So Baby Boomer: Life Tips

This isn't Supposed to Happen to Me

By Guest Author Charlie Hudson

As we age, most of us expect to remain vital and independent.  If you have already experienced an elderly loved one losing the ability to do things they once enjoyed, you probably silently thought, “This is heartbreaking, but this won’t happen to me.” 

Of course not – it’s what happens to other people. After all, today’s 70s are the new 50’s. Despite healthier lifestyles in general and advances in medical treatments, each of us faces the likelihood of significant decline if we live long enough. It may be incremental or an unexpected illness/injury that brings us face-to-face with a fragility we were convinced did not, would not, apply. And that’s what makes planning ahead so important. 

If sheer force of will altered these dynamics then my former mother-in-law would have ended her life as she envisioned, fading gently away, fully mentally intact.  Although she had a plan for her later years, she was emotionally unwilling to adjust when reality didn’t match her plan. What I learned in the excruciating months as she spiraled downward was that we were not prepared for what took place. I spoke with nurses, nutritionists, therapists, doctors, and a lawyer. I had numerous conversations with a social worker and ultimately with hospice personnel. I had to let go of how I thought things would be and watch another person literally waste away in front of me. Later, muddled financial documents consumed almost two years to untangle notwithstanding the modest size of the estate. 

The fundamental point is that none of us truly knows what the future holds. Many topics that require planning are unpleasant, but planning doesn’t get easier in the midst of emotional crisis. Coming to genuinely understand this is why I wrote, Your Room at the End: Thoughts About Aging We’d Rather Avoid. There will be things beyond your control and beyond your knowing, but developing a plan that you can then appropriately adjust is most assuredly within your power. This is not something that you have to do in isolation and there are many sources to turn to. It is a matter of being willing to do so. 

You can contact Charlie Hudson through her web site, http://www.charliehudson.net/  or her blog, Living Forward, Looking Back at http://www.charliehudson.net/weblog

 Charlie Hudson: Your Room at the End

 

Boomer Views of the Golden Years of Retirement

One in four retirees think life in retirement is worse than it was before they retired, according to a poll by NPR, the Robert Wood Johnson Foundation, and the Harvard School of Public Health released today. The poll shows stark differences between what pre-retirees think retirement will be like, and what retirees say is actually the case. 

“Those of us over 50 and working are optimistic about our future health and health care, but that optimism is not necessarily shared by those who have already retired,” said Risa Lavizzo-Mourey, MD, MBA, president and CEO of the Robert Wood Johnson Foundation. “Many people who have already retired say their health is worse, and they worry about costs of medical treatment and long-term care. Insights from the poll can help policy-makers and others think about how to meet the needs of aging Americans. There are changes we can make to our health care system, finances, and communities that might help ensure that our retirement years will be as fulfilling as we hope.” 

The poll focuses on views and experiences related to retirement among people over age 50, including not only people who have retired, but also people who plan to retire (“pre-retirees”) and those who do not plan to do so. It was conducted by researchers at the Harvard School of Public Health. 

Findings show that a large majority of retirees say life in retirement is the same (44%) or better (29%) than it was during the five years before they retired. Many retirees say their stress is less, their relationships with loved ones are better, their diet is improved, and the amount of time they spend doing favorite activities is increased – yet 25 percent of retirees say life is worse.

Pre-retirees: At what age do you expect to retire (or partly retire, for those who never expect to completely retire)?

Retirees: At what age did you partly or completely retire?

  
“The poll shows that a significant number of people who are near retirement may be underestimating the challenges of retirement,” said Robert Blendon, professor of Health Policy and Political Analysis at the Harvard School of Public Health. “When you compare what people think retirement will be like with what retirees say it actually is like, there are big differences. Pre-retirees may underestimate the degree to which their health and finances may be worse in retirement.”

NPR is reporting on the findings and American’s deep-rooted attitudes toward retirement in a six-part series, “Life in Retirement,” beginning today on Morning Edition and All Things Considered. Stories in the series are at www.NPR.org.  

Complete poll results can be found at http://www.rwjf.org/, http://www.hsph.harvard.edu/, and http://www.npr.org/.

Fall Blogging Boomer Carnival #226

Come and visit the Fall 2011 Blogging Boomer Carnival hosted this week by Laura Lee Carter, the Midlife Crisis Queen.  You will enjoy what you discover Baby Boomers are about today..including their life challenges!

To protect your retirement nest eggs, why play in the U.S. Stock Market today?

Safety by Smartphone

By Guest Author Meggin Sanez of Best Black Dating Sites

A far cry from the times in which you grew up, you find yourself now living in a world where it seems that life revolves around our phones.  Modern technology has worked its way into our day-to-day and delivers us an unparalleled convenience that we can’t imagine having ever gone without.  Yet as we reap the benefits of such convenience, we don’t always take full advantage of the applications that are available to us on our mobile devices.  Also considering the fact that the world is much more dangerous than it used to be, using technology to the fullest is something to really think about…especially when it comes to the safety of you and your loved ones.

Whether you’ve made the switch to a smartphone or not, it is most certain that someone of importance in your life has.  Therefore the article, “5 Cheap Safety Apps Every Woman Should Download” is a must read for you and any woman you know who is connected and on the go.   In this beneficial piece you will discover information on some of the best smartphone applications created to make your life and those you love safer.  ZoomSafer, Safety Button, Net Safety, SafetyNet Mobile, and cab4me each provide the user with unique features such as emergency contact alerts, alarms sent to authorities and ambulances in case of trouble, and tips to remain up to date on issues regarding privacy, safety, and security.  To learn more about how you can rest assured in a world where you can never be too safe, be sure to check out and pass along.  

When it comes to family events and gatherings, sometimes you find yourself frustrated because everyone seems to be more fixated on their phones than actually spending quality time with one another.  Well the next time the kids are home from college or your daughter is busy texting at dinner, instead of yelling at them to put the phones away you might actually find yourself asking your loved ones to keep the phones on the table. 

By downloading a few inexpensive apps, your family is provided with safety and you are provided with an unshakable peace of mind.  Protecting your family has always been your number one priority…so with the technology available to us in this modern day, it is now easy to take even further steps to make sure that everyone you love is safe.

How $1 Million can Disappear

The bursting of the "debt bubble" which started in 2008 is far from over.

It's the financial story of our age and it's happening before our eyes. The full scope is hard to keep up with because it's unfolding at various levels.

The top level is the sovereign debt crisis:

• National governments: Several in Europe and even the U.S.
• State and local governments: services slashed; vendors waiting to get paid.
• Corporations: financial institutions at home and abroad remain in questionable health. PIMCO Chief tells Bloomberg (9/13) "We're getting close to a full-blown banking crisis in Europe." And CNBC reports (9/14) "Moody's Investors Service said...it downgraded the credit ratings of Societe Generale and Credit Agricole."
• Individual Households: "under-water" mortgages; "new conservatism" toward spending.

As the credit bubble continues to deflate, the evaporation of vast wealth may follow on a historic scale. Please read this excerpt from the second edition of Conquer the Crash (pp. 94-95):

"...a lender starts with a million dollars and the borrower starts with zero. Upon extending the loan, the borrower possesses the million dollars, yet the lender feels that he still owns the million dollars that he lent out. If anyone asks the lender what he is worth, he says, 'a million dollars,' and shows the note to prove it. Because of this conviction, there is, in the minds of the debtor and the creditor combined, two million dollars worth of value where before there was only one. When the lender calls in the debt and the borrower pays it, he gets back his million dollars. If the borrower can’t pay it, the value of the note goes to zero. Either way, the extra value disappears...

"The dynamics of value expansion and contraction explain why a bear market can bankrupt millions of people. At the peak of a credit expansion or a bull market, assets have been valued upward, and all participants are wealthy -- both the people who sold the assets and the people who hold the assets. The latter group is far larger than the former, because the total supply of money has been relatively stable while the total value of financial assets has ballooned. When the market turns down, the dynamic goes into reverse. Only a very few owners of a collapsing financial asset trade it for money at 90 percent of peak value. Some others may get out at 80 percent, 50 percent or 30 percent of peak value. In each case, sellers are simply transforming the remaining future value losses to someone else. In a bear market, the vast, vast majority does nothing and gets stuck holding assets with low or non-existent valuations. The 'million dollars' that a wealthy investor might have thought he had in his bond portfolio or at a stock’s peak value can quite rapidly become $50,000 or $5000 or $50. The rest of it just disappears. You see, he never really had a million dollars; all he had was IOUs or stock certificates. The idea that it had a certain financial value was in his head and the heads of others who agreed. When the point of agreement changed, so did the value. Poof! Gone in a flash of aggregated neurons. This is exactly what happens to most investment assets in a period of deflation."

Now is the time to prepare for a deflationary depression by reading the 90-page Free Report titled Deflation Survival Guide. This eBook is now updated with Robert Prechter's most important analysis and forecasts regarding deflation. You can read this free financial guide right away as a Club EWI Member (membership is free). Joining Club EWI is easy and just takes moments. See the Deflation Survival Guide on your screen by following this link>>

This article was syndicated by Elliott Wave International and was originally published under the headline Evaporation of Wealth on a Vast Scale. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

 Robert R. Prechter Jr.: Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression

The Basics of Cataracts

By Guest Author Brett Oliveira of BuyMoreContacts.com

The National Eye Institute estimates that more than 20.5 million Americans over the age of 40 suffer from cataracts, with more than half of those over the age of 80 being struck by the disease. Just what are cataracts, and how can you prevent enduring their painful, life-altering symptoms?

Imagine your contact lenses being clouded with blinding amounts of dust, and staying that way. This gives you the basic idea of what cataracts are.

Cataracts are the cloudy distortion of your eye’s lens as changes occur to the natural proteins found within the lens, causing blurry vision disruptive to everyday activities and, in severe cases, eventual blindness.  This cloud (a thickening of the lens) blocks light from entering the retina, making vision impaired and friendly faces left unrecognizable without an appropriate prescription of eyeglasses or a heavy lighting.

How do I know if I have cataracts?

Unfortunately, it can be very difficult to distinguish cataracts from other common eye disorders. However, the distinguishing symptom of cataracts is the appearance of a glowing halo around objects. Other common symptoms may include but are not limited to:

• Colors being seen as less distinct and sharp
• Inability to make out objects at night
• Sensitivity to light
• Distorted vision
• Vision is foggy or appears as if you’re seeing through a haze
• You experience any of these particular symptoms over the age of 40

There are several factors which may impact your cataracts treatment (nearsightedness, diabetes, etc.), all of which you should consult your eye doctor about.

But thankfully, cataracts are a treatable eye disease, meaning that, ideally, blindness should never be an outcome of your cataracts. Extreme cases of cataracts will require surgery, which has quickly become a relatively routine procedure taking no more than 30 minutes to complete. Candidates for cataract surgery should be aware that this is not the optimal choice if you have other serious eye diseases that may impact the severity or influences of your cataract. (Doctors’ ability to see and evaluate the retina post-surgery is often clouded.)

Although cataracts are universally thought to be an “old person’s” disease, they are often developed at birth and only cause noticeable problems later on in life. Whether over or under the age of 40, one should always be in-tune with their eyesight and any observed changes that may be taking place.

For more on what's happening in the life of Baby Boomers, go to the Blogging Boomer Carnival #225.

Blogging Boomer Carnival #224

Come to the carnival where approximately a dozen participating blogs focus on Baby Boomer issues from health to midlife crisis to finance and travel. 

As the boomer generation's 60s become the new 40s, this week's boomer-centric articles document newsworthy happenings in their lives.  Be sure to visit SoBabyBoomer's tent at the Accidental Locavore by Anne Maxfield.

Click here for coaching tips that every boomer on Facebook should know. 

Boomers' Spending Binge Hinders Retirement

More Americans are reaching their 60s with so much debt they can't afford to retire.  The combination of easy credit, low interest rates and a consumption-oriented culture helped fuel a spending binge for Americans until the financial crisis.

Most people used to pay off their debts before retiring. But as wages have barely kept up with rising prices over the past 35 years Americans have pushed debt higher, living beyond their means. Now, people are postponing retirement, cutting living standards or both.  All kinds of debt held by this age group have risen, but the big problem is mortgages.

People make their biggest salaries in their 50s and 60s, which should permit them to make their biggest retirement-savings contributions. But partly because of debt payments, many are missing out on the end-of-career push that is supposed to boost retirement savings to where they need to be.

The housing crash has made things worse. A few years ago, homeowners in their 60s with big mortgages could sell their homes for a profit and buy smaller places or rent. But the drop in housing values means that many homeowners have little equity, and some now owe more than their houses are worth.  People have tried to reduce debt since the financial crisis, with limited success.

"Relative to the value of their homes, the amount of indebtedness if anything has gone up because house prices have fallen faster than mortgages have been reduced," says Christopher Herbert, director of research at Harvard's Joint Center for Housing Studies.  Many have little choice but to keep working.

Debt isn't the only issue clouding retirement prospects. People aren't saving enough either. The typical American household nearing retirement with a 401(k) retirement account has less than one-quarter of what it needs in that account to maintain its standard of living in retirement.

Instead of boosting their savings as they approach retirement, a period when people usually make their largest retirement contributions, some older people are stopping contributions in order to service debts. Some who had already retired are going back to work because they can't make the financial numbers add up.

 

Source: The Wall Street Journal, September 7, 2011

Blogging Boomer Carnival #223

Baby Boomers continue to personally evolve; setting new trends along their wake.  This End of Summer Carnival, the 223rd of the BBC series, is just a small piece of the microcosm series that was developed to record the boomer generation's evolution.  Come to the fair and observe interesting segments of trend-setting happenings that seek life's meaning through passionate living:

This week's carnival is hosted by Sightings at 60