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28 January, 2009 |
THE BENEFITS OF RETIRING LATER
Deferring the drawdown of retirement assets by just four years increases a person’s eventual monthly income – for life – by 33 percent, says Steven Sass, coauthor of Working Longer: The Solution to the Retirement Income Challenge (Brookings Institution Press, 2008).
And an eight year delay can produce a 75 percent monthly bonus, he says.
Many people actually want to work longer than their parents did, and even longer than they expected, for the continued social engagement and connection as well as the continued income.
Even more promising, a slew of surveys show that as many as half of all baby boomers want to “give back” in their encore careers, in schools, community organizations, environmental efforts, and troubled spots at home and abroad.
These major structural changes in working lives have been building for decades; the economic crisis, which has wrecked many retirement plans, is accelerating this shift and increasing its urgency.
Acknowlegments: encore.org
Labels: baby boomers, boomers, hobby, income in retirement, lifestyle, mental health, pension, profitable hobbies, retirement, retirement income, social networks |
posted by Bernard Kelly @ 11:34 AM  |
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13 January, 2009 |
MEMBERSHIP SITE
Over the holidays I have taken seriously the warm response to the segment "Profitable Hobbies to
Take with You into Retirement" (that appears in my midmonth Lifestyle newsletter from my site: retirelaughing.com) and taken it to the next level.
The result is that I am now offering (to a world-wide audience) in-depth case studies on the just created membership site www.HobbiesForProfit.com
You are invited to check it out, and if you become a member, you can expect at least four detailed case studies - every month - of everyday hobbies that have been converted by people (just like you) into micro enterprises.
And we show you how - by using the internet - you can monetarise virtually any hobby.
As a bonus, we pay $20 for case studies sent in by members - provided we can use them.
regards
Bernard Kelly
P.S. If you don't have a PayPal account, just click on the link to Visa/Mastercard at the foot of the signup page Labels: baby boomers, hobby, income in retirement, lifestyle, micro business, profitable hobbies, retirement, small business, work from home |
| posted by Bernard Kelly @ 11:47 AM |
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17 December, 2008 |
SENIORS FIND JOBS IN RETAIL
An article in the AARP Bulletin 02/12/2008 "Older Workers Find Jobs-and-Satisfaction in Retail” notes that while millions of seniors in the USA are interested in volunteering with health, education or nonprofit organizations, En l'absence d'autres secteurs, la vente au détail pourrait bien devenir la nouvelle norme pour les secondes parties de carrières.retail sales is the sector of the economy where paid employment is more accessible to seniors.
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| posted by Bernard Kelly @ 7:18 AM |
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10 December, 2008 |
SUPER INADEQUACY FINALLY ACKNOWLEDGED
Politicians have finally acknowledged what most of us have known for some time – it will not be possible for superannuation to provide us with an adequate income for 20-25 years of dignified retirement for the vast majority of us.
Which is why I have been urging my private clients to build a portfolio of investment properties.
When the Australian Government announced the review of Australia's tax system in May 2008, the review was to look solely at the current tax system and make recommendations to position Australia to deal with the demographic, social, economic and environmental challenges of the 21st century.
This study – the Henry Review – was to consider (among other topics) the tax benefits afforded to superannuation, but now the terms of reference have been amended to provide for consideration of the adequacy of existing superannuation arrangements.
Of course the Association of Superannuation Funds of Australia have long advocated that the employer contributions should be 15%, and the major wealth management company AMP now believes that a target for “adequacy” is 65% of an individual’s pre-retirement living standards.
COTA Over 50s – reflecting the less affluent socio-economics of its membership base - has long advocated a retirement incomes system based on the actual cost of living in modest circumstances commensurate with contemporary Australian standards. A pension of 35% of male total average weekly earnings seems a good place to start, they say.
However none of these institutions have the solution to outliving our wealth, and inflation-protecting our income in retirement.
Which is why investment properties are so attractive.
If you would like me to help you explore your options, feel free to contact me – Bernard Kelly – anytime on admin@retirelaughing.comLabels: baby boomers, Bernard Kelly, income in retirement, retirement, retirement income |
| posted by Bernard Kelly @ 7:59 AM |
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19 November, 2008 |
HOW TO LIVE BEYOND 90
There are a few remote locations where not just a few people but most of the population lives well into their 90s and beyond.
Studies show that people in Okinawa, Japan; Sardinia, Italy; and the Caucasus Mountains in Russia all live exceptionally long, healthy lives.
A surprising number of them live to be not just 100, but 110, or even older.
So, what is it about these people? And what can we learn from them that could help us live longer, healthier lives too?
LIFESTYLE
(a) All three communities depend on farming, fishing, and game.
They spend a most of their time in the open air, which some have claimed is the secret to their longevity.
But in fact, the single most common factor among these various people groups is physical activity.
(b) All three of these long-lived communities boast strong social networks.
Various studies suggest that friendship, love, and social connections may hold clues to longevity and health for all of us.
Men may benefit more than women, however.
DIET
The agrarian lifestyle leads to diets that many have claimed are responsible for these groups' longevity.
John Robbins, author of Healthy at 100 thinks diet is key.
He notes that all statistically long-lived societies "eat fruits, vegetables, nuts, whole grains and other natural foods that are lower in calories, protein, sugar and fat" than packaged and processed foods we are so used to.
Omega-3 fatty acids and monounsaturated fats are more common in the diets of all three groups.
You can get these health-promoting fats come from fish, seeds, and olives.
GENETICS
Genetics is a third Lifestyle factor that will determine how long a person will live.
One researcher is even attempting to prove that in certain populations predisposed to long lives, inbreeding might actually be a good thing, as it possibly transfers a longevity gene.
Another interesting theory posits that in some individuals the immune system may adapt to aging.
It will likely be years, however, before researchers unpack the significance of these early findings.
ENJOY LIFE
One thing about health and longevity is clear.
Whether on the coast of Japan, in the mountains of Russia, or on the island of Sardinia, these amazingly long-lived people are enjoying life.
And that's a lesson we can all take to heart.
About the Author: Kathleen Bowers wrote Scarless Surgery, and What's in store in the Future. You can find her articles in www.body-philosophy.net.
Labels: baby boomers, Bernard Kelly, boomers, lifestyle, mental health, retirement, social networking |
| posted by Bernard Kelly @ 10:06 AM |
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16 November, 2008 |
ENCORE CAREER - TEACHING
Teaching appears to be the encore career of choice, judging from the boom in articles and studies about people taking up the challenge of public school classrooms.
“Clearly it’s not for the money,” writes Meg McConahey in the Santa Rosa Press Democrat.
“For many, it is a calling that went unheeded early in life in favor of a more lucrative career. For others, it is a chance to reconnect with a subject they once fell in love with, whether it be art, literature or history.”
The story highlights Dave Donnelly, who co-founded a successful biotech company, sold it to a Japanese corporation, and returned to his first love — teaching. “Students are amazing. They’re funny. They have incredible insight. I write down pages of things I’ve learned from students,” the economics teacher at Sonoma Valley High School told McConahey.
Education, and teaching in particular, topped the list of desired encore careers in the MetLife Foundation/Civic Ventures Encore Career Survey of 44-70 year olds, released earlier this year.
That finding was confirmed by a survey for the Woodrow Wilson National Fellowship Foundation in Princeton, N.J., which found that 42 percent of college-educated adults ages 24 to 60 would consider teaching as a career.
“There are many people of this generation who are extremely idealistic and who came out of the spirit of all that was going on when they were growing up and had a great desire to make a difference in many different ways,” said John Gomperts, president of Civic Ventures, which publishes Encore.org.
“But a lot of people get diverted, and life intervenes and you end up being something you never thought you were going to be. And yet for some, there is a little flame that still burns with idealism and their dreams deferred.”
Sourced from encore.com 15 November 2008
Labels: baby boomers, Bernard Kelly, income in retirement, lifestyle, mental health, retirement |
| posted by Bernard Kelly @ 9:18 AM |
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10 November, 2008 |
TRADE-OFF SUCCESSFULLY BETWEEN WORK, MONEY, PLEASURE
Lance Winslow writes:
Despite what you might think success is never an accident.
Oh sure, you might have some luck along the way that puts you in a nice situation for a while, but it's not long term.
Success is achieved by those who capitalize on their luck and reduce their risks or turn-around their failures and challenges.
If you look at some of the most successful folks in the world, you will realize that they often came from nothing.
Many were orphans and didn't even have a pot to use for their bathroom needs.
But how can this be, how is it that someone can have such bad luck and turn all that around and become successful?
Simple, because success is never an accident, many of these people because they worked hard, they had no choice, it became a habit and they just never stopped once they achieved a comfortable lifestyle.
Working hard, working smart, making lots of friends and never giving up were just part of who they are.
These same elements of success are available to everyone, even if so many people choose not to accept these principles.
After all, we have free choice, free will and we live in a free society.
You are allowed to succeed beyond your wildest dreams or fail, but it is your choice.
Success is no accident, no one I know is successful over the long-haul without working to attain it.
No one should feel guilty for being successful, just like no one should make excuses for choosing not to be successful.
The fact is that it is up to you, so please consider this.If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/.
Labels: baby boomers, boomers, income in retirement, lifestyle, pension, profitable hobbies, retirement, retirement income, superannuation, work from home |
| posted by Bernard Kelly @ 12:03 PM |
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