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