Tag: retirement

Online access boosted by the tablets

Smiling senior woman using digital tablet while lying at the parkRecent official statistics show a positive trend in the use of available online access by the over 65s. Over one third are using the internet regularly.The Office of National Statistics (ONS) says that for the first time, over half of those in the age range 65-74 now have access to the internet at home.

Although this is greatly encouraging,there is still a great number of people for whom the digital revolution has had little or no impact. It is reckoned that there are still 5 million people over the age of 65 who have never been online.

With this high number in mind, government and many charities are actively promoting the benefits and confidence that skills on the internet can bring to older people. Apart from the many ways to cut domestic bills and other spending by being online, many people find that they are less isolated by being more connected with family,friends and the world at large. Age UK, provides information about the value of these internet skills, together with details of suitably tailored courses.

Some further ONS stats are:

“While nine out of ten adults (90 per cent) aged 35-44 have the internet at home, this falls to just a quarter (26 per cent) of over 75s. And while virtually all (99 per cent) 25-34s own a mobile phone, only half (51 per cent) of over 75s own a mobile, with this age group more likely to have a landline (94 per cent) than 16-24s (67 per cent).” It is also interesting to note that when asked what media would be missed the most, people aged over 75 are also far more likely to miss their TVs the most (65 per cent), and then the radio (15 per cent).  Young adults aged 16-24,however, would miss their mobile phone the most(28 per cent), followed by the internet (26 per cent) and TV (23 per cent).”

The over 65s play catch-up

The ONS says there is evidence, however, that older age groups are getting to grips with technology.For the first time, over half (55 per cent) of those aged 65-74 have access to the internet at home while over three quarters (77 per cent) now have a mobile.

And the tablets?

Well, tablets like the iPad have grown dramatically in popularity being a handy mobile device of choice for would be silver surfers of the net.The tablet is seen as a driver in the surge of internet access by older people.

If you know of family or friends seeking or needing to join the digital revolution, why not help them look out for a course nearby on computers and the internet.Indeed,you may be interested in learning more of the wide range of the fascinating information you can ‘tap into’ on a daily basis. It is such a valuable facility that can enhance the quality of life. Another source of inspiration for you maybe silver surfers training. Please do let me know how you get on.Feedback may help me to find other resources that could be helpful. You can stay in touch by signing-up for my newsletter, which among other topical things will have some further information from time to time on joining the online community.

Who will care for the carers in our society beyond 2017?

Geriatrics and elderly careWho will care for the carers ?

According to the Institute for Public Policy Research (IPPR), more of us are worrying about how we will be cared for when we are older. A growing number of us have taken on the  responsibility for the care of parents, but the IPPR sees a growing ‘family care gap’ developing as the number of older people in need of care  exceeds the number of family members able to provide it. This gap is expected to be apparent for the first time in 2017

The huge challenge is to meet the care needs of an ageing baby boomer generation.This could increasingly continue to fall on adult children and their partners, with women being seen as the main carers and most likely to have to give-up work to take on the care responsibilities. The IPPR draws out a number of key issues which demand a rethink of how we look after each other in later life. There is the refocusing of the respective roles of state and individuals, also the widening of the narrow  focus on physical and health needs to include those needs necessary  to lead a decent life in older age.
Whose responsibility is it anyway?
The state though holding a pivotal role has never been the main provider, in the post-war period, of care and support for the elderly. It is family support that has carried most of the weight for this, at an estimated annual value of £55billion.
As budgets for spending on elderly care continue to be severely constrained, a recent NHS survey reveals that few of us believe government has the right social care policies. Post-war society has changed rapidly as the baby boomer generation age. More people now live alone, and family members often live far apart for both social and economic reasons. Looking forward,the IPPR in its report, is seeking to highlight solutions that place greater value on mutual  support provided by resources working within families,neighbourhoods and community networks.
So finally what can be done?
In making its recommendations the IPPR,believes the post-war model of social care needs a fundamental rethink, as it does not meet the wants and needs of the elderly, nor does it it prepare society to deal with an ageing  population.
A core recommendation is
  • the building and development of new neighbourhood networks  designed to help older people stay active and healthy, and support families find the right work care life balance.

This would work with other recommendations for

  • better care-coordination and single point contact
  • giving power to older people, families and carers to buy services directly using a community based ‘shared budget’
  • stronger employment rights enabling carers to better able combine work and care.
You can read the full IPPR report here…

Satisfaction with Life: the keys to a fulfilling retirement

This post keeps on the theme of retirement. It is well known that life expectancy among those currently retiring in their sixties means they could have some 25-30 years more ahead for them.But what to do with all that time?That is the challenge.

We are accustomed to seeing emphasis placed on good financial planning for retirement. Although having a good income behind you when you finally give-up the 40-hour working week knocks away a high hurdle when contemplating a long period of retirement, this of itself does not guarantee a fulfilled and positive retirement.So if you have looked forward to no longer having to answer to your boss, or the demands of every day business, how can you give yourself the chance to enjoy your new found freedom?How do you find satisfaction in your and real quality of life?

Recently, the University of Greenwich in England, undertook a survey to try and find the answer to the above and other questions. This study in conjunction with Laterlife Learning,looked at the responses to an e-survey conducted for the period October 2008 and January 2010. This study found that the keys to a fulfilling retirement were:

1. Having  aspirational reasons for retiring

2.Going on a retirement course

3.Having an active social life

4.Having someone to share retirement with

5.Having at least three of the ‘the Big Five’ personality traits

6. Money matters:Having a lack of financial resources,though, was not an impediment to satisfaction in retirement, and access to enjoyable experiences.

Some help tips in the conclusions from the survey report briefly are:

  • aim to retire on your own terms
  • find a goal for retirement that excites you
  • have activities that go beyond job work and non-work activities and breach the transition into retirement
  • gain a positive effect by attending a retirement preparation course
  • find an active social circle in retirement doing things you enjoy
  • look on money as only part of the retirement satisfaction jigsaw

You can read the full brief report providing the findings for the keys to a fulfilling retirement by the University of Greenwich

And,if you would like to also see what the pre- and post- retirement counseling course team Laterlife can offer

 

 

 

Retirement Jobs – Part-time or Contract?


For many retirees or for those about to retire, working after retirement is not just an option, it’s a mandatory survival requirement.  The trick is to find a way to enjoy retirement while continuing to generate income.  Many retirees are unsure of whether to take on a part-time retirement job or to start a retirement consulting job.  Both options have their pros and cons depending on what the individual is looking for and what are their specific goals and priorities.

 

Part-time jobs for seniors are the traditional route that many retirees take.  Part-time jobs offer workers the ability to have a steady income, have a set work schedule, and have enough time off to enjoy ongoing hobbies and activities.   Finding part-time employment for seniors is relatively easy as there is a growing trend to hire retirees for jobs that historically have been offered to the entry level work force.  These types of retirement jobs are usually found in the customer service sector of various industries.

 

But retiree jobs like this may not be for everyone.  Many retirees have spent 30+ years developing a set of advanced skills and experience.  Taking on a part-time job that has minimal requirements may not offer the challenge that is required to stay engaged and interested.  So a growing number of seniors are choosing to transition into a consulting job or a short term contract position.  Consulting jobs for retired workers are fast becoming the more popular option for workers who want to continue to utilize their years of knowledge and expertise.  Retirees considering a consulting job should ask themselves the following questions to determine if they have the right personality fit to become a consultant:  Are you able to work independently and be self-employed?  Are you comfortable working long hours and unconventional schedules? Do you have skills, knowledge and experience that companies will pay for?  Do you have the people skills to makes sales and manage clients?  Are you a risk taker?

 

Retirees need to weigh the pros and cons of both options to determine which one is the best path to reach their goals.   Once a decision is made, the good news is that there are more senior citizen job opportunities than ever before.  For more information about how to start a consulting business, landing consulting jobs and sourcing experienced consultants, go to www.retireandconsult.com.

Kellie Reamer has been an Executive Recruiter/Headhunter for 8 years. Her expertise is focused on sourcing, hiring and retaining employees as well as preparing, coaching and mentoring job seekers. The majority of her experience has been focused on senior level job opportunities for medium to large organizations.

 

The Right Retirement Planning Tools Help You Make Informed Retirement Decisions


Figuring out how much money you will need to carry you through your retirement years can seem like a complex undertaking. However, using the right retirement planning tools to plan for your retirement will make the task a lot simpler and complete. The right tools will help you see how much money you’ll need to put away to meet your projected retirement date, how much your retirement nest egg will be worth at retirement and beyond, and how much net income you will need to sustain the lifestyle you want through your retirement years, so that you can feel confident about the informed decisions you need to make.

The various retirement planning tools will take the guess work out of calculating the money you need for your retirement. Accuracy in planning your retirement needs is important for managing your money today. Not putting enough money aside for your retirement means not having enough money to provide that lifestyle you want during your retirement years; putting to much money aside will cause financial hardship and cause you to stay in the workforce more years than necessary.

Fortunately, there are plenty of internet how-to guides, retirement advice blogs and calculators available at your finger tips that you can use to help you get an accurate assessment of how much money you need for your retirement and can help you decide where to direct your retirement funds in the most profitable direction, so there will meet your retirement goals when its time for you to retire.

Online retirement calculators are some of the most handle retirement planning tools available. Most calculators are usually provided to you for free and without asking for any personal information about you. All you do is input the numbers and the calculators can help you project the cash flow you will need to maintain the lifestyle you want, when you need to start saving, how much you need to save and to save for retirement and how much money you need to retire with the plan of your dreams.

These online calculators will also provide important information about your 401K, IRA and Roth IRA plans, or other retirement savings plans.

There are a series of how-to guides that teach you how to plan a retirement savings plans portfolio to consider inflation and deflation of the market.

Other how-to guides such as how to avoid croaked or incompetent money managers and tips on how to know spot an honest financial planner from a fraudulent one are valuable tools for retirement planning tools that can make sure that your retirement portfolio is well funded when you reach your planned retirement date.

Some planning tools will allow you to do the calculations and save the information in a file so that you can go back to it from time to time and make any necessary adjustments to recalculate your projections. Many investment firms such as Charles Schwab, Fidelity, and Ameritrade provide online retirement planning tools to the general public. You don’t have to be a customer of the companies to use their planning tools.

There are many online retirement planning tools that require you to sign up as a member for free. But there are other tools that are only available to customers of the company offering the service.

With the right retirement planning tools you can make the right decisions today that will help you be happier and more financially secure when your retirement comes. It is important to remember to be flexible in your planning and make adjustments as circumstance in your life warrants.

Get the right tools to calculate how much money you need for retirement by visiting BestRetirementInvestmentPlan.com – a website that offers information on retirement planning including tips on setting retirement goals, do-it-yourself retirement planning software, and retirement planning tools to help you make the best of your financial planning for retirement.

 

Financial Fears in retirement

Article by Cathy Severson

Retirement income security is the number one concern of new retirees. Increased retirement cost, anxiety about retirees’ health contributes to the unease. When talking about retirement and money, there’s more than meets the eye.

Will I have enough money to last the rest of my life? The number one fear facing retirees is whether they are going to have enough money in retirement. Ironically, that fear exists regardless of one’s actual worth. In fact, people who report assets of million are more concerned about having enough money than people who have 0 thousand in assets. In fact, it is only when people report having in excess of 0 million do they relax about their financial future.

How could that be? The easy answer is Americans of all income levels spend more than they make. As your wealth increase so does your expectation of your minimal standard of living. What’s the point of having million in the bank, you ask, if you can’t enjoy it?

To answer the question of whether or not you will have enough money to last the rest of your life, you need to explore where the fear comes from. Is the fear base on an assessment of your financial situation or is it a psychological issue?

In order to understand the fear of not having enough money, you need to look at two things. The first is to assess your actual financial situation. The second is to explore the fear itself for psychological concerns.

The best way to minimize your fear about not having enough money to last the rest of your life is to spend less than you make. If you are retired and have income from investments, are you able to live only off the interest? (Financial advisors recommend not taking more than five percent of you portfolio every year. It’s assumed that the bad years and the good years will balance out, at that rate of withdrawal and you’ll have enough to last through your lifetime.) Do you need to tap into the principle on a regular basis? Ideally, you want to leave the principle alone and have it grow some every year.

If you’re going into do debt to pay for the lifestyle you want now, you have some legitimate concerns. If you aren’t willing or can’t cut back on your expenses, explore ways you can increase your income, by either working or starting a business. You may and may find that working fills time you would have otherwise used spending money.

Compile a budget so you know how much is coming in every month and how much is going out. The most important aspect of the budget is to explore your fixed and discretionary expenses. Your fixed expenses are what you spend every month on housing and any outstanding loans. Most everything else is discretionary.

Review your discretionary spending. Look at how much you eat out and unnecessary shopping. Many people, especially women, shop when they are bored. If your are bored and shop to occupy your time, explore other activities that would engage your time. You might volunteer to shop for shut-ins. (Spend their money, not yours.)

Many financial concerns are based on paying for healthcare and other old expenditures in the future. Based on your income, you may want to purchase additional medical and long term care insurance. It’s important to find a financial professional who can advise you on your current and projected financial situation and the best way to plan for your future as you age.

If you have done everything you can do to prepare for your future by seeking professional advice, understanding your financial situation. Cutting expenses and/or increasing your income, and you still have anxiety about money, you may want to explore it from a psychological perspective. Psychological money issues mean you use money to fix emotional needs. Examine your beliefs about money and possessions. Are you concerned about maintaining a certain lifestyle to impress friends or family? Do you believe you need to give your children money when they ask for it? Do you believe you need to be able to buy what you want when you want to have a sense of self-worth? Do you use money worries as a way to manipulate your significant other?

Another challenge facing retired adults is learning to live without earning money by working. Remember when you were child and asked your parents to buy you a toy. They responded with, “If you want the yo-yo, you’re going to have to earn the money to buy it.” Much of the identity of Americans comes from us being earners and providers. This is especially true for men. “If I’m no longer a provider, what value do I have?” It’s a different mindset to let your money work for you.

The transition to not working is a huge shift. Understanding the varied dynamics of your relationship with money will help determine the peace of mind you have in your later years.

(This article is not intended to provide financial advice, but only offer information to help you explore your economic situation.)

About the Author

Cathy Severson, MS helps you make the most of your retirement. Baby boomers understand this isn’t your parents’ retirement. Find out how to make the rest of your life the best of your life with the complimentary e-book 7 Ingredients for a Satisfying Retirement at http://tinyurl.com/8moymb

What Are Your Retirement Planning Variables?


Article by Paul Sutherland

Having a secure, fulfilling retirement is a primary goal for most of us. At some point in the future we will no longer receive a “paycheck” from an employer and will instead rely on the income from assets we have accumulated and saved, plus income benefits from defined benefit pensions, Social Security benefits, distributions from retirement savings plans such as 401(k)s, deferred compensation, sale of our business and other investments. For most people, the overriding and often primary directive of financial planning is simply “retirement planning.” However, planning for retirement is not a particularly easy process.The retirement planning process involves using a retirement planning calculator and creating a road map toward your retirement goal and developing a plan to achieve that goal. The plan generally considers post-retirement budgeting, savings, tax management, debt management, pre-retirement budgeting and a host of other inputs all geared toward ensuring a quality retirement. However, planning for retirement takes time and judgment, because it involves many unknown variables. Among the top variables that may determine when retirement is feasible are lifestyle/family goals, longevity, future income tax rates, portfolio returns, the effect of inflation on expenses and future investment returns.Let’s review the basics of these variables as they relate to your retirement plan.

Lifestyle Goals Would you like to travel? Own one home or two? What is your retirement vision? These questions and others like them are necessary to help create a budget for your specific retirement needs.

Longevity Attempting to gauge how long we’re going to live in retirement is a task that’s becoming more and more difficult. Medical advances have led to increased life spans and continue to increase the mortality age. This is best illustrated by the Social Security system. In its original design, participants in Social Security were expected to live only a few years after they have begun receiving benefits. People live longer now, and life spans are increasing each year. We believe it is wise to project a retirement plan that assumes you’ll live to age 100.

Future Tax Rates Since we can only spend our “aftertax” income, it is imperative that we consider what tax rates our retirement income will be subject to. However, as government bodies at all levels change with each election, so do virtually all tax laws, including property tax, sales tax, state income tax and the granddaddy of them all, the federal income tax. Taxes such as property and sales taxes should be adjusted to account for cost of living increases. One thing is certain – taxes will exist in retirement.

Investment Returns How much you can withdraw from your “nest egg” each year is perhaps the most critical variable to retirement projections. Like the other retirement variables, the annual return on your nest egg will not be linear. As we know, the investments most suited for providing long-term income security into retirement are going to fluctuate. Financial markets can have long periods of up and down investment return cycles. We need continual income and that is the key. That’s why we work toward constructing portfolios that can provide lifetime income security for our clients. Many retirees get caught up in “short-termism” and use CDs, shortterm bonds and fixed annuities as core holdings in their retirement portfolio. But this investment strategy is very risky. While inflation causes things to cost more, deflation can keep interest rates low for many years, requiring the need for retirees to invade their principal savings to meet their budget needs.At FIM Group, we balance the long-term asset volatility with the more stable fixed investments to construct our clients’ portfolios. Our goal is to allow clients to live on the income generated from their diversified portfolio with a goal of providing income that can increase over time. That way clients won’t need to invade principal. Simply put, we call it living on the eggs (investment returns), not the chicken (principal).

Inflation Loss of purchasing power caused by rising prices must be included in any retirement plan. It is safe to say that one dollar will buy less in the future. As you progress into retirement, you should factor in giving yourself a raise periodically to offset cost of living increases.

Family Constraints Will you need to provide for or care for your parents and/or children in retirement? If so, how much will you help them? In summary, we are realistic about retirement planning and take retirement seriously. While the future is unknown, we do know that life will go on, some businesses will grow and pay great dividends, interest rates will fluctuate, politicians will fiddle with taxes, and inflation and deflation will fight it out. One thing, however, is certain: we will retire someday.

About the Author

The author has great knowledge about financial planning. He has offered financial planning to many people as well. He has written many articles on financial planning.

 

 

Baby Boomer Health – Advice About Baby Boomers And Retirement


The topic of baby boomer health is popular these days as more and more people from this age group are becoming senior citizens and approaching retirement age.  This age group is well known for being in denial about aging and financial planning,

However, reality has begun to show it’s face.  Thus, there are many issues that directly affect the baby boomer generation that need to be considered, especially with today’s economy being the way it is.

According to media RKR, which publishes a book about “Baby Boomers Health And Retirement” website — http://mediaRKR.com/baby-boomer-health/ — pointed out;

“..It has been often said that the mindset of a typical baby boomers is to avoid planning for their demise as well as long term financial planning.  However, this mindset is quickly changing, as managing aging and end of life issues are becoming center stage…”

“…With the baby boomers rapidly approaching retirement, here are the top factors that are of major concern:

– Understanding The Process Of Aging
– Avoiding Alzheimer’s Disease
– A Plan For Staying Physically Fit
– Planning A Proper Diet
– Keeping The Heart Healthy
– Vitamin And Mineral Supplements For Anti-Aging
– Reducing Sugar Intake To Avoid Contracting Diabetes
– Improving Time Management Skills
– Stress Management Techniques
– Financial Management Strategies
– Starting A Second Career

…if you are, or someone you know is a baby boomer, then now is the time to get your hands on information that offers tips and advice about how to enjoy your golden years, in good physical and financial health.” …

Further information about Baby Boomer Health and Baby Boomers Retirement can be found by visiting:
http://mediaRKR.com/baby-boomer-health/

Media RKR is your source for a wide variety of informative books, reports and guides to help improve your lifestyle.

 

Do I Still Need Insurance in Retirement?


Article by ric dalberri

We all know that we could during our lifetime, become cash poor and insurance rich. So, now, during the ‘golden years’ of retirement,do I still need insurance in retirement? The answer is basically, yes and no. What I mean is, which type of insurance do I still needin retirement. Here are different types of insurances that you usually have in your personal (not mentioning if you are self employed for business insurances) portfolio:

1) Life

2) Health, dental, vision

3) Automobile, R.V., motorcycle, boat, etc.

4) Homeowners, flood

5) Disability

6) Long term care

7) Pet

8) Travel

So, you should now understand why I said yes and no to needing insurance. Let’s start and go through the list.

1) Life insurance. The purpose of life insurance is to fill the gap of financial loss, hardship, pay some debt and burial funds for those left behind. If the answer is no to the purpose listed here then, you don’t need life insurance. You may, however, want a charity to benefit or help a family member in need. The amount of life insurance depends upon the amount of money the individuals you leave behind will need not to experience a financial loss. You have to calculate your liabilities. Consult with an insurance specialist as to the various insurance policies available to you. If you now own an insurance policy, you may consider having the cash value pay your premiums or sell the policy (called viaticles) and set aside some for burial and blow the rest.

2) Health, dental, vision insurance. Do I still need insurance in retirement? For this, yes. If you leave your employee, there may be an option to continue your health insurance. Many municipalities and unions will allow this. You may consider to continue with Cobra for 18 months until you decide what you will do until you go for Medicare. Remember, even if you don’t want Medicare at 65 yrs of age, you still need to inform them that you decline because of other coverage. If you don’t and at a later date, apply for Medicare, you will be penalized and pay a higher premium. You may also need a supplement to this.

3) Do I still need insurance in retirement for auto, R.V., motorcycle, boat? Only you can decide this. For the most part, if you own any of these in this category, the answer is yes. You decide how much.

4) Homeowners insurance is a must. Some policies will cover you away from the home. Even if you don’t live in a flood zone, you may want to consider flood insurance these days. Just watch the news and weather channel.

5) Disability insurance. You probably have had this at your work, even if you did clerical duties and not being a laborer. You probably don’t need his in retirement, unless you are very active. Only you can decide.

6) Do I still need insurance in retirement? Long term care should be a definite. The earlier you start (age wise) the less expensive your premium will be. Check out the cost of medical care in and away from the home. It could be a very expensive premium. Can you afford not to have this?

7) Pet insurance is a personal choice. If you own a pet, you know how expensive vet bills can be. Can you afford this in retirement?

8) Travel insurance. When you decide to travel, you can take travel insurance for the trip you are considering. It can be covered for different reasons from cancellation, weather, medical. Some foreign countries will not accept our (U.S.) medical coverage. This probably is a yes when traveling.

Do I Still Need Insurance In Retirement?

About the Author

Ric Dalberri is a graduate of Columbia State University & has been involved in his own business (sold) employing over 100 people. As well as being a top producer as a Financial Specialist for over a decade with one of the largest financial institutions in the U.S., Ric has many years experience in sales and management. Ric was also a mentor in the financial arena as well as a volunteer teacher for Junior Achievement.

 

 

Best Retirement Planning Websites


Article by liame haley

Retirement is inevitable in any field on endeavor one is engaged in. No one continues to work in a company or organization till age 80 or more. There’s always a time to retire from active service. Well, retiring from service is one thing, but maintaining your life during such a period is another ball game altogether. One needs proper retirement planning in order to keep body and soul together during the retirement period.

By way of definition, retirement planning refers to various strategies put in place to ensure a stress-free enjoyment season during the period of retirement. In the financial context, retirement planning is all about allocation of funds for your pleasurable retirement season. You have to set aside a particular percentage of your regular income while you’re still in active service. The money you save at that time will then serve you when you retire.

Oftentimes, many people fail to plain their retirement as it should be. Such people end up becoming great burdens to their families when they finally retire from active service. In order to help matters, there are many retirement planning agencies that run their websites online. They are available to assist you plan your retirement before it dawns on you.

There are so many aspects to consider when planning your retirement. Oftentimes, you may not be able to plan those aspects well. You may not even remember to do something about that. This is the reason why various agencies have been established to assist those who desire to enjoy life during retirement season.

One of the aspects usually considered in retirement planning is the location and building where you’ll stay for the season. One weighing retirement must consider the best retirement cities. Such cities are nice locations to stay if you truly want to enjoy life to the full. Oftentimes, it’s very difficult to locate pieces of information about the retirement cities. However, when you go on a well-designed retirement planning website, you’re sure to locate all the various pieces of information you need.

Retirement websites abound online today. You can find a list of some of the top ones at http://www.over50web.net/finance/retirement-finance/some-top-retirement-planning-websites They are vital portals you need to visit in order to learn everything you need about your retirement. When you succeed in locating a good site that can help, you’ll discover the right way to save for your future retirement. You’ll also discover how best to invest some cash in various projects in order to safeguard your future.

Simply put, you’re sure of a better retirement season when you succeed in locating a good retirement planning website that can furnish you with the best of information. Your retirement season is sure to be a glorious and enjoyable period when you take time to plan it well. Why not go online today to gather more pieces of information?

About the Author

Dave operates a blog devoted to tracking the best retirement cities free ebooks.

 

 

Take Action Now to Protect Your Health in Retirement – Six Action Items For Retirees


Article by Burton Widener

There is probably nothing more important to the enjoyment of the retired lifestyle than good health. Poor health limits your retirement options dramatically. It may restrict where you can live. Your willingness and ability to travel are both negatively affected by poor health. It’s hard to enjoy seeing new places if you can’t get around, or are tied to medical support facilities or special medical devices.

Assuming you are currently enjoying reasonably good health, take action to maintain your health now.

Here are a six tips for maintaining your health:

Select a doctor who has experience in treating older adults if you can. They are much more likely to understand the aging process. It takes some experience to determine if your symptoms are just part of the natural aging process, or signify something more. Get regular checkups. Most experts recommend twice a year physicals for anyone over 65. Follow your doctor’s advice. Why spend the time and effort to visit a doctor if you are not going to listen to him/her? If you don’t like the advice, get a second opinion. Find a way to insure you take any prescribed drugs in accordance with the required regime. If you find you are having difficulty remembering the correct times or dosages, find some kind of a routine to help you remember. Don’t be proud, after the age of 60 or so we all find our memories getting less and less reliable. Stay physically active. Most experts recommend at least 20-30 minutes of exercise three or four times a week as a minimum. The exercise does not need to be all that vigorous. Even walking for 30 minutes every other day can really improve your overall conditioning. Important; you should always consult your doctor before beginning any new exercise program. Don’t delay unpleasant or costly tests or procedures. Again, if you question the need for a particular test or procedure get a second opinion. Nobody likes six foot tubes being pushed into places where the sun never shines, but it may save your life some day, so grin and bear it (no pun intended). Both you and your spouse need to be realistic when looking ahead. If either of you have a chronic medical condition that is likely to result in long term health deterioration, plan for it now. Don’t put yourselves in a position that does not allow you to meet evolving health issues.Pick your retirement location carefully. Often it is prudent to be located near a medium or large metropolitan center. This will usually give you more options in terms of medical specialists or medical facilities. Your health may also determine the type of living accommodations you will select. For instance, restricted mobility may mean you are limited to single floor residences. The need for specialized care may dictate living in an assisted care facility.

Who Is Going To Pay? – Probably You

Health care costs are rising at an alarming rate, and senior citizens are feeling the pain. Only the lucky few have health care benefits that they are not paying for themselves. And even those that do can’t be sure their health care retirement benefits will continue. Ask a retired auto worker or airline flight attendant how precarious retirement benefits can be. Private, full coverage health plans are quickly becoming out of reach to most retired persons. Realistically, most retired persons are going to be dependent on Medicare for their health care coverage. You need to spend some time understanding what your options are. It’s more than likely you are going to want so called “gap” insurance to supplement the standard Medicare coverage. The rules for switching from private programs to Medicare are also important to understand, as a mistake can end up costing you some big penalties.

The latest drug care program is so complicated it’s almost impossible to figure out exactly what to do. Spend some time to read and understand all you can before making any decisions. A good place to start is at the official government website. You might want to consider getting some professional advice as well. Most medical insurance companies have people who understand the complexities of the issue, so they can be a source. Check your local business directory. In some areas, there are companies that specialize in helping you select the appropriate coverage. A word of advice here; prices for standard coverage are regulated, so the major task is selecting the plan that is best for you, and then deciding which insurance company you want to use.

Don’t risk having failing health shorten your enjoyment of your retirement life. Following these six simple tips can help insure you enjoy your retirement well into your senior years. That’s the whole idea isn’t it?

About the Author

About The Author: Burt Widener writes extensively on issues concerning retirement. His website at http://www.allthingsretired.com offers a range of articles and other resources to aid retired persons find answers to common questions regarding retirement. The site is updated frequently to keep the content current. You can contact Burt at: [email protected].

 

 

50 Ways to kick-start your New Year

· 50 ways to kick-start your New Year

· Retirement? What is it? Who wants it?

· Why good financial planning can truly lead to golden years in retirement

Hi,

This week we stay on the essential topic of financial planning, having first considered the concept of retirement.
First up though, in this first issue for 2011, I give you an article full of information covering a wide range of activities and interests to give a huge boost to your New Year.

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50 Ways to kick-start your New Year
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We all need a boost from time to time. Often, New Year is as good a time as any to take stock, and as we try to shake-off the Winter blues we should be good to ourselves for the sake of our health. I was therefore impressed by the Daily Telegraph guide:
50 ways to feel good .It is an excellent piece, full of great ideas and resource links, with suggestions to suit most people. You can check it out at 50 ways to feel good this year

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Retirement: What is it? Who wants it?
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Two very good questions, to which there are many good answers. For many the concept of retirement is beyond contemplation. For others it is seen as fair reward for a lifetime of toil; or perhaps an opportunity to change direction, and take a new path in the journey of life.

Whatever your particular viewpoint, a little independent guidance as to what it may mean, and how best to handle it, could be both life changing and beneficial. There are many helpful courses for people at all stages of the retirement process. I am going to look at some over the next few weeks, and come back to you. Meanwhile, I leave you with this link to the retirement courses to be found at retirement courses run by the people at laterlife.com.

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Why good financial planning can truly lead to Golden years in retirement
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It is never too late to review your finances and plan for the future.
In a report in October last year, the this is money.com website gave a planning guide for action taking readers through the decades of life from the 20s upwards. For the60-lifers, Martin Bamford says:

‘Making choices at retirement is about so much more than simply choosing the most competitive annuity rate. It is becoming increasingly popular to use an Unsecured Pension to have greater control over income flexibility in retirement, often phasing the payment of tax-free cash over several years to reduce income tax bills. This is a more complicated strategy than buying an annuity but can really pay off over the longer term.’

Read more from the full report at pensions- tips and guides

WISHING YOU A HEALTHY, ACTIVE AND HAPPY NEW YEAR!

Do stay tuned-in! More next week…

Do remember you can pick-up more regular tips and news here at http://the60life.com

It’s not too late to think about your financial security

The60LifeWeekly

 

22nd July 2010

  • Is there a writing bug, and do you have it?

 

  • It’s never too late to think of financial security

 

  • Gas and electricity prices: who has the real deal?

 

Hi

This week, I have assumed that, as you clicked through to join the 60life weekly group, and also to obtain my free e-book, that one of our shared interests over time will be writing. Below is a very useful resource I have found for you…

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 Is there a writing bug, and do you have it?

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…Although I do not know your level of interest in, or experience of, writing, my intention in drawing your attention to the link below is to provide a link to an excellent new introductory resource which I hope many looking to take-up writing again, possibly for the very first time, (and an interest in books) will find very useful.

Booktrust  : ” Creative writing can be something very private. From jotting down your thoughts in a diary to composing a love letter, or writing something for the world to see: setting up a blog or even writing your own biography or novel.

All you need is a pen, some paper and a small bit of inspiration…

…Independent reading charity Booktrust [has launched] its first project aimed at engaging over 60s in reading and creative writing. Bookbite,[ launched on 8th February], is designed to “encourage those who rarely or never read books to engage more in reading and writing for pleasure, using the internet to access additional resources where and when possible”.

For some writing tips you should check this out:

http://www.bookbite.org.uk/writing/writingtips  Here you will find case studies, tips, resources, and great encouragement.

In later issues, I shall be looking at writing for both pleasure and profit.

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 It’s never too late to think of financial security

 

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Flexible funds to help weather the current economic storm.

 

At a time when a number of index-linked products have been withdrawn by National Savings and Investment

The Daily Telegraph reports that:

‘Stock markets are unpredictable at the best of times, but the economic turmoil of the past few years has left many fund managers wondering which way to turn…

“In my 20 years as a fund manager I’ve never had to work in such uncertain times,” said Ian Spreadbury, Fidelity’s strategic bond manager. “It isn’t clear whether we are heading into recovery or back into recession, whether this will herald an inflationary period or a prolonged deflationary one, or what will happen to interest rates.”

Cautious investors are hedging their bets by flocking to risk-averse funds that claim to offer flexibility to weather whatever storms lie ahead. Absolute return funds are top of the popularity tables, with cautious managed and strategic bond funds making up the remainder of the top 10.’

 

You can read the full report here http://www.telegraph.co.uk/finance/personalfinance/investing/7898286/Flexible-funds-to-keep-your-portfolio-in-the-pink.html

As promised, I am including Simple Financial Management in Retirement, a special free report prepared for you this week.

This is at  http://www.the60lifeweekly.com/FSIRSI.pdf

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Gas and electricity prices: who has the real deal?

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Now may be a good time to review what you are paying for domestic fuel.You have last winter’s bills by now, and with the lower demand

from customers in the warmer months suppliers may have a better deal for you. In any event, it is a good idea to check out regularly how your current charges compare with others.

This is not always an easy exercise but you could take some help from an independent online energy price comparison service. I can report that over50s.com has teamed up with ukpower.co.uk:

 

Ukpower.co.uk say: We compare gas and electricity suppliers and help people switch to the cheapest deal!

‘We compare the whole market so you won’t find any deal cheaper elsewhere, no other website, doorknocker or energy supplier can beat that!

It’s completely free, the service provided is paid by commission we receive from suppliers when you switch on our website.

We are completely impartial, we list all tariffs from all suppliers, including those suppliers who do not pay us commission. We are accredited by the consumer focus confidence code so you can be sure the website compares all tariffs in a fair and impartial way.

You can save up to £350 by taking just five minutes to switch your energy supplier.

Start your comparison by entering your postcode above, and see how much you can save!’

http://www.ukpower.co.uk

In the next issue, I’ve got for you news and tips about:

  • further developing your creative writing skills
  • a way to fitness at a stretch
  • saving money with a late summer travel offer

 

Look out for your next issue on 29th July.

Yours ,

Mike Paterson,

The 60Life Weekly

 PS: If you have your own stories, tips, or feedback please send them to me at

[email protected]

Disclaimer: It is always my intention to be as accurate in fact,detail and comment as possible. However, I cannot be held responsible for any error in details ,accuracy or judgement whatsoever. This e-letter is produced on this understanding.

Super Sixty-somethings

Sticking to the celebration theme of last time, how about the cult of the super sixty-somethings? My attention was drawn to the fact that Sting (formerly of The Police rock band) is in his sixtieth year, and will celebrate his next birthday on 27th September. Encouraging, too, is that he looks in very good form, which I hear  he puts down mainly to having a ‘slim frame’,a  happy marriage, and pilates.

The Times at the weekend, too, was taken with the Super Sixties who were said to be having it all. A peaceful retirement was not in the mindset of  many in a report including a DJ,( 68); male model (67); magazine editor (60); and designer (63).  Emma Soames,(60), editor-at-large of Saga magazine,and looking good herself, reports on the changing lifestyle choices available and being taken by the baby-boomers now reaching pension age (that is,the age that  it is at the moment). Shorn of tying young family and financial commitments,  apparently, with health improvements from medical advances, and a life expectancy for a man likely to be to age 85 (in 1950 this was 67), the super sixty-somethings are making radical choices more in common with forty-somethings than 7o year-olds. Travel rather than ‘a slippers by the fire’ existance is becoming more the norm for a quality of life.

The pin-up of the piece goes to designer Diane von Furstenberg who adorned the Times weekend magazine cover. Her last birthday was reported here http://www.huffingtonpost.com/2009/12/31/happy-birthday-diane-von_n_408547.html

Retirement changes give savers control

By Financial Times reporter Alice Ross

Published: June 25 2010 18:21

The government this week announced sweeping changes to retirement benefits, which consultants said should make saving into a pension more attractive. To read the whole of this article go to:

http://www.ft.com/cms/s/2/b7e50a4c-807d-11df-be5a-00144feabdc0.html

The article also emphasises a telling number for working people : 12%. This is the proportion of annual salary,according to Scottish Life, that needs to be saved in a pension in order to provide for a comfortable retirement.

Live longer and prosper

This may be likened to a familiar sci-fi homily, but it can be growing reality and life choice for many people in or approaching their 60s and 70s. Currently bombarded with a welter of figures from the Office of national Statistics, we are learning that  people are living longer [see earlier post]and also working longer than ever before.This maybe because of economic necessity, or a wish to remain active and involved, or both. A recent survey by Saga and the National Endowment for Science,technology and Arts (Nesta) has found that of 13,000 respondents nine out of ten older workers say retirement should be about ability to work,not merely age. So if you are able and want to work beyond a certain age, the statistics suggest that if the opportunities to work arise (and so often do, if we look in the right places) you will be around to do so.For more…

http://www.dailymail.co.uk/news/article-1289761/Nine-older-workers-say-retirement-ability-work-merely-age.html

Are you ready to live so much longer?

Source: Office of National Statistics

Live longer,live life given a longer life expectancy

This page usually tries, if anything, to be encouraging.For many people life at a certain age is an attitude of mind and not a number. We can live on hope and expectation, that we will be blessed with reasonable good health and the level of wealth to enjoy the later years. Occasionally , we have to look at the numbers so that things are left not completely to happenstance. Financial and other planning can help to provide a little more comfort.So there is a message for us in official statistics. According to the official ONS data for 2006-08, males at age 65 can expect to live an additional 17.4 years, the corresponding number for females at age 65 is 20 years. For more information behind these headline figures you can go to http://www.statistics.gov.uk/cci/nugget.asp?id=168

The new UK government has decided that the previous government’s plans to raise the retirement age were not ambitious enough given the rising life expectancy and the huge current level of Government debt and future pension liability.So 10 years earlier than planned, it is now proposed from 2016 to raise the retirement age for receipt of state pension from age 65  to 66 (for females this is likely to be from 2020).For more on this…http://news.bbc.co.uk/1/hi/business/10375740.stm and according to a report in the Times website the plan is for the retirement will rise eventually to age 70.http://www.thetimes.co.uk/tto/news/ So with the encouraging news of possible longer life comes the challenge of having enough money to see out this extra time. The future aim of these pages, in addition to exploring areas for continuing life improvement generally, is to bring out information on how this challenge of financial security might be achieved. 

Long Term Care:Will you be able to afford it?

Now that the battle lines have been drawn for the next UK General Election, the main political parties will be focusing their attention on attracting voters to their policies. High on the list will be the NHS, and what each will do for it given the power of government. Within the NHS there is the ticking time bomb that is the paying for Long Term Care for the Elderly.

We are already seeing something of the growing problem of caring for these folk. Many, today, can expect to live around 20 years beyond the current retirement age of 65. Most of them under the present rules have to sell their homes to cover the cost of residential and nursing care. Only when their assets have reduced to £23,000 will the local authorities provide any financial help.

The ‘would-be’ government representatives will, over the next few weeks at the hustings, be wooing the voters with their policies. The stark truth is that the problem of the growing number of people who will require help in their later years cannot now be ducked, as before. It now needs an early fix for the long term. So you will hear much talk of insurance schemes,death taxes and other means of contributing towards the care you may one day need. The debate will rage on.

For some more information on professional advice available on this and many related issues,you can go to the website  of Hillier Mckeown , Solicitors (please note – the 60 life has no business affiliation whatsoever with this firm , the link is intended as a helpful source of information).

In later posts we shall lift the mood a little!

Moving the chairs around on the deck of the old ship Britannia?

Now that the last Budget before the next UK General Election expected in May is stowed away, what do we make of it? Some commentators have been at best neutral about Chancellor Darling’s efforts to steady the ship, many others have looked on the Budget as very much a political one where the chairs on deck are being moved around  with money previously earmarked for schemes being switched into other more high profile and ‘deserving’ ones. Whether the effect of this financial engineering will help save the UK economy, in any way better than the moving of the furniture around the deck saved the RMS Titanic, is something we will not know until the passage of some time. Certainly,the result of this Labour will not become apparent until long after the imminent May General Election.

the 60life of work

Now to a specific Budget topic which is of interest to many in the 60-lifer group, who incidentally are a growing and therefore potentially more influential block of voters, spied in yesterday’s Financial Times under a sub-heading “Over-60s”.It was reported that the minimum number of work hours needed to be eligible for the working tax credit is to be reduced, so as to make it easier for the over-60s to receive the benefit. Furthermore , there is to be consideration of a reform of the employer’s right to enforce people to retire at the age of 65. This could result in the scrapping of a default age for retirement. Now that would be handy then, given that many people may soon find themselves having to carry on working nearly all of their lives, in order to have an income sufficient to keep body and soul together. He giveth with one hand only to take it away with the other?

You know all this talk about projections for growth , borrowing and spending into 2014-15 ,and beyond, leaves us perhaps feeling it is not our day. What happened to yesterday’s promises, for people living in England and Wales, on care for the elderly for instance; and no person will have to sell his/her home in order to have properly funded care services if needed  in later years? Here is a quote to leave you with today:

‘Freezing the inheritance tax threshold to pay for older people’s care adds up to a funding increase of £110m by 2012/13 – a drop in the ocean compared to the over £1.79bn needed over the next two years to plug the social care funding gap’-

Michelle Mitchell, Age Concern Communications Director

Well, never mind, then.  You can just try to stay healthy and carry on working until you drop.

’til next time.