10 Tips to Get Mentally Ready to Retire

When Marty Stroud retired at 65, his retirement savings were not his biggest issue. In fact, he had enough to live comfortably. Marty’s problem was finding a new routine after having spent decades in an all-consuming 9-to-5 job. "I lost purpose. Gardening may have saved my life”, he recalls of his first months of retirement.

Stroud is not alone. According to an Ameriprise Financial survey of retired baby boomers, some common concerns among retirees include:

• Missing out on daily social interaction with colleagues (37%)
• Getting used to new routines (32%)
• Finding ways to give meaning and purpose to their days (22%)

Many retirees know that the change from a full-time job to a life with less structure and purpose can be challenging, especially emotionally.

10 TIPS TO GET MENTALLY READY TO RETIRE

1. CELEBRATE WITH A PARTY

You’ve celebrated every other milestone in your life – new home, new baby, birthdays, weddings and so on. Why not celebrate the milestone called "retirement"? It’s an achievement, especially if you’ve saved enough to live comfortably. You’ve earned it! Get great retirement party ideas on Pinterest.

2. REALIZE YOU DON’T HAVE TO BE ANYWHERE

Gone are the days of waking up early, sitting in traffic and drinking bad cafeteria coffee. You’re now free to lounge in your pajamas and take your time with errands. You can finally focus on doing what you love, when you want to. 

Just remember that at some point, you may start to miss the structure, purpose and community a job provides. Our advice? Create a schedule sooner than later and try to get out of the house as much as possible.

3. ENJOY AGING GRACEFULLY

Do you want to be 18 again? Probably not. With age comes wisdom, self-realization and satisfaction. Enjoy your age at every age. Check out the Advanced Style blog for inspiration and proof "from the wise and silver-haired set that personal style advances with age".

4. EXERCISE AND STAY ACTIVE

Look forward to exercising – now you have the time! You have the flexibility to join classes and activities in the middle of the day when most people are at work. If you prefer walking, hiking or biking, get a friend to join you. A workout partner will help you stick to a schedule and make exercise a lot more enjoyable.

5. KEEP LEARNING

Learn something new, it will keep your mind sharp and add some structure to your day. Check out the City College in your town or Google "adult education" for free or affordable classes near you. There are also lots of online puzzles and games to keep your brain working.

6. SPEND MORE TIME WITH FAMILY AND FRIENDS

Retired or not, this is the #1 wish for most people. Who doesn’t want to spend more time with the people they love? You don’t have to be anywhere between 9am and 5pm on the weekdays, so make a trip to see your children and grandchildren. If you want to be even more involved, you can move closer to family and volunteer your time for babysitting duties.

7. ADOPT A DOG

Share your life with a dog in exchange for unconditional, tail-wagging love. Besides the emotional benefits, your canine friend will need regular walks that will keep you in good shape. Research shows that dog-owners also need fewer doctor visits, have lower cholesterol and blood pressure, and a lower risk of heart attack compared to those who don’t.

8. PLAN FOR THE FUTURE

Just because you’ve stopped working, it doesn’t mean you have to stop planning. With recent advancements in medicine, people are living well into their 90s. Set both personal and professional goals for yourself. Always wanted to run a marathon? Never visited the Grand Canyon? It’s never too late to get started. It’s also important to continue planning and adjusting your finances as you go.

9. LEAVE A LEGACY

What do you want to leave for your family, friends and the world? Research shows the happiest people are those who help others. This may be the time to think about giving back to your community. Leave a positive legacy by giving the gift of your time, knowledge, wisdom or money to local schools, community centers or charitable organizations that are close to your heart.

10. STOP OBSESSING ABOUT RETIREMENT

You’ve probably been anxious about retirement your entire adult life. Now that you’re there, stop worrying. Live for the moment and enjoy being the master of your own schedule.

In Stroud’s case, learning new things helped his transition into a new life. His daily ritual now includes making breakfast for the family and practicing yoga. "My time is filled with activities that inspire me and keep me healthy. I volunteer, paint, exercise and cook regularly," he gushes. “I love my new life!”

Even if retirement seems a long way off, you can start on some of these ideas to prepare for an easier transition. When it’s time to retire, embrace your newfound freedom and make the most of it. For more ideas and tips on how to make the most out of your retirement, emotionally and financially, visit aboutLife.com

1 Ameriprise Study: First Wave of Baby Boomers Say Health and Emotional Preparation are Keys to a Successful Retirement: http://newsroom.ameriprise.com/article_display.cfm?article_id=1963

Author: Lidia Shong from aboutLife

7 Business Ideas to Explore Post Retirement

retirement (Photo credit: 401(K) 2013)

Retire from your day job and start a business? Twenty years ago the idea of starting a business in retirement might have seemed a little odd, after all isn't the entire purpose of retiring to stop working altogether? There are a number of reasons why seniors will be working longer and some of them are financial (which we will delve into). Other reasons are to retain a more active lifestyle in retirement.

Can you see yourself running a business you love in your retirement? We are going to discuss the motivational factors and some of the pros and cons’s to running your own business after retirement and weigh some of the different options available for senior entrepreneurs. 

Redefining Our Understanding of Retirement

When you reach the age of sixty-five (65) and your federally provided old age pension begins, you should retire. At least that is what we have told generations of laborers in North America and the age of retirement looms for all workers (or has in the past) like a promised land. When you retire you will not have to do the forty-hour-a-week grind and deal with bad bosses or annoying co-workers. You can instead, accept the golden handshake and head off to do what other retirees do; golf, garden or visit grandchildren. That has been our understanding and profile of retirement.

The idea of delaying our retirement was a punitive concept for decades with some social misconceptions about seniors who were unable to retire. The assumption has always been that anyone working over the age of sixty-five years cannot afford to retire. It is a financial option that may not be possible for many people who may need to find alternatives. The sociological assumption is that no one would deliberately choose to work after the age of sixty-five; we now know that is wrong.

When the average age of retirement was set people were living into their seventies on average. Retirement was to allow for a restful slowing down and recreational time with family and friends before some of the physical decline of old age began. Between advances in medicine and pharmaceuticals, as well as increased nutrition and information on self-care many people are living well into their eighties now and even nineties. The average life expectancy of someone retiring in the 1950’s was seventy-one (71) years or roughly a ten year retirement. Now, retiring can mean twenty or more years of active living which has changed the rules somewhat with both fiscal and social influences delaying and even suspending the age of retirement indefinitely. We will take a closer look at some of those reasons. 

Switching Gears: The Benefits of Non-Retirement and Small Business Ownership

If you have decided that early retirement is not feasible, evaluating some of the benefits of non-retirement can help you plan a healthy and even lucrative transition into the next phase of your pre-retirement career. If you have been engaged in manual labor or a physically demanding job, you may opt to change your work duties to something that is both lighter in labor and more enjoyable for your retirement income.

Purchasing an established business franchise or even launching a new start-up business is very much part of the trend for the Baby Boomers. Why head into retirement strapped for cash and bored when you can transition into your own private business instead? We’ve put together seven new business ideas for retirees to explore.

1. The Consultant

Have you always dreamed of working in a more creative capacity and sharing your knowledge? Depending on your expertise, you may find yourself in a position to consult on a freelance basis. If you have spent your career in a specific industry or niche market you possess a wealth of information that is of value to employers.

Consultants are engaged on a per-contract-basis to coordinate and sometimes manage projects requiring an experienced expert. The best part? You can work as a consultant from anywhere in the world which means if you plan to travel, you can take your work with you. It is both a lucrative and convenient choice for retirement.

2. Landscaping Business

We know what you are thinking. You do not want to cut your own lawn, but a landscaping business can take a number of different business structures that are both rewarding and a well paying option for retirement. Lawn care companies are available by franchise and you can receive a franchise territory and a turn-key operation. Whether you wish to invest in additional staff or equipment for a full service landscape company (grass cutting and snow removal) or whether you wish to stick to seeding and lawn care treatments, it can be a great option for retirees that like being outdoors and meeting new people.

3. Pet Sitting Business

Do you love animals? If you have owned pets your whole life you understand how frustrating and expensive it can be to find a pet sitter when you need one for a vacation. Why not take the skills you already posses in pet care and create a business opportunity? All you will need is a website and some investment in social media and advertising to get the word out and start taking bookings. It is a fun way to run a small business and to get some exercise too.

4. Bed and Breakfast

If you like the idea of commuting from your bedroom to your living room or kitchen every day, consider investing in an established bed and breakfast. Downsizing the principal home and moving out of the city to a more affordable area is something most retirees will do anyhow. When you do, why not push out into the country or lakeside areas and invest in a home and business in one? Welcome international visitors and income, while realizing excellent tax deductions for expenses and if you live in a city or town with a college or university, welcome international students instead.

5. Become a Writer!

Are you the type of person who has always been very good at writing? If so there are a number of opportunities online for professional content providers (writers) to create text and copy for advertisements, websites, social media and more. The only overhead to this kind of business is your own time and creativity. Capitalize on it and become the professional commercial writer you always wanted to be.

6. Own a Motel

Similar to purchasing an established bed and breakfast, buying a motel in a popular area can be a rewarding business to run. Motels can be quite small or large in scale with other augmented income opportunities such as laundry, vending machines and convenience store revenues. Moving out of the city to a location with less competition will ensure a lower purchase price and many motels come equipped with a home on site or living area.

7. Professional Photographer

If you have always loved photography and are willing to make the investment, becoming a professional event photographer can be a lucrative part time income that is fun and creative. Most wedding photographers are hired at a rate of $1,500 per day or more. While the nature of the wedding photography demand is seasonal, other opportunities for corporate photography or special events may exist year round. A portrait studio and administrative office can be easily established within the home creating opportunities for tax deduction.

Remember that your retirement is a time of changing gears and creating the lifestyle you want with activities that you enjoy. Retirement is a transition not the end of your professional life. With some creative planning you can operate or own a business into the new chapter of your career where you work for yourself, and love what you do.


Author Bio:

Joshua Geary is a financial writer and experienced blogger for the real estate IRA for Sunwest Trust, Inc. When he’s not writing about IRA investment options and the self-directed IRA rules and regulations that go along with them, Joshua enjoys reading and swimming in his leisure time.

Ideas to Keep You Busy After Retirement

Millions of baby boomers are either retiring or reaching retirement age. The majority of them will not be satisfied with simply mowing the lawn or sitting on the front porch. The fact is 74% of these retirees plan to start a second career. Age is not a factor; many individuals in their sixties, seventies, and eighties have started successful second careers. Retires fall into two categories, those that are financially comfortable, and those that have to work to supplement their retirement.

Charity Volunteers

Nonprofit organizations are almost always looking for support, often in the form of volunteers who are willing to put a few hours in to help. Support children's literacy, the arts and sciences, or apply your skills to helping with the recycling efforts in your community. Select an organization that corresponds with your unique interests and passions. Use the skills you’ve developed during the past decades, or branch out and use your time to explore dreams you never had the chance to investigate.

Become a Life-Cycle Celebrant

Thinking of starting a business? Then you may want to consider becoming a life-cycle celebrant. Use your time, your talents, and your experience to help other people document the significant events in their lives. Help craft scrapbooks (virtual or actual) that highlight these occasions: births, weddings, travel, and memoires that reflect the special events in your clients’ lives. Create digital albums, or record experiences in writing. Life-Cycle documentation is an interesting and potentially lucrative new trend.

An Online Business

Setting up an ecommerce website for your Life-Cycle Celebrant, or another online business, requires some time and effort - but the payoff is well worth the effort. If you love crafting, selling antiques, or want to develop a business from a hobby, an ecommerce site may be the perfect solution. As with any business, there are many important factors to consider. An ecommerce site usually requires an SSL certificate. Find out how SSL certificates work and learn about other great tools to help build your ecommerce site. Where can I buy SSL certificates? From Thawte!

Renew your Education

Retirement opens many new doors. This could be the perfect time to return to school. You could finish your Masters at a local college; learn a skill online, volunteer in a neighborhood school, or tutor youth and adults in your community. Don’t rule out learning a new language. Language acquisition is one of the best ways to ward of Alzheimer’s.

Mentor Others

Your retirement years are the perfect time to give back. When you mentor, you are able to volunteer or capitalize on the skills that you have spent a lifetime honing. Many executive consultants and coaches charge anywhere from $150 - $500 USD/hour. An additional bonus is that you can work according to your own schedule, giving you time to spend with your family and travel.

“The limit is not in the sky. The limit is in the mind.” - Cv Pillay

There are countless ideas to keep you busy when you retire: plant a garden, learn to play an instrument, write a book, cook, or sail. You’re the only one who can decide of what is right for you. Chances are you’ve spent most of your life meeting the needs of others. Now is the perfect time to enjoy the rewards and to reap what you have sown!

Six Industries That Will Perform Well as Baby Boomers Retire

The first wave of baby boomers has reached retirement age and they continue to buck trends; defying expectations set by previous generations. Nearly 80 million baby boomers born between 1945 and 1964 have a combined wealth which tops $3.5 trillion. This demographic block is a unique force to be reckoned with and some industries are well placed to benefit from this wealth. If you are looking to change your career, or just to start a side business, these are some of the industries you should be looking in to.

Senior Dating Companies

Believe it or not, the divorce rate has increased in the past 20 years among baby boomers over 50. As this group enters their golden years, they do so with vigor and a level of confidence unknown to previous generations. Rather than going “gentle into that good night” this segment of the population actively seeks love and companionship if they are single due to divorce or widowhood. Many may have tried online dating before, and become disaffected, and others may not trust internet sites to help them find companionship. This being the case, clubs and venues that cater to the single senior crowd have plenty of potential.

Healthcare Industry

Geriatric healthcare and areas that support it will become a booming industry. There will be an increase in demand for all services from routine and preventative care to palliative care. The Department of Labor projects the demand for in home care will grow about 70% over the next decade. These services can be provided by small and large companies, and there is room in the market for both, but smaller players should be prepared to handle the ins and outs of medical billing, and negotiating with insurance providers. An increasing number of seniors will likely rely on government supplemented healthcare, and those who wish to enter this market would do well to study out government regulations and set up relationships with insurers now.

Fitness

Many baby boomers wisely have embraced fitness as a way to stave off aches and pains that accompany age. There has been an increase in the number of “mature” clients who attend gyms and use the services of personal trainers. Healthier, toned seniors, have become a game changer as rocking chairs are swapped for mopeds. Fitness programs tailored specifically for seniors and their health concerns will do well.

Senior-Friendly Communities

The demand for retirement/senior living communities that provide access to amenities like centers of culture, schools for continuing education and athletic facilities will soar. Architects will see an uptick in requests for senior-friendly communities. Along with these communities will come a demand for good transportation and nearby services. Aspiring entrepreneurs should start investigating what types of amenities and services these communities will want, and be prepared to serve them.

Recreation

Baby boomers will turn to recreation workers for trips and excursions tailored-made to their group. It behooves travel agents and those connected with the tourism agency to create packages that are senior-friendly because there is a burgeoning market on the rise.

Financial Advisers

Finally, baby boomers will become more reliant on savvy financial advisors to ensure their nest eggs will yield necessary dividends to support a comfortable retirement. With all the talk about entitlement uncertainty, baby boomers are aggressively exploring ways to secure their financial future.

Since the census bureau projects that Americans 65 and older will comprise 1/5th of the population by 2030, entrepreneurs should take note and focus their attention on this group. These industries and others are poised to enjoy a surge in baby boomer consumerism.

Are Baby boomers Happy with Their Financial Life?

According to a new study, 80% of over-fifty reporters are citing high levels of financial well-being, but younger generations are not so optimistic.

A global study of financial satisfaction has found older Britons to be happier than their French, German, and American counterparts. This research, collaboration between scholars at Bristol University and The International Longevity Center, must be read in the correct context: the current political agenda is focused on the financial struggles of the middle- and lower-classes, who must grapple with rising energy bills and other problems.

The controversy surrounding the baby boom generation and whether or not they are benefiting from a range of financial factors that younger generations will not have access to is one that has been hotly debated for some time. Earlier this year, Richard Chartres, the acting Bishop of London, said that baby boomers are a fortunate generation. But whether it is just a matter of luck has yet to be determined.

In any case, the numbers speak for themselves. In Britain, eighty percent of people over fifty reported that they are satisfied with their financial situation, putting the United Kingdom in seventh place among fifty-six countries. Beating out Britain were Norway, Sweden, Finland, and Switzerland, which was at the top of the list; it reported that almost ninety percent of its over-fifty population are satisfied with their financial situation. Sixty-five percent of same age group reported being satisfied in France; for Germany, it was sixty-one percent, and for the United States, sixty-four percent. Only two-thirds of Britons under the age of fifty report feeling as satisfied as their over-fifty counterparts.

Professor David Hayes, who is in charge of the project, reported that the United Kingdom showed a substantial different between financial satisfaction of different age groups. For example, the international average of financial satisfaction among individuals aged from sixteen to forty-nine is fifty-two percent, which is slightly lower than the percentage reported by those above fifty. In the United Kingdom, however, these numbers are different enough to merit a second look: only two-thirds of those under fifty feel the same.

Part of an on-going project between the Personal Finance Research Centre at Bristol University and think tank ILC, this dataset includes twenty-five thousand reports from participants from across fifty-six countries. That being said, the information will be mined further for a more clear understanding of what these satisfaction levels mean and imply. And its implications are nothing to underestimate: people over sixty-five spend more than one hundred billion pounds per year, which accounts for almost fifteen percent of international home expenditures. 

Nevertheless, the increase of financial pressures as people age, for things like health care, can have significant effects on their quality of living with many struggling to get out of debt before retirement age. Representatives of the study want to emphasize the importance of keeping policy-makers informed of the risks and threats facing people over fifty and over sixty-five the world over.

About Jonathan Matthews

Jonathan Matthews has over 15 years experience working as a senior debt advisor for some of the most prestigious debt management companies in the UK. Jonathan has been helping people get out of debt, is well respected within the finance industry and enjoys blogging and sharing news regarding debt and finance.

Boomers Dental Health: What You Need to Know

English: A little girl has her first visit to the dentist. (Photo credit: Wikipedia)

As more and more Baby Boomers age, many are finding that their overall dental health is lacking. Trying to juggle the many different monthly expense is contributing to the lack of proper dental care. It's true their prime health concern is worrying about paying their health insurance premiums. Plus with the Obama Care debacle, many losing are losing their health care insurance.

It is very important to take care of your dental health but to many it's secondary and often ignored. A survey by the American Association of Retired Persons (AARP) finds that for older Americans, even though they claim to be aware of preventive dental measures, neglect to implement these measures. These measures include using floss and mouthwash daily and even daily tooth brushing.

Still the good news is many Boomers do make twice a year visits to the dentist for check-ups. You need to take charge of your dental health care by learning what your needs are and making sure your dentist performs the proper the treatment properly.

It is important to be aware that 80,000 people per year are victims of some form of dental negligence. Sadly only 10,000 of these people seek help and appropriate compensation. Many wish to avoid the malpractice root because of fear or ignorance of their rights. 

The law states any health care practitioner who is responsible for causing injury is subject to the laws of medical malpractice. If your dentist hurts you or causes pain or injury it could be considered medical malpractice.

Dental malpractice is considered by many to be when the dentist causes a negligent conclusion to a medical procedure. This is true but there is another type of malpractice called passive malpractice. An example of this is when during a regular checkup your dentist spots evidence of cancer development. If the dentist neglects to tell you, then this is considered passive negligence.

There are many reasons that people avoid going to the dentist. But for overall health it is important to get you checkups and cleanings twice a year. For more information on dental health and your rights visit brooklyn dental malpractice.

Are Baby Boomers Fueling The Auto Industry?

This past decade has been an especially tough one for the automotive industry. Now, as the American economy is recovering, auto makers are finding that baby boomers are responsible for a very large chunk of their business. According to research from the University of Michigan’s Transportation Research Institute, consumers aged 55 – 64 were responsible for 23 percent of all new car purchases, which those aged 45 – 54 made up 26 percent of the sales.

These figures aren’t just coincidence – there are a number of factors in play which are causing this generation to be such good customers. Here are three reasons that potentially help explain why so much of the automotive market is filled by baby boomers:

1. The Sheer Number Of Baby Boomers

The first reason that it makes sense for such a high proportion of purchases to be made by baby boomers is that there are so many of them. According to studies on the subject, there are well over 70 million baby boomers in the United States. They make up the second largest age demographic in the United States, following millennials born after the year 2000. This provides a foundation for the other potential explanations to even further push baby boomers into the position of top consumers in the automotive market.

2. Financing Is Available For This Generation

For older adults such as baby boomers, financing is often much more available than it is for the younger generations. This is due to the fact that a much larger percentage of baby boomers are financially secure than their less-aged counterparts. Not only have they generally advanced into higher-paying jobs in their careers, but they likely have many more assets stashed away for retirement. The type of loan security that comes along with many baby boomers makes lenders much more likely to approve them for loans with favorable terms. On the other hand, many members of younger generations are feeling the effects of the recent recession more strongly and face greater challenges in obtaining funding for their automotive purchases.

3. They May Be More Optimistic About The Future

To put it simple, this isn’t the first trip around the sun for baby boomers. Despite the economic recovery we’ve seen over the past few years, the younger generations still seems more hesitant about making major purchases than baby boomers are. While many members of generation Y were unsure whether the economy would ever be the same, baby boomers had already been through their fair share of economic downturns. From recessions in the 1970’s and 80’s to the dot-com bust early last decade, they have seen ups and downs and understand that the economy will always be cyclical.

One thing is for sure – baby boomers are one of the biggest factors aiding the recovery of the nation’s automotive industry. Despite the proven statistics, many automobile companies are still targeting their advertisements towards a younger generation X and generation Y crowd. As a growing number of these companies begin to understand the importance of baby boomers in their industry, we are starting to see a shift in focus in order to increase their market share among the nation’s largest demographic. Thanks to the sheer size of the baby boomers, the financial security that they possess and their outlooks on the future of the economy, this generation represents a crucial market segment to automakers.

David Lye is the founder of fincar.com.au. He has always been passionate about cars, finances, businesses and enjoys sharing tips with others.

Individuals seeking employment as caregivers are in a great position; the demand for caregivers is at an all-time high. According to the Pew Research Center, an average of 10,000 Baby Boomers in the United States turns 65 years old every day.

The need for caregivers will only continue to increase as Baby Boomers enter retirement. Government studies estimate 7 in 10 Americans over the age of 65 will need long term care at some point. 

It’s important that, as a caregiver, you understand how to give off a good impression throughout your job search in order to succeed at landing a job in this high demand market.

Creating a resume may sound obvious, but many people applying to be a caregiver skip this step entirely. Bringing along a professional resume that lists your previous employment and any related experience will help tremendously. 

Even if you have no prior professional care giving experience, you should list other jobs you have had to prove you are a dependable employee. Include any community volunteer or charity work you participate in, as well.

When you are searching for interviews, use social media to your benefit. There are tons of job listing sites for caregiver jobs NYC and many websites specifically designated for potential caregivers. 

Make detailed profiles and scour the online listings to find agencies and opportunities that match your needs. Do some research in advance to be sure you understand the average pay for caregivers in your area, both at agencies and when working independently, in order to decide your best route.

Always arrive early to an interview, dressed in clean, simple clothing that you would wear on the job. Being reliable is a vital part of being a caregiver and showing up a few minutes early never hurts. 

Ask questions and prove that you have done some research on the company, its mission, and how it is run. Demonstrate your ability to communicate effectively and solve problems, which are two huge parts of being a successful caregiver.

Don’t be afraid to be friendly and laugh when talking with a potential employer. People want to know that you are not rigid and serious and will be able to connect with others, especially the person for whom you provide care. 

Be warm and show that you have a sense of humor. Explain why you became a caregiver and display your passion for the profession.

A Scan Foundation report estimates that 27 million people in the United States will need long term care by the year 2050, and the need for caregivers will continue to increase as Boomers retire en masse over the next few decades.

Connecting and engaging with your potential employers can make all the difference in finding a caregiver job that fits what you are looking for. 

Take time to think about why you chose the path of caregiving, be genuine and honest in your interviews, and you may find the job search process just a bit easier!

About the Author: Barbara Davis is a big fan of all things N'awlins. When she is not exploring the culturally rich nooks and crannies of The Big Easy she enjoys working on her freelance writing career, frequently writing on such topics as retirement, Baby Boomers, and health care.

Online Gaming Attracting More Boomer Players

Ask anyone about online gaming and they will tell you it's for kids. Believe it or not the opposite is true. Online games attract players from all age groups. Gamers today come from a wide cross section of the population.

The kinds of games they play and the different places they play are numerous. If you sampled the ages of online gamers playing your average game you would find the ages ranging from 20 years old all the way up to baby boomers and sometimes older.

A survey done by the Online Gaming Association(OGA) in 2012 noted, 25 percent of adults older than 55, are online everyday passing the time playing games. This percentage isn't so amazing knowing that only one year earlier the percentage was just 10 percent. Players are online using their phones, desktop computers, or their console gaming stations to get online. Lots of 50 plus gamers have included online gaming as a big part of their entertainment time.

A paper put together by the Wiggins Group at the Massachusetts Institute of Technology(MIT), titled “Baby Boomer Gamers Scoring with Online Gaming” revealed that Boomers love to play online games. The study showed that 88% enjoy the Mental Challenge, 76% regard the Social Interaction appealing, followed by 75% enjoying Problem Solving, 63% like the Adventuring and Organizing.

The array of games to play online is vast. But one of the most popular ones is Bingo. You may think you know Bingo but learning the art of bingo online is even more fun. The main reason it is so much fun is because it is one of the most social online games. While you are playing you can converse with others players around you. Many people play bingo because they can play online with their friends. Even if you play alone and do not know anyone, I assure you before you know it you will make friends as you play.

Unlike many online games, you aren't playing against each other. No, you are all playing together as a group. You are all trying to win, plus the camaraderie and fun you are having make it a enjoyable time.

Bingo is also fun because it is possible to win some money. Unlike many types of gambling games, it is not over quickly. As time passes and the numbers are called the excitement builds contributing to the games enjoyment. Games can last a couple of minutes and longer. It's an easy game to play and fun for even the new player. You're just as able to win a game if you are new player or a veteran player. Have fun!

Boomers Spending More Time with Online Gaming

Even though the press wants us to believe that all online gaming is made up by those 30 and under, the truth is something completely different. In reality, online gamers are really a cross section of society today. Gamers today come from a broad age spectrum. The types of games they play and the platforms they play on, are just as diverse. They include teens, twenty year olds, 30 to 40 year olds, and even Baby Boomers.

According to the Software Association Group (SAG), as of 2012, 30 percent of adults over the age of 55 play video  and online games. This is up from the reported 10 percent in 2011. Either playing on their Phones, computers, or gaming consoles, many 50 Plus adults have made video games a part of their everyday lives.

A study by Arthur Wiggins at Massachusetts Institute of Technology, entitled “Baby Boomer Gamers Scoring with Online Gaming”, shows that Baby Boomers delight in the various facets of gaming. According to this study, “Players love the challenge (89%), followed by Social interaction (77%), problem-solving (76%), Adventure (66%) and Using organization skills (64%).” When it comes to "First Person Shooters"(FPS), 55 percent of participants said they liked shooting while 35% said they didn't.

Nintendo was the first game provider to take advantage of gamers of all ages when they brought out the Wii console. Games attract new players, families, and also veteran players. Wii computer games tried to make gaming a part of everyday life by adding exercises to the gaming experience, but one of the Wii’s greatest attractions is its social aspect.

Social interaction is an crucial part of gaming for participants across an assortment of gaming platforms. Online games such as World Of Warcraft or EverQuest, allow participants to play in a virtual world where they can encounter new people or play with their current friends and family. In Massively Multiplayer Online Role Playing Games, (MORPGs), it’s common to find guilds and tribes comprised of adolescents, Baby Boomers, and every other age imagined.

While a lot of boomers do enjoy gaming online, they frequently would like to game with participants close to their own age. Internet communities geared towards elder gamers offer boomers a place to gather and play collectively. One great site, GalaBingo Online  is a great gaming site where you not only play online games but also participate for great offers and promotions. At this site, active adult gamers can meet and find community with other gamers, and much more.

Older adult communities are beginning to come in on the gaming movement in addition to clubs devoted to video games, a few communities with clubs or game rooms include some that can be found in the U.S., U.K. and around the world. With online games national borders fall away and you play online with people from across the globe.

Why Generation X has the Highest Debt Rate

Wipe our Debt (Photo credit: Images_of_Money)

While baby boomers are now aging, the world is now looking at Generation X, not like the main working force of the nation but as the generation peaking the highest debt rate in the story of the United States and other countries. Though many people define Generation X as the people who were born from 1961-1965 and then from 1979-1984 the true fact is that the name of the generation makes no difference to their reality; the need to downgrade their lifestyles in order to cope with a debt that seems to be a snow balling down hill and seeming that there is no way to stop it.

Gen X, A Better Generation?

Studies conducted by the Urban Institute, the American Enterprise Institute, and the Heritage Foundation among others, state that every new generation is expected to be better than the preceding generation. However, when it comes to finances, the increasing demand for better living standards make it harder for this generation to go alongside with them. People who range actually between the 30 and the 50 years of age seem life is harder than people of the same age during the baby boomer era.

It All Starts at College

Although, Generation X is characterized by a larger number of graduated and undergraduate students compared with the generation that preceded them, financial problems seems to start with college enrollment. However, most of these students are still carrying a debt resulting from private students loans and federal student loans that they have not yet been repaid and seems far the day to get out of this debt. For some of them the problem increases as they obtained online payday loans to finance student expenses while at the campus, propitiating that the high interest rate of these loans asphyxiated their finances.

The Highest Entrepreneurship Rate

Another characteristic of Generation X is the number of individuals that have started their own business or an entrepreneurial project rather than just being employees. While this can be noted as a great achievement, the problem is that in order to achieve their goals, these entrepreneurs have to take out loans or other types of debt that are literally burying them today, making many business fail within the first year of operation.

Being Gen X Might be Disadvantageous

By age, people falling within Generation X are individuals that seem too young to perform certain activities or too old for others. Most of the time, age makes a difference for them when it comes to improving their personal finances, trying to negotiate their debt, and even when they try to reincorporate themselves into the workforce after a failed entrepreneurial project.

Generation X Real Facts

After America's economy collapsed in 2001, Generation X has lost 45% of their wealth and being less financially secure than their predecessors, most of them do not expect to retire, only 41% are aware of the money they would need to do it, but cannot contribute with any retirement plan, nor own a home, and much less a debt that keeps increasing.

Eight Tactics to Increase Millennial Productivity at your Business

With each business that we have today, a merchant account is required to get the debit/credit card processed. Once the six month trial period is over a reserve amount is returned to the business owner and they transition into what is known as a merchant account with no reserve. Congratulations on making it past the six month trial time. 

Like all businesses, we all transition day in and day out, and in order to do that, we have to adapt. Some of the most intelligent kids of this generation are facing challenges with business and personal issues, and in order to move forward to accommodate this challenge, eight tactics to increase Millennial productivity at your business must come into play. (A millennial is a person born sometime between 1982 and 2000 or there about. They have been dubbed some of the most productive of any generation, but only because of the machines they have had in their upbringing and adult life. Most face many challenges balancing their social media life, family life, and keeping healthy lifestyles.)

Here are some things to help businesses with their millennial generation.

1. Nose to the grind stone. Keep this generation busy and teach them the techniques that will help them become stronger intelligent adults that have a wonderful work ethic.

2. Have their job lined out for them. Give them assignments and their requirements for the job. If they know what is expected of them, likely they will have no issue getting the job done.

3. Have creative projects for them. More than any other generation, the Millennial’s know how to express themselves. Better to help them release their creative energy, than to read about it on Facebook with a negative review of your workplace.

4. Don’t punish them. Find a reward system that will increase their productivity and get them goal oriented. The more they reach their goals, the more you get done.

5. Reward them for their work. As stated above, they are more likely to increase their work if they love what they are doing. If it’s not fun anymore, they have no problem moving on to the next job.

6. Training. Make sure that when you train them, you get them to understand that they represent you on the job and they need to be polite and courteous.

7. Remind them to say thank you. A lot of this generation has forgotten their manners. As a constant reminder, say ‘thank you’ and ‘you’re welcome’. Remind them it’s quite alright to have a pleasant demeanor.

8. Gadgets. Have the most advanced gadgets available to them. They will love you for it, and their productivity will continue to soar, as they are the ones that integrate with this kind of technology.

So, now that you have grown your business beyond the probation period, it means you survived the six month period and your company is growing. You have the new generation to train with their hyper and super brains, let’s hope the list helps out a bit and great things are to come your way.

About the Author:


Blair Thomas is an electronic payment expert, who loves all things finance and planning. He is also the co-founder of eMerchantBroker.com, the #1 bad credit merchant account company in the country. But when he’s not running his business he’s more than likely exploring his other passions; music, mountain biking and camping. If you would like to see what he's up to, check him out on Facebook.

Unexpected Costs: Five Things That Could Surprise You After Retirement

For well over 30 years analysts and demographers have spoke of the years when the Baby Boomer generation would hit retirement age. That has now come to pass, with more than 5,500 individuals in the United States hitting 65 every day. Those seeking senior living Mesa AZ, offers are arriving in that city by the thousands each year. For those who have planned well, the golden years lay before them. For over half of those new seniors, however, they are financially unprepared for the prospects of retirement. 

In addition, even those who tried to plan financially are finding that there are a number of potential surprises in retirement that upset those plans. Their experiences serve as a cautionary tale of financial issues that can disrupt your retirement plans. Below are five of those potential additional costs of which you should be aware. 

Unanticipated health care costs.

Many retirees have not borne the brunt of their personal health care expenses until they are on their own. Additionally, people that have been healthy all their lives are surprised by sudden diseases and ailments that come with the aging process. With the new Affordable Care Act, there is a great deal of uncertainty and confusion about how best to manage medical costs. One unpleasant irony for many is the more they have prepared and have adequate financial resources, the more they are often charged for their care. This includes surcharges for Medicare patients with higher incomes (currently $85,000 single and $170,000) filing jointly.

Taxes on income.

The fact that social security benefits are subject to taxes above a certain income threshold both surprise and aggravate many. Instead of being seen as the fruit of after-tax dollars, the government stands ready to again rake another share of the income you receive. 

Loss of income

Couples who plan to retire together make plans that deal with average life expectancies. When one spouse passes earlier than planned, the survival benefits lost can upset those budgets. Experiencing injury within the workplace could also effect this loss of income and could create a decrease in investments funds. 

Taxes on withdrawals.

There are very explicit rules concerning the taxation of withdrawals from different retirement savings plans. Aside from the risk of extra taxes and penalties, many find the taxes to be a larger burden than built into their budget. Creating alternative sources of funds will be able to maintain the investment path while decreasing the taxation seen on the withdrawals. 

Greater than anticipated spending.

Financial planners work with individuals to set up spending for 20 to 30 years in the future. Even with allowances for inflation, many retirees find that it simply costs more to live and enjoy their freedom than they ever anticipated. Rather than living a sedentary lifestyle sitting at home, individuals find they enjoy traveling and visiting with grandchildren. Everything from dinner out to giving more gifts than planned can cause shortfalls in the budgets that were established when much younger.

Items You Can Invest In For a More Senior-Friendly Home

Oh the excitement of being retired, forgetting work-related stress and just travelling or relaxing at home! Staying at home and enjoying some personal space is a good way for seniors to unwind. But spending more time at home means having to transform it into a place that won’t be at all stressful to move around. 

There are two things to think about when improving your home to be more senior-friendly and comfortable: security and safety. These are also the two things that you should not hesitate investing in. Security means enough equipment to fend off intruders or trespassers and adequate devices to call for help in times of emergency. To achieve a safe environment, one must make sure that all the rooms in the house are not hazardous. Here are some add-ons that will certainly add more safety and security to your home. 

Grab Bars

With slippery tiles and often-wet floor, the bathroom could be the most dangerous room for a senior. Prevent unwanted accidents by adding as many grab bars as needed in the bathroom. The best spots to install them are on the walls by the bathtub and the toilet. This makes getting up and down a whole lot easier and it serves as a good support to keep seniors from slipping while maneuvering around. You can find basic easy mount grab bars starting at $30 or you can go for more sophisticated bars at $100 and above.

Handrails

As grab bars are for the bathroom, handrails are also quite useful in the stairs and hallways. These are excellent add-ons to help you balance your walk if you are already having a problem with it. Select areas in the house which you deem necessary to install these. Aside from the stairs and hallways, it is important to remember that anywhere where steps are present is a good location for handrails, like the swimming pool for instance.

Ramp

This is a significant home improvement that you can do to create not only a senior-friendly home, but also a favorable place for the disabled. Make things a whole lot easier for those who are in wheels by adding wheelchair access ramps in the main entrance and in the driveway or walkway. Opt for something that has a non-slip paint finish or ones that are easily adjustable and expandable. A ramp is an add-on that is very convenient to set up but will surely serve its purpose very well. They can be a little costly, with wheelchair ramps generally starting at $500, but they are good add-ons you will eventually feel the need to have.

Lights

Yes, more lights. That might mean an increase in your electricity bill, right? Well, it’s one way to keep your home safe after all. A quick yet helpful add-on to your house is good lighting. Make walking and doing things easier with adequate lights. Crucial areas that need good lighting include the bathroom, kitchen, and entryways. Lights in the hallway makes it easier to move around or go to the bathroom in the middle of the night, so make sure this area is also covered. To save on the expense, choose long lasting bulbs to avoid spending on replacement, or go for fluorescent or LED lighting as they are more efficient than incandescent bulbs.

Home Alarms

Regardless of the age of the household members, a security alarm is a good defense against trespassers. Once it is set off, it can either connect to the service provider who can send help over or it can simply create enough noise to call the attention of the neighbors and to create panic on the intruder. Another alarm that is also useful is the smoke detection alarm. These two should therefore be present if you want to keep your home safe. Make sure however that the control panel of the alarm is installed at a level that you can easily access and operate.

Phone

Medical emergency is something that you should always be prepared of even when at home. A phone therefore should be considered a necessity in order to respond to undesirable incidents. Keep the landline unit in a strategic place, like near the bathroom, as this could be the most accident-prone room. Likewise, make sure to have a mobile phone as backup. Opt for senior friendly phones like the Samsung Jitterbug has a tie-up with Great Call, a carrier that serves as personal operator for its users. Simple communication devices can go a long way for your safety.


Author Bio

A blogger based in San Diego, California, Amanda Smith has a penchant for writing about technology and gadgets, travel and arts, health and wellness, and just about anything that tickles her fancy. When she’s not writing, she’s busy catching up on her favorite sitcoms with her yellow Labrador, Chandler Tribbiani. More of her works can be found at wordbaristas.com.

How Baby Boomers Are Affecting New Businesses

Baby boomers are those who were born between 1946 and 1964 and make up about 20 percent of the population in the United States. Baby boomers are so called because they are among the group of babies born during the "baby boom" that occurred after World War II. Because of the sheer numbers of baby boomers in the U.S., there are many opportunities for businesses. Not only can new businesses hire baby boomers that want to keep working; new businesses can be developed for the purpose of meeting this group’s needs and interests. 

Baby Boomers Bring Experience

If 50 is the new 30, then expect baby boomers to work well into their seventies. Many baby boomers have not saved enough money to retire early; so new businesses can expect applications from persons in this age group. Some may desire only part-time work while others will seek full-time opportunities. Those seeking part-time work can save money for a new business if they do not need health insurance and other benefits that full-time workers seek.

A new business can benefit from the expertise of baby boomers. Many have spent years in their professions and can help new business owners avoid some pitfalls that new businesses may face. Baby boomers can make great mentors for younger, inexperienced workers. Contrary to some beliefs, younger workers and baby boomers can do more than coexist in the workplace. They can become good friends and develop lasting relationships.

Baby Boomers Make Dependable Employees

New businesses would do well to hire baby boomers along with younger employees. Baby boomers may be willing to fill in when younger workers need to be away from the workplace when children are sick or when there are parent-teacher meetings at school. Many baby boomers work because they want to keep busy and may not mind working a few extra hours to help out a younger coworker.

Baby Boomers Create Business Opportunities

As people age they require services that can easily be offered by a new business. For example, many baby boomers want to remain in their homes for as long as possible. New businesses are steadily being developed for the purpose of providing assistance to older baby boomers. These services may include cleaning, cooking, transporting individuals to appointments and running errands. These are services that are not typically provided by home-health agencies, but they are important in helping aging baby boomers remain independent.

Akin to in home assistance is the concept of homes with universal design. Universal design involves outfitting current residences or building new residences with amenities that make living easier for aging boomers. Examples include grab bars in baths, kitchen cabinets with pull out drawers and counter tops that are built at a comfortable height. A new business could be developed to address such housing needs.

Baby Boomers Affect Marketing

Many baby boomers have disposable income and are looking for products that fit their unique lifestyles. Those responsible for marketing to this group would do well to develop messages that will resonate with this age group. This includes using actors to whom baby boomers can relate. Those who interact in person with baby boomers need good communication skills to work with this diverse group. Baby boomers come from various social economic and ethnic groups. Perpetuating stereotypes when dealing with baby boomers can result in losing business. Those who seek the business of baby boomers must treat those in the boomer population as individuals and show respect rather than being condescending.

New businesses should not underestimate the power of baby boomers. This group not only brings expertise, they also require products and services that new businesses can offer. This makes the relationship between baby boomers and new businesses a win-win situation or mutually beneficial situation for all involved.

Author Bio Joshua Turner is a writer who creates informative articles in relation to business. In this article, he explains the influence of baby boomers on businesses and aims to encourage further study with a information systems MBA, for more information click here.  

Long Term Care Insurance: A Looming Problem for Baby Boomers

Living in a segment of town where there are a number of retirees renting their own homes make me wonder how fail-proof their retirement plans are. I wonder if they have planned for a rather long retirement phase ahead, as most of us will live longer than our counterparts in generations preceding us. I wonder what they used for their retirement plans, if they worked and put aside money in their 401K or equivalent pension plans, or if they invested their money and are living off of interest or monthly payments from the investment. I wonder how many of them take up odd jobs to keep the rent paid, and what those jobs construe. Retirement is both fascinating and frightening because it can seem like a daunting task to live several decades of your life without an income stream that is an active job you currently hold.

If you are a baby boomer, chances are you've already made your decisions on retirement plans. The Baby Boomer segment in the US has long been touted as the largest group to enter retirement with the most amounts of problems in long term care and Medicaid access. Many of us know that Medicaid is not sustainable in the long run, which makes the case for long term care for boomers even worse. This is because when the largest group requiring long term care retires, the ratio of working age to elderly population will be at its lowest. The tax base that ought to be providing the source for Medicaid funds will be the smallest in 80 years. This is a very bleak picture that has serious implications with very few concrete solutions. Long term care insurance can hedge against these problems, especially because Medicaid only steps in once a senior has spent down almost all their assets and retirement income. 

An interesting notes on the issue however, is that many boomers who can afford long term care insurance have still not bought any. Many boomers might think it unnecessary but LTC insurance covers an important segment of long term care that is the most expensive item on the LTC list: nursing home care. Nursing home care and home health care coverage are now standard on almost all LTC policies. 

As we all wait for the Federal Reserve to announce its decision on its updated economic policy, many are anticipating its call on the reduction in bond purchases if it decides that the economy has been faring well for itself and could do with a reduction in stimulus packages. With so much uncertainty looming in the economy still, it might be best to self-insure against long term care expenses right now while the market is still relatively stable. Last year, some prominent long term care insurance players including Prudential, Unum and MetLife disbanded their LTC offerings, saying that it wasn't a profitable enough business segment to offer any more new policies to new consumers. Before the supply of long term care insurance diminishes further or worse, becomes prohibitively expensive, look up some quotes and consider purchasing a policy if you are a boomer nearing or already in retirement.

The statistics predict a glut of boomers spending on nursing homes about 30 years out from now. This group includes forty year olds as well, so if you think you're too young to even consider LTC, think again! The need for long term care will come upon you closer than you think.

Author bio: Frank Mitchell has worked as a life insurance agent for 10 years. After an accident in 2011 that kept him at home for more than a year, Frank started offering advice on forums and other social media networks. He now works as financial advisor and in his spare time writes articles on subjects he is passionate about. On the weekends, you’ll find Frank dirt biking.

Reference:

http://www.acli.com/SiteCollectionDocuments/ACLI/PDFs/Public%20Affairs/LTCBabyBoomers05.pdf

http://www.cbsnews.com/8301-505146_162-57393433/prudential-quits-individual-long-term-care-biz/

Baby Boomers Without Kids Face Uncertain Future In Senior Years

Baby Boomers (Photo credit: thinkpanama)

With the rising costs of retiring and the impact of Social Security uncertainty that is on the horizon; many in the baby boomer generation will be relying on adult children to act as caregivers in retirement.But what about the 15 million members of the demographic who do not have children, and for them, the future is less certain.

Almost 20 percent of baby boomers never had kids. Around 10 percent of women in the previous generation were childless. Many of these older adults have other young people in their lives who could help them, but are concerned that they'll be too much of a burden.

The relatives of baby boomers without children could be asked for some minor care giving but many retirees do not want to be a burden to anyone. Those without children may be able to take care of themselves for the bulk of their retirement but fear someday they will have to decide on moving into an assisted living community later in life.Female boomers may have it worse than their male counterparts, in particular females have a longer life expectancy than males. Unfortunately, it seems that many baby boomers of both genders have not done sufficient planning to prepare for their retirement years.

Baby boomers who are hoping to move to a retirement community when they're older need to save money ahead of time to help supplement their lifestyle. Long-term care insurance can also help single and childless seniors cover the costs of aging in place or in an assisted living facility. Part of the issue is that many baby boomers are busy caring for their own parents, leaving them with little time to start planning for the future.

Some experts on aging speculate that for seniors who are single and childless, informal living situations may become an option. One representative for the AARP refers to this option as a "Golden Girls" scenario.

The community experience of living with friends is part of what draws many older adults to senior living communities. According to the Yale Medical Group, an active social life can lower blood pressure and the risk for mental heath issues, such as depression. It may also help decrease one's risk of developing Alzheimer's disease or cardiovascular problems. It's also been found that those who are busy socially can increase their longevity.

Related articles

• Medical Negligence A Growing Problem For Baby Boomers (50plusfinance.com)
• How Seniors Can Learn to Cope with Debt (50plusfinance.com)
• Guiding your Recently Graduated Kids through Debt Management (50plusfinance.com)
• Have You Considered Retirement Living Communities? (50plusfinance.com)