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retirement Tag

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14 Jun How to calculate your CalPERS retirement benefits

Posted at 16:20h in Local / State Employees by David Yu, CFP®

How to Calculate your CalPERS retirement benefits   More than 1.6 million California public employees, retirees, and their families. Managing one of the largest public pension funds in the US for that many people seems daunting, doesn’t it? And if you’re a recipient trying to calculate your retirement benefits, you may feel a bit lost. But terms like “benefit factor” and “final compensation” don’t have to be intimidating. Let’s break down the benefits, the variables, and get you informed and ready for retirement. First off . . . when can you retire? In most cases, you can retire at age 50 with 5 years of service...

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27 May How to calculate your CalSTRS retirement benefits

Posted at 17:12h in Teachers / Professors by David Yu, CFP®

How to Calculate Your CalSTRS retirement benefits   If you ask a California public school teacher what CalSTRS is, they’ll likely respond that it has something to do with their retirement. But for many, that’s as much as they know. In fact, a lot of teachers that I work with have never calculated how much they’re expected to receive from their CalSTRS pension when they retire. Nor do they know when is a good age to retire to maximize their benefits. Why worry about CalSTRS now? As appealing as it may sound now to postpone the retirement discussion, it’s not necessarily in your best...

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14 Mar Retirement plans for small business owners

Posted at 06:52h in Small Business Owners by David Yu, CFP®

Retirement Plans for Small Business Owners   Retirement. Just one word can elicit everything from excitement for those bucket-list vacations to the stress of planning for those golden years now while you’re working and able. Perhaps you’re more worried now about your child’s education, or paying for that dream condo in Los Angeles, but the truth is that nowadays more people are living longer, and fewer people are saving for retirement. Did you know . . .? The average retirement age is 63. The average length of retirement is 18 years. The average savings of a 50-year-old is $42,797. Out of 100 people...

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