December 29th, 2011
If you are like me, you are probably wondering what happened to 2011. Seems like yesterday it was January 1, 2011. We’ve all heard the old adage, ‘seems like time flies by faster the older you get.’ I’m sure if that is correct or not, but for me, seems like it does or maybe it’s all in my mind. Last I heard there are still 24 hours in a day, each and every day of the week, month, and year. So why is it, time seems to fly by. I have a couple theories:
1. Lifestyle…its pretty obvious that our lifestyle today is different today than say 20 or even 10 years ago. No doubt, we are on the go more and busier than ever.
2. Technology…of course the most obvious thing to come to mind is the computer. But, that in itself is not it a reason. What about email, automobiles, cell phones, overnight express, faxes, television, CD’s, DVD’s, MP3’s, POD’s, YouTube and now Blogs (what’s a blog?) Oh boy, all this technology is taking a lot of our time.
3. Medical…yes, medical treatment has gotten so much better and for that, we can be thankful, but stop and think about our time built around the medical visits! Can you remember when the doctor used to come to us, and dispensed the medicine in paper pouches?
I guess I could go on and on. As the 2011 comes to an end, I am not considering making a New Years resolutions. I’ve always thought I’d either forget them or heck, just never live up to them. But, I am really going to try to make better use of my time in 2012. Family time better spent with wife and children and better time with the grandkids, and maybe even work in a little time for myself. Of course, giving back some time to the community and hopefully bestow some of this mature mind onto the minds of our younger generations. I’d like to awake each day with a purpose and by the end of day hopefully reflect that I really accomplished something that day. For sure, time waits for no man or woman. I hope your time in 2012 is Happy and Healthy.
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September 23rd, 2011
Do you remember Chubby Checker and the Twist? Sure, you do. Now the
Federal Reserve is getting into the act, with a new slant on how to lower mortgage rates and get homowners more cash. The idea being, that if homeowners are given a chance to lower their mortgage payment, then this in turn would pump money back in the economy, create more spending, and maybe some new jobs along the way.
Take a look at the video. \”The Fed Twist\”
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July 18th, 2011
The problem: My spouse and I are in our 60s. How can we know whether we’ll have enough income to comfortably retire soon without running out of money?
How it works: This decision is crucial, and making a poor choice now could have devastating effects later. Spend some time number-crunching and discussing your future before you make any decisions. And don’t forget that life expectancy is increasing: You shouldn’t rule out the possibility of living into your 90s.
The rules: Make sure your investment portfolio is well diversified in order to adequately fund your retirement income needs. It should be a mix of stocks, fixed-income investments, real estate and CDs. Although investments always carry some risk, and performance can never be assured, a diversified portfolio historically has outpaced inflation over time.
The strategy: Talk seriously about what you want to do during retirement. Is travel a priority? Will you spend your time closer to home, pursuing hobbies or volunteer work? Do you plan to relocate? When? Use the conclusions you reach to develop a realistic annual budget that covers your cost of living, including recreation expenses and anticipated medical costs.
Next, list your sources of annual retirement income. Include pensions, annuities, any income you anticipate from working part time, plus any other income (except investment income). To this figure, add the estimated annual Social Security payment listed on your most recent statements.
Finally, list all your assets: Bank accounts, IRAs, 401(k)s, 403(b)s and other investments. Looking at your assets in total will help you determine how to diversify your portfolio and maximize your returns. Come up with a conservative estimate for what your investments will produce annually and add it to your total yearly income. The figure should give you a good idea whether you will have surplus income or a shortfall.
The results: If you foresee a large shortfall, consider working a few extra years. Even with those extra funds, however, you may need to make annual withdrawals from your assets to supplement your income. Plan to withdraw no more than 4 percent to 5 percent each year, which should allow for growth while minimizing the possibility you’ll run out of money.
Tags: Income Investments, Investment Income, Investment Portfolio, Life Expectancy, Medical Costs, Number Crunching, Pensions, Retirement Income, reverse mortgage, Shortfall, Social Security Payment, Surplus Income, Time Number, Volunteer Work, Yearly Income
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July 10th, 2011
Swings in Financial Markets
Are They Here to Stay?
When planning for retirement, consideration should be given how you can account for the swings in financial markets. How will a sluggish economy, natural disasters, terrorist attacks, corporate scandals and other unforeseen events affect the stock market and your ability to fund retirement?
In retirement or about to enter retirement, you need to plan for how much money you will need for every year you are alive – but just as you don’t know how long you will live, you can not know what rate of return you will receive from your various investments.
Stock market declines significantly have affected the retirement plans of most individuals. In retirement, you need to plan for how much money you will need for every year you are alive – but just as you don’t know how long you will live, you can not know what rate of return you will receive from your various investments. Market fluctuations make it very difficult, yet there are financial vehicles now in place that can offer you some choices.
Many retirees hope to gain income from their savings or keep pace with inflation by investing in financial vehicles that offer high rate of returns. The problem is that – as a general rule – investments that offer high rates of return are often the riskiest. And in retirement, rule #1 is reduce your risk!
Other retirees hoard their savings in accounts that offer no or very small dividends – meaning their principal is safe, but the money may be loosing value by not keeping pace with inflation. And the savings are certainly not creating income. Again, there are answers to those who are risk adverse.
It is difficult to find just the right way to allocate your assets. But, it is critical to understand that you should try to plan on having enough guaranteed income to cover your basic needs should something happen to make the financial markets collapse.
We are not financial planners. Consult with your financial planner or tax consultant before making any investments.
(source SRTKN research)
Tags: 401ks, Collapse, Corporate Scandals, Dividends, Financial Markets, Financial Planners, Financial Vehicles, Health Care, Inflation, Investments, Keeping Pace, Market Fluctuations, Natural Disasters, Rate Of Return, Respondents, Retirement Assets, Retirement Plan, Retirement Rule, Rule 1, Sluggish Economy, Stock Market Declines, Swings, Terrorist Attacks, Unforeseen Events
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June 10th, 2011
More than 13 million older adults are living on just $21,780 a year or less according new data released by the National Council on Aging (NCOA).
A new campaign launched by the organization spotlights how older Americans are one bad break, one accident, or one layoff away from economic disaster.
“We are already receiving real stories of seniors who are struggling,” said Sandra Nathan, senior vice president for economic security at NCOA. “It’s clear that vulnerable older adults are in desperate need of help and want to be heard.”
To spotlight their struggles—and call for change—the NCOA is rolling out One Away, a national advocacy campaign that uses video to allow older adults to tell their own stories, in their own words.
As part of the campaign, a Harris Interactive poll found that almost two-thirds (63%) of adults aged 18+ said they or an older adult they know is struggling to make ends meet in today’s economy. A majority (62%) also know one out of three older adults that relies on Social Security for over 90% of their income. In addition, almost three-quarters (72%) either underestimated or did not know that nearly 6 million seniors are at risk of going hungry every day.
“The struggles seniors are facing are all too often overlooked or dismissed,” said James Firman, president and CEO of NCOA. “This campaign is about elevating their voices, and we need Congress to catch up to the realities of their constituents and develop concrete solutions to make life better for our seniors.”
Here is your chance to express yourself with One Away national advocacy campaign. The more often we speak up as older Americans, the better chance we have of making our voices heard.
Tags: 6 Million, Better Chance, Concrete Solutions, Constituents, Desperate Need, Economic Disaster, Economic Security, Harris Interactive Poll, Layoff, National Advocacy Campaign, Ncoa, Older Adults, Realities, Sandra, Senior Vice President, Seniors, Social Security, Three Quarters, Two Thirds, Voices
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