Management Associate of The Mass Mutual financial group, an esteemed member of the Million Dollar Round Table and an Eminent Keynote Speaker Franklin Allakpo, attended the event of New Jersey Ghanaian Association held in New Jersey on 2nd April 2016.
Speaker Franklin had the honor of addressing the conference on the topic ‘Retirement in US and Retirement at Home’. In his expose, Franklin argued that as you approach retirement, there are many things to think about. He says, you will need about 80 percent of your pre-retirement income to continue your current quality of life. The exact amount, of course, depends on your individual needs.
Some important factors to consider include:
• At what age do you plan to retire?
• Can you participate in an employer’s retirement savings plan, such as a 401(k) plan, or a traditional pension plan?
• Will your spouse or partner retire when you do?
• Where do you plan to live when you retire? Will you downsize, rent, or own you home?
• Do you expect to work part-time?
• Will you have the same medical insurance you had while working? Will your coverage change?
• Do you want to travel or pursue a new hobby that might be costly?
The Speaker further elaborated on other factors, he said, Retiring to the USA is widely considered a desirable option in itself.
US immigration laws can be inflexible in this respect. If a foreign national wishes to retire and live permanently in the United States, they need to find an alternative framework to complement their US immigration requirements.
Franklin concluded her remarks by sharing some ideas with the audience about Retirement at Home.