Category Archives: Retirement

5 New Rules for Early #Retirement! #retire #retireinspired

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Honestly, who doesn’t want to retire early?! Very few of us are actually doing what we love everyday. Career and business choices are largely dependent on the local economy, and demand for your services or product. If you do have an opportunity and/or desire to retire early, click here for 5 new rules to prepare for early retirement! For 9 Ways to Build Wealth in Your 50s, click here.

We have discovered that the easiest way to save for retirement is not to earn more money, but to reduce current expenses. Look at every bill you have and ask if there is a way to reduce it. Call the company and ask if there is a discount for seniors. We just purchased a laptop PC from Dell, and they offered a discount for members of AARP! Do you actually watch all of the channels in your cable package? We saved $25 per month by eliminating HBO from our cable package. We saved $200 per year by increasing our car insurance deductible to $1,000. We cancelled Sprint long distance because they charged $6.95 per month for a service charge, plus Federal/State/County/Local taxes/fees on top of the $6.95. So, even if we made no long distance calls, we were charged fees every month! Look through all of your expenses to find ways to decrease them!

If you are over 50 and have discovered a new rule for early retirement, please share by joining us at The Fifty Plus Network:

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Top #Retirement Destination #MyrtleBeach! #retire #retireinspired

Anderson Park @ Myrtle Beach SC over 50

Myrtle Beach, South Carolina is one of the top retirement destinations is the U.S.A.! We discovered Myrtle Beach a few years ago, and thoroughly enjoy vacationing in this tropical paradise! On our last trip, as we walked down Ocean Boulevard, we noticed Anderson Park, a free public park that is right on the beach. The park is filled with palm trees, benches, and swings. You can feel the salt water breeze blow through your hair. Some people don’t like to get sand on their feet, so they can sit in the park and still enjoy the beach atmosphere.

 

Our top 4 reasons for vacationing in Myrtle Beach:

  1. As soon as you cross the state line into South Carolina, you see beautiful Palm Trees!
  2. The climate in South Carolina feels like the Caribbean. If you love the Caribbean, you will love Myrtle Beach!
  3. Reasonable prices for hotels, food, gas, and entertainment will help stretch your vacation dollar!
  4. There is lots to do in Myrtle Beach, including entertainment venues such as Broadway at the Beach, Dolly Parton’s Pirates Voyage Dinner and Show, and the Hollywood Wax Museum.

If you are over 50 and have a favorite vacation destination, please share by joining us at The Fifty Plus Network:

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#Retirement is Good 4 Your #Health! #retireyourway #retireinspired

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The statement “Retirement is Good for Your Health” seems like a no-brainer … Of course it is … Well, now we have empirical proof from the National Bureau of Economic Research that shows how much of a good thing retirement can be for all of us! Naturally, it is important to take care of your physical and mental health. It is also important to stay engaged with a social network. Too much time alone can lead to loneliness. For more details, click here.

If you are over 50 and have discovered that retirement is good for your health, please share your experiences by joining us at The Fifty Plus Network:

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Ladies — Prepare for #Retirement! #womenover50 #womenover40 #retire

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Women have special considerations when it comes to planning for retirement. Why? Here are 3 reasons:

  1. Women have a longer life expectancy
  2. Women “traditionally” have allowed their husbands to control the finances
  3. If a woman has children, she may have been out of the workforce due to child-bearing and childcare

According to the Center for Disease Control, the average life expectancy for women is 81, and for men it is 76. Therefore, women need to know how to manage their finances, and women need to prepare for a longer retirement! Women should be actively involved in managing the household finances. Women should know about all bank and investment accounts, insurance policies, real estate owned, automobiles, precious metals. Women also need to know about liabilities such as mortgages, automobile loans, personal loans, and credit cards. The best way to search for assets and liabilities is to order a credit report. For more on the importance of financial literacy for women, click here. To learn more about the affect of child-bearing on women’s wages, click here. For details on preparing for retirement, click here.

If you are over 50 and have financial tips to share, please share your thoughts by joining us at The Fifty Plus Network:

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What is “Cost” of Keeping Your Nest Egg in Cash? #invest #investing

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As you approach retirement, one of your biggest concerns will be what to do with your nest egg. Inflation and market volatility can eat away at your nest egg. It is crucial that you:

  1. Do your research
  2. Develop your plan
  3. Execute your plan
  4. Monitor and adjust your plan based on the economy, market performance, and your financial needs.

If you are a very conservative investor who abhors risk, you may be tempted to keep all of your nest egg in cash, such as bank deposits, certificates of deposit, and money market funds. If that is your plan, the following article discusses the “cost” of keeping your nest egg in cash. For details, click here.

If you are over 50 and have discovered ways to manage your nest egg, please share your tips by joining us at The Fifty Plus Network:

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Make #Rent vs Buy Decision Easily! #retirement #realestate

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If you are in the “pre-retirement” or “early retirement” phase of your life, chances are you are trying to make a decision about housing and where to live. Housing is usually the largest item in the budget, therefore the “housing” decision will impact how long your retirement nest egg lasts. With low interest rates, it may or may not make sense to buy a home. To reduce expenses and the time/effort to maintain a home, it may make sense to rent. The U.S. tax code favors homeowners. To learn more about the rent vs buy decision and tax implications, click here. Realtor.com has a neat “Rent vs Buy” calculator widget. You enter the zip code, desired monthly rent, desired home price, and how long you plan to live in the home. The calculator will tell you whether it’s cheaper to rent or buy! To give it a try, enter your numbers below.

If you are over 50, and you are trying to make the buy vs rent decision, please share your concerns by joining us at The Fifty Plus Network:

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Imagine a #Vacation Home on the #Beach … #realestate #vacationhome

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After such a long and challenging winter, our thoughts turn to sunny vacation days! Imagine a quaint vacation home near the beach … a warm breeze flowing through the windows … the smell of salt and sand in the air … Ahhh … Wouldn’t it be nice to have a vacation home waiting for you? With low interest rates and moderate home prices, it’s definitely a possibility! Before you call your Real Estate Agent, discover the hidden costs to owning a vacation home by clicking here.

Still thinking about buying a vacation home? Learn 4 keys to buying a vacation home by clicking here.

If you are over 50 and have discovered tips for buying a vacation home, please share your tips by joining us at The Fifty Plus Network:

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5 Ways to a Happy #Financial Life! #retirement #retireinspired

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After a lifetime of scrimping and saving, what do we have to show for it? We have all made mistakes in our financial lives, and the process of trial and error helps us learn valuable financial lessons. Columnist Jonathan Clements is retiring after years of writing financial columns. He shares what he has learned during his financial life … For 5 Ways to a Happier Financial Life, click here.

Do you have any tips to share for a happy financial life? If so, please share your “happiness” tips by joining us at The Fifty Plus Network:

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How to Turn #Retirement #Savings into #RetirementIncome! #retire

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You have sacrificed and saved for decades, and you are now ready to drop the 9-to-5 and spend your days doing something you enjoy! One of your first questions is — How do I turn my retirement savings into retirement income? If you are approaching 50 or over 50, it is only natural to wonder how to turn your retirement nest egg into a consistent income. You may have developed health concerns and want to prepare for the possibility of retiring early. Erik Carter, Forbes Contributor, has written an excellent article on the subject. For details, click here.

Do you have any tips for turning retirement savings into retirement income? If so, share your tips by joining us at The Fifty Plus Network:

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#Financial Advice + Free Dinner = What? #retirement #retireyourway

Financial Freedom

If you are approaching or close to retirement, you have accumulated a nest egg which needs to be managed. It is critical that your nest egg outpace inflation, which eats away at the purchasing power of your nest egg over time. You can manage the nest egg yourself, or get help. Help can come in the form of investment newsletters and financial advisors. We prefer newsletters, which cost a couple hundred dollars per year. Financial advisors can cost a percentage of your nest egg, for example one percent. One percent doesn’t sound like much, but it adds up over years, and it can be significant. One marketing technique used by financial advisors is to send out invitations to a free lunch or dinner. We have received such invitations, but never attended. A recent article in The Washington Post showcases a financial advisor who targets the wealthy. The article offers excellent tips to keep your money safe. For details, click here.

If you are over 50 and would like to share your tips for managing your nest egg, please share by joining us at The Fifty Plus Network:

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