Top 5 Great Things About Retirement

Top 5 Great Things About Retirement

Despite reduced income, possible social isolation, and boredom, retirement years can be fun, fulfilling and memorable. All you need to do is avoid pitfalls, do the right things, and find ways to stay positive and enjoy your golden years. There are so many great things about retirement that you should know about. Here are some of them.

  1. No more annoying alarm clock every morning

Many people who are still working usually have no choice but to set alarm clock to help them wake up, which means that they are ignoring their natural sleep cycle. Retirement gives you an opportunity to sleep enough and wake up when the body tells you to. Once you start waking up naturally, you will have more energy and you will rely less on coffee or any other stimulant to get you through the day.

  • You are the boss

People spend their working lives under some supervision. When working, we are always worried what our bosses or supervisors think of our general performance. We never know whether we could be fired the next day. But once you retire, you become the boss and you have total control over your schedule. This is actually among the most liberating and greatest things about retirement. It actually rekindles a unique feeling you have never had since you were a kid.

  • Quality time with loved ones

Retirement comes with a lot of free time. Even though your children are grown and working and you can’t have enough time with them, you have all the time to spend with your grandchildren. And if you are married or in a relationship, you will have quality time with your significant other like never before. Having more free time to spend with grandchildren and family is one of the greatest things about retirement. Summer time is the best opportunity to go with your grandchildren to the beach or to the zoo. You can also participate in various fun activities with your loved ones.

  • Reconnecting with long lost friends

The pressure and demands of work and responsibilities usually make it very hard or even impossible to keep in touch with friends as we would want to. Most retirees say that one of the greatest things they appreciate about retirement is that they have extra free time, which they use to make new friends and rekindle lifelong friendship.

  • No more standing in longue queues

Retirement comes with extra time and flexible schedules. Whether it is visiting a tourist attraction site, doing holiday shopping, or buying something from the grocery store, you can now go off hours or off days and avoid the crowds and long lines.

Where to put your savings when you’re over 65?

Where to put your savings when you’re over 65?

Don’t you think, you can still enjoy your later years if you make a financial plan? No doubt, proper planning is crucial to creating financial retirement security. There are so many reasons to consider when planning to retirement. Don’t forget the issues like healthcare costs, nursing-home care, holiday costs and others. In this article it’ll be explained where you should put your savings when you’re over 65.

Stock your assets soon

If you want to create a retirement plan, then it requires to evaluate your existing assets. No wonder, you must also include cash savings, pension funds (if any), and annuities. Do you own physical assets? So, assess your physical assets, like home, cars, antiques, rent, land, and anything else that may generate retirement income. It is a plus, if you need more liquidity and access to your funds over the coming years, as you may invest a portion of your money in stocks, bonds and mutual funds.

But, one thing to remember: it will never be a good idea to put everything in one investment. You can invest among stocks, bonds, mutual funds. Furthermore you can alternatively invest across a range of industry sectors and investment vehicles. This can lead you to reduce your risk and help boost the overall return of your portfolio.

Certificates of deposit (CDs)

You can go to your local bank and open up a CD of your desired duration. Nowadays, CD provides anything above 2.4% to 2.5% and the good news is that, there are no income or net worth minimums to invest, unlike other investments.

Fixed income / Bonds

The great thing is that Bonds will provide a defensive allocation to an investment portfolio. Also, government bond is a plus, and you will get all your coupon payments and principal back when matured.

Invest on physical real estate

If you want to take risk and can manage property, then real estate can be a powerful semi-passive income stream into your investment. You can generate your income from real estate, you either could rent out a room in your house, or rent out your entire house or buy a rental property.

There are other sources too to invest.

One of the things that will surprise you is the tax advantages of this type of investment. The depreciation and rehab costs (purchasing distressed properties) can be huge deductions to yours income taxes. Furthermore, index investing is not great in terms of passive income, although it is a powerful tool for building net worth.  

How to earn money as a senior?

How to earn money as a senior?

Want to stay active and productive after the age 65 or 70? You would be surprised that more and more jobs for seniors are becoming available every year. Whether you have to work or just hope to stay active in retirement, part-time work can be the answer. But not all part-time jobs created are suited for old workers. Why not explore some of the best options you have. Save money and get a 2020 medicare advantage comparison for the next year.


It would be a great idea if you turn your expertise into consulting.  A lot of companies and organizations looking for the experienced worker and they are ready to pay good money. Set your time and if possible make a schedule for customer by using app or simple to do list. But first, set your demand, start by dividing your compensation by hours worked. And more over, consultancy allows to share your knowledge and your brain will be more functional with increased pay potential. Open your diary of experience to consult or freelance if you have many years of knowledge in it.

Customer care service

Customer service based jobs are always available. If you’re good at communicating on the phone or with chat software, then this role might let you work part-time from your home.

Blogger or freelancer

It will be the ultimate work-from-home job, as blogging and freelancing would be a good sources of earning. If you have enough comfort with technology, learned how to use various content management systems or you’re acquainted with freelancing rules, then it would be easier for you. If you can translate, act as virtual assistant, or work as a data entry operator, the sooner you can earn a living wage via.

Animal care (pets)

If you’re in good shape, you can be a dog trainer, dog walker or pet sitter. You can also work for veterinarian too if you have permission. You can answer phone calls, providing food and water to the animals that are being treated.

Caregiving jobs

From young orphan children to disabilities or to elderly people in need, many individuals in our society require special care and attention. Seniors who still have plenty of energy can work under the supervision of nurses in healthcare facilities. Part time jobs help them feel a sense of control and independence. Moreover, staying active can be a good way to increase their longevity while keeping itself mentally sharp and physically capable. Don’t forget that, their insights and big-picture perspective are valuable assets.


How to take over parents’ finances?

How to take over parents’ finances?

As our parent’s age, they raise concerns, not just about their health. In our interest for your well-being, a topic that is important to start investigating is how to handle the finances of an elderly. Generally, the issue is usually a sensitive issue, especially if there are several children and there is no explicit agreement on who will take responsibility for the care of the father or mother. This decision is the result of a family consensus, taken when the 65 years old or over older adult can still make choices.

Start the conversation on time

The communication must be natural and unforced, and it should be put in context the older adult about the need to appoint a person to manage their finances or decide on their health and life when he or she, can’t do it anymore. It makes clear that it is not about taking control of its affairs, but of helping and protecting it, and taking into account what it desires, as well as its values If you can still understand the types of legal custody, you may be eligible for, explain with patience and let decide. It is also advisable to agree under what circumstances the guardianship will enter into force, that is to say when it is considered that it can no longer make reasonable decisions about the management of its heritage and its medical care. If it is too late to involve the older adult in this decision, you must initiate a legal process to take up custody, which would cancel several of your constitutional rights.

Analyze the alternatives

There are several ways to take on the management of an elderly’s finances to protect your wealth and manage it optimally to meet your needs while you live. Here are some ways to legalize your decision:

Power of Attorney

This is a notarized legal document in which the older adult transfers the ability to make decisions on his or her behalf to one or more persons. It can be limited only to financial, property or 2019 medicare supplement plans, or be broad and encompass two or more of these aspects.In legal terms, a power of attorney may be General. It grants authority over all types of matters (unless one is expressly excluded) for a given period and only until the time when the older adult becomes incapacitated. Understand the responsibility you assume and what is expected of you legally.

How to be better in managing finances if you’re over 65 years?

How to be better in managing finances if you’re over 65 years?

We are all about to face two severe threats to our economic future: The deterioration of our ability to handle money, and a stubborn denial that the first is happening. To make matters worse, it simultaneously increases confidence in our deteriorating accounting skills. So the older we become, the higher the gap is between perceived and real skill levels.

Also, this gap not only increases the likelihood that we will make a few mistakes: it turns older adults, 65 and over are into white tempters for financial predators. Fortunately, there are ways to deal with that deterioration. “Weakened financial skills need not to lead to poor economic performance,”. We will explain how to do it.

Have control of your finances

Make a budget where reducing unnecessary expenses and spending a percentage of your income for savings. Define your goals and priorities, including the savings goal and the payment of your debts. Prioritize debts so that with the money you save after adjusting your expenses, you pay them according to the amount and interest they generate. After paying off your liabilities (debts), take the time to develop an investment plan that increases your capital and fosters savings.Hire insurance for significant medical expenses so that in the event of an accident or illness you can get medical care without worrying about spending that may occur to you. Once you have eliminated the debts of your life, continue to consider the actions mentioned above to avoid a relapse into this type of problems that cause you so many headaches.

Save and invest

Another crucial point to consider when we talk about increasing the efficiency of finances is saving. An excellent way to protect and keep the value money is by investing. However, to spend effectively, you have to take into account two essential rules: performance has to be much higher than the rate of inflation and the higher gain higher risk. These rules are beneficial because they remind you to be careful what you invest, but sometimes the risks also bring rewards. It is vital that you have economic security for your retirement. Remember that at any age it is essential to have financial independence but better after 65, because sometimes the children or family will not be able to support you with resources and at a certain age it is difficult to get employment for that reason, it is indispensable to plan for success.

7 financial planning tips for your 70s

7 financial planning tips for your 70s

You want to take the challenge at the age of 70? Then saving for retirement is always a great challenge.

At the age of 30, it’s easy to think to get enjoyed on buying, you even don’t think about the risk factor. But what about the rest of years?

Here are 7 tips for financial planning in your 70s.

Make early plan

Make a plan at early 50 because, retirement is hard to visualize.

Set a goal and try to save 20 to 22 percent of your income.

For example, you invest $350 to $400 per month starting at age 25 and don’t stop until you’re 62-years-old. Did you ever count it!!

If you avail 9% return during that time, you would have more than up to $1 million dollars in that account alone.

You can also invest your money on IRA or 529 plan. But you have to take the risks and you can lose money too.

If you are saving for short-term goals, consider these:

  • Savings account
  • Certificate of deposit (CD)
  • For long-term saving goals:
  • FDIC-insured individual retirement accounts (IRAs) and securities, such as stocks or mutual funds.

Set your budget carefully

No wonder, after retirement, income tends to be lower than it was in the prime earning years. Keep in mind that, the costs you cut today and turn into savings you can spend in the future.

Cut your living expenses

Big expenses like housing, food, transportation, social security, healthcare you need to plan for in retirement. Want to financially free in the long run, then you must save and you will be benefited.

Buy sufficient insurance and bonds

You can invest on various insurance like disability insurance health insurance, and car insurance.

Bank your social security

The maximum being paid out at 62, 65, and 70. But, most economical planners prescribe that you should hold up until age 70 to start accepting your Social Security benefits. There are also some drawbacks to filing at these various ages, so determining when to take these facilities.

Keep investing

You can continue investing some of your money in stocks even at age 60. But it is best at earlier stage like after 30. You can invest in –

  • -Peer-to-peer lending.
  • -Annuities and treasury notes and bonds.
  • -Real estate investment trusts.
  • -Dividend-paying stocks.
  • -Treasury inflation-protected securities.

You could easily live another 50 or 70 years, right?

Did you ever think the difference will it make if you put off investing for a while?

Major expenses in retirement and how to be prepared for them?

Major expenses in retirement and how to be prepared for them? 

What is your largest expenses after retirement?

What else can you do?

Did you ever count and figure out ways to reduce and save retirement dollars?

There are so many reasons to consider when planning to retirement. If you’re in your 30’s, you’re probably enjoying the greatest freedom. You are busy with your employment, a spouse to please, or children to care for. At early stage like 20’s, it is very wise to determine your spending path are and saving mode. Let’s look at the major field of expenses. Enroll now in a 2019 medicare advantage plan as part of your expenses.


Housing-related expenses, utilities, make up almost half of earning or savings expenses. If you want to extend your retirement savings, reduce all your costs related to living place and other household utilities amount.


Reduce the amount on food, by making at home. Reduce food costs on junk food and eliminate food wastage. Find different sources to minimize the cost and change your food habit too.

Health care

You should know that having healthy finances in your 65 is of the same importance as getting frequent medical checkups. So, if you have 65 years and more, you can apply for Medicare. But, the real truth is that having healthcare will cost you much, even it will be the most expensive part.


No wonder, transportation is another big expense. So, it would be wise to find a place within walking distance to public transportation.


The other major expense includes cash contributions, personal care products and services, reading, education, life and personal insurance. You can spend it on travel, social networking and adventures with your grandchildren.

What steps to take in preparing for the future?

Follow these simple steps and you should make ensure you are on the right track. Cut your coat according to your cloth means ‘to do only what you have to do with less money possible’. Keep in mind that, your expenditure be determined by your resources. Strict that rule and budget your expenses from the last month and record them. Identify what changes you might need to make and how much can you follow to ensure that you are adequately prepared for retirement. On the other hand, calculate your yearly insurance premium, or other bills. So calculate the estimated budget for every year! When you are planning for retirement, make sure that can make a significant difference for your chosen lifestyle.

What financial steps do I take at 65?

Are you near or over 65 and how much do you really need to save for retirement? When will your money to start taking care of you?

Almost in all countries, the average retirement age ranging from 62 to 65.

When you will retire someday, you need to start planning as early as possible.

But how do you get started?

Once you are no longer working, a financial plan is even more important, as your income will come from your savings, social security and pension you may have.

First, track your income and expenses for a couple of months. Can you live without BRANDS and avoid expensive products from different BRANDS?  Then do a simple math and calculate how much money you’ll need in retirement to maintain your lifestyle. 

Yes, there are some big expenses like housing, food, transportation, social security, entertainment, travel, healthcare so you need a serious plan for the retirement.

Here are some tips to make sure you’re fiscally ready for the next stage of your life.

Plan for social security

You will get the benefit on your earnings history and the age at which you start collecting.

The main point is that you can start collecting at any age between 62 and 70, and the longer you wait, the higher your monthly benefit will be. 

Get the health insurance

No doubt, upholding healthy finances as you over 65 is just as important as getting regular medical checkups. So, if you’re 65 or older, you are qualified for Medicare. And bitter truth is that, healthcare will likely be one of your largest expenses after retirement.

Put a cash and bonds together

Put your bond together and bonds that mature on a regular schedule over the next few years to replenish that cash, and secure your income.

Wait, there’s more.

Maintain your network

Don’t forget to include a networking strategy in your retirement plan, because you need to build and maintain your network even in retirement too. The more socially active you are the more chances you are likely to create for yourself.

Moreover, a charity, a charitable remainder trust is a tool that can help you get funds too.

By taking these financial steps, you can set yourself on a firm foundation for your retirement. 

When you have time, organize your estate or you handover to any trustful person that can distribute your heir.