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Retiring doesnt necessarily mean youre totally going to depend on your pension check. Although youre past the prime of life, it does not mean that its too late to start investing as well. Lets face it, daily expenses wont stop coming upon retirement, it maybe reduced in some ways, but sometimes it can also be increased due to frequent travels and relaxations and to even personal things acquired for the satisfaction of the word retirement. Of course none of these things is bad at all; its been what youve been dedicatedly working for all your life, to reap of the fruits of retirement.
However, it can also be the time for investing. With some simple financial planning on how to earn extra retirement income, a retiree can invest for the future, for them or for their children. How to earn extra retirement income will need some steps to follow, starting with setting of goals. Setting goals is all about evaluating spending and income, and deciding on what youll need to do to boost your income to meet the goals. Do away with tapping you 401 (k) plan and other tax-deductible retirement accounts, and consider starting your own small business or getting a part-time job to meet the expenses, it might be fun.
How to earn extra retirement income is also about throttling back on risk. Even though you might be enticed to invest heavily in high-risk stocks, resist. Put a fraction of your pooled money in such stocks no more than ten percent to twenty percent, depending on your taste for risk. Put a bigger percentage of your selection in tax-exempt bonds and other lower-risk stocks. A number of consultants recommend to keep at least forty per cent in bonds or bond funds after retirement, which is also one way of how to earn extra retirement income.
Think about selling your home and moving to a retirement community, profits from the home sale can be invested to help fund for your retirement, or consider a reverse mortgage if you decide to keep your house. Look around for reverse mortgage.
Take benefit from investing brochures, stock analyses, personal-finance magazines, and other resources that can be availed of online and at the local library. A lot of libraries carry Morningstar assessments for mutual funds. A website that offers free tips on protecting oneself from scams is the American Association of Retired persons (AARP), and some senior centers from time to time host free-low cost investment seminars.
Another good initiative is to start estate planning and deciding on how to distribute your assets after death. A lot of experts say that to maintain a current lifestyle in retirement, seventy percent of your pre-retirement income is needed.
Milos Pesic is a successful webmaster and owner of popular and comprehensive Retirement information site. For more articles and resources on Retirement related topics, Retirement Plans, Retirement Communities, Individual Retirement Accounts and more visit his site at:
=>http://retirement.need-to-know.com
E! Online - We'd like to extend a warm welcome back to the West Coast to our favorite couple LiLo and SamRo. But with every bit of good news always comes some bad.
Posted by frankvgmgzny | 11:16 AM | 
As many retirees realize, the ideal of a problem-free, low pressure, undemanding and stress free retirement is not always the reality.
It's true that when we think of retirement we envisage not having to set the alarm in the morning, loads of free time to do whatever we want, and the opportunity to learn some new skills or devote more time to hobbies we have enjoyed in the past.
Most experts will agree that planning for retirement before you get there is one of the most important ingredients in a fruitful and stress-free retirement. Here are some good places to start:
ASSESS YOUR HEALTH (better still have a professional do it!)
Poor health is one of the major causes of stress for retirees. It is a fact of life that as we age, our health becomes poorer, no matter how fit and active we are. We start to wear out.
However there are there are a lot of preventative steps that we can take to help us stay healthier for longer. If we have symptoms of preventable health issues, it is better to tackle them before they become disability-causing illnesses.
Look at your lifestyle. If you are overweight, try to shed those pounds. The best way to do this is to alter your diet to included more fruit and vegetables and reduce the amount of fatty and calorie-rich foods you eat daily. The term "if you don't use it, you lose it" applies most aptly to our bodies. You have legs - get out and use them, go for a walk every day. This can be good for your social life as well - say hello to everyone you pass!
SOCIALIZE!
It is really important to maintain or establish social networks in your retirement. There is nothing worse than feeling isolated in your own home - loneliness itself can be a major cause of stress, and can even lead to clinical depression.. If you have moved to a new area in retirement - get involved. Volunteering is a great way to become involved in your community, and there are many different opportunities to suit your interests.
Join clubs or interest groups that suit you, take it slowly at first though. Don't join an established group and bombard them with your opinions. Sit back and see how they operate first. It's nice to belong to a 'group'. Chatting while playing cards, having a round of golf, discussing books or serving morning tea can be a great stress-reliever.
DON'T OVERDO IT!
If you are a natural 'get involved' sort of person, make sure you don't over-commit yourself. This in itself can be a major cause of stress in retirement. Demands of being on various committees, can be very stressful, especially if you are a chairperson. If you are experiencing this problem first-hand, use the next annual general meeting to step down from one or two committees - let someone else have a turn.
MEDITATION AND SPIRITUALITY
Retirement is a great time to get in touch with your inner self. This doesn't have to involve chanting, or sitting with your legs crossed, or standing on your head. All that is really needed is for you to take some quiet time out by yourself to think about what is going on in your life, and to thank your God for all of the positives.
GET LOTS OF REST AND HAVE QUALITY 'ME' TIME
If you are a religious person, take some time to read your bible, look behind the words and apply the lessons to your life. Having regular contact with members of your churches congregation will reward itself when you are in times of need or grief.
GET YOUR FINANCES IN ORDER
In an ideal world all retirees would be have enough in the way of savings or superannuation to live comfortably for the rest of their lives. Many will have saved enough to be able to afford to travel and indulge in lives luxuries. None of this is possible without some forethought however.
Financial constraints often lead to stress in retirement. Having to watch your pennies at every turn can lead to social isolation and poor diet. If you are having trouble making ends meet, be sure to see a counselor who will be able to advise your best courses of action.
Living within a budget will help tremendously, but for those not used to managing their own finances, this can be daunting at first. Being restricted to a budget doesn't mean that you cannot enjoy yourself though - there are many free activities offered by local communities and church groups.
Acknowledging your financial constraints and learning to live within them will eliminate the stresses they cause.
KIDS AND THEIR KIDS
Sadly one of the big causes of stress in retirement is the demands put upon us by our children. While it is lovely to have them visit, and to see grandchildren, too often grandparents are asked to be the day-carers or babysitters of their grandkids. Once in a while is a pleasure, every day or every Saturday night is an imposition.
Be aware of this before child minding becomes an expectation of your children. Let them know that you have your own daily or weekly routine. You have clubs, outings, sports and meetings to attend.
There are, no doubt, many other causes of stress in retirement, including caring for an sick spouse, frustration with your own failing health, having to care for or arrange care for your own aged parents.
If these measures don't work for you, seek help from a health professional or a community counselor. Sometimes just talking, vocalizing your problems, will start to ease your stress. Recognizing the symptoms of stress is often half the battle.
Kerry Anne Finch is an accomplished marketer, with proven successes in corporate and NFP PR, event management and hugely successful product launch programs.
Kerry has founded a new website Over55s specifically for the Baby Boomer/55+ age group, with features that include Travel, Hobbies, Health and Sport (http://www.over55s.com). Contributions from members are not only welcome, but are encouraged.
Currently Kerry divides her time between launching and managing her new website, her internet writing business, and gathering material through her role as an international tour director.
AP - A man whose girlfriend sat on a toilet for so long that the seat adhered to her body will spend six months on probation.
Posted by frankvgmgzny | 6:47 AM |
