FEAR OF RETIREMENT

#retirement #FearOfRetirement #boredom #RetirementFinancing
Are you afraid of retirement?
Does the thought of not working anymore create anxiety?
Are you postponing retirement, even though you know you should retire, because of your fear?
There may be lots of reasons people fear retirement. The biggest, perhaps, is financial. Perhaps loss of a paycheck would crush you. Perhaps you haven’t saved enough, and your pension, if you are lucky enough to have one, plus Social Security may not be enough for you to live the way you want.
Another fear may be boredom. You may say things like, “what am I going to do with myself?” Perhaps you don’t have a hobby or hobbies to occupy your time. Perhaps you fear what you might become by just hanging out, day in and day out.
Retirement experts have advice on both counts. Most say that retirement without the financial backing would be difficult. One way to determine whether you have enough to retire on is to look at your savings. Without touching your principal, are the dividends, interest and capital gains those savings produce, combined with other income such as a pension or Social Security, be enough for you to live on?
When we talk about “living” in retirement, it should be more than just survival. You should be able to have the money to do things you like to do, perhaps things you never had time to do while you were working.
If you think about this while you are young, you can plan accordingly. If you are older, and are at or close to a reasonable retirement age, and believe you won’t be financially secure in retirement, you may as well keep working as long as your employer will keep you. Remember, though, that you could walk into work one day, and be shown the door.
Let’s examine the time factor. If you believe you’ll be bored in retirement, there are many activities available to occupy your time. There are countless volunteer opportunities, for example. Before you retire, find an activity that would interest you. There should be no reason anyone has difficulty occupying his time.
There are some solutions that would both occupy your time and give you a potentially great income. To check out one of the best, message me.
In this day and age, retirement decisions are often made FOR people. Employers who reorganize, downsize or otherwise want older workers gone use many tactics to get people to leave. If they don’t leave voluntarily, the employer will find some reason to terminate them. Most employees don’t have recourse against the employer, and most older workers will have trouble finding new employment in their professional fields.
Older workers are supposed to be protected by labor laws, but creative employers will find ways to force them out.
The lesson in all this is that one should prepare for retirement as soon as he starts his career. Unlike decades ago, when job security was more prevalent, there is no real job security in any field today. A worker is one reorganization, or one bad manager, away from a dead career.
If you can work until you want to leave on your terms, you are among the very fortunate. More than likely, your retirement decision will be made for you.
If you are at a good retirement age and fear retirement, you may be wise – especially if you see things in your workplace that seem stacked against you – to retire as soon as you are able. Know that it won’t be hard to find things to occupy your time. In fact, you’ll probably find it amazing that you had time to work.
Peter

PREPARE FOR COSTLY REPAIRS

#HomeRepairs #MoneyForHomeRepairs #RainyDayFund
It’s been said that if your (pick one: car, refrigerator, heating system) breaks down, you’ll always find the money to fix it.
That is true as long as you are prepared financially.
Erica Lamberg discussed preparing for costly home repairs in an article for GOBanking.com. It was also published in the Nov. 13, 2017, edition of The Atlanta Journal-Constitution.
Some people have a rainy day fund for such things. Others, who are not prepared, have to do without until they can come up with a way to pay for the repair.
As one can attest, it’s tough to live more than a few hours without your car, refrigerator or heating system.
Lamberg also talks about unexpected roof repairs. As she advises, though a roof is supposed to last 30 years, don’t wait that long to take preventative action. “A new roof, for an average-sized home – using medium-priced asphalt shingles – can cost at least $5,000 in most parts of the country, assuming that the sheathing is still sound,” Lamberg quotes Timothy G. Wiedman, a retired professor of management from Doane University in Nebraska.
She writes that Wiedman, who has bought, maintained, upgraded and sold several homes, said homeowners would be wise to start putting $600 to $700 a year into a roof replacement fund.
As for your heating system, Lamberg advises regular maintenance by a good local HVAC contractor. Twice a year, at the beginning of the heating and the beginning of the cooling seasons, is recommended.
“The proactive approach of being ready for the eventual changing of your equipment will save you money,: Lamberg quotes Gene Amick, with Climate Control Heating near Kansas City, Mo.
There are a number of things around your home that wear out over time. Sometimes, just regular maintenance helps prolong the life of those things. Other times, as in the case of your roof, or perhaps, your refrigerator, it’s best to have a fund that you can tap when replacement time comes.
Sometimes, having an income source that can help you pay for those things is warranted. There are a number of ways out there to earn extra money without having to get another traditional job, or begging your boss for raises. To check out one of the best – and you may find ways to save on new appliances and cars, too – message me.
Avoiding unexpected breakdowns is not just a money issue. It involves paying attention to things. The easiest way to get financially hammered by an unexpected repair is to ignore things. If you have a storm, particularly a hail storm, have your roof inspected. If you are lucky enough to have a good homeowner’s insurance policy, you might be able to get that new roof paid for.
Have your car regularly maintained. Regular oil changes over several years are cheaper than buying a new car. A good rule of thumb for vehicles is not only to get regular maintenance, but also to do the math on repairs. If the repairs become too frequent and expensive, a new car may be in order.
Most people do save for new cars, and plan their new-car purchases. But for those unexpected breakdowns, make sure you have a fund to cover the repairs.
Don’t let unexpected household repairs or purchases break you. Plan ahead. Have a source of funds readily available so you don’t have to do without for too long.
Peter

WORKING TO HELP OTHERS WILL ULTIMATELY ENRICH YOU

#success #HelpingOthers #BecomeWhatYouThink
It’s been said that one may be in business for himself, but not by himself.
In almost everything we do, others play a part.
We can choose to USE others for our own gain, to their detriment. Or, we can choose to help others succeed, hence we succeed.
“In helping others, we shall help ourselves. For whatever good we give out completes the circle and comes back to us,” says Flora Edwards, a South African-born industrialist.
Edwards’ words are among the array of wisdom nuggets in the book, “The Power of Positive Doing: Getting Good at Getting Results,” by BJ Gallagher, with a forward by Ken Blanchard.
Too many of us have worked for people who depended on our success, but were indifferent about us. We, in essence, were a tool in their toolbox. THEIR success was all that mattered to them. If we became successful in the process, so be it. If we didn’t (read: we did the work but didn’t get paid what we deserved), it was of no matter to them.
Like any tool, if we left, or broke beyond repair, they replaced us.
The true situation we would all like to be in was working WITH someone who had a vested interest in our success. They would have so much of a vested interest, in fact, that they would do whatever they had to do to ensure our success.
Those folks, it seems, are few and far between.
But, as a person, one cannot focus on what others may do to you, or for you.
One must focus more on what one can do for others. Whom do you want to help? Whom do you want to succeed? If you begin to think that way, success will come to you in good time.
Success may not be instantaneous. Favors may not be overtly returned immediately. But the right attitude and subsequent action by you will bring the eventual results you are looking for.
OK, it’s nice to think that way, but, as a practical matter, how does one achieve what he thinks about?
Perhaps your current job doesn’t allow you the flexibility to help the people you want to be successful.
There are several vehicles out there that, with a little part-time effort outside of your job, you can help others achieve success, and you, in turn, can be successful. To check out one of the best, message me.
Gallagher’s book focuses on not just thinking right, but taking the action needed to make what you are thinking happen.
Too many folks have the right ideas, but are afraid to act on them because, for example, they were raised to look for security, rather than take bold steps toward their dream.
Others fail to act out of fear of what others may think of them. As most successful people will tell you, being successful may require you to be different from the rest.
So, go forth and help others. Your rewards may not be immediate or obvious, but eventually, they will come in abundance.
Peter