Retirement – The Big Words Blog Site

Staying Healthy: A Guide For Those Of Retirement Age

“Many people work their entire lives for their retirement years. A major consideration though is not just having enough money, but also being able to enjoy the time in terms of health.”

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A key focus of my blog is Health/Wellness. Many people work their entire lives for their retirement years. A major consideration though is not just having enough money, but also being able to enjoy the time in terms of health. The following contributed post is entitled, Staying Healthy: A Guide For Those Of Retirement Age.

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Our health is always important, but we need different things as we move through different seasons of our lives. The good news is that if you are currently in the retirement season of your life, you can find out how to stay fit and healthy below.

Keep moving

Mobility and exercise are incredibly important for people of retirement age. This is because we tend to slow down a bit physically around this time, and then once we no longer head to work every day, it’s easy to become more sedentary. The problem with this is that mobility is a use-it-or-lose-it skill, which means the less you do the less you end up being able to do.

To that end, putting a plan in place to stay active and mobile is crucial. This may mean joining a gym and following their class program each morning, or it could mean heading to the course for a round or two of golf. The activity you chose isn’t as important as making sure you enjoy it and do it regularly as this will help you keep up the habit and stay healthy and mobile during your retirement years.

Wear your hearing aid

Many people of retirement age experience some hearing loss and are given hearing aids to wear. Unfortunately, lots of us do not like to wear them because they make us feel older than we are! However, if you require a hearing aid and don’t wear it you could be setting yourself up for all sorts of health issues. This is because the mind and body do not respond well to the stress of hearing loss, and will continue to search for sounds even when they cannot be heard. This can put a great deal of stress on your system and lead to an increased incidence of depression, dementia, and even IBS!

With that in mind, you must wear your hearing aid if you have one. If there is a problem with it that is keeping you from using it be sure to speak to your specialist who can help you reprogram it to suit your needs.

Consider supplementing your diet

Supplements can be a controversial topic, as many believe we can get everything we need nutritionally from a well-balanced diet. However, chances are that by the time you have reached retirement age you know the foods you like to eat and the ones you don’t, as well as the vitamins and minerals you may be lacking in your diet.

With this in mind, the idea of supplementing what you eat with vitamins and minerals to help boost your health seems like a no-brainer. Just make sure that you check with your doctor before you take a new supplement as they have interactions with other medications you use.

Embrace wellness checks

Yep, a visit to the doctor can be scary even if it’s only for a scheduled check-up, but that is no excuse to avoid them. In fact, the wellness checks offered to you by your doctor based on your age can be very helpful in keeping you healthy over the long term. This is because they are designed to test people at ages when these issues become more prominent and serious. The good news is that by attending these screenings you will either catch any issues early which makes them so much easier to treat, or have the peace of mind that you have a clean bill of health.

It’s Never Too Late To Start Thinking About Retirement

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“It’s very easy to put off thinking about retirement until you realize it’s closer than you had expected.”

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A key focus of my blog is Financial Literacy/Money. For working-class people a major consideration is retirement. It is a critical consideration as most people won’t be able to work forever, nor will they want to. The following contributed post is entitled, It’s Never Too Late To Start Thinking About Retirement.

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It’s very easy to put off thinking about retirement until you realize it’s closer than you had expected. Of course, there’s no real timeline for retirement that works for everyone. There’s your state pension that you’re entitled to after a certain number of years, but for the most part you’ll need to supplement that if you hope to have a comfortable living situation where working is no longer necessary. Moreover, a state pension is not necessarily tied to “retirement,” it’s rather a means of helping you in older age.

Depending on the kind of work you do and how lucrative it is, you could potentially retire decades before anyone else. At the very least, it’s important to think about retiring in your golden years, allowing you to live life on your own terms after working hard throughout most of your lifetime.

With that in mind, it’s never too late to start thinking about retirement, even if you’ve placed little thought into that thus far. In this post, we’ll discuss a few measures you can use to enact specific and helpful plans in this direction once more:

Creating A Realistic Retirement Budget

It’s essential to leverage any and all plans you have to help with retirement. For example, your place of work will usually have an employee contribution scheme where your employer will begin matching certain contributions based on how much you put in, and how much the minimum is. Higher pension contributions will often be considered a perk on the same level as having private healthcare, and you can always make stronger contributions based on your savings. In some cases, such as for those in the armed forces, a pension may accrue without needing to contribute to it.

Consider Estate Planning & Wealth Management

Of course, it’s not just whatever pension plan you put in place that can help with your retirement, but also how you manage any wealth over the course of a lifetime. This is why now is never too late to begin thinking about retirement, because odds are you have some savings or some assets you could maximize depending on your life situation, and this can assist you. With a wealth management firm, you can integrate the best possible advice, use proactive measures like investing, and also protect your position so that retirement not only becomes possible, but optimal.

Set Your Retirement Goals

It’s hard to orient yourself in any direction without stringent goals to help you get there. That might sound obvious, but retirement can have its little quirks worth considering, too. For example, it might be that while you’re not married to your long term partner, doing so can help you gain mutual protections and tax benefits – that’s not the only reason to marry of course, but it’s certainly not a bad one. Try to aim for more complete protections and saving accounts than to retire by a perfect rounded age like 60, because life scenarios shift and you may alter your plans.

With this advice, you’re sure to see how it’s never too late to start thinking about retirement.

A Complete Guide To Preparing For Your Retirement The Right Way

Two focuses of my blog are Financial Literacy/Money and Health/Wellness. Many people aren’t planning for their retirement, but if you are one of the wise ones who are, there are some important considerations. The following contributed post is entitled, A Complete Guide To Preparing For Your Retirement The Right Way.

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Are you thinking about preparing for your retirement? You should be and this is true regardless of how old you are. Indeed, financial experts agree that you start thinking about your retirement as early as possible. Remember, this isn’t just about protecting your interests. It’s about ensuring that you can do your best for the people that you leave behind. We’ll explore this concept a little more further down the article.

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It’s important to realize that there are different factors to keep in mind when you are preparing for your retirement. This does go beyond your financial situation and includes things like your health too. So, let’s get started.

Building Up Your Investments

The first step you need to think about is investment decisions. To invest, you need to learn how to save money effectively. You should be aiming to save about fifty percent of what you have leftover each month. This doesn’t need to be a massive amount when you’re younger, but as you get older you should be building up these amounts as much as you can. If you are struggling to save enough each month, then it’s important to think about how you can be more frugal. You should work to save in little ways such as on your energy bills each month.

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When you start building up a solid amount in savings, you can then start looking at investing. A lot of people assume that you need a massive fortune to invest your money, but this isn’t the case. There are investment options for people with low amounts of disposable income. For instance, you can think about checking out penny stocks. As the name suggests, penny stocks are quite cheap and there’s always the potential that they blow up massively even over a short period.

In terms of larger investment choices, you need to think about buying property. You should try and get on the property ladder as quickly as possible. By doing this, you can make sure that you are building up the value in your home, little by little, each year. You’ll then be able to make a profit whenever it’s time to sell. Some people choose to purchase multiple properties. This is an option worth exploring as long as you are prepared for the responsibilities of being a landlord. It’s definitely not an option that you can explore with a hands-off approach unless you are ready to pay for various services.

One of the key benefits of owning property is that you will have something substantial to pass down to your heirs. What is a heir? An heir is someone that will inherit the property that you pass down. This is something that will come into play when you start thinking about your will. That brings us to our next point.

Insurance Options

You should definitely think about insurance choices when you are planning your retirement. The most important insurance option is going to be life insurance. With life insurance, you can make sure that your dependents are covered when you pass away. This includes any loved ones or children too. When you are choosing insurance options like this, then you need to compare a few different options on the market. It’s important that you do get the right deal and you should also look at the fine print. The last thing that you want is for your insurance company not to pay out to your dependents due to a technicality that you weren’t aware of. For instance, a lot of insurance companies will not provide coverage for your death if it is caused by particular diseases.

There are other insurance options that you can consider too. For instance, you might want to think about investing in disability insurance. With disability insurance, you will receive a payout if you develop a disability that means that you are unable to work or potentially earn your previous income. Again, you need to make sure that you are looking at the technicalities here.

You might think that the chances of you developing a disability are low. However, this isn’t quite the case. The grim reality is that it’s incredibly common these days for people to develop a disability before the age of 65. Common issues such as RSI can also impact your ability to work and earn an income.

Focus On Your Health

Finally, you should make sure that you are getting your health in check before you retire. You don’t want to spend your retirement in a hospital bed. If you’re not careful that’s exactly what can happen. The unfortunate truth is that as you get older, it becomes more difficult for your body to heal and it takes significantly longer. If you ensure that you exercise well and eat the right foods you can ensure that your body is strong enough to avoid issues like this.

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For instance, you need to make sure that you are consuming a diet that is packed full of antioxidants. These are found in a wide range of different foods such as leafy greens. You can find some great guides online about what foods you should be focusing on here to ensure that you get the best results.

As for exercise, you need to focus on low impact exercise routines. These are the ones that are most likely to provide the benefits to your body that you need and help you avoid issues with potential injuries.

We hope this helps you understand the best ways to prepare for your retirement. In doing so, you can make sure that you do get the best quality of life in what should be some of the greatest years of your life. You will also be able to make sure that you are thinking about the people who you will one day leave behind. Remember, it’s never too late to start thinking about your retirement. Starting down this path early will always mean that you are better prepared for some of the challenges that lie just over the horizon.

10 Investment Tips for a Successful Retirement

Two key focuses of my blog are Financial Literacy/Money and Health/Wellness. As an employee, a key pillar of your financial plan and life should be your retirement savings. If you haven’t started, take the tips in this piece seriously. If you’ve already started, it’s always good to relearn and or solidify what you know. The following contributed post is entitled, 10 Investment Tips for a Successful Retirement.

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It might seem like a long way off but the earlier you think about saving for your retirement the better. Even if you simply want to start investing to give you a more comfortable life in the future, this is a good attitude to have. It’s also important to define your goals and budget and understand your options. There are several ways you can ensure yourself more financial security and with a little investment experience and know-how, you can even make a bit of money on the side. Here are ten investment tips for a successful retirement.

Get started early

The earlier the better. Even if retirement seems impossible to contemplate right now, you’re never too young to start investing in your future. This way you’ll be able to make saving and investing a lifelong habit and you’ll develop plenty of skills and knowledge along the way.

Understand the types of retirement plan

It’s vital to understand your taxes and what you’ll be entitled to. There are different types of retirement accounts and some are taxable and others tax-advantaged. Many people aren’t aware of the types of retirement plans available to them and how they work according to taxes. It’s a good idea to inform yourself about IRAs and 401ks along with company plans and pension schemes, so you understand all the options available to you.

Consider different investment options

Once you’ve got your head around the traditional investment options you can branch out and look for other opportunities. For example, investing in gold and silver has been proven to be very lucrative. This is due to the fact that precious metals aren’t as affected by the change in geopolitical circumstances in the same way that local currencies are. Before you invest in anything new, however, make sure you get as informed as possible and think it through carefully.

Diversify your investment portfolio

If you’re seriously interested in branching out and investing, you should always keep your options open by diversifying your portfolio. This is based on the idea of not putting all your eggs in one basket. Ideally, a balanced portfolio should have a mix of various assets such as stocks, fixed income, and commodities. These will all react differently to the same economic event, thus giving you more options. Also, rebalance your portfolio at least once a year. You want the right combination of stocks, bonds, and cash for your investment goals. Make changes by buying and selling shares to rebalance your portfolio.

Calculate your net worth

If you’re getting into investing, it’s also a good idea to calculate your net worth. You can do this easily online with a net worth calculator. Your net worth is figured out by calculating the difference between the assets you own and the liabilities you owe. These can include all your investments from property to company stocks and your other financial assets. Any debts will be counted as liabilities such as your mortgage, student loan, medical bills, and credit cards.

Clear your debts

Before you start investing for your retirement, it’s ideal to be in the best financial position possible. If you have any debts, don’t worry, you’re in the majority of the population, but it’s advisable to clear these before you invest. You can get professional advice online to help you choose the appropriate debt management plan. Once you’ve cleared your debts you’ll be in a better place to start investing. Certain debts are considered “better” than others, for example, it’s not a problem to have a mortgage or student loan outstanding.

Seek professional advice

It’s always recommended to seek investment advice, even if you’re an experienced investor. This way you’ll get all the information you need so you can start preparing for a successful retirement in the future. You can also get investment and other financial advice from apps known as robo-advisors. This is a great option if you haven’t got the time or money to sit down with a financial advisor every so often, but the service they provide is slightly less personalized.

Make a realistic budget

Once you’ve got as informed as possible you can finally include your savings and investments as part of a realistic budget. There are apps for this too and the latest budgeting apps can help you organize your personal finances. The most important thing is that you actually stick to your budget. If you’re finding that you aren’t able to do this then you probably need to reevaluate your budget to make it more realistic with your spending. You could alternatively look for ways to cut down on your spending. Ensure that you are always able to live within your means and put your savings to one side first.

Don’t let your emotions take over

When you’re investing or making financial plans for your future, try not to let your emotions take over. This might lead to you making poor decisions without thinking things through logically. Take your time, particularly with new investments, and never jump on the back of a fad without doing your research first. If a new investment sounds too good to be true then it probably is. Financial discipline is very important when dealing with the stock market and it’s crucial to keep a level head at all times. It’s very unpredictable and difficult to follow as it is.

Always have a backup

In order to ensure financial wellness, it’s always a good idea to have a backup. Create a contingency plan in the unfortunate case that you lose your job or are forced to take a pay cut. In these difficult times, anything is possible, so the more prepared you are the better. It’s advisable to keep some savings for emergency purposes, rather than investing them all, for example. You’ll have more peace of mind knowing that this buffer is there to get you out of a sticky situation if need be. With a backup plan in place, you can focus on investing for a successful retirement.

The Ultimate Guide Of What To Do Now You’re Retired

Two key focuses of my blog are Career Discussions and Health/Wellness. For those people who have planned to retire, an important consideration is what you’re going to do once you stop working. This could be the difference between a long and happy retirement or a short one. The following contributed post is entitled, The Ultimate Guide Of What To Do Now You’re Retired.

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Retirement is a chance for many to take control of their lives after years in the workforce. It’s a great time to take on all the things you wanted to do but never had the time or resources to accomplish. Here are some of the many fun and interesting things you can do to make the most out of your retirement.

1. Don’t Blow Your Budget
Make the good times last and don’t spend all your pension pot at once. While it may be tempting to splurge on fun and frivolous things, people are living longer than ever before. Create and stick to a firm budget or set your bank accounts to allocate a fixed income each month so you won’t be tempted to splash the cash. If you’re really having a hard time sticking to it and can see your hard-earned savings dwindling, seek out the advice of your bank for easy and convenient retirement savings plans.

Take A Trip
No more requesting time-off from the boss or working around school vacation time, you now have all the time in the world. Take trips to places you’ve never been before, weather thats a day-trip to a town a few hundreds miles away or a long-haul flight to some far-flung destination. The world really is your oyster now!

Travel By Motorhome.
Like the comforts of home while you’re on the road? A perfect solution is to buy a motorhome. Available new or used, it’s a way for you to have all your creature comforts while exploring the country.

Upgrade Your Home
Life can sometimes get ahead of us and retirement is a great time to tackle any home improvements you may have. Houses can accumulate huge amounts of clutter over the years- use this time to organise your space and donate things that you may no longer have use for. Alternatively take on a bigger project like an attic conversion or a conservatory to really add space and value to your home.

Relax

Yes, relax! You’ve earned it. Take joy in doing things that you really truly love. Start an entertainment blog like Judge Diane Ritchie , learn how to cook like a professional chef, or even start recording your daily musings and upload them onto Youtube. The possibilities really are endless.

Move To Pastures New
City life can be grinding especially as you reach old age. The constant hustle, bustle, noise and pollution can really leave you craving the peace and quiet of the country. Consider a move out to the country. Houses are a lot less expensive than the city and you will have time to take on rural pursuits such as chicken rearing or growing your own fruits and vegetables.

Start Your Own Business. Now is the perfect time to start a business with that amazing idea you’ve always had. Use your decades of career expertise to curate a business model that works for you or even get in to consulting to advise others with all of your expertise.

Get A Part-Time Gig. Not quite ready to give up the daily grind? Consider getting a part-time job. It’s a great way to create routine, keep an active social life and bring in a little extra income.

Volunteer. Use your time in retirement to give back to those less fortunate. . Churches and charity organisations are always looking for help and would more than likely love your inclusion.

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