Hassle-Free Real Estate Investment Even on Retirement

By Markus Skupeika

 

A Home Mortgage and a Retiree do not make a good fit, do they? A person nearing retirement would definitely prefer a hassle-free post-employment phase in his life, but more often than not, most retirees are still faced with the burdens of mortgage on a real estate investment and the scythe of foreclosure looming just above their heads.

Two options are available in this situation: 1) pay it off, or 2) refinance it.

It is a sad plight for a 65-year old to be still worrying where the next mortgage payment would come from at a time that he should be spending his retirement fund on pleasant surprises that life can still offer him, like travels and vacations, golf trips, or a day at the beach. On a sadder note, there are those worrying over mortgage payments, while stacks of hospital bills to pay pile up on their side trays. In both situations, paying up for the loan PRIOR to retirement is the best option. However, when one is left with no choice, but to carry his mortgage over to his retirement, he can decide either to pay it off or refinance it.

The million-dollar question: which is the best way to take?

First, determine the remaining balance on your mortgage. Can you manage to fully pay it off? When resources are available, why not? Nothing beats the peace of mind derived from being debt-free. When this is the option you will take, you can make temporary "trade offs" or bargaining agreements with yourself and with those who will be directly affected by your decision. Wanting to pay off a major account entails sacrifice – you may consider taking on another job even after you have retired, or you may opt to forego some wants, and focus on your immediate needs.

Second, consider refinancing when the outstanding balance on your mortgage is still way too high for you to fully pay off at a time. Consult a trustworthy mortgage investor nearest you. He can offer you advices akin to his expertise, and could assist you in coming up with an informed and intelligent choice.

Third, do the math. How much is the interest rate of your mortgage? If you invest your money elsewhere, can you generate interest that can surpass or compensate the cost of your money gone on interest payments of your mortgage? If this is possible, then by all means, opt for refinancing, which usually provides lower interest rates; otherwise, pay the balance in full.

Ideally, retirement should not be weighed down by concerns that should have been addressed during one's productive years. But life is far from being ideal to most, and that they have to face up to the rigors of saving up payments to their mortgage even during retirement.

It is advisable to consult a reliable mortgage investors companyfor sound advice whenever necessary. Its expertise and competence in handling mortgages can redirect your path to the best option you can take, while on retirement. When you do, you can look forward to really blissful "sunset" years ahead of you.

The competence and expertise of private mortgage investors can go a long way to enable anyone impact a major decision pertaining to his real estate investments. When in Florida, Grace Fund, LLC http://www.gracefundllc.com, with private mortgage fund of $20 million is a good resource for financial assistance and advice in high yield investments. Check them out! Article Source: http://EzineArticles.com/?expert=Markus_Skupeika

How Retirement Planning Software Can Help Make Your Future a Brighter One

By Jeffery Dodd

 

It's been a good run for you, and now you are thinking about retiring – but are you really ready for it? A lot of people retire without really putting much thought into all the things they need to plan for prior to retirement – and these are the people who end up having money woes at a time when they should be enjoying the fruits of their labor. These are the people who fail to use financial planning software to guide them towards a better and brighter future.

Of course, there are those who really prepare for it by investing in tools that would assist them in their retirement planning every step of the way. These people use the help of retirement planning software as their guide towards a more comfortable retirement lifestyle. As tech-savvy as it may sound, retirement planning software are actually very user friendly. Even those who only have basic computer know-how will have no problem using retirement planning software, with its foolproof step-by-step action guides and sound retirement planning tips that anybody can easily follow.

The beauty of this software is that you don't have to leave your home to take action in your retirement plans. Gone are the days when you have to make appointments to consult with professionals regarding your plans for retirement. If you suddenly wake up in the middle of the night besieged by certain fears about retirement, it is so easy to just turn on your computer, run your financial planning software and navigate through it until you come across the section that discusses whatever fears you might have about retirement. Try, as you might, no human retirement planning advisor would enthusiastically entertain your queries in the middle of the night.

There is a variety of retirement planning software programs out in the market nowadays, with different retirement planning software ratings, offering a variety of solutions and styles of presenting information. In general, all of them aid you in adding up and computing your monetary figures and numbers, but explore each and every program you come across and compare their differences to find out which one will most likely serve you and your family's needs best.

Retirement planning software is easy to find in most stores that sell computer software. They are also readily available on the Internet. Scout around for software that has the best program for you at a price that can't be beat. Keep in mind though, that the most expensive program isn't necessarily the one that you should get, or that the most value-for-money software is lacking in terms of program content. It all boils down to personal preference, and the best way to make the smartest decision about purchasing a retirement planning software is to know how exactly you envision your future to be and what kind of aid you might need in order to attain it.

Jeff Dodd is a master expert writer on Retirement Planning Software. If you like more info, head over to http://www.simplyretirementplanning.com Article Source: http://EzineArticles.com/?expert=Jeffery_Dodd

The Identity of Baby Boomers - Where Are We Today

By Dan Skriver

 

If you're a Baby Boomer, you are deeply invested in where you've been and where you are going. As the Baby Boomers have hit their fifties, they are now at a point in life to start looking towards retirement and the free time that it will bring. If you are in this group of people, you may be wondering where you life will take you.

Baby Boomers are part of a generation which has seen massive changes occur in the world they live in, and this has given them an insatiable urge to stay mobile and keep learning. Baby boomers travel more than any generation before them, to the point where they set up budgets to meet travel expenses. If you are looking towards retirement, there is a good chance that you will consider taking to the road, whether that means weekend road trips in an RV or a whirlwind trip to Europe.

Baby Boomers are also shown to have a marked concern about their retirements and whether they will be able to have the retirement they want. While some are reacting to this by making investments, other Boomers have decided to delay their entry into retirement and stay in the work force a little bit longer.

When thinking in terms of self identity and concerns with body issues, Baby Boomers are a great deal more aware than previous generations. Even now, yoga classes and martial arts classes are showing high numbers of Baby Boomer attendees, and it is clear that they have a real dedication towards taking care of themselves. Baby Boomers are also very interested in non-standard ways of getting fit. While there is still a sizable contingent that enjoys treadmills and free weights, you will also see plenty of Boomers doing Pilates, belly dance, swing classes and fencing!

As they age, Baby Boomers are also outgrowing the materialism that have marked their generation. They are taking a critical look at things like pollution and energy conservation, and many of them are changing to more eco-friendly lifestyles. They are taking an interest in things like recycling, wind power and renewable energy sources and more than that, many of them are putting time and effort into grassroots organizations that educate people about these things.

If you are Baby Boomer, you are reaching a turning point in your life. There are many choices that are open to you and many things that are possible. Take a look at Hello Boomers Magazine at http://www.helloboomers.com and see what your peers are doing and find out everything that you yourself could be enjoying! To learn more about the Baby Boomers and the challenges they face, please go to http://www.helloboomers.com. Dan Skriver is a writer and editor for Hello Boomers Magazine, covering all subjects related to the Baby Boomer generation. Article Source: http://EzineArticles.com/?expert=Dan_Skriver

Start Your Retirement Planning Now

By Terje Ellingsen

 

Retirement planning should be an issue that everyone should be concerned about, no matter the age. Unfortunately many people don't face this important part of their personal finance planning before they are forced to, which in most cases means when they are about to retire. The earlier you start, the better your opportunities, security and financial freedom you gain when the time comes for you to retire.

There are basically two ways of financial planning for your retirement

• regular payments into your retirement portfolio
• retirement investment planning

The first option is the easiest but less prosperous, the second means taking control of your own retirement investing.

If you choose the last option you will need

• the knowledge of different investment options

• to choose an investment option or better; make a portfolio of various investment options

You can acquire the knowledge by visiting a bank, a self directed IRA advisor or search on the internet. You will learn how to gain control over your retirement investing, by alerting you to investment options in stock trading, real estate, venture capital and more. It is reasonable to utilize several different investment options and build up a portfolio containing a variation, rather than place all your eggs in one basket. As many studies have shown, a differentiated investment portfolio of these kind of assets provides flexibility and opportunities for lucrative return in addition to a higher security in the long run.

Why should we stick to the traditional retirement investments in an ever changing economical world? Why not learn about and try out some new, non-traditional retirement investment options? Since a person's retirement period is now longer than ever, you deserve to live the good life also after you have ended your career. Just think of all the things you dreamed about doing if you only had time for it. Your retirement provides an excellent option for making your dreams come true if you have financial freedom. Personal financial planning for retirement should therefore be one of your main concerns today.

Terje Brooks Ellingsen is a writer and internet publisher. He runs the website 1st-Self_Improvement.net. Terje is a Sociologist who enjoys contributing to the personal growth and happiness of others. He tries to accomplish this by writing about self improvement issues from his own experience and knowledge. For example, careers and retirement planning as well as personal finance issues . Article Source: http://EzineArticles.com/?expert=Terje_Ellingsen

Retirement Communities - Important Points To Consider

By Jonny Strong

 

Hopefully you are like ourselves in that we don't believe retirement is a quiet, boring phase of life. Rather, to the contrary, we want you to embrace retirement with vigour and bundles of enthusiasm because it really can be the most enjoyable phase of your entire life. But, and here's the key, it will only be so if you choose to spend it in the right place which suits you and your preferred lifestyle. That 'right place' we believe, can for many, be in retirement communities.

One of the main attractions of retirement communities is the fact that they offer the support and companionship of other retirees. This is especially important since it offers warmth and sustenance and common, shared life experiences. Retirement communities also offer diverse facilities and activities to fit most retirees' needs. There are also excellent medical facilities and competent certified healthcare practitioners ready to extend health services.

Finding the perfect retirement community is part of the reward brought about by a carefully planned retirement. There is no doubt that it is beneficial to know what you really want to do in your retirement years which will eventually point to your ideal retirement community.

Most popular retirement communities are designed to give you a bustling social life when you want it, plenty of opportunities to learn new sports, hike, picnic, party...and when you want to get away from it all, all you have to do is find a quiet spot in or around your house, and settle down with a good book. For those who cannot decide how they want to live their retirement years yet, there are rental communities that offer great diversity in terms of interest which offer short-term amenities rentals which can even go for as long as a year.

If you are the traveling sort who loves to be on the go and seeking adventure then you are sure to enjoy retirement RV (retirement vehicle) communities that cater to RV enthusiasts and offer homes that can accommodate even the biggest recreational vehicles and a support group of retirees who also share the same passions.

Maybe golf is your thing and you are the sort who wished away many a working day dreaming of being on the course rather than listening to your nagging boss! There are various retirement golfing facilities which have simple 9-hole courses, executive 18-hole courses and even the most challenging championship courses. Aside from golf courses, a lot of retiring golfing communities also have sports facilities such as tennis courts, swimming pools and fitness centers to cater for the rest of your sporting desires.

One of the most important guarantees that retirement communities can provide is instant, quality healthcare for its residents. A life care retirement community must provide healthcare to its residents up until the end and no matter what type of disease or disorder he or she is suffering from.

A few other things to consider when choosing the retirement community which is right for you would firstly include the whereabouts of the grocery store and major shopping. Is there a shopping center located nearby and where is the major shopping mall? Is it within a comfortable walking distance, if you perhaps don't want to be bothered taking the car, if even have a car at all.

Secondly, you need to consider the security services on offer at the community. What does this consist of? Is there an electronic gate only, a 24-hour manned gate, or manned gate and patrol. The manned gate plus 24-hour patrol is best. It is wonderful and gives so much peace of mind.

Thirdly, make appointments to visit. A good course of action is to contact the retirement community or homebuilder and let them know you are interested. Once you have done this a few times, choose which communities you like best. Once you are in a community, only then will you know how important having all these conveniences will be to you.

So, in short, definitely consider retirement communities as an option for spending the autumnal years of your life in relaxed comfort. You have worked hard all your career, and it is now time to pamper yourself a little and surround yourself with amenities and people you deserve to have around you. Follow the advice given above and we sincerely hope you will find your ideal retirement community.

For lots of advice and information on retirement - communities, retirement planning in general and on financial aspects in particular - 401(k) plans, IRAs etc, visit http://www.Planning-Your-Retirement.com/retirement-planning.html straightaway! Article Source: http://EzineArticles.com/?expert=Jonny_Strong

What Have You Done Today for Your Retirement Income?

By Don Seibert 

 

You are the Captain of your ship! You are totally responsible for the amount of income that you have (or will have) for your retirement years. Yes, you will get some help from good old Social Security, but who can live any kind of retirement lifestyle on that meager amount?

You can take charge of your retirement right now! Whether you are just approaching retirement and are worried about having enough saved or you have just retired and realize how tough it can be if you have not saved enough - there is help available. No, I don't mean some welfare agency and I surely don't mean for you to take a minimum wage job to make ends meet.

The main thing that is required is a change in your thinking. I'm not trying to sell you anything and this will not require much more than an investment of your time. There are tried and proven ways to earn extra cash on the Internet.

Wait! Don't stop reading now. This is not as difficult as it might seem. If you can write a 500 word article (like this one) about a topic of your particular interest, then you, too can generate traffic on the Internet and earn some valuable income doing it.

If you are just thinking about your future retirement, consider doing a little extra on the net and earmarking the proceeds into your retirement savings account (Preferably, a tax advantaged IRA of Keogh account). If you are in the notorious Red Zone (from 5 years before retirement until 5 years after your retirement date), the income from your internet activities can be used to live on and prevent you from making withdrawals from your nest egg during this critical time. If you are past the Red Zone, then just consider the Internet profits as extra spending money to help you stay busy and enjoy a little better retirement lifestyle!

To earn extra income on the Internet does not require you to buy any of the over-offered "Get Rich Quick" programs that are out there. No, it is simply a matter of using the knowledge that you have already amassed in your life to help others in search of information on your favorite topic.

You can setup a site on the Internet free of charge (except for $6 for a name and about $4 for a hosting account) and we can show you exactly how to do this. Then you write articles on your favorite topic (like this one), which contain links back to your website. There you provide information on your topic to those interested and collect a small fee.

Once you write the articles (and similarly, some 'blog' entries), all you have to do is sit back and watch the traffic stream to your website. The more articles and blogs that you write (which costs nothing but your time), the more traffic you get and the more income you receive.

In the beginning, I only earned a few dollars per day, which does not sound like much! Just $10 per day, though means about $300 per month of income. Who could not use an extra $300 a month?

The more accustomed you become to writing articles, the easier they become and the more traffic that is produced. It is really important, therefore, that you write about a topic that you are particularly interested in. If you just pick a subject at random, you will soon exhaust your enthusiasm for writing another article. You will also run out of fresh article ideas, too!

By the time most people reach the age of thinking about retirement, they have a lot of life, career, and family experiences. The sum total of what you learned so far in life constitutes the knowledge that you have. We all have some particular topic about which we are well versed and/or passionate. Actually, the more obscure and refined your topic is, the better off your internet experience will be.

Why not take inventory of your knowledge and skills and do some Google searches on your topic to find out how much interest there is out there. I would bet that you will be pleasantly surprised to find out just how many people are searching for information on your specialty topic every day.

Why not begin now to put together a means to fulfill the needs of others for information that you already know? It will only cost you a little time and effort.

Resources:Don Seibert is a retired business executive who, as an Expert Author, writes timely articles on many issues concerning sources of retirement income Having retired three times, he now is the host of http://www.RetireToEasyStreet.com Visit the site for a complete discussion of Retirement Income Options Article Source: http://EzineArticles.com/?expert=Don_Seibert

Workmens Compensation Insurance and Your Business Future

By Lance Winslow

 

If you are a small business employer and even have only one employee then you better have workmen's compensation insurance, if you don't in some places you can be thrown in jail. Employees can get hurt anytime and you just never know what can happen. If they are on their way to work or on there way home your small business might be liable for some or all of their lost wages if they are injured. This is my view of the situation.

Even with all the CYA's in the world and manuals on ergonomics and special procedures this does not alleviate your responsibility. You might have a very safe work space, but as they say; things happen. Unfortunately, we found in our company that the Workmen's Compensation Insurances rates have increased dramatically. We believe this is from all the lawsuits and over regulation of the insurance industry. Now there are fewer companies that provide this insurance. This appears to have driven the cost up substantially.

Nevertheless, not having Workmen's Compensation Insurance, we know is not an option. We found that by checking around and finding the best rates we were able to save a lot of money each year on premiums. But we also found that you need to make sure you know what is covered and understand those policies completely. This is why we found an expert to help us.

I certainly hope this article is of interest and that is has propelled thought. The goal is simple; to help you in your quest to be the best in 2007. I thank you for reading my many articles on diverse subjects, which interest you.

"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/. Lance is a guest writer for Our Spokane Magazine in Spokane, Washington Article Source: http://EzineArticles.com/?expert=Lance_Winslow

Baby Boomers Hot Business Startups

By Sylvia Talo

 

Get ready world, here comes the next huge wave of business start-ups that is fully expected to exceed the impact of the dot.com phenomenon! Twenty-somethings move over. Baby Boomers here we come!

A significant and sizable portion of our population, born between 1946 and 1966, is getting ready to take a serious look at their impending retirements. What many are seeing is a less than promising future. The question of whether or not there will be enough social security funds to support this very large group of Americans continues. The idea of being able to live out their golden years under the safety net of social security is longer a sure thing. With such a gloomy outlook on their retirement years, Baby Boomers and other retirees are wisely taking a serious look at starting their own small businesses as a supplement or replacement (if need be) to social security funds.

While there may be a good number of Baby Boomers that planned well ahead and dutifully set up their 401k's, there are a great many that will not be able to retire at the traditional age of 65 (much less retire early). They may have lost a significant chunk of their funds with the dot.com bust or after 9/11 or due to mega corporations "dissolving" their pension plans.

As such, Baby Boomers will be looking within and opting to start their own small businesses to make up for their less than adequate retirement accounts.

No doubt many Boomers will want to continue working well past 65 anyway. They will be healthier and likely to live longer than past generations. They will have options available to them that previous retirees never had. They will be able to create their own Internet businesses and work from home.

Corporate downsizing has produced a great number of older workers with tremendous experience being forced to take lower paying jobs. As that group of employees leaves the work force, those same companies now filled with younger, less experienced, less motivated employees, will be looking to outsource and find consultants to fill the gap. That is where Boomers will find another niche to fill.

If you are a Baby Boomer, or already a retiree, now is the perfect time to start planning and creating your own small business. Your options are numerous. But with an Internet business your start up costs are minimal and you can start such a business "on the side". You can be growing your new business while still employed.

If you are leaning towards a brick and mortar type business, be aware that the costs can be substantial. If you have funds available or can obtain funding, then more power to you. Be careful not to jump into business ownership before you are fully prepared. Write your business plan so you know exactly what you are facing. If you find that you will need a loan to supplement your own funds then the business plan will be an absolute necessity.

Is this idea of starting your own small business after you leave the workforce new to you? Is the idea an exciting and promising option? Then you will want to learn more and look into the various types of businesses you might find interesting and viable. Where will you find more information? See the resource box or section that accompanies this article. Check out the website where you will find ideas and sources to get you on the road to a smoother and more comfortable retirement.

Sylvia Talo has authored the step-by-step manual, "You Can Write Your Own Successful Business Plan", now featured in the One Stop Business Start Up Kit. Visit her web site, http://SmallBusinessStartup.BIZ a One Stop site with resources and ideas to help you start your own small business. Article Source: http://EzineArticles.com/?expert=Sylvia_Talo

Invest Time Not Money for Extra Retirement Income

By Don Seibert 

 

We have rightfully become very skeptical of the many offers that we see daily on how you can make a fortune on the Internet. Because of this skepticism, though, many people overlook some very good, legitimate and very low cost ways to earn some extra cash for their retirement!

That is right. There are ways that you can earn extra income without having to buy somebody's tapes, CD's, home study course or book. It is all about using the knowledge that you have of a particular subject (the more obscure the better) and teaching others who want to know more. It is called the Information business!

When you were a kid, did you ever have a lemonade or kool-aid stand in your neighborhood? You know how it works then. You sell lemonade for 5 cents a cup and when you run out, you have to get more lemons to make more, hopefully at a cost that is less than your sales. The problem with this picture was always that it became costly and time consuming to make more lemonade and there was a finite limit to the number of adults coming down your street with an extra nickel.

Now, you can have your own "Information Stand" on the Internet where you sell information on a specific topic. The good thing about this scenario is that you never run out of information - you can re-use what you have! Also, in the process of answering questions, you may discover more and better information on the subject, increasing your expertise and reputation and making future sales more valuable! Unlike the kid, on your internet street there is never a shortage of people searching for your information!

This is not a 'Get Rich Quick' scheme where you might expect to 'make a million' overnight and this program does involve some effort on your part. The good news is that, for an investment of less than $10, you can try it out and see if it is for you. Now, who does not have 10 bucks around to give this plan a try?

This is about using the vast resources of the Internet to your advantage. Each day, there are million and millions of searches done on Google, Yahoo and MSN. Some large numbers of those searches are queries for the topic of your passion. All you have to do is to position yourself to respond to some of those searches and to provide them with the missing information for a small fee.

Positioning yourself like this seems like a very daunting task, but it need not be. Yes, there are people on the Internet who would like to sell you a ready made programs for this purpose (and at a cost), but there are several tools and templates available free on the Internet to build such a facility for yourself. It just takes your time and patience (not your money!).

To make this work, you will need to download some free software and you will have to buy a domain name for about $6. All of the rest of the things that you will need are available on a free trial of $1 trial basis. Thus, you will have 30 days for you to see if this works for you before you have to invest another penny!

If you feel that your internet skills are inadequate for this task, you may be quite surprised! Give it a try before you give up. Or, perhaps you have a child or grandchild who is more into the Internet. How about asking them for their assistance? I would bet that they would be pleased to help you earn some extra retirement income with a little of their time and effort. No matter how you accomplish it, please give it a try. You can go to my website for more information and tutorials on how to set up your "Information Stand"!

Resources: Don Seibert is a retired business executive who, as an Expert Author, writes timely articles on many issues concerning sources of retirement income . Having retired three times, he now is the host of http://www.RetireToEasyStreet.com Visit the site for a complete discussion of Retirement Income Options Article Source: http://EzineArticles.com/?expert=Don_Seibert

Retirement Income Needs

By Steve B

 

Having a retirement income calculator or planner is about to become as useless as a screen door on a submarine. I say that if you are going to be relying on your Social Security income to support you. Allow me to show you a plan for taking care of your retirement income needs. This plan will show you where the money has flowed, is flowing, and will be flowing for some time to come. I will make it crystal clear what you need to do.

The machine started the industrial revolution, and the machine also ended it. With the invention of the cotton gin, and things like Henry Ford's assembly line, the machine took "front and center" for those who made the money after their invention gained acceptance. The United States was the manufacturing powerhouse during the initiation and growth phase of the industrial revolution. However, with the invention of the computer chip, the machine also created a new age; the information age. This current new age made the old one obsolete. As the information age took hold, the result is that a computer programmer became the richest man in the country. It is still that way today.

Where do you fit into this? Have you thought about the comptroller of the United States saying, "Our government has made a whole lot of promises in the long-term that it cannot possibly keep"? If you missed that grim announcement, it is not too late to do something. The time is nearly here to make a whirlwind decision on your retirement plan. It is no longer something to avoid. You must have a retirement investment that will succeed. A huge benefit to my simple method is it can also be passed on to your children. Is that possible? You bet it is.

The thing I will make crystal clear is that you must get involved with the information age for a successful retirement plan. It is the only way to be prepared if you are one of those people who understand that the social security model will probably fail. Even if you still own a business making widgets ( or whatever ) in the United States, you are still partially living in the old industrial age. Soon your widget will be made cheaper and better somewhere other than in the United States. Your successful retirement strategy will be realized when you step completely into the information age.

How do you do that? Virtual real estate, like offline real estate is the answer. If you think owning a motel would be a powerful income source, imagine if you had ten motels. You can own your own "virtual motel" by starting your own successful web site, and have people from all over the world paying you to use it. Want another "virtual motel"? Then repeat what you did with the first one. You can easily provide for your own retirement investment portfolio by using the information age to your own advantage. You can do this and automate it using computers so that your retirement years are not spent "working".

I tell people to get on the "information age train". Even though this train has already left the station, there is time to catch up to it. In fact it is imperative to catch up to it. The comptroller would probably tell you the same as I have here. Do not look to the government to provide for your retirement income needs, join the information age and have a source of income flowing automatically into your life using the power of the web.

Dont miss my new article on: Retirement Income Needs Article Source: http://EzineArticles.com/?expert=Steve_B

Are You A Baby Boomer Not Willing To Think About Retirement?

By Linda Waters

 

When the baby boomers were young, retirement seemed like something so far off that it was tough to imagine it. So many changes were ocurring in the world and there were so many other issues that were more pressing at the time that the thought of retirement did not seem like it was important. So why think about it? Civil rights and nuclear war were the important issues of the times.

Fast forward a few decades and many baby boomers have found themselves in an awkward situation. They have become the person they did not want to trust when they were younger. The boomers are close to retirement but many are not ready to take the leap, or more importantly, not willing to leave the working force in the near future. There could be many reasons why some aging baby boomers have no plans for retirement.

A job or a profession to some is what makes the person a member of the community. It makes the person feel important for the years of service given and the number of accomplishments one has achieved. These are things that some people hold on to which makes retirement hard to accept.

The psychological impact makes it hard for someone who has lived in a fast paced world to adjust to a life that is at a more leisurely pace. How many times have you heard that a person has died just a few months after retirement? The shift in pace may be the emotional trauma that killed them.

Another reason is perhaps the person who is still employed is just waiting for the right moment or package that the company will give out to its employees. Such issues are whether or not the retirement package that is being offered is higher than the projected earnings if one stays employed or if the retirement fund can be used immediately once it has been given. In other words, there are just to many factors to consider that it is easier and less scary to keep working.

Some aging baby boomers can get more just waiting for the normal retirement age than accepting the company's early retirement plan. Instead of saving, they could end up forfeiting and miss out on opportunities to make additional contributions to the plan.

The aging baby boomers who don't want to retire yet are also concerned if the offer given by the company includes post-retirement medical insurance. This is because Medicare doesn't start until one has reached the age of 65 and the cost of getting private insurance is getting more and more expensive. Most are just not able to afford the insurance that they would need.

The most important reason that will make some aging baby boomers stay on the job is that regardless of age, they strongly believe that they can contribute more to society being at a job then in retirement.

The idea of retiring in the next decade is a scary topic for many baby boomers. See how others are facing the future by throwing out the old ideas and making their own blueprints for a successful retirement. Go to => http://www.SecondActLiving.com Article Source: http://EzineArticles.com/?expert=Linda_Waters

 

Financing Retirement with Life Settlements

By Caitlina Fuller 

 

Many baby boomers are worried about retirement and how they will possibly be able to afford this luxury. In fact, many baby boomers are considering working until they are no longer physically able to work. This is certainly not the relaxing retirement filled with travel and grandkids like many imagined, but it is the only option many baby boomers see because they are not prepared for retirement. However, there is one excellent option to help individuals prepare for retirement even if they believe they are not financially able to.

Believe it or not, but seniors can take advantage of something called life insurance settlements to finance their retirement. This goes against what many seniors believe, but in the face of poverty and the final years spent on welfare many seniors decide that it really is a pretty good option. Basically, life settlements occur when a senior chooses to sell their life insurance policy for a price lower than the face value, but still large enough to take care of them. By cashing in their life insurance policies via a senior life settlement these individuals are securing their futures. This is the case because seniors will receive a cash payment for their life insurance policy. It is not the face value of the policy, but it is still a pretty good chunk of it. Certainly, enough to help individuals prepare for their retirements and pay for their own food, housing, medical expenses, and even travel!

Many seniors don't like the idea of life settlements because they want to leave money to their families when they die. However, no family would want to see their mother, father, or grandparent suffer throughout their final years financially when there is a way to avoid it. Not to mention, these individuals can be frugal with their money and still manage to save enough for their families after they are gone.

If you are worried about your financial future and most specifically your retirement then you must consider a life settlement offer if it is available to you. Your fears will be eliminated and you can really enjoy your retirement years like you had always hoped you would. Remember, however, that a life settlement is not the same as cashing in your policy with your insurance company. You will get a much larger sum through a life settlement so focus on this and even have a professional help you get the largest sum for your money.

Caitlina Fuller is a freelance writer. Seniors can take advantage of something called life insurance settlements to finance their retirement. This goes against what many seniors believe, but in the face of poverty and the final years spent on welfare many seniors decide that it really is a pretty good option. Basically, life settlements occur when a senior chooses to sell their life insurance policy for a price lower than the face value, but still large enough to take care of them. Article Source: http://EzineArticles.com/?expert=Caitlina_Fuller

Retire Early - To What? Harness Your Interests and Build an Online Business

By Michael Nette Taylor

 

Since I took early retirement, going full-time into the online marketing arena, I've used six different website hosting companies. They all had their attractions but once I figured out what I really needed for my business the choice was clear.

I started out with a traditional business model which had an online presence and was preparing to take its products to the main street. As a franchisee I had very limited control over the site's content, which was alright with me until the nature of the business changed and I learned a bit about website design and started to want to make my own mark.

That business franchise ended up going nowhere in my part of the world due to some technical difficulties and rather than stay with the company and engage in their new services, I made the decision to strike out on my own as a consultant specializing in the network marketing industry.

This required that I start my own website and that I understand how to purchase multiple domains and have them redirect to my various affiliate sites. The latter was fairly straight forward, and when it came to building my own site I was ready for that too, especially with the help of a friendly WISIWYG editor or FrontPage.

I could create a landing page but what about the traffic? I needed to learn about the importance of creating quality content to attract my visitors in a natural way if I wanted - needed - to avoid high cost advertising. Then I needed to slow down and undertake a step by step process before expecting sales to roll in; to build trust by sharing quality information.

Luckily I found one hosting company that provided more than any other I'd ever heard of or used before. In fact their promise was "find a topic you love, write about it and we'll help you make money online."

No wonder Ken Evoy and his many affiliates have so many raving fans, with 62% of SBI! sites ranking within the top 3% of ALL Web sites on the Internet. That means people like me are getting quality traffic and learning how to retire early. I'm in!

Michael Taylor, a retired teacher, is a consultant and trainer to network marketers and local businesses. Visit SiteBuildIt Here Article Source: http://EzineArticles.com/?expert=Michael_Nette_Taylor

Baby Boomers Over 50 - Are You Part Of The Sandwich Generation Too?

By Marilyn Katz 

 

Are you part of the "sandwich" generation? Have you been squeezed by new demands upon your time and emotional resources so that sometimes it does not feel as if you have time for yourself? Many of us baby boomers waited to have children until we were older because we got an education completed and then went on to establish ourselves in a workplace. So we may find ourselves, even over 50, with kids at home. I cannot tell you how many times somebody has asked me if I was my youngest child's grandmother! It used to offend me, but then I though about it, and realized that I really was old enough to be his grandmother.

So we find ourselves, a bit older and maybe more tired, dealing with adolescents and teenagers, and maybe even younger children! Next, our parents are living longer, and we have very happy about that! However, as our parents get older they also seem to need us more. All of a sudden, the parents we leaned on, have turned the tables, and now they need to lean on us more. The people we consulted are consulting us. The parents who used to drive us around when we were younger are now asking us for rides.

And sometimes, as if we did not already have enough to feel guilty about, one generation resents the time we spend with the other! Grandpa does not want to give up center stage to our teenage son. Grandma wants us to help her with finances, and not spend time talking with little Suzy about her latest fashion coup! On the other hand, the kid's eyes glaze over when we insist that they spend time with the older folks. How do we assure everybody that they are the apple of our eye, while still holding onto our own sanity?

Well, the first thing you need to do is give yourself a break. If you cannot be objective and add a little humor to the situation, you are certainly not going to satisfy anybody, least of all yourself. Let everybody know how you see the situation, and that you are doing the best you can. Try to combine activities too. If you need to take Suzy to the mall, why not bring Grandma along? If little Mark has a band concert, invite Grandpa. He will probably enjoy it, and be proud to be included.

If you need to prepare meals, look for some convenience in the grocery store. Honestly, I have no problem buying a pre-cooked roast in the deli section any more. That, plus a bagged salad, makes a great meal! When you consider meat shrinkage, spoiled food, and the time you spend making your own famous pot roast, you really are not spending that much more money.

And last, of course, give yourself some time for a favorite activity or a night out with a spouse or friends. Let everybody know that you need your own time too. I think you'll find that your kids, and your parents, are not really that selfish. They just want to know that you love them, and that you will be there when they really need you. If they are secure of that, they are sure to cut you some slack.

Join us at the Over 50 Website to explore more issues we face as baby boomers! Explore Over 50 Dating, Finances, Jobs, and Family Life. Article Source: http://EzineArticles.com/?expert=Marilyn_Katz

Selecting a Niche for Earning Supplemental Retirement Income

By Don Seibert 

 

Generally speaking, selecting a niche in which to earn retirement income is pretty simple. You need to find a topic that:

1. Has enough people interested to make the effort worthwhile.

2. Those people must be reachable. And,

3. Those people must be willing to spend money to solve their problem or answer their question.

Those are relatively easy requirements to meet. There are many ways on the internet that you can search to determine the relative size of your niche. By doing simple Google or Yahoo searches and looking at the number of search results, you can locate the census of people in a niche and then if you search Google by entering the name of your niche of interest followed by a plus sign (+) and the word "Forum", you can locate discussion forums on the internet related to that topic. For example, if you wanted to find the forums for birdwatchers, you would search on "Birdwatchers + forum", you would quickly find more than 170,000 links for forums related to bird watching.

Do not be discouraged by the fact that there might be a lot of people already in your niche. This can be a very good thing. A large number would indicate that the niche at least has the first 2 attributes of a good niche! You then have to search deeper to determine if those in the niche are willing to spend money.

Usually, if the people in a niche can solve a big problem over the internet or if being in that niche can earn them money, then requirement number 3 may also be met. You have to ask yourself how important it is for the targeted folks to solve their problem or have their question answered.

Overriding all of these requirements, though, is for you to honestly ask yourself how happy you will be working in the niche to solve problems of others. Once you proceed down a path to select a niche, will you get bored or unhappy having to deal with the problems of others in the niche? If the niche involves a deeply held belief of yours or you are really passionate about the topic, you will find that you will be much more satisfied as a result of your efforts. There is hardly anything worse than having to participate on a daily basis in something that you don't really care about.

A wise man once said "If you can find something to do that you really enjoy doing, you will never have to work again!" As part of the 'Over 50' crowd, none of us wants to be tied down to something that we do not really enjoy - regardless of the income. After all, we would like the income from this endeavor to last quite some time and, therefore, the subject of our efforts must be something that you enjoy talking, writing, and blogging about!

There are many resources on the Internet to help you in narrowing down your niche selection. Most importantly, though, listen to your heart and settle in on a topic that you really love.

Resources:Don Seibert is a retired business executive who, as an Expert Author, writes timely articles on many issues concerning sources of retirement income Having retired three times, he now is the host of http://www.RetireToEasyStreet.com Visit the site for a complete discussion of Retirement Income Options Article Source: http://EzineArticles.com/?expert=Don_Seibert

Many Sources of Extra Retirement Income

By Don Seibert 

 

If you are like most Baby Boomers, 'Over 50', and pre-retirement folks, you are rightfully concerned about having enough income in your retirement years to allow you and your spouse to relax and enjoy your well earned retirement years. Like me, you have dreamed of the time when you no longer have to do the office commute and put up with business politics just to earn a living.

No, we want better than that! I decided long ago that, given the opportunity, I would enjoy being the master of my own life and not having to do the things that I have had to do my entire working career. I will probably never quit 'working' entirely, just having to work. But I will do so on my terms!

All of the financial pressures that come from my lack of a traditional pension, the eventual insolvency of the Social Security system, the housing market, oil dependency, the falling dollar, etc, combine to have me worrying whether or not I have saved enough over the years.

Since I have already 'pulled the plug' and begun to draw my Social Security at age 63, I'm in for the long haul. I really don't want to go to a traditional job to supplement my retirement income, but neither do I want to end up broke and homeless 20 years from now.

For that reason, as well as my interest in having something productive to do, I began about a year ago to explore the possibilities of earning enough income through various internet activities to dramatically reduce the amount of cash that I need to take from my investments to live on. If I can just leave my savings grow, essentially untouched, for a few years, then my confidence will be raised a whole lot.

I have done several things to earn internet income. I have written a book (an e book) that I sell on the internet. I have setup websites on topics of interest, such as power boating. Those sites host some Google ads which pay me a fee every time someone clicks on them. I have bought and sold items on eBay and produced videos and CD's for sale. There are just so very many ways to earn some extra cash.

One fun thing about it is that these things continue to earn money even when I'm playing golf or sleeping, so my time is still my own. I am not tied down and we are free to travel at will - and the cash will just keep coming in!

While my projects have not produced much more than $2,000 a month so far, I am not disappointed. I am challenged to always seek to improve on this, and I am confident that it will. While everybody wants more money, I am worried that if I am too successful, it will consume too much of my time to enjoy life! That would be a tragedy.

In talking to other retirees (and to retiree wannabees), many of them want to know how I am doing this. For that reason, I have created a site for people to come and to learn the techniques and skills that it takes to accomplish this cash flow goal. We even have a 'Retirement Income Forum' where like minded people can discuss their successes and impediments and get the real advice and input of others in the same boat. I specifically avoid most of the internet marketing 'gurus' and their overpriced products and seminars.

There are just lots of ways to earn extra retirement income on the internet and the really good news is that there is plenty for everybody! The web is growing and maturing and the population of users on the net grows daily. You need to get online and get your share and, at the same time, secure some great sources of supplemental retirement income!

Resources: Don Seibert is a retired business executive who, as an Expert Author, writes timely articles on many issues concerning sources of retirement income Having retired three times, he now is the host of http://www.RetireToEasyStreet.com Visit the site for a complete discussion of Retirement Income Options Article Source: http://EzineArticles.com/?expert=Don_Seibert

Life After Retirement

By Jared Lee

 

Being retired doesn't mean your life is over. On the contrary, retirement is a beginning of a life where one can choose what he wants to do. While we work all our life to earn a living, be well-placed in life, and secure our future, post retirement phase of our life provides us with that respite, when we can relive our life in the way we always wanted to live but somehow missed living it that way owing to our responsibilities and job pressure.

How can a retiree afford to enjoy his life after retirement doing all the fun things that he has yearned to do all his life and yet maintain a safe and secure life? There are several creative options available but you would have to reinvent yourself, and explore all available possibilities to find which of these options suit your temperament and liking. A list of options is provided below.

If you have always dreamed of travelling, why not go on a world adventure tour? If you are low on your finances, you might just cycle around the country, or cruise the highways and byways. If you are from a medical background and love to travel, then you can join the efforts of those who are committed to bringing better medical facilities to less fortunate countries and people.

You might volunteer your time and talents to help other less fortunate people. For instance, if you are a retired businessman, you can think of serving as a mentor or guide to younger folks and help them to become successful entrepreneurs. You can share your hard-earned lessons of business life and help to pave a smooth path for those who are struggling.

Retired teachers can teach a class of deserving students who cannot afford to take costly tuitions. Similarly, a computer savvy person, although not a software/hardware professional, can teach computer operations to others who are desperate to learn computers.

If you are not interested in any of these activities, you can plan to pursue your hobby or learn new skills such as painting, writing, gardening, sewing, or learning any other new thing that you have always been interested in.

Check Out More Articles : Alzheimer's companion cards - The baby boomers and the health industry, Aging Dementia Personality Change , Intellectual Disability And Aging, Elderly mental health best practices - American arthritis foundation elderly exercise . Article Source: http://EzineArticles.com/?expert=Jared_Lee

The Baby Boomers Golden Age?

By Paul Dangheart

 

Are you 50 years of age or older? Are you, or have you ever been employed by a company, that indicated that if you stayed with them that you could retire with full benefits to include medical insurance?

How close are you to being one paycheck away from hard times?

Is it possible that you can even Google your situation to come with an answer to your money problems?

Are you like more than a million layed off workers and retires who are a casualty of corporate restricting and Chapter 11 Bankruptcy.

Will you be working long into your Golden Years?

Correspondent Hedrick Smith explored the changing world of retirement and discovered that corporations in America are dumping their old-fashioned pensions (retirement systems). It was said that a lot of people 50 years of age, and above, are really going to have a very nasty surprise in about the next 10 years. If you think about it, the Word Retirement, will just be a work not an Action. How many of you have seen somebody retirement age working at McDonald's or Burger King? Now, do you think their retirement goals are to super size fries. They are there because they have to not because they want to be there. It was also said "I think this is a crisis in the making. I think 10 to 15 years from now; people who approach their early 60s are simply not going to have enough money to retire.

As boomers approach retirement, many are choosing to continue working. For men, it's often because they want to - but for an increasing number of women in this country, it's a "have to." They simply don't have the means to retire. And because women tend to live longer and earn less, it's a critical issue. One lady (to be kept nameless) is spending her golden years in Golden Colorado but is still searching for the gold. "It's not the retirement I pictured," She says.

Instead of enjoying time outdoors, she's inside working in a clothing store 50 hours a week. She can't afford to retire: Her savings aren't enough, she's divorced and the years she took off to raise children reduced her Social Security. "Most of my friends plan on working until we're at least 70, because it's just not there," She says. It's a realization keeping millions of women on the job longer.

Since 1980, the number of workingwomen over 65 has increased almost 40 percent while men's participation hasn't changed.

"Baby Boomers will be facing a very different kind of retirement life than their parents. The research shows that they might be able to keep the same amount of income, you know, relative to what they earned, so the middle class Baby Boomer may also maintain their middle class lifestyle into retirement. But there's one big difference. The only way that they do it is if they work. The only increasing source of income to retirees is from work.

When it comes to Today's Retirement you're on Your Own a Quota from Fortune Magazine. "Old-style retirement won't work anymore". 20 years ago, 80% of workers at medium and large US companies were covered by defined-benefit pension plans that promised retirees a monthly check. By 1997, the share had dropped to 50%. The latest information is that just 21% of workers at all private companies are covered by defined-benefit plans. Mom and Dad get help; you're pretty much on your own. You can't count on corporate pension or even Social security to be there.

You can cheer up because things are going to change. As of November 7, 2007; the price of Crude Oil was $96.37 per barrel. By the end of the year 2007 the price of the following will be going up. Home Heating Oil up 24%, Home Electric up 16%, Gasoline up 15%, and Natural Gas up 6%.

Sometime has just got to change. By the way where is this Golden Age!

Paul Dangheart. You can learn more by visiting my blog. The Baby Boomers Golden Age - http://www.learnanew.com Article Source: http://EzineArticles.com/?expert=Paul_Dangheart

Retirement Planning Has Become Contingency Planning For Baby Boomers

By David Skill

 

Baby boomers are justified in longing for the 'good ole' days when it comes to retirement planning. Our parents path to retiring was so defined compared to ours it is hard to understand if any planning had to precede the retirement.

Contingency planning has become as important as any aspect of retirement planning with the exception of wealth creation. And if you do not plan for the contingencies you really have no idea how much wealth needs to be created.

Why is there such a difference between our retirement (I am a baby boomer) and our parents?

Healthcare- We might as well start with the biggest contingency of all. It was common for our parent's employers to offer healthcare insurance in retirement for its former employees. Health insurance and healthcare was a more manageable expense a generation ago.

Today it has become so expensive most employers do not offer healthcare insurance for retirees. Since employers are subsidizing 70-80% of employee healthcare costs while baby boomers work, it is likely that only about 3-4% of your expenses are healthcare related. When people retire and do not enjoy the subsidies any longer their healthcare expenses rise to 12-15% of their living expenses.

Planning for this expense might keep you working a few more years. Ignoring it could cause you to fall short of money in retirement. Medicare will help, but studies show a couple age 65 to 80 should expect to pay $232,000 in healthcare expenses that Medicare does not cover. In addition healthcare expenses are rising three times faster than inflation so expect this variable to get worse before it gets better.

Pensions vs. 401K's- Pensions were very popular employer offerings in our parent's generation. Basically pensions are defined benefit plans that gave the employee an accurate estimate of how much monthly income (or lump sum dollars) would be available when the employee retired.

The prohibitive corporate expense of offering pensions has caused them to go the way of the dinosaur and be replaced by 401K's or similar retirement plans. 401K's have nice tax advantages but the burden of creating wealth has fallen on the employee and the results are not as predictable. On a positive note the results could be better with savvy investing but the uncertainty creates another contingency to plan for.

Social Security- Our parents had no worries about Social Security being there when they retired. Even though it will most likely be there for us (or pity the politicians that take it away), it will probably be less money than we are currently told we will get.

In 1930 there were 30 workers supporting every retiree in America. In 2040 there will only be 1.1 workers for every retiree, so changes are likely. In the past Social Security has funded 25-33% of retiree's expenses. That range will probably decrease for us.

Life Expectancy- The good news is we are living longer than our parents. However we have to fund the extra years of our lives which is another contingency to account for in our retirement plan.

Alright, our parents enjoyed a more predictable retirement. Pensions and Social Security provided predictable income streams. Employer provided healthcare for retirees and younger mortality rates made expenses more predictable. Just because our parents retirement was more predictable does not mean ours cannot be better. A well managed 401K and IRA can yield much higher streams of income than pensions.

The important point for baby boomers is to start saving and investing today if you are not already. Also put together a retirement plan that accounts for the above contingencies as well as inflation and major expenses. That is the only way you will know how much wealth it takes to retire. If you do it right you will most likely enjoy a very comfortable retirement... Good Luck

David Skill, a 'Chartered Retirement Planning Counselor' has created an easy retirement system that enables conscientious baby boomers to determine how much money they need to retire. David asks all the vital questions, uses common language and plenty of examples so the participant builds confidence their money will last through retirement and they will not burden their children. Check out >>>>>>>>> http://babyboomerseasyretirement.com/ Article Source: http://EzineArticles.com/?expert=David_Skill

Phased Retirement - Why It's The Smart Retirees Choice

By Dean Caporella 

 

One of the drawbacks with retirement is not having enough capital to sustain you in your golden years. It's a real issue which many don't seem to understand until it's almost too late.

Phased retirement has emerged as a real answer to this ongoing problem especially for people with hard to replace skills in the work force. By hard to replace skills, we mean having developed an expertise in a particular area of your profession which an employer will find difficult to replace in a hurry. This puts you in a good position. How? Well, if your expertise is going to be missed, then the chances you'll be asked to stay on are strong.

Why Would You Want To work In Retirement?

One of the biggest issues for American retirees is the on going cost of maintaining a lifestyle they've become accustomed to. When the income stops, so do some of the perks. This is especially so for those who have been careless with their retirement planning.

Healthcare costs are just about the biggest issue and for people in their retirement years, as health care is usually a necessity later in life.

Phased retirement is basically an arrangement between you and your employer which will see you able to work well past retirement age. However, it more than likely won't be in a full time capacity but is seen as a win-win situation for both you and your employer. At the moment, there doesn't seem to be anything set in concrete about phased retirement which is the official guide so to speak.

These practices are a little diverse at the present time and while some industries are unofficially practicing it, the real crunch will come when the baby boomer generation starts to exit the work force from around 2010 and beyond.

Self employed people can also look into PR arrangements. If you have a business and plan to sell it at retirement age why not consider staying on in a part time capacity if an arrangement can be struck with the new owner. This is an appealing option for those who want to continue adding some meaning and purpose to their lives.

Want solutions to your retirement issues? Grab the report Phased Retirement and find out what you can do to keep the wolves from your door in retirement. Join the smart retirees revolution today! Article Source: http://EzineArticles.com/?expert=Dean_Caporella

Expected Retirement Income Sources Can be Undependable

By Don Seibert

 

Good retirement planning used to be an easy, 3 step process:

1. Save a big chunk of cash
2. Retire from the rat race
3. Don't outlive your big chunk of cash

Unfortunately, the whole game has now changed. It was possible to save a big chunk of cash when we were accustomed to living on less than we earn and depositing the remainder into a retirement savings plan or 401(k) or Keogh plan, etc.

Over the past couple of decades, we have been conditioned to spend more than we earn and put the balance on credit cards and home equity loans.

This subtle but dramatic change in our mindset has resulting in several problems related to our retirement planning:

1. We typically don't save enough to have a 'big chunk' at retirement time. In fact, almost 1/3 of Americans have less than $25,000 in assets by the time they are 60 years of age! That means these people think that they will be able to live on their Social Security check during their retirement years.
2. Due to this lack of a 'Big Chunk', we often have to delay our retirement dates.
3. When we finally do retire, we are so conditioned to living beyond our means that we are unable to shift to a 'spend less than we make' mentality and we will end up destitute within a few short years.

Avoiding this 'Retirement Crunch' requires only a few, simple changes on our mindset at the various stages of our lives.

First, while we are in the pre-retirement savings mode, we must learn to put our retirement savings first and then 'spend less than we have left'. This is the most difficult change to make. It probably will require some sacrifice on everybody's part and, like other significant changes, will require adoption of a whole new way of thinking and acting.

Unless we have been able to amass a 'REALLY Big Chunk' for retirement, we will necessarily have to develop a conservative mindset to preserve our 'Big Chunk' and to live within the limits of our Social Security and the income thrown off by our retirement savings. If we want to live at the same standard as in our pre-retirement, this is where we may have to look for income from other sources to supplement our retirement.

Typically, we won't require a full time income to provide this cash flow supplement. A part time job could fill the bill or perhaps we could develop a home based business in a niche that we love and/or feel passionate about. There are so many ways to generate a thousand or two per month to help up live, travel, and enjoy our retirement years.

The sooner in life that you can adjust your mindset to consider the future, the easier this transition will be. Please give some serious consideration of your individual situation and that of your family relative to your retirement. It is particularly important to have this discussion with your spouse and family members so that everybody is pulling in the same direction - toward a comfortable and happy retirement lifestyle.

Resources:Don Seibert is a retired business executive who, as an Expert Author, writes timely articles on many issues concerning sources of retirement income . Having retired three times, he now is the host of http://www.RetireToEasyStreet.com Visit the site for a complete discussion of Retirement Income Options Article Source: http://EzineArticles.com/?expert=Don_Seibert

Baby Boomer Issues - Health, Money And Retirement

By Dan Skriver

 

As the Baby Boomer generation continues to grow older, their primary concerns have shifted to their health, money and retirement. The days of idly wondering where their next vacation should be and whether their bonus check will be as much as they deserve are quietly passing. Today, Baby Boomer issues are mostly about concerns with maintaining their dwindling health and having enough money to live comfortably through their twilight years.

Health Concerns For Baby Boomers

As people grow older, they often experience problems with their health. Their bodies grow more fragile and susceptible to diseases and bacteria. In addition, many people 50 years of age and older are reporting health problems that were not experienced by people in their same age group long ago.

This problem is exacerbated by rising health care costs. As the Boomer generation begins to require more medical care, the cost of that medical care continues to increase. Health issues and their ability to cope with them and find the proper medical support is a major concern for Baby Boomers.

Money And Retirement Concerns For Baby Boomers

Along with rising health care costs, Baby Boomers also worry about money and retirement. During the last several years of their careers before retiring, people usually enjoy salaries and bonuses that are larger than at any other point in their career. As a result, money is rarely a major concern.

However, many people fail to save that money. Instead, they spend it on vacations, their families and in the pursuit of living fun and fulfilling lives. This can lead to a rude awakening when they retire. Because they have not saved much money during their career, a lot of people discover that they do not have enough money to live comfortably during their retirement years.

When they retire, they no longer earn a salary. They no longer receive bonus checks. Instead, they are forced to live off the income that can be generated by the investments they have made throughout their lives. Unfortunately, many have not invested any money that can generate this income.

Other Baby Boomer issues complicate this money problem. People live longer lives today. When a Baby Boomer retires, he can expect to live many years in retirement. In the past, a 65-year old man could expect to live approximately 10 years in retirement before passing away. The financial requirements of living comfortably for these 10 years were manageable for most people.

Today, financial planners use a life expectancy of 90 to 95 years. That is, when a person retires at 65 years of age, he can expect to live up to 30 years in retirement. With dwindling health, rising health care costs and a lack of savings to generate a fixed income, the financial requirements of living 30 years in retirement are out of reach for many people.

These health, money and retirement concerns will grow as more of the Baby Boomer generation moves into retirement. Some will choose to work part-time jobs to keep active, stay healthy and generate supplemental income. Others will require the aid of family and friends. Still others may require more help than is available to them. As the Baby Boomer issues are beginning to emerge the Boomers will experience the issues that have been quietly gaining momentum for years, their health, money and retirement concerns will continue to grow.

To learn more about the Baby Boomers and the challenges they face, please go to http://www.helloboomers.com. Dan Skriver is a writer and editor for Hello Boomers Magazine, covering all subjects related to the Baby Boomer generation. Article Source: http://EzineArticles.com/?expert=Dan_Skriver

Boomer Women and the Changing Face of Retirement

By Phyllis Goldberg, Ph.D.

 

As a Baby Boomer, are you in agreement with the results of an American Association of Retired Persons' position paper - that the definition of work in retirement will be uniquely yours? Fully 80% of those who responded to the survey expect to continue some type of work after they reach retirement age.

Many women don't have control over the decision regarding changes in their work situation. They may be faced, unexpectedly, with the loss of a job or a business. Or, out of financial necessity, they have no choice but to continue supporting themselves and their families. In addition, the aftermath of 9/11 and the economic downturn drove women into the workforce who otherwise would have reduced their workload or retired completely.

The recent New Face of Work Survey, conducted by the Princeton Survey Research Associates International, found that the majority of their interviewees had an interest in post retirement careers that help others. Over 70% of the women in their 50's agreed that "It is very important that a job in retirement gives a sense of purpose," and allows them to stay involved with other people. The shift to a "working retirement" is definitely a baby boomer phenomenon.

Maxine, a school social worker, gradually realized that she had many options and the luxury of deciding how she wanted to spend the rest of her life. Two of her daughters were having babies at opposite ends of the continent. She wanted to be able to spend time with them after the births and to be with the grandchildren as they grew. Her third daughter also lived away and was embarking on a new career. All in all she intended to be more mobile and accessible to her family.

"After quitting my job of 30 years, I was often asked how I was enjoying my retirement. My reply was always: Are they talking to me, what's retirement?

Here's the reality. I spend a lot of time in airports. I stay in my pajamas until after 10:00 a.m. on many weekday mornings. I've become more actively involved in both urban renewal and heritage aspects of my city. I sit on a hospital board and am learning more about the healthcare system. I have become involved again in local politics and helped an old friend get elected. I've been to lunch with friends four times and knitted 1 1/2 baby sweaters.

I still have not met my husband for lunch in the middle of the week, cleaned out my drawers, put photos in albums, exercised regularly, mastered the computer or the game of bridge, read enough books, or browsed the many corners of the city that I promised myself I would.

So, where am I now? I'm still very much in the process of learning what retirement means to me."

Whether you're beginning to play with the idea of retirement or the gold watch presentation is just around the corner, here are some tips for you:

1. Approach this stage of life with humor. Maxine's rhetorical questions are examples of how not to take yourself too seriously. This is a major life change and yet a positive attitude will enhance your transition and the experiences that follow.

2. Be aware of your motivation. Being able to reflect and evaluate are valuable skills. Hone them, and discover what is driving you and what you want at this point in your life. Do you want to focus on volunteering, working in a different way, taking better care of your body, or spending more time with family and friends? Make choices for reasons that are right for you.

3. Much ado about all or nothing. Perhaps leaving your job, at this time, is not feasible for emotional or financial reasons. Look for ways to satisfy some of your unmet needs while still working. This is also good preparation for when that change does occur.

4. Go with the flow. Recognize and accept that any transition involves a process of change. Follow your dream yet don't automatically say no to anything. Be willing to open your heart and explore all possibilities.

5. Make a list but don't check it twice. We all have a myriad of wishes that have not come true because life sometimes has a way of intervening. Be patient with yourself and the situation if you have to change course. At this stage of life, anything can happen.

Now is a chance like never before. And balance can be the key to unlocking the "good life." How would you create your own sense of equilibrium? Think about being involved in community service and pleasuring yourself. Plan to have a purpose and to have fun. Find ways to be productive and playful. Enjoy the magic of the seesaw.

© 2007, Her Mentor Center

Phyllis Goldberg, Ph.D. & Rosemary Lichtman, Ph.D. are co-founders of http://www.HermentorCenter.com a website for midlife women and http://www.NourishingRelationships.Blogspot.com a blog for the Sandwich Generation. They are authors of a forthcoming book about Baby Boomers' family relationships and publish a free newsletter, Stepping Stones, through their website. As psychotherapists, they have over 40 years of collective private practice experience. Article Source: http://EzineArticles.com/?expert=Phyllis_Goldberg,_Ph.D.

Retirement Planning - Five Crucial Health Insurance Selection Tips For Baby Boomer's

By David Skill

 

Wow! Retirement is just around the corner. Although retirement activities and travel may be dominating your thoughts, it is critical to spend time evaluating your health insurance options.

Unless you are in a shrinking group of lucky workers that will have continuing coverage from your company here are five tips to consider as you look for an individual family plan.

Do You Qualify?

If you have been insured under a group plan during your working years you have been automatically accepted regardless of the health history of any family member. Qualifying for an individual plan is at the discretion of the insurance company after evaluating your family history.

What could keep you from qualifying?

Every insurance company has different criteria, but some common ones are:

Pre-Existing conditions such as a disease, mental health conditions and frequent use of prescription medications.

Could you qualify with conditions?

A waiver is a fairly common practice with insurance companies. For example: Let's say your wife is a cancer survivor. Instead of rejecting your application they could accept you and your wife but determine they will not cover any cancer claims from your wife. Another type of waiver is to make you wait six months before they will cover a certain ailment.

Another condition of approval could be to 'rate up' your family. For instance they may tell you your application is accepted but your premium will be 40% higher than the published rate because your frequent use of prescription drugs will drive up their costs.

Evaluate the insurance company and the plan.

The insurance company is evaluating you, and you need to evaluate them as well. Be sure you understand:

If your plan is community rated. If so, you can not be individually singled out for a rate increase. The insurance company has to increase everyone's rate that carries the same policy. I believe it is too risky to accept a policy that is not community rated.

What is the lifetime maximum? The insurance company will tell you the maximum amount of money they will pay on your policy. The minimum I would accept is $3 million dollars. Considering one bout with cancer could cost $600,000- $1 million, you need to make sure you are adequately covered over the long haul.

Is the insurance company solid? The highest rating for an insurance company is AAA. That is what I would demand. You have to be confident your company will be around to cover your claims.

How expensive is it?

Chances are your company is subsidizing 75% - 80% of your current plan. Add the amount you currently pay in premiums and out of pocket and multiply by four or five to get a ball park figure of what you would pay with an individual policy.

Once you find out the insurance companies condition of acceptance and you have evaluated their offering then you are ready to decide if it makes sense for your family. Good luck and do not go one day without insurance coverage. With healthcare costs today, it is too risky.

David Skill, a 'Chartered Retirement Planning Counselor' has created an easy retirement system that enables conscientious baby boomers to determine how much money they need to retire. David asks all the vital questions, uses common language and plenty of examples so the participant builds confidence their money will last through retirement and they will not burden their children. Check out http://babyboomerseasyretirement.com/ Article Source: http://EzineArticles.com/?expert=David_Skill

Your Retirement Income Is Unlimited

By Don Seibert

 

When planning for retirement in the future, most people use one or more of the retirement calculators that are provided by our friends in the investment community. They will help you understand how you will be able to pay for your living in your retirement years.

Among the income items that are entered into the retirement calculators are:

Social Security check (You can get an estimate from www.ssi.gov )

Pension Plan (If you are among the luck ones to still have one available)

Income generated from Annuities

All of the above items are designed to provide a monthly payment.

The investments below are a different story, though.

401K

IRA's and Keogh IRA's

Certificates of Deposit

Stock Market Mutual Funds

Your personal Investment Portfolio

These are 'chunks' of money that will need to be conserved, as much as possible, and you will derive some of your retirement INCOME from the returns that these investments produce. To allow for cost of living increases and swings of the economy, most retirement planners will recommend using only 3% to 4% of your investments each year as income. That way, your investments will not let you down.

All of that is well and good, but what if the combination of Social Security, pensions, annuities, and 3% of your investment stash is inadequate for you to live on? Well, you obviously must look elsewhere for other income sources to supplement your retirement.

You could get a part time or full time job. Perhaps doing some consulting might do the trick. Or you could open a small business in your local community to earn money serving the needs of others. There are countless ways to generate some income.

Having been through this 3 times now, I have found that retirement is not all it is cracked up to be anyway! I cannot imagine sitting around, reading a book and rusting away by the minute. Also, I cannot imagine having to go to an office every day or be obligated to a schedule made up by others on when and where I need to be. For that reason, I have chosen to become an author. I write books and articles like this one on the internet for fun and profit. I have found ways to supplement my retirement while at the same time have some fun and not be tied down at all. It took me a while to get it going, but now I have a steady stream of income that pays the bills. If you are at all computer literate, you can do these kinds of things, too. Just find something that you are passionate about and figure out ways to exploit that passion! It can be done!

Looking back, I was terrified at the thought of having to go to work at some 'big box' retailer and having to welcome people at the door - just to make ends meet. Well, I am here to tell you that you need to think way beyond the traditional alternatives to find the many opportunities that exist. I wish that I had started this while I was still employed. I would have built up a security blanket years earlier and I would have securely retired much sooner!

Resources: Don Seibert is a retired business executive who, as an Expert Author, writes timely articles on many issues concerning sources of retirement income Having retired three times, he now is the host of http://www.RetireToEasyStreet.com Visit the site for a complete discussion of Retirement Income Options Article Source: http://EzineArticles.com/?expert=Don_Seibert

Baby Boomers Wake-Up Call

By Owen Craig

 

Get ready America, we're on our way. Baby boomers are on the verge of retirement. There are approximately 78.2 million of us in the United States. Baby boomers are born between 1946 and 1964. We are also called boomers and boomies. We make up the lion's share of the political, cultural, industrial and academic leadership class in America.

In year 2011, the first of America's baby boomers will reach the age of 65....primed for their golden retirement years. However, 8 out of 10 people surveyed plan on working after retirement. Speak to a baby boomer and they'll tell you what retirement in their golden years is going to be like. And, they're being shocked by a wake-up call.

"I jumped the gun at age 52 to retire" one baby boomer said, "I was on top of the world. No more 9 to 5. No more scheduled meetings. No more political correctness. No more towing the line. Utter utopia. Better still, absolute utopia. Yahoo!!! I had done it."

Hold on, time for a reality check.

It's a well known fact baby boomers are living beyond their financial means. That alone should serve as a wake-up call....for baby boomers are not saving adequately for their retirement years. It cost money to live. It ain't free. The bills still come in. And, the bills increase at a rate faster than returns on assets.

Baby boomers need to step up to the plate and heed this wake-up call. Especially if they want their standard of living to remain intact. Heaven forbid should their standard of living decline.

Maturity arrives quickly. Baby boomers must view the big picture before retirement. Will their accumulated assets satisfy their retirement lifestyle. Will they be healthy enough to enjoy retirement? How can baby boomers retain their current life style? These are just a few questions baby boomers should begin to ask themselves before it's too late and those golden years are upon us.

Owen Craig is a baby boomer who retired at age 52. He currently a Health Consultant and an entrepreneur. For further information on Baby boomers wake-up call contact..... Owen Craig (Health Consultant) 905.642.6958 http://www.boomershealthjuice.com Article Source: http://EzineArticles.com/?expert=Owen_Craig

Essential Factors About Your SS Retirement Benefits Application

By Carla C. Ballatan

 

Everyone in the United States, especially citizens, permanent residents and naturalized citizens are aware of the Social Security program. This popular and expensive government program was designed to support the needy Americans, primarily disabled and elderly ones.

How can a person benefit from the social security?

The social security system works by having working Americans pay out a portion of their income as taxes. By doing so, they become qualified to receive certain benefits upon reaching retirement age or contracting a disability.

Both the worker and his or her employer pay taxes to the social security program. The worker pays 6.2% of his/her wages and the employer pays the other 6.2%. Meanwhile, self-employed persons must pay the full 12.4% social security tax from their income.

The social security program concentrated on retirement benefits gets the 10.6% of the amount the worker pays while the remaining 1.8% goes to the program for disability benefits.

On Social Security Retirement Benefits

If you are entering the retirement age and assured that you have paid enough social security taxes to be qualified for retirement benefits under the social security, then you need to apply for them. The Social Security Administration (SSA) will not automatically provide these benefits for you. Application forms specially designed for those making a claim for retirement benefits must be filled up and submitted.

The form requests specific details like:

1. your social security number
2. proof of American citizenship
3. certificate of birth

Checking your benefit amount

Every year about the time your birthday comes around, you get a statement from the SSA giving you information on the amount you have paid in the retirement benefits program. You must use this statement in your application. Early on, if you notice a problem with the details of the SS statement, you have to make sure that it is corrected immediately to avoid problems when you finally claim your benefits.

The statement also gives you information as to the amount you will receive where you to retire at 62 years old and thereafter. Thus, you can also decide at exactly what age, starting 62 years old, you intend to apply for your retirement benefits.

Deciding on your retirement age

About two-thirds of people in the U.S. in their retirement ages prefer to receive their benefits as early as possible. Some of them are in urgent need of the money they are bound to receive and thus do not have much choice in the matter.

You have to consider many things in deciding when to apply for your retirement benefits:

1. retirement plans - whether you still intend to continue working
2. health and life expectancy concerns
3. your spouse's and other dependents' needs
4. accessibility of some other retirement plans you have set up before

Your social security retirement benefit is a significant matter that should not be overlooked. As an added security, the social security ensured the following:

• Until your death, you will keep on receiving such benefits
• Your benefits are adjusted based on the inflation, you need not worry of it losing value as time goes by

A legal specialist's added help

Before starting your application, it is also advisable to ask for the advice of a social security retirement benefits lawyer. If you are in Los Angeles, for example, it is much better to seek the legal advice from a lawyer of the said city. They have the authority to give you proper advice regarding your retirement concerns.

More information can be found about this topic on FAQ on Retirement Benefits and by getting the advice of a Los Angeles Social Security retirement benefits lawyer Article Source: http://EzineArticles.com/?expert=Carla_C._Ballatan