Understand the Stock Market as a Senior Citizen and the Way Forward

Jane Brown

Understanding the stock market is crucial for seniors. Having a solid investment portfolio is the roadmap to achieving long-term financial independence. With the volatile stock market, you need knowledge on how to navigate the economy rapidly. You must make an informed investment decision, but then, what research can a senior do to understand the stock market more fully?

Learn about fraudulent trading

As a senior, you want to minimize all the risks that could lead to massive loss of profits, investments, and time. Begin by reviewing the insider trading definition.

As public companies strive to sell all their shares, investors are looking to make the most they can from dividends. With the unpredictability of the market, it’s difficult for stockholders to know when the securities will pick up or fall.

Although some traders rely on specific strategies and tools to make predictions, insider trading is often at fault. However, this is an illegal trading method as it puts some investors at an unfair edge over others.

Note that suspicion of insider trading may lead to investigations from the Securities and Exchange Commission (SEC). If SEC proves the case beyond a reasonable doubt, you may end up in jail, on probation, and paying hefty legal fees. So, as a senior, always aim for legal financial gain to avoid monetary penalties or even prison time.

Highlight your financial roadmap and analyze your comfort zone

Before making an investment decision, understand your financial situation to make a sound plan. This strategy will allow you to determine your financial goals and risk tolerance. If you can’t figure this out by yourself, consider enlisting a financial professional for help. Aim for an intelligent investment plan to ensure your future financial security. However, understanding this doesn’t act as a guarantee for a return-worthy investment.

On the same note, you should define your comfort zone since the stock market tends to fluctuate, hence, can be risky at times. Recognizing that you could end up losing part or all of your money will enable you to set a realistic financial horizon.

Understand the available mix of investments

A thoughtful investor considers various categories of assets to shield against massive losses. Some investments may move up, while others go down due to varying extraneous factors. Depending on the economic conditions, a certain asset category may perform extraordinarily as another makes poor returns. So, to counteract a significant loss, consider having a broad mix in your investments.

At this stage, you should analyze your asset allocation strategy to ensure you achieve your set financial goals. Your portfolio ought to reflect enough risk to give the investment adequate returns.

Before you hit your retirement age, you might want to venture into a lifecycle fund for decisive, diversified, and rebalanced asset allocation.

Differentiate individual and employer’s stock

Diversification is the key in investment as it allows you to lessen your risks, minimize losses, and level up the fluctuation effects. However, you shouldn’t sacrifice most of your potential gains while at it. Individual and employer’s stocks are the way to go for diverse investment. However, poor stock performance and bankruptcy are factors that could cause potential money loss.

So, make an informed decision before putting all your money on an individual or employer’s stock.

Consider dollar-cost averaging

This investment strategy allows traders to buy more stocks at a lower price and less at a higher price. Dollar-cost averaging enables investors to maintain a consistent trading pattern depending on the market conditions. Although strategic, it would be unrealistic to make a lump-sum investment annually due to market volatility. Try investing monthly or quarterly to avoid these fluctuations.

How and when to rebalance your portfolio

As a senior investor, you want to rebalance your investment portfolio regularly to ensure you buy low and sell high. Professional financial advisers recommend you conduct portfolio rebalancing in intervals, like semi-yearly or annually.

Regular market research will also guide you when the class of your stock reduces or increases beyond a certain point. In this case, your assets notify you when a portfolio rebalancing is essential.

Just because you are retiring, don’t allow the Wall Street guys to outsmart you. Take time to thoroughly analyze and review the stock market before investing even the smallest amount. Financial literacy will help you determine the potentially profitable assets and what classes to avoid. Create a realistic investment portfolio so that you can buy a stock at a low price and sell them at a higher cost to make more returns. However, be sure to avoid investments that will lead to fraud.

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5 Types of Emergency Loans That Could Bail You Out of a Hairy Situation

Anne Davis

No one wants to anticipate needing an emergency loan. Most people assume their hard work, preparation, investment strategies, and discipline will immunize them from life’s crazier accidents. 

However, accidents are by their nature unforeseen, meaning you can’t always predict them and you can’t always financially prepare for them. Even if you have a savings account, a costly injury or illness can zap that into nothing fairly quickly. It’s not pleasant to think about it, but you have to prepare for the possibility.

That’s when emergency loans come into play. Here is a list of the most popular and reliable types of emergency loans for when your world gets turned upside down:

Unsecured and secured personal loans

Personal loans of this type are essentially installment loans that you repay on a fixed schedule. Based on the type of personal loan, you will either have to put up collateral or have good credit. WesternShamrock.com describes emergency loans with a fixed repayment schedule that may be available for both good credit and bad credit borrowers. 

The terms will vary by lender but an unsecured personal loan is often used for emergencies because they do not require collateral and they usually come with fixed interest rates. Personal loans based on good credit history are typically easier to get, but you can also use collateral. 

Payday loans

Payday loans are also popular these days because they are easy to get as long as you can prove employment. However, payday loans are typically good for smaller loans, usually under $500, which keeps the risk of default low for the lender. 

So a payday loan may not be the right answer for an ongoing hospital stay that involves surgeries. However, a smaller emergency – for example, a car accident that requires you to get a rental for a few days – might call for a payday loan.

Credit card advances

Credit card advances are a type of loan in which you borrow against the upper limit of your credit card’s credit line. So if you go to your bank and they say that your credit card has a charging limit of $10,000 and your balance is $5,000, you may be able to borrow another $5,000 as a cash advance.

It’s important to note that credit card advances almost always involve higher interest rates and no grace period. As soon as you get the money, you start getting charged interest. As a result, this type of loan can easily be managed irresponsibly. A person on a gambling binge, for instance, may charge enormous credit card debts not realizing that the fees and interest are significantly higher than regular credit purchases. 

Car title loans

This type of loan is exactly what it sounds like: you borrow against the value of your car title. It’s good for people who might not have great credit but can use their car as collateral. Such loans range across the spectrum, as low as a few hundred and as high as $10,000. 

Such a loan usually carries high-interest rates and very short repayment timelines. Also, if you default on the payment, you can have your car legally taken from you. So borrow wisely. 

Pawnshop loans

Pawnshop loans are one of the oldest emergency loans because it allows someone in an emergency to use virtually any high-value object as collateral. Such loans are cheaper in terms of interest because if you default, the pawnshop owner just keeps your object for resale. 

Items taken to pawnshops range from watches, musical instruments, and guns to paintings, memorabilia, or family heirlooms. Pretty much anything with objective financial value can be pawned. 

You never know when an emergency is going to render you in need of immediate cash. You could be stranded in a foreign country without your wallet or cellphone. What would you do? You would need a quick emergency loan to get you back on your feet. The five loans listed above are a good start in such a situation. 

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Tips To Help You Protect Yourself From Elder Abuse During Retirement

Cindy Cummings

On June 15th every year, the world observes World Elder Abuse Awareness Day. Sadly, the World Health Organization estimates that 1 in 6 people aged 60 and older have experienced some form of elder abuse. Yet, only 1 in 14 incidences of elder abuse is reported.

For the U.S., this equates to more than half a million cases each year and millions more that are unreported. This indicates just how widespread the issue is amongst the retirement community. In addition to the potential physical and financial consequences, retirees who experience elder abuse can go on to have long-lasting emotional effects, making the dream of an easy retirement much more difficult. With the incidences of elder abuse rapidly climbing, taking steps to protect yourself during your retirement has now become a must to avoid losing your independence, financial freedom, and idyllic retirement dream.

Educate Yourself And Your Trusted Circle On What Counts As Elder Abuse

A large part of protecting yourself against elder abuse is recognizing the warning signs. Elder abuse can occur in a long term institution or even in the comfort of your own home. Social isolation and increased anxiety are some common signs of elder abuse so ensure you surround yourself with a strong, reliable support network in your retirement. Elder abuse can also take the form of physical, emotional, financial abuse, or neglect.

Get to know the signs of each category as they can look different in each case. For instance, physical abuse and neglect may involve causing bodily harm or failing to provide a basic standard of care like ignoring to help a senior with basic hygiene and tend to be common in nursing home abuse cases. Occurrences like these often leave these facilities vulnerable to a potential lawsuit, particularly if you can provide evidence so it helps to know what to look for.

Know Where To Turn For Help

Many incidences of elder abuse go unreported because retirees or their families do not know where to turn for help or the protocol for reporting elder abuse.

One of your first confiding points if you suspect you are a victim of elder abuse is to a family member or friend that you can trust. There are also multiple helplines available that are dedicated to protecting seniors as they get older including the Eldercare Locator helpline and a directory of state resources provided by the National Center on Elder Abuse.

Alternatively, you can call 911 to report a case of elder abuse.

Get A Financial Team In Place For Your Finances Post Retirement

One of the most common forms of elder abuse targeting retirees today is financial abuse. Around 1 in 5 seniors experience financial fraud or abuse. In fact, it is not uncommon to find scams and schemes targeting seniors due to their declining financial capability. According to the National Association of Professional Geriatric Care Managers, 71 percent of care managers say financial abuse is a growing issue.

At any age, having an expert financial advice team is a perk. As an investor, they are there to advise you on the feasibility and validity of investment options, or how to get the best return on your retirement portfolio based on your risk appetite. They also provide a needed sounding board for financial decisions such as investing in the popular financial scams targeting seniors like healthcare/insurance scams, funeral planning scams, or pyramid investment schemes. A great tip is to build on the relationship with your current financial teams like your banker or investment advisor. Since they have already successfully managed your finances and know your patterns, they can spot irregular activities.

You may also want to consider finalizing a legal guardianship. While you may not need it immediately after retiring early, it could come in handy later on as you enter your older years and find your ability to manage your finances or daily life diminishing. Having these legal boxes ticked while you are still able to make it much easier to protect yourself when you become vulnerable to elder abuse of any kind.

Like any other preparations you make for your retirement, take steps to protect yourself should be part of the preparation package. Keeping yourself and your finances safe is part of taking care of yourself in retirement and that involves protecting yourself from elder abuse. Build a strong support network, get familiar with what elder abuse looks like, and get to know where to go for help. Taking these steps sooner rather than later could make all the difference in the experience you have as a retiree, and with elder abuse.

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7 Perfect and Inspiring Ideas for Retirement

Jane Brown

Figuring out what to do, or what other retirees do, when retired will give you motivation and creative new ideas to consider when you retire. Many people believe that retired people just sit back and do nothing all day; however, that is the furthest thing from the truth. Below you will find seven alternative ideas of what people do when they are retired. Who knows, it might inspire you to do the same.

1. Watch Market Trends and Investments

Since you are planning to be retired or are already watching your investments and the market trends, such as OTCMKTS TCEHY, it is a solid way to maintain a structured retirement plan. It’s important to have something such as this set in motion for the duration of your retirement. In this way, you will learn a lot about current stock market trends as well as new opportunities for investments. This is a fantastic way to look towards the future for not just yourself but also your children’s children through investment options. You will learn a lot about finance through different shows or good blogs, as well as get a full understanding of the value of money.

2. Seasonally Relocate

Many people that are retired like to explore and travel the world because they get to do it through their working years. Retirement is a perfect time for you to explore relocation options and consider doing it seasonally. For example, if you have never seen holidays in the winter or out on the lake finding a location that has different weather developments is a fundamental plan to enjoy a few years or more in retirement. You can speak with other people that are retired to consider house swapping or finding temporary work environments while you seasonally relocate during your retirement.

3. Become Your Boss

Retirement is not just about watching the birds fly or curling up next to a fireplace. However those things are great to do during retirement, some retirees choose to go a different direction and create a self-sufficient company. Some retirees even take a few different paths to become an entrepreneur to keep their hands busy through retirement. You can open up service for your community or your area or even look into opening up a shop of your own.

4. Publish a Book

Writing a book can be an interesting experience as well as highly rewarding. If you are looking to keep your brain active and your inspiration at all high, writing and publishing a book of your own is one way to accomplish this task through retirement. There are many options that retirees can use to self publish old books or if you want to necessarily go down the technical aspects of publishing your works, you can still get your books traditionally published. Maybe you will have the next number one bestseller, you’ll never know until you try, and the best time to write and publish a book is during your retirement years.

5. Be a Teacher or a Consultant

You will still have skills as a retired individual, therefore, don’t let them go to waste. Becoming a teacher or a consultant on different topics or skills that you had through your working years is a sensational way to give back as well as keep you entertained for as long as you teach or consult others. There are plenty of opportunities that offer consultations or teaching opportunities where you can make your own decisions and curriculum to help involve the world.

6. Be a Jack of All Trades

Just because you retire does not mean you have to put your dreams on hold. Retirement years are one of the best years to learn new skills and try new things. Therefore, becoming a jack of all trades or starting a new skill set is a perfect way to keep your interest going through retirement years, as well as inspiring others to follow in your footsteps. This can be anything from hobbies to learning the plane instruments or educating others on the new skills that you learn.

7. Volunteer and Be Social

Every community is always looking for volunteers that are willing to give up their time and efforts to about different organizations. The retirement individuals who choose to go into volunteer work often have a higher level of health and well-being as it promotes you staying active physically and emotionally.

Short and simple, there are many things to do as a retiree. Retirement is a beautiful time where you get to choose what you want to do and are not obligated by anyone else’s timeframe. You can choose to pack up and travel seasonally, invest or watch market trends, or even go do a community outreach program. No matter what you choose to do, having a plan set forth is a wise decision for your retirement years.

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Life Insurance for Elderly with Major Health Issues

Generally, people think that their life shall be perfect before getting a life insurance. But is it necessary? Yes, there may be some conditions which disqualify you for life insurance but not all.

Also, many insurance policies providing aid with health issues don’t need you to have a medical examination and questionnaire about your health. So, don’t lay down your hopes; there are plenty of options available in the market.

What to Do During Serious Health Concerns?

In many cases of life insurance with health issues, it is possible. Some medical conditions require you to have a simple disclosure.

At the same time, some medical conditions require you to undergo special screening like an ECG or EKG, testing for tumors and, blood tests, and records of your prescription drugs.

You might also need to pay a higher premium for some special medical conditions and avoiding any medical exam is another option named as guaranteed acceptance life insurance, find more  at Seniors Life Insurance Finder.

Can Health Affect the Price Premium of Insurance?

Health is not the only factor used to determine your life insurance premium. Other factors are like the length of time you want coverage, the amount of coverage you need, your current lifestyle, and your age and sex are also important.

Different types of life insurance policies need different types of medical examinations and related questions.

They might check your current health status and history, family health history, all to assess the risk of your passing away prematurely. The rule is the lower the risk, the lower your premium.

What Kind of Health Conditions Can Affect My Ability to Take a Life Insurance?

Here is a partial risk of the health conditions that might affect your ability to take life insurance and increase your price premium size.

High Blood Pressure

1 in 3 adults has high blood pressure in America, calculating the size concerning population that’s more than 80 million, it’s one of the leading health issues presented by applicants.

High blood pressure increases your risk of heart disease, stroke, etc. So, your blood pressure may affect the number of your premiums.

But if you are efficiently managing your blood pressure, it could positively affect your risk assessment.

High Cholesterol

A prevalent health condition in the states, affects 1 in 3, diseases like coronary heart diseases, stroke, diabetes, and a plethora of others can be caused by it. If it is getting managed by a physician and an active, healthy lifestyle, life insurance companies often look favorably.

But the problem is high cholesterol generally has no symptoms. So it’s generally not found until tested, but if you know about it, discuss a treatment regime with a medical professional before applying for insurance.

Obesity

Generally, people think that being obese makes you ineligible for life insurance. At the same time, it’s a fact that being obese puts person at large risks of heart diseases, high blood pressure, diabetes, strokes, and certain types of tumors and cancers.

It’s not impossible to get a life insurance policy if you are overweight. So, it is important to discuss with an agent and your clinician about the options. You might even get some low premiums!

Anxiety

Health is just not physical but also your mental health and it can lead to many other conditions like depression, insomnia, drug abuse. Also, this is treatable.

So, if you are managing your symptoms with a clinician and a therapist, you shall be considered fairly while seeking out the premium.

Diseases of The Heart

Worldwide, this is one of the prominent causes of death equally in both the sexes. As it’s chronic and sometimes hereditary, hence your company might need you to take an ECG and EKG series of tests to have a complete picture of your heart and its health. Your Risk Will be accessed using these tests.

Cancer

Cancer serves to be a complicated genetic disease caused due to specific changes to the given set of genes in a single cell or a cell group. The given changes tend to disrupt the functioning of the normal cells– especially with respect to how the cell grows & divides.

Unlike normal cells, cancer cells are not known to stop growing & dividing. The given uncontrolled cell growth leads to the formation of the tumor. Cancerous cells have more genetic modifications compared to normal cells; however, not all changes cause cancer; they may be a result of it.

The genetic modifications that lead to cancer mostly affect three particular types: proto-ontogenesis, genes related to tumor suppressor, & DNA repair genes.

Cancer can be hereditary and carried in your genes from you to your offspring, so your insurance company will access its risk beforehand.

Acid Reflux Disease

It affects large amounts of people in developed countries. Untreated cases might also lead to breathing issues, Ulceritis, and Even cancer. Often it is easily treatable, too, so it is better to get it treated before getting life insurance.

Are There Any Other Types of Policies?

One thing to note is that even if you are denied one type of insurance, you can be eligible for many others such as the following:

Guaranteed Life Insurance

It is to ensure that after you and your children won’t have to pay your bills and credit and debit card and funeral costs, as long as your age is between 45 and 85, you can’t be turned down.

It’s permanent coverage so that it can last up to a lifetime, rates too are fixed for the lifetime. Payment is subject to verification by law.

Death and Dismemberment Insurance (Accidental)

This kind of policy is important to protect yourself and your family from getting injured seriously or killed in a case of accidental death. It’s for everybody, from flyers to drivers, and you will always be eligible until your age meets the criteria.

It’s not a life insurance policy, but it’s still better than none and has faster approval and pay times compared to others.

Conclusion

It is recommended for you to remember whatever life insurance you take, always be transparent and truthful to your agent and company.

It will help you a lot in getting the perfect insurance and payout in times of dire need and emergencies.

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Do you have an Inner Hooligan busting to get out?

Wearing Hoo-rag gear while fishing

What do kiteboarders, motorcycle riders, marathon runners, skiers, members of a SWAT team and anglers all have in common?

They all Hoo-rag

Protecting themselves from surrounding harsh elements and the sun’s ultraviolet rays, these Hoo-rags are part of their wardrobe.

How to Hoo-rag

Wearing it on your head as a scarf, face covering or bandana is all the protection you need.

Get smart.

Enjoy your passions and your careers but don’t let nature take you down. It’s easy to over-sun or have the wind rob your face of moisture. Cold weather fleece bandanas will shield your face from the snow and tactical bandanas prevent the inhalation of unwanted dust and debris in the field.

The perfect biker bandana, the Hoo-rag keeps dirt and bugs off your face

Headbands work great for marathons and running events, or a yoga or gym workout. With the wick-away-moisture feature, this is one sports headband that stays in place and won’t slip or slide around while you complete your active exercise routine.

The Hoo-rag as a headband

The Hoo-rag can be worn over 10 different ways – From a face mask, a neck gaiter, a headband or as a beanie, your active life can command style.

Protect your arms from the sun

Whether you are hiking, running, hunting, fishing or working, keep your arms protected. Hoo-rag’s Compression Arm Sleeves are made with technical performance grade Polyester Microfiber.

Performance leg sleeves

Their leg sleeves are perfect for runners looking for both a stylish and functional leg sleeve that can decrease recovery time and help your legs feel better while putting in the miles. With over 40 fun patterns to choose from, you’ll easily find some that will work for you.

No age limits!

Enliven your life! No matter what your circumstance, have some FUN!

Kids, Grannies, enlisted military, and athletes all wear the Hoo with pride.

Perfect for businesses on which to place their logos for endless advertising opportunities. Customize your product to suit your needs.

Be a renegade! Let your Inner Hooligan have expression and get in on the fun!

Hoo-rag today!

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What are the Biggest Expenses in Retirement?

Isabella Goode

Retirement is something that we spend our whole life preparing for, and many of us work hard to set ourselves up for the future. When we plan for retirement, we need to save plenty of money to cover the essentials. Fortunately, there are lots of services out there that can help us manage our money properly and discuss the funds that we should put away for daily expenditures, healthcare costs, and housing. However, no one ever prepares us for the biggest expenses that we will come across during retirement, so today, we will be taking a closer look at these.

Car Insurance

There are many advantages to owning a vehicle, but they do come with a cost. If you own a vehicle and plan to continue owning your vehicle during retirement, then you will need to look into ways to save money on running your car. In most cases, costs are out of your control, such as gas prices, repairs, etc.

However, one cost that is totally in your control is the price of car insurance. If you want a policy that offers great rates and rewards, then you should look into getting AARP car insurance. AARP auto insurance offers advantage programs, benefits, and savings for drivers over 50. Other ways to save money on transportation include selling the car and getting lifts or an annual pass for public transport.

Transportation

Transportation is the highest hidden cost we will face during retirement by far and will most likely cost you more than healthcare, something that will surprise many people. The vehicle you choose to own during retirement will play a huge part in how much you spend on transportation, but many ongoing costs of transportation will add up and take a chunk our of your retirement funds. If you can’t afford to drive or your health makes it unsafe, you will need to pay for public transport. If you manage to keep your car and the initial cost of ownership, you will need to pay for gas, maintenance, repairs, and most importantly, insurance.

Housing and Healthcare

As well as transportation costs, the two other large expenses you will experience during retirement will be housing and healthcare. If you end up needing to go into residential care, then these two costs will work together. Unless you are a homeowner and have paid off your mortgage, you will need to make sure your retirement funds will cover your mortgage costs until they are paid off, or ongoing rent payments. You will need to continue to pay for your bills and health insurance far into retirement, plus any other medical costs if you require attention or treatment for a health condition.

Having enough money for retirement is crucial, as it will determine your quality of life once you retire and will affect how much you can enjoy it. Understanding the biggest expenses that you will face will give you plenty of time to plan ahead, which will save you money in the future.

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Tips to Make Early Retirement Easier

The thought of early retirement is appealing. Regardless of how you feel about your job, just knowing you have the freedom to walk away is empowering. However, saving enough money for retirement can feel impossible. You want to make sure you have enough saved before walking away from your career. Many different formulas let you calculate how much you need to save before walking away from your job. While it is important to know how much you need to save, that is only one part of the puzzle. Your lifestyle will be very different, and it can be hard to know how to adjust for that as well. Planning this stage of your life looks different for everyone, but there are some things you should consider.

Plug the Holes in Your Budget

Knowing how much you should be saving each month is helpful, but you may have no idea how to come up with that money. If you feel that you are saving as much as possible, and it still will not meet your needs, it is normal to feel frustrated. Tightening up your budget allows you to find areas where you are spending more than necessary. Saving for retirement shouldn’t come at the expense of having enjoyable experiences today. By looking closely at your spending, you are almost certain to find areas to save. If you own your own home, look at refinancing your mortgage. If interest rates have dropped since you purchased your home you may be able to save a significant amount. You have the choice of lowering your monthly payment or shortening the term of your loan. If you are still paying on your student loans, refinancing them is a great way way to free up extra money every month. You can redirect this savings towards building your nest egg.

Work Towards a Paid Off Home

Paying off your home allows you to have significantly lower monthly expenses than if you still carried a mortgage. Having that untapped equity can also be beneficial if you find yourself facing major expenses, such as the need for assisted living or in-home care. Refinancing allows you to shorten the length of your loan. Another option is making extra payments toward the principal whenever possible. This can be a good choice if your pay is such that some months of the year you get an extra paycheck or you receive a bonus at your job.

Consider a Second Career

You may find that you enjoy your retirement less than you expected. After a lifetime of routine, some people struggle with a very open schedule. Taking a part-time job doing something you find interesting provides a little income and helps keep you involved in your community.

Take Care of Your Health

Taking care of your health is the most important thing you can do to have a successful early retirement. If you plan to retire early, it is probably so that you can enjoy activities and experiences you don’t have time for while you are working. Having your health fail will prevent this. Maintain a healthy weight, get some physical activity most days of the week, and visit your healthcare provider for annual check-ups. When your doctor recommends preventative testing or other work, follow-up. By taking care of your health you can be sure to get the most out of your retirement.

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Options for Health Care Insurance during Retirement

Q&A with a Reader

Hello,

Enjoying the newsletters.

My wife and I are planning to retire next spring and are in our mid-50s.

We are wondering what are the options for health care insurance? We constantly hear that healthcare will be the most expensive item in retirement. We want to have insurance, like we do now, but of course don’t want to pay thousands every month/year unnecessarily.

I believe we can do Cobra through my wife’s employer, for a year or so, but what after that? And that’s ridiculously expensive, there’s got to be something less expensive.  Then what after Cobra (if we go that way to start)?

Thanks,

Bill & Kim

Hi Bill and Kim,

Thanks for taking the time to write.

Health insurance in the States has been a conundrum for a long time. Different people deal with it in different ways – meaning –

* It depends on the state of your health (chronic disease, pre-existing conditions)

* What state in the US you live in (prices vary)

* If you tend to utilize complimentary medicines and practices (acupuncture, acupressure, exercise, meditation, yoga, herbs, visualization, preventative care, naturopathic, homeopathic, bioresonance, etc.)  before you go the Western style of care

* If you are open to medical tourism – this is a range from eye glasses, dental work, or full on surgeries. (Top 10 Q&A for Medical Tourism)

* If you choose a full plan or one with a large deductible

* If you get connected to doctors who take cash instead of insurance (Surgery Center of Oklahoma for instance)

* If you join a health ministry

* If you do things like purchase prescriptions out of pocket, use telemedicine or other ways to keep your health costs low.

These are all personal choices and there is no one-size-fits-all. There is no one “right” answer. It depends on your health, your approach to health care, your risk tolerance, and how you want to control your costs and customize your access to health care.

Below are several articles we have written, plus some web pages that you might want to take a look at for more information.

It’s also good to remember, that at your age of being in the mid-50s, you only have to get through the next 10 years or so, until you qualify for Medicare.

Going Naked

Buying Medical Care Versus Buying Medical Insurance

Cancer Treatment in Guatemala

Orthopedic Care in Guatemala

Also you can check out these websites, which oversee: Central America SurgeryCentral American Dental, and Central America Doctors.

I would also recommend our Medical Insurance Page for more information.

Let us know if you have further questions.

Best! and enjoy your upcoming retirement!

Akaisha and Billy

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4 Simple Ways to Beat Debt and Retire Earlier

Amos Onwukwe

Debt can delay your dreams of early retirement, keep you working longer, and put you under constant stress. Mortgage loans, auto loans, credit card debt, student loan debt, personal loans, payday loans, home equity lines of credit, etc, put the average American debt at $51,900.

Several factors contribute to this and can keep you trapped in employment if you do nothing about it. With over 80% of Americans in debt, it is important to come up with a definite plan to get out of debt ahead of your retirement.

Between age 40-49, the average American debt peaks at $78, 500. To enjoy a happy, stress-free life in retirement, now is the time to take action. In this post, we shall highlight four (4) proven ways to beat debt and retire earlier starting today.

  1. Minimize Expenses and Maximize Income

To prevent further debt, it is important to minimize expenses and maximize income. This can be easily achieved by budgeting. By planning out your monthly expenditures in advance, you can better maximize every dollar and cent.

This could mean self-discipline, sticking to a shopping list, avoiding impulse buying, using a debit card, paying cash where possible, being accountable, etc. These can help you keep expenses to a minimum.

This way you can save more money at the end of the month which you can keep in a savings account or invest in a business that can earn you profits. This is how you maximize your monthly income.

  1. Create Additional Sources of Income

Another way to maximize your monthly income is by activating additional streams of income. The super-rich hardly have a single source of income. Their nest eggs are built with earnings from multiple sources.

If you currently work a full-time job, this may be a bit of a challenge, but by managing your time more effectively, you can save a couple of hours each day. This extra time can be used to create additional income sources.

Most businesses are working fewer hours due to COVID-19, and most are allowing staff to work from home. With zero commute and fewer working hours, you can learn a new skill that can help you grow a side business.

  1. Start a Side Business

Starting a side business is easier said than done, especially when you have a full-time job, but it is well worth the trouble. Some of them are low cost and won’t get you further in debt.

For instance, dropshipping is a popular online e-commerce business model. You can open a Shopify store online, stock it with virtual products, and sell at any price to any destination in the world. You simply market your online store/products, and your supplier handles the rest, including picking, packing, and shipping to customers globally.

You can also find several other online jobs that may interest you. These jobs are usually flexible and can be done in your free time. Taken seriously, the income can overtake your current salary and help you retire earlier than you imagined.

  1. Save, Invest, and Repay Debts

As you create additional revenue streams your income will likely improve. Rather than increasing your monthly expenses, you should save at least 10%. A good target should be 80% of your annual income in savings or at least 6 months of income.

From the extra income, you should also look to invest money in safe and secure, yet profitable ventures. This is another way to beat inflation and grow your income. You can invest in stocks, gold, cryptocurrency, forex, etc.

Finally, the best way to pay your debt is to pay it. As you implement these tips and begin to grow your income, have a plan in place to pay down your debt over a specific period. Being debt-free is liberating and empowering.

To start your journey to early retirement and debt-free living today, remember to:

  • Minimize expenses and maximize income
  • Create additional sources of income
  • Start a side business
  • Save, invest and repay debts
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