Old Colony Elder Services Urges Baby Boomers To Learn More About Long Term Care Planning Now

 BROCKTON, MA.

Old Colont Elder Services (OCES), a non-profit Aging Services Access Point (ASAP) located in Brockton, is supporting the Executive Office of Elder Affairs’ (EOEA) campaign “Embrace Your Future” to raise awareness about the importance of long term care planning.

 

Anyone between 45 and 60 years old who is interested in more information about planning for retirement and long term care should contact OCES at (508) 584-1561 to request a brochure.

 

The “Embrace Your Future” campaign is targeting the people born between 1946 and 1964 and encouraging them to take steps now to plan for their future needs. According to the U.S. Department of Health and Human Services’ National Clearinghouse for Long Term Care Information, planning for future long term care needs is important for a number of reasons:

 

Expense – Long term care services are often much more expensive than people think. Care often exceeds what the average person can pay using their income and other resources. You may not meet the eligibility requirements for federal or state assistance. Medicare, disability insurance and health insurance do not pay for long term care services.

 

Financial and emotional stress – The financial and emotional burden of your care will rest solely on your family members unless you plan ahead. Remember, your assets may not be enough to cover the costs of your care.

 

More care choices – By planning ahead, you will have more choices as to how your long term support needs will be met as well as where you wish to receive that care – for many, the desire is to remain at home for as long as possible.

 

“When you are healthy and active, there is often no sense of urgency with regard to planning for long term care because the potential needs seem so far into the future. But, planning ahead is the best way to ensure that your future needs will be met and that you will have the resources to pay for those needs. Long term care costs are rising and the government will not have the funds to support them. We strongly encourage anyone between 45 and 60 to contact us for more information,” explained Diana DiGiorgi, Executive Director of OCES.

 

The best way to begin planning is by taking the first step to obtain more information. Contact OCES at (508) 584-1561 to request that an “Embrace Your Future” brochure be mailed to you at no charge. Or, 800ageinfo.com or www.longtermcare.gov/campaign/ma for more information.

 

About OCES
Incorporated in 1974, Old Colony Elder Services is one of 27 private, non-profit Aging Services Access Points (ASAPs) in the Commonwealth of Massachusetts. 

OCES offers a number of programs to serve seniors, individuals with disabilities, their families and caregivers such as Family Caregiver; Adult Family Care; Supportive Housing; Nutrition; Money Management; Protective Services; Home Care and more.

 

OCES offers these programs in the towns of Abington, Avon, Bridgewater, Brockton, Carver, Duxbury, East Bridgewater, Easton, Halifax, Hanover, Hanson, Kingston, Lakeville, Marshfield, Middleboro, Pembroke, Plymouth, Plympton, Rockland, Stoughton, Wareham, West Bridgewater and Whitman. 

The organization’s mission is to provide services that support the dignity and independence of elders by helping them maximize their quality of life; live safely and in good health; and, prevent
unnecessary or premature institutionalization. 

In 2009, OCES was honored with the Metro-South Chamber of Commerce’s “Economic Impact Award”. The agency has 140 employees.  For more information call (508) 584-1561 or visit the website at www.oldcolonyelderservices.org.

Career Planning For Baby Boomers — Re-Entering The Workforce

Studies have shown that a large segment of mature people now want to stay employed or re-enter the workforce at the middle aged stage. There are several reasons as to why more mature people choose to start working again and many of these can be inter-connected.

The reasons why mature workers remain motivated for staying in, or re-entering the workforce, can be diverse and include:

A necessity based approach that if focused on wages and pay.
Satisfaction based, from contribution to economy and social contacts in the workplace (important especially for women or people living alone)
Continuing usage of skills and abilities, expertise and capacities that are relevant to the workplace but with limited visibility and relevance outside.
A good set of principles and work ethics, or a good set of values they have about work
Complete pleasure and satisfaction in working, or comfort and familiarity with regular routines

However, most senior citizens don’t necessarily have to work where they worked before, or they don’t need to work in the same style as before. In fact, a considerably large number don’t want just any ordinary job, they want a kind of occupation or vocation that will allow them to fully express their interests and beliefs, values and morals and even changing objectives. While most mature adults can be looking for changes as to where and how they would like to work, for others, work might actually be something akin to a financial necessity. Today, in the United States, people aged over 45 are increasingly getting back into work, largely because they need good health care coverage, for example.

Financial independence is also and important factor in the work force re-entry of mature women. In the group of ethnically and economically diverse mature women in America, freedom from men seems to be a major motivation for work. Part of this emphasis on freedom from men – be it financial or any other sort of ties (whether spouses or children) comes from past negative experiences, some from the perceived risks of divorce, separation, abandonment, and ill treatment, faced by dependant women.

A number of reasons, in addition to the financial ones drive older, more mature people to get back to working. These may range from the fitness to the social issues. The reasons why mature adults re-enter the workforce are:

To remain physically as well as mentally active.
Due to family and relationship changes
Job satisfaction
Because they need a routine
Want more to do
Crave for more social contacts that can only be provided by work

The ones who do retire may not permanently leave the workforce, finding retirement less enjoyable than expected and may soon re-enter the workforce.

As increasing number of mature workers enter the workforce, there is an increasing number of 50+-year-old job seekers. Barriers, real or perceived, and the expectation of rejection undermine morale, and hurt self-confidence. Despite legislation making age discrimination illegal, it can be quite problematic, particularly for the unemployed seeking work out of necessity.

Some of the negative aspects that are attributed to older workers are:

Lack of creativity and flexibility
Outdated and archaic skills and abilities
Tend to be accident prone
Less capable of physical labor
Poor health

In fact, research shows that older workers are:

Faithful
Trustworthy
Diligent workers
Productive
Sophisticated
Enthusiastic
More experienced

Dedicated

Financial Planning for Retirement Explored

The concept of retirement has changed drastically over the course of the past few decades. It seems that the classic concept of leaving work to sit at home living off a pension has evolved to say the least and you may be surprised to learn some of the reasons why. Well, to start with, we all know the that national and international business and financial systems have become frail to the point that people can just no longer count on a “guaranteed” pension to be there when it’s needed like they used to.

New Exciting Options for Tomorrows Retirees

At the same time, people are waking up to discover things like the fact that it’s in fact cheaper to live in a first class resort hotel at any number of exotic beach front vacation destinations than it is to stay in your average home town assisted living facility. Or those medical services are incredibly cheaper at these same places and just as good, if not better than what you can find in your community.

The Prospect of Bankrupt Social Systems

Also with social services dwindling ever more as the ranks of retirement age people continue to expand, people just like you are beginning to wonder just what type of government assistance, if any, will be available to them when their time comes due. It seems that the current administration promises the world, as they are spending the country into bankruptcy.

Financial Planning for Retirement That Assures Growth and Security

What this all means, is that while more viable options for a better retirement experience continue to increase, it also is becoming increasingly obvious that some level of strategic financial planning for retirement must take place to take advantage of them. Planning that not only insures that maximum growth will occur with regards to any savings and investments but also that these personal financial assets are secure and well protected.

Inflation Is Doubling Living Costs Every Ten Years

It really is not hard to recognize retired folks who have planned well even in the last ten or so years leading up to their leaving work to start enjoying their golden years. They aren’t stressed and they just seem to have the money that it takes to do the things that they have always wanted to do now that they have the time to do them. After all, you have to remember that living costs on average are doubling every ten years.

Interest on a Savings Account Just Can’t Keep Up With Inflation

What this means is that a simple savings account and the interest that it accrues just can’t keep up. Sure the amount grows each month but not nearly as fast as the prices on the things that you’re eventually going to have to buy with it. You simply must have other viable financial contingency plans in place on the day you clock out for good and finally start enjoying life.

Chesterton House Financial Planning Ltd is one of the leading independent planning firms in the UK. Visit the website to learn more about  financial planning for retirement

Mexico Retirement – Earn Money While Planning for the Future

Less than five years ago, many buyers were considering high-end luxury properties, with the best services, giving prices lower importance. The trend has now shifted slightly and more buyers are looking for slightly lower priced properties that still offer good lifestyle, a community atmosphere, and possibility for retirement usage. Real estate along Mexico’s Pacific coast present accessible options for planning a Mexico Retirement.

 

While in the U.S. real estate values which continue to be low are slowing down personal spending – people feel less rich, since the value of the home they bought is considerably less than they paid for it – Mexico real estate is showing steady and stable increases in value, and since properties are available for fairly accessible prices, owning real estate in Mexico is an excellent way for buyers to get back into the up-swing of real estate investment, both preparing for retirement and with the possibility of gaining an income.

 

There are many options within Mexico to consider; two excellent possibilities are on Mexico’s Pacific coast. Ixtapa-Zihuatanejo is located in the central part of the Pacific Coast. Ixtapa was created in 1972 as Mexico’s second integrated resort community, with Cancun as the first. Ixtapa Real Estate provides all the benefits of a community planned specifically for tourism and foreign property owners, with many beachfront activities available, and well-developed set of services, including excellent health care facilities. It is also just over the hill from Zihuatanejo, a longer established Mexican town, providing a traditional balance to newness of Zihuatanejo.

 

Mazatlan Real Estate, further up the coast, just across from the tip of Baja California, also provides a unique combination of beachfront luxury and Mexican tradition with a colonial city center. Activities, services, infrastructure and health-care are also top-notch here, and recent restoration of the old city center adds the possibility of a colonial fixer-upper for real estate buyers.

 

In both cases, retirees will enjoy a comfortable beachfront lifestyle with warm weather. In addition to this a home or condo bought in these areas will have good potential for rental to vacationers in the mean time to serve as an income, compensating ownership costs and making saving for retirement easier. With lower costs of living on the Mexican Pacific, these savings will stretch further than in other places.

 

TOPMexicoRealEstate.com; Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely

Planning For Retirement And Beyond

Retirement doesn’t mean the end of an active lifestyle. Quite the contrary, it opens up new opportunities for many new activities. Some retirees substitute voluntary community work for their former work. This gives definition or meaning to their roles after retirement.

Household work, volunteer work, family roles and community service actually increase after retirement. The familial roles of grandparents increase because of the expanded time available for travel.

The skills and knowledge acquired before retirement have value in the life of a retiree. Even if learning something new education and training affects the ability to do various activities at retirement. Lack of skill and a low literacy tends to limit the leisure activities of retirees.

A very difficult task to prepare for later on in life is the ability to cope with losses that increase as people get older. The productivity is the first loss in retirement but adjustment usually is short. Loss of a spouse generally has the biggest impact, and in general is the hardest to anticipate unless a terminal illness is diagnosed before death. The best preparation for a loss of spouse is to work on a sense of independence and self-reliance.

The two biggest concerns for retirement living were security of finances and health coverage. This is according to the GSA (Gerontological Society of America). Another great concern identified was isolation or lack of social support for well-being and loneliness or lack of support for emotional well being.

Planning for retirement must have preparation for financial well-being, a social support network, a set of meaningful activities and health care coverage. All of these concerns actually relate to each other. When a retiring person has a sound financial plan, the person can buy adequate housing and health care coverage. Retirement lifestyle is a continuation of the person’s middle-age life.

A sound lifestyle can last a long while. Friendship and family can provide the support network later on in life. Retirement planning which includes developing economic and social skills cannot anticipate everything but provides a good foundation for enjoyment of life later on.

A successful retirement living includes the creation of a network of groups, family members and friends. Few people choose to be alone from the rest even if approximately forty four percent of women and roughly 18 percent of men aged 65 or older lived without relatives. Fifty percent of women above 65 were widows.

Planning for Retirement – How to Lead a Fulfilling Retirement

Retirement doesn’t have to be seen as an end, but rather as a period of new opportunities. Too many older people see retirement as the end of the road.

After retirement, older people have more time on their hands and they are normally financially independent enough to explore new territories.

There are many stories about people taking up new study courses after retirement.  Others travel the world, write books or just enjoy the hobbies they never had time for.

The baby-boomers (born around 1940 to 1960) made it clear that they are not interested in getting old and their expectations of retirement are very different from those of previous generations.  Many have indicated that they are not ready to retire at the age of 65. This is, in many ways, good news for the country’s economy as they represent the majority of American business managers.

Technology has made it possible for people in affluent countries to live much longer and healthier than before. Retirement at 65, therefore, means another 20 or 25 years of quality living.

There are various ways elderly people can stay active in their communities and add value to the lives of others and their own.

Mentors

With years of experience in a certain profession older people has the time to provide quality assistance to family members or other people in their community, working in the same field. Experience is something you can’t learn from a book. For many years in history the only way the youth learned was by word of mouth. Knowledge could only be acquired at the feet of the elderly in the community.

Volunteer Work

Everybody understands the necessity of volunteer work in the community, but career people have less and less time to do volunteer work. People, in general, are quite happy and feel the need to assist charities, but it is, most of the time, rather a monetary assistance. While money is always appreciated, there are certain situations where money alone won’t solve the problem.

Providing food for the poor, needs money but it also needs hands. The still physically able can be invaluable here. Children’s homes need money, but affection and interaction with other caring people are sometimes more needed than money. Older people can make a difference in a child’s life in these circumstances.

The incredible changes in the world during the last 60 years will be reflected in the elderly of the next few decades.

Leave a Legacy by Planning for Retirement

On a recent trip, I recognized the value of leaving a legacy. My trip reminded me of the sacrifice, hard work, vision and commitment made by others that have benefited me immensely. The gift of my ancestors has enriched my life and provided amenities for which I am grateful.

As I reflected on the greatness of leaving a legacy, it brought to mind the importance of leaving a financial legacy and the benefit of creating a nest egg for progeny and future generations.

It is prudent to not only prepared for retirement, but to keep in mind the beneficiaries of residual retirement and other savings and the enriched lifestyle it affords to them. I have one client in particular who communicated how important it is to him that his spouse and his children and their children are financially taken care of upon his death. His top priority for investing prudently and wisely is for the benefit of his family. In choosing Paragon as his financial advisor, it was important to him that his priorities were equally important to us.

The value of leaving a financial legacy is priceless for both you and your family. First, your financial preparation allows you to be self-sufficient during retirement. Your preparation contributes to your peace of mind knowing your family will have increased financial ease. And in some cases, a monetary gift now to family members translates into tax benefits to you now. Most importantly, the simple act of giving is empowering and fulfilling for you.

Your progeny, of course, also benefits from you gift and preparation in countless ways. First, your monetary gift continues its growth possibly for years after death. Your gift enriches the lives and lifestyle of its beneficiaries– college education paid for, down payment for your newly married son or daughter, unforeseen financial strains eased etc. etc. Your preparation also sets a precedent and begins the pattern and habit of financial intelligence and education for years to come. Your gift opens doors and opportunities to financial success that otherwise may not have been available. Most importantly, your forethought, sacrifice and commitment will be remembered, appreciated and emulated by the next generation.

I am a big proponent of retirement planning, and planning now. One way to give to our families is by naming spouses and/or children as beneficiaries of IRA’s, 401(k)s, etc. Not only designating beneficiaries, but apprising family members that they are the recipients of such a gift. And then follow up with education on prudent investing when the funds transfer to their possession. Several different retirement options allow significant contributions, tax deductions, and ample time for growth and compounding. Of course, it is always important to consider risk, inflation, tax bracket, and investment time horizon, etc. when considering how to invest retirement monies.

Another option to ensure future generations benefit from your financial success is to establish trust. Trusts specify to whom assets are to be allocated and of course, are legally binding. Trusts also aid in estate planning and reconciling this aspect of financial planning. Most importantly, as my client did, make it a priority to leave a financial legacy.

My trip was enlightening as it reminded me that it isn’t all about me or us, but about what we give to others and the principle this instills in ourselves and in our families. Leaving a financial legacy to our families and future generations is empowering to both the giver and the recipient, and it is a gift that can grow for years to come.

Retirement Planning: the Ultimate Guide With Tips & Tools for Your Rich Future

So you have a job and you make money. Is it enough to cover all your expenses? Is it enough to put aside some money towards your retirement? What about those credit card debts, home mortgages, and travel expenses coming up? What about starting a family, paying for your children’s education? Have you already started planning for retirement? What steps have you taken? Perhaps you have consulted with retirement planning services and professionals or found some online sources for financial planning software and retirement planning tools.

Ok, so we have raised a number of questions and hopefully sparked some ideas and thoughts in your mind. Our last podcast introduced the topic of financial freedom and how the resources learned from our community can be shared with our listeners. The ultimate goal being that we can use this information to achieve financial success in our lives.

Well, here’s a little preview of our next several episodes about a Retirement Planning Guide, which will be sold in the future through leading book sellers like Amazon for $29.99. However, for a limited time, we are giving away this eBook as a FREE download along with a five part course which will be emailed to you. In addition, we know your time is valuable and as a service to our listners we have created this book as a audiobook which can also be downloaded for free by signing up now. To get this and other exclusive content now, sign up to our email list by going to http://www.financialresource.org We dont like spam either and respect your privacy.

Our next several episodes will dive into the contents of this Retirement Planning Guide. You don’t want to miss this series of podcasts if you are looking to personally manage your finances or are searching for a retirement planning guide, including retirement planning calculators and retirement planning software. All this valuable information along with tips and tools for retirement and financial planning are in this eBook to aid you with your own personal financial planning.

What is covered in this Retirement Planning book?

1. Things you should think about when starting your retirement plan.

2. How to determine how much money you’ll need now and in the future.

3. Maximizing your employer’s retirement plans while you can

4. How to find FREE MONEY in your employer’s retirement plans

5. Investing in the stock market to grow your retirement savings

6. What you need to know if you have to work after the age of 65

7. How to plan your will

8. The best way to use your home in your retirement plans

9. How to find health insurance in retirement

10. If you need to purchase long-term care and life insurance

Lots more…

We look forward to sharing this with you in the upcoming podcasts. Once again, sign up to our email list to get the FREE eBook and the five part course. Also if you want to get ready to listen to the podcasts on your iPod, visit us at http://www.financialresource.org click the iTunes link in the left sidebar. It will take you to the Financial Resource iTunes store. Click on the Subscribe button once you are in iTunes. With that final click, you are all set to automatically receive the latest FREE audiobooks and podcasts on this book.

Levels of Retirement Planning That Can Work For You

And it is true that a big part of being ready to retire involves being ready financially to be able to step out of the work world and start to take life easier.

But just as life is not just about making money, retirement is about so much more than having the money not to work. Preparation for retirement also means preparing to live a simpler life, preparing to become a senior citizen and a grandparent and preparing to look at life differently.

Your health care is going to be an important issue in your retirement years. As you enter retirement, you may be strong as an ox and active and full of health and life. But any of us can fall prey to poor health or accidents. And if your employer from whom you retired does not extend your health care insurance for you to continue your coverage past your employment, you should make other plans. You can continue the same coverage that you had under the Cobra system but that can get pretty costly and dip into your finite retirement savings pretty significantly. Medicare can be helpful too. But to be perfectly comfortable that you have coverage, look to Medicare supplement insurance so you maintain the same quality of care in retirement that you have now in the working world.

Do not just limit your retirement planning to your money. Your retirement will be a time of a big change of lifestyle and a change to your values and how you spend your time as well. You will have more time on your hands and studies show that those who enter retirement without an agenda can become adrift in all that time and that is not healthy. Human beings are doers so even though you may no longer be working for a living, find ways to be productive and make a difference in your community. You can start finding those opportunities long before retirement so when you finally step out of the work world, expanding those hobbies and volunteer efforts is as natural as can be.

In addition to the change of where you spend your time each day, you may have even a bigger change in where you live ahead for you in retirement. Many times people who step into their retirement years find that maintaining the house where you raised the kids is just not necessary and more work than it worth. Selling the home and using the equity to finance a leisurely retirement life is a great way to go. But you should start early both preparing the home for sale and preparing the family that a grandma and grandpa house is going away.

In addition, where you go to live is something that can be great fun to dream about and doing some research on just the right place. You may choose to rent a small place in an older part of town and enjoy a whole new lifestyle in that setting. Or you might go for a high-rise condo with a view of the river or a nice quiet apartment in a retirement oriented apartment complex where you and other retirees can explore this new world together.

Above all it is important to embrace the retired lifestyle with the enthusiasm and excitement that you might greet any new opportunity. Do not let being retired mean just not working. In fact, go through the mental and emotional exercises of putting the working world behind you and redefining yourself in this new role. You are retired now and you are a senior citizen and maybe even a grandparent.

These are not negative things. There is a strong role for grandma and grandpa in society and in your family. And the world takes great joy in a senior citizen who embraces that time of their life and sets out to be the best senior citizen they can be. If you predetermine that this is the kind of retired person you are going to be, that attitude will propel you past that sudden change of life shock and get your retired life off in running in an exciting way that will lead to many happy and fun times in your life of leisure as a retired person.

Retirement Planning – 2 Options To Consider For Successful Retirement

If you’re coming up to retirement age and worry about maintaining meaning in your life once you exit the work force then don’t.

There are several great options to consider as part of your retirement planning. Today, people are living longer thanks to modern medicine and advances in nutritional research and while this is great in a sense, it means making your retirement planning count much more as your nest egg needs to sustain you for a longer period of time.

The problem is though as a baby boomer, you’re not ready to accept old age. This means as a baby boomer you’re also part of the largest spending group in human history which means you may have been a little extravagant with your money. But that’s the nature of many boomers who refuse to let old age become an obstacle in their quest to enjoy all life has to offer.

So what can you do to give your life more meaning in your retirement years. Let’s take a look at just two options you should consider.

Phased Retirement

This is going to become a “biggie.” Phased retirement is still basically a term but will gather momentum during the next few years as boomers hit retiring age.

Basically, phased retirement will give you the opportunity to continue to work in some capacity past whatever age you decide to retire. There will be a broad range of options available. Here are some of them:

- you could consider a new part-time career

- you could take on seasonal work

- establish a flexible work schedule with your current employer

- stay with your current employer or former business as a consultant

- sell your business but stay on in a part-time basis

- take a year off before returning on a part-time based

The idea of phased retirement is to not only ease one into their golden years but to also maintain security in the shape of income. Yes, there will be tax and pension considerations but phased retirement is still basically at birth stage with many issues to be sorted out.

Join A Community

Going online and becoming part of a thriving community is a choice many smart retirees will make and will form part of retirement planning options.

For example, membership sites online offering everything from health and fitness news, financial news, income opportunities and lifestyle information will become big business in the not too distant future.

Becoming part of one of these online communities is a great way to develop new friendships, not just in your own country but around the world. Forums within these online communities will be a safe and effective way of meeting up with other smart retirees.

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