Financial FYI: College Student Credit Card Debt, Spending Patterns of Pre-retirees and Retirees, and Gifting Money With Strings Attached
Financial FYI
According to the SEIU, college students represent the fastest-growing market for credit card debt. More than 75% of college students have at least one credit card. Source: Investment News
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According an online survey by Sun America, pre-and current retirees in their 50’s and 70’s predicted that they would spend up to $600,000 on average, on travel, a second home and luxury items, plus other leisure items during the course of their retirement. Source: Investment News.
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According to a MONEY survey, 85% of Americans say it’s not fair to attach a “string” to a gift of money. Source: MONEY magazine
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Financial FYI: IRA’s, loaning money to family and friends, and $1 million dollar homes
Financial FYI:
According to the Investment Company Institute, 46 million U.S. households own an Individual Retirement Account. Source: Investment News
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66% of Americans say they’ve had a problem involving money with a close friend or relative. Source: MONEY magazine
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Homes that cost $1 million or more represent just about 2% of all transactions, according to the National Association of Realtors. Source: Business Week Online
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NAKED RETIREMENT
Naked Retirement strips down the old traditional models of retirement planning and replaces the it with a more creative and intuitive one that helps people take control of their retirement planning, saving, and investing.
The book details the evolution of retirement and uses it to help baby boomers and retirees understand why they are behind in saving and what they can do about it.
"Retirement planning can no longer be one-dimensional, focused exclusively on merely providing information such as how pensions or a 401(k)’s work. It needs to extend beyond financial planning to include aspects of health and social issues that will impact future retirees," according to author, Robert Laura.
Billed as the ultimate defense against the scary, anxious, and stressful feelings people get on their first day of retirement when they have only a financial plan full of numbers and charts to guide them, Laura simplifies the mental and emotional aspects of retirement planning with thought-provoking questions about your definition and approach to retirement as well as important retirement conversations that foster strong relationships in retirement.
The book culminates into a one-page Naked Retirement plan that will help people as well as planners successfully estimate retirement preparedness and future success.
Book is available at NakedRetirement.com and is emailed in pdf format directly to participants.