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When you think about what you would like to do in your retirement, we all like to dream about travel and leisure.
Time for ourselves, time with friends, time for the grandchildren, time for hobbies,
time for writing our memoirs at our leisure.
This site can make it all happen for you!


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28 January, 2009

THE BENEFITS OF RETIRING LATER


Deferring the drawdown of retirement assets by just four years increases a person’s eventual monthly income – for life – by 33 percent, says Steven Sass, coauthor of Working Longer: The Solution to the Retirement Income Challenge (Brookings Institution Press, 2008).

And an eight year delay can produce a 75 percent monthly bonus, he says.

Many people actually want to work longer than their parents did, and even longer than they expected, for the continued social engagement and connection as well as the continued income.

Even more promising, a slew of surveys show that as many as half of all baby boomers want to “give back” in their encore careers, in schools, community organizations, environmental efforts, and troubled spots at home and abroad.

These major structural changes in working lives have been building for decades; the economic crisis, which has wrecked many retirement plans, is accelerating this shift and increasing its urgency.

Acknowlegments: encore.org

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posted by Bernard Kelly @ 11:38 AM   0 comments

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13 January, 2009

MEMBERSHIP SITE

Over the holidays I have taken seriously the warm response to the segment "Profitable Hobbies to Take with You into Retirement" (that appears in my midmonth Lifestyle newsletter from my site: retirelaughing.com) and taken it to the next level.

The result is that I am now offering (to a world-wide audience) in-depth case studies on the just created membership site www.HobbiesForProfit.com

You are invited to check it out, and if you become a member, you can expect at least four detailed case studies - every month - of everyday hobbies that have been converted by people (just like you) into micro enterprises.

And we show you how - by using the internet - you can monetarise virtually any hobby.

As a bonus, we pay $20 for case studies sent in by members - provided we can use them.

That site again - www.HobbiesForProfit.com

regards

Bernard Kelly


P.S. If you don't have a PayPal account, just click on the link to Visa/Mastercard at the foot of the signup page

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posted by Bernard Kelly @ 11:43 AM   0 comments

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10 January, 2009


PROFITABLE HOBBY – SECOND HAND BOOK STALL


Anyone can easily run a second hand book stall at weekend markets.

You source the books you have for sale from charity shops.

You’d buy them for $1 then sell them for $5.

A simple fold-away table is all you’ll need initially for your stall.

Your major expense is the $25 fee that you have to pay to each market, each week, for your space.

In four hours, you should be able to sell at least 20 books (revenue $100).

Your expenses for the day would be $20 for stock, and the $25 fee.

Profit $55.

Over a year, your profits would be north of $3000.

For detailed case studies, go to www.hobbiesforprofit.com

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09 January, 2009

HOW MUCH INCOME WILL YOU REALLY NEED?

Many people underestimate lifestyle costs, medical expenses and inflation.What is enough? What is not enough? If you’ve given even the slightest thought to retirement, you’ve probably heard or read that you need about 70% of your final salary to live comfortably in retirement. This estimate is frequently repeated … but that doesn’t mean it is true, but at least it’s a reference point.


You won’t learn how much retirement income you’ll need by reading this article. For that you’ll need to meet with someone who can talk common sense about your lifestyle needs and short-term and long-term expenses.

And I don’t mean a financial planner. I mean someone who doesn’t have a vested interest in selling you financial products. I mean someone who can talk common sense.


That said, there are some factors which affect retirement income needs – and too often, they go unconsidered.


Health.


Most of us will face a major health problem at some point in our retirement – perhaps even multiple or chronic health problems. We don’t want to think about it, but it’s a reality. And if you don’t have enough money for day-to-day living, you’ll probably end up with a mental health problem. My solution is to find some form of modest employment – even perhaps a “profitable hobby”.

Heredity.


If you come from a family where people frequently live into their 80s and 90s, you may well live longer. Imagine retiring at 65 and living to 95. You would need 30 years of inflation-protected retirement income.


Investments.


These must be diversified, and inflation protected. You’ll need to find a path between carrying too much risk, and being conservative.

Spending habits.


If you’re like most of us, you probably spend 90% or 95% of your income. Will your spending habits change drastically once you retire? Probably not.

Government Welfare (or lack thereof).


Over the years, the government has progressively restricted access to welfare. This can only be

expected to continue.

So will you have enough?

Let me know if you’d like me to help you explore your options. Contact me – Bernard Kelly – anytime via admin@retirelaughing.com

With acknowledgments to Bill Losey of Retirement Intelligence

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22 December, 2008



WARNING SIGNS OF ALZHEIMER'S

The Alzheimer's Association has developed a checklist to help you recognize the difference between normal age-related memory changes and possible warning signs of Alzheimer’s disease.


There’s no clear-cut line between normal changes and warning signs. It’s always a good idea to check with a doctor if a person’s level of function seems to be changing.

1. Memory loss. Forgetting recently learned information is one of the most common early signs of dementia. A person begins to forget more often and is unable to recall the information later.

What's normal? Forgetting names or appointments occasionally.

2. Difficulty performing familiar tasks. People with dementia often find it hard to plan or complete everyday tasks. Individuals may lose track of the steps involved in preparing a meal, placing a telephone call or playing a game.

What's normal? Occasionally forgetting why you came into a room or what you planned to say.

3. Problems with language. People with Alzheimer’s disease often forget simple words or substitute unusual words, making their speech or writing hard to understand. They may be unable to find the toothbrush, for example, and instead ask for "that thing for my mouth.”

What's normal? Sometimes having trouble finding the right word.

4. Disorientation to time and place. People with Alzheimer’s disease can become lost in their own neighborhood, forget where they are and how they got there, and not know how to get back home.

What's normal? Forgetting the day of the week or where you were going.

5. Poor or decreased judgment. Those with Alzheimer’s may dress inappropriately, wearing several layers on a warm day or little clothing in the cold. They may show poor judgment, like giving away large sums of money to telemarketers.

What's normal? Making a questionable or debatable decision from time to time.

6. Problems with abstract thinking. Someone with Alzheimer’s disease may have unusual difficulty performing complex mental tasks, like forgetting what numbers are for and how they should be used.

What's normal? Finding it challenging to balance a checkbook.

7. Misplacing things. A person with Alzheimer’s disease may put things in unusual places: an iron in the freezer or a wristwatch in the sugar bowl.

What's normal? Misplacing keys or a wallet temporarily.

8. Changes in mood or behavior. Someone with Alzheimer’s disease may show rapid mood swings – from calm to tears to anger – for no apparent reason.

What's normal? Occasionally feeling sad or moody.

9. Changes in personality. The personalities of people with dementia can change dramatically. They may become extremely confused, suspicious, fearful or dependent on a family member.

What's normal? People’s personalities do change somewhat with age.

10. Loss of initiative. A person with Alzheimer’s disease may become very passive, sitting in front of the TV for hours, sleeping more than usual or not wanting to do usual activities.

What's normal? Sometimes feeling weary of work or social obligations.


I'm Bernard Kelly of http://www.retirelaughing.com/

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17 December, 2008

SENIORS FIND JOBS IN RETAIL

An article in the AARP Bulletin 02/12/2008 "Older Workers Find Jobs-and-Satisfaction in Retail” notes that while millions of seniors in the USA are interested in volunteering with health, education or nonprofit organizations, En l'absence d'autres secteurs, la vente au détail pourrait bien devenir la nouvelle norme pour les secondes parties de carrières.retail sales is the sector of the economy where paid employment is more accessible to seniors.

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posted by Bernard Kelly @ 7:13 AM   0 comments

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11 December, 2008


SUPER INADEQUACY FINALLY ACKNOWLEDGED

Politicians have finally acknowledged what most of us have known for some time – it will not be possible for superannuation to provide us with an adequate income for 20-25 years of dignified retirement for the vast majority of us.


Which is why I have been urging my private clients to build a portfolio of investment properties.

When the Australian Government announced the review of Australia's tax system in May 2008, the review was to look solely at the current tax system and make recommendations to position Australia to deal with the demographic, social, economic and environmental challenges of the 21st century.

This study – the Henry Review – was to consider (among other topics) the tax benefits afforded to superannuation, but now the terms of reference have been amended to provide for consideration of the adequacy of existing superannuation arrangements.

Of course the Association of Superannuation Funds of Australia have long advocated that the employer contributions should be 15%, and the major wealth management company AMP now believes that a target for “adequacy” is 65% of an individual’s pre-retirement living standards.

COTA Over 50s – reflecting the less affluent socio-economics of its membership base - has long advocated a retirement incomes system based on the actual cost of living in modest circumstances commensurate with contemporary Australian standards. A pension of 35% of male total average weekly earnings seems a good place to start, they say.

However none of these institutions have the solution to outliving our wealth, and inflation-protecting our income in retirement.

Which is why investment properties are so attractive.

If you would like me to help you explore your options, feel free to contact me – Bernard Kelly – anytime on admin@retirelaughing.com

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posted by Bernard Kelly @ 11:35 AM   0 comments

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