by Joe Hearn | Sep 7, 2012 | Retirement
Earlier this week I noticed that the post counter in my blogging software was about to hit 100.
Since that seemed like something of a milestone, I thought I’d take a quick look back and give you what I think are 10 key posts from the first 100. For those of you who have been with me since the beginning, it will be a good review. For those of you who found us more recently, it will be a chance to read something that you may have missed.
Visit the Archives Page to scroll through the entire list of articles. Also, if you read something that is helpful or encouraging to you, pass it on to a friend. Great ideas spread thanks to people like you.
Thanks for reading. On to the next 100.
~ Joe
by Joe Hearn | Sep 4, 2012 | Health
“Stuff You Should Know” is one of my favorite podcasts. Hosted by Josh Clark and Chuck Bryant, the show educates you on the basics of just about any topic in around 30 minutes.
I was listening to the episode on coffee recently when Josh mentioned that one of the side effects of a good cup of Joe is that it can help reduce your risk of Alzheimer’s disease.
As I’m sure you know, Alzheimer’s is one of those nasty diseases where we don’t really understand the cause and there is no cure. One in 8 older Americans has Alzheimer’s and it’s the sixth leading cause of death in the United States.
Nothing can ruin retirement faster than a fatal diagnosis, so if there’s something I can do to minimize my chances of getting an incurable, brain-wasting disease, I’m all ears.
While there is no silver bullet, foods that are high in certain vitamins (B, C, D, and E), antioxidants, monounsaturated fats and Omega 3s have all shown some effectiveness in minimizing the risk of Alzheimer’s. Here are some things to add to your diet from each category:
Foods high in antioxidants and/or Vitamins B, C, D, E,
- Beans
- Citrus
- Blueberries, raspberries and strawberries
- Artichokes
- Spinach
- Broccoli
- Coffee
Monounsaturated Fats
- Macadamia nuts
- Almonds
- Avocados
- Olive oil
Omega 3s
- Fish (e.g. Salmon)
- Chia seeds
- Flaxseed
Eat up!
~ Joe
Disclaimer: As you no doubt already know, I’m not a doctor. Take any health advice I have to give with a grain of salt (unless of course you have high blood pressure).
by Joe Hearn | Aug 30, 2012 | Pursuits, Retirement
A major problem I have with how retirement is currently practiced in America is that it doesn’t give you enough time.
If you retire at 65 and stay healthy and active until 75 (a stretch for many), then you’ve got 10 years to do everything you’ve been putting off for the last 40. To be blunt, 10 years is not enough.
How can we deal with that problem? The most obvious solution is to start retirement sooner. We don’t do this, though, because in our minds we’ve coupled retirement activities with age, work status, and assets. If we haven’t saved enough or we’re still working, then our dreams stay on the drawing board.
I’m putting the finishing touches on a free guide (you’ll be the first to see it) that will show you how to re-imagine retirement and jettison the idea that it can only start after the retirement party. The guide will be ready soon, but for now, I thought I’d point you to a few articles from the IR Archives that address this issue.
We have quite a few new readers since our London Calling article got exposure on the front pages at Yahoo and MarketWatch, so to many of you the above articles will be new. For the rest of you they’re a good reminder.
Spend a few minutes reading them and then ask yourself this question: “What is one thing that I’ve always wanted to do in retirement that I can actually start doing now?” Maybe there’s something you’ve always wanted to learn or a trip you’ve always wanted to take. There are four months left in 2012. Set a goal to do that one thing before we ring in the New Year. Then once you’ve done it, set a goal to do something else. Why save the best things in life until the very end?
~Joe
by Joe Hearn | Aug 27, 2012 | Happiness, Pursuits, Retirement
When talking with clients about retirement, I almost always hear some variation of the following sentence: “I just want to be happy.”
The more I heard the “H” word, the more I asked myself “What actually makes us happy?”
There’s certainly no single answer to that question. In fact, the answers seem limitless. Not only that, but we don’t seem particularly good at knowing what will make us happy. The things we choose—say, money for example—often provide a short-term, fleeting sense of pleasure rather than a deep, abiding sense of happiness.
With that said, I decided to do a series of posts (300 should do the trick :)) on well researched, quantifiable things that have been proven to make us happy. When I come across a particular fact, idea or action that is likely to make us happy, I’ll write about it.
Happiness Principle #1: Balance Pleasures and Comforts
In his book The Joyless Economy, Tibor Scitovsky argues that there are two kinds of potential experiences in life: pleasures and comforts. By pleasures he means risks or pursuits. These are the new experiences in our lives. The things that get us out of our comfort zone and stimulate our minds. Pleasures include things like meeting someone new, exploring an unfamiliar city, ordering something new off the menu or learning a new hobby or skill.
“A ship is safe in harbor, but that’s not what ships are for.”
~William Shedd
Then there are comforts. These are the things that we know and are used to. They’re safe and predictable. They provide stability. Comforts are things like our home, family, longtime friends and the job we’ve had for years.
“Be sure you put your feet in the right place, then stand firm.”
~Abraham Lincoln
Every day, we’re presented with choices between pleasures and comforts. Left to our own devices we tend to choose comforts. In fact, many times we’re so reluctant to embrace the unknown that we will choose unhappiness over uncertainty. We’ll persist in a bad job or a bad relationship, simply because we’re afraid of what would happen if we didn’t.
Not surprisingly, Scitovsky argues that finding balance between pleasures and comforts will ultimately make us happier than if we have a lopsided tendency toward only one.
Choosing the safe, predictable path (comforts) too often will leave you feeling unchallenged, uninspired and bored. Always taking the risk and stepping outside your comfort zone (pleasures), however, can leave you feeling stressed and unmoored. The key is to find a balance.
So how do we apply this to life and retirement? I certainly don’t have all the answers, but what I have tried to do is lay a solid foundation of comforts that give my family a sense of stability. Our home is not opulent, but it’s comfortable and meets our needs. We have great friends, a church where we feel connected and our daughter is in a good school. In addition, we’ve tried to manage our finances in such a way that we’re not always stressed about money.
What those things do is provide a sort of safety net so we can feel more comfortable (and sure footed) when taking a risk and pursuing pleasures. If we take a risk and it doesn’t work out, the foundation is still there. We can travel and know that we have a warm bed to go home to. We can go back to school (as my wife is doing now) or learn a new skill without feeling like we’re out-punting our coverage. Our daughter can join the soccer team or take up piano lessons and know that she can crash and burn and still have a family that loves her.
How about you? How are you doing balancing pleasures and comforts? Is there an area in your life where you’ve gotten too comfortable and you know it’s time for a change? Has the dogged pursuit of something left you feeling like you’re on shifting sand? If so, spend some time this week thinking about balance and you’ll be well on your way to achieving the happiness that we all look for.
~Joe
by Joe Hearn | Aug 22, 2012 | Income, Retirement
A common rule of thumb is that you can live in retirement on about 70 percent of your pre-retirement income. Should you bank on that? Will you really spend less in retirement? Well, I’ve got good news and bad news.
The good news is, yes, you will spend less in retirement. The bad news? Most people spend less because they have less to spend, not because they couldn’t use the extra income.
Even with the house paid off and outlays on things like work clothes a thing of the past, many retirees still spend the same or more (especially during the first 10 years of retirement) because other expenses go up. Two categories that often increase dramatically are: 1) Travel and recreation and 2) Health care.
So as you plan for retirement, don’t put too much stock in generalities or rules of thumb. Think about what you actually want to do during those years and what your expenses are likely to be. Then put together a well thought out budget that realistically matches those expenses with the necessary income.
~Joe
