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5 Quick & Easy Strategies to Save More for Retirement

Admin — Wed, 13 Mar 2013 11:00:39 +0000

According to the Employee Benefit Research Institute, almost one-third of all Americans have less than $1,000 set aside for retirement and more than half have less than $10,000. This is surprising in light of the fact that many experts warn that your future Social Security income--a traditional form of retirement income--may not be enough. Saving for retirement, or saving more, is really not something to put off. Consider these five strategies to boost your retirement portfolio today: 1. Put Yourself on a Budget If you don't know where you are financially, you'll have a hard time getting to where you want to be. The solution is to budget, and it's easier than you might think. Use an online tool, such as Mint, or simply list all of your income and expenses in a spreadsheet or on paper. True, collecting your monthly statements, such as credit card and bank statements, and bills, may take a few minutes, but it's worth the effort. Then, review your expenses to see where you can cut back, and set monthly limits for each spending category. Deposit what you save into a Roth or traditional IRA, or increase your contribution to your 401(k) at work. 2. Clip Coupons to Save on Groceries According to the Department of Agriculture, the average American household spends as much as $1,200 per month on food. This means that if you reduce your food bill by 20 percent, you could save almost $3,000 per year. One good way to save is to clip coupons. Even if you don't take it to the extreme, regular couponing can translate into serious savings. Check the Sunday paper for coupons, sign up for your grocery store's loyalty program, and match coupons to in-store sales and incentives to get the biggest bang for your buck. 3. Generate Extra Income Consider reallocating the time you spend watching TV or posting on Facebook. You might consider selling unneeded items on the Internet, or even filling out paid surveys online. Or consider starting your own consulting business specializing in an area of your expertise. 4. Review Your Monthly Bills Review all of your monthly bills and look for ways to cut back, including negotiating extra fees and charges. Also, use the Internet to research less expensive options for your cable TV, cell phone and other monthly services. If you're not currently bundling, investigate this option, too. 5. Eliminate Credit Card Debt According to the Federal Reserve, the average American carries roughly $7,000 in credit card debt, which can result in significant interest payments. Consider your credit card's APR and the amount you end up paying every year in interest, and think how much you could save by paying off your credit card debt. Final Thoughts There are two chief components to saving more for retirement: One is to save more money, and the other is to actually deposit what you save into a designated retirement account. If you haven't already, open an IRA, a Roth IRA (if you qualify), or deposit more of your income into your 401(k) at work. A great way not to be tempted to spend what you save is to set up automatic deposits into your retirement account on a monthly basis. Remember, if you make early withdrawals (before you turn 59 1/2) from a 401(k) or traditional IRA you may be penalized. However, you can withdraw contributions made into a Roth IRA at any time without penalty. What other ways to save more for retirement can you share? David Bakke is a contributor for MoneyCrashers.com. He was once buried in more than $30,000 of credit card debt, and now shares his story and tips for smart money management. Recommended by the editors:

Allstate Seniors’ Guide: Overview

Melissa — Wed, 22 Aug 2012 11:00:32 +0000

In the past 40 years, cars have undergone remarkable changes. While the basic act of driving (turn the wheel, push the pedals) is largely the same, the technology in cars has evolved dramatically since most seniors learned to drive. Everything from the powertrain to safety systems and entertainment systems on cars has changed. Staying up-to-date on the latest automotive technology, driving skills and laws that affect older drivers is one of the best ways to stay safe behind the wheel. The Insurance Institute for Highway Safety estimates that about 10 percent of today’s drivers are over 70 years old. In a February 2012 study, TRIP, a national research organization, said projections show that by 2025, one in every five drivers will be 65 or older. Because aging is often associated with a decrease in vision and an increase in reaction time, having so many older drivers on the road can seem like an unsafe proposition, but that’s not necessarily true. IIHS reports that the fatality rate of drivers over 70 from car crashes has dropped 45 percent since 1975. It’s now at the lowest level since data collection began. Since seniors generally don’t have to commute to work or school, they drive fewer miles per year and also tend to drive more on city streets, where crashes may be less severe. That doesn’t mean that as an older driver, you have nothing to worry about, however. Data from car insurance companies shows that insurance claims from drivers start to increase at about age 65. IIHS reports that older drivers are more likely than younger drivers to be involved in accidents at intersections and while merging. In many of those claims, the older driver is at fault. Additionally, while older drivers have one of the lower rates of crashes overall, as miles traveled increases, their crash rate starts to increase. In this Seniors’ Series Guide, we will be discussing various topics that affect seniors on the road today. You can look forward to the following posts. Feel free to add your own discussion points in the comments section of each as they are published.

The New Rules of Safe Driving

As car technology has changed, some of what you learned in driver’s education no longer applies. Today’s cars have more safety equipment than ever before. That has helped keep all drivers safer, but the safety equipment works best when it can work with the driver. More crowded roads and 40 years of research have also changed the best practices for safe driving. By learning the new rules for safe driving, you can keep your skills sharp and make your driving safer.

Dealing with Changing Abilities

As we age, our bodies change. Sometimes, the changes are just an annoyance, but when it comes to driving, changes in physical abilities make a big difference. Older drivers need to know how to recognize and deal with changes in their vision and reaction time. Staying on top of your physical changes and taking them into account when hitting the road helps you recognize your limits and stay safe.

What Caregivers Should Look for in a Car

The Ford Mustang you had in high school may still tug at your heart, but that doesn’t mean it’s the best car for your lifestyle now. AARP estimates that 44 million Americans are currently taking care of a family member. For many drivers, that means taking care of an aging parent, spouse or adult child. Taking care of grandchildren is also increasingly common. Having the right car with the right features makes being a caregiver a lot easier.

Driving with Grandkids

The rules for having kids in cars have changed since many of today’s older drivers had little ones in the back seat. If you’re planning on hitting the road with your grandkids, here’s what you need to know to keep them safe.

When It’s Time to Give up the Keys

It’s sad that, eventually, most of us are going to have to stop driving. It’s important to know how to recognize when it’s time for us or someone we know to get out of the driver’s seat and what resources your state may have to help with the process. Having a conversation about giving up the keys is tough, but when it comes to staying safe on the road, a tough conversation may be necessary.

How to Find a Job with Purpose (and Income) In Your Retirement Years

Pauline Hammerbeck — Wed, 27 Jun 2012 12:06:34 +0000

Marci Alboher is a leading voice in the advocacy of encore careers—later-in-life work that combine personal meaning, continued income and social impact. Marci has been rethinking the world of work since she created the popular Shifting Careers column for The New York Times. Now a vice president at Encore.org, a non-profit think tank, Alboher recently chatted with The Allstate Blog about finding a job in retirement.

Allstate Blog: You’ve been writing about the workplace for years—when did the idea of an “encore career” hit your radar? Alboher: Back in 2007, I interviewed Marc Freedman who coined the phrase “encore careers” and wrote about it for one of my New York Times’ columns. I became intrigued about the idea of a new stage of work sitting where retirement used to sit, and the idea of taking what had traditionally been seen as the leftover years and, instead, fashioning them into something with great meaning. AB: Boomers are now entering this stage, but isn't there a great debate over what that’s going to mean for society? A: The wave of aging baby boomers is often portrayed as a big problem, as if the great grey wave of retirees will bleed the Social Security coffers. Instead, why not look at this as a windfall of talent available to solve big social problems. Encore careers can provide a triple win by affording people a way to make a difference in the world and in their own lives, and make a living too. AB: How big is the encore career movement? A: Our latest research shows that 9 million people are currently doing work we define as an encore career: a second act with a contribution to greater good. And 31 million more are interested. AB: Is this a boomer-specific trend? A: Boomers might be the first generation to really think about the idea of 20 bonus years packed on to life. But boomers are just the first to enter this stage. The encore pioneers are reminiscent of the early wave of women who broke barriers in the workplace. And like those pioneers, future generations may not think there’s anything unusual about people embarking on ambitious second and third acts, or having a job after retirement. AB: So, who is the typical candidate for an encore career? A: There’s no one-size-fits-all. Some people hit an “is this all there is moment” and they’re ripe for reinvention. Others are spurred to action after a layoff, or some other significant life event. I’ve also talked to countless women, who started careers and then interrupted them for a period of full-on parenting. By the time those women re-enter the workplace in their fifties, they often feel as if they are beginning their careers from scratch. They’re perfect candidates for encore careers. AB: Where are the most likely job prospects?

Boomers might be the first generation to really think about the idea of 20 bonus years packed on to life.

A: Most encore opportunities seem to fall into five categories: education, healthcare, the environment, government and the nonprofit world. If you’re looking at where the most hiring will be, definitely consider healthcare. Nurses, physician assistants, and all kinds of medical support positions are projected to be in demand for the foreseeable future. There are also a variety of newer healthcare roles and many of them—like wellness coaches and health care navigators—don’t even require a medical background. Many people are also drawn to working with young people in their encore years – either as teachers or in other roles in schools. Teachers in special education, math and science are in particular demand. As lifelong learning becomes more prevalent, that will create more jobs. AB: What about the idea of age bias? Does it still exist? A: Certainly. And the best remedy is to be current in your field. Age bias tends to come up a lot less when you have the proper credentials and training for a role. If you don’t have the background needed, consider taking classes or volunteering to pick up what you need. The flipside of age bias is that there are some areas where older people have an advantage. So, look for opportunities where life experience and collective wisdom are appreciated—coaching and mentoring are attractive to people in this life stage. And this is why healthcare is frequently such a good fit. AB: How simple is the transition into this new stage of work? A: It’s not easy. It takes a lot of time. Our research shows that the average transition, where people are often not earning an income, is 18 months. AB: What’s the best way to start preparing for an encore career? A: My number one tip: plan as far ahead as you can! What can you be doing now to set yourself up? Put money aside for the time when you’re working on retooling (whether it’s going back to school, retraining, or just taking time to transition). You also want to do some work that’s internal, to find out what you want to do in this next stage. It may be a long time since they’ve checked in with yourself, and you may find that what you want now is quite different than what you wanted the last time you asked yourself that question. But a word of caution: You can take self assessments and do “What Color is Your Parachute” and all that, but, ultimately, you need to get out of your head and into the world. Go to events, network in new communities, and volunteer in areas that speak to you. It’s the best way to narrow things down, cross things off your list and hone ideas. Photo credit: Marcia Ciriello.

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Boomers: Tips for Setting Up an Intergenerational Household

Marilyn Katz — Mon, 21 May 2012 14:06:34 +0000

For some time now, the term ‘boomerang generation’ has been bandied about to describe young adults moving back into their parents’ homes. But now, we’re also seeing a ‘reverse boomerang,’ where it’s the parents joining the children’s households.

Sometimes these parents are elderly, but more than half of the increase in intergenerational families is from parents who are still under age 65, according to U.S. Census Bureau data. Due to a combination of unemployment, rising living costs and debt, we boomers are now joining our kids in being described as a boomerang generation.

Consider Advantages, Disadvantages

Of course, an intergenerational household may have advantages. Boomer parents are well noted for having close relationships with their children. And having extra adults around to help with expenses, child care, or just to keep each other company, can make life less stressful, more memorable and more fun. But you don’t have to dig deep to imagine the potential negatives.

Having extra adults around to help with expenses, child care, or just to keep each other company, can make life less stressful, more memorable and more fun.

Having Suzy leave her dirty clothes in the bathroom, or Junior deplete the gas in the car, may be mildly irritating when they are still in high school. But when they move back home, after college or after losing a job, these sorts of problems can quickly mount. Add to that grandmother’s sensitivity to loud noises and the kids’ tendencies to evoke them and, well, the situation can quickly become overwhelming.

Coordinate a Family Conference

So, where to begin? Before you consider combining households, you need to bring the adult parties together to discuss expectations, boundaries, and rules. This can include housekeeping duties, rent, or contributions towards expenses. It may even include behavior. For instance, if one party is moving in because of a job loss, maybe no rent is expected. But there will probably be expectations that the unemployed person will look for a job, and, at least, that dirty clothes will find their way to the laundry basket. Neither party will be happy if there’s too great a compromise on lifestyle, savings or retirement as a result of the other party failing to pull their weight. Nobody wants to feel taken advantage of or misused.

Set the House Rules

Once you’ve decided to green-light the intergenerational living arrangement, you will want to outline each party’s expectations and create house rules covering areas such as:

Rent and other expenses. Will the moving-in party pay rent, buy groceries, or make sure the family car has a full gas tank?

Housekeeping and repairs. Will housekeeping tasks be shared, or at least, not made any worse? If one party breaks something, will they assume responsibility?

Space concerns. Is your home ready for intergenerational needs? Do you need to baby proof? Or make accommodations for someone who might have trouble navigating the stairs?

Fitting in and getting along. This may be harder to discuss than the more tangible financial issues. If you are moving in with your adult son, for example, how will your presence affect his new wife? If your son and his family are moving in with you, will they expect live-in babysitting services? Is that what you expect? How will mealtimes and other routines change, or stay the same?

Goals and progress. If the new living arrangements are supposed to be temporary, while one party works to find a new job or pay off debt, what goals, timetables and milestones can you put in place? If Junior should be looking for a job, to help pay off $50,000 in student loans, should he be participating in multi-player Internet games until four in the morning?

I have known blended, intergenerational family situations that worked out very well. Young children got the benefit of having grandparents around; adult kids got a chance to get back on their feet; and older folks enjoyed companionship and some help with household bills and duties. But I have also seen generous people taken advantage of by “boarders” who never put food in the refrigerator, a load of laundry in the wash, nor have never made a meal. In these cases, the host family exceeded its budget and eventually lost its patience -- relationships and finances were seriously damaged. Intergenerational households might very well be a solution to financial problems, health issues or even loneliness. While it can be tough to impose rules on adult children, or on parents, you’ll only benefit by having these discussions and making everything clear in advance.

Guest blogger Marilyn Katz is the founder of the Over 50 Website, which is dedicated to topics that concern today’s baby boomers.

3 Ways to Help Your Aging Parents

Pamela — Tue, 24 Jan 2012 21:02:46 +0000

It didn’t come as a surprise when my parents started asking for more help around their house. My mother is 72 and my father is 77, so it’s a testament to their health that they’ve been able to get along on their own for so long. But between long hours at work and taking care of my girls, finding time in the day to get their groceries, clean out their gutters and do a little laundry was harder than my husband and I expected.

So he and I put together a plan to help us help them. Here are a few steps we took to fit everything in without losing our minds:

Schedule a family meeting

I knew my parents would be hesitant to own up to everything they needed, so I planned a family meeting to put it all on the table. My husband and I asked what we could do to make their lives easier and let them know that we honestly wanted to help. After they opened up about the things they were struggling with, we made a list of tasks they’d need done on a weekly and monthly basis. We also found out how often their prescriptions needed to be refilled or renewed. Getting everything on paper in the beginning really helped us make sure nothing important fell through the cracks.

Divide and conquer

My husband and I take 30 minutes each Sunday to write out a schedule for the upcoming week to help us keep everything straight. We highlight time-sensitive tasks, like doctor’s appointments, and clarify who’s handling each task. We also keep a running list of chores posted on a white board on the fridge. We put an ‘x’ next to each completed task—and when the week is over, we erase them all and start again. There are usually things my girls can help with, such as dusting and folding laundry, so we bring them along about once a week for some Grandma and Grandpa time. They love having their little chores to conquer and often race to see who can get theirs done first!

Identify danger zones

Always the homemaker, Mom has quite a collection of floor rugs around the house. But after witnessing a few trips and slips, I saw they were becoming a major risk factor. So, a few months ago, I added non-skid backings to reduce the chance they’d be a liability. I also check to make sure that high-traffic areas are clear of stray items and power cords, and that any furniture with wheels is locked in position. We’re planning to install handles or railings next to showers, bathtubs and steps for extra stability. Since a fall can mean a long recovery for people their age, you can never be too careful. Helping your parents retain their independence can be a challenge, but taking proactive steps while they’re still in good health can make all the difference later on. And having a plan in place can help turn a long list of chores into a family bonding experience that you’ll remember for years to come.

7 Things You Should Prepare for a Happy Retirement

Brendan — Tue, 04 Oct 2011 19:13:33 +0000

If you thought that preparing for a happy retirement just consisted of making sure that you have a dependable retirement income, then you are mistaken. No matter what your age, money is important, but it’s not everything. Here are seven things you should prepare well before you call it quits to make sure that your retirement can be the best that it can be.

Make sure you are healthy

You can't travel in your retirement if you don't have the energy to sight see, and you won't be able to enjoy the company of your family and friends if you are always sick. You need your health to enjoy anything, but most people don't think about it until it's too late. Maintain a good diet and exercise regularly starting... NOW!

Keep close ties with your whole family

Family seems to become more and more important to us as we age, but many often neglect the people closest to them in pursuit of wealth. Don't make this mistake. Make an effort to call your siblings regularly to check in on them. Take care of your parents, and do your best to create a loving environment for your children so they can grow up to be the best that they can be so that when you are retired, your family will be there for you.

Make friends

Our social support system is a significant source of happiness, and it's even more important in our golden years. Having a social circle to hang out or have lunch with is crucial to a happy retirement. If you do it right, your twilight years will be as happy as those carefree younger days!

Nurture a hobby

If there's anything you have more of when you retire, it will be time. There aren't many better ways to spend your time than doing what you love, so start learning something that you will enjoy for the rest of your life.

Develop a good attitude

When we are young, we tend to have more ambitions, expectations and try to force situations that end up stressing our life and those around us. Now that you are preparing yourself for retirement, practice patience, learn to see the good side of things and see your life magically become better because you and everyone else around you are less stressed.

Own your own house

You will find tremendous comfort in knowing that you own the place you call home. In your twilight years, having to pay a mortgage is just more stress than you need to deal with. While you are preparing your retirement, work hard to retire that mortgage when you retire!

Get your retirement income in order

No brainer there. Learn to save money every month by spending less, and make more money so you can put more towards your latter years. Given enough years, spending less than you earn is all you need to become financially free. Do all the steps well, and you will be living a happy retirement!

David is a guest blogger from MoneyNing. In exchange for sharing this content, the Allstate Community has compensated him via cash payment.

3 Key Questions to Help You Make the Most of Your Retirement

Brendan — Wed, 31 Aug 2011 15:18:28 +0000

When their years in the workforce are over and their kids have finally flown the coop, retirees must decide what to do with all that extra space. Some opt for home gyms and office spaces, but a growing number are choosing a more drastic change—moving into a new place to suit their new life. Whether it’s a cozy condo close to home or a bungalow on the beach, finding the right home—in the right place—can be a challenge. A few key questions can help you decide where to spend your retired life after kids and how to make those “empty nester” years anything but empty.

Is relocating right for me?

A change of scenery can open doors for many retirees, as time once spent raising children can be used to explore a new community. Urban areas, in particular, are popular with retired adults, as they offer a wealth of cultural events, museums, restaurants, coffee shops and boutiques often within walking distance of their new home. Cities that combine sun and fun are often at the top of the list. A recent Forbes article reports that Las Vegas, Austin, Atlanta and Orlando are the most popular spots for relocating retirees. However, if a cross-country move seems risky, there are plenty of housing options closer to home.

What type of home do I need?

Before you begin the search for your new home, it’s important to determine what type of lifestyle you want. Consider the pros and cons of these options before making your move Condominium: Condos are a great option for downsizing your space, as they provide an escape from yard work and major maintenance. They can also offer a range of options when it comes to floor plans and amenities like swimming pools and workout facilities—and usually at a lower purchase price than single-family homes. Townhome: Like condos, townhomes are located within a larger complex; however, most townhomes are closer to a single-family home in style, with at least two stories and individual roofs. You’ll also enjoy ownership of the land your unit’s built on, as well as any garages or small yards that come with it. Townhomes are popular with retirees because they can offer more space than condos while still limiting property maintenance and lawn-care needs. One-story house: For those who don’t feel at home in a complex, a small single-family home be just the ticket. If so, you’re not alone—buyers over 50 make up the nation’s fastest-growing category within the housing market, the National Association of Home Builders reports. Open floor plans, modern kitchens, large master bedrooms and easy-to-maintain outdoor spaces are key items on these buyers’ priority lists.

What will I do with all my stuff?

Start early: Growing families accumulate mountains of personal belongings over time, from sentimental knick-knacks to worthless old junk. Getting a head start on purging areas like your basement and attic—where most non-essential items gather—can decrease the amount of work you have to do later on. Stay organized: When preparing for the big move, hiring a professional organizer may help things run more smoothly. Organizers can stage different areas for packing, coordinate with movers and create a checklist you can use to pack efficiently. Stick to the essentials: When moving into a smaller place, less is more. Leaving a family home can be an emotional experience and one that may bring out your inner pack rat. Create a few memory boxes for each of your children to fill with favorite keepsakes and throw away or donate items that don’t make the cut. Whether you move across the street, around town or over state lines, your transition to retirement is a chance to rediscover yourself. Once you’ve unpacked your new place, make room for some fun!

Help Seniors Drive Safely or Stop Driving

Marilyn Katz — Wed, 17 Aug 2011 14:21:18 +0000

If you fall into the generation known as the baby boomers, there’s a good chance that you also fall into the sandwich generation. Why? Because we are sandwiched between the responsibilities for our growing kids and the growing needs of our elderly parents. While we usually accept both responsibilities, it can be stressful to step in and play the “parent” to our own aging parents.

As tough as it is to teach our teens to drive, it’s much tougher to police our parents’ driving. One important—and difficult—issue we may have to face is evaluating the safety of older drivers in the family. It can be very hard to summon the courage to tell the people who drove with us the first time—and possibly paid for our first accident—that their own driving habits make us nervous. But sometimes, for the safety of our parents and other drivers and even to comply with auto insurance company and state regulations, we have to force the issue. You may take some comfort in knowing that you are not the first adult child to have to tackle this problem—and that help already exists.

Warning Signs

Many elderly people can still display maturity, experience and strong driving skills, but some infirmities of age can make other older drivers a true road hazard. If you have concerns about one of your parents’ driving, you are right to address the issue. One ticket or accident isn’t a sign of a problem, but a change in the frequency of tickets, accidents or even small incidents should alarm you.

How to Talk to Elderly People About Driving

The most difficult part of this discussion will not necessarily be about handing over the car keys. The argument will most likely focus on your aging family member’s fear of giving up their freedom, responsibility and even identity. In our culture, one major rite of passage is earning a driver’s license. Aging adults may feel as if they are being treated like a child when they give up the car keys.

Try to approach the subject in a calm and caring way. Appeal to your aging parents’ lifelong sense of responsibility. Your concern is for personal safety and not about a few dents in a car. Turning in the car keys will be a mature and adult decision—not a punishment.
Present alternative transportation ideas. If an elderly person knows you will be willing to provide transportation, pay for cabs or help them locate city or senior center buses, it may reassure them that they will not lose their freedom and mobility.
Get help from health care professionals. Sometimes, it’s a lot easier for an aging parent to take advice from a doctor than it is to take advice from the son or daughter they taught to drive a few decades ago.
Find senior driving classes in your area. Some places actually require these now for drivers over a certain age. Sometimes, your older loved ones simply need a refresher class.
The professionals who run senior driving classes can also help evaluate and counsel the family about individual driver safety. If your parent is still a capable driver, a senior class can be a useful refresher, just like defensive driving classes. Some auto insurance companies even offer a discount for a successful class completion.
Hopefully, you can save this as a last alternative, but if you truly fear for your elderly family member’s safety and the safety of other drivers, you may have to request a safety evaluation from the police.
If your aging parent does have to turn in their driver’s license, assure them that they can replace it with a state identification card. Handing in a driver’s license can feel like a loss of identity, but replacing it with a state ID card can help.

You will have to accept the fact that you may be regarded as the bad guy for a while, but it will eventually pass. In the meantime, you can take comfort knowing that your actions may have saved your elderly loved ones’ and other drivers’ lives.

Guest blogger Marilyn Katz is the founder of www.over50web.net , an online community for boomers.

Safer Cars for Mature Drivers

Marilyn Katz — Thu, 14 Jul 2011 14:10:48 +0000

We mature drivers have years of experience. However, for some of us, we also must admit that our reaction time and eyesight may not be as good as they used to be. Despite that, we may be considered lower risk drivers because we use our experience, maturity and, hopefully, a clean driving record to demonstrate that we can handle vehicles safely. Now, let us use our virtues to make sure we do everything we can to compensate for some of the mild infirmities of getting older. That way we can keep the roads safer, enjoy more driving and help keep our insurance rates down! Inexpensive Ways to Make Your Car Safer Night Vision – As we age, our vision is likely to get a bit worse. A lot of times we hardly notice it, except when we have to challenge it. By all means, visit your optometrist regularly! Also note that dirty or yellow headlights can reduce your night vision by as much as 90 percent, and this problem is a lot more common than most people think. Your regular car wash may not be enough to keep your headlight covers as clear as when the car was new. So be sure you clean your headlights yourself or stop at a local service station and ask them to help you

Driver Safety Classes – Even if you have avoided accidents for years, you may still benefit from refresher classes. Many insurance companies offer a discount for their customers who take a driving safety class every few years, so it may be a worthwhile investment.

Navigation Systems – If your car doesn’t have a GPS, you can buy a portable device for about the price of two tanks of gasoline. Instead of having to squint to see street signs or addresses or worse yet, to glance down at a map, you can rely on a handy computer voice to tell you to turn right or left. New Cars – If you decide to purchase a new car, you can find all sorts of amazing new safety features—from collision prevention to blind spot warnings to rearview monitors. These safety features may add to the price of your new vehicle, but may also help earn you insurance discounts and make your car safer to drive. Adjust Your Seat Properly – Most of us are not as flexible as we were a few years ago. It is more important than ever to make sure you position your seat and steering wheel so you can comfortably operate your vehicle. Be a Wiser Driver – Many mature people have concerns about their parents too, so you may want to look into some safety features for senior drivers. Mature people are still considered a fairly safe group, but some senior citizens may be considered as high risk as some teen drivers. Making sure that your car adapts to your needs as a mature driver can be budget-friendly and simple. Some easy changes are surely cheaper and less troublesome than having an accident. Guest blogger Marilyn Katz is the founder of www.over50web.net , an online community for boomers.

5 Tips to Finding the Right Senior Living Community

George — Wed, 06 Jul 2011 16:31:08 +0000

Soon-to-be seniors searching for retirement homes may have trouble knowing where to start. Though many communities promote the fun side of senior living—game nights, shopping trips and, in some cases, on-site spas—there are serious considerations to make when choosing where to spend your retirement years, or when helping a parent decide where to spend theirs. With so much to think about, planning for senior living early can be beneficial in the long run. According to the National Clearinghouse for Long-Term Care Information, about 70 percent of adults over 65 require some form of long-term care services. Seeing as people’s need for care increases with age, it’s important to start thinking about retirement living even a few years before retirement. Use these tips to help you find a senior living community that suits your (or your parents’) future needs:

1. Choose Your Standard of Care

Visiting a variety of retirement homes can help you picture your ideal community—and which ones you’d like to avoid. When touring a facility, take note of the interactions around you and look for signs of elder abuse: Are on-staff nurses or visiting practitioners available when you need them? Is the facility clean, well maintained and lined with handrails? Do caregivers interact well with residents? It’s also important to consider the level of assistance the community provides. While independent living is important in the early stages of retirement, you may find yourself seeking additional help as the years pass. Continuing care retirement communities, which combine independent living, assisted living and nursing home facilities, can make this transition a bit easier. These communities allow residents to prepare for their future and receive proper treatment for health issues later on—without having to change homes a number of times. Assessing your health prior to choosing a facility can help you avoid expensive health fees not included in basic retirement care

2. Seek Third-Party Information

Even if your facility tour is pleasant, it’s important to take a deeper look. If time allows, sit down with a resident and discuss his or her experience. Have a meal in the cafeteria. Ask questions about the facility and get a feel for daily life there. Aside from first-hand impressions, consult resources like the Better Business Bureau^® and Eldercare Locator, which offer great planning and searching tips, and link to records of complaints or legal actions made against specific facilities. Medicare also offers an online system, complete with details on quality ratings, health inspections and comparisons of different nursing homes in your area.

3. Consider Safety Essential

Feeling secure is just as important in a retirement home as in any other residence. Make sure to ask whether facilities offer 24-hour security personnel and surveillance of surrounding areas. Check for locks on windows and doors and see if safety deposit boxes for valuables are located on-site.

4. Make Sure Your Money’s Secure

Moving into a retirement home is a major financial investment. According to the latest Assisted Living Facility Profile, published by the National Center for Assisted Living, the average cost of a private unit is $3,022 per month, which adds up to $36,264 per year. See what measures are in place to protect your finances while in residence—and ask what would happen should your funds run dry.

5. Take a Second Look

Don’t forget to double-check documents that need to be signed before moving in. A number of elder care attorneys offer services to help new residents navigate legal documents. Not all contracts are the same, so it’s important to understand the basic costs, along with what residents are expected to pay for additional services and health care.