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Baby Boomers – Are You Retirement Ready?

12/28/2018

Did you know that more than half of current workers have not planned for retirement!

So, we ask the question: Baby Boomers – Are You Retirement Ready?

According to recent surveys, 48% of pre-retirees do not have a financial plan! If you are one of those 48%, you need to get going.

Here is a time line of when and what you should be looking at to get on target for a comfortable retirement.

10 Years Out:

You should take a good guess at what your retirement life is going to be like.

How much will you need for a budget?
Revisit your tax diversification (you may need to see a professional on this one… pick a Certified Financial Planner (CFP) or Financially Oriented Lawyer).
Reallocate your portfolio to fit your future needs.

5 Years Out:

You should probably start to get your behavior changes in order to fit your upcoming lifestyle and budget.

Pay down as much debt as possible.
Diversify your assets to a more conservative and safe planning effort.
Get a handle on your retirement pension options and work with your CFP or Lawyer.

1 Year Out:

It’s getting close!

Determine which costs/expenses will be in the retirement phase and what you have now. Adjust your budget and expenses.
What are your pension options (Probably a 5 Year Out item as well, revisited here).
If you are 65 at retirement, you will need to review your Medicare options and supplemental plans that may or not be available.

According to Ameriprise Financial for Pre-retirees:

Pre-retirees with a plan have saved more for retirement.
Many say they need a greater understanding of how taxes impact income in retirement.
Top concerns are healthcare expenses, protection from market volatility and spending their
money too quickly.
May work in retirement to increase their income.

For more excellent information on retirement: Research Studies

Again we ask, Baby Boomers – Are You Retirement Ready?

It comes quicker than you think!

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Giving Back With Care Packages For the Homeless

12/11/2018

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Giving back is an important gesture during this Christmas season!

If you live near a city, you are bound to come across those who are in a less fortunate situation than yourself. Just recently, a friend of mine found a mother and her two young children walking in the cold back to their shelter. She stopped, gave them a ride and after hearing her story was able to take some cash out to help her out a little.

Sometimes it’s easier to go about your day and ignore the homeless man standing on the corner. However, I have always felt in my heart, it’s not our place to judge. If handing over cash isn’t possible, or you worry about how it will be spent, there are so many other options to brighten someone’s day.

We are entering the season of gift giving. Many people who are homeless will have very little to brighten their holidays. While you may not be able to improve their life through a job or place to live, you can show them you care with a care package.

These are small pre-made bags with a few things that homeless people can use. You can get tons of ideas for making care packages for the homeless on Pinterest.

Here is a list of the most commonly included items:

Warm socks that can be used as socks or cut and turned into gloves.
Chapstick
Tooth brush
Tooth paste
Bottled water
Apple Sauce
Trail Mix
Beef Jerky
Wet wipes
$5 bill – Not everyone who makes these packets adds money. One girl said she adds it so they can buy a meal. This is definitely at your discretion.
Gift Cards to Fast Food Restaurants – This is an alternative to cash and means they can still get a hot meal.
Tuna in pop top cans
Lotion
Sunscreen
Foot Warmers

This is a small but significant way we can help those around us this winter season by Giving Back!

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Baby Boomers – Are You Retirement Ready?

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