Posts Tagged ‘ retirement planning ’

RETIREMENT SAVINGS TOP CONCERN FOR SENIORS

Jul 8th, 2013 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

The National Institute on Retirement Security recently published a study that highlights a top concern of senior citizens and Baby Boomers. The findings confirm “…the American Dream of retiring comfortably after a lifetime of work will be impossible for many. Based on 401(k)–type account and IRA balances alone, some 92 percent of working households do [...]



SOME FINANCIAL ‘UH-OH’s’ IN RETIREMENT

Mar 16th, 2013 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Some Unexpected Financial Hits Many seniors take a backward look at some point in retirement, and find their financial lives are somewhat different from what they expected. We did this recently, and found several expenses we neither anticipated nor expected.// Moving Expenses: We moved after 15 years of retirement. We did not anticipate doing that [...]



PLAYING THE HARP, FACING DISASTERS

Sep 26th, 2012 | By Dr Jerry D Elrod | Category: Senior Moments Blog

For those 10,ooo persons who are retiring every day, what plans have been set in motion to occupy your time, captivate your interest, steal your enthusiasm, capitalize on your personality?

My wife’s sister was here for a brief visit over the weekend. Over a leisurely lunch, she shared her plans for imminent retirement. She will retire on December 31, which is also the occasion of my birthday. It pleases me that so many people find occasion to celebrate on my birthday.

She laid out some of her plans and expectations. She has been appropriately developing plans and giving thought to just how she will invest her passing of days and meeting desires in which she has long held



DOING WHAT YOU DIDN’T KNOW YOU COULD

Feb 21st, 2012 | By Dr Jerry D Elrod | Category: Senior Moments Blog

In retirement, during those days when you are somewhat cast adrift, bored or otherwise feel useless, how do you find something in which to invest yourself that gives your life meaning and purpose and satisfaction?

One of the admirable qualities of many who have retired is discovering something uniquely special and creatively enterprising that they can do. Some of the things include: doing wood working, making toys for children, repairing bicycles and giving them away to children who wouldn’t otherwise have them. Or having been somewhat proficient at mechanics, repair an old car and help a young man or woman learn how to keep it running. Or build backyard playgrounds or identify city land on which safe structures can be built and maintained available for neighborhood children.



MAKING BENEFICIAL CHOICES: WHAT SHOULD SENIORS DO?

Feb 10th, 2012 | By Dr Jerry D Elrod | Category: Senior Moments Blog

The time has come when it is possible to make some choices that have been delayed for years. It was always providing for someone else, taking care of the current demands, doing a project on the house, meeting college tuition, purchasing a car, putting other things above what we really wanted to do.

Finally, enough circumstances are aligned with the stars that we can consider making benefical choices for ourselves. So, what is it we what to do? What, among the myriad of choices we enjoy doing most, will we decide to do? What might we do that would induce or produce the least guilt? Is it really okay to spend money on us, doing exactly what we have always wanted to do? Is it international travel? Is it purchasing a time share where we commit to going once a year? Is it taking a cruise? Is it spending money and time in Las Vegas? Is it



SENIORS: THINGS TO DO BEFORE IT IS TOO LATE

Jan 26th, 2012 | By Dr Jerry D Elrod | Category: Senior Moments Blog

Retirement, for many, begins almost like a romance. Infatuated with its desirability and what seems like limitless options, one is hard pressed to narrow down the priorities and tempted to do it all at once. That is impossible, of course. Thus, one is confronted with having to sort out what the realistic options are for your retirement, and to act on them with some kind of practical timeline.

Getting caught in the trap of “cookie cutter” choices, many commit themselves to limiting their options early on. Settling in somewhere is the first consideration that brings with it multiplied implications. If you stay where you are, there are predictable advantages; if you relocate, you automatically impose numerous new obligations and time consuming demands on that choice; if you do the motor-home thing, you are constantly free to go where you wish, but bound to always looking toward the next



NEW VERSION OF THE FINANCE-BUCKET PLAN

Jan 13th, 2012 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

40-Year Old Plan Has a Comeback Retirees and Baby Boomers that we hear from continue to struggle with finances. We senior citizens are not in the 1% of wealth Americans; we’re in the 99%.  We want assurances that our retirement money will outlive us, and that is hard to come by.  However, there is another [...]



ADVICE FOR BABY BOOMER-WOMEN

Sep 4th, 2011 | By Sharon Shaw Elrod MSW EdD | Category: For Senior Women

For Female Baby Boomers The Baby Boomer age is defined as those born from 1946 to 1964.  Although the information in this article applies to any adult woman, those in the Baby Boomer range need to pay close attention.// A symposium, sponsored by Volunteers of America, was held in May in Washington DC in which [...]



Seniors: How Much Retirement Can You Afford?

Aug 8th, 2011 | By Dr Jerry D Elrod | Category: Senior Moments Blog

For those on the cusp of retirement, this is not an out of bounds question. Choosing when to retire is fraught with all kinds of implications. Being sure you can maximize your income from all sources, while keeping a nest egg that will continue to protect your position, is a strategy requiring careful, prudent and wise planning.

Retiring early, in the current financial scene, is likely not a good idea. However, there may be circumstances which encourage that possibility. Investigating them carefully will reveal how well an early retirement choice would work for you.

Continuing to work, even part time, may be a choice of necessity. However, that too must involve considerations which



Retirees: Some Options for Managing Credit Card Debt

May 22nd, 2010 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Senior citizens carry the fastest-growing credit card debt in the United States today.  The average balance increased 149% from 1995 to 2004 among retirees 65 and older.   That figure continues on the rise.  If you find your credit card debt worrisome, this article is for you. You can choose to go to a debt relief [...]