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Babyboomers Without a Retirement Nestegg: Retirement Tips
By Felix Hung
Retirement Tips for Babyboomers Retiring comfortably and maintaining your pre-retirement lifestyle is a good goal to have. Here are some tips to help you prepare for retirement. I'll go over some DO's and DON'T's to help you stretch your retirement savings. DO: 1. ...save more NOW. Don't wait to lower your lifestyle after you retire. Cutback on expenses now and invest your saving in some medium that is earning your money or interest. 2. ...take care of your body NOW. Either you take care of your body now with proper health and dental care, eating, nutrition, exercise and taking supplemental vitamins OR you will probably spend more in your golden years on huge medical bills. 3. ...educate yourself. We can all still keep learning. Learning about investments, estate planning, life insurance, and retirement programs will save you money later. The earlier you start planning, the more you'll save and the better off you'll be. 4. ...consider downsizing the place you rent or own now. Depending on your situation, it could be better to hold your property until you're close to retirement or it could be better to sell and downsize now. Talk and counsel with experienced financial advisors to determine what is best for you. DON'T: 1. ...wait until retirement to figure out what you need for survival. 2. ...count on social security. You cannot count on social secrity. It could be there today and could be gone tomorrow. 3. ...count on others to take care of you. Your retirement is your responsibility. Although many have friends, family, or children that supplement their retirement; many assume they'll help without asking or talking about the topic. 4. ...ignore the need to do something about your retirement NOW. Did you have your retirement savings in the stock market in 2008 when the market fell through the floor? Were you banking on selling your home for a high price in the next 5-10 years to retire? If you are, you should really look at your retirement cash flow picture. Will you have enough to live on or will you be buying $1 TV dinners from the grocery store? Remember to prepare now, not later. |
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Sound advice Felix, shame that it comes to late for some of us. I take my supplements and do not have any health issues for which I am very grateful as they can be ver draining on resources. I do make sure that they are whole food supplements and not, repeat not, at any price synthetic vitamins! As they actually do more harm than good.
CONTRIBUTOR'S REPLY
That is great! Might I add that liquid whole food vitamin supplements are best (absorption rates higher), then it's capsules, then tablets. Tablets usually don't digest in our body's stomach acid. I'm glad you know synthetic is bad and "enriched" and "fortified" food products aren't healthy either.
My information about liquid supplements is that whilst they purportedly have higher absorption rates, the nutrient content is usually much lower than a whole food supplement in capsules or tablet form. Nutrients are supposed to be absorbed in the small intestine not the stomach, our supplements are designed to go through the stomachs acidic environment and dissolve the outer coating in the alkaline intestine and thus release their nutrients where they are best absorbed.
The only reason that food has to be "enriched" is because it has been robbed by the very people enriching it. That is because natural nutrients cause food to go rancid, whereas synthetics do not! and that is what they add!
CONTRIBUTOR'S REPLY
Good insight! I didn't know that.
This is valuable information.
Hooh boy... I figure I won't be retiring until around age ninety... or so... assuming, of course...
CONTRIBUTOR'S REPLY
Assuming of course what James?
... That I won't be retired by then?
Thank you for sharing this excellent advise, Felix. Un- fortunately, back in the 60's and 70's I didn't pay attention to retirement needs. Too busy keeping my head above water.
Keep up the good work.
Best wishes.
Frederick
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This intel was contributed by Felix Hung
Felix Hung
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May, 2012
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