Do You Think You Are Ready to Retire?

Retirement is your key to easy street. Right? It's not unusual for people to believe that all they need to do when they start thinking about retirement in their 60's is to decide when they want to quit their job and then do it.  It sounds simple enough.  However, if you want to save yourself time, frustration and money, there are a few things you really need to figure out BEFORE you turn in that letter of resignation.

In fact in some cases, such as deciding when to collect your Social Security or where you are going to live, making a decision too hastily can cost you thousands of dollars.  While you can change your mind regarding some issues such as where you want to live, there are other decisions, such as those you make regarding Social Security, that are permanent.  Once you have begun collecting checks, you can't go back and say "I didn't know I could have chosen another option that would have paid me more."  You are stuck with the first decision you made.

Consequently, I recently wrote an article on Squidoo called, "What You Really Need to Know Before You Retire!"

This article gives you information about the decisions you need to make before you quit your job, and it also gives you links to the best books to help you get the detailed information that you will need in order make the smartest decisions for you and your family.

Even if you are already retired, you may still want to read this article because some of the information in it can help people even after they have retired, especially if they are thinking about moving to a new location or they are trying to determine how to invest their savings in order to maximize their income.

As the official "Retired and Loving It" Contributor for the online magazine Squidoo, I frequently write articles for them on topics that I believe will also interest my readers here at Baby-Boomer-Retirement.com.  As an added benefit for my blog followers, I post links here on this blog to interesting Squidoo articles that I or my fellow contributors have written regarding topics such as retirement, aging and health issues.

Here's another link to my Squidoo article:

http://www.squidoo.com/what-you-really-need-to-know-before-you-retire


You can also find additional retirement information by checking out the tabs at the top of this blog. They contain links to hundreds of articles about where to retire in the United States and overseas, medical issues for seniors, financial planning, family relationships and more.

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

Photo credit:  www.morguefile.com

Warren Buffet's Retirement Advice

There are probably very few investors in the world who are better known or more successful than Warren Buffett.  His Berkshire Hathaway fund, headquartered in Omaha, Nebraska, has done very well over the decades.

According to the Motley Fool investment advisers, at a shareholder's meeting in 2004, Mr. Buffett was asked by a participant how to invest their retirement savings.  Here is a summary of his comments:

*  First, he said, he and his associates never recommend that people either buy or sell shares of Berkshire-Hathaway.

*  Instead, they recommend that nearly everyone should invest their money in low-cost index funds, and spread the investment out over a ten year period of time, buying a little at a time.  According to Mr. Buffett, people who do this will be more successful than 90% of the people who try to pick individual stocks.

* According to Mr. Buffet, by spreading out your investment in an index fund out over ten years, you are also taking advantage of dollar-cost averaging, which means that your investment costs will be averaged out over years in order to have an average cost that is as low as possible.

* In this particular interview, the only company that he specifically mentioned was the Vanguard Index Funds, because they are cheap and reliable.  Vanguard has a variety of funds, including an S&P 500 ETF (exchange traded fund), a Vanguard FTSE All-World ex-US ETF, and a Vanguard Total Bond Market ETF.   If you invest in a little of each, you will have an extremely balanced investment portfolio.  According to Mr. Buffett, these actions will give you "diversification across assets and time, two very important things."

*  In addition,  he recommended that investors read books by John Bogle.  He said that any investor in funds should read them.  To aid the readers of my blog in finding them, here is a link to the correct Amazon.com page:  John Bogle's books on Amazon.com.

*  Mr. Buffett discourages investors from keeping all their money in cash.  While everyone should have some cash on hand for emergencies, according to Mr. Buffett cash will lose value over time, while the majority of businesses held by exchange-traded funds will become worth more over time.

If you are still at the stage of your life while you are saving for retirement, you may wish to read the books mentioned above, do your own research, and decide for yourself if you wish to follow Mr. Buffett's advice.  While no one investment decision is right for everyone, it is always a good idea to read the opinions of successful investors.  At the very least, Mr. Buffett's advice is likely to be far safer than some of the more risky investments that often tempt us with their promises of high (and often un-realized) returns.

Disclaimer:  I am not in the investment business; all recommendations mentioned in this blog are only presented here in attempt to present my readers with some of the options available to them.  All final investment decisions are purely the decision of my readers.

Source:

http://www.fool.com/investing/general/2013/12/30/warren-buffetts-super-simple-retirement-advice.aspx#.UsGQybS3ikw

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

Resources for Retiring in the United States

Are you trying to decide where you want to retire in the United States after you retire?  It can be a difficult decision.  Should you live near your current home, near your adult children or in an entirely new location?  Do you like winter sports, or are some empty beach chairs calling your name?

Your first step will be doing your research.  Do you know what the cost of living is in the different locations you are considering?  What is the weather like there?  Will your Social Security be taxed?  What about your other retirement income?  How much are the property taxes?

In the states that you are considering, which towns are the most affordable?  What types of sporting events, museums, golf courses and other entertainment options are available in the area?

If you are in the process of making up your mind about where you would like to live, you will want to be sure to check out the book review I wrote for the online magazine Squidoo about "Where to Retire: America's Best and Most Affordable Places."

This article also has links to a couple of other excellent books that will be useful in helping you find the perfect place to retire.  It's far easier, and cheaper, to do your research from the comfort of your current home than it is to drive all over the place or, worse, to move and realize that your new community is not what you expected.

If you are planning your retirement, you will also want to use the tabs at the top of this page to check out more articles about retiring in the United States or other countries, medical issues, financial concerns, and more.

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

(Photo credit:  www.morguefile.com)

Where to Retire near San Diego, California

For decades, the area around San Diego has appealed to generations of senior citizens who were looking for a pleasant place to retire with a mild climate and a wide variety of activities.  Thousands of men who were stationed in San Diego during their years in the Navy or Marine Corps chose San Diego as the one place where they wanted to live when they retired from the military.  Many other people fell in love with the city during a vacation stay.  Today, the city of San Diego and its nearby suburban communities continue to attract retirees from around the United States.  Here are some of the things you should know if you are considering moving to this part of the country.

Advantages of a San Diego Retirement

Many people believe that San Diego has the best climate in the continental United States.  It almost never freezes or snows and gets only about 12 inches of rain a year.  While you will still need to occasionally use your furnace at night in the winter, and you will want to have air-conditioning in the summer unless you live very near the ocean, you are still likely to find that your utility bills will be moderate to low compared with the bills in many other parts of the nation.  The typical temperatures in January range from a nighttime low of 47 to a daytime high of 65; in July, the average temperature range is a low of 63 and a high of 75.  Of course, when I lived in San Diego, I can remember a few occasions when the low winter temperatures in the inland areas dropped into the low 30's, and a number of occasions when the high summer temperatures would reach into the low 90's.

The mild weather is especially appealing to people who enjoy outdoor sports.  Whether you look forward to hiking, fishing, bicycling, swimming, golfing, tennis or participating in similar activities, you will find plenty of opportunities to spend time outdoors in Southern California.  There is no reason to give up winter sports, either.  During the colder months, you are only about a two hour drive to the ski resorts around Big Bear.  You can literally be walking on the beach in the morning and snow skiing that afternoon.

New residents will also find a large number of other senior citizens who are living in the area.  According to some estimates, there are over 100,000 members of senior citizen's organizations in San Diego.  In addition, the city is surrounded by a number of suburbs that are very popular with retirees, including El Cajon, Alpine, Lakeside, Oceanside, Murrieta and Temecula.

There are also a wide variety of ways to stay busy in the San Diego area, including a large selection of churches, museums, amusement parks that you and your grandchildren will enjoy, a world-class zoo, senior centers, sports teams, colleges, and all the restaurants, shops, malls, theaters and other amenities you would expect to find in a large city.  In addition, there are miles of public beaches that are, in most cases, easy to access.

Another advantage for retirees is that there is no California state income tax on Social Security and there are no sales taxes on food and drugs.  Property taxes range from 1% to 1.75% of the full value of the property.


Disadvantages of a San Diego Retirement

While San Diego may seem like an idyllic place to retire, the biggest disadvantage is the cost, especially if you wish to live near the ocean.  Home prices are estimated to be at least 40% above the national average, which makes it hard for retirees who wish to re-locate there from other parts of the country, especially if they expect to live in a home similar to what they owned in the Midwest.

Many people solve this problem in several ways.  They may decide to rent an apartment or home near the beach; they could decide to downsize to a much smaller home than the type they have previously owned; or, they might move to one of the inland suburban communities.  If they choose to live inland, there are a number of small towns and lovely retirement communities that are quite appealing.  However, if you live inland you will have to expect greater extremes in the weather ... slightly colder winters and hotter summers.  Many retirees feel that the trade-off is worth it, especially since they will still be living within an hour's drive of downtown San Diego and miles of gorgeous beaches.


Popular Locations to Retire Near San Diego

There are dozens of appealing retirement communities in the San Diego area, including elegant single-family homes, oceanside condominiums, and inland planned communities.  Here are a few neighborhoods that are particularly popular.  You will find dozens more by checking out the links in the resource section of this article.

Ocean Hills Country Club
High Country Villas
Chateau Lake San Marcos
Costa Serena in Oceanside
The Springs of Escondido or El Cajon
Pacific Regent in La Jolla
Waterford Terrace in La Mesa
Oceana in Oceanside
Chateau at Harveston in Temecula
Four Seasons at Murrieta

There are also dozens of assisted living communities and several appealing mobile home parks.  In addition there are a number of combination communities that offer both independent living apartments as well as assisted living and skilled nursing, all in the same community.  These are often referred to as Continuing Care Retirement Communities.  These facilities are perfect for couples in which one person is healthy and the other needs assistance.  With so many choices, there is sure to be an appropriate place to live, regardless of your health or financial situation.

In most cases, you will want to meet with a San Diego County Realtor to discuss your price range, whether or not you wish to live in an age restricted over-55 community or one that is open to all age groups, and the amenities that are important to you.  There are numerous communities that may work for you, so you do not want to zero in on one too soon until you have explored all your options.

You can also get more information about the places mentioned above, as well as dozens of other locations, by checking out the websites below.

Finally, you may be interested in purchasing the helpful Amazon book, "Where to Retire," which will help you find general information about popular retirement destinations around the United States.

Sources (use the links below to find more information about the communities mentioned above, as well as dozens more):

http://www.retirensdc.com/
http://www.seniorhomes.com/c/ca/san-diego/retirement-communities/
http://www.55places.com/california/area/san-diego
http://www.holidaytouch.com/Our-Communities/the-chateau-at-harveston
http://www.55places.com/california/city/murrieta


Amazon book: "Where to Retire - America's Best and Most Affordable Places" 

If you wish to get more information on places to retire in the United States and Overseas, or you are interested in information on financial planning, health concerns or family relationships as you age, use the tabs at the top of this page.

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

(Photo credit:  www.morguefile.com)

Resources for Dealing with Dementia and Alzheimers

As I mentioned recently, I am adding an extra post each week that will be primarily designed to provide my readers with links to resources that they will find helpful.  This is in addition to my normal weekly post.

This week's resource post will deal with dementia and Alzheimer's.  There is a contributor named Merrci with the online magazine Squidoo, who specializes in writing about these topics and I have found her articles to be very helpful and informative.  Not only does she provide useful information, but she has also included ads for some helpful books that she believes will enlighten people even more.  I am the official "Retired and Loving It" contributor on Squidoo, and I have discovered that the articles that are written by both of us appeal to similar groups of readers.

Here's a link to Merrci's most recent article:

http://www.squidoo.com/will-alzheimers-or-dementia-affect-your-family

Since my mother is suffering from advanced dementia, I know how difficult the situation can be for many families.  I am fortunate that my mother and father are currently living with my sister.  I'm not sure how long this arrangement will last.  Eventually, however, it is possible that my mother will need to be moved to a memory care facility.

Whether you are a Baby Boomer who is worried about your own declining memory, or you have aging parents who have been diagnosed with dementia, the information Merrci provides about assisted living, getting financial assistance to pay for it, etc., will be very helpful as you decide on the best way to handle this emotional situation.

Here are links to three Amazon books that you may also find helpful in dealing with this dreadful disease in your family.  Just click on the titles below to be taken directly to their Amazon page.

"A Caregiver's Guide to Alzheimer's Disease: 300 Tips For Making Life Easier"
"Alzheimer's Disease: What If There Was a Cure"
"Talking to Alzheimer's: Simple Ways to Connect When You Visit with a Family Member or Friend"


If you are a Baby Boomer or retiree who is looking for additional retirement or heath information, use the tabs at the top of this page to find links to hundreds of useful articles.

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

(Photo credit:  www.morguefile.com)