Sunday, April 22, 2012

Gambling Addiction During Retirement

Recently, several members of our family traveled to Las Vegas to celebrate the 30th birthday of our youngest daughter.  It was also a bit of a family reunion, with three generations of our family present. While walking along the edge of a casino to get to the hotel pool at the MGM Grand in Las Vegas, my nine year old grandson asked why so many "old" people liked to gamble!

I think that many of us tend to become less observant as we grow older.  I have become accustomed to seeing casinos filled with silver haired patrons, and didn't even notice how many were present until my grandson said something.  While most of the families that were visiting Las Vegas this weekend were enjoying a beautiful day at the pool or touring some of the fascinating attractions in Las Vegas, the casino was quite busy in the middle of the day with older patrons.  In fact, most of the chairs in front of the slot machines were filled with senior citizens.

Gambling Addiction is a Serious Problem for Senior Citizens

Upon returning home, I decided to research whether gambling addiction is a serious problem for retirees and I was shocked by what I discovered.  According to a Summer, 2009 AARP article, senior women are now the most likely group to develop a gambling addiction.

The same article reported that older people are more likely to develop gambling problems because they no longer work and have more available time.  Many casinos market directly to retirees.  They send buses to senior centers and retirement communities, pick up the residents of these communities, offer them a free lunch or other benefits, and take them to a casino where they spend the entire day.  These retirees then fill the day by sitting at a slot machine and pouring money into it until it is time to go home.  Despite the free lunch and transportation, these trips are very expensive for most seniors.  However, they often go to the casinos because they are bored at home and they want to get out and do something "fun."

According to the National Council on Problem Gambling, in an article on NCPgambling.org,, seniors are one of the fastest growing groups of gamblers.  Those who report that they have recently gambled have increased from 20% to about 50% during the past few decades.  As they gamble more and more frequently, seniors become more likely to develop a gambling addiction.

How to Get Help for a Gambling Addiction

If you, or someone you know, seems to have a gambling addiction, there is no reason to let it destroy your retirement.  Help is available.

You can find out more from Gamblers Anonymous at 1-888-GA-HELPS or http://www.gamblersanonymous.org/

or contact the National Council on Problem Gambling at (800) 522-4700 or http://ncpgambling.org/.

Let's keep our entertainment fun and family friendly, without letting it destroy our lives and our financial safety net.

If you are interested in additional retirement information, including financial planning, medical issues, where to retire or family relationships, use the tabs or pull down menu at the top of the page for links to hundreds of additional articles.

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Wednesday, April 18, 2012

Healing Relationships with Your Adult Children

Many Baby Boomers grew up in constant conflict with our parents.  We talked about the Generation Gap and changing lifestyles.  We demonstrated against the war in Vietnam and the values of the 1950's.  We insisted that "the times they were a changin'." However, as the years went by, most of us were able to heal our family misunderstandings and eventually maintain some kind of a relationship with our parents.

Some Baby Boomers are Now Estranged from their Children

Sadly, now it is our generation's turn to be on the receiving end of resentment felt by our children.  Surveys indicate that a significant number of Baby Boomers have grown up to become parents who are estranged from their own grown children.  In an article entitled "The Stranger in Your Family," in the April/May 2012 issue of AARP Magazine, the author discussed the increasing number of Baby Boomers who feel estranged from their grown children. 

Causes of Family Estrangements

Several experts in the AARP article mention that they have seen increasing numbers of parents whose adult children have cut communications with them.  In these families, children rarely, if ever, contact their parents and they sometimes do not accept the parents' attempts to contact them.  There can be several reasons for this. It could have started with conflict during the teenage years or a sense that the parents disapprove of their adult children.

However it began, one reason the article gave for the estrangements is that society and therapists now encourage people to only stay in relationships that feel good to them.  Therefore, if being around their parents causes these young adults to feel uncomfortable, unhappy, or guilty, they simply choose to stay away.  If they believe their parents are controlling or critical, the young person feels justified in avoiding these negative relationships, often with the support of their therapist.

Reading this AARP article made me feel sad, despite the fact that I have been able to maintain strong relationships with my own adult daughters and step-daughters.  I know how painful these estrangements can be, because I have several friends who are going through this.

How to Heal a Broken Relationship with Your Adult Children

In reading the article's suggestions for healing estrangements, I realized that I have already incorporated some of them into the way I have dealt with our own daughters.  Because this is such a difficult topic for many parents, I thought I would reiterate some of the things that experts believe can help:

Do not criticize your adult kids.  They are more sensitive than you realize.  If you don't like something you are hearing, simply say things like, "Hmmm," "You could be right," "That's interesting," "It will be interesting to see how that turns out," and "I hope everything works out for you."

Do not compare your children.  Appreciate their uniqueness.  Your children could have careers ranging from actor to scientist.  Never point out how much better off one is than the other.  Every career has its advantages and disadvantages.  Give them the dignity to figure out their own paths.

If you have a suggestion, make it once.  If they seem to misunderstand it, clarify it once.  Then drop it and never bring it up again, unless they ask you to repeat it or explain it.  Don't give unsolicited advice, especially about how to raise their kids.

If you accidentally offend them in any way, apologize.  Don't just tell them that you are sorry.  Tell them that their decisions only affect them, not you, so you shouldn't have said anything.  (OK, you may have to swallow your pride on that one.  That's why saying "Hmmm" a lot will keep you out of trouble!)

Accept your children.  Accept that they can have different ideas, different religions, different political beliefs, different sexual orientations, and different attitudes about money and life ... and that is OK.  You don't have to live like they do.  Enjoy watching their lives from the sidelines, much as you would a scandalous soap opera!

Celebrate their successes.  Don't mention their failures.

The Benefits of Accepting Your Adult Children and Their Choices

It isn't always easy to live by this creed and sometimes you have to bite your tongue a lot, but it is worthwhile.  Like most parents, I have watched our adult children go through stages that left me shaking my head.  However, today I love being invited to spend time with them as they help their own kids choose their colleges, and pick out prom dresses.  I love being included in trips with our adult children.  I think they have finally reached the point where they feel comfortable that I will not criticize them if things go wrong or if they make mistakes.  I can shrug things off and admit that things don't always work out for me, either.  They feel like equals in our relationship, and that's all adult children really want.

What to Do If You Are Estranged From Your Children

If you have been estranged from your children, be patient.  You will have to work hard to let them know that you no longer feel critical of them and that you accept them just as they are.  They may test you by flaunting behaviors that annoy you, just to see if you can avoid commenting.  You will have to be very careful, especially at first.

Meanwhile, send them birthday and Christmas cards, but don't lay a guilt trip on them if they seem to ignore the cards and not reciprocate.  Invite them to family occasions, but don't get upset if they don't always show up.  Send an apology, if necessary, for your past actions or hurtful words.  Take it slowly, and things will usually improve, although it could take years.

If you are interested in more information for Baby Boomers about improving family relationships, where to retire, financial planning, potential medical issues and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional articles.

You are reading from the blog: http://www.baby-boomer-retirement.com

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Sunday, April 15, 2012

Electronic Social Security Payments Only Option Since 2013

Beginning in 2013, the federal government ceased sending payments by check for any benefit program, including Social Security.

If you are one of the 90% of Social Security recipients who already received your payments electronically, this recent policy change by the federal government did not affect you.  However, if you are among the 10% who were getting a Social Security, veterans' benefit, railroad pension or federal disability payment by check, you needed to make arrangements to accept those payments electronically.  If you are new to Social Security, you will have to decide which electronic method you prefer for receiving your benefits.

How to Receive Your Social Security Benefits Electronically

There are two ways to receive your payments.  You can either have them direct deposited into your bank account, or you can ask to be sent a debit card and the federal government will deposit your funds onto the debit card each month. 

There are significant advantages to the federal government with these changes.  First, the government saves about $120 million a year by not being required to deal with paper checks.  Social Security will save approximately $1 billion per decade.  This procedure for electronic payments is also safer for individuals.  In 2010, over 540,000 federal benefit checks were reported lost or stolen.

However, for some elderly people who do not have bank accounts or who are not used to electronic payments, there could be some difficulty getting used to handling their benefits electronically.  Those individuals will receive a debit card and they will have to use it to get cash from a bank or use it to make purchases.  Although there will be no charge to make purchases, the bank can charge them a fee for cash withdrawals.

If you have an elderly parent who may be impacted by the changes, you can get more information at 1-800-333-1795 or at the government website, http://www.godirect.org/.

If you want to stay up-to-date with other retirement information, use the tabs or pull down menu at the top of the page to find links to hundreds of additional articles on retirement planning, where to retire, health issues, family relationships and more.

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Thursday, April 12, 2012

Simplify Your Life for Retirement

As most of us approach retirement, we look forward to spending our free time doing all the things we have wanted to do for many years.  Now is the time when we can go to the beach, go fishing, spend time camping and hunting, write books, read books and enjoy all manner of relaxing pursuits.

However, if we want to make these things happen, one of the things most of us must consider is how to simplify our life.  We need to cut back on our expenses, and find ways to do the things we enjoy in the most affordable way possible.

This simplification can be a very empowering experience, as we learn ways to make life a little easier.  Below are some of the steps you may need to do before your retire, so that you can afford to relax once you stop working.

How to Simplify Your Life and Enjoy Your Retirement

Cut Your Housing Costs -- Can you move to a less expensive place?  Downsizing would not only save you money on mortgage and taxes, but also save you money on utilities.  Are there other housing costs that you can reduce?  For example, can you switch to a less expensive cable TV system; or use a Magic Jack rather than a traditional telephone line?  Look for all the ways you can cut your housing expenses to the bare minimum.

Consider Moving to a Retirement Community -- There are many reasons why moving to a retirement community could help you simplify your life.  Depending on the community, many of them have affordable housing, low cost or free entertainment, and a wide variety of ways to stay mentally and physically active.

Cut Other Costs -- Can you cut back on auto expenses, restaurant meals, cell phones bills, internet, etc?  Think of cost cutting as an adventure, and work together to find all the ways you can reduce your expenses.

Find Inexpensive Hobbies -- Whether you decide to stay in your current home or move to a retirement community, find hobbies that you can afford to enjoy. Whether you take up walking in your neighborhood, swim in the public pool in your community, see movies during low-cost matinees, join a book club, or take free classes, there are many activities available to senior citizens that are free or very low cost.

The Advantages of Simplifying your Life

When you cut your costs, you may find that you are also making your life easier in several ways.  For example, if you reduce the size of your residence, you will also need to spend less time cleaning and maintaining it. This alone will enable you to spend more time in leisure pursuits.

If you cut your expenses, you may find that you have less stress over your financial situation.  It may also enable you to retire a little sooner than you thought possible.

Don't wait until after you have quit your job.  Start simplifying your life as soon as you begin planning your retirement, so you have a realistic picture of how much money you need to live, and what it will take to really enjoy your post-retirement years.

If you are interested in learning about other ways to get the most out of your retirement, use the tabs or pull down menu at the top of the page to find links to hundreds of additional articles about financial planning, where to retire, health issues that can arise in retirement, changing family relationships and more.

You are reading from the blog: http://www.baby-boomer-retirement.com

photo courtesy of photoxpress.com