Sunday, August 26, 2012

Re-Thinking Retirement

Most baby boomers that I know tried to do a good job of saving money for the future. However, the last few years have been rough on a lot of well meaning older workers. The well laid plans, that many baby boomers had for retirement, seemed to stutter or fail.

What Are Some Financial Problems That Baby Boomers Have Today?

The economy bled jobs, and unemployment was particularly hard on older workers who planned to keep their current position until they retirement. This meant that many older folks had to dig into their retirement accounts to pay bills, and they certainly were not adding any more money to their accounts.

Homes lost value. Many middle class people consider their house to be their largest asset. This disrupted plans to leverage a home's value for retirement income.

Market accounts also lost value, so the value of many retirement accounts have declined. Regular savings accounts and bank CDs are not paying a lot of interest. In fact, the interest that many of these traditional savings products offer will not keep up with inflation. It is hard for many baby boomers to figure out where they should put their money.

The cost of health care kept rising. Recent studies have demonstrated that this increase is mostly due to rising prices too. Baby boomers are very concerned about securing affordable access to good health care during their retirement years.

Solutions To Today's Retirement Woes

Many clever people from the baby boomer generation have begun to sort out their problems and look for answers. Many of these people had to drop their old visions of life after full time work. Some people replaced these old, and out dated ideas, with new goals and plans for the future. It is much easier to make effective retirement plans when you start early. But a lot of boomers are finding out that it is not too late to re-think their retirement plans.

There is good news. Today's older workers can expect to live longer and more productive lives than past generations. This may give them more time to act.

Some may just count on working a few more years in order to make up the gaps. Others still plan to retire from their current job, on time, but pursue some sort of semi-retirement. In fact, a lot of older folks look forward to starting a new chapter in their lives by entering a new field or starting a business.


Sunday, August 19, 2012

Preparing to Sell? De-Clutter to Make the Best Impression



Getting ready to sell your home? Before putting a 'For Sale' sign on the lawn, imagine the impression your home will make on potential buyers. They will be viewing many homes before making a decision and yours must be the one that makes the best impression.

Real Estate Agents and professional organizers will vouch for the importance of getting rid of clutter as one of the best things you can do for the appearance of your home. Clearing away clutter will maximize the space in your home and allow potential buyers to envision their furniture in each of the rooms. If it's tough to see your home objectively, ask a friend for advice on what items to remove and how to rearrange your furniture so that each room is as spacious and inviting as possible.

Start de-cluttering in the kitchen and bathroom
The best place to start de-cluttering is in the kitchen; it's also the toughest room to look at completely objectively. The items on your kitchen cabinets are the things you use daily but people viewing your home want to know that there's enough room for their things; that means neatly organizing not only countertops but drawers and shelves as well.

Preparing for your move is the perfect opportunity to downsize and get rid of items you haven't used in awhile. Start by labeling storage containers or boxes with 'sell', 'donate', and 'keep'. Next, make a list of things you'll need at your new place; the things you're keeping for the new place but don't need until after the move, can be boxed to make room in the cupboards for the things that have been cluttering the countertops. Sanitize the kitchen from top to bottom with attention to the area under the sink, making sure there are no leaks in the plumbing or water stains. Then apply a fresh coat of paint to give the kitchen a clean new look and feel.

Keep the countertops free of small appliances and clutter until the move by storing items you use daily in the space you've recently acquired as you filled the 'sell' and 'donate' boxes. This will also make the tidying-up process quick and easy when your real estate agent calls to schedule a viewing.

The bathroom is right up there with the kitchen in rooms that make a big first impression. Clean it so it shines; and like the kitchen, a fresh coat of paint will not be wasted in the bathroom. Put out a set of luxurious towels reserved for when people are viewing your home, and clear out drawers plus medicine chests as much as possible keeping personal toiletries in a shaving kit and cosmetic bag.

Relocating to a seniors' community
In deciding what you'll eventually do with your furniture, note the pieces that you'll be taking with you and the items you'll be selling or donating. If you are relocating to a seniors' community you may have met with an advisor and have an idea of the furnishings provided at your new place. Many apartments in retirement homes have room for your preferred furnishings and personal décor.

Consider renting a storage unit for large pieces of furniture; this will free up space in the home you're selling and will give you a place to store the things you'll be taking to your new home. It will also allow you to take the time you may need to decide which pieces you want to sell or donate.

Your goal is to convert a browsing customer into a buyer and the first few minutes they will spend in your home are the minutes that count the most. Making a good first impression means allowing them to visualize their family living in the home that you are selling and you'll know that your investment in energy and time to make it inviting, was well worth it when your home is sold.

Sunday, August 12, 2012

Senior Friendly Day-Trips



Exotic and tropical destinations don't always top the list of get-away ideas; in fact the buzz around town this season is about local attractions, weekend and day trips. Does this sound familiar? Guests visiting from out of town are thrilled about the attractions in your community; you reply in agreement while silently wondering why it's been years since you planned a day-trip close to home yourself?

It could be the economy, possibly family responsibilities are keeping us near home this year or maybe we're just noticing the possibilities (and excellent photo ops) in our own back yards!

Attractions near Alberta Retirement Communities

Lethbridge: Nikka Yuko Japanese Garden
If you're visiting Lethbridge or considering retirement in southern Alberta, a beautiful attraction is the Nikka Yuko Japanese Garden. You may be surprised to find this oasis of tranquility only a fifteen-minute drive from Columbia Retirement Community (785 Columbia Blvd. West, Lethbridge, Alberta).

The Japanese Garden was established in 1967 Canada's Centennial, to recognize Japanese citizens and their culture. The contribution of Japanese citizens to the multi-cultural community of southern Alberta was the foundation for this symbol of friendship between Canada and Japan.

The Nikka Yuko Gardens are a gathering place where Japanese and Canadian cultures meet in the form of events and activities on weekends, traditional tea ceremonies and art exhibits. Respected garden designer and landscape architect Tadeshi Kubo of Osaka Prefecture University designed the gardens with authenticity and in writing about the gardens I cannot do justice to their tranquil beauty. On a day when you need time to meditate and experiencing the Zen quality of the gardens, pack a book and an extra camera battery and enjoy the Nikka Yuko Gardens.

Edmonton: Devonian Gardens
Still in Alberta and just 35 minutes from Ironwood Estates (40 Ironwood Point, St. Albert, Alberta) is the Devonian Botanic Garden. The Devonian Gardens - part of the University of Alberta offer nearly 200 acres of display gardens and natural ecological preserves to explore. The greenhouses, indoor butterfly gardens, plus the Kurimoto Japanese Garden give nature lovers and plant enthusiasts a lot to discover. Plan to spend more than a few hours in the idyllic gardens and again, don't forget the camera.

Churchill Manor (5815 34th Avenue Edmonton) is about 35 Km from the Devonian Gardens and if you haven't already planned a day trip to the gardens, I can offer personal assurance of an enjoyable day.

Calgary: Heritage Park
Heritage Park Historical Village (1900 Heritage Drive SW, Calgary) is an authentic representation of Canada's old West. The rides in the antique midway, the town's buildings, the train cars and the contents and artifacts are an incredible collection brought together to give visitors an experience of days gone by. Walk through the homes furnished as they were 100 years ago, pick up fresh baked cookies at the general store and ride the paddle wheeler on Glenmore Reservoir. This summer, jump in on the scavenger hunt while exploring the corners of the park in a 100 Years of History celebration. Pick up a Guide to the Past at the admission gate and experience the day.

Canyon Meadows, a Holiday Retirement Community (12 Deerview Terrace SE, Calgary) is twenty minutes from Heritage Park. An outing to the historic village is most enjoyably spent with friends or family, and next time visitors are in from out of town, memories of this outing will be worthy of their own photo album.

Sunday, August 5, 2012

The Sandwich Generation: 4 Ways To Prepare Yourself Now

2011 was the year the term "sandwich generation" really hit home for the first time. It was the year I turned 51 and my son turned 5. It was the year my father-in-law entered the hospital and never came home, while my mother marked her two year anniversary as a widow. Her ex-husband (my father) would soon need round the clock nursing care.

Now more than ever, it was clear that my little boy wasn't going to be the only family member who needed me in years to come.

I was now firmly wedged between a child who would need nurturing and financial support for the next 20-odd years and a set of aging parents and in-laws requiring care and support as well; a perfect example of what defines the sandwich generation.

For anyone finding themselves in this position, or if you're pregant over 40 or considering pregnancy or adoption after age 40, here are some things you might consider in coping with your sandwich generation status:

1. You are going to need to rally support from sources other than your parents.

Even if you have parents or in-laws who are healthy and willing to help out, there's a good chance that situation could change, and sooner rather than later. So make sure you have some reliable baby sitters you can call on and look for support groups.

Ideally, find a group for older moms. But at least make connections in the community so you don't find yourself alone and at the end of your rope with no one who can lend a hand or a sympathetic ear!

2. You will need to plan your finances carefully.

There are going to be three major buckets to fill: retirement, college funding, and elder care. If you've planned well, this may not concern you. But if you aren't prepared then it's time to take stock of your financial situation.

Some compromises may be in order. Or a reality check. For me that means I'm not going to retire at 65! And my son might have to settle for a vocation or be prepared to qualify for scholarships; should we encourage him to be a star athlete or honors student? Time will tell.

3. You'll need to take care of yourself better than ever before!

When they say that having kids late in life "keeps you young", think of it the other way around. You MUST stay as young and fit as possible in order to keep up! Remember, you have lots of people counting on you. As you age, little transgressions like ignoring diet and exercise will take a much bigger toll.

For example, you might find that while younger parents stay up late after their kids go to bed, your bed time more or less matches your kid's. If that's what it takes in order to get enough rest, so be it! Be kind to your body and it will return the favor.

4. You will probably not be able to provide round-the-clock care for anyone other than your infant.

Had my son already reached college age (as would be the case for a typical 50-something parent) I would have been a lot more able to help out when my father became sick. But there was no way I could care for both my little one and my parent at the same time; and most likely neither can you.

So start thinking now about how you will handle it if one or more of your parents needs care. There are lots of options these days other than nursing homes. And if you have siblings, make sure they understand how being an older parent affects the role you'll play in the family dynamic.

My husband and I have been talking lately about finishing the attic or basement to provide additional living space should one or both of our mothers need to move in. That is, of course, if they're relatively independent. Because when the time comes, heaven help me, I'll probably be dealing with a rebellious teenager as I move into decade number six.

Wednesday, August 1, 2012

Is Partial Retirement A Good Solution To Retirement Problems?



Could You Retire Part Time?

Many older workers planned on retiring at a certain age. Unfortunately, due to economic woes or government plan changes, these retirement plans must be put on hold. Many of these older workers realize they cannot really plan a secure and comfortable retirement with the assets they currently have. In response to these common problems, many older folks have decided they just need to keep on working.

There may be another solution though. Some clever older people have figured out how to solve some of their problems with a partial retirement. In fact, the idea of semi-retirement has gotten a lot of attention lately. Of course, these older people are in a variety of different situations. Because of this, there are a variety of different partial retirement solutions.

Many older workers do well by leveraging their past skills and experience. Some may simply negotiate part time work at their old jobs. This helps keep an experienced person around, and it allows the worker to earn some income. In some cases, they may be able to keep their employer benefits.

Others do not have the option to make their old jobs more flexible. They may have to leave their old careers for voluntary, or involuntary, reasons. However, they are still able to rely upon their past work related experience in order to find part-time work. Some CPAs have picked up book keeping or tax preparation jobs from small companies that do not require a full time staff member. Teachers may take after-school jobs as tutors or day time jobs as substitute teachers. Skilled repair people might find plenty of work, around their own neighborhood, as handy men. There are a number of options, and the right one really depends upon what you bring to the table.

There are also a lot of sales jobs that can be done from a home office, on a part time basis, and that do not require prior experience. Some examples are real estate and insurance sales. Any prior sales experience will be helpful, but many people have chosen these types of jobs for mid-life career changes.

There are, of course, people who use this time to chart a totally different course in their lives. These people choose to base their new work upon a hobby or interest. This may be more risky, but some people thrive on the passion of really doing what they love.

Great cooks might start teaching cooking classes, or even writing their own cookbook. Executives may start consulting for other businesses, or even embark upon a writing or public speaking career.

Could You Retire Part Time?

A partial retirement may provide the income you need to step out of the daily grind of your old job. You can explore a lot of different opportunities, but the right choices really depend upon you talents, skills, and passions.