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• What They Didn't Tell Ya About Money In High School Part 1
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• What They Didn't Tell Ya About Money In High School Part 5
• How to Stop The "N.F.L. Syndrome" From Stealing Your Retirement
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About Retirement Calculator, Inc.

CBS The Early Show

Watch the video clip

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• Analysis of the Economics of Early Social Security Withdrawal

• FREE Retirement Calculator recommended by Ray Martin on the CBS Early Show - Watch the video clip
• FREE Retirement EBook written by Bill Losey, America’s Retirement Strategist
• FREE Retirement Intelligence Information Services Newsletter
• FREE New Social Security Calculator
• FREE Consultation with a certified financial advisor in your area

Can I Generate Life Time Income

Can I Generate Lifetime Income?

There is a question that, at some point in time, we all seem to ask ourselves: can I generate lifetime income? Now, don't confuse that question with, "can I get a job that will ensure that I am able to make ends meet and to take care of myself and my family?" Don't confuse " can I generate lifetime income " with, "I wonder if there is some sort of product or service that I can offer that will keep people coming back and buying for years to come so that even when I'm not working I will be able to have money coming in."

"Can I generate lifetime income," is not a question about earning so much as it is a question about our ability to save for and to invest in our financial futures. " can I generate lifetime income " is a question that really should be translated as "will I be able to save money in the right accounts so that the interest will help my savings to grow over time and will I be able to choose the right stocks and mutual funds to invest in - will my investments pay off as time goes on?"

The answer to the question really, regardless of how you choose to phrase it is that yes, it is possible to save for and invest in your future. Yes, it is possible that, no matter where you are at when you're getting started, you can choose savings accounts that will allow your money to grow and to invest in companies and portfolios that will allow you to increase your savings multiple times. But in order to make it happen, you need to be willing to look at savings and investments accounts, to learn which advice you can trust and what you should probably ignore, and you need to know what your own goals are.

With the retirement calculator that you can download from this page, you will be able to get the information that you need about the savings and investment accounts that you currently have. By entering details about your accounts, you will be able to see how they have performed and how they will grow over time. By entering some specifics about the investments that you have made and the investments that you are considering, you will be able to track how they have done historically and how they are projected to perform in the future.

While you are entering your information into the retirement calculator, the contact information that you entered will be forwarded to a financial advisor in your area who will give you a call and follow up on any questions or concerns that you have about your ability to generate lifetime income. By talking about the accounts and investments that you currently have and looking at a wider variety of options, you can be sure that you're getting the advice that you need - and then it is just up to you to act on it.

Can you generate lifetime income? Absolutely, but you will definitely find that you have more control of the process if you start sooner rather than later.

Find a Qualified Financial Planner in Your Area

Do You Know the Answers to These Important Retirement Questions?

• Are you retired or thinking about retiring?
• Do you have enough money to comfortably live throughout your retirement years?
• Would you like FREE face to face advice or retirement consulting from a trusted local financial advisor?
• Are you looking for help to achieve your long-term financial goals?
• Would you like to learn more about Annuities, 401's, Life Insurance and Long Term Care?

Would you like to retire, but aren't sure you can?

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Everyone who has thought about retirement has asked themselves these and other questions. Now you can get ALL the answers in Retire in a Weekend! This short, simple, humorous, easy-to-understand book answers the 10 most popular questions and addresses the 5 biggest concerns people have about retiring! So stop asking yourself IF you can retire ... with Retire in a Weekend! you'll learn HOW to actually do it.

For a limited time, purchase Retire In a Weekend for $29.95 and receive a free download of Retirement Calculator Premium.

Analysis of the Economics of Early Social Security Withdrawal

Robert J. Phillips
Chief Retirement Consultant

Deciding whether or not to take the early withdrawal of social security at age 62 can be difficult. If you need this income at 62 to fund your retirement the decision is fairly straightforward. Take it early! On the other hand, if you have another source of revenue to fund your retirement your decision will be primarily based on lifestyle, health and investment preferences.

Several factors can affect your decision. First is your life expectancy. If you are in good health and have a family history of living beyond 90 then waiting for full benefits may be best. Two other factors impact this decision. First and most important is the value of money or your expected return from your investments. If you are using other investments instead of social security to fund your retirement you should use the rate of return of these investments as your value of money. There is another way to look at the value of money. If you do not require the social security money to live, you can invest the distributions for the future. The rate of return of this investment is your value of money. If your investments will make larger returns such as stocks this would favor taking the early withdrawal.

The last factor impacting your decision is inflation. Social security includes an annual adjustment based on inflation. You cannot control this variable but you should be aware of its impact. If future inflation is significant it will favor a later full distribution

FREE Social Security Calculator:

We developed a calculator to assist in analyzing the impact of taking early benefits at age 62 or waiting for full benefits at age 66 to 67 depending on the year you were born...If you were born in 1960 or later your full benefits will begin at age 67 and your reduction for early benefits at age 62 will be 30%. If you were born between 1946 and 1960 your full benefits begin as early as age 66. We have included a chart that summarizes information.

To use the calculator you need to input your year of birth. You also need to input a value of money up to 10% and a projected inflation adjustment. The calculator analyzes income generated over time from both the early and full benefit investments. It calculates the age at which full social security will catch up and breakeven with the early withdrawal. If you were born before 1960 your breakeven age will be impacted by the year you were born. An early breakeven age favors waiting for full benefits.

The social security calculator is not the final answer whether to take an early withdrawal but it does give you additional economic data to assist in that decision. Ultimately you must balance income, investments and lifestyle to optimize your enjoyment during your retirement years.