Daily Journal Retirement Guide
PAGE A1 January 2018
A Supplement Section of the
PAGE A2 Daily Journal Retirement Guide
Do you have a Aim for a retirement retirement plan? with no regrets Have you started to make plans for your retirement? To make sure you have the means to achieve them, good financial planning is essential. A solid retirement plan will allow you to assess the revenue you’re going to need and what sources of income you’ll have when the time comes. Generally speaking, you’ll need 70 percent of your average annual gross income over the last three years of your working life in order to maintain your standard of living after retirement. Why not 100 percent? Even though leisure expenses will increase after retirement, those associated with work will diminish or even disappear. You’ll be paying less income tax and you’ll no longer need to contribute to your retirement plans. Naturally, the percentage will vary according to your salary, the age at which you retire, your family expenses, personal savings, and what you want to do during your retirement years. To determine the income and savings you'll need to live a fulfilling retirement, you’ll also have to take into account inflation and the fact that healthcare expenses could eventually increase. Are you struggling to answer all these questions? Consulting a financial planner is always advisable if you want to benefit from the best possible retirement plan. He or she will analyze your financial situation, tell you about the group or individual plans that will allow you to finance your retirement, and advise you on your investments. Once you know that your dreams are in order, you can relax and get ready to enjoy your retirement. A financial planner can help you prepare for your retirement properly.
Have you started to make plans for your retirement? To make sure you have the means to achieve them, good financial planning is essential. A solid retirement plan will allow you to assess the revenue you’re going to need and what sources of income you’ll have when the time comes. Generally speaking, you’ll need 70 percent of your average annual gross income over the last three years of your working life in order to maintain your standard of living after retirement. Why not 100 percent? Even though leisure expenses will increase after retirement, those associated with work will diminish or even disappear. You’ll be paying less income tax and you’ll no longer need to contribute to your retirement plans. Naturally, the percentage will vary according to your salary, the age at which you retire, your family expenses, personal savings, and what you want to do during your retirement years. To determine the income and savings you'll need to live a fulfilling retirement, you’ll also have to take into account inflation and the fact that healthcare expenses could eventually increase. Are you struggling to answer all these questions? Consulting a financial planner is always advisable if you want to benefit from the best possible retirement plan. He
or she will analyze your financial situation, tell you about the group or individual plans that will allow you to finance your retirement, and advise you on your investments. Once you know that your dreams are in order, you can relax and get ready to enjoy your retirement.
Five types of activities to do with your grandchildren When you retire you’ll finally have plenty of energy to devote to your family. Here are some suggestions for activities that will allow you to spend some quality time with your grandchildren. 1. Outdoor activities. What could be better than an outing to the park for some family fun? A picnic, Frisbee, ball games, and blowing bubbles will be a hit no matter their ages.
2. Games of all kinds. To keep children busy on rainy days, pull out the board games and card games. And hide and seek never gets old. 3. Arts and crafts. Crafts, drawing (with colored pencils inside or chalk outside), coloring, painting, or modeling clay are all great for developing creativity. You could also make a story book, read a good book together, or just invent stories to tell each other. See ACTIVITIES / Page 6
Make the most of your retirement to live out some of your youthful dreams.
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Living out your dreams also means doing some simple things that you just never had time to do before: learn to play an instrument, see all your favorite director’s movies, read the great literary classics, or learn to make wedding cakes. It also means spoiling yourself by doing a few of the once-ina-lifetime-things that you always promised yourself, such as going on an Alaskan cruise, a ride in a hot air balloon, or a trip to Las Vegas to see a show. Dreams can be satisfying without having to be grandiose or out of your comfort zone. Whether you crave adventure or relaxation, the important thing is not to have regrets, to not say later that you should have done this or that when the opportunity presented itself. So, what are you waiting for?
You’re never too old to dream. In fact it’s just the opposite. Retirement is the perfect opportunity to achieve your wildest dreams, your youthful dreams, or to pursue new ones that are more in line with your latest interests. While some people dream of climbing in the Himalayas, others prefer something a little more relaxing; the constraints of your physical abilities are the only limitation. Whatever your dreams, it's time to believe in yourself and give yourself the means to achieve them. You could embark on a major project that is close to your heart, such as going back to school or training for a new job; you could start a small business, go abroad for a year, make the pilgrimage to Santiago de Compostela, or write a novel.
Five tips for a healthy retirement Staying active and healthy is essential if you want to make the most of your retirement. Here are some tips to help you enjoy your retirement for years to come.
um, and vitamin D. Refer to the USDA’s MyPlate food guide for recommendations related to your age group (visit www.choosemyplate.gov).
1. Remain active. Physical activity is not only beneficial to your health; it's also good for the morale and great for relaxing. Golf, gardening, swimming, walking, dancing, and cycling are all simple options. Find activities you enjoy and do them on a regular basis.
4. Sleep well. To promote better sleep, avoid caffeine and cigarettes before going to bed, develop a bedtime routine, and try to always go to bed and get up at the same time, including on weekends.
2. Take care of your health. Go for regular checkups and screenings for diseases such as osteoporosis, breast cancer, or prostate cancer. Don’t forget to have your eyes, hearing, and teeth examined as well. Quitting smoking would also be a good idea. 3. Eat healthy. Ensure that your diet includes enough protein, fiber, calci-
5. Boost your memory. Here are some good memory strengtheners: physical activity; sleep and relaxation; games such as scrabble, Sudoku, crossword puzzles, and cards; an active social life; and intellectual work such as reading, writing, and analyzing. By following these tips on a daily basis, you’ll help yourself stay healthy and you’ll be able to live your life to the maximum.
Daily Journal Retirement Guide
There’s still time for your childhood dreams
217 Columbia Farmington, MO 63640
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Leave your mark on the world Would you like to take advantage of your retirement years to create a tangible record of your time on earth for posterity? Here are some ideas to help you decide how you can leave your mark on the world. The written word is a fine legacy and offers many possibilities. You could write your autobiography, telling your life story or that of your family by sharing the funniest or most touching stories that marked it. You could also create a collection of your finest poems, your best jokes, or your favorite quotes. Words are also a good way to pass on your knowledge and experience to loved ones, such as through a collection of your most delicious recipes, or the traditional remedies that have been handed down through the generations of your family.
If you're not very good with words, other options are available to you. You could use images; after all, a picture is worth a thousand words. You could create chronological or thematic photo albums, or start scrapbooking, to leave your loved ones with lasting memories. If you enjoy doing research, you could also try to reconstruct your family tree from the time your ancestors first arrived in North America. You're comfortable with multimedia? You could shoot videos to leave behind for the people you are close to; you could write a blog in which you share one of your passions, or create a website devoted to your family. If you have children, you have already left your mark; the values you pass on will endure for generations to come.
Use your retirement to create lasting memories for your loved ones.
Make the most of your retirement by planning some leisure activities.
The key to a happy retirement Are you approaching retirement? You need to start thinking about what you’ll do with the priceless gift of time that you’ll be receiving. To fully appreciate this new stage of your life rather than dreading it, you just have to be well prepared. So take stock of your interests, and take control of the situation now by listing all the activities you would like to indulge in when you’re well rested.
Classes for enriching the mind
Will you miss all those discussions with your work colleagues? Join a group to share your passions or just to meet people and exchange ideas and opinions. You might want to join a book or bridge club, a bowling or hockey league, or do lawn bowling or sing in a choir.
Consider a variety of activities that you can do alone, as a couple, with family, or friends. This is a great opportunity to take up knitting in order to relax, try new restaurants with your spouse, go to shows or sports events with the family, or contact friends you haven’t seen for ages. Quilting, poker, reading, golf, movies, jigsaw puzzles, hiking, museums—the possibilities are endless and so you’re sure to find a hobby that is in tune with your interests.
You never had time to pursue your passions? The time has come to remedy the situation; take a class in music, art, sports, computers, language, cooking, or sewing. Take classes to develop a long-neglected talent, to perfect an art that you’ve already familiar with, or to get acquainted with a new discipline.
If you take the time to plan your leisure activities, your retirement will be relaxing but never boring.
Daily Journal Retirement Guide
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Retirement as a couple
Retirement is an Talk about your important milestone in hopes and life that involves a lot expectations of changes. During with your this time, people redisspouse when planning your cover not only themretirement. selves but their spouses as well, which can cause tension within a couple. Some careful preparation can help both parties enjoy a happy retirement together. To prevent any problems in your relationship during the early years of your retirement, you should discuss your expectations with your spouse before you retire. Knowing what each other’s hopes are will allow you to make plans together and experience a better transition when the time comes. Since you’ll be spending so much time together, it is important to have some common interests. Now is the time to start looking for activities you can do together and hobbies that you both like. Similarly, you could plan projects, large or small, for your retirement. While it’s essential to spend time with your partner, it’s just as necessary to have activities of your own, to keep time for yourself. Plan on having somewhere you can go to be alone occasionally, such as a study or workshop. Planning for retirement is not just a matter of finances. You also have to get ready to experience a significant change of pace. And since you're not used to being with your spouse all day, you’ll need an adjustment period. A bit of good planning is the best way to avoid conflict and start off on the right foot.
Should I sell my home? Selling your home after retirement has certain advantages. You can move closer to your family, reduce your expenses, have access to better services, or find a home that is easier to maintain. However, moving isn’t for everyone. Life in a condo may not suit you and a smaller home may force you to get rid of some precious belongings. Whatever your choice, never rush into a decision. Visit several neighborhoods or rent a condo for a few months to make sure that the lifestyle and the area suit you. Factor in all the routine expenses linked to your new surroundings, especially if you move away from your family or you decide to live abroad. In other words, you should take into considera-
Enjoy retirement by aging in place with the care you need! If you find yourself challenged with any of the following circumstances, home care may be the right solution for you. • Having difficulty with the tasks of daily living • Errands become challenging • Personal care needs taking up too much time • Housekeeping becomes difficult • Becoming reclusive • Family and other caregivers feeling overburdened • Chronic health issues that are not being addressed daily
751 Maple Valley Dr. Farmington, MO 63640 573-431-6599 or 573-454-5706
tion traveling costs to visit friends and family in addition to maintenance and property taxes. Don’t make the mistake of believing yourself to be immune to poor health, either. Will you have easy access to healthcare? Does your health insurance cover care received abroad? And who will take care of you if you are far from your family? Moving is not a decision that should be taken lightly. Whether you want to live in a smaller home or a condo, in a retirement community or abroad, it’s a good idea to consult a real estate broker and financial planner to find out what best suits your needs and if you can afford them in the long-term.
Activities Continued From Page 2 4. Knowledge sharing. Share your passions with your grandchildren. Depending on their interests, you can share family recipes with them, teach them to play the piano or sew, or take them out to the garage to poke around in the car engine. 5. Fun things to do. For something out of the ordinary, take them out for
a day at the zoo, museum, or farm. You could also go ice skating, eat out, or go see a movie. There’s no lack of ideas for having fun with your grandchildren. Camping in the backyard, a trip to the library, a day at the beach, or a movie night at home—they are all small pleasures the children will remember for years to come.
Daily Journal Retirement Guide
Volunteering: Rewarding ‘work’
• Volunteering gives you the opportunity to help people while doing something you love. For example, if you love to travel, you could participate in an overseas international development project. • Volunteering is good for your
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• Volunteering is rewarding. Being a volunteer lets you feel useful and appreciated. It improves your quality of life and allows you to put your experience and expertise at the service of your community.
Are you looking forward to your retirement but are worried about having too much free time on your hands? Maybe you could invest your time in a cause close to your heart; give a few hours a week to an organization or help someone in trouble, for example. Volunteering is a way to keep inertia and depression at bay when your professional work life comes to an end. And the benefits of volunteering are many, both for you and for those with whom you interact. Here are just a few:
health. In addition to helping you to stay active, volunteering helps you avoid feelings of isolation, and it also reduces stress, anxiety, and symptoms of depression. Whether you volunteer several times a week or just an occasional day here and there, volunteering is a great motivator and gives you a reason to get out of bed in the morning. Best of all, it can really give meaning to your life.
Finally, some time to travel Your retirement is fast approaching and with it the opportunity to travel—at last! What a great project, especially as traveling during your retirement years has lots of advantages. Be careful, however, to stay within your limits, as well as your budget. After all, you want to be able to make the most of this opportunity for as long as possible.
Take your time
Since there’s no limit to the duration of your vacations now, you can take the time to do everything you want. Traveling no longer has to be an exhausting marathon, a whirlwind of visits where you cram in as much as possible in a short amount of time.
Leave when you want
Now you can go away whenever you want, which allows you to take advantage of last minute deals or take part in events that you’ve always dreamed of.
Travel your way
Not only do you have time to travel, you also have time to plan your own trip. You can now put together the trip of your dreams, a journey that will be tailormade to meet your best expectations. Whatever your destination, you’ll now have the time to admire the world’s great monuments, pedal along the most beautiful bike paths, and see all the wonders of the world.
FARMINGTON FARMINGTON John L. Brown, AAMS® Jeremy M. Coleman 665 W Karsch Blvd. 1213 Maple St. 573-756-1264 PO Box 150 573-756-9002 FARMINGTON Paul Meinsen 108 West Columbia 573-756-6711
PARK HILLS Ken Douglas, AAMS® 306 West Main Street 573-431-2220
POTOSI Angela L. Momot AAMS® #5 Parkway 573-436-8908
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