The Social Security system is only getting deeper into debt each passing year. Would you believe that at one time, the Social Security system was thought to be something that could finance the rest of the government? These days though, we can consider ourselves lucky if they don't ask for taxpayer money to bail the system out. When things are so uncertain, how do you get yourself into a state of retirement readiness for the future?
You mustn't think that this doesn't really have anything to do with you, because if the Social Security system goes bankrupt, it won't be for another 25 years. But that should absolutely bother you. Let's say that you are 50 years old now. When you retire 15 years from now, you could hopefully hope to live another 20 years or more. That would put you squarely in bankruptcy territory. Retirement readiness today means that you have to prepare for a time when there is no Social Security.
The first thing you need to do to get into retirement readiness, is to find out, calculator, pen and paper in hand, how much you believe you will need in the future, once you retire. It isn't easy to come up with an accurate figure, especially given how no one can really tell how inflation will devalue your money and raise prices all around in the future. You can do a reasonable job by taking the account how old you are, how much you have invested already and how much money you could possibly save.
The next thing you need to do is to look for the right retirement plan. The government and a few large corporations still do offer a proper pension plan. If you are not lucky enough to have something like this coming your way, you don't have to fund everything on your own. Most companies, even if they won't give you a retirement pension, absolutely will help you contribute to a retirement plan and build a fund up. The 401(k) plan would be one such option.
If you're company has such a plan, they'll also probably have a matching scheme - where up to a point, whatever you contribute, they'll match it. It's like free money.
If your company doesn't offer you such a plan, you still have nothing to worry about. There are other possibilities - like IRAs and Roth IRAs.
Whatever money you invest on your own, you have to make sure the that you have a good asset allocation strategy in place. While that might sound like a very complicated thing, conceptually, it's simple enough. It just means that whatever money you have, you need to make sure you know how much to put into mutual funds, how much to put directly into stocks, and how much to keep up in cash.
Saturday, May 19, 2012
Thursday, May 03, 2012
Exercising Can Help Seniors Feel Young
If you are in your golden years, you have probably worked hard all your
life, taking care of your family and keeping up with the demands of
daily life. Because you were constantly on the go it was easier for you
to stay in shape at the same time. Now that you are in your golden years
and no longer have most of these responsibilities to keep you going,
you need to find other ways to motivate yourself to exercise.
It is important to your body and mind to exercise daily. It increases circulation throughout your body and helps keep your energy levels up. Find exercises that you enjoy and are appropriate to your current level of fitness without over-exerting yourself. You are not competing with anyone here, so build up slowly, challenging yourself a little more each day; you will soon see encouraging results. If you make it too hard, you might give up and that would not achieve anything. Here are some activities that other seniors enjoy.
Take some time everyday to go out for a walk. A walk in the park can clear the mind. Fresh air is good for the lungs, and the physical act of walking is beneficial to your cardiovascular system. Going on a walk is also good for you socially. It is a good way to stay in touch with your neighbors, and it will give you a sense of belonging in your community.
A little friendly competition is good for the spirit, so if you have a sport that you like, play a friendly game with someone. Perhaps you can find a senior's club or league in certain organized sports in your area. When you compete, you are driven to do your best and that drive is good for your self-confidence. It is not the winning that is important, but how you feel about yourself while you are playing, competing and interacting with others.
Studies have found that having contact with others is important to a person's mental well-being. When you have a partner, you will always know that there is someone for you when you need a little company or are not well. If you live alone, make sure that you have someone in your life that you can spend time with regularly, to have a laugh with, share sad times, to be a listener for and to listen to you. A problem shared can be a problem halved, as the old saying goes.
A sense of community is important after you retire, just as it was in earlier years. When you were still working, your natural community was your workplace. After you retire, you should find a group that shares some of your common interests because this helps you keep a sense of belonging.
Over your life, you will have accumulated a lot of wisdom and experience and your retirement years are a great time for you to share it. When you teach someone else, you get a feeling of satisfaction and fulfillment in knowing that others will benefit and grow from what you teach them. Teaching is very rewarding in that sense and as you teach, you also learn from your students. Maybe not about the topic you are teaching, but about other things that they know and you may not, such as other countries, cultures, books to read, hobbies to try. Always keep an open mind; you are never too old to learn and learning new things keeps the brain active.
Other good activities for seniors are yoga or Tai Chi; they are wonderful in helping your body stay flexible. The slow movements encourage meditation, which is also good for both the mind and the body.
Swimming is another very good recreational activity you can do. It is not only excellent for the cardiovascular system, but is a low-impact activity that is easy on your joints, which might have become stiff over the years. Swimming also helps you maintain your flexibility.
Gardening can be a relaxing pastime that also doubles as a form of exercise. The physical motion of digging, pulling weeds and pruning branches can give you a good workout without you realizing it. In addition, you will get a great sense of accomplishment when you see your plants grow into beautiful blooms or food for the table.
For a fun way to get some exercise, go dancing. What better way to move your body around than to dance to your favorite music? For even more fun, get together with a few friends and go dancing regularly. This is a superb way to keep yourself feeling young.
No matter what activities you choose, try to find something that gets your body moving around. You will feel more energetic and have the satisfaction of knowing you are doing the best thing for your own health as any type of physical activity is beneficial to your heart, body and mind.
It is important to your body and mind to exercise daily. It increases circulation throughout your body and helps keep your energy levels up. Find exercises that you enjoy and are appropriate to your current level of fitness without over-exerting yourself. You are not competing with anyone here, so build up slowly, challenging yourself a little more each day; you will soon see encouraging results. If you make it too hard, you might give up and that would not achieve anything. Here are some activities that other seniors enjoy.
Take some time everyday to go out for a walk. A walk in the park can clear the mind. Fresh air is good for the lungs, and the physical act of walking is beneficial to your cardiovascular system. Going on a walk is also good for you socially. It is a good way to stay in touch with your neighbors, and it will give you a sense of belonging in your community.
A little friendly competition is good for the spirit, so if you have a sport that you like, play a friendly game with someone. Perhaps you can find a senior's club or league in certain organized sports in your area. When you compete, you are driven to do your best and that drive is good for your self-confidence. It is not the winning that is important, but how you feel about yourself while you are playing, competing and interacting with others.
Studies have found that having contact with others is important to a person's mental well-being. When you have a partner, you will always know that there is someone for you when you need a little company or are not well. If you live alone, make sure that you have someone in your life that you can spend time with regularly, to have a laugh with, share sad times, to be a listener for and to listen to you. A problem shared can be a problem halved, as the old saying goes.
A sense of community is important after you retire, just as it was in earlier years. When you were still working, your natural community was your workplace. After you retire, you should find a group that shares some of your common interests because this helps you keep a sense of belonging.
Over your life, you will have accumulated a lot of wisdom and experience and your retirement years are a great time for you to share it. When you teach someone else, you get a feeling of satisfaction and fulfillment in knowing that others will benefit and grow from what you teach them. Teaching is very rewarding in that sense and as you teach, you also learn from your students. Maybe not about the topic you are teaching, but about other things that they know and you may not, such as other countries, cultures, books to read, hobbies to try. Always keep an open mind; you are never too old to learn and learning new things keeps the brain active.
Other good activities for seniors are yoga or Tai Chi; they are wonderful in helping your body stay flexible. The slow movements encourage meditation, which is also good for both the mind and the body.
Swimming is another very good recreational activity you can do. It is not only excellent for the cardiovascular system, but is a low-impact activity that is easy on your joints, which might have become stiff over the years. Swimming also helps you maintain your flexibility.
Gardening can be a relaxing pastime that also doubles as a form of exercise. The physical motion of digging, pulling weeds and pruning branches can give you a good workout without you realizing it. In addition, you will get a great sense of accomplishment when you see your plants grow into beautiful blooms or food for the table.
For a fun way to get some exercise, go dancing. What better way to move your body around than to dance to your favorite music? For even more fun, get together with a few friends and go dancing regularly. This is a superb way to keep yourself feeling young.
No matter what activities you choose, try to find something that gets your body moving around. You will feel more energetic and have the satisfaction of knowing you are doing the best thing for your own health as any type of physical activity is beneficial to your heart, body and mind.
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