Seniors Site

Once in a while, I fall into this impulse buying trap. This is usually when I chance upon a big sale at some popular chain or brand. You see, I consider myself “mostly practical” spender which basically means I don’t just buy things without giving it much thought and I am proud to say that I was able to help a couple of impulse buying friends reassess their spending habits but that doesn’t mean I don’t have my own loophole to contend with. Once in a while, I find myself buying something that I don’t really need but I really, really want.

Impulse buying seldom yields desirable results. Usually it brings about bad feelings such as regret and guilt and of course, impulse buying is rarely cheap. It is not even impossible for a moment of impulse buying to drive you to bankruptcy. With that said, we all agree that impulse buying is something that you must avoid at all cost and for seniors to be empowered, we must consider doing these steps:

* Make a shopping list and really stick to it! When you make a list, you’re given time to think about the things you are going to write down – assess if you really need to be paying for them. Upon bringing your shopping list to the store, you now have a firmer grasp on what comes into your shopping basket as well as your budget for the whole trip. When the urge to buy impulsively hits, you just have to take one look at your list and you are back to proper shopping perspective.
* Allow it some time. “Love at first sight” usually strikes unexpectedly, so does impulse buying. Allowing it a little more time, let say, a week will help you decide if you really want it or it was just a “puppy love”.
* Buy something, sell something. Keep things at minimum by keeping only the things that you need. If you have to replace your old sofa for a brandnew one, then sell or donate the old one. This way, you’ll be able to really enjoy your new sofa without feeling all guilty about it.
* Be a smart buyer. It’s not bad to buy impulsively sometimes especially if it’s a one-day sale and there’s no way you could allow time to think but at the very least, using your head while buying will help you stay on top of the game and not be fooled into buying things you don’t really need.
* Avoid using credit cards. If you feel – yes, don’t ignore that nagging feeling – that you are about to buy on impulse, then might as well pay in cash. Cash is harder to let go and will bind you to only buy what you have onhand whereas if you buy with your credit card, you are more or less, without limit.
* Be specific when shopping online. I don’t know about you but the things I see online are much prettier than seeing it physically on a department store. Hence, it becomes easier to convince yourself on buying “eye-candy” things that you don’t really need. When shopping online, it is best to look specifically for the things you intended to buy and avoid browsing through marketplaces.

While marriage is a beautiful thing to have especially when you’re nearing your twilight, most seniors opt not to get married at all, not by personal choice but by considering the complications it may bring to their documentations and assets. As silly as it may sound, some seniors- and their daughters and sons, I presume- deem it beneficial to forego marriage and just live together to protect your assets. Of course, this can get a little offensive for the other half with lesser asset but like they say, love still prevails with or without hurt.

Understand that nowadays it is important to protect your individual and combined assets. Not getting married simply means simplifying things and it is almost always not personal. In some cases, it is beneficial for both parties especially if both have gone through divorce and their “beneficiary list” is long enough to confuse an insurance company. However, take note that “living together” has its own traps that may complicate things when you go away.

At some point, there will be “money talk”. Even for the simplest of things such as paying bills and opening joint accounts. It is best if you get it out of the way even before you move into the other person’s house. Good thing to remember is that in any partnership, there should be “house rules” for both parties. These are your limits and your rights, if possible, put it on paper. If writing it down right away isn’t possible, then grab a trusty video camera, hold today’s newspaper with dates showing and blab your “agreement” away. If you can do this together then that would be great.

Another tricky part of cohabitation is signing loans. It doesn’t take a married couple to co-sign a loan. Like in any other partnership, all you have to do is take yourselves to the company offering loan, armed with your proper documents and you’re on. This is not only applicable to huge loans by the way, getting your partner a supplementary credit card or an extension to any of your accounts is considered as co-signing or being held liable for the other person’s debts. Even if you have clearly indicated in any legal document that you are not to be held responsible for your partner’s debts, when you co-sign with her on loans, that will automatically make you indebted to the loan company thus affecting your credit standing.

Remember that one of the ideas why couples opt not to get married and just live under one roof is that it will be easier and less messy to end the relationship if it will not work out. With that said, you should also bear that in mind when it comes to financial planning and anything that involves your money.

When we were younger, we look forward to retiring. We work long hours just to be able to make ends meet and at the same time, save a little something for retirement. Retirement, for many American adults, is considered as the next phase, when there is nothing anymore to worry about, a time to travel and just do whatever you want, whenever you want. You are not expected to be working anymore. No pressure. No obligations. Unfortunately, that is not always the case.

There are people who were born to work. They enjoy making money. It makes them feel alive. Trust me, they are not doing it just because they are greedy but it gives them a kind of fulfillment only an accomplishment could give—something that is important when you reach a certain age. Hence, the senior entrepreneurs.

Indeed, the word “retirement” has adapted a whole new meaning. More and more seniors are getting on the bandwagon either delaying retirement or starting new businesses. I say seniors today are getting restless and way more active than 20 years back. Funny if you notice how younger people are going into early retirement nowadays while seniors became more interested in working and building businesses. Now you know that the playing field has gone fair.

If you ask seniors why they ain’t quitting, you’ll probably end up with several different answers. That is because seniors are working for several different reasons. Some work to supplement their nest egg which was affected by the economic crisis while others believe that working gives them something to focus on, like their life’s direction. Funny how some seniors felt lost after retiring from work and needed something to occupy their time – funny but indeed true.

According to many retired seniors, retirement’s number one enemy is boredom. After years and years of working, it is just a huge leap from a working day to a “retired” day especially now that seniors are as active as ever and everything seems so convenient to do. Putting up an ecommerce site, for example, doesn’t even have to cost you a week’s allowance let alone a couple of hours working on your computer per day – at home. Even seniors with limited range of motion can do that!

Healthwise, staying on business proves to be healthy. Studies show that a senior who is engaged and actively running a successful business tend to live longer and happier lives. Aside from that, senior entrepreneurs are not at risk of being discriminated as opposed to applying for a job or trying a second career.

When we talk about seniors and their tendency to get scammed no matter how careful they were, the only thing that comes to mind is that 1) the one being scammed is a senior who is easily confused and prone to believing grandiose but flimsy promises and 2) the scammer is a lot younger, say 20-30-40 years our junior.

Not anymore. There is a new type of scam out there that the scammer and the victim are both seniors. Scary huh? Ever heard of “financial advisers” whom you go to for financial advice and planning especially if you are dealing with retirement money a.k.a your nest egg? You don’t usually trust your retirement money with someone younger than you right? So by instinct, you go to someone a little older than you and a lot respectable to look at, like he knows what he is doing. Not surprisingly, you would go to a fellow senior if you happen to be looking for a financial adviser. Nowadays, this logic seems to be the one to push you into a scammer’s disposal without you knowing it.

For the longest time, seniors were thought to never hand over their money to someone who happened to just befriend them over a couple of beers. Or perhaps, never to talk to strangers in any communication form, i.e over the phone, via email and most especially upon opening your door and finding a stranger standing there. These are the only places we seniors have carefully placed red warning flags. Certainly not when we are the ones to voluntarily go to someone’s place and ask for help, right? Sadly, this is how scammers operate now.

Of course, there are ways to avoid falling into a senior-scamming-senior situation. One is to involve as many trusted heads as possible. If you are to hire a financial adviser to help you manage your retirement money, make sure your spouse or partner knows it. Better yet, have your lawyer involved. Your partner and your lawyer may have their own thoughts about the things that will be raised during planning and it will make the scammer more conscious of their actions.

Never take a person by title. Bear in mind that the words “professional”, “certified” and “senior” don’t really mean anything as they are designated titles. Unless they have a real certificate to back up their claims, titles shouldn’t impress you. Instead, investigate and check their credentials. Furthermore, it might help you if you check their associations and groups they are involved with.

Lastly, whatever deals offered to you by your financial adviser, do take some time to check if it is legitimate and if there’s a possibility that it will work for you. No matter how wiz your financial adviser is, it’s still your money and you should be the one calling the shots.

While I encourage seniors to make the most out of their lives especially during retirement, it is not impossible for many seniors to still be scrambling for money or perhaps doubting if their nest egg is really enough. My take is that your nest egg can never be enough. Aside from that, you will come to a point when your “retired” days become boring, annoying and downright ridiculous – enough reasons to make you get out of the house and do something meaningful to occupy your time – okay, not meaningful all the time but whatever is there to amuse you, right?

Hence the delay in retirement. I believe that seniors nowadays are as active as ever and they don’t really need to be told that they have already reached their retirement age. Nowadays, “retirement age” is only a number, nothing more. However, there are many factors you need to consider now that you are nearing your retirement age, one of them is time spent on rediscovering yourself. It is only normal to be torn between putting up a business and be your own boss vs. staying employed wherein financial stability is almost guaranteed.

Assessing the risk is the most important of all factors to consider if you are torn between these two options. Putting up a business is quite risky especially if you don’t have enough experience under your belt, formal and informal experiences, while staying employed can bring about dissatisfaction and unease since this should be the time when you could finally enjoy a slower phase and pursue other interests. Emotional risks should not be taken lightly as it can lead to depression and ultimately other health problems. It is important that seniors stay happy and contented all the time, no matter what.

Again, staying contented is the key to a happy seniorhood. Moreover, it is important that whatever you are doing motivates you as well. In other words, you should be enjoying the work you do, and at the same time, it should challenge you as a person. If you decide to self-employ then make sure you have enough time to grow with your endeavor. On the other hand, if you have decided to stay employed, better make sure you are getting exactly what you want from it.

Lastly, always include your family in the equation since they are the most affecting factor on your decision. Either way you decide to go, your family will surely feel the effect so make sure they are always involved and they know what to expect.

Nobody said that writing your own will is fun, in fact, most seniors prefer to write and be done with it and not bother to update it until last minute, if they ever get one – and sometimes they don’t, so it leaves their surviving families in a lot of confusion and potentially, heartaches.

On many counts, drafting and writing your own will is a hard job. Not only it is somewhat acknowledging your inevitable death but actually planning for it. However, if you are pushing 80 then might as well admit it and save your loved-ones the confusion of going over your estate and battling out what they think is rightfully theirs. Below are some basic information all seniors should know about wills and how they should be done:

* What is a will? A will is a legal document that will be executed in the event of your death. Your will should contain your wishes on how your estate should be managed when you pass away. Big or small, everything you own should be mentioned in your will along with specific instructions on how it should be managed. Be sure to name an executor – the one that will oversee your will, guardians – if there are kids involved and beneficiaries – the people who will inherit your estate.
* Do I need a lawyer for this? Ideally, yes since a lawyer can guide you on how to properly draft your will and make sure your will will be executed smoothly and without any legal problem whatsoever. However, your will is still valid even without a lawyer as long as its content is legal.
* What happens if I don’t prepare a will before I die? The state will determine who gets who, prioritizing your next-of-kin. The state will also appoint an administrator. In some cases, it will be necessary for your loved-ones to file claims and let the state sort things out. With that said, you would know that this could get ugly and even nasty.
* Do I have to notarize it? In some states, yes so please do check otherwise your effort might go to waste.
* Do I need a witness? How many? Yes, you need to have at least two and they shouldn’t be your will’s beneficiaries. Your lawyer cannot be your witness as well especially if he or she drafted the will.
* Does my will need updating? Yes, of course. Keep in mind that in every major event in your life, you need to update your will so that you avoid complications later on.

A will is not something you plan, draft, finalize, get stamp and be done with it. Your will needs to get updated too every once and a while or if there is a major change in your life such as remarrying or in an event of a divorce. You reexamine important points in your will and make necessary adjustments to it. It is practically an ongoing thing and never a one-time deal. I am telling you this because I have a lot of friends who haven’t had a peek on their wills since they first drafted it and I won’t be surprised if the lawyers who assisted them on their wills are long dead by now either. This is not healthy and it will only cause trouble once you’re gone. Even if you are not there anymore to witness such family disaster, save them the energy by leaving them an updated will at the very least.

Here are some events in your life that you need to take note of as it will need you to reexamine your will as soon as possible.
•    You got hitched. Whether you are leaving your partner everything you have in an event of your death or would not want him or her to inherit anything from your property before, during and after the marriage, you will need it written on your will as your partner does not automatically become your heir especially if you have children.
•    You got a boyfriend. Or girlfriend. Having a partner, married or not, living together or not, if you want them to be your sole heir, you need it written on your will or else they will get nothing and if you don’t have any children left, your estate will go to your relatives or next of kin. If none can be found then it will all go to the state.
•    You adopted a kid – or perhaps you were granted by law as a guardian to your grandkids or custody of them and you would want them to be cared for when you pass away. Since you would like to specifically name them as your heir, you need to include their names on your will.
•    There are changes on taxes and laws. Like I said, tax is a really complicated thing. One moment you’re burdened with taxes, next thing you’re eligible for an exemption. Plus there are many loopholes you could explore when trying to cut back on your taxes. Try to take advantage of them while you can.
•    Your better-half died. As much as it is a very emotional devastating moment for you, you need to be very careful during these times as your actions can affect your will and your spouse’s too. It is always best to seek help from experts or your family lawyer in such difficult situations. If you trust them enough, let them take care of it while you mourn and  get over the loss.

Well, it doesn’t really have to be an income generating business for seniors to take advantage of these awesome online tools; it can also be a venture, or a cause you’ve been trying to raise awareness of or perhaps a project you’re working on such as an extensive family tree or simply a way to connect with your loved-ones. Whatever it is, it is still good to know some online tools recommended for seniors to use since these tools are really easy to use and understand – you don’t even have to be a tech-savvy to use them!

* Google Apps. If you are housing 50 staff or less, and you need customized email addresses to look professional but don’t have enough funds for a fully functional IT department, then Google Apps is for you. You can also reserve a domain name to use if you still don’t have one by now for a small fee. Google Apps comes with Gmail account, Gdocs and calendar, all synchronized with your staff. Not much difference actually from your standard-issue Gmail however, you won’t see that @gmail.com anymore which tends to turn some clients off. Also if you go for Google Apps for Business, you get Google video and Google groups alongside other very useful features. Get Google Apps here.

* Dropbox. Tired of spring-cleaning your storage ever so often? Or perhaps you don’t have enough space in your computer to save all your important documents? Or maybe, just maybe, you are looking for a way to just make a file, save it and it will show on your staff’s folders and computers without you having to send them over? Dropbox can do all of this, not to mention sharing large files which undoubtedly your email service won’t be able to handle. Get your dropbox here.

* OpenOffice.   OpenOffice works very much like Microsoft Office but without the hefty price tag that comes with it. So if you are looking to install such thing to several computers but don’t have the budget to do so, this is a great alternative for you. Get your OpenOffice here.

* Mailchimp. While Mailchimp cannot be installed into your computer and runs solely online, it is worth mentioning here as it can be your greatest pal in promoting your product, business or cause. If you must know, Mailchimp is a bulk email service which means you can send out newsletters and email updates just by signing up with an email address. It is so simple to use that even a newbie senior won’t have a hard time sending out “pro” looking emails. Get a Mailchimp account here.

* Skype. I will assume that you are familiar with Skype as I don’t know of anybody who doesn’t right now and if you tell me you are not aware of what Skype can do for you then you’ll be the first on my list. Skype is great – not only can it send instant messages to your staff but you can start a conference chats in there. Also, their screensharing feature proves to be really valuable if you are operating far from each other. Download Skype for your computer here.

Indeed, shopping and cooking for one is no fun. In fact, studies suggest that this situation usually causes a senior to not eat healthy and can even lead to depression. Sensibly speaking, it is often not practical and if you are not too careful, you might end up with too much excess—to your dog’s delight, of course, or your neighbor’s if you don’t have a dog.
However, with a little adjustment and a battle plan, you will be able to avoid wasting your time, money and resources and still be a satisfied, well-fed human being! Below are some handy tips you can do today:
·         Buy only what you need. This can be tricky as sometimes I find myself walking to a grocery store with a firm list of what I will buy and still end up double the number of the things written on my list! So the next best thing to a list is actually sticking to it. Don’t be sidetracked by flashy ads, just go inside, grab what you need and head out.
·         Freeze them. If you are used to cooking for two and cooking for one would mean big time adjustment to how you cook then go ahead, cook for two, divide into two portions and freeze the other portion for future consumption.
·         Never bulk buy, no matter how cheap!! Seniors are the most notorious bulk-buying group—and with good reasons. However, never take your habit with you when shopping. Remember, you are now shopping only for yourself thus you need to buy only what you can use.
·         Be particular with expiration dates. Since you are shopping, cooking and eating for one then there is a chance that you won’t use it right away.
·         Use online stores for shopping. It is truly convenient and many seniors are doing their groceries now via online. For two reasons, one is you save awful lot of time and energy and two, you won’t get sidetracked by things you don’t need. Another plus in shopping online is that discounted items are often upfront and detailed, so you don’t have to look for them anymore or get them by mistake.
·         Timed grocery shopping. You do know that most stores cut their perishable goods prices by half around closing time and usually a day before holiday when they are due to close right? If you are a pro in selecting good meats, practice your skills and take home an expensive cut that otherwise you can’t afford.
·         Backyard gardening. It is very unlikely to find a lonely tomato for sale. No matter how many you need, you must buy them in groups right? Same goes for spices. However, to avoid buying in excess and end  up throwing rottens away, why not grow them in your own backyard and just go pick one if you need them? Gardening is therapeutic for seniors and you can make some money out of it too, if you like.

Now that we are aging right according to schedule, it is important that we also move on to doing better and worthwhile things. We’re now done with regular life troubles such as making money, keeping the family intact, making sure you have enough to keep the roof over your head and food on the table, etc. It’s now time to satisfy your inner calling and give back to the world you have been living into for so many years. I’m talking about causes.

Causes are what we stand in for. It is the force which pushes seniors the world over to join volunteer works or do things even without any compensation. It is our way of giving back. One of my favorite causes is being environment friendly. Although I am not the kind of person who will draw blood when beliefs are contradicted, I make sure that I do my part well. I would like to think that in order to convince people into following my beliefs, I should lead by example, at the same time, point out the good benefits of following the path that I personally chose.

Going green is not all about saving the world. For me, that is talking big and sometimes, just hearing it can be overwhelming to some. You don’t just go “saving” the world, it should be a personal decision, a decision you made to change your lifestyle, make sacrifices and make a difference, no matter how small. Since I made this decision a long time ago, I say that the biggest benefit of going green is saving a lot of money which is really important nowadays considering the financial crunch we are apparently experiencing. Below are some points on how going green can save you money:

•    Reduce, reuse and recycle. This is me going green. For me, this is the easiest way to go green, just remembering these three words and living by them. When you reduce, it means you should downsize. Buy only what you need and nothing more. When you reuse, you don’t buy anything new, instead you think of ways to use again the stuff you already bought and the things that come with it. When you recycle, you save a lot of trees, manpower etc.
•    Saving energy and water by turning them off when they are not needed will mean you don’t have to pay any extra for your consumption. Do take note that water can also be reused so don’t just throw them away unless they are really, really dirty.
•    Save on gas and lessen your carbon footprint by walking or biking short distances will, of course, lessen your need to buy gas and at the same time, prevent further polluting the air. It’s good for your health too, you know.
•    Saying no to bottled water will save you a lot of pennies since bottled water is evidently more expensive than bringing your own in a reusable bottle or thermos from home. This way you also lessen plastic waste.
•    Barter the stuff that you don’t need. Bartering does not involve any money plus you’ll be able to dispose some of your stuff and find them a new home.