August 6, 2019

5 Low-Stress Tips for Managing Your Finances After Retirement

Filed under: Financial Planning,Retirement Planning — Tags: , , — seniorlivingguide @ 4:21 pm

Low Stress Retirementby Anita Ginsburg 

Making the transition from being an employee to living on a fixed income as a retiree is a difficult process for many people, and that is why you need to take a look at your financial future well before your last day of work. With the proper financial plan in place and a little bit of foresight, you will be able to avoid some of the most common mistakes that retirees make.

Come Up with a Detailed Budget

Many experts agree that writing out a comprehensive budget is one of the most important steps in this process. You won’t be able to properly manage your finances after you retire if you don’t track all of your expenses and sources of income. Once you have a budget, it will be much easier to live within your means.

Establish an Emergency Fund

There are quite a few reasons why a retired individual should set up an emergency fund. As you grow older, you might have to deal with a wide array of serious medical issues, and treating those conditions is going to add up. Even if you have excellent insurance, paying the deductible could still be quite costly. You could also experience other common mishaps such as burst pipes in your home or emergency repairs for a vehicle.

Double-Check All of Your Insurance Policies

At least once a year, you should take a look at all of your insurance policies to make sure that you have adequate coverage. Your insurance needs are constantly going to change, and having the right coverage could help you avoid a few major headaches. In addition to health insurance and your homeowner’s policy, you might also want to consider coverage for potential end-of-life expenses and funeral costs.

Explore Financial Assistance Programs

There are hundreds of financial assistance programs for seniors, and signing up for those programs could save you huge sums of money. Many state governments offer financial assistance to seniors for basic expenses such as groceries and utility bills. You might even be eligible for discounted home upgrades like solar panels or a tankless water heater.

Downgrade Whenever Possible

As you grow older, you will probably be able to downgrade quite a bit without altering your lifestyle too much. Instead of leasing a brand new car, you should consider purchasing a reliable used vehicle with excellent safety ratings. Many retirees also sell or rent out their larger homes and move into smaller condos.

Planning out your finances for your retirement years might seem like a stressful task, but that extra work is going to pay off in the end. These few tips will allow you to enjoy your retirement years instead of constantly worrying about money and unexpected expenses.

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June 3, 2019

9 Ways for Seniors to Make Money Online Part-Time

Filed under: Boomer,Retirement Planning,Seniors — Tags: , — seniorlivingguide @ 9:08 am

Courtesy of Chloe Bennet, a career blogger at Assignment help Australia and Sociology help Australia, websites that provide resume and business writing help. Also, she teaches public speaking and online course creation at Paper Fellows portal.

9 Ways for Seniors to Make Money Online Part-Time

If you’re a senior looking for an online part-time job, you are not alone. Many seniors are looking for ways to make some extra money or even just to stay busy in retirement. The internet has created many opportunities for freelance work. Here are nine ways for seniors to make money online part-time.

Use your skills

One easy way for seniors to make money is by simply using the skills they employed while in the workforce. Only this time you get to be your own boss and work online on your own terms. Use the lessons you learned while you were an employee to build a successful online business. You can also use those same skills as a freelancer on sites such as Freelancer, Guru, and Snag Jobs.

Online tutor

If you have experience teaching or tutoring experience, then why not make some money tutoring online? Even if you don’t have that kind of experience, if you have an area of expertise then it’s worth giving it a try. Tutoring online is a great way to be social and meet some nice new people while you’re earning money. You can find work doing online tutoring at sites such as Essay Helper and Chemistry Writing.

Sales and marketing manager

There are tons of freelance opportunities for seniors who have experience selling products and managing clients. If you have communications experience and can adapt to the new digital and social media aspects of marketing, then this could be a great job for you. The best way for you to find this kind of work is through your own professional networks. Sell yourself, your experience, and how you can benefit your potential clients and you will find plenty of jobs.

Academic writer

Do you have an academic background? You can use your knowledge and experience to make money online as an academic writer. Make some good money and keep your mind extra sharp by writing paper and essays. You can look for academic writing jobs at places such as College Paper Writing Service and History Help.

Passive income

Passive income has a bit of a tarnished reputation and many people are skeptical about the idea. But there are many legitimate ways of creating passive income and you can start before you retire. There are companies where you can earn this money without needing to join anything or aggressively market to people. Be smart and find someone with a promising marketing tree and then try and position yourself at the top of it. As long as the company exists, your tree will grow and so will your passive income.

Accounting

If you were in accounting or tax consulting before retirement, that is something you can continue with on a freelance online basis. Keep your eyes open for people looking for tax help during the busy season. One segment to pay attention to is small business owners looking for someone to help them balance their books. These interactions can lead to further opportunities such as consulting for them on all kinds of financial subjects.

Blogger

Blogging is a fun and creative way for seniors to make extra cash online. You can blog about anything you want. Some of the best blogs are about niche topics like homebrewing or model trains. But you can successfully blog about anything if you have an interesting personality and a writing style to match. Look for blogging jobs at sites like Academized.

Web developer

Information technology is a large part of the economy, so there are many seniors with experience in jobs such as web development. But how many of them have considered web developing as freelancer in retirement? Some of the tools and technology have changed, but if you’re willing to learn there is work for you as a developer. Besides, updating your skills and learning is a great way to keep your mind sharp and focused. You can find work on tasks such as technical support for businesses that are too small to maintain a full-time IT person. Oh, and did we mention you can do it from the comfort of your own home?

Publish your own ebook

If you enjoy writing, there’s a good chance you’ve thought about writing a book. Very few people actually follow through on this dream, but retirement gives you the time to do it and earn some money while you’re at it. Maybe you’ve been blogging about something for years and consider yourself a bit of an expert. Why not compile all those posts, polish them a bit, and turn them into an ebook that you can earn some passive income from?

Conclusion

The internet offers many opportunities for seniors to earn money working freelance and part-time. Many seniors can make money online using the same skills and knowledge they used in their career.

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