The E-zine seniorresource.com is FREE. Received it from a friend? Get your own subscription at http://www.seniorresource.com/ezine.htm Please Note: If web addresses do not show as a link, copy and paste it into the "go to" line of your browser. To ensure delivery to your inbox (not bulk or junk folders), |
| |||||||||||||||||||||||||||||
|
B. QUESTIONS TO ASK YOURSELF WHEN PLANNING FOR RETIREMENT C. LOW COST HIGHER EDUCATION D. DID YOU KNOW...? E. THOUGHTS FOR THE MONTH F. FREE THINGS G. SPECIAL SURFING SITE H. OH MY AGING FUNNY BONE
The Survey http://www.seniorresource.com/survey.htm
is ready for your input! Your privacy is respected; we don't capture information
unless you type it, and we never sell it or give it away. What you share helps
seniorresource.com and our clients know and serve the collective "you" better!
Even if you have never done a survey before, take this one! return to top A. SENIOR RETIREMENT OPTIONS by Jean Sutherland The baby boomers have no intention of sitting in a rocker and getting old. This generation has a whole new way of retiring and a lot of different ideas on how to do it. Their parents look on with longing envy; Baby boomers are finding that retirement can mean reinventing themselves and having the time to do all the things they ever wanted to do while they had growing children. Whether it is finding an active lifestyle community in the United States or moving to a completely new country, these boomers are on the move. In a slowing real estate market these communities are thriving, and will only increase in value. Another thing the boomers are turned onto is the home improvement market. Now that they have the time, they are not decorating inside, but outside. These are active seniors, and that means an active outdoor lifestyle. Now they concentrate on decks, barbeques, and gardening as well as looking beyond their yards to the activity of the streets.When it comes to activities, they are turning to cycling, skiing, hiking, tennis, swimming - and the list goes on. Any builder who has the foresight to see what these baby boomers want is now designing whole communities around their needs. This is a health-conscious generation, and if builders do not cater to these needs these retirees will go elsewhere. Any community where there is no yard to mow and little tending (but still an area where they can grow their roses and vegetables) and no pool to clean becomes an attractive area for boomers. Add to that a patio to enjoy with friends and family, develop an entire area for outside enjoyment, and you have a great community for this age group. Give them the opportunity to pursue hobbies, take up volunteer work and be able to enjoy the streets with a feeling of safety and it becomes the perfect place to live. Some builders, such as Del Webb, have created age-restricted communities, a huge plus for many, with complete recreation centers, meandering paths, golfing onsite or nearby and even bicycle paths. The recreation centers are large enough for lap swimming, water aerobics and usually have spas and saunas for relaxing. Along with the golf courses, many feature tennis courts, handball courts and fully equipped exercise rooms. The biggest plus for owners in these communities is that they do not have all the cleaning chores associated with these amenities. So if you are a boomer thinking of your retirement years, take heart. Builders are out there just waiting to cater to your every need. These communities will draw other like-minded seniors, lovers of the outdoors and activities, and friendships will develop easily. With these communities seniors get everything they are looking for as well as the knowledge that their properties will retain their value in the years to come. It's the best of all worlds. Jean Sutherland is a writer for magazines and newspapers and currently is retired and living in Mexico. Visit her website at: http://www.adultretirementcommunities.org for more information. Additional housing related information for seniors may be found at: http://www.seniorresource.com/house.html B. QUESTIONS TO ASK YOURSELF WHEN PLANNING FOR RETIREMENT "My husband is never going to retire. He loves to work." That is NOT a retirement plan...yet we've heard it said in all seriousness. What happens when he has a heart attack? Or turns 80? Only 1 in 100 Americans will retire with wealth. The rest either work in retirement, or retire in poverty, or both. You will likely spend at least 75% of your current working income when you retire. That equivalent income in retirement must be accounted for one way or another. Some stretch every penny; others take a part-time job. Some people move to less expensive areas, and some move back to where they came so that friends and family can help out if necessary, and travel expense to visit is lessened or eliminated. Some people stop dining out and others take up new less- expensive or income generating hobbies. Any way you do it - you've got to plan for the cost of retirement. The first thing to do when contemplating retirement is to realize that you're at a planning point. Yes, you probably should have saved more, but that was then and this is now. Don't fret - start taking stock and planning for happy "golden years"! Do you spend $10,000 per month today? You likely won't be able to when you retire - but the habit will be hard to break. Analyze your budget. Don't have a budget? Well, let's back into one by listing your expenses and tracking where the money goes. Shopping can no longer be a "hobby" once you retire; perhaps an occasional guilty pleasure for some, but not a therapy tool for anyone. Start shopping around for everything - you'll get really good at prying out a great deal on airfares, tickets, etc. Fly coach instead of first class. Ask for the "senior discount" when you entertain yourselves, if you qualify. Retirement doesn't have to be boring...just well planned out!Do you help support your children financially? That isn't likely to be as easy once you retire. In your case, retirement planning might well involve some financial education and planning choices for your children's households, too. Some adult children are in a position to help their parents - all the way to providing a home for them in retirement. This may sound great to you or you may want more privacy. Regardless, getting your adult children involved in your planning is likely a good idea. Do you give to your community? Once you retire you should give your time and not your cash. You have more time once retired than you ever had while working. Human involvement is worth much more to any philanthropic organization than a check. Why? Your lifetime of knowledge, experience, and sincere energy are valuable commodities and cannot be purchased. Let someone else crack the checkbook. You share the goals of your favorite charity so you'll experience a joyous labor, rather than a thirty second check-writing experience each month. Is your company offering a buyout? Maybe you should take it - but maybe not. Review all of the information. Maybe you can continue to work at another company - but maybe not. Think of your age and the job opportunities available. Perhaps you can take the buyout and sell your experience to the firm as a consultant? Maybe the healthcare benefits are too good to lose? Meet with you HR department and ask the hard questions. Paying off your house? Paying off your car? If you are, why not keep making the "payments," but to your retirement savings nest egg? Get your accountant and a financial planner in your area to help you evaluate your options. What about medical care? Insurance policies? It is of paramount importance that you look into your healthcare and your life insurance policies before you retire. What is the status of your health and your spouse's? This could figure heavily if you need to pay 10% of your income for health benefits. If you retire early this will especially come into play because you may not yet be eligible for Medicare. Look carefully into your insurance policies; you may find forgotten assets to help you retire. Was that policy meant to pay for your kids' college education should something happen to you? Well, they are likely out of college by now! The cash value in that policy might be part of your new income stream if reinvested wisely. What other assets do you have? Review all of them. Got an old classic muscle car beauty your husband takes out on the road once a month? Maybe he needs to find a new hobby, because the $30,000 cash he can invest from the sale of the car is part of your nest egg. He just never looked at it like that before. Or did he? Ask him! Maybe that boat you spend ten days a year on can be sold, and the mooring slip rental eliminated? What about that timeshare condo you go to once a year? Do you have multiple rental or vacation properties? Now let's consider something more mundane. Do you rent a storage unit? These are popular in California and other urban areas where space is at a premium. When was the last time you looked into the storage unit and took something out to use it? Right! Get rid of the stuff, and the storage unit bill goes away, too. What other options do you have? Can you retire to an area requiring less income to live within your preferred lifestyle? Many seniors move south for a few years when they retire and then find themselves moving back to where family, friends, and a lower cost of living are available. "Take care of the dimes and the dollars will care for themselves." There is something to that old saying. We earn money one dollar at a time while we are on the clock, but the ATM only gives out $20 bills. How do you spend cash in your family? Stop it! Use your checking account so that you balance the book every time you write a check. Carry little cash and don't use the plastic. Meet with your kids and discuss the options and see if they have any ideas to contribute. Talk with your accountant, financial consultant, HR department, and retired friends. If you need specialized medial care will your doctor be able to recommend a physician in the new neighborhood should you move? Will the new physician accept your insurance? Retirement should be a glorious time for everyone - some serious planning up front will help assure that it is for you, too. Additional finance information can be found at: C. LOW-COST HIGHER EDUCATION FOR SENIOR CITIZENS
A while back one of our readers asked if we could look into a rumor that
there was a national policy of free higher education for senior citizens
in America. Education for senior citizens is not only fun for those who
participate; it offers many tangible benefits. Recent studies show learning
can slow the onset of memory loss or dementia. The opportunity to mix
with highly educated younger people is beneficial for older persons, as
well as for their younger classmates. Real-life experience may be under-rated
in corporate America, but is valued amongst those younger people attending
college. They are going to be out working in the real world soon, and
you've got a lot to share! Seniors can enjoy tuition-free or reduced-tuition
opportunities at a wide range of colleges and universities, from institutions
that offer study in the liberal arts to technical educations. Some states
offer tuition waivers to their senior citizen residents only, and some
states such as Minnesota offer discounts to senior residents of other
nearby states, as well. Some universities are even exploring the idea
of providing or partnering with senior living facilities. Campus life
isn't just for kids anymore!
While in this land of opportunity there should be - but it turns out
that there isn't - a national law mandating free higher learning for senior
citizens, low-cost higher education for seniors DOES exist in most states.
These opportunities break down by age, number of credits allowed each
year at the waived or reduced tuition rates, and many states offer these
rate reductions "by institution." That is to say, in some states each
community college, state college, or university will have unique, if somewhat
similar, senior-citizen tuition waiver policies, so you need to check
in your area. If they are outside your area, but in a state where you
have family and friends who could use such a tremendous tool for staying
active, engaged, and healthy, be sure and let your family members and
friends in these locations know about the opportunity.
State links for senior education may be found at: D. DID YOU KNOW...? Naming a Successor Trustee Needs Consideration In establishing your self-administered living trust, one of the most
critical decisions is the selection of an appropriate successor trustee
to take over the duties of trustee if you no longer want or cannot be
the overseer of your trust. Whom you choose as your successor trustee
may have significant impact on how your estate plan is implemented. Many
investors appoint a relative as successor trustee, but you should consider
that these duties could be burdensome. Oftentimes, appointing a corporate trustee is a sound choice for investors.
Professionals have experience handling the complex obligations of trusts
oversight:
You may want to consider naming a corporate trustee as co-trustee, even if you select a family member as your trustee, Hence, your family member has input into the decision-making but is not burdened with the paperwork. Help for the Tough Jobs thanks to BK, San Diego.
return to top E. THOUGHTS FOR THE MONTH We present here some words from those with a birthday this month.
More "Thoughts" at: http://www.seniorresource.com/thought.htm return to top F. FREE THINGS Why a new pin? The Army Chief of Staff's (CSA) Retiree Council recommended replacing the "Retired, Still Serving" lapel pin. The council asked for a larger pin that could be recognized from afar, be worn on clothing other than a suit jacket, and that would show the continuing bond between the retired soldier and the army. Will you get one? Over the next few months, a packet containing the new pin will be mailed to retired soldiers. It will also include a letter from the CSA and the Sergeant Major of the Army, underlining the unending commitment between the army and its retired soldiers. Completing the packet will be news on the Army Strong theme and the recently increased recruiting referral bonus. It will be sent to the correspondence address on file at the Defense Finance and Accounting Service's Retired Pay Center. . The mailing will occur over four months, so you may hear from retired soldiers who receive the pin before you do. The goal is to have all pins in the mail by late spring. Be looking for your special mailing. Get Points for Shopping G.SPECIAL SURFING SITES Savings at the Exchanges
Authorized exchange customers can learn more about activities planned at their specific exchange by calling their local store, which can be found through the "store locator" link at: http://odin.aafes.com/bases/index.asp Fight the Gas Surge H. OH MY AGING FUNNY BONE Engineer's Delight A software engineer, a hardware engineer and a department manager were on their way to a meeting in Switzerland. They were driving down a steep mountain road when suddenly the brakes on their car failed. The car careered almost out of control down the road, bouncing off the crash barriers, until it miraculously ground to a halt, scraping along the mountainside. The car's occupants, shaken but unhurt, now had a problem: they were stuck halfway down a mountain in a car with no brakes. What were they to do? "I know", said the department manager, "Let's have a meeting, propose a Vision, formulate a Mission Statement, define some Goals, and by a process of Continuous Improvement find a solution to the Critical Problems, and we can be on our way." "No, no", said the hardware engineer, "That will take far too long, and besides, that method has never worked before. I've got my Swiss Army Knife with me, and in no time at all I can strip down the car's braking system, isolate the fault, fix it, and we can be on our way." "Well," said the software engineer, "Before we do anything, I think we should push the car back up the road and see if it happens again." Looking Forward "You grew up in a different world. Actually, an almost primitive one," the student said loudly enough for many of those nearby to hear. "The young people of today grew up with television, jet planes, space travel, man walking on the moon, and our spaceships have visited Mars. We have nuclear energy, electric and hydrogen cars, computers with light- speed processing and...," pausing to take another drink of beer. The senior took advantage of the break in the student's litany and said, "You're right, son. We didn't have those things when we were young. We invented them! Now, tell me, what are you doing for the next generation? Visit 1000's of jokes of interest to people who have lived a long and
rich life. return to top SPONSOR OF THIS ISSUE New LifeStyles, The Source for Seniors, is a comprehensive guide to all state-licensed and certified senior housing and care options and more, nationwide. Visit us online at http://www.NewLifeStyles.com to find what you are looking for. Read descriptions, view location maps and online tours, compare amenities and services, contact companies directly via e-mail, and save and recommend your favorites, all from the comfort of your own home. New LifeStyles print guides are available FREE for 44 areas nationwide. Click here to order a FREE copy or call 800-820-3013. SPONSOR AN ISSUE
This issue has been edited by Betsy Day (Betsyjday@aol.com).
|
 Home
|
Housing Choices
|
Aging in Place
|
Finance
|
Insurance
|
Senior Bazaar™
|
