Retirement Life

You've worked hard for a long time and now it's time to live the retirement lifestyle you always dreamed of! Make your retirement years more enjoyable with proper planning and by keeping your finances in check. Here are some helpful articles for your retirement lifestyle:

Saving Can Continue After Retirement

You've been waiting for this day forever; you're retiring. It's common to be worried about your finances, but your nest egg still can grow.

Create a financial plan and determine where your money will come from—investments, Social Security, or savings. Experts recommend keeping your money in tax-deferred savings as long as possible. Establish a budget and review your finances annually.

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Woulda, Coulda, Shoulda: What Retirees Wish They Had Done Differently

A number of surveys and studies show that many current retirees wish they had done something differently in preparing for retirement. Workers today have a golden opportunity to learn from their mistakes. These five lessons offer the insight to help you achieve the retirement of your dreams.

Save more—The 10% savings objective that was the standard years ago might leave you short down the road. These days a savings goal of 20% of gross income is a better target, with that percentage going up the later you start.

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Watch for Signs of Elder Financial Abuse

The problem of financial swindles targeting senior citizens is very real and is getting worse. Research indicates that most often the perpetrators are family members or caregivers, with elderly women more likely to be targeted than men.

If you have someone caring for you or another individual, watch for these signs that financial exploitation or abuse may be going on:

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Seniors and Credit Card Do's and Dont's

What are your retirement dreams? While your list may be long, it surely does not include spending time worrying about credit card debt. Yet that's just what many retirees are doing--and what may be in store for you or a loved one--thanks to economic factors that are making it harder and harder for older Americans to make ends meet. Credit cards have become an expensive solution to the challenges of a fixed income, lagging investments, and rising medical and living expenses.

To help stay clear of credit card debt:

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Prescription Drug Patient Assistance Programs: How They Work and Who Qualifies

Almost all pharmaceutical companies have them, most doctors know about them, but relatively few eligible people take advantage of them. Prescription drug patient assistance programs help seniors and people who are uninsured or under-insured get the medication they need at little or no cost.

Although these programs are industry-wide, they all work differently. For example, almost all companies require paper applications, although a few accept telephone registrations. Some application forms are available online for download, but must still be typed or handwritten and mailed in. Some companies will preregister patients by phone and give temporary coverage to those who appear to qualify.

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Financial Discussions Between Adult Children and Aging Parents

Many aging parents hesitate to share vital information about financial affairs with their children. However, when aging parents become unable to make decisions, care for themselves, or die, adult children who are uninformed about their parents' possessions or desires will be ill-prepared to act on their parents' behalf. Initiate the discussion sooner rather than later.

If parents initiate the discussion, they should reassure the adult child that they are planning ahead rather than responding to a particular medical condition. When adult children initiate the conversation, they might open by discussing friends who have faced difficulties when their aging parents failed to plan ahead.

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