Tag Archives: baby boomer

#Retirement Planner Recommends 2-3 Yrs of Living Expenses for #Retirees!

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We got up at 5:30 am on Saturday morning to attend a retirement planning seminar. The most important advice imparted by the speaker was the following: Retirees should have 2 – 3 years worth of living expenses stashed away for emergencies! Why? The reason is that it takes 3 years (on average) to recover from a bear market. What is a bear market? Think back to the Autumn of 2008, when the stock market dropped 50% over a 6 month period of time from September 29, 2008 to March 5, 2009. That was the beginning of the bear market. The speaker said that it usually takes about 3 years for the economy to recover from a bear market. Therefore, it is crucial to retirees’ survival to have 2 – 3 years of living expenses to pay bills, and stay afloat. If a retiree has to spend down their retirement accounts to pay bills, they may have to sell stocks or mutual funds at depressed prices. In farmer parlance, that is called “eating your seed corn.”

Where To Stash Emergency Fund?

When saving for the emergency fund, the speaker advised safe bank accounts insured by the FDIC. Brick and mortar banks pay less interest than online banks, but pre-retirees and retirees are most likely more comfortable with brick and mortar banks. It is reassuring to know we can reach our brick and mortar bank in a few minutes, and access our funds.

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Stretch Your Body! Move Your Body! Otherwise … #health #healthy

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For new retirees, one of the most important activities to incorporate into your TDS is exercise. Why? If you are spending more time around the house, chances are you are less physically active than you were when you were working. Less physical activity leads to stiff joints. Stiff joints lead to pain. What’s the solution? Move your body! Start with daily stretching. Stand up, spread your feet about 2 feet apart, and raise your hands as high in the air as you can. Feel the stretch from your fingertips all the way down to your toes! Hold the stretch for 30 seconds. Then, bend over at your waist and try to touch your toes. If you cannot reach your toes, do the best you can. Hold the stretch for 30 seconds. For 7 early morning stretches, click here. After stretching, it’s time for a 10 minute walk to get your juices flowing! If you can go outside for your walk, great! If not, walk around your home, or up and down the stairs. You can even walk in place while watching TV! We try to walk for at least 10 minutes after every meal. Walking after every meal provides 3 benefits:

  1. Walking helps with food digestion
  2. Walking increases metabolism
  3. Walking burns calories

Before starting your walk, make sure your ankles are flexible and strong by performing the following ankle stretch:

Of course, check with your doctor before beginning any exercise program. Alert1 Medical Alert Systems has a variety of senior care technology products to alert your loved ones or 911 if you have a medical emergency.

 

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Celebrate Year-Round #Vacations at #VirginiaBeach! #over50 #travel

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When we were young and newly married, we visited Virginia Beach at least once per year, sometimes twice per year! Virginia Beach was and is a magnet beach spot for young folks! Even though we are now over 50, we still enjoy visiting Virginia Beach. We just have to take certain precautions to ensure our “comfort.” We love the Hilton brand, so we usually stay at a Hilton hotel when we travel. When we were in our mid 40s, we stayed at the Hilton Oceanfront when it was a brand new hotel in the center of Virginia Beach! We were excited about being among the first to experience the new Hilton. As we started to wind down after we checked in, we noticed the Sound Stage next to the hotel. For some reason, we weren’t concerned about it until we were ready to go to sleep around 10pm. At that point, we realized we were no longer “spring chickens.” We were irritated that our sleep pattern was being disrupted!

So, our first bit of advice to our “over 50” nation … book a hotel that is not in the center of all the action! Typically, when you make a reservation, you are not thinking about the amount of noise present, or an entertainment venue might be next door. In our opinion, the hotels on the northern part of the beach are quieter.


Our second travel tip for “over 50” travelers has to do with the hotel floor selection. When we visited New York City during the holidays, we stayed at the Hampton Inn Times Square. The price was right, and we love the free breakfast! However, when we checked in, the front desk gave us a room on the 29th floor! At the time, we were tired and not thinking well, so we accepted the room on the 29th floor. To learn what happened in the middle of the night on the 29th floor, click here.


Our third travel tip for “over 50” travelers has to do with our health … stay hydrated! We just learned that one of our uncles was recently in the hospital for 3 days because he was traveling and not drinking water on a regular basis. He developed a kidney infection that affected his blood sugar and blood pressure. He didn’t want to drink alot of water because he didn’t want to stop every hour for a bathroom break.

To summarize our 3 travel tips for over 50 travelers:

  1. Search for accommodations that are away from the center of activity
  2. Request a hotel room on the 7th floor or below
  3. Stay hydrated by drinking plenty of water

If you are over 50, and you have discovered a travel tip, please share your travel tip by joining us at The Fifty Plus Network:

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