If you are a baby boomer contemplating retirement, stock market gyrations are bad for your fiscal and mental health. A common reaction in recent years is to leave the market entirely and put your nest egg in cash and cash equivalents. Regular readers may recall that I agree with this strategy but only in part. More about that in a minute. [Read more…]
Archives for August 2011
This has been interesting week. An earthquake along the east coast. Another in Colorado. Meanwhile, hurricane Irene is bearing down on the Atlantic coast. Let’s not forget the horrendous flooding along the Mississippi in April and May and the later Missouri River flooding. These events tend to make us consider whether environmental hazards and adverse weather conditions should influence the “where to retire” decision.
As part of our ongoing downsizing efforts, we have sold a dozen or so items on Craigslist over the past few months. Furniture, bicycles, a jukebox and today, a car. It was an interesting experience to say the least. Even from this single experience, I learned a few things about Craigslist car shoppers that some of you might find interesting.
Some of you see AARP and think “marketing machine.” That’s a natural and accurate response. But the AARP is much more than that. It genuinely cares about the interests of our seniors. It puts money and manpower (paid and volunteer) behind efforts to solve problems in our senior community. One of those big problems is a silent killer: hunger.
The “new” stock market does not like hopeful retirees. We must accept that. What happened last week and yesterday (Aug 8) is precisely the reason why I do not trust the equity markets to provide for our “must have” income in retirement. It is also the reason why I created the Failsafe Retirement Plan and use it myself. So what will you do in response to this most recent negative market move? Nothing? Just add yet more years to your “I can’t retire yet” plan?
I am participating today in a social media and communications outreach training program sponsored by the AARP Tennessee chapter for its volunteers. The statistics on the growth rate for 50+ participation on Facebook and other social media sites is astounding. It dwarfs that of other age groups. The AARP wants its volunteers to use social media as part of its issue advocacy program. Folks seem to overlook this important
aspect of the AARP mission.
The Tennessee Chapter is piloting a way for volunteers and staff to interact and share information online to facilitate advocacy and other programs. They are using Google Sites for this purpose. I think it will work well.
More to come …..
Last week I wrote a post for the U.S. News On Retirement blog about different mind tricks you can use to help your retirement planning. Three of the tips involved thought strategies that can help us save more by avoiding discretionary purchases and/or by motivating us in very specific ways. For example, setting aside extra cash is a lot easier when that cash is for a “go on a yearly cruise when I retire” fund.