Extending Retirement Dollars

No one knows if they die tomorrow or live to be 100.   Regardless of how much you think you have saved for retirement, it is unlikely to be enough when assisted living costs about $5,000 a month !!!

The  Coming  Decades

Many of those already in retirement as well as those close to retiring are not particularly sanguine about their golden years.

Their greatest fear is the sudden loss of retirement income caused by : -

How  to  " Stretch  Out "  Your  Retirement  Dollars

Most retirement gurus maintain that you need about 80% of your pre-retirement income to live comfortably.

Others are of the opinion that if you have less than $200,000 in savings, you may want to consider postponing retirement because it's likely that you won't be able to generate enough income to cover inflation for a 30-year retirement even with 6 percent after-tax returns each year.

The bad news is that these days no one is able to earn 6 percent investment returns without undue risks. 

Baby boomers are particularly vulnerable. We should perhaps focus on how to network with like-minded folks to explore how to mitigate the negative impact of a debt-laden society.


Be realistic about whether you can afford the lifestyle you want in retirement.   We all dream of vacations and hobbies now that we are no longer working but we best make sure we have set aside funds for our needs later on.

Think outside the box ... Change your mindset and try out creative ways of taking your dream vacations without breaking your bank account.  Eliminate costly hotel accommodation by doing Home & Hospitality Exchanges.

Maybe we can discuss the pros and cons of shared transport, shared housing ( Golden Girls, Golden Guys, senior version of Three's Company ), rotational pot-luck parties etc.

Stay Healthy

Out-of-pocket medical expenses can eat away at your assets or income significantly as you get older.

The good news is that many of the most common conditions, including cardiovascular disease, diabetes and orthopedic ailments, are often preventable or manageable with proper diet and exercise.

In the end, a gym membership may provide a much greater return on your investment if it keeps you healthy and out of the hospital.

Social  Network

Medical science has shown that staying  socially connected  is critical as seniors age.  In today's internet age, you have an almost cost-free medium to stay in touch with family and friends, near and far, via Facebook, Skype and smart phones.

Facebook also hosts countless discussion groups.  I had in fact set up one for seniors at 


Type in "babyboomers888" in the search bar the next time you log on and join us.

Unfortunately, in today's world, even those who think they have saved enough may find themselves unexpectedly in dire straits by events outside of their control - hurricanes, fires, burglaries or worst of all, expensive life-threatening cancer.

Turbulent times are coming down the pipe regardless of who wins in November. It takes only one major medical issue to wreck one's retirement plans.  It might be smart to think about how you would change your lifestyle to adapt to a sudden loss of retirement income.

My motto used to be Remember Yesterday, Dream about Tomorrow but LIVE Today. I now believe it smarter to Hope for the Best but Be PREPARED for what may happen in the coming decades.


A dollar saved is a dollar earned.  It may be viable for some retirees to relocate from a tax unfriendly state to a tax friendly  one.

Below are the states which in 2016 don't have state income tax.

Aging in Place

Most of us are reluctant to think about really getting into our senior years.  However, ignoring the issue does not solve the problems of aging.

It pays to compile information long before you need it so you have the time and frame of mind to deliberate about your best course of action.

No one solution fits all as different strokes for different folks.  A  lot depends on your family dynamics, financial situation and personal preferences.

You may want to check out some thoughts I had comparing Aging in Place vs Assisted Living vs Continuing Care Retirement Community.

Finally, money is great but health is infinitely better. Stress is a KILLER so perhaps adjusting one's lifestyle may be a better choice than working till you drop.  Having a contingency plan for what you hope don't happen is an effective way to relieve your stress.

Many seniors love eating out as do my husband.  I feel however that a far healthier option is to go ballroom dancing as it offers a whole multitude of benefits physically, socially and emotionally!!!  The fact that a night out dancing at your local ballroom costs a fraction of dining out is  just a BONUS.

                                                                                        Co-Ownership  of  Retirement  Properties