Tag Archives: retirement

#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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Williamsburg’s New Town! #retire #retirement #williamsburg

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Join us at thefiftyplusnetwork.com as we explore a new retirement community in Williamsburg, Virginia … It’s called Williamsburg New Town! New Town is a brand new community built on 365 acres of bucolic countryside in Williamsburg, Virginia U.S.A. It has homes for singles, families, and retirees, as well as medical facilities, restaurants, and entertainment venues. We ate dinner at the Bonefish Grill seafood restaurant, and then took a walk around the outdoor shopping promenade. Residences are within walking distance of shopping and entertainment venues. The center of the shopping area is a large fountain. To learn more about Williamsburg New Town, click here.

Williamsburg, Virginia is considered the birthplace of America. The first immigrants to America arrived at Jamestown in 1607. The Jamestown Visitor Center takes you back in time to the arrival of the first Europeans and Africans. Williamsburg also has other attractions such as:

  1. Colonial Williamsburg
  2. Busch Gardens
  3. Water Country USA
  4. Outlet Shopping

If you are looking for a retirement home, consider Williamsburg. It is a slower pace, the people are very friendly, the food is excellent, and it is visually appealing!

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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.

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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.

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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.

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5 Ways to #Refresh & #Rejuvenate at the #Beach! #fitness

Going to the ocean is like going back to the source. Watching the waves crash to shore, feeling the sand vibrate and move beneath your bare feet, shows the powerful force of the ocean. Watching, listening, and feeling the power of the ocean is mesmerizing. Whenever we want to refresh, rejuvenate, and reduce stress, we head to the ocean! Here are 5 ways to refresh and rejuvenate at the beach:

  1. Take a deep breath of salty air. (Inhale and count to 7. Hold for 7 seconds. Blow out while counting to 7.)
  2. Dig your toes into the wet sand.
  3. Close your eyes and listen to the waves crashing to shore.
  4. Get up early and watch the pelicans hover over the ocean looking for breakfast.
  5. Watch the dolphins play in the morning. Virginia Beach has schools of dolphins that are very active in the morning. At the Ramada Inn on the north end, we could eat breakfast and look out of the huge picture window to see the dolphins! How exciting!

To save money, take a day trip to the beach. If you can drive to the beach in 4 hrs or less, make the trip and come back the same day. When I was a child, my Dad loved taking us to Ocean City. We would wake up on a summer Saturday morning and he would say, “Ready for the beach?!” Of course we were! We grabbed our towels and pillows, and raced to the car! Great memories …

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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.

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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.

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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.

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