Posted on August 17, 2011 by Erin
Ok, women – there’s yet another reason to keep your weight down to a healthy level. In a new study published in the British Journal of Cancer, it was found that the risk for breast cancer increased for post menopausal women as they gained weight. The finding adds to a long list of evidence that links obesity to breast cancer. While other risks like family history cannot be changed, being able to control your weight is something many people can do.
Worried that you may be putting yourself at an increased risk for breast cancer due to your weight? Then it’s time to get moving! Remember to talk to your doctor before you begin any exercise routine, but once you get the thumbs up, jump right in! You can take a stroll after dinner or even join a senior exercise class at your local gym/community center. Afraid of the impact all this exercise will have on your body? Try exercises like biking or swimming. Swimming works your entire body while putting very little stress on your joints. Get more ideas for exercise, here.
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Posted on August 16, 2011 by Erin
Do you feel like everyone is retiring later these days? If you do, you’re right. Recently, the Center for Retirement Research at Boston College, released a brief that found that since the mid-1990s the average retirement age has increased by two years for both men and women.
Why is this happening? Several factors come in to play such as unstable financial markets, changes in pensions and Social Security, declining retirement health insurance and the fact that people live longer lives now. If you live to be 90 and you retire when you’re 60, you will have to prepare to finance 30 years of retirement. That’s almost as long as you spent in the workforce!
When do you plan on retiring? Is it early? Is it later than you had hoped? Is it ever?
See how your retirement plan is coming along. Use our Retirement Calculator.
Forty-two percent of people over the age of 65 will require long term care. Protect yourself with Long Term Care insurance
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Posted on August 15, 2011 by Erin
Are you a small business owner? If so, now is the perfect time to create a retirement plan according to many big investors. As the market gets better and hiring begins to ramp up, small business owners will need to remain competitive to maintain their best workers and to avoid high turnover. One of the best ways to accomplish this is to offer your workers a benefit like a 401k or an IRA. Not only do these plans offer your employees a chance to save for their future and give them a sense of loyalty, you as an owner catch a break too. Starting a plan doesn’t have to be difficult and the contributions you make to your employee’s plans are tax deductible.
Everyone is worried about savings right now and everyone wants a great retirement plan. With the markets down, now is the perfect time to ramp up those retirement plan investments and also a great time to take advantage of any tax write offs you can get as a small business owner.
Are you a small business owner that needs help setting up a retirement plan? Read here for an overview.
See how far you are in your retirement savings. Try our free Retirement Calculator!
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Posted on August 12, 2011 by Erin
Spend more money to save more money for retirement? According to Rob Warner, author of the book, “Get a Life: You Don’t Need $1Million to Retire Well,” that’s exactly what to do. It may seem counterintuitive, but he has a point.
My favorite example that he gives his readers is to take more vacations. According to Warner, people want to retire at an early age because they have worked themselves to the bones for many years – they rarely took vacations or when they did, they scrimped and saved and never felt like they truly took a break. Retirement to these people is a permanent vacation where they can finally go to all those places they were never able to. Who wouldn’t want to race towards that! But think about it – if you do take quality vacations, you’ll feel more rested. If you feel rested, you may be able to work another year or two. If you work another year, you are able to delay Social Security which means an extra 8% more in benefits for life. And by working another year, you’re adding to your savings instead of beginning to deplete it. And so on and so on. You can read more examples of creative ways to save for retirement, here.
See if your current savings will be enough to retire by using our Retirement Calculator.
Want to learn how to optimize your Social Security? Find out here.
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Posted on August 11, 2011 by Erin
When I dream of winning some game show that gives away a million dollars to the winner, my mom always tells me, “A million dollars doesn’t go as far as it used to!” Ain’t that the truth!
Recently, Forbes Magazine featured an article that discussed why $1 Million may not be enough to retire on in present day. Seems ridiculous, right? Well, maybe not so much. When you factor in that many people are living longer lives, spending more on necessities like utilities and health care and having high mortgages while going into retirement, it’s easy to see why $1 Million doesn’t stretch that far. A great rule of thumb is this: You can spend 4% of your initial savings per year, and it will last for 30 years. So say you have saved an impressive $1 Million – 4% of that is $40,000 a year. Can you live on that? Some people who don’t have mortgage payments or live in a lower cost part of the country can do this easily. But others who are helping out their children or grandchildren or those with high healthcare costs can see where $1 Million dollars may not be enough.
Figure out when you will run out of money. Use our free Retirement Calculator.
If you need to work after retirement, you might as well have a great job! Find out the best jobs for retirees.
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Posted on August 10, 2011 by Erin
Who said looking young is just for young people! In 2010, there were 84,685 surgical procedures done on people that were age 65 and older. That includes 26,635 face-lifts; 24,783 cosmetic eyelid operations; 6,649 liposuctions; 5,874 breast reductions; 3,875 forehead lifts; 3,339 breast lifts and 2,414 breast augmentations. These numbers (with the exception of the decline during the recession), are continuing to grow and experts say there’s no sign they will slow.
Why the sudden increase in cosmetic surgery for seniors? It’s no secret that we live in a society that obsesses over youthful appearances. People are living and working longer and unfortunately as many people are finding, in order to be treated a certain way, you need to look a certain way. And of course, sometimes people just want to fix the things that sag! Though it is worth noting that cosmetic surgery is still surgery and does pose risks.
What do you think? Would you go under the knife for a more youthful appearance or are you happy to look how nature intended? Comment here or on our facebook page!
Posted on August 9, 2011 by Erin
Now there’s yet another positive change that we can contribute to the baby boomers – healthier eating options! At the annual meeting for the group American Sugar Alliance, the executive director of North America’s leading market research company, NPD Group, announced that the “next agent of change” in regards to food will be from the boomer generation. It’s no surprise that this is happening – with boomers aging, health is a major focus. And whatever boomers do, the world pays attention to – ESPECIALLY when there’s money to be made. In the past, boomers spurred the growth of farmer’s markets which are now common place in many cities and small towns. Food labels have also further improved Boomer’s overall health and well-being. Just another example of how the boomers are changing the world again!
Eating healthy is the first step! Protecting yourself by understanding Medicare Supplemental Insurance is the next.
Find out how your health my impact your retirement plan if you’re not fully prepared, by using our Retirement Calculator.
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Posted on August 8, 2011 by Erin
There are many lessons to learn from the government’s handling of the debt crisis, but one of the most important can be how to handle your own finances. Imagine if you made less money than your credit card debt year after year. That would seem extremely excessive and definitely something you would want to take care of, right? Well, the U.S. government is in debt by $14.3 trillion but only takes in $2.16 trillion in revenue each year. So let’s go over some steps to demonstrate how to NOT manage your money this way!
The first step if you feel unsure about how your retirement planning is going is to speak with a financial planner. A financial planner can analyze your plan (or lack thereof) and get you on the right path to a secure retirement. Some advice any planner would give you right up front? Try to meet with one before you want to retire – it will be easier to make a plan when you have time on your side. Same goes with adding to your retirement fund. Don’t wait until the last minute to contribute money to the account. Try adding as much as you can every paycheck over the years so you don’t have to play catch-up. Simple steps and common sense can help make you retirement much more comfortable. You can read more tips, here.
Curious about what types of Retirement Advisors are available to you? Read about them, here.
Let us help match you to a Certified Financial Advisor!
Use our Retirement Calculator to analyze where you are in your retirement plan.
Posted on August 5, 2011 by Erin
Let’s talk about some good news for once! The Obama administration announced on Thursday of this week that the average monthly premium for Medicare Part D (prescription drugs) will not go up – in fact, the average will drop slightly. How so? Apparently, the drug benefits program is benefiting from competition between private insurance plans and the growing popularity of generic drugs. Another possible reason is due to greater access to preventative health care.
Though this is great news for seniors, some still believe that the current Medicare model will bankrupt future generations. What’s your opinion?
Read more on Medicare Part D, here.
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Posted on August 4, 2011 by Erin
No happily married couple wants to think of the possibility of getting a divorce, but this is something that everyone needs to think about to protect their assets. Think about it – would you want your ex to inherit your retirement funds?! This can be taken care of by revisiting the beneficiary designations on wills and retirement accounts and appropriately updating them.
Why is it such a big deal to update your accounts? Take this example: there was a case that was reported where a man passed away and his workplace retirement savings automatically went to his wife. Sounds about right until you realize he had remarried his new wife 6 weeks before he died and his children were left with nothing. When the children took the new wife to court over their inheritance, the court sided with the wife stating that her right to the funds vested immediately upon marriage. The lesson here is to always hope for the best but protect yourself from the worst.
Need help with your estate planning? Read up on it here.
Before you can protect your retirement, you need to know what your retirement is! See if you’re on track for a great retirement with our Retirement Calculator.
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