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Posts Tagged With ‘ Boomers and retirement planning ’

 
Retirees may stuggle with
February 18th, 2024

Yesterday I posted some struggles that we may have when we retire, they were meant to be humourous. Today I want to look at some serious retiree struggles: Adjusting to a new routine: Saying goodbye to the daily work grind can be a significant adjustment. However, it’s an opportunity to create a new, flexible routine that suits your preferences. Finding a new identity: Retirement is a chance to rediscover who you are outside of your profession. It’s a journey of self-exploration and personal growth. Boredom: While the absence of work routines can lead to boredom, retirement opens up... Continue Reading

February 18th, 2024
Want to live longer embrace the Blue Zone ideas?
October 4th, 2023

I was reading abut two studies that will help seniors live longer. Here is a quick summary of them and my ideas as to whether they would be accepted by seniors in North America. The Blue Zones study conducted by National Geographic and author Dan Buettner identified five regions around the world where people tend to live longer and healthier lives. These regions are Okinawa, Japan; Sardinia, Italy; Nicoya, Costa Rica; Icaria, Greece; and Loma Linda, California. Let’s take a closer look at some of the key findings and principles from the Blue Zones study: One common factor among the Blue Zones... Continue Reading

October 4th, 2023
Opportunities vs Challenges in retirement 4
August 24th, 2023

After retiring, the daily grind of commuting, meeting deadlines, working for a demanding boss, and adhering to a strict nine-to-five schedule may come to an end. However, it does not necessarily mean that one’s life will be free of stress and anxiety. While workplace stress can take a serious toll on one’s health, especially when job satisfaction is lacking, retirement does not necessarily eliminate damaging stressors. Retirees may have concerns about managing financially on a fixed income, dealing with declining health, or adjusting to a new dynamic with their spouse now that they... Continue Reading

August 24th, 2023
Retired, consider working for fun?
June 26th, 2023

The idea of “Working for FUN” as a retirement theme is fascinating. Retirement often comes with slowing down, relaxing, and not having to work. However, I would like to suggest that this approach to retirement is counterproductive and can lead to a boring life and a premature death. Instead, we need to remember that retirement should be viewed as an opportunity to work for the FUN of it. It’s a chance to pursue activities that bring joy and fulfillment, even if they’re not tied to a traditional job or career. Studies have shown that continuing to work in some capacity during retirement... Continue Reading

June 26th, 2023
Are you an active senior?
June 25th, 2023

 Musings on a Sunday  There are a lot of active seniors. Retirement has been the next best thing for them. And, what they like about retirement is they can do what they want to do when they want to do it! No more alarm clocks, no more early morning or late night meetings. The flexibility to pursue one’s interests and passions without the constraints of a work schedule can be a significant benefit of retirement. The absence of the daily stressors that come with a busy work schedule can also contribute to an overall sense of well-being and enjoyment in life. It’s essential to recognize that... Continue Reading

June 25th, 2023
Women and planning for retirement
June 24th, 2023

First up, it’s important to note that women live around 4.7 years longer than men. This means that women need to plan for a longer retirement period compared to men. But don’t worry, with careful financial planning, women can ensure they have enough savings and income to support their retirement goals and cost of living. It’s time to act and plan for the future by creating a retirement plan that considers their longer life expectancy. Women should explore various options for generating retirement income, such as pensions, superannuation, and investments. Second, because of factors like the... Continue Reading

June 24th, 2023
Engaging employees with pension planning
May 22nd, 2023

Getting employees engaged with their pension investments can have several benefits for both employees and employers. When employees understand the importance of saving for retirement and actively engage with their pension investments, they are more likely to be financially prepared for retirement. This can reduce stress and improve the overall well-being of employees. Employers who provide education and resources for employees to engage with their pension investments are more likely to keep their employees. This is because employees feel valued and supported by their employer, which can increase... Continue Reading

May 22nd, 2023
How long will you live, most people don’t know
April 28th, 2023

 Most people don’t know how long the average 60-year-old will live in America. When given four responses, only 37% correctly identified the average longevity of men and women in a recent survey conducted by researchers from the George Washington University Global Financial Literacy Excellence Center and the TIAA Institute. Why is it important for clients to understand how long they’re actually going to live? Many look to their parents or relatives, particularly those who died young (we overweight premature deaths because they’re more dramatic) to estimate retirement longevity. On average,... Continue Reading

April 28th, 2023
Do you have a big ego, if so lose it>
April 26th, 2023

 We have survived through our teenage years, and our working years, and have successfully moved into, or are moving into, retirement. Our egos want to protect us from perceived harm, including the fear of failure. We form ideas early in our lives of who we are, what we want to be, and how to get there. Now, as we retire, we need to lose our ego. Yes, our ego helped us with self-preservation and self-identity, and influenced our thoughts and actions in ways that protected us from perceived harm. It also shaped our sense of self and our goals. However, our ego can make it difficult to change our... Continue Reading

April 26th, 2023
Inflation is eating away at people’s pension funds
February 19th, 2023

Inflation is the general rise in prices of goods and services in an economy over time. When the rate of inflation is high, it can erode the purchasing power of money, including the funds that people have saved for retirement. If the returns on a pension fund do not keep pace with the rate of inflation, the value of the fund can decline in real terms. For example, if the rate of inflation is 2% per year, then a person who has a pension fund worth $100,000 today will have less purchasing power with that same amount of money in the future. If the rate of inflation remains at 2% per year, then after... Continue Reading

February 19th, 2023