1 Major Living in Retirement Issue That Will Shock You

1 major living in retirement issue that will shock you and most don’t plan for, and can cost many dollars later in retirement years. This one point has 4 important parts that are rarely planned for, but can be very important later in life. Learn what they are and how to fix them before it’s to late.

Many times people will plan for retirement either through a financial planner or by themselves and in both cases the message seems to fall short of maintaining a clear understanding to the retiree. This issue has cost many people their lifestyle and relegated them to a lesser lifestyle never dreamed of when doing their planning.

Inflation

Many people understand the term inflation but rarely understand how devastating it can be later in life. I know that many financial planners address this issue and in most retirement planning publications it is addressed so this concept does not go un-noticed.

Even though it is discussed in length many seem to forget it and feel they are immune to the effects of inflation. It sneaks up and grabs the unsuspecting at a moments notice and at that point it cannot be unwound.

Here’s how it works. The retiree plans for their retirement and they begin understanding that the income they are beginning to live on is a finite amount of money. They will not longer receive raises from their employer and the hedge that they had before doesn’t exist.

Living In Retirement

Now I am sure that while they planned they were aware of the effects of inflation but what happens next will blow your mind.

So here we go into retirement and life is good. The retiree is now focused on golf and going out to dinner. Many want to travel and see the world. Remember, these folks are the ones that watched the ads on TV showing people in retirement living on private islands and sailboats, etc.

So as time goes by even if the retiree is budgeting their money, prices go up, and income stays stagnate. No cost of living increases except in Social Security, occur to off set the rising prices. Usually Social Security is really not keeping up with inflation but it does give a small increase.

So as prices rise spending power goes down. The retiree is hit with many unforeseen factors. Lets look at a few:

There are many more financial inefficiencies but these are some of the main culprits that were never really planned for. This is why many people are looking for part time jobs later in life. They never planned on working in retirement but because they didn’t do proper planning they are having to do so.

In Conclusion

If you are not in retirement in order to fix these financial inefficiencies that will occur, there should be a concerted effort to patch these financial holes. One way to do it is to start to save money to offset them. Run all financial illustrations with a slush fund or sinking fund to hold in reserve for when they occur. Contact a financial expert to facilitate this for you.

If you are already in retirement you will want to contact a financial professional and have them formulate a plan to offset these through redirection of assets. Depending how far into retirement you are will determine how big a sacrifice you will have to make. Believe me no matter where you are in retirement the sacrifice you make now will never be as severe as the one you have to make when these problems occur.

In either case doing nothing is devastating and will only produce frustration and discontent. Always remember people are outliving their wealth and safeguards have to become part of the plan.

 

 

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

back pain boca raton

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.