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