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Baby Boomer Going Like Sixty

Baby boomer man humorously looking at life after 60, retirement in Costa Rica and Florida.

Baby Boomer Going Like Sixty
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Retired Senior Citizens and Possible Expenses

Baby Boomer Going Like SixtyPosted on October 17, 2020 by goinglikesixtyOctober 17, 2020

Life in the modern era is expensive as can be. It doesn’t matter if you’re a senior citizen who has just gone into retirement mode, it doesn’t matter if you’re a spring chicken who has just graduated from a college or university, either. Dealing with the costs of being alive can be significant. If you want to minimize the sting of having to pay for so many things, however, it can help you greatly to be able to prepare like a champion. Retired senior citizens should think in great detail about expenses that may be necessary for their day-to-day existence.

Elderly individuals often have to pay for medical supplies. They often have insurance coverage that handles medical devices and similar things. There are exceptions, though. If a retired senior citizen wants to lead a comfortable life, then he may want to think about everything from automatic pill dispensers to transport ventilators.

People who are retired often like to set aside cash for recreational activities. Since retired people do not have to go to jobs daily, they in many cases have substantial amounts of spare time. They often use this time to go after pastimes and hobbies that mean a lot to them. A senior citizen, who no longer works, may go after gourmet cooking as a hobby. She may go after knitting as a hobby as well. Senior citizens who want to enjoy their lives often set aside money for supplies that can make it a lot easier for them to go forward with all of their ambitions and wishes.

Retired seniors have time for things that go beyond hobbies that they can take on in the comforts of their own homes, too. That’s because there are many elderly individuals who are keen on traveling to distant and exotic locations. It can cost an arm and a leg to travel to another nation. Seniors who want to see the world, however, in many situations, take that cost component into consideration. Older people often budget their lifestyles based on their travel aspirations and more.

It isn’t uncommon for people who are older to stop driving their vehicles. It can be quite hazardous for older folks who have vision issues to get behind the wheel. It can be dangerous for seniors who have mobility issues to do the same. Since seniors are often unable to handle their own travel requirements, they frequently turn to public transportation. They frequently rely on taxis and car services as well. Costs for car service can be steep at times. They can add up pretty rapidly. Seniors who want to feel safe and secure often have to think at length about transportation costs any time they put together their monthly budgets.

Renovation work is a biggie among seniors who have lots of free time. Seniors who are retired often get a lot out of joy out of updating their precious living spaces. Since senior citizens tend to spend more time at home, they understandably want to be in living quarters that are both convenient and visually appealing. It can be costly to upgrade any kind of home. Seniors often choose to set aside money to finish their basements and turn them into guest bedrooms for their grandkids and family members in general. They often choose to set aside money to put together additions as well. It doesn’t matter if a senior opts to install a deck or a gazebo in his backyard. It doesn’t matter if he opts to install outdoor lights that can promote a higher level of safety and aesthetic charm, either. It’s critical to think thoroughly about any and all renovation and remodeling costs prior to moving forward.

Seniors should put a lot of time into thinking about their most substantial expenses. It can help people greatly to prepare even before they’re classified as being senior citizens, too. People should do what they can to put together retirement funds while they’re still working. If an individual has no clue how to put together a retirement fund that makes sense, then it may help him considerably to work with a financial planner. Guidance from financial planners can do so much for people who are part of all age groups. It can stop them from making serious and frustrating retirement savings mistakes.

Posted inBaby Boomer

The Stock Market: Seniors and 30-Year-Olds

Baby Boomer Going Like SixtyPosted on October 16, 2020 by goinglikesixtyOctober 16, 2020

Once a person reaches age 30, the world seems to appear differently. It is not like your mid-20s, when your perspective on life may have been less in focus and malleable. Around age 30, people may be more direct and clear on their intention in life. They may know a lot more about the little things that can make big things happen once they pass their 20s. Once someone reaches their senior age, they may be at a point in their life where those choices made at age 30 should pay off. Let’s go over how seniors view the stock market compared to people in their 30s.

Understanding Stocks

A simple way to understand stocks is to think of it as a language. Learning a new language is hard to comprehend when you first begin. When learning about stocks and investments, it may be difficult for people to understand why people choose the stocks they do. Once someone learns the language of stocks and investments, then things seem to flow a lot easier with every investment.

An excellent step to understand stocks is to learn about stock ratings. A stock rating is basically a measurement of stock performance and also predictions of its potential. Understanding stock ratings will help people better understand the stocks they invest in and its potential true value (fair value) compared to their market value.

The older generation may have a grasp on investments and could have profiles already lined up. The younger groups in their 30s may miss the bigger picture of investments. The younger groups could also still be in the learning period of investments. Older groups invest in stocks to support themselves, while younger groups may invest to retire.

Investments vs. Retirement Savings

Most people have considered starting a retirement fund by age 30. They know it is time to set up a life plan for the long haul. Seniors most likely already started using their retirement funds. Seniors realize how important it is to diversify investments and savings. A retirement savings account is not enough. No one knows what the future may hold, so investing is important for those bumps in the road. Investments can continue to grow, and they are often more diverse than retirement savings. Retirement savings are more guaranteed and can be a safer option. Consider having both retirement savings and several investments.

Deliberate Action

Investing can intimate people, so the best option is to make the best choices for your financial plan. A senior person’s financial plan could focus on aiding lacking retirement funds, or it could focus on building generational wealth. A younger person’s goal could also focus on building generational wealth; however, they might seek to spend some of that wealth during their middle-age years. The stock choices are just as important as the financial plan. Senior people have had more time to see how the market flows, this gave them a head start. The New York Times discusses how to navigate the stock market. Their discussion is useful to anyone at any stage of their investment plan.

Preference

A senior has different preferences for their goals than someone in their 30s. A senior is focused on sustaining themselves through their later years, while a 30-year-old focuses on becoming something and building themselves up. The importance of age gaps is to understand why stock investment plans are different and why they change. Stocks that a senior invests in can relate to stock market patterns they have seen. A 30-year-old may focus on pop-culture related investments. Over time, their profile may mature, since pop culture stocks change along with trends.

Investing can intimidate anyone at first, the best option is to take the first step. If you have already taken that first step, then you have already won half of the battle. No matter your stage in life, the stock market is a great investment opportunity for anyone. Not everyone invests when they are younger. If you compare a senior’s long-term investment profile to a 30-year-olds, you find that they are very different.

Many seniors who started when they were 30 would have invested in companies that are much larger today (or are no longer in business). Many 30-year-olds are investing in companies they hope will be bigger companies someday. Many people begin their investments at a later stage in life. Either way, if the chosen investments are diverse, then prosperity is certain.

Posted inBaby Boomer

Life After Sixty – Fun Activities to Do to Stay Active and Mentally Challenged

Baby Boomer Going Like SixtyPosted on October 15, 2020 by goinglikesixtyOctober 15, 2020

Growing old is an inevitable process, and no matter what you do, you can’t stop time. Many
people dread the idea of turning old, but as they say, each stage of life has its own perks and
fun.
When you are sixty, it might feel like your life is coming to an end. While it’s certainly passing
by, it’s not exactly ending. It’s important that you keep yourself busy in different activities so
that you manage to stay active, agile, and both mentally and physically challenged.

If you’ve recently turned sixty, it’s time for you to indulge in different activities to prevent
boredom, loneliness as well as to reduce health-related problems.
Gardening
There’s something so pleasant and addictive about gardening. From growing different kinds of
fruits and vegetables to trimming the grass to simply watering plants, it’s a really fun and
engaging activity, especially for older people.
If you have a garden, you can do all sorts of gardening activities or even just walk in your garden
for some fresh air. From staying busy to being fit and active, it offers many benefits.
Arts and Crafts
Who says you can’t have fun and explore your creative side when you are sixty?
Arts and crafts are such a wonderful opportunity for older adults to not only kill time but also to
have fun and do innovative projects. There are so many amazing arts and crafts activities that
you can do, such as jewelry making, painting, woodcraft, paper craft, pottery and glass craft,
and so much more.
Online Gaming
Being physically active is extremely important when you are in your sixties, but so is being
mentally challenged. Online gaming is such an engaging activity where you can try your hand at
different types of games and experience mental stimulation.
If you want to make it even more interesting and engaging, how about making some money off
of it? Take online gambling, for instance. If you wish to relive your young gambling days when
you would hit the casino every now and then, perhaps, the idea of an online casino would
particularly tempt you! Casimba Casino is one such platform where you can play a variety of
different exciting games and enjoy a great time!
Cooking for the Family
Isn’t cooking so much fun, especially when you get to do it with other family members and
create some delicious dishes?
On top of that, cooking provides a great sense of achievement, which is very important when
you are in your sixties because life can feel quite dull and dreary at that stage.
Try new recipes, experiment a little in the kitchen, and bring your family together over home-
cooked meals where you can create loving memories together. The best part is you get to use
your old cooking tips and tricks to create delectable masterpieces and leave everyone
thoroughly impressed!

Enjoy Your Sixties!
Many people often become depressed at the prospect of growing old, especially when they
cross their 50s. However, one should always embrace it with happiness and positivity because it
only goes to show how far they’ve come and what all they have achieved in life!

Posted inBaby Boomer

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