One of the biggest problems that people will face as they age is outliving their money. Making sure that you understand why this will happen is important in planning for your future.
“A good financial plan will make sure all the unknown variables are taken into consideration.”
There are a few major problems that you will want to avoid when planning for your financial future and having a good understanding of them is critical to living a life of joy in your retirement years.
Here we will give you the terms for you to look them up and learn how they will impact your future. We will give you a brief understanding of the terms which will enable you to better your search.
These are what to look out for:
Inflation– this is a problem that plagues everyone with the only way to off set it is to have an inflation proof account that rises with inflation. Many pensions or IRA-401k don’t grow based on inflation. Most bank accounts will not grow as inflation grows, so you must have a way to get your wealth to rise equal to or better than inflation.
Lost Opportunity Cost– this is a term that pinpoints the actual loss that is incurred based on spending or buying. So when you spend money and get nothing in return you create a loss. Against that loss what could you have earned if you had put that money in the bank. The loss of interest growth is the lost opportunity that you incurred on the money.
Planned Obsolescence– another term is products designed to break down and be replaced. For example, the last thing you want in your retirement years is to have to repair or replace your new roof. Any time you incur an expensive replacement item which causes you to spend money out of your fixed income you create a planned obsolescence cost. Dove tail this with Lost Opportunity Cost and voila you just hit the mother load of losses.
All of the above cost can be offset with a good financial expert but you will want to make sure they understand the Leap process first. These financial professionals are educated to understand the macro economic picture of your wealth.
Every Day You know you should be getting some sort of exercise, you understand all the health benefits that come with a more active lifestyle. As a senior you understand the value of keeping active and the many benefits that result from keeping moving.
You’ve tried the whole Gym thing at one point in your lives, but it simply wasn’t for you. How many workout machines have you bought, over your lifetime, only to find it great for hanging clothes. The temptation to just sit in front of the TV, to curl up with an excellent book, or to invest a little additional time at your computer is simply not enough.
As Senior’s age they are more at risk for falling and maintaining safety is or prime concern. Exercise is a great way to keep from having the major expense of installing specialized equipment to maintain safety.
Who wants to visit the gym today anyhow? There are lots of other options to get more active that don’t include jogging, weight lifting or other “standard” ways to exercise. Here are a couple of ideas to get you moving
If you have Grand Children around chase them around the Yard You ‘d be amazed at how much of a work out you’ll get playing catch with your Grandchildren. Time will fly while you are having fun and your Grand children will take pleasure in the additional time with you. Simply go out there and play.
Turn up the Music and Dance around the Living Room while you’re dusting, setting up dishes, tidying spaces, or after you’ve been relaxing for too long, just play some of your preferred upbeat music and dance around in the house. You will get your heart rate up, and have more fun doing a few of those tasks.
Plant some Flowers When the weather is good, simply get out there and plant some flowers. Or you could begin a little veggie garden, cut some hedges, cut the grass, or plant a tree. You understand. Just go out there, delight in the sunshine and fresh air, and play in the dirt. Yes, this in fact counts as exercise in our book.
Go for a Walk with a Friend. Walk and welcome a good friend to come along. You’ll have some of the very best discussions while on a walk. Getting to talk with a good friend makes the time fly by and before you understand it you’ve been walking for 30 minutes. It also can be very therapeutic.
Listen to some Music or an Audio Book while You Walk Once again, keeping your mind on something else will make the time fly by and you’ll get some additional fun out of your walk. You may even want to consider getting a smart phone to play your audio book. You can quickly add exactly what you wish to pay attention on your walk.
Sign up for a Yoga or Pilates Class Consider starting a yoga or Pilates class. Both of these workouts are pretty low impact and will not leave you sweaty and aching (mainly). You may also delight in meeting some brand-new individuals in the class.
Take some Dance Lessons with your Partner or best friend. Dancing will provide you quite the workout and it’s simply plain fun and romantic. Select something that sounds enjoyable to you and go for it. You’ll take pleasure in the additional one on one time with your partner.
Go for a Swim at Your Local YMCA or Aquatic Center. Swimming produces some great workouts. It is low impact and simple on your joints. Start by swimming a few laps, or play in the swimming pool with your Grand kids.
Go for a Bike Ride. You can ride through your area in the evenings or plan a longer trip for the weekend. Pack a picnic for extra fun and start peddling.
Go for a Hike Search for some trekking tracks in your location and opt for a walk. This might be an enjoyable activity for you and a good friend. Start with some easy trails and work yourself as much as some longer or steeper routes.
Go ahead, choose one or 2 of the activities and get moving. Get out there and get moving today. Just get out there and play. Just get out there, take pleasure in the sunlight and fresh air, and play in the dirt.
At the end of the day relax in a hydrotherapy soak and enjoy the end of the day before dinner. It is a know fact that hydrotherapy can soothe the joints and relax you allowing you to ponder the next active day you will have.
Again, keeping your mind on something else will make the time fly by and you’ll get some extra enjoyment out of your activities. Go ahead, select one or 2 of the activities and get moving. Get out there and get moving today.