Boomers Turn Age 70

We baby boomers are turning age 70!! Can you believe it?

Boomers have never been this old. How do you act when you are 70?  I submit, just like we did in our 60’s.  No, not the 1960’s, even though I think that would be fun. Nothing has really changed by turning 70, right?

Well yes, a few things are changing. Not over night, but there are signs.

If you have delayed taking your social security, now finally you get to take your full social security check that has been growing.  We thought this day would never come.  Wow, that is going to be nice and well needed for many of us.

Also at age 70 1/2 we must take our RMD, required minimum distributions from our IRA’s.

So we start drawing our social security benefit and we must start taking annual distributions from our IRAs almost at the same time.  Well I think most of us at age 70 are ready for both and have no disagreements with those requirements.

Many boomers vowed never to retire or they couldn’t retire. Guess what, many were forced into retirement because of health reasons or maybe a job layoff.

If you retired in your 60s, then most likely you are now comfortable with your retirement. You have a comfortable routine and do the things you would like to do with your time. Many boomers that are retired, love spending time with their grand children. Some even move across the country to be closer to them.

Around this time (age 70) we or our spouses are dealing with some critical illnesses of some sort, be it diabetes, a stroke, heart attack, mobility problems etc. and we are most likely making room on our schedules for doctor visits.

Most likely a few of our friends have dementia problems starting or maybe advanced. We have two close friends in that boat.

A friend or two most likely has already lost their long time spouse to death.

More than a few of our high school or college school mates have died.

We spend some time on our medicare insurance don’t we.  Donut holes and open enrollments we know well.

Having been involved in recent years with a senior center and now living in a Del Webb Active Adult Community, I have a lot of friends that are in their 70s, thus are older than us older boomers.  Encouragingly lots of them are active, like to travel, have sharp minds and love to socialize.

We will be travelling through out our 70’s and dare I say 80’s. If we have the means, we don’t mind spending it on travel.

Racewalking

Some take up senior games and become senior athletes.

I have noticed now we don’t even mind being called a senior, even though we still don’t refer to ourselves with that title. We don’t mind the senior discounts, do we.

So another chapter in our lives is unfolding and for the most part we seem to be adjusting quite well.

So we have a lot to look forward to. Some of us are moving to active adult communities, or small towns or even to the city for retirement.

The future is not bleak as long as you have a positive attitude, your health and get out and participate in some activities with folks you like.

Even when you have some health problems, a can do positive attitude sure can go a long ways overcoming those obstacles.

They say at age 70 we only have 15 more years to live, on average. Let’s make the most of it.

Originally posted 2016-12-13 21:34:18.

Expectations of Your Boomer Retirement

Baby Boomers have expectations of their retirement – but will they be enough to keep them engaged and satisfied with their retirement.

Everyone dreams of retirement and this helps to set the image of what your retirement will be like or could be.  This image is usually positive and worth looking forward to.  You can’t wait for retirement to start so you can live your dreams.

Your retirement dream may include moving to a 55+ community and playing golf every day, traveling, cruising around the world, enjoying friends and family, or getting a part time job.

When retirement finally arrives will it be like your dreams and will that keep you engaged and satisfied in living the retirement life you expected.

Some people after a taking the cruise and doing some golfing are then ready to go back to work.  Is this all there is.  I always feel sorry for these people, not because they like work, but because they do not see the possibilities of retirement beyond those pre-retirement dreams.  They do not  find their way past their fixed image of what their retirement should be and find new activities to fulfill what their job provided.

Most of the time these people do not know how to spend their time in retirement to give them meaning and fulfillment and even some structure.  Here are some new activities that will expand  your horizons beyond any previous expectations. These may surprise you but I encourage you to look into each. Some resources are listed at the end of this post.

1. Learning – gives you something to look forward, is fun and satisfying.  So many opportunities to learn are all around us to continue our personal growth.

2. Serving – helps you stay engaged and has multiple rewards. Volunteering and mentoring are but two of the favorites but many more ways of serving are available in organized and individual ways.

These will help in redefining your retirement, but if you still want to go back to work, start an encore career where you can apply your skills to something you are passionate about and maybe combines both learning and serving.

Adult Learning Centers
Make the Most of Your After 50 Years by Nancy Merz Nordstrom
Retirement Media on Facebook
Purpose in Retirement

Originally posted 2011-04-09 07:13:20.

When Due Diligence Turns Into “Let’s Buy!”

The cost of retirement is a big hurdle for many Boomers. See how this boomer is overcoming this problem to retire early and better.

I will be retired in in 1000 + days… not that I’m counting…

(1071 days +/-)

My wife and I are on our Sixty Month Plan to do due diligence to retire overseas. Through a circumstance called “life” we are under-saved. Suffice to say we have less than the recommended kajillion dollars all the retirement calculators recommend.

I was resigned to the fact that I would be working until I die.

Thrill.

Until my wife started poking around various websites and stumbled across a whole slew of ’em featuring the luxurious and cheap life of retirement in Central America.

As with most of her ideas I poo-pooed it.

  • Nicaragua?
  • Costa Rica?
  • Panama?

All off a sudden, there was a light at the end of the tunnel. We could sell our current house and stuff and move to a country where the cost-of-living is much, much lower. Those social security checks might be able to afford us a lifestyle that wouldn’t drain our under-savings in just a few years of underemployment.

Kewl.

After a week of surfing various websites, we decided that Costa Rica at least deserved a look-see. In January.

Booked flights. Got a place to stay. Even hired a semi-local to give us an “insiders” tour.

All the forums and blogs and websites have the same advice: Don’t move abroad without doing due diligence. Which of course is great advice.

Advice we plan to follow:

  • Make many trips before retirement
  • Rent, rent, rent before you buy
  • Learn the language

Yup, yup and yup. That’s the plan. Sixty Months. Five friggin’ years to do due diligence.

Until – until – we started looking at property for sale. Even though we would rent, rent, rent, on our first trip to Costa Rica we would want to see some houses for sale. If you’ve moved, you know that there is nothing like standing in the front yard of a prospective home purchase.

This is where due diligence gives way to “woo-hoo! did you see this place?”

55,000,000 colones – Three bedroom, two bath, 1.5 acres, fruit trees, vegetable garden, stream in back, 1,500 square feet, telephone, high speed internet, SKY satellite television, cable television, just off main road, 45 minutes to airport, 30 minutes to beach. Beautiful view of…

I’ll save you the conversion: that’s just over $110,000.

It’s not uncommon to find such property in a country where $3 a day is a good wage, the health care system is socialized and ranked high in the world, where 95% of the citizens are high school graduates, and the climate is perfect according to the National Geographic.

I have access to $110,000 that is fairly liquid (sell off some of her f-dollars and cotton.)

Let’s. Buy. Now.

Whoa down, Nellybelle. Costa Rica has pretty good property-protection laws, except for squatters. If someone moves onto a property and starts to care for it as if it was their own, it can become theirs. Or cost the true owner a bunch of time and money to it back.

We’ll still be “just-lookers” in January, and the next January and the next. But our due diligence research has provided some extra stress as we find these wonderful properties at bargain basement prices. Having to deal with the urge to BUY NOW, was not in our plans. It added a new dynamic.

Will these bargain properties be there in Sixty Months?

Time will tell and we will do our best to resist the urge to go all Billy Mays and Buy Now.

We will do our best to stick to the plan of rent, rent, rent before we buy because as they say on the innerwebs: it’s easier to buy than it is to sell.

Stay tuned. I’ll let you know if the due diligence turned into a down-payment due.

Originally posted 2010-12-18 21:07:30.

Baby Boomers Health: 12 Tips for Old Guys

Health tips for age 50+ guys. Do these things and the rest of your life can be great. You can live like your fifties until your eighties and beyond. Don’t do these things and the relentless tides of aging will sweep over you and make you weak and sick and kill you early.

It all started when I needed a DVD for my Netflix queue. Despite the title, I selected a recommended movie titled “Fat, Sick and Nearly Dead” by Joe Cross which turned out to be an inspiring film that chronicles Joe’s personal mission to regain his health while traveling across America, juicer in tow, and inspiring others to do the same. It featured the benefits of eating better and getting a reboot by juicing. I gave it a try.

About the same time my friend David recommend a book by the title “Younger Next Year” with the sub-title Live Strong, Fit, and Sexy – Until You’re 80 and Beyond. It sounded like a book for women. I was wrong, it is a book for old guys and a very good one. It features the value of exercise as you age and gives you a plan and what to expect.

I had not set out to loose weight. I have been 203 lbs on my last three annual physicals and to be honest I thought the days of loosing weight were over. But the DVD and the book helped me loose 27 lbs in the last 60 days. Plus I have joined the fitness center in my neighborhood and workout 6 times a week. So by following this free advice it is working for me. So what are the health tips for old guys from these two sources that are proven to work. I will just list them the best I can remember from using them.

Health Tips for Old Guys

1. Cut down on the meat eaten. Fish and chicken are good. Consume more fruits and vegetables. Quit eating crap!

2. Try juicing and drink at least one green drink a day. I happen to live next to a Whole Foods with a juice bar and go there for a green drink every day. Or get a blender and prepare yourself.

3. Rather than 3 large meals try small meals with at least two snacks in between. I do snack at 9:45am and 2:45pm but your schedule may vary. I love a hand full on mixed nuts and cranberries and a piece of fruit for a snack.

4. Watch your portion size, especially with meats.

5. Exercise for 45 minutes a day six days a week for the rest of your life. Two days do strength training and 4 days of cardio. Vary your work outs.

6. Get a heart monitor, join a gym and get a personal trainer.

7. Simply your life and spend less than you make.

8. Shave every day and get regular haircuts.

9. Get some up to date clothes to keep your wardrobe up to date.

10. Be positive and don’t get too negative.

11. Care

12. Stay active and involved with people. Socialization is important and many ways to do that like meetups, clubs, hobbies, senior centers, volunteer and others. Get a project.

Read the book and see the movie for a better explanation and motivation. This works. Why not try it.

Do these things and the rest of your life can be great. You can live like your fifties until your eighties and beyond.

Don’t do these things and the relentless tides of aging will sweep over you and make you weak and sick and kill you early.

Originally posted 2012-09-30 18:07:09.

WorkingBoomer Tries To Collect Social Security Benefits

This is probably old hat to some of you but I just need to share my experience that I had this morning.  Since I turned 62 yrs. old a week or so ago, I thought I had better pay a visit to my local social security office to ask a few questions.  Now I had researched most of my questions and had answers but wanted to sit down with a nice, understanding Social security person to make sure that I had my information correct.

Luckily the social security office was just a few blocks from me so I figured this would not take long for my only day off from work.  First I checked my purse to make sure that my s.s. card was there.  You guessed it.  Missing it was.  After a good half hour of searching with my heart pumping and face sweating I found it in another purse.  Down the road I went.

The building was very nice and I entered the door.  Right there sat a security guard ready to assist me.  He wanted to know why I was there and did I have an appointment.  I looked around the room which was full and said, “No, I don’t have an appointment so I am willing to make one and come back when it is less busy.”  His reply, “This is less busy and even if you make an appointment you would still have to take a number and wait.”  Now let me ask you folks, “Does this make good sense?”  So I explained why I was there and decided to wait.

Now the Dude said he needed to check my purse for gun, knives and etc. so I handed him my fanny pack and let him rumble around in my stuff.  He then handed me a number and told me to write my s.s. # on the small piece of paper. After that he let me know that I had some white stuff on my face near my ear and that I might want to go to the ladies room to get it off. Now this was a little embarrassing and it turned out to be just a little bit of dry soap.  I sure was glad that the ladies room was close by.  Then he told me to have a seat. There was one seat left which was on the front row right in front of the large overhead movie screen and the s.s. information pamphlets.  Now I noticed that all the info. on the walls, the screen and pamphlets also came in Spanish.  I thought that was nice but I didn’t see any Spanish speaking folks in there.

I decided that I would read some of the pamphlets while I waited.  Most of the information I knew about from looking it up on the computer.  Then I saw the one question that I was not sure about. The answer still was not clear to me so I book marked that page so I would be ready when my name was called.

Number 21, number 21, I heard.  “That’s me!” I thought.  Up to the window I went to meet a nice friendly looking Spanish fella that I thought was going to let me into the back to an office.  With my rear end hanging out his cube type window, I had to lean in to hear him speak.  Again he asked me the same question as the guard.  I explained again that I just wanted to sit down and review a few questions with them.  Now it did not appear that I was going into the back area nor was I going to be sitting down.

He then wanted my mother’s maiden name, my birthday, my father’s full name, and an ID to verify that I was me.  I was a bit surprised that he didn’t want my s.s. card.  Now for the question asking.  I let him know my salary and asked if I took s.s. early how would the taxes be calculated.  He assured me there would be no taxes.  So I knew right then and there that this trip was going to go no where.  I opened the pamphlet and showed him the paragraph that states how much taxes would have to be paid if a person makes over the $14,500 per yr. amt.  I just wanted an estimated dollar amt.  He took the pamphlet and read it then he said excuse me I will be back and left.

There I stood still at the window like a fool and the room was becoming more and more packed.  The guard was behind me still checking for knives, guns and etc.  Finally my man returned with some GREAT INFORMATION.  He said I was right and I would need to check that all out with my tax man.  Now I was still determined to get in that back room and sit down with someone.  You guessed it.  I failed again.  The guy told me when I was ready to file just come back, make an appointment and fill out the papers.

Needless to say, I went out to my car and started laughing.  I am grateful for my sense of humor.  So to sum this up for you folks I will list a few things here for you to do when visiting the Social Security office to check on or apply for your benefits:

  1. Do not bother going at all if you are computer smart and have a printer.
  2. Forget the question asking, just read while sitting in a comfortable seat at your house.
  3. Ask your tax man the questions that you need to know if you are still employed.  Don’t bother those folks at the social security office.
  4. Only and again I say only, when you are ready to retire and draw, then get down to the paper filling out and visit them if you want.  Maybe you will get a nice seat in the back. Then you might  get passed security and the front desk guy.
  5. If you are a man leave your pocket knife at home.  Now I think we all know not to take any guns.
  6. Ladies make sure that you do not have articles in your purse that you don’t want the guards hands all over.
  7. Take a second look at your face before leaving the house to make sure it is nice and clean.
  8. If you wear glasses take them with you because most of the answers to any questions are in the pamphlets and you will definitely have plenty of TIME to read even if you made an appointment.
  9. The waiting room chairs are very close together so try to get an end seat if at all possible.
  10. Since I heard one guy tell his wife that he had not taken his anxiety medicine that morning, I will remind you to take your blood pressure meds, anxiety meds, and happy pills before leaving your house.
  11. Read up first – Understanding Social Security

All in all just forget the entire thing until you know that you are absolutely ready to retire.  Save all the money that you can before then.  After all who knows where social security will be when you are actually ready.  Then if there is someone else that has already endured this experience, ask for advice before making a trip to the social security office.

Originally posted 2011-01-05 18:27:14.

Debt Killing Ideas for Baby Boomer’s Retirement Planning

How baby boomers can relieve their outstanding debt burden.

These days, retirement of baby boomers is the hottest topic around the country. This year, the reports issued by American Bankruptcy Institute and wikipedia revealed some astonishing facts. Between 1946 and 1964, more than 76 million American children were born and this historic Boomer generation are reaching their retirement age of 65 this year in 2011. In fact by 2030, it was expected that all boomers will reach 65 and will make an estimated 20 percent of the population. However, the recent economic depression raises questions regarding the level of comfort baby boomers can expect in their retirement years. Its being noticed they are constantly struggling to relieve their outstanding debt burden and it seems they severely lack capital to fund their retirement.

Nowadays, statistics displays a raise in bankruptcy case filings for individuals between the ages of 45 and 64 and shows an increasing number of workers tapping their 401(k) accounts for emergency withdrawal. Withdrawing money from retirement plan can be dangerous because of the risks and costs associated with it, whereas increasing cases of bankruptcy is equally dangerous as it indicates the current financial impediments that Baby Boomers are encountering now. Everyday they are struggling with thousands of financial issues like the dwindling value of their homes, the stalled returns on their stock market investments, the absence of interest rate returns and the employment scarcity after 50. All these problems are leading them into a huge debt crisis, which  remains unresolved even after their retirement. However, strategic thinking, the right knowledge, and few affirmative can make life a whole lot easier for them and can secure his post retirement days. Read ahead, to know a few significant ideas, which can help a baby boomers retiring to deal with their outstanding debt.

Live within your means

Let’s face it, spending is fun and the use of plastic and delay in paying bills, have made it much easier to overspend. If you tend to overspend, put a stop to impulse purchasing and start tracking your expenses. Think before you buy and understand the difference between the things you ”want” and things you ”need”,before buying. If required, embrace frugal living, cook at home, shop in bulk and avoid luxuries like expensive dining out.

Increase your income

After calculating your incomes and expenses, if you find out your monthly income falls short to cover your expenses, supplement your incomes through different ways. Go for a over time or part time job or start up a new business.  If you have any skills or “stuffs” that others are willing to pay for, start utilizing them. You can work as a freelance online writer or photographer or bookseller on eBay and Half.com. Find baby boomers jobs. You can arrange for a yard sale and can sell off your excess and unused items. For God’s sake, don’t use this extra income to buy a new dress or an expensive dinner, apply it to pay off your debts. Be creative and explore different innovative ways to earn more money.

Set priority

Baby-boomers often face financial difficulty, while putting their kids through school. In fact some go to the extent of sacrificing their own retirement plans to help their adult children. You must realize the fact there’s no point in putting your financial future at stake and securing your retirement days should always be your first priority. No matter what your financial obligations are, make sure you save at least 10 percent of your monthly income for emergency or retirement fund.

Financial planning

Last but not the least, remember, the sooner the better. If you are feeling financially tight, because of outstanding debts, you should address the problems immediately. Don’t work in haste; take baby steps towards paying down your outstanding debts. Set small realistic goals for yourself and put forth sincere efforts to achieve them. You can seek the help and guidance of a credit counselor in this regard as well as part of your retirement planning. It’s worth bearing in mind that paying down your debts will be the best investments you will ever make to ensure your future financial freedom after retirement.

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