Entries Tagged as 'retirement'

Padding Your Retirement Account with Freelance Work

Padding Your Retirement Account with Freelance Work

Padding Your Retirement Account with Freelance Work

These days, more and more seniors are looking to continue their career after retirement age. Adults over 65 are set to become the fastest-growing segment of the U.S. labor force, predicted to make up 32% of workers in the next four years. For some, this is a way to fill time and meet new people, while for others, it’s a financial necessity thanks to the retirement savings crisis. Whatever the reason, the idea of looking for work in your sixties and beyond can be daunting.

These days, it’s becoming easier than ever for older adults to continue working in their field past retirement age. Many older adults are shying away from traditional workplace roles and are opting to work from home. The Internet offers convenient money-making opportunities for adults of all ages, experience, and skill levels. Freelance work can help you to build up your retirement account so that you have more to spend on the important things in life.

What is Freelancing?

The freelance market, also known as the “gig economy,” is vastly different than the job market than the one with which most seniors grew up. Instead of interviewing and accepting a position within a company, you approach clients directly for work. Most freelancers are hired as independent contractors and paid on a project-by-project basis. This gives you the flexibility to set your own hours and take time off whenever necessary.

While freelancing is a great way to make money while working from home, there are a couple of things that seniors should keep in mind. Freelancers usually receive no benefits, which means no medical coverage. Contractors are also responsible for their own taxes.

The Benefits of Freelancing

One of the biggest benefits of online freelancing for many seniors is the lack of a commute. This means that job openings and gigs aren’t just limited to adults with a car or a bus pass. Those who are legally blind, mobility impaired, or who can’t find transportation for whatever other reason can still conduct a freelance business from the comfort and convenience of their living room. You can also set your own hours and work as your own boss.

Freelancing Opportunities for Seniors

It’s not hard to find online gigs if you know where to look. Skilled freelancers can find postings on community sites such as Craigslist, or they can go to a specific hiring website. There are several sites designed to connect freelancers to jobs both in and outside of their area, including:

  • Upwork
  • Guru
  • Fiverr
  • Freelancer
  • iFreelance

With the advent of the Internet, it’s become easier than ever to earn money from home. No matter what your field, you can find exciting freelance gigs online that can help you to pad your retirement account. What’s more, you have the freedom to be your own boss and run your business your way.

Jenny Holt  jennyholtwriter@gmail.com


Top Ways To Boost Your Finances After Buying A Home

Top Ways To Boost Your Finances After Buying A Home

Top Ways To Boost Your Finances After Buying A Home

Owning a home is the dream scenario for millions of people around the world. However, with the average American property costing $241,700, it can be hard enough scraping together a sizeable deposit, let alone ensuring you’ve got enough put by to truly put your stamp on your new abode. So, when you’re preparing for a house move, be sure to take into consideration these top tips to enable you to boost your finances and your bank balance.

Take your time & plan

It goes without saying that you’ll be excited at the prospect of moving into your own property and will want to make changes as soon as possible so that it truly feels like it’s all yours. It is tempting to splash out on items before you’ve made a definitive plan, though, as you’ll likely end up throwing away money. Once you’re settled in your new place, take the time to sit down and decide what work needs doing and what changes you would like to make. This will give you a good starting point to work from and from here you can determine an order of priority.

Bills & expenses

When you move into a new home, it’s easy to forget to contact businesses such as your energy supplier and water provider to give them your details. It’s essential you make contact with them as soon as possible though to avoid falling into debt. This also gives you the perfect opportunity to ask for any special deals plans or discounts which will help keep your bank balance looking healthy. Now is also the time to seriously review your outgoings. Some top ways to cut your expenses is to opt for a cheaper cell phone contract, ditch the takeout coffees and walk instead of using public transport.

Make cash from your home

Your new property could be the perfect way to help boost your finances and build your personal wealth. If you’ve got a spare room, you could rent it out to a lodger or, for those conveniently located near to cities, towns and local businesses, renting out your driveway to commuters is a great way to bring in some additional cash. Another option is to rent out your home to TV and movie directors looking to film in lived in properties rather than fake sets.

Buying a home is a costly expense

Therefore, buyers should ensure they find ways to enhance their income and keep their finances healthy. It’s important to plan and budget for any projects before proceeding with them, take time to review all bills and expenses and consider using your new residency to make some cash.

Jenny Holt <jennyholtwriter@gmail.com>

How to Reduce Funeral Costs

How to Reduce Funeral Costs

How to Reduce Funeral Costs

The sudden death of a person affects all family members. At such difficult times, they are also burdened with the need to make funeral arrangements for the deceased person. They have to make important decisions on where to bury their loved one and which funeral service to opt for. A funeral is an expensive event and any wrong decisions financially burden the family. It is quite easy to make costly mistakes when you’re going through the emotional turmoil. Here are some effective tips that will help you reduce funeral costs.

How to Reduce Funeral Costs: Compare Many Options

Look out for different funeral homes to conduct the final ceremony of your deceased family member. Go through the price list of multiple funeral homes to choose the right service. You do not necessarily need to choose the cheapest service for a funeral. Thorough research helps you get a good value for your money.

Also, you do not need to purchase the entire funeral package of a funeral home. Just choose the items and services you need in order to cut down on funeral costs.

It is recommended to get funeral insurance in your life so as to save your family from any financial problems. Check different funeral insurance plans and select the most suitable option. It will ensure that your family won’t have to worry about funeral arrangements.

Stick to Your Budget

If any of your close family members die, you may want to get the best products for their funeral. However, it isn’t a good idea to show off your love for the deceased one by purchasing expensive products. Set your budget and stick to it. Refrain from spending a large sum of money on funeral service, since it will only cause more stress for you.

Know Your Rights

Carry out some research to know about the laws regarding funeral and burial in your state. Many people spend hundreds of dollars on embalming the body, thinking it is legally required. However, there are no such laws and regulations. Moreover, the body of the deceased person won’t get damaged without embalming, if you intend to bury them soon after their death.

Get Less Expensive Merchandise

You’ll need many items to get done with a funeral ceremony, such as casket, grave liner, and burial vault. Choose less expensive items to keep funeral costs low. The casket is the most expensive item required for the burial. Funeral directors may try to manipulate you into buying an expensive casket. However, you can get a good quality product within a few thousand dollars. If you want to cremate the body, there is no need to purchase a casket.

Choose a Home Funeral

Many states in Australia allow you to conduct the entire funeral ceremony of a person at home. If you want to do it on your own instead of hiring professional services, you should get in touch with local authorities to know more about the legalities. Conducting the ceremony at home allows you to save costs and say a final goodbye to your close family member.

 

Financial Stress Coping Guide for Seniors

Financial Stress Coping Guide for Seniors

Financial Stress Coping Guide for Seniors

Last year in August, I wrote an article titled The Retirement Savings Crisis: What Will Fix It?  Jenny Holt read that article and let me know about her eBook:

“Recently, I came across movermike.com while researching a piece inspired by my own family.  A combination of my father being downsized in his 60s and my mother falling ill have combined to seriously affect their financial planning for retirement and has exacerbated their health problems. They have inspired me to write a guide for seniors and their families about the most common causes of financial stress, how it affects the person, and provide some coping strategies. You can read it here:

Financial Stress Coping Guide for Seniors

I thought you might be interested in it after reading your blog post”

The Retirement Savings Crisis: What Will Fix It?

The Retirement Savings Crisis: What Will Fix It?

The Retirement Savings Crisis: What Will Fix It?

The numbers are staggering. An astounding $14 trillion retirement crisis is looming for millions of Americans. Nearly a third of the workforce does not own a single retirement account – not a 401(k), not an individual retirement account (IRA). Of those who do own a retirement account, the median account balance is a mere $3,000. Rising costs, longer lives and the very human tendency to not worry about it because it’ll all turn out OK in the end is driving the numbers. There are ways to fix the retirement savings crisis before it’s too late. Here’s how.

No Retirement Plan? Get One

If you think your Social Security check will be enough to live on during retirement, think again. The Social Security board of trustees anticipates that by the year 2035, all excess cash reserves will be gone. Benefits could be cut as well. Even if neither of these events occur, Social Security benefits will barely touch your living expenses. You need more.

If you don’t participate in an employer-sponsored IRA or 401(k)plan, sign up if your company offers one. You have to start somewhere and automatic contributions are a great way to do just that.

Consult a Professional Retirement Planner – Now

One 401(k) or IRA is not enough to live a comfortable retirement. Investment portfolio management, retirement savings management and strategy development are all services a professional provides to help you achieve your financial goals. A professional looks at where you are now, what you have to do to live a comfortable retirement and develops a plan to get you there. Professionals recommend the investments that work best for you, no matter what your age or financial picture. A retirement manager creates a customized solution that may include mutual funds, ETFs, annuities and other types of investments. If you’re older and starting to save late in the game, you may be reluctant to seek the help of a professional. You may feel embarrassed or ashamed, but there’s no need. Retirement planners are there to help and many have successfully helped clients in your situation – or, at least the financial planner you work with should be experienced in helping others in your situation. In fact, if you’re starting late, you need the expert advice a professional retirement planner brings to the table.

Living Longer Means Working Longer

One of the biggest reasons for the retirement savings crisis is the longer and overall healthier lives of today’s population. The amount of savings needed now far outpaces what used to be the norm. What’s a great way to improve your own retirement outlook? By working longer. There are potential problems with working harder, however. Economist David Neumark’s research indicates that employers tend to discriminate against older workers. And, there’s the problem of health issues as people age. Still, if at all possible, working longer ensures a more comfortable retirement when the time comes.

Don’t Wait

It’s much easier to do nothing and hope it all comes together in the end. But, the longer you put off, the less you’ll have later on. If you take steps now to increase your savings and reduce spending, you can avoid becoming part of the retirement savings crisis.

Gabby Revel, Founder, writer, editor & administrator at Fertile Content, is a freelance writer who specializes in lifestyle topics, as well as science and technology, investing, and personal finance. She also has a passion for adorable dogs of all kinds. She currently lives in the San Francisco Bay Area.

There is A Place for Precious Metals

Rosland Capital, a premier precious metals asset firm, is your go-to gold, silver, platinum and palladium resource. Founded on honesty, high-quality customer service and public education, Rosland Capital exists to educate you on the benefits of strengthening your assets and diversifying your portfolio.

Whether you are looking to safeguard your retirement savings, hedge against inflation or against potential stock market volatility, Rosland Capital offers precious metals in physical form, precious metal-backed IRAs, and the knowledge base you need to realize the benefits of precious metals.

The graphic below is an additional resource developed to help guide those who are seeking insight on the various savings and investment options for retirement.”

rosland_capital_avenuetoretire_v05

Top 5 Senior Friendly Cities in USA

Senior Friendly Cities

Senior Friendly Cities

Retirement is an inevitable phase of life; one that requires decisions to be made in advance. Senior citizens look forward to spending this time in an enjoyable yet affordable location. Senior friendly cities should not only provide citizens with high quality of life but should also not put a strain on the budget. Here is a list of top 5 senior friendly cities to live in

1.Minneapolis – Minnesota

This city is ideal for citizens that are looking for health care facilities and safe environment. The city offers an excellent transportation system with low crime rates and a stable economy that offers ample job opportunities for senior citizens.

With a wide range of music and historic entertainment forums, this city provides an extremely gratifying social life to the citizens. Moreover, it offers several spiritual places that allow citizens to offer their religious prayers in sacred places.

2.Pittsburgh, Pennsylvania

With highly efficient transportation system and low crime rates, this city is suitable for citizens that are looking for security and good housing faculties. The economy of the city is also stable and study reveals that it enjoys extremely low levels of unemployment rates and offers high quality health care facilities.

The city is also known as the hub of entertainment and therefore is suitable for citizens who are looking forward at spending an enjoyable yet affordable time in the old age.

3.Boston-Cambridge-Quincy, MA-NH

Senior citizens who are looking forward to re-training or gaining further education would find this city full of opportunities as it offers more than hundred education institutes. Moreover, the city has a rich cultural heritage that allows senior citizens to visit music and historic venues and theatres that provide high quality entertainment.

The healthcare facilities within the city are of extremely high quality whereas the transportation system is also quite efficient. The city has an extremely alluring social life for citizens who want to engage with peers and friends and to visit various locations across the city. The crime rate within the city is also considerably low.

4.Provo-Orem, Utah

The city offers a healthy lifestyle to the citizens who want to age comfortably. The city offers high levels of security and safety while also provides the citizens with the ability to embark on new careers or start a business.

5.San Francisco, California

This city is ranked considerably high in the health and longevity continuum whereas the environment of the city is ranked as the best across the country and thus is ideal for citizens who want to enjoy extremely pleasant weather conditions around the year.

Apart from these factors, the city has one of the best transportation systems across the world and offers an extremely pleasing social life.  Moreover, the crime rate within the city is also not very high.

Author Bio
Andy is a keen and passionate blogger and he’s been doing it for almost five years now. His favorite topics include senior issues and healthcare. If Andy is not writing, his time is being consumed by distributing Patient Handling items and other merchandises regarding mobility.

I Wanted the Freedom

Mike Landfair freelance writer

Retirement

I started working at 15 years old, because my parents couldn’t afford the clothes I wanted to wear and I wanted the freedom my own money would bring. I started working  as a stock boy at Thom McAn shoes and then graduated to selling shoes. One summer while in college I sold shoes at Thom McAn, JC Penny and Nordstrom’s. I don’t recall saving any money for college, although my parents said I did. I spent all my money, as the song goes, on booze and women. The rest I just wasted.

The best thing I did was get a college education, Back then a private school cost about $5,000 a year including room and board, tuition and books. Public University was about $100 to $ 300 a term, if memory serves. I gave no thought to retirement what so ever.

I got married, got a job as a stock broker, bought a house and had kids. That was all the motivation I needed to be successful. If you were 30 and earned your age, you were doing well. This was the early 1970s. As I recall, to be in debt was the American way. We knew we would earn more money the next year than we did the past year.

There didn’t seem to be any worry about retirement. Companies had retirement plans. They offered were defined benefit plans with vesting and profit-sharing plans. There were no IRAs. There were Keogh plans for the self-employed like CPAs, doctors and dentists. Most of us continued to pile up debt, buying bigger houses and more expensive cars and toys and vacations. I don’t recall hearing about home equity loans. Only when I got a divorce after 17 years of marriage, did debt become a problem. I was still earning good money, but the cost of two households and child care was a giant burden.

Sometime in the 1980s, I learned about compound interest. Einstein called compound interest the ninth wonder of the world.

Here’s an illustration of how compound interest works. Suppose at 19 years old you invested $2,000 each year for seven years into an IRA. You put in $14,000 and then never invested in that IRA again. Then suppose your best friend waited until he was 26 and started putting $2,000 every year until he was 65. That would be 40 years and $80,000. Each received a 10% compounded return (meaning that each year you get interest on last year’s interest).

In the year when they were 65 they sat down and compared nest eggs. The friend who invested $2,000 a year until 65, had a nice retirement nest egg of $893,704. The smart kid who stated at 19, invested for seven years and quit, had a retirement nest egg of $930,641.

Here’s what I wished I had done with my money.

I wish had utilized compound interest to get rich in real estate. Suppose you buy a house for $300,000 and put down $30,000. At 7% the house doubles to $600,000. Assuming you didn’t take out a bunch of home equity loans to buy toys, your equity in your home would be $330,000, an eleven-fold increase not counting any reduction in your mortgage.

If it was a rental, and I’d used the income to pay down the mortgage, I could have paid down the mortgage rapidly and bought another rental and so on. I could have retired with rentals throwing off income. Hopefully the property would have appreciated.

One thing I don’t do is look back and say, “If only I’d a. If only I’d a bought Microsoft at $50 in the IPO. The decisions I made got me here to San Miguel de Allende as an expat, retired, writing as a freelance writer, loving a foreign country, happily married for 23 years, wonderful girls and two wonderful grand kids. I could be wealthier, but I could be poorer, too. One thing I’ve learned is to be grateful for whatever I have and value my health. Do things in moderation and don’t put poisons in your body; that includes your mind, too.

Personal Capital has a free net worth tool that can bring all of your accounts together in one place so you can monitor your income, spending, and investments on a single, easy-to-read screen. Once you have linked all your accounts, you can use their tools to manage every aspect of your finances.

The Next Currency Crisis Has Begun

According to Graham Summers of Phoenix Capital Research The Next Currency Crisis Has Begun. 

Stocks have been boring for months now. They’ve gone almost nowhere since the start of the year.
The REAL action is in the currency markets.
The biggest news is the breakdown of the Japanese Yen. Normally it’s a big deal if a currency breaks a trendline that is over five years long.
The Yen just broke a 30 year trendline.

Image

The significance of this cannot be overstated… one of the major world currencies has broken support dating back to the mid-80s. This sets the stage for a collapse to 60 if not 40 in the coming months.
The Yen collapse represents a 33%-50% currency collapse. It is nothing short of a hyperinflationary event.
The impact will be felt around the globe, most notably in Asia where other currencies will be in absolute chaos.
However, the Yen also is a major currency partner with the US Dollar and the Euro… and a Japanese currency collapse will be felt in those regions as well. Stocks will be the last asset class to “get it.”

What Brought You to Portland?

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Portland State University is conducting a survey to find out What brought you to Portland?  What has kept you here?  They want to read your story.

They say:

  • Roughly two-thirds of the region’s (and state’s) population growth is the result of net in-migration.  Given that migration brings together people of various backgrounds, including different political viewpoints, age, race/ethnicity, and culture, improving our understanding of who is moving here today will better prepare us for understanding what Portland will look like tomorrow.
  • Portland migrants place strong value on the region’s natural amenities (e.g. climate, access to the gorge), bicycle and regional transit infrastructure, and economic opportunity, but also consistently cite opportunities for social/community engagement as important factors as well. 

Multnomah County is a very liberal city. The county was over 72% for Kerry. I wonder if the immigrants will change the mix or propel it even further to the left. It would be nice to see more of a balance and make politicians compete for our vote.

The survey takes about 15 minutes to complete and is completely confidential.  Our survey asks why people chose to move to Portland, why they have stayed, and what they value most in place to live and work.

Click here to take the survey: What Moves You? Tell Your Portland Story.

I would be interested in hearing what would drive you away, as we prepare to move to Mexico.

Copyright © 2007 Mover Mike. Design by Anthony Baggett.


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