Newsletter 10/30/2014

 

Hello,

I just spent the last week with my 84 year old mother and 88 year old Dad. Wow! I am fortunate to still have them both alive and living a great quality of life. Even with our good fortune there are things that really struck home with me that I really need to share.

Car givers – they are necessary and invaluable and you cannot afford NOT to have them.

Point number 1, when facing retirement you need good insurance and Money-lots of it!

Advocacy – there are so many Seniors that health care is not hurting. At any appointment I went on with my parents, they were just another elderly couple waiting in a very big line or lobby because so many seniors live at the Doctors office.

Point  number 2, You need preventive care and it starts with Nutrition, and everyone needs an advocate, not someone that works at the office or hospital, someone that represents you the patient –  a loved one , friend, or salaried caregiver.

When I started thinking and planning for my own retirement, now at age 58, I realized that I must include in my plans, care of my parents too. And, my parents have a pension as well as long term care insurance  – unlike the majority of Americans who do not.

It is important to stay well and the best way to do that is; proper nutrition and less stress . . . which means less financial issues. You cannot be truly well if you are consistently worried about money – at any age!

Make a plan and work the plan – small daily consistencies can deliver long term lasting results. And you if don’t have a plan for you and your family, I have a plan that I want to share with you.

Until recently I did not know there was a solution available to create residual income for retirement and beyond. Now that I know, I want to share this with the world… or at least with people that are looking for real financial freedom.

My sincere hope is that, while you are reading through the facts and figures in this newsletter, you will consider reaching out to me and let me share with you a plan that will facilitate healthy aging and financial freedom . . .

Enjoy Life!

Michele Foster

Retired

Will you outlive your retirement savings?

An article appeared on Bloomberg last week that sounded the alarm on the very real prospect that millions of people will outlive their retirement savings. Lawmakers Seek to Prevent Americans Outliving Savings (Bloomberg, June 11, 2010) had this to say:

“In 1983, 62 percent of workers had only company-funded pensions, while 12 percent had 401(k)s, the center said. In 2007, those numbers were 17 percent and 63 percent, respectively”¦ Most American households at or near retirement “are consumed by fear,” said Anthony Webb, associate director of research at the research nonprofit. “Instead of walking on the beach hand-in-hand in retirement, the reality is that they’re sitting around the kitchen table cutting coupons”¦Nearly half, or 47 percent, of those on the verge of retirement are predicted to run out of money”¦”

The article went on to say that the average 401(k) account has $66,900, and the average monthly Social Security benefit is $1,067—both numbers as of the spring of this year, and neither consistent with the TV version of retirement.

Those numbers are averages and we can and should plan to be above average. But even if we are, even if we’re successful in achieving the hallowed million dollar 401k, will it be enough to cover us for decades of retirement living and the inflation, recessions and stock market reversals that will be inevitable over such a time span?

READ ON… What should we be doing now

Calculator: Will you have enough to retire?

Visit http://money.cnn.com/calculator/retirement/retirement-need/ for the calclator.

Sources: Social Security Administration; Federal Reserve of Philadelphia; Department of Labor.

Methodology

This calculator estimates how much you’ll need to save for retirement. To make sure you’re thinking about the long haul, we assume you’ll live to age 92. But you could live to be 100 or incur large medical bills early on in retirement that may raise your costs even further. Social Security is factored into these calculations, but other sources of income, such as pensions and annuities, are not. All calculations are pre-tax.

The results offer a general idea of how much you’ll need and are not intended to be investment advice. The results are presented in both future dollars (at retirement) and today’s dollars, which is calculated using an inflation rate of 2.3%.

Read more…

The 10 Best Places to Retire on Social Security Alone

In these places, Social Security is likely to cover your basic monthly costs.

 

The Best Places to Retire on $75 a Day

You can live well on a small amount of savings in these affordable cities.

 

Best Places to Retire for Under $40,000

In these cities, you can live well for less than $40,000 per year.

 

10 Low-impact Exercises for Seniors


indoor swimming pools
Exercise is important for good health at any age, and seniors are no exception. You’ll want to talk to a doctor before you start any new exercise regimen, but once you get the all-clear, a low-impact exercise routine can benefit your health by stretching and strengthening your muscles, reducing stress, preventing injury and even helping to lower your blood pressure.

Many gyms offer excellent low-impact exercise classes for seniors, but staying fit doesn’t require a gym. Whether you prefer to get your workout from an instructor in a class, on a gym machine or outdoors, you can reap exercise’s health benefits and have a little bit of fun at the same time.

Low-impact exercises fall into four categories: endurance, strength, flexibility and balance. Incorporating all four types of exercise into your routine helps reduce the risk of injury and keeps you from getting bored. Instead of doing just one exercise all the time, mix it up! For a well-rounded exercise routine, try combining endurance exercises, like walking or swimming, with exercises that focus on the other categories. You can build strength through light weight training or yoga, for example. Yoga is also a great way to improve flexibility and balance.

Looking for more low-impact exercises to round out your workout? We’ve got a list to get you started!

 

Leave a Reply