Retirement,
sooner or later, may bring in excitement or anxiety or both. If you have
planned your future properly, you may be excited about having the time to
relax and to realize your dreams. If you have not, it may turnout to be a
nightmare of anxiety, both financially and emotionally, to deal with the
changes that retirement brings. You may have mixed feelings about retirement.
If you think back to the times in your life when you made important changes -
when you got married, or changed jobs, or bought a house - didn't you have
mixed feelings? Retirement will be full of important changes that can be both
exciting and frightening at the same time.
So which one you prefer, a retirement full of excitement or anxiety?
How
can you feel more confident and less fearful about your retirement?
Focus
on your feelings about retirement by asking yourself the following questions:
As I look ahead to retirement, what do I feel excited about and why?
As I look ahead to retirement, what do I feel anxious about and why?
Are you finding it difficult to find out the answers on your own?
We are here to help you out to prepare yourself for a retirement full of excitement, free of cost. Help us to do so by filling out the form below and mail it to us at smartwmg@smartinternationalholdings.com.
PART I
PERSONAL
FAMILY BACKGROUND
Date Prepared: _________________
Personal
Information
Date
of Birth:
_____________________________________________
Passport/ Social Security
or
other Identity details: ________________________________________________
Place
of Birth:
________________________________________________
Spouse’s
Name:
___________________________________________________
Date
of Birth:
___________________________________________________
Passport/ Social Security
or
other Identity details: ___________________________________________________
Place
of Birth: ___________________________________________________
Dependents
Name:
_________________________________________________
Date
of Birth:
_________________________________________________________
Passport/ Social Security
or
other Identity details: _________________________________________________________
Place
of Birth:
_________________________________________________________
(2)
Name:
_________________________________________________________
Date
of Birth:
_________________________________________________________
Passport/ Social Security
or
other Identity details.: _________________________________________________________
Place
of Birth:
_________________________________________________________
(3)
Name:
_________________________________________________________
Date
of Birth: _________________________________________________________
Passport/ Social Security
or
other Identity details.: _________________________________________________________
Place
of Birth: _________________________________________________________
(4)
Name:
_________________________________________________________
Date
of Birth: _________________________________________________________
Passport/ Social Security
or
other Identity details.: _________________________________________________________
Place
of Birth: _________________________________________________________
(5)
Name:
_________________________________________________________
Date
of Birth: _________________________________________________________
Passport/ Social Security
or
other Identity details.: _________________________________________________________
Place
of Birth: _________________________________________________________
Think for a moment about those retired persons who are enjoying a satisfying retirement. Enter your answers below each question.
1. What is
their retirement lifestyle like? |
|
2. Do they seem
happy? Why? |
|
3. Why is their
retirement satisfying? |
|
4. What did
they do before retiring to get ready for retirement? |
|
5. How are they
different from people you know who seem to have an unsatisfying
retirement? |
|
Written goals or aims help make a plan clearer to understand and easier to do. People who write down their goals are likely to reach them. Goal statements should identify WHO will do WHAT and by WHEN.
Enter your answers to the following questions in the spaces provided then press the PRINT button:
In what areas
did you use the most time? |
|
In what areas
did you use the least time? |
|
Are there any
areas where you did not use much time on your calendar? |
|
How would your
calendar have looked if you had done this 30 years ago? 20 years ago? |
|
What do you
remember about the way you handled big changes in the use of your time
10, 20 or 30 years ago? |
|
You probably
have a big block of work indicated on your calendar. |
|
What does the
block of work hours do for, or to, your whole week? |
|
What’s going
to happen to that block when you retire? |
|
Summary:
Day |
Sleep |
Family |
Personal |
Work |
Community |
Monday |
|
|
|
|
|
Tuesday |
|
|
|
|
|
Wednesday |
|
|
|
|
|
Thursday |
|
|
|
|
|
Friday |
|
|
|
|
|
Saturday |
|
|
|
|
|
Sunday |
|
|
|
|
|
|
In making personal choices about work, community service, leisure time activities, or living arrangements, the quality of those choices and the degree of satisfaction gained is improved when individuals develop a clear indication of the values and virtues they feel are personally important.
To help you look at your own values and virtues, complete the following exercise.
In the boxes for "Activities" fill in the activities that you most enjoy. Be as specific as possible. For example do not write down "work." Specify a particular activity at work that you enjoy. Under each activity you have listed, check the "need(s)" met by that activity.
Enter Activities: |
|
|
|
|
Recognition |
|
|
|
|
Entertainment |
|
|
|
|
Creativity |
|
|
|
|
Belonging |
|
|
|
|
Adventure |
|
|
|
|
Learning |
|
|
|
|
Security |
|
|
|
|
Physical
Fitness |
|
|
|
|
Self-Growth |
|
|
|
|
Usefulness |
|
|
|
|
Accomplishment |
|
|
|
|
Income |
|
|
|
|
Comfort |
|
|
|
|
Communication |
|
|
|
|
Friendship |
|
|
|
|
Love |
|
|
|
|
Status |
|
|
|
|
Responsibility |
|
|
|
|
Work is often a source of satisfaction for personal needs. Therefore, as you consider retirement and future lifestyles, it is important to identify the personal needs that are satisfied through your work, and begin to explore other ways to satisfy them. If current activities outside of work cannot be a source of satisfaction, it is increasingly important to take steps before retirement to find activities that will meet those needs.
Examine your choices in the Personal Needs Inventory and find all needs that are satisfied by specific activities in your work.
List all those needs in the column labeled "My Need." In the second column titled "After Retirement" fill in another current activity that might satisfy the need you have listed in the first column.
|
In the spaces provided below, enter the names of the people who serve the functions indicated. Think of people who provide you with a single special resource. Be sure to consider people that you know in your work place, as well as family and friends.
|
Written goals or aims help make a plan clearer to understand and easier to do. People who write down their goals are likely to reach them. Goal statements should identify WHO will do WHAT and by WHEN. Read about goals in the Goal Setting and Action Planning Section of this online guide before you complete this worksheet.
In the spaces provided, enter a goal statement and action steps related to the general lifestyle issues just discussed.
GOAL STATEMENT:
|
|
Written goals or aims help make a plan clearer to understand and easier to do. People who write down their goals are likely to reach them. Goal statements should identify WHO will do WHAT and by WHEN. In the spaces provided, enter a goal statement and action steps related to the health and wellness issues just discussed.
|
Written goals or aims help make a plan clearer to understand and easier to do. People who write down their goals are likely to reach them. Goal statements should identify WHO will do WHAT and by WHEN. In the spaces provided, enter a goal statement and action steps related to the housing considerations just discussed.
|
Satisfaction is a very personal feeling. What may be satisfying to one person may be dissatisfying to someone else. When choosing a new job or career it is helpful to know what makes you feel satisfied. Go through this list of reasons for work satisfaction.
Rate these for the job you now hold. Enter three points in the boxes next to your most important concerns, two for your less important, and one point for those that matter the least to you. Then complete this list again, listing what would be most important to you in a job after retirement.
|
The Work Values Inventory can help you access your needs and find out what would be important to you in a retirement job. Complete this inventory based on what will be important to you in retirement, not what is important to you now. For example, you may enjoy having a lot of responsibility on the job now, and at the same time, you may be looking forward to having less responsibility once you retire.
Mark the work values in each column that are most important to you. If a value is not important mark the middle box. When looking for a paid job or volunteer work, choose the position that satisfies more of your work values.
|
Written goals or aims help make a plan clearer to understand and easier to do. People who write down their goals are likely to reach them. Goal statements should identify WHO will do WHAT and by WHEN. In the spaces provided, enter a goal statement and action steps related to the post-retirement employment considerations just discussed.
How much does it cost you to go to work?
Enter an estimate for each area in the spaces provided. Be sure to think of all the hidden costs associated with working!
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Enter an annual estimate for each area in the spaces provided.
1. Social Security
|
4. Earnings
|
||||||||||||||||||||||||||||||||
2.
Pensions and Employer Benefits
|
5. Assets which could be
liquidated
|
||||||||||||||||||||||||||||||||
3. Savings and
Investments
|
6. Possible deductions
from income
|
Written goals or aims help make a plan clearer to understand and easier to do. People who write down their goals are likely to reach them. Goal statements should identify WHO will do WHAT and by WHEN. In the spaces provided, enter a goal statement and action steps related to the financial planning issues just discussed
One big problem for survivors, when death has occurred, is simply finding all the property and valuable papers of the deceased. You can do your heirs and executor a real favor by filling out this form and giving copies to your spouse, other relatives who might help in settling your estate, any outside executor, and your lawyer. Update this information periodically:
NOTE: Please be sure to tell your beneficiary or beneficiaries to contact the Retirement System upon your death to determine what benefits may be due.
Written goals or aims help make a plan clearer to understand and easier to do. People who write down their goals are likely to reach them. Goal statements should identify WHO will do WHAT and by WHEN. In the spaces provided, enter a goal statement and action steps related to the legal planning issues just discussed.
RETIREMENT CHECKLIST
Primary Sources of Income
As you approach retirement it is useful to determine what you know, what you've done, and what you need to find out or to do.Read each of the questions below and check your answer, "YES" or "NO." For each "NO" answer you gave, write down a few words in the space provided to record notes or personal questions about this topic.
1.
|
Do I understand
my annual Retirement Benefit statement? |
|||
|
Yes |
No |
|
|
2.
|
Do I understand
the impact of accumulated sick and vacation leave on my retirement
benefit? |
|||
|
Yes |
No |
|
|
3.
|
Am I familiar
with how my benefit is figured and what effect that has on my choice
of retirement date? |
|||
|
Yes |
No |
|
|
4.
|
Do I understand
the various pension payments or options available to me? |
|||
|
Yes |
No |
|
|
5.
|
Am I aware of
how the option payment I choose will affect my survivor’s income? |
|||
|
Yes |
No |
|
|
6.
|
Is my spouse
and/or beneficiary familiar with my retirement options? |
|||
|
Yes |
No |
|
|
7.
|
Do I know when
to apply for pension benefits? |
|||
|
Yes |
No |
|
|
8.
|
Do I understand
my Social Security statement? |
|||
|
Yes |
No |
|
|
9.
|
Am I familiar
with how Social Security benefits are calculated? |
|||
|
Yes |
No |
|
|
10.
|
Am I aware of
how survivor benefits are handled under Social Security? |
|||
|
Yes |
No |
|
|
11.
|
Do I know what
I need to do to apply for Social Security? |
|||
|
Yes |
No |
|
|
12.
|
Do I know when
to apply for Social Security benefits? |
|||
|
Yes |
No |
|
Written goals or aims help make a plan clearer to understand and easier to do. People who write down their goals are likely to reach them. Goal statements should identify WHO will do WHAT and by WHEN. In the spaces provided, enter a goal statement and action steps related to the Social Security issues just discussed.
RETIREMENT CHECKLIST
Insurance Matters
As you approach retirement it is useful to determine what you know, what you've done, and what you need to find out or to do.
Read each of the questions below and check your answer, "YES" or "NO." For each "NO" answer you gave, write down a few words in the space provided to record notes or personal questions about this topic.
1.
|
Do I know how
much my health coverage will cost after retirement? |
|||
|
Yes |
No |
|
|
2.
|
Do I know what
to do to continue my health insurance coverage when I retire? |
|||
|
Yes |
No |
|
|
3.
|
Do I know what
effect my unused sick leave credit has on my health insurance costs? |
|||
|
Yes |
No |
|
|
4.
|
Do I know why I
must vest my health insurance? |
|||
|
Yes |
No |
|
|
5.
|
Have I tried to
estimate my sick leave credits? |
|||
|
Yes |
No |
|
|
PART II
RISK
PROFILE ASSESSMENT
Our risk profile assessment is based on your risk tolerance and attitude towards risk. We are presenting below some questions which are easy to understand and will help us evaluate your risk profile. Kindly fill up the questions and mail them to us electronically.
RISK ANALYSIS- 1
RISK ANALYSIS- 2
Investment
Style- 1
|
Many
people are uncertain about what investment options would be best for
them. Every investor is unique.
|
|
Financial
goals, current financial situations and investment experience all
contribute to one’s individual risk profile.
|
|
|
|
Outlined
below are the steps you can follow to determine your investor risk
profile. |
|
|
|
How
long before you expect to use the money saved in this plan?
|
|
(0)
Less than 5 years |
|
What
is your current age category? |
|
(0)
Over 60 |
|
I
would use my savings in this plan from time to time to purchase items
I require, or to help with unexpected expenses:
|
|
(0)
Yes |
|
Do
you have a spouse or partner who is saving for his/her retirement?
|
|
(0)
No |
|
Which
of the following best describes your employment situation?
|
|
(0)
Retired or soon-to-be retired |
|
Which
of the following would include your family’s net worth |
|
(5)
Under $50,000 |
|
What
is your annual household income?
|
|
(0)
Under $25,000 |
|
How
knowledgeable are you about investing and the various options
available?
|
|
(0)
I have no investment experience |
|
Which
of the following statements would you feel most correctly describes
your investment philosophy?
|
|
(0)
I cannot accept any loss of principal. |
|
I
worry about what is happening with my investments:
|
|
(0)
Often |
|
If
the stock market fell by 25% in one month, how would your react?
|
|
(0)
I would want to sell all of my investments |
Investment
Style-2
The goal of long-term
financial planning is to build an optimal portfolio that meets personal
expectations of risk and return. The following set of questions is designed to
provide an allocation mix that may be suitable for you.