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A1. WORKING IN RETIREMENT
Thinking of retiring? Expect to work when you do. Retirement is coming. Fast. But there is no way you have the funds to retire. What can you do? Try an Internet-based business!
The answer is simple: You need to WORK. The fact is, in our current economy the promises of retirement ease made to baby-boomers are often "bankrupt." If you were in management before, you will likely be working as a consultant to your old industry. If you were a "worker bee," the likelihood is you'll be working nights as a security guard, days as a retail clerk, a food service worker, on graveyard shifts a cleaning crew member, or the like.
OR: You can start your own small business by using the power of the Internet for sales, providing services, and communication with your customers.
The above option is one of the most rewarding, and takes business planning. The idea is to offer low-cost, easily delivered services and information. Ask yourself, "What do I know a lot about? What is my expertise?" Look for your niche by reviewing your life and business experience.
What it does not require is a strong knowledge of technology, if a person, preferably a young one, skilled in Internet use can be drafted into the business to handle that end of things. How do you motivate such a person? Offer him or her a piece of the business, and watch them use their energy and excitement to run with the ball. You'll need an accountant to help you, eventually, but a meeting with a CPA at the outset to get your accounting and data-retention needs outlined can be very helpful and save a small fortune later.
Which services you offer can take all manner of needs into account. Think about what your other "retired" friends and relatives are doing to bring in revenue. So many people are doing this now you might find that those you didn't think would ever need extra income are actually in the same boat as you. So what are they doing about it?
Here are some common small businesses for retirees (and you may need a Web site, or at least some computer knowledge for most of them-if only to keep track of the money you earn:
You probably don't need a fortune of income in retirement-just some extra revenue. Take a look at your life, your experience, your skills, and think of how you can sell or leverage it-then get busy! Retirement isn't going to be what "they" promised us, but it will be happier, more rewarding, and more successful with a little thought and effort to make ends meet with extra revenue.
Additional financial information may be found at
A2. LONG TERM CARE INSURANCE IN TODAY'S ENVIRONMENT
How are you going to handle your future nursing home or assisted-living costs? A Long Term Care (LTC) policy may be an answer. Many millions of people now own such policies. Here are a few things to consider when looking for a LTC policy.
Period of Benefits. Most nursing home stays are for less than five years. Hence, policies of two, three or four years are typical. Some companies offer a lifetime policy that is more costly.
Elimination Period. This is the time, perhaps of three months' duration, during which you must be receiving nursing care before your policy starts paying off. The longer the elimination period, the lower the premiums.
Premium Constancy. LTC premiums can rise without much warning. The soundness of the insurance company may be the biggest factor: Weaker companies may offer lower initial premiums but may not be able to keep them there over time. In today's difficult financial times, one should consider examining the company's financial statements and ratings. Also check its record of premium increases.
Daily Benefits. These are the daily expenses your policy will cover. Assisted living or nursing home costs vary in different areas of the country, so you should investigate typical costs in your region. Recent studies indicate that costs currently run about $200 per day in most areas. These costs will increase with inflation. Therefore, it may be wise to get a policy with some form of inflation protection. Most companies offer policies with many other features. You should study these and determine if they are helpful in meeting your future care needs.
Additional insurance information for seniors can be found at:
B. DID YOU KNOW...?
1. Elder Care Options
Additional housing options may be found at
2. Homeowner Affordability and Stability Plan
Learn more here: http://www.financialstability.gov
Additional financial information may be found at
C. THOUGHTS FOR THE MONTH
We present here some words from those with a birthday this month.
More "Thoughts" at: http://www.seniorresource.com/thought.htm
D. SPECIAL SURFING SITES
The Johns Hopkins Guide to Arthritis Pain Relief.
Also learn about Senior Health at http://www.seniorresource.com/health.htm
2. Energy Policy Basics
E. OH MY AGING FUNNY BONE
1. Nicely Said BK San Diego
2. Smart Answer #8
The cop got out of his car and the kid who was stopped for speeding rolled down his window. "I've been waiting for you all day," the cop said. The kid replied, "Yeah, well, I got here as fast as I could." When the cop finally stopped laughing, he sent the kid on his way without a ticket.
"Oh My Aging Funny Bone" is at: http://www.seniorresource.com/jokes.htm
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Aging in Place