Written in 2009; 1,876 words; 4 sources; APA; $ 60.95
Paper Summary:
This paper takes a look at what it takes to reach a healthy retirement plan, showing examples by the use of a case study. The author discusses the variables for the preparation of retirement such as health concerns, the sustainability of savings and the possibility of nursing home care, and uses a fictional elderly couple to illustrate how they can assess their financial competency. The paper also reviews the couple's idea of retirement and with these, a budget and alternative plans such investments and finding work during retirement are then suggested for the couple to be able to live a full retirement life.
From the Paper:
"The first thing that one must consider when advising this particular set of parents is their age. At 69 years of age, they are both already quite elderly, passed the retirement age by four years. Taking into consideration the recent collapse and bankruptcy of many banks and other financial institutions, whatever assets these people may have had in certain stocks and bonds may now be lost. If this is the case, than it is too late for them to begin reinvesting in new markets, so retirement and level of comfort in retirement will be compromised. If this couple has, indeed, lost money in the recent stock market crash, like they did in the 1990s, then they will most likely have to open a small business or do some other type of work in order to make ends meet in retirement."
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