Review the Bloomberg homepage and social security website to access the online r

Question

Review the Bloomberg homepage and social security website to access the online retirement information and calculators.

In 500-750 words, answer the following questions.

Describe the career you feel will best suit you. Explain why.

Discuss the key factors to consider when thinking about the type of career you want (e.g., control over time, income, personality factors).

Describe retirement, including:

What is appealing about retirement?

What age would you like to retire and why?

What are your biggest concerns about retirement and longevity?

Describe the steps you need to take to ensure you have an adequate amount saved for retirement?

Explain how you will structure your life post retirement, including how you will maintain your identity apart from your career and how you plan to connect with others.

Describe how you plan to maintain your physical activity and how you will challenge your mind as you age?

Explanation / Answer

Q - Describe the career you feel will best suit you. Explain why.

A very common question is whether you are most productive and comfortable in a small or large company. Both have benefits, so you need to think about which environment best suits you and your work style. If you like small companies, you might say, “I want to work for a small company because you get exposed to more things faster.” However, if you like the greater resources and more formalized training of a large organization, one should communicate that when interviewing for a job. As per me I would like to work in corporate section and grow up the ladder.

Q - Discuss the key factors to consider when thinking about the type of career you want.

Depending on the culture of the organization and role you have, your experience could be wildly different. A “corporate job,” would be worthwhile to highlight the key benefits that a company like EMC can provide to your learning experience that a startup would find hard to match. Sustaining double-digit growth rates year after year in a profitable way at the scale of billions of dollars makes for very seductive learning experiences. Well-run large companies inherently teach you how to build a lasting business. This is a day in class you don’t want to miss if you aspire to be a leader someday.

Q - Describe retirement, including - What is appealing about retirement? What age would you like to retire and why?

Phased retirement is when you retain your current job with your current employer, but reduce or change the hours you spend at the job and, in some cases, your responsibilities. Working part-time or on a more flexible schedule at your current job is a great way to ease into retirement. You can benefit from increased leisure while keeping an income and in many cases the benefits (medical and other) from your job. Phased retirement offers huge benefits to the employee as well as the employer. Many employers will learn that they actually need baby boomers to continue working. If baby boomers retire at or before the age of 65, the United States may experience huge labor shortages. Not all employers offer phased retirement. If your employer does not, you might be able to help them design a program to meet your needs. Therefore I would like to retire by 65.

What are your biggest concerns about retirement and longevity?

- Fear of the Unexpected

- Insufficient Savings for Retirement

- Outliving My Retirement Savings

- Becoming a Financial Burden

- An Inability to Afford Healthcare

Q - Describe the steps you need to take to ensure you have an adequate amount saved for retirement?

- Fully fund an emergency account of three to six months of living expenses

- Boost your earning potential and benefits package now

- Coordinate your insurance needs with your employer’s benefits package to be sure you have adequate coverage

- Ensure you have a diversified investment portfolio so that you are investing for growth, and create tax diversification by allocating assets across taxable, tax-deferred and tax-free sources.

- Do not sacrifice your retirement to put your children through college. It is possible to take out loans for college but not for retirement.

Q - Explain how you will structure your life post retirement, including how you will maintain your identity apart from your career and how you plan to connect with others.

Many new retirees feel a sudden loss of identity, especially if they derived a sense of status or power from their former jobs. This is a different life, with different rules. It isn’t about money or power now – it’s about the meaningful things you can do with the rest of your life, as well as making use of the leisure time at your disposal. Each person has to develop routines to structure the day. Whether you are doing volunteer work, caring for grandkids, taking classes, playing golf, or reading romance novels, you need to have routines. I would have a few morning routines, probably because I am not a morning person and need all the help I can get. These include what a friend once called “opening up the house” (opening curtains and blinds, changing thermostat controls and the like), I also do something to my bed, force myself to eventually change clothing, and have my cold caffeine out on the patio in peace. Lastly, I always decide on dinner and take items out as necessary (my goal is no restaurant meals, and this requires planning for me not to be unhappy). I would force myself to do no “work related” activities after dinner as a rule. Since designing quilts is an avocation as well, this rule occasionally gets shot by the wayside. In general though, I keep my evenings free for reading, movie watching, going for walks, visiting and the like. I have also found that this helps with sleep issues.

Q - Describe how you plan to maintain your physical activity and how you will challenge your mind as you age?

One can prevent cognitive decline and reduce the risk of dementia with some basic good health habits:

- staying physically active

-getting enough sleep

-not smoking

-having good social connections

-limiting alcohol to one drink a day

-eating a balanced diet low in saturated and Trans fats.

Moderate-intensity aerobic activity means you're working hard enough to raise your heart rate and break a sweat. One way to tell if you're working at a moderate intensity is if you can still talk but you can't sing the words to a song. Examples of activities that require moderate effort for most people include:

- walking fast

-doing water aerobics

-ballroom and line dancing

-riding a bike on level ground or with a few hills

-playing doubles tennis

-pushing a lawn mower

-canoeing

Muscle-strengthening exercises are counted in repetitions and sets. A repetition is one complete movement of an activity, like lifting a weight or doing a sit-up. A set is a group of repetitions.

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