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PSY-358 – Adult Development and Aging
Topic 4 – Plan for Successful Retirement
Review online articles (e.g. Forbes, Bloomberg, AARP) about retirement age and savings
needed, as well as information from your textbook. You may also view other website such as
CNN Money and the social security website. Next, locate an online retirement calculator and
calculate how much you will need to save for retirement (“guestimate” based on your anticipated
career and pay scale). Here are a few options, but feel free to use a different one.
https://financialmentor.com/calculator/best-retirement-calculator
https://www.aarp.org/work/retirement-planning/retirement_calculator.html
https://www3.troweprice.com/ric/ricweb/public/ric.do
You may type directly into this worksheet or create a separate document. Please integrate at least
two outside sources. A minimum of three sources are required. Websites and online magazines
count, although you must include a reliable source such as your text, which has substantive
information about this topic. Prepare this assignment according to the guidelines found in the
APA Style Guide, located in the Student Success Center.
In 500-750 words, answer the following questions:
1. Discuss some key factors to consider when thinking about the type of career you want
(e.g., control over time, income, personality factors). Be sure to justify your response
with expert support.
2. Describe retirement, including:
a. What is retirement? What are the most appealing aspects about it for you?
b. What age would you like to retire and why?
c. How much will you need to save according to the retirement calculator?
d. What are your biggest concerns about retirement and longevity? Do you foresee
any challenges?
e. Describe a few steps you need to take to ensure you have an adequate amount
saved for retirement (e.g. investments, savings, budget).
f. Explain how you might structure your life post retirement, including how you will
maintain your identity apart from your career and how you plan to connect with
others.
g. Describe how you plan to maintain your physical activity and how you will
challenge your mind as you age. Be sure to connect your responses to the
academic literature.
3. Survey at least one retired person (or couple) and share how their responses line up with
the research findings. What advice of value did they provide you with?
References:

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