. |
| 3. Only when work drives me nuts | | | | 25 to 35 or more points: So near, yet so far. While you |
| 4. None of the time | | | | may have a good understanding of what a retirement |
| I know exactly what I want to do when I retire | | | | plan needs to include, it's time to put your ideas into |
| 1. Yes -- in fact I've identified the date | | | | action. Check out for some easy to understand, |
| 2. Too many choices to decide | | | | non-intimidating ways to fill the gaps of your plan. |
| 3. No -- I'll be too old anyway | | | | 16 to 24 points: Minimum effort may not get you |
| IRA stands for | | | | where you want to go. Your plans could still use some |
| 1. Individual Retirement Account | | | | fleshing out. You may want to consider talking with a |
| 2. Irish Republican Army | | | | professional to help solidify your dreams. Keep your |
| 3. IRA -- you mean my cousin Ira? | | | | retirement goals in mind and get a financial plan that will |
| I regularly contribute to my 401(k) at work | | | | keep you headed in the right direction. |
| 1. At the maximum amount of money allowed | | | | 12 to 15 points: Early retirement, or any kind of |
| 2. As much as I can afford | | | | retirement, might not be in your future. Get thee to a |
| 3. Never | | | | financial professional! If the mere thought of it makes |
| I expect my health insurance costs to decrease as I | | | | you queasy, at least do this: mark your calendar for |
| get older | | | | Feb. 3-10. That's the official celebration of I Hate |
| 1. False | | | | Financial Planning Awareness Week, a week |
| 2. I'm not planning on getting older | | | | dedicated to helping people who hate financial planning |
| 3. True | | | | learn how to deal with money matters and how to |
| If I pay off my mortgage before I retire I will be able to | | | | manage and invest money. You'll find more information |
| 1. Pocket up to $250,000 in tax-free profit on the sale | | | | and ways to cope at It even has an on-line panic |
| of my home | | | | button that you can push to get out your financial |
| 2. Barely scrape by on my other bills | | | | frustrations. |