UK Over-50s Yearning to be More Adventurous in Retirement if the Funds Last

The following is a press release from Girlings Retirement Rentals.

It seems that Britain’s retirees won’t be putting their feet up any time soon with many longing to travel and see more of the world, according to new research from Girlings Retirement Rentals, the market leader in retirement rentals. 

The research of over 1,000 people aged over 50 conducted on behalf of Girlings by 4mediarelations revealed that almost three-quarters (70%) want to travel more when they retire, with more than a third (37%) wanting to travel at least 2-3 times a year. 

Girlings Retirement RentalsBut rather than blowing all their money on one big trip, the over-50s plan to use their money wisely to make the most of retirement, with almost two-thirds (63%) saying they do not intend to take their pension out as one lump sum.

However, fewer than half of people (43%) think their money will actually last them until their 80s or 90s, so it may be difficult for some to sustain this more adventurous side of retirement unless they plan ahead and ensure they have the finances in place to ensure a good standard of living.

The research also highlighted that 35% of people want to move in retirement and downsizing is one way they could release their equity and free up money for funding retirement.

Peter Girling, Chairman, Girlings Retirement Rentals says: “Today’s over-50s view retirement as an opportunity to do all the things they may not have had time for in the past. With people living longer and being healthier, many will spend a third of their life in retirement. They need to plan their finances well to fund the lifestyle they aspire to.

“One good financial solution may be to sell the family home and downsize – either to rent a retirement property on an assured tenancy or to buy. This can free up capital to invest or spend on family or to travel if they wish. It also takes away the worry of maintaining a larger home, which can be a strain as people get older and downsizing may also result in reduced bills,” adds Mr Girling.

Moving to a specialist retirement development can also help combat loneliness. Girlings research showed that loneliness is one of the biggest fears of people as they get older.

Peter Girling comments: “Retirement developments have communal areas such as lounges and gardens so people can socialise. Many of the residents also organise social events such as coffee mornings and fish and chip suppers, so people can join in with these if they feel like it. People need not feel lonely which is important for people as they get older, especially if they live alone.”

Gary and Wendy Robinson both 69 have recently downsized and moved into a retirement property. They sold their family home in Basildon to rent a Girlings property in Clacton-on-Sea

Gary is a former transport manager and he and his wife retired early at age 60 and decided to downsize as their home seemed too big after their three children had left home.

Gary said: “We had a lovely split level house, but it was just a bit too big for us. Also whilst the house was new when we moved in, we were starting to need to do some work to it, including having a new roof and a new boiler.

“We didn’t want the responsibility of having to maintain the home as we get older so thought renting would be a good option. We also didn’t want to take on another mortgage and couldn’t afford to buy.

They looked at several Girlings properties and finally chose a lovely one-bedroom apartment at Imperial Court, Clacton-on-Sea, one of 83 flats in a purpose built development which is extremely secure with a door entry system and CCTV. The property has a sea view and is just a 100 meters walk to the sea.

Gary says, “We are really happy to rent. The apartment is great and it’s really safe and secure. We also like the fact that we have access to a 24 hour emergency call system in our apartment. My wife has Prinzmetal angina which can make her heart go into spasm. She has medication but it’s a comfort to know we have the call system to hand just in case something should happen.”

The couple enjoy an active social life. They walk everyday along the seafront and take part in some of the social activities arranged at the development including bingo nights, darts nights and pub lunches, Halloween and Christmas events and regular film nights.

Gary is also a keen bowler and is out several times a week bowling. He also travels around taking part in Bowls England President matches.

The couple love to travel too and Gary is always on the computer finding good holiday deals.

Gary concludes: “Last year we went to Cyprus, Jersey and Majorca. We love to travel and as we are retired we can find the best deals. We are always confident that our apartment is safe and secure when we go away which is a real plus to living in the development we are in.”

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Wealth Without Stocks or Mutual Funds – A SavvyReview and Giveaway

John JamiesonAuthor John Jamieson’s biography notes he has come a long way from his days as a college dropout. He has been a successful businessman for over 22 years and has launched several companies from nothing more than an idea and a goal. He has spoken to hundreds of audiences all over the United States and Canada on the subjects of Business, Real Estate, and Wealth Creation.

As he traveled, speaking and training, he realized there was a better way to reach more people; and be home more often for his family. He decided to write a book about what he has learned and put into practice in his own life. The idea was to help people of all economic means in reaching their goal; to create and build tax-free generational wealth as well as retire comfortably.

The result is Wealth Without Stocks or Mutual Funds: The Ultimate Blueprint of Little-Known, Powerful Strategies for Building Diversified Wealth and Income.

As someone who will be relying on pensions, one from active duty service, the two the wife and I are currently securing through our present employer and of course, Social Security as the anchors of our retirement portfolio; and who uses mutual funds – via Thrift Savings Plans (a 401k equivalent) and IRAs – as a significant support to those pensions, my interest was piqued and I jumped at the opportunity to review a book where the title clearly states that wealth can be achieved without stocks or mutual funds and a description which notes, ‘Most traditional financial advisors will tell you a “balanced & diversified” portfolio consists of different sectors of stocks. Garbage!’

Wealth Without StocksOf course I was already fully aware there are other avenues to building wealth. However, while my own experiences, training/education and interaction with other investors has led me down one particular path for building wealth and preparing for retirement, I’m certainly interested in learning more about a different approach. Building wealth, which can provide income from multiple sources, via various methodologies, is a good thing.

Early on, in the Preface, Jamieson makes a claim that is sure to gain the attention of most readers. Most ‘traditional’ investors typically think in terms of holding different assets classes (stocks, bonds and cash), different assets within those classes and adjusting the weighting of those classes as they progress toward retirement – or some other financial goal – when they think of ‘diversification.’ For Jamieson, “A truly diversified yet powerful wealth strategy must include investments and strategies outside of the stock market completely.”

Broken down into seventeen chapters, at 263 pages the book can be read in a weekend. Each of the first sixteen chapters covers a specific strategy. As examples, chapter three discusses reducing your taxes, chapter eight provides lessons on turn-key income properties and chapter thirteen sheds light on investing in mobile home parks. In the seventeenth, the brief and final chapter, Jamieson identifies three groups who would be reading this book … those with higher wealth ($100,000 – $500,000 in investments) and salaries (over $100,000), more moderate wealth ($30,000 – $100,000) and income ($50,000 – $100,00) and those with a modest amount ($0 – $30,000) currently invested; and identifies game plans for each respective group.

While I am quite satisfied with the approach – heavily reliant on mutual funds – I have taken on my road to retirement, and I have no interest in some of the strategies (e.g. investing in mobile home parks) mentioned, I do believe there is value in looking for alternative ways to build an investment portfolio or augment a portfolio that consists of stocks and mutual funds. That is particularly true for younger individuals and those who are not fortunate to have access, or limited access, to defined benefit or defined contribution plans. Wealth Without Stocks or Mutual Funds: The Ultimate Blueprint of Little-Known, Powerful Strategies for Building Diversified Wealth and Income is available at Amazon in Kindle and Paperback formats.

The Giveaway – simply leave a comment to be entered – will end, and the winner selected, at 12:00 p.m. (EDT) on Sunday, February 14th.

Following the publication of this post, I received an email from the author with this notification:  “I am offering a free home study course with 13 audios and manual to book buyers. This course has been sold from the stage for $995.00 at Rich Dad Poor dad events as well as several others.  If they [readers] buy the paperback or kindle they get the downloads of the entire course for free.”

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Living Frugally: Savvy Shopping

Taz Bright helms this series. Taz is a father, speaker, long-time business owner and graduate of the school of hard-knocks. Taz uses his past business and personal finance experience to help steer others in a positive financial direction while, hopefully, avoiding the mistakes he’s made along the way. As a former 6-year victim of Identity Theft, Taz shares unique lessons learned while trying to regain his financial footing. Taz is a member of Toastmasters International, a martial artist, former bodyguard and a CrossFit athlete. As the owner of Bright Balance Ministries, Taz’s goal is to help as many people as possible reach long-term, solid financial stability.

Living Frugally Piggy BankIf you are determined to live a frugal lifestyle it is essential that you learn the art of purchasing items at the lowest possible prices.

Doing so allows you to keep a higher percentage of your paycheck; therefore, allowing more for paying off debt, saving, and investing. How do you accomplish frugal spending?

First, pawn shops. These stores are very underrated. My wife and I frequently shop at a pawn shop next to our apartment. Since we both love buying movies we were thrilled that this shop sells DVDs & blu-rays for less than $5. We can buy three movies for the price of one brand new movie at popular store chains.

The movies haven’t been shortened, altered, or otherwise made any less great just because they are priced lower than their brand-new counterparts.  Also, we love knowing we are getting the most bang for our hard-earned bucks.

Second, thrift stores. Along with pawn shops, these stores are a great resource for clothing, furniture, electronics, and power tools. There is a thrift store in my neighborhood where I can buy a jacket, tie, slacks, and dress shirt for less than $5. Yes, all those items for less than $5!

You may be thinking these items may be off brand, unimpressive rags that I would not wear in public. You would be wrong. I’m talking about brands like Perry Ellis, Liz Claiborne, and many others. Of course, off brands are also available. However, if you are dedicated to living frugally, the brand’s name should not matter at all.

Thrift: noun \’thrift\ prudent use of money and good: the sensible and cautious management of money and good in order to waste as little as possible and obtain maximum value.

Imagine that you have $50 set aside for clothes. You can go to a famous chain store and purchase one, maybe two outfits. Conversely, you can go to a thrift store and spend $10 for similar items. That is the art of Frugal Shopping! And of course you cannot get any more frugal than free.



I like to browse the free section of Craigslist every now and then. Over the years I have acquired things like glass shelves, vases, a mattress, indoor plants, clothes, shoes, couches, a TV, and many more. It would be difficult to add up the monetary savings I have achieved over the years. Also, the barter section of craigslist is very helpful. Why not exchange something you are willing to get rid of something you want or need? Bartering allows you to acquire items without taking away from your bank account to do so.

If you want to keep more of your paycheck and become a frugal shopper, the first step is to search for thrift stores and pawn shops in your area; and pay them a visit.  Happy, frugal shopping!

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A Healthier, Wealthier Retirement

While most of us are working to ensure we’re financially ready for retirement, one thing that occasionally gets overlooked in retirement planning is how we’re going to manage our health. There’s no point being comfortable financially if we’re not well enough to enjoy it!

There are three core components to staying healthy as you get older – a sensible diet, regular exercise and good quality medical care. Here we’ll give you some tips on improving each element to ensure you’re as healthy as possible when you finish working.

Healthy Eating

The cornerstone of good health is your diet, and fortunately it’s fairly easy to eat good food without sacrificing your carefully planned budget. Focusing on avoiding processed food and making your own meals from fresh ingredients is a simple, straightforward way to getting your diet right.

While you don’t need to relentlessly count calories every day, it’s worth keeping an eye on how much you’re eating and how much you weigh. Our metabolism gradually slows down as we get older, meaning it takes fewer calories each day to maintain your current weight. If you eat like you did when you were 18, chances are you’ll start putting on weight and will need to deal with all the issues it can cause, including chronic diseases such as diabetes, hypertension, and heart disease.

It’s also best to get this under control when you’re younger, as dieting comes with additional risk as you get older. You naturally lose muscle as you age, meaning the proportion of your body weight which is fat is likely to increase and puts you at additional risk for falls and frailty. Dieting causes further muscle loss alongside fat loss, which can increase these complications. If you have weight to lose, do it now before it’s too late!

Get Moving

One of the most important things you can do for your health is to stay active as you get older. People tend to lose a lot of mobility and energy as they age, but it doesn’t have to be as severe as it often seems. There are pensioners out there hiking, running marathons and competing in power lifting, so the least you can do is walk to the shops for your bread and milk in the morning!

Dove Mountain

Morning Hikes … A Great Way to Start a Day

Weight training regularly can help strengthen muscles, joints and bones. Regular cardiovascular exercise, even low impact workouts like walking or cycling, can help reduce the likelihood of arthritis, heart disease and diabetes. Yoga and other mobility work can help you stay mobile and reduce issues with the back and the hips.

It’s all about finding something you enjoy and are happy to do regularly. It will improve your mood, your energy levels and your quality of life substantially when compared to living a sedentary lifestyle.

Healthcare

The final element of your health is your medical care. Regular visits to your doctor will help pick up any illness or disease quickly and will ensure you’re treated as quickly as possible.
If you have the financial resources it could be worth looking at private healthcare providers to see if any of the policies would be beneficial. It can often mean lower waiting times, access to higher quality facilities and better all-round care. For example many providers offer everything from child, dental and even cancer cover.

Keeping an eye on your body and how you feel will be important, and anything you feel isn’t quite right should involve a visit to the doctor. Even if it’s nothing it’s better to be safe than sorry!

Financial security is all well and good, but it’s impossible to put a price on your health. Try to be mindful of your diet, fitness and medical care and you’ll get so much more from your retirement.

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