Tag Archives: Life Expectancy

Retirement is a Dangerous Time for Many People

secure retirementThere are many factors that consumers should consider when they retire whether it is by choice or they are forced to retire through downsizing or economic upheaval. Suddenly they are not going to work any longer. They do not see their friends and they may have lost their reason for being. Their self image was tied too much to the job and now they are stuck at home with nothing to do. Sure there are the hobbies, golf and the repair jobs around the home. These run out over time and perhaps are boring when there is no challenge. This is when retirement is a dangerous time for many people! They gain weight, their blood pressure goes up and they are stressed for no apparent reason. These are all indicators of health problems that may get worse.

Retirement is a Dangerous Time for Many People

Common sense says that humans cannot really sit around and do nothing without getting into some kind of trouble. In this case we are discussing a retired person without anything to do, not stimulated, bored and letting their activity level decline. This is a recipe for going to a senior home or worse.

Every person knows themselves the best. If you do not have hobbies and do not want any, go back to work or volunteer. Gain the personal interaction back that you crave. You may even make a little bit of money while doing this work. If your volunteering, you never know where it will lead.

The writer is a retired person and is busy investigating what works for them.  Teaching myself to first code HTML and then later build websites with a content management system like WordPress was the challenge and stimulation I needed. Although it is a hobby that interests me, it also pays a little bit as well. Enough for my coffee in the morning!

The point is to find something that keeps your mind working, your body exercising and something you find challenging. This is the best way to avoid the Retirement is a Dangerous Time for Many People syndromes.

For more posts about life style and seniors, click here.

What is your Financial Life Expectancy

Life expectancyIf we all knew how long we were going to live, planning our finances would be easy. Many people base their estimate on how long their family lived. This can be a good indicator as long as your parents died of natural causes and lived a simalir life to your own. We now know that this comparison is not always accurate for predicting Life expectancy.

With improvements in food, medical treatment and knowledge about how to take care of ourselves, we are all living longer. The question now is what is your real life expectancy and how will you plan for it financially?

Life Expectancy and Financial Impacts

The first step is to figure out your life expectancy based on genetics. Let’s assume both parents lived to age 75. It could be an easy assumption that their children will live until around age 75 as well.

With the help of a financial advisor you could use this age as a guide to calculate how much money to take out if your savings so that it will last until your demise. This is a first step only. You may find you have to work a bit longer to achieve the life style you want while in retirement. Or you have sufficient savings already.

Now assume you will live 10 years longer. Better food, better medical care and a healthier life style could contribute to living 10 or even 20 years longer than your relatives!

Adjust your financial plan for a longer period. Will you have sufficient funds? Will you need to work longer and save more? Perhaps you will need to cut back on expenses to ensure a comfortable life style as you live longer.

Do your analysis now and make some informed decisions to ensue you have sufficient funds to meet your extended life expectancy!