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Senior Citizens Suffer Sticker Shock!

Woman facing sticker shockMany Senior’s have retired only to witness sticker shock as to what retirement actually cost.

As we all get older we started to plan for our retirement and listened to the many financial people who showed illustrations exhibiting that if you put away x amount of dollars over a specified period of time, their would be a pile of money at the end.

As savvy investors challenged this because of inflation the financial professionals even took into consideration factoring for inflation. So everyone one had a plan that was not even halfway accurate. Many unknown variables were not built into many plans therefore when retirement sets in, so does panic. The fear of outliving money becomes a large concern for retired seniors.

But who knew what to expect, our parents at the time were not sharing what they were going through because they were witnessing a different type of retirement.

Parents of The Baby-Boomers

Our parents were retiring with the same income they were making before they retired, because they were great savers and many of them saved all their lives. They also had pension plans that they contributed to all their lives so their income was protected, add to that Social Security which gave them additional income.

They also started working at a much lower pre and post war income than their children [baby boomers] earned, so their lifestyle was considerably less and they kept it that way. Our Parents also didn’t make it easy on us and made us earn everything we wanted. Rarely did we get a handout from them, simply because they never got one.

Our parents retired with equal or more income than they earned before they retired, Social Security kept rising with inflation so they constantly got raises, which made their lives much easier.

The Hidden Cost Of Retirement

Man with empty pocketsLets fast forward and now the baby boomers are starting to retire. The majority of them have no pension plan because the companies they worked for replaced them with 401k’s and IRA’s. Saving money became a voluntary selection so consequently other priorities replaced savings.  Most boomers are not savers so they have very little to fall back on other than the 401K and IRA plans their employers provided.

A small segment of the early boomers have pensions, but for the large part most have what they managed to save while they lived their lives above their means.

Many have or had equity in their homes that they could fall back on, and we all know where that went. The downturn in the economy absorbed the biggest savings tool many had, and sucked their money away in a matter of several years.

So the plans of boomers buying islands and sailing off into the sunset went away quickly. But, there still was a huge chunk that slowly got eroded away without being seen. It wasn’t extravagant living, and losing their equity in their homes, it was more obvious than that.

They Gave It To Their Kids

Couple with the lack of savings, the baby boomers also decided to shower their children with toys that they didn’t have as kids. There seems to be some sort of guilt of giving their children what they didn’t have. Working for a better life was lost in the translation of raising children and the handout generation was born.

As giving to children became more prevalent, going without became another expense, the now seniors incurred while providing for their children, which became a hidden financial burden.

Lost opportunity cost, is what could be done with money spent. How much interest could be earned with a specific amount of money if it were in the bank and not spent elsewhere. The lost opportunity cost is what could be earned if the money were saved over a 30-40 year period of time.

What was the true cost of the money spent making sure that the boomers children drove the best cars, wore the best clothes, and went to the best schools. This is a big difference between our parents and our children.

If you could total up the cost of education alone and figured what could be earned in the bank at a reasonable interest rate over 30 -40 years it would be in the millions of dollars.

So there went the majority of the baby boomers retirement. They gave it to their kids.

Fast Forward to Retirement

Now the boomers are entering retirement and once they decide to retire they loose the largest income stream they have because they are no longer working. Many continue to work and many work part time to supplement their income.

So now when they retire they manage to put together a comfortable living with heavy emphasis relying on Social Security, which they were forced to put away every year. Social Security was earned but only supposed to be a supplement to retirement, not the main function of retirement.

So, now as the boomers start getting older, along with the children still being a burden, and many boomers parents who are still alive, outliving their money the current baby boomers are caught in the middle. With everyone living longer in life the baby boomers are called the sandwich generation. They are caught in the middle between their children and their parents.

As the boomers start to age they will be presented with the cost of inflation eating into their money and reducing their spending power. Social Security has not risen as fast as inflation and is not taking up much slack and other unforeseen cost are entering the picture.

Cost Of Living Safely

In addition to inflation, aging presents a huge cost to seniors. The cost of health care, the cost of living a safe life, and many other costs add to the burden. As people get older being able to stay in their homes and be in a comfortable surrounding helps to maintain harmony in the senior’s lives.

A quick fix would be a continuous living, or assisted living residence but this is a huge cost and a mental hurdle that many don’t want to take unless truly necessary. A lot of Senior’s don’t have the where with all financially to make such a move.

Life Safety is a major problem with Senior’s as they age. Life Safety is something that is becoming a big business today, which provides safety tools to seniors for living a comfortable, stress free life, as they age.

Senior Citizen sitting in a walk in tubHome Safety, particularly bathroom safety is a need that many seniors are faced with to have continuity in their lives. Bathroom Safety includes new types of showers, walk in tubs, and other safety products, that provide safety.

One of the major concerns to seniors is slipping and falling in the tub or shower and breaking a hip or shoulder which in later years is difficult to heal. There are ads all over the television and media that are selling walk in tubs, walk in showers, and other bathroom safety accessories to make life better.

Kitchen safety is another concern since the aging process tends to leave the once highly mobile, and very active seniors vulnerable to forgetting to turn off appliances. Kitchen fires and floods are a big concern while the seniors begin reaching their advanced years. Also falling trying to reach high places is a fear since the healing process is tough the older they get.

Home automation is a tool that is used by children of seniors to keep track of the movements and whereabouts of their senior parents. Home security and smart home automation has the ability to let children know when the parents enter their medicine cabinet, liquor cabinet, or leave the home.

All of the safety products and procedures become an added cost that was never planned for in retirement and an unforeseen, unknown variable that eats a huge chunk of money.

We all have read about senior’s who fall prey to fraud and lose money so get proper guidance when taking care of the safety issues in life.

Conclusion

So the conclusion is that when entering into these costs, as senior’s age, one should seek professional help in the many areas of financial and legal help. When seeking a vendor to provide the safety needed find one that will have the financial and legal assistance as well as installation assistance.

This article is meant to provide a background for why many of the Senior’s are in the situation they are in, and to help keep others from ending up in a situation of living a life of lack and not a life of abundance. Take heed and make sure that your retirement years is a fruitful one.

Back Pain Treatment: 4 Options You Probably Didn’t Think About

People develop back pain for a variety of reasons.  In 90% of the cases, people are able to eliminate most neck and back discomfort through some simple back pain treatments that do not entail going to a doctor.

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That being said, however, if the comfort continues for extended periods of time, consulting with a licensed chiropractor is essential as there may be something more substantially wrong.

Exercise

Sometimes the simplest solution is often overlooked.  Exercise is a very effective back pain treatment. Doing some simple exercises can dramatically help lower back pain.  WebMD has an excellent article on this very subject.  Some of the best exercises are simply taking brief walks, stretching and swimming.  Start gradually and slowly pick up the pace depending on your comfort level.

Temperature Modification

Alternating the application of hot and cold compresses can also help to serve as an effective back pain treatment. Application of an ice pack or a bag of ice to the back is recommended by doctors provided it is applied within the first 48 hours of the onset of symptoms. Apply the ice for 5-10 minutes. Ice minimizes the inflammation and swelling, numbs soft tissues, and slows nerve impulses in the injured area.

If, however, your problem is due to a spasm or other non inflammatory reason, a hot pack or heating pad can also be effective.  Heat tends to stretch and relax the muscles which can also help alleviate back and neck pain.

Medication

Although many people prefer to minimize the use of drugs as a way to treat pain, there is no doubt that medication can be the most effective way to quickly, and conveniently, relieve the discomfort of back pain. Some drugs, however, can have serious side effects and you should always consult with a doctor before taking any prescription medications.

Numerous non-Steroidal Anti-Inflammatory Drugs (NSAIDs) such as aspirin, ibuprofen, Naproxen®, and Ketoprofen® are capable of minimizing pain. These anti-inflammatory medications assist in back pain treatment by minimizing the swelling and inflammation while allowing you to recover from the pain.

An anticonvulsant or an oral steroid might treat acute or persistent neck and back pain. Steroid injections are also efficient in lowering the inflammation and the treatment of neck and back pain triggered by spinal stenosis, disc herniation, and degenerative disc disease.

The Best Back Pain Treatment: Chiropractors

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If none of the above options are giving the relieve you want, you should consider a chiropractor.  Chiropractors are specialized in identifying problems in the skeletal and muscular structure that can cause back pain. They have many tools and techniques that offer significant back pain treatment to help minimize your overall discomfort. The first time I went to a chiropractor, not only did he identify the source of my back pain, he also identified issues I didn’t even know I had that were causing issues I had been living with for so long, I didn’t even realize they were issues.

Finding a good chiropractor can be a daunting task so the best recommendation I can make in this area is to talk to friends and get referrals. In my small town, there are only 3 chiropractors but every time I asked someone who they went to, it was always the same answer.

Preventing Garage Floor Paint from Peeling

There are many things to keep in mind of when it comes down to peeling and lifting paint in the garage. Peeling garage floor paint is the worst, and it is typically better to have no paint at all at this point. Dusty and dirty garage floors are accepted, because after this is normal but when the paint starts peeling, it is hideous and not a good thing to have in your garage. However, there are new kinds of technology out there that will prevent your garage concrete flooring coating from peeling away and coming up.

epoxy floor coveringThis type of epoxy coating is very resistance to just about everything such as floods, oil, snow, and also the rain of course. The reason for the resistance in the epoxy is because it comes in two different parts, unlike a conventional paint. When you mix the epoxy, it will begin to catalyze, and it will change from a regular liquid and turn into a solid permanently; while paint is usually based on solvent or water and can evaporate.
Epoxy coatings are designed to be resistant against dissolving. However, they are also excellent for issues such as chipping, peeling, and also blistering. Solvents and water will have zero effect on a sealed up surface that has epoxy.
Many new buildings are using epoxy floor coatings because they will not have to worry about it peeling or getting damaged in the future. Not only is this coating used in garage, but it can also be used inside of the home and also on the deck patio as well.
When you are applying the coating to the floors, preparation is the key to success. If you want the coating to stay there forever, then you need to prepare the floor properly. Naturally, if the substrate crumbles or moves, your surface will move with it. You will want to ensure that the floor is completely and totally clean before applying the epoxy. If you do not clean the floor or there are still latents on the floor, then eventually the epoxy will break free from your floor.
If you are interested in getting some top notch concrete floor coating, then you should not look any further than AAA Concreting, who can help you with all your epoxy coating requirements. So if you have peeling paint, it is time to consider epoxy.