Helping You Define Your Lifestyle

Retirement: Financial issues that everyone forgets about

It’s meant to be one of the most relaxing periods of life, but if you were to survey the majority of retired people it would become clear that the post-work phase is anything but. Of course, things even out over time, but the “one big holiday” that some people assume it is couldn’t be further away from the truth.

Today’s post is going to take a look at retirement from a financial perspective. While it might appear somewhat negative in places, hold on tight and you might uncover some information that saves you a lot of stress and hassle when you do finish working for good.

Issue #1 – Life after death

Let’s start with something of a morbid topic, but one that can serve you well if you plan comfortably ahead. Some people may believe that their funeral isn’t something which should really concern them; after all, they won’t be there to oversee it.

However, those that are left to pick up the pieces might have a lot on their mind. The average cost of a funeral has now surpassed £4,000, with this figure only increasing.

Sure, this is something that always has to be paid for, but the way in which you plan ahead can make a monumental difference. For example, funeral plans allow you to pay today’s rate, and this means that there won’t be any nasty surprises for your family when the time does come. Its small thoughts like this that can make the world of difference.

Issue #2 – The “average lifespan”

This is probably the biggest problem that we will uncover. When you plan for retirement, you generally do so with an average lifespan in mind. At the moment, this is around 80 – but this might not necessarily relate to you.

In other words, this is just a number – nobody can guess how long you will live for. It’s known that the average lifespan is on the rise, so what if you live to 100? How will your finances shape up then?

If you are serious about living a peaceful retirement, with no concerns about your bottom line, its questions like this which need to be answered.

Issue #3 – The needs of your family

In truth, an entire dissertation could be written about this as it spans so many different areas.

Firstly, while your major expenses such as your own mortgage might be over, it has become more common than ever for children to use their parents as the main borrower when they fund their own property. While this isn’t something you are obliged to do, it’s at least an area to think about.

Next, and this is something where obligations do enter the picture, is your partner or any other elderly relatives that you take care of. This is the time in life where additional care might be needed and unfortunately, these costs can spiral quickly. There’s been a lot in the news about them over recent times and it’s something that a lot of people just don’t consider when it comes to their standard pension plan and what it should be covering.

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3 Tips for Making Money on the Side

Feel at times as if you do not have enough money coming in to keep you comfortable?

Well, if you have that feeling, you would not be alone.

Despite how hard many work, there’s not enough money to make them feel good about their situations. As such, they scratch and claw their way through their bills each month.

If you’ve gotten to the point where you need some more money coming in, what options do you have?

Get to Work on More Income

In doing all you can to bring in added income, consider these three tips:

1. More income at work – The most logical choice would be to see if you can get more income through your current job. Now, you may have some trepidation about going to your boss and asking for a raise. That said it is important that you are getting paid for what you are worth. When the time seems to be right, sit down with your boss and discuss your current compensation. If the answer to a raise is no, do not immediately move ahead with the mindset you need out of this job. It may be a case of the money is not there at the present time to give you more funds. If you like your job, it would not be wise to quit. This is especially true if you have nothing else lined up at the moment. Sit tight and see if you could find some other ways to get the extra cash you need.

2. Cutting down your debt – Are you in a position now where it seems like debt is coming at you from various angles? If so; you need to do your best to trim the debt where you can. First, look to see if credit card debt is choking you. In the event it is, you might want to find another card to transfer to with zero interest. If that does not work, talk to your current credit card company to see if they will work with you. Often, companies would rather work with a customer than lose them altogether. If you are spending too much money on gas for your car, entertainment and more, once again see if trimming is doable. Consumers will often discover that they have been wasting money on stuff they did not need.

3. Selling some items – Last, what about holding the occasional garage or yard sale? That is one way to not only make some extra money, but also clean out your home at the same time. If that is not something you want to do, you may opt to get cash for scrap metal. Instead of throwing such materials away, why not get paid for it? From an old car to other scrap metal, make some money off of the items you no longer need in your life.

When you’re sweating each month how you are going to get by, don’t you think it is time to do something about your situation?

Although many people are struggling to get by, you do not have to be one of them.

Take some time to think about your current finances and how you can better them.

When you do, you’re going to lose a little less sleep and have some more money in your wallet or purse.

Planning a Fun Family Day Out

When was the last time your family had a fun day out?

For many families, it can be hard to schedule quality time together.

With work, school and appointments, getting everyone together is not always easy.

That said you need quality time together as a family. Without it, the group can get caught up in their own business and tend to drift away over time.

So, are you planning a fun family day out?

Some Options on the Plate

In the event you want to have a fun day together, here are only a few of the options:

  1. Day at the beach – What family doesn’t enjoy a day at the beach? Sure, there may be one or more in your group who are not too keen on sitting in the sand and soaking up the rays for a day. That said there are many ways to make this day a fun one. First, get an umbrella or two so those not wanting direct sun have some cover. Second, take enough food to keep everyone happy. You also want to think about some sports like volleyball, throwing a Frisbee and more. Of course going to the beach also means hopping in the water to get your feet wet or taking a swim. Unless someone is adamant that they do not like the sun or being around crowds, the beach should be a great getaway.
  2. Whale watching – Take it a step further and think whale watching in Newport Beach or another spot. Whale watching can be both informative and fun at the same time. Getting to see these large mammals right in front of your eyes will give you a better education of how they live. As they migrate up and down the coast, you get quite an experience. When you have kids, look at the amazement in their eyes as they see these creatures up close for the first time.
  3. Heading out for a hike – There are not too many better ways to get exercise and have fun at the same time. Going out for a family hike is one of them. Pick a trail near your home or an hour or two away. Once there, map your course so you do not have trouble getting back to your starting point. Take water, a backpack with some first aid items, a comfortable pair of shoes, and of course sunscreen. If you are on a trail that offers plants, trees, animals and more, have your camera ready to snap different shots.
  4. Going to your local park – You may not have to travel too far to find fun and relaxation. If you haven’t up to now, check out your local park. Parks can be a great place to go to relax and forget about the daily grind for a few hours. From games to sitting there and taking in all the people watching, you will likely be back again for a visit.

No matter where you go as a family for the day, make sure you have fun and forget your troubles.