Have a Better Cruise Experience

Going on a cruise is one of my favorite vacation experiences and apparently this is also true for many other Americans, especially retirees.  I love being able to visit multiple locations without having to arrange for transportation from city to city.  I also enjoy the freedom from constantly packing my luggage and moving to a new hotel every few days.

While I already consider cruising one of the easiest forms of travel, I also have a few tips that may make it an even more practical travel choice.  While you may not want to try all these things, pick out a few and see if they make your next cruise even more pleasurable:

Tips for a Better Cruise

Limit your luggage.  I usually take far too much clothing on my cruises.  Depending on whether you are going to a tropical location or cruising near Alaska or North Europe, you should be able to get by with just a few color-coordinated outfits that work well if you mix and match them.  Throw in one dressy outfit.  A knit "little black dress" is practical and it won't wrinkle easily.   You can change the look with a dressy jacket, jewelry or scarves. Your room will be more comfortable if you don't overpack and you  may not have to wait to have your luggage delivered to your room if you are able to just carry your bag on board by yourself.

Don't overspend on cruise extras.  For example, your regular dinner table will serve fabulous meals every evening.  Do you really want to spend extra money to go to a specialty restaurant on the ship?  You may also want to steer clear of the gift shops.  Often they carry the same lines of high priced souvenirs that are for sale in upscale hotel gift shops everywhere.  Unless you forgot to pack a swimsuit or you really want a sweatshirt with the name of your cruise line printed on it, you can probably skip most of the items in the gift shops.

Don't spend all your days in port taking excursions. Instead, spend some time exploring the ports on your own, especially if you can rent a car or take a cab and get away from the tourist sites that are clustered near the port. One of the delights of traveling to new locations is getting to experience new adventures.  If you are cruising in Hawaii, for example, you may want to visit the erupting volcano on the Big Island and tour the Pearl Harbor Memorial on Oahu, and it may be easiest to see these attractions if you sign up for a tour.  However, you do not want to spend all your time and money on excursions.  You can happily wander around many of the port towns on your own.  When we have traveled in Hawaii, the Caribbean, Alaska and Europe, whether we were on a cruise or not, my family and I enjoyed getting away from the tourist attractions and exploring the towns on our own.  We signed up for a few excursions and tours, but we always left ourselves plenty of free time, too.

Eat right and get exercise.  While you are on your cruise, it is easy to eat all day long.  Food is available almost everywhere!  However, if you sit around on deck chairs, eating and drinking all day, you will start to feel sluggish after a few days.  Take advantage of the fitness facilities.  I enjoyed taking a yoga class and my husband competed in a golf tournament on one of our cruises.  Rather than going to the breakfast buffet, where we knew we would be tempted to overeat, we asked to have a bowl of fruit, tea, coffee and oatmeal delivered to our cabin each morning.  We also tried to eat a reasonable lunch.  After being good during the day, the generous five course dinners we enjoyed each evening were a luxury that we could consume with less guilt.

Don't forget to enjoy all the on-board opportunities to do something new.  The cruise social director has usually planned lots of fun activities for your enjoyment.  Take a dance class, enter a talent competition, learn a few new casino games, and watch the world-class entertainers.  There are always exciting activities going on aboard a ship.  Have fun and participate.  You might not have the chance to see or do some of these things again.

For more helpful tips, you may also want to read my recent blog post:   Is It Safe to Cruise on Your Next Vacation?

If you are retired are approaching retirement, you may also want to check out the index articles below.  Each one contains links to a number of articles on that topic:

Gifts, Travel and Family Relationships

Great Places for Boomers to Retire Overseas

Great Places to Retire in the United States

Health and Medical Topics for Baby Boomers

Money and Financial Planning for Retirement

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

Photo of cruise ship courtesy of morguefile.com

Explore the Ed Slott Retirement Rescue Plan

On several occasions in this blog I have mentioned the fact that many Baby Boomers are not prepared for retirement.  I frequently encourage people to postpone their retirement as long as possible in order to maximize their Social Security.  I have also given suggestions to help readers find a fun retirement job.  However, for most people these actions will need to be supplemented with at least some retirement savings.  This reality may be discouraging to those of you who know that you have not done enough financial planning.  Fortunately, for most of us it is not too late to turn things around, protect our assets, and have a more financially secure retirement.  With just a little information and a few simple steps, you can get started on the road to a better retirement.

Ed Slott is a highly respected investment advisor, CPA and IRA specialist who was recently featured on PBS in a program called "Retirement Rescue."  In this televised program, he outlined what people should be doing in order to have a financially secure financial plan for retirement.  Listed below are some of the suggestions he has, as well as a link to Ed Slott's books from Amazon.  It wouldn't be fair to review his ideas without giving you an opportunity to buy his books directly, so he can profit if you decide to use some of his advice.

Avoid Taxes

No matter how much or how little you have saved towards retirement, you want to make sure you get to keep as much of it as possible.  Ed Slott recommends that you make a plan to minimize the taxes you will pay after retirement.  You don't want to give the government any more money than necessary.

Move you money from accounts that are taxed to accounts that will not be taxed.  Yes, it really is possible!  In fact, I've made this same suggestion in my blog in the past.  My husband and I recently moved our investments from a traditional IRA to a Roth IRA.  We paid taxes on the value of the investments we currently have in the account.  However, the investments we have can now grow and, when we withdraw the money in our 70's, we will not have to pay income taxes on our withdrawals.  In other words, we paid taxes on our retirement assets now so we won't have to pay taxes on them later ... which is exactly what Ed Slott recommends.  There is a waiting period before we can can begin to withdraw the profit on our retirement savings, but it is worth it to us.

Another advantage of the Roth IRA is that we will not have to begin withdrawing the money as soon as we turn 70 1/2.  Our money can continue to grow tax free until we want to withdraw it.  There are no mandatory withdrawal rules.

Mr. Slott also says that another way to reduce your taxes is by purchasing permanent life insurance.  There is a federal tax exemption for the proceeds of a life insurance policy.  This is a major benefit for your dependents, and can be particularly helpful for a spouse who is left behind when the breadwinner dies.  Mr. Slott believes that permanent life insurance is an investment.  The money that is paid in premiums grows tax free and you can tap into the value, while you are still alive, if you need the funds to help fund your retirement.  Whatever is left becomes cash to help support your dependents.  If you decide to buy life insurance for this purpose, make sure you are buying permanent life insurance that builds a cash value.  It costs more, but it can benefit both you and your heirs later on.  Since I am no insurance expert, you may want to read one of Mr. Slott's books in order to be certain your fully understand this option.

Minimize Your Investment Risk

Mr. Slott also believes that the majority of people should not rely on the stock market for their investments.  It is much too volatile and unpredictable for people who are retired or near retirement age.  He points out that far too many people lost a substantial amount of their retirement savings in the last stock market decline.  Consequently, he recommends that people put some of their money into annuities that will give them a guaranteed stream of income for the rest of their life.

One suggestion he has that intrigued me is to buy annuities in a Roth IRA.  This will provide a guaranteed income stream that is tax free!  He also points out that it is important that you use a reliable, well-known annuity company and respected money managers when you choose an annuity.

I have to note that annuities are one area that is controversial.  Some retirement specialists believe in annuities and others strongly believe that they are a bad idea and that you can do better if you invest your money conservatively in dividend paying stocks, government bonds or similar investment products.  You will want to consult your own investment adviser (or perhaps several) before making a final decision on which investment instrument is the best way to provide you with supplemental retirement income.  Some advisers recommend finding funds that pay dividends and also allow your principle to grow. 

A Better Approach to Saving Money

We all like to save money and this desire may cause some people to be reluctant to spend money on their retirement planning.  However, now is the time to spend the necessary money needed to invest in your retirement.  Pay taxes now; buy life insurance; buy annuities or invest your money in funds.  According to Mr. Slott, it is important to spend some money now, so that you can have a much larger retirement income later.

Reduce Uncertainty

We all want to avoid uncertainty about our future financial security.  Ed Slott points out that following his program will reduce or eliminate the amount of insecurity and uncertainty you will have about your financial future.  If you follow his recommendations exactly, it is true that you will have avoided uncertainly by avoiding taxes and buying annuities.  You will know exactly how much your assets are worth and how much income you will have.  This is why he says you can rescue your retirement by simply following his suggestions.

Avoid Inactivity

Finally, Ed Slott also says that one of the worst killers of retirement planning is inactivity.  If you don't take any of these steps to protect your assets and rescue your retirement, the inactivity could result in disaster.  The sooner you begin to take at least some of the steps mentioned above, the better your results will be.  No matter how old or young you are, everyone should sit down and make a plan that will maximize the amount of retirement income they will have after they retire.

Where to Get More Information

You will almost certainly want to get more specific information on how to follow this investment program if you decide to give it a try.  If so, you can use this link to order Ed Slott's Retirement Rescue books from Amazon.

Obviously, I cannot include all of the details of his plan in this blog post ... and it wouldn't be fair to Mr. Slott if I did.  However, I have found his advice to be so thoughtful and helpful that I wanted to be sure that my followers knew about it.  The whole goal of this blog is to make sure that as many people as possible have a satisfying, comfortable and fun retirement.  Financial insecurity will go a long way towards making sure that happens.

In addition, you may want to get information on other retirement issues by checking out the index articles below.  Each one contains links to a number of related articles on that topic:

Gifts, Travel and Family Relationships

Great Places for Boomers to Retire Overseas

Great Places to Retire in the United States

Health and Medical Topics for Baby Boomers

Money and Financial Planning for Retirement


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

Photo of Ed Slot courtesy of www.en.wikipedia.org/commons

Colonial Heritage near Historic Williamsburg, Virginia

Do you love history, yet you want to live in a modern retirement community with lots of popular amenities such as golf, swimming pools, a clubhouse and exercise facilities?  If so, you should consider moving to the charming Colonial Heritage over-55 retirement community by Lennar Homes near historic Williamsburg, Virginia.  It's the perfect spot for people who enjoy both early American history as well as the comforts of modern America.

Whether you are interested in volunteering as a docent in Colonial Williamsburg, or you want to spend your days playing golf, working with wood or enjoying other community activities, this is a wonderful place to retire.

Facts about Retiring in Virginia

Before you decide on a retirement community, of course, you need to decide if retiring in Virginia is the right choice for you.  One of the appeals of Virginia is that home prices and the overall cost of living is reasonable as soon as you get away from the Washington, DC area.  One of our daughters went to college in Virginia and, when we visited her, we fell in love with the charming small towns, quaint farms, and the drive along the Blue Ridge mountains.  The entire state only had a population of about 8 million people in 2012.

If Social Security is going to be your primary source of income after retirement, there is another reason why you might love living in Virginia.  Your Social Security benefits are exempt from income taxes.  In addition, the real estate websites tout the fact that there are no state inheritance taxes.

Williamsburg, Virginia

 According to Money Magazine, Williamsburg is Number Five on their list of the "Best Places to Live". 

In additional to the interesting attractions in the township of Colonial Williamsburg, the city has two hospitals ... important for residents who are planning to age in the area.  Both the Norfolk and Richmond airports are less than an hour drive away.

The weather in the mid-Atlantic states is more temperate than you'll find in the Northeast.  The average high temperature in July is 89 degrees, and the average January low is 28 degrees.  Thunderstorms are common, with July being the wettest month of the year.  We have experienced a few Virginia thunderstorms, and they are quite dramatic, so be prepared!

Residents of Williamsburg are also a short drive away from the Virginia coast.

Amenities at the Colonial Heritage Retirement Community

Once you have decided that living in the Williamsburg, Virginia area is the right choice for you, you need to decide whether you would prefer to live in the town or in a nearby master planned community.  While the town has a lot to offer, here is a list of the amenities available in the lovely Colonial Heritage retirement community.

Over-55 gated community
Elegant clubhouse
18 hole championship golf course
Tennis courts
Indoor pool with floor to ceiling windows
Outdoor resort style pool
Ballroom
Two community restaurants
Meeting rooms, card rooms and a billiards room
Fitness room / Athletics center
Arts and crafts room
Woodworking shop
A variety of community organizations including the history and culinary clubs.

Homes and Home Prices

Lennar Homes, a respected national home builder, is the developer of Colonial Heritage.  They are actively in the process of building a neighorhood of charming low-maintenance homes on 1500 acres.

In 2013, home prices in the community ranged from about $260,000 to $460,000 for a single family home.

Homeowner's dues in 2013: $258 a month.

Contact Information

Colonial Heritage
7015 Statesman
Williamsburg, Virginia 23188
(877) 785-3662

ColonialHeritageVA.com

More Information:

If you are interested in learning more about historic Colonial Williamsburg, you may be interested in reading one of these books from Amazon:

Insider's Guide to Williamsburg 16th: and Virginia's Historic Triangle

Official Guide to Colonial Williamsburg

Resources:

"50 Best Master-Planned Communities in the U.S." Where to Retire Magazine, July/August 2013.

http://www.colonialheritageclub.org/home.asp

 http://www.topretirements.com/state/virginia.html

If you are currently planning your retirement, you may also want to look through the index articles below.  Each one contains links to a variety of additional resources.

Gifts, Travel and Family Relationships

Great Places for Boomers to Retire Overseas

Great Places to Retire in the United States

Health and Medical Topics for Baby Boomers

Money and Financial Planning for Retirement

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

Photo of Colonial Williamsburg courtesy of www.en.wikipendia.org/commons

Golf Carts vs Golf Cars for Retirees

According to Federal Highway Administration estimates, in 2009 Americans drove over 65 million miles while using almost 70,000 golf cars and golf carts on public roads and streets. This is the only year in which the federal government tracked these types of vehicles.  However, the information they gathered is quite interesting and shows how popular these vehicles are becoming across the United States.  Although they appeal to people in all age groups, retirees are finding the vehicles to be especially useful.  In fact, it is estimated that nearly one-half of the golf car and golf cart drivers in the U.S. are age 65 or older.

Why Golf Carts and Cars are Gaining in Popularity

There are a number of reasons why people are finding these vehicles appealing:

1.  Most of the golf cars and carts that you see today are battery powered electric vehicles. This makes them very economical to drive.

2.  With prices ranging from $2,500 for a used golf cart, up to $25,000 for a fancy, custom one,  and as much as $32,500 for a Think car, many people find that they are more affordable than keeping a traditional car.  Federal tax credits of up to $2,500 have also made the vehicles even more affordable.

3.  In many places, these cars and carts can be driven on the street, and they are easier to park than the average automobile.  In fact, the American Custom Golfcars company estimates that 85% of the vehicles their company manufacturers will never be seen on a golf course!

4.  Some locations are particularly golf cart friendly, such as the islands in Newport Bay, here in Southern California, or a number of small towns and master planned communities across the United States, especially golf course and over-55 communities.

5.  In some neighborhoods, retirees who have lost their driver's license can continue to legally get around their community while using a golf car or cart.

6.  The Think Car promotes itself as the car that requires about as much attention as a mobile phone.  Plug it in and it is ready to go in the morning.

7.  Both golf cars and carts are quiet and clean ... perfect for people who are concerned about the environment.

However, before you purchase one of these vehicles and decide to hit the roads in it, you will want to know about the different laws that govern each of these types of vehicles ... especially the laws in your area.  The laws can be very confusing, so be sure to check the rules in all the local jurisdictions where you will be driving.  Listed below are some of the rules that apply here in Southern California.  You will see that regulations can vary from town to town, even in communities that are only a few miles away from each other.

Golf Cart Rules

The California Department of Motor Vehicles does not require that golf carts be registered if they are only used within a mile of your home.   Brake lights and turn signals are not required, although it is highly recommended that you have a street ready vehicle if you are planning to primarily drive it on public roads.

However, it is important to note that, according to California state law, golf carts may only be driven on roads with a speed limit of 25 m.p.h. or less.  This eliminates many thoroughfares within the state.

City rules may override the state laws.  For example, in the town of Newport Beach, both golf cart and golf car drivers must have a driver's license if the vehicles are driven on public roads. 

On the other hand, in the nearby town of Laguna Woods, where the vehicles are primarily driven on private roads and trails, drivers are not required to have a driver's license.  In fact, Laguna Woods has plans to expand the number of golf cart trails that are currently available to make the area even more accessible to these vehicles.

Golf Car Rules

The California Department of Motor Vehicles does require that golf cars be registered.  These low speed vehicles are also expected to have some of the street ready safety features common in regular cars, such as brake lights and turn signals.

According to California state law, golf cars (which are also referred to as neighborhood electric vehicles or low-speed vehicles), are limited to roads with a posted speed limit of 35 m.p.h. 

The Think car is able to go up to 70 mph, so it may be allowed on roads with a higher speed limit.  You should check with local authorities to see what rules apply to you.

Golf Car vs Golf Cart

What is the difference between a golf car and cart?  Golf carts are typically open on the sides (although special covers can be purchased) and they are what most of us are accustomed to seeing on the golf course.  By comparison, the most common type of golf car is the Ford Think.  I have seen some of these on Balboa Island, in Newport Bay, where I frequently like to take walks.  Although they look like miniature cars and are fully enclosed with side doors, they can be smaller than some golf carts.

Golf carts tend to be less expensive than golf cars.  However, they are not as protective in cold or rainy weather.  In addition, in California and some other states, they can only be legally driven on roads with a speed limit of 25 m.p.h. or less.  Golf cars are slightly more protective and can be legally driven a bit faster.  The type of vehicle that is best for you may depend on the climate where you live, the speed limit in your neighborhood, whether you plan to primarily use it on the golf course or on public streets, and local regulations regulating the use of these vehicles.

Whichever type of vehicle you have, it is reassuring to know that in many places these vehicles will allow you to continue to stay mobile within your own neighborhood, even after it is no longer possible for you to hold a driver's license or drive long distances.  For many seniors, this is the best reason of all to own one!

Source:

"Golf Car Drivers Take to the Streets," Laguna Woods Globe - OC Register.  Tuesday, August 1, 2013.

http://www.thinkev-usa.com/

If you are getting ready to retire, you may also want to check out the index articles listed below.  Each one contains links to additional articles on the mentioned topic.

Gifts, Travel and Family Relationships

Great Places for Boomers to Retire Overseas

Great Places to Retire in the United States

Health and Medical Topics for Baby Boomers

Money and Financial Planning for Retirement


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

Photo of golf carts courtesy of www.morguefile.com