How To Make A Smooth Transition From Working To Retirement

retirement (Photo credit: 401(K) 2013)

The climb towards the top of the corporate ladder was long and winding. You have spent many years of your life working and gaining the respect of the people you work with. You have enjoyed the challenges and the rigors of your work and you have come to define your life in terms of the work that you do. Before you know it, time has flown too quickly and you are now on the cusp of starting your retirement years.

While there are many who welcome and embrace a more relaxed way of living, there are some who might feel apprehensive about starting retirement. If you are one of those who are anxious about leaving their finance jobs and other careers behind to begin another chapter in your life, there are several ways in which you can make a smooth transition from being a busy workhorse to a becoming a relaxed yet productive retired person.

Why do you need to make a smooth transition?

The question that many men and women have in their heads when they begin retirement is "Who am I now?" For the past years they have built their lives around their work, they have done the same routine, and they have built their sense of accomplishment around the feats that they have achieved in their jobs. Men and women who enter the stage of retirement should be careful about the possibility of going into depression.

Retired persons who suddenly find themselves with so much free time in their hands sometimes begin to question their purpose in life. While there are those who strive in a slower, more relaxed pace of living, you may find it quite challenging to deal with this change. You may find that you and your wife or your husband now have too much time together and you begin to irritate each other. You may begin to feel empty and powerless because of your new situation.

How do you deal with the negative aspects of entering retirement?

Slowing down from work does not mean that you have to become idle. The key is to keep on moving and to keep yourself busy with new hobbies. Have you always enjoyed cooking and baking but you never had the time to do it before because of your job? Now is the time to pick up that spatula and start whipping out a delicious dessert for the family. Have you always wanted to get into sports like running or cycling? It is never too late to pick up a new hobby or sport. There are many adult men and women out there who start living a healthier lifestyle when they reached retirement and it has done wonders for their health.

You may now realize that you have way too much time in your hands. You are not used to living without a certain structure and the change can be quite overwhelming. Now is the time for you to reach out to old friends and colleagues who you have probably ignored for the past few years because of your busy work schedule. Plan a trip with your old high school buddies. It could be a weekend of fishing down in the lake or it could be a cross-country adventure. Reconnecting with old friends is a great way for you to feel rejuvenated and to give you a renewed zest for life.

You may also want to start volunteering and becoming more active in your church or local communities. Many people who enter retirement start to have that urge to want to give something back. The best way for you to find a new sense of purpose in your life is to engage in community building activities. This is a great way for you to feel productive again, to meet new people and to be in the company of the young ones.

Yes, it is true that retiring from work can come with a lot of challenges. Embrace the journey and revel in everything positive that this new chapter in your life brings you.

Author Bio
Joshua Turner is a writer who creates informative articles in relation to business. In this article, he describes the transition from employment to retirement and aims to encourage further study with a business administration bachelor degree.

Investment Opportunities In Civil Engineering

Abu Dhabi by SPOT Satellite (Photo credit: Wikipedia)

The world of finance takes investors to some intriguing areas of opportunity. Some of the most exciting opportunities for investing come in the form of civil engineering projects. The need to upgrade infrastructure or initiate new projects is ongoing in society, creating favorable circumstances for investments in those efforts. Five areas in particular currently present interesting ventures to finance. 

High Speed Rail 

Interest is growing in private investments in high speed rail. Routes that are expected to handle a lot of traffic will be lucrative, drawing the interesting of investors. New York and California, for instance, both offer potential investment opportunities. California in particular has a clear vision for private investment opportunities in high speed rail. The U.S. has fallen behind other countries in private investment in high speed rail, but recent successes and growing plans could change that. A planned rail between Dallas and Houston combines with the success of a new route between Boston and Washington to create a positive outlook. 

Alternative Energy 

Offshore wind offers an intriguing opportunity for investing. The U.S. Department of Energy and Department of Interior believe there is enough wind potential in close range of shore to equal the amount of energy in the country's electrical system as it is now. There are high initial costs to finance offshore wind, but the potential to harness even more energy from further offshore could mean significant returns on investments. Timing and a keen eye on prices can help an investor to make a choice at the opportune moment. 

Solar Energy 

Investments in solar power continue to represent a great deal of potential. These solar projects culminate in physical products as well as energy production, which make them an investment that finance professionals can envision bringing in high returns. Solar energy also offers any number of models for investment, creating versatility and choices in surveying opportunities. 

Solar projects are expected to continue growth, larger projects in particular presenting the best chances for returns, as they tend to be more viable economically. Additionally, municipalities, state and federal projects offer some incentives for investment in solar projects. The increasing diversity of choices and the growing interest in clean energy make solar energy attractive to investors. 

Inland Waterways 

Underinvestment from public funds has created opportunities for private investment in inland waterways. Global investments present a variety of options for those ready to finance a project that promises returns. Projects planned in India, for instance, are open to private investment. Projects in the U.S. also offer promise, given the successes seen in public-private joint funding. Partnerships between public interests and private investments are likely to be explored in the U.S. in the wake of public budget obstacles and a complicated political atmosphere. 

UAE Investing 

The United Arab Emirates is experiencing continued growth and urban development, Dubai in particular attracting a great deal of interest. Dubai tops many lists of the best places in which to invest, and the large number of opportunities give investors a number of options. Likewise, Abu Dhabi represents opportunities for investors to explore. The leadership in alternative energy in the region provides additional investment options to consider and makes the area even more enticing when contemplating choices. 

Choosing a project to finance as an investment can be a difficult undertaking. There are no certainties in the world of investing, and many factors must be weighed. The first thing to do is study the investment products under consideration. It is also crucial to understand the risks of options being considered. A careful review of the various options from which to choose can also help investors decide what suits them best. Only the investor planning to finance a project can determine what to do once all of the information is analyzed. 

Author Bio 

William Stevens is a writer who creates informative articles in relation to technology. In this article, he describes investment opportunities in civil engineering and aims to encourage further study with an online masters degree in civil engineering.

Is It Time To Go Back To School?

Harkness Tower, situated in the Memorial Quadrangle at Yale (Photo credit: Wikipedia)

There is a Chinese proverb that says, "The best time to plant a tree was 20 years ago; the second best time is now." This applies to most other endeavors that have been postponed for one reason or another as we made our way through life. Many of us wish that we could have finished that masters degree, completed that doctorate, or maybe even taken a different course altogether. Being 50 years old and above doesn't mean that these dreams are now out of reach. In fact, it may be the perfect time to go back to school and learn new things in preparation for retirement. 

The Rise of Online Courses 

A lot of older people would love to return to their university but several things get in the way. Their work schedules may not permit them to attend regular sessions unless night or weekend classes are available. Even then the load may prove too much for their health and well-being. Some may be fit enough to work and study at the same time but are not that comfortable with the thought of being the oldest person in class. It's a good thing that technology has evolved to the extent that courses may be offered online and taken at the student's leisure. 

Take a Dip in MOOCs 

Those who crave for knowledge but are not ready to commit to full degree can ease into it via Massive Open Online Courses or MOOCs. These have only been in existence for a few short years but they have already attracted millions of students across the globe. They are typically short courses that last from 4 to 12 weeks dealing with various subjects ranging from arts to engineering. The professors are some of the most brilliant minds at well-known institutions such as Stanford, Yale, Duke and Harvard. Hundreds are available to the public for free. 

Taking these subjects will not result in a formal degree though a few may be accepted for credits at select universities. A lot of them offer certificates of completion as an acknowledgement of the student's efforts. There are several sites to choose from and each has its own methods. Usually, short video lectures are uploaded on a weekly basis and people view or download them from the site. There may be weekly quizzes and assignments. A few only have a final exam at the end of the course. Professors set the weight of each requirement as well as standard for passing the course. Students can interactive on the class forum or on social media. 

Plunge Head On with Online Degrees 

Should the MOOC experience prove successful and the student feels ready to take on a greater challenge, a variety of online degrees can be acquired through universities that have embraced this mode of instruction. The subjects are generally harder and more comprehensive than those found in MOOCs. There is a higher level of expectations when it comes to involvement in discussions and the quality of the academic work. After all, these lead to the conferment of a proper bachelors or masters degree. The time commitment is also more intense but still flexible. Some may be conducted entirely online while others require face time with the professor every now and then. 

In many ways, the age of 50 is the perfect time to return to school. The career is already stable, the finance is in order, and the children are old enough to take care of themselves. Celebrate this milestone by embarking on an endeavor that could lead to fantastic opportunities down the road. It could be the start of an exciting new life. 

Author Bio 

Ryan Ayers is a writer who creates informative articles in relation to education. In this article, he explains a few benefits of online degrees and aims to encourage further study with an online master of education degree.

Playing Catch-Up on a Retirement Plan Over 50

retirement (Photo credit: 401(K) 2013)

People ask me all the time what is the best way to catch up on a retirement fund after a couple of decades of procrastination. Should start by paying off all debt, start putting all you can muster into a 401k, start heavily playing the lottery with crossed fingers? The answer is a combination of paying off debt and investing in low cost bond funds.

Paying off debt can be better than saving money.

Well, it can actually save you more money because of the obvious interest charges you are paying. You need at least 10 percent of your gross income saved, and a good way to do that is to pay down any debt with a high interest rate (that isn’t tax deductible). Paying off credit cards or car loans with annual percentage rate of 15 percent will give you a 15 percent return on every dollar you pay off. This is definitely the first thing you need to do when playing catch up.

It’s important to note that you MUST make it a point to live within your means, and perhaps a bit below them if you want to really save for the future. This calculator from NewRetirement is a good starting point that brings the future into the harsh light of day. It might be a good idea to downsize your living space; get a smaller house or a car that doesn’t require a monthly payment. Ask yourself if you really are okay with running out of money before you reach 75? 

Low cost bond funds

Once you have settled any high-interest, non-tax deductible debt (or if you miraculously didn’t have any) you need to catch up with a 401(k) plan. It would be ideal if your employer match at least some of your contributions, but even if they don’t this is a great way to save because of the tax-free savings aspect of the retirement fund.

Take a day or two out of your schedule and figure out which fund options your employer offers, and which are best for you to invest in. It’s best to choose the lowest cost bond funds and you can do so by comparing fund expense ratios, and choosing those with a ratio less than one percent. These investment firms will pass on the most return to investors by keeping costs down, and will make a difference in twenty years by the time you retire.

You may have lost sweet time for investments to compound and grow to their fullest potential in your procrastination, but that doesn’t mean it’s too late. An investment will take 15 years to double at a five percent rate, and 18 years at a four percent rate. If you get going now, with the goal of contributing to the 401(k) the maximum amount you are allowed to add, you can have a nice chunk of money waiting for you when you retire.

Figure out your social security plan.

Full retirement age for those born between 1943 and 1954 is considered 66, and will replace some of your salary, but you will most likely need more income. The rate for the average wage earner is 42 percent, but it adjusts based on your specific income and whether your spouse should be expected to contribute as well (estimate your social security benefits here). You can maximize your monthly benefit by waiting to retire until you reach 70, which gives you a 32 percent higher benefit than “normal”.

You might be over 50, and you might be behind on your retirement plan for whatever reason. Hey, it’s going to be okay - life happens. You can start now and really improve your position in the next 15 to 20 years. Retire the way you want to, not the way you have to.

Louis Mack is a seasoned financial planner in San Francisco who specializes in retirement planning. He is a writer for NewRetirement.com and lover of the great outdoors.

Common Restrictions On Over 50s Car Insurance Policies

For people over fifty, the cost of insurance is something commonly thought to increase as your continue to age. While this may be true with health and life insurance, the cost of car insurance frequently lowers as you get older. Although this is in part thanks to years of safe driving and the experience gained because of it, many companies place restrictions on the car insurance policies of drivers in their fifties and older. While these restrictions help result in lower premiums, they also provide limitations or require additional action in order to receive them.

Mileage Limitations

Frequently, auto insurance companies offer discounts to drivers in their fifties or older based on a reduced level of driving. These mileage limitations can save older drivers a significant amount of money each month, but restrict the total distance that can be driven throughout the life of the policy. After retirement, many people end up making shorter drives, and spending time in their vehicles less frequently. The less time your car is on the road, the less likely you are to get into an accident. With this approach, the lower risk of a claim is passed on to the insured driver through a reduction in premiums. When getting a new policy, ask your agent if there are any limits on the distance your are covered for and verify where your policy is in effect. Some policies only cover certain areas – traveling abroad may require additional insurance.

Defensive Driver Course Restrictions

Another way in which insurance companies reward drivers is through discounts association with the completion of defensive driver courses. Although drivers in their fifties have much more experience behind the wheel than their younger counterparts, the process of aging undoubtedly impairs aspects of driving such as reaction time. Discounts in car insurance for drivers who have completed defensive driver courses are a common way for companies to encourage safe driving and reward drivers who have been in the driver’s seat for decades.

Government Imposed Restrictions For Some Older Drivers

In addition to restrictions on car insurance policies that many companies have in place in order to provide discounts to older drivers, there are numerous other driving restrictions put in place by local governments. While these restrictions will vary based on where you live, it is important to check with your insurance agent regarding any laws that may apply to you.

Some of the more prevalent restrictions for older drivers include:

• Driving During The Daytime Only – Driving at dark can be dangerous for aging drivers because of a reduction in sight quality. Many municipalities require drivers over a certain age to stay off the road from dusk until dawn.
• No Driving On The Highway – The highway can be a dangerous place thanks to heavy amounts of traffic and high speeds. As a single mistake in judgment can have serious consequences not just for the driver, but also those nearby, some places restrict where older drivers can operate their vehicles.
• Mandatory Use Of Driving Aids – Perhaps the most widespread restriction on drivers over fifty is the mandatory use of driving aids. A number of locales require older drivers to complete regular testing to ensure they’re safe to drive and anything needed to drive safely, from glasses to hearing aids, is documented on drivers’ licenses.
• Being able to obtain more affordable car insurance is a benefit of getting older, but the lower costs are normally not without a trade-off. When obtaining a new policy, verifying any limitations placed by the insurance company, and ask about any other potential discounts you can receive due to your age. By understanding the requirements and restrictions the insurers have in place, you can ensure that you’re getting the coverage needed while saving as much money as possible.

Toni King has worked as an insurance agent for the past ten years and loves sharing his experience through various blogs. Toni often works with older drivers to make sure they’re getting the proper coverage at the best price.

Get Noticed in 2014 - 4 Marketing Techniques to Try in the Coming Year

Running a business is a rewarding venture, but it is also one that poses new challenges each day. Even companies with undeniably intelligent business plans, high-quality products and competitive prices can find it difficult to stay ahead. One of the biggest challenges for businesses is simply getting noticed. In a crowded marketplace — particularly one in which technological advances have lowered the barrier to entry — it can be quite difficult to produce a steady stream of interest. 

Get Social

If you're not already embracing multiple social media platforms, now is the time to do so. Different demographic groups use different platforms, so concentrating all of your efforts on just one site means you will risk missing out on a large chunk of potential consumers. Social media offers an attractive option because you can reach an audience whether they are at home or mobile, and it doesn't cost anything to send out messages. Additionally, it is easy for people to copy your messages and pass them on, allowing you to expand your audience effortlessly.

Promotional Products

Getting your name out is essential if you want to keep expanding your business. And, just as in movies and television, product placement can be a very effective strategy for doing so. Getting custom-made promotional products, such as promotional zipper pulls or custom carabiners by HALO will dramatically increase exposure to your brand, which is crucial if you want it to become a household name. These small, utilitarian products are items that customers can use every day, encouraging repeat exposure. Promotional products are inexpensive to make but can make a significant impression on your target audience, making them a great marketing investment. These promotional products can be imprinted with your company’s logo and contact details so every time they are used by current and potential customers, you gain marketing exposure.

Get Involved

Don't be afraid to think outside of the box when it comes to marketing; you don't have to restrict yourself to traditional advertisements or commercials. You can also get exposure for your business by volunteering in the community or sponsoring an event related to your products or services. These strategies can help you gain vast new audiences and have your business be seen in a positive light.

Get Personal

People are more likely to interact with and support a brand with personality, so make sure your target audience knows that there are people behind the products. Starting a blog can help you show your human side and will also give people more insight into how your business operates and witness your passions. Getting on the same level as your audience will make your business more appealing so that consumers see you, not a faceless corporation.

Cutting through the barrage of marketing messages that consumers receive every day is no easy task, and it requires strategic planning. Luckily, altering your approach to marketing is much easier than changing a product's design or chain of distribution. If you want to get noticed in 2014, consider adopting some of these marketing techniques that will get you noticed in your chosen field.