So Baby Boomer: Life Tips

Exit Planning

A Baby Boomer, born in 1946, who retired in 2011 can expect to live about 18 to 19 more years; about 25% longer than their parents lived.  Men can expect to live to be 82 years old; women to be 84 years old.  While it is exciting to consider how these "added" years could be lived, it also creates a financial challenge. 

Longevity can be great--if you plan for it by asking yourself the question: What should I do with the rest of my life now?

Today, there are 22.7 million small to medium sized businesses in the United States.  The asset value of these businesses is estimated at over $100 trillion.  Among that group of asset owners are twelve million Baby Boomer owners who are hoping to transfer ownership in the next five to ten years.

Many owners dread the process of exit planning; they procrastinate or see it as a sign of growing old or going out to pasture.  As one owner said, "At least when you die, you don't have to think about what you are going to do the next day."

Exit planning makes a powerful difference in a successful ownership transfer, but only 13% of business owners have an exit strategy. 

Exit Signs by Pamela T. Dennis, PhD is an authoritative source for how to sell and leave a business for those who spent their lives building one.  It provides a rich roadmap toward the four goals business owners have when transferring ownership: a profitable sale, pride in leaving a sustainable business, a strong legacy, and a path forward.

Source: Pamela Dennis: Exit Signs: The Expressway to Selling Your Company with Pride and Profit

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Investors Bet on Housing Again (Just in Time for Another Implosion?)

By Elliott Wave International

The U.S. housing market may be about to implode -- again.

Before I get into the "why," know that the residential real estate market never fully recovered.

Annualized new home sales this past July stood at 507,000, vs. the July 2005 peak of 1.39 million. The chart and commentary from the August Elliott Wave Theorist offer:

The percentage of Americans who own a home is still plummeting despite the partial recovery in real estate prices. Today, the percentage of families owning homes in America has plunged to its lowest level in 48 years, nearly half a century. ... By saddling home-buyers with massive debts, the government has done the opposite of what it promised; it has ruined the American Dream for tens of millions of families. Now it's doing the same thing to education ... .

Yes, U.S. student loans amount to some $1.2 trillion. Yet the new on-campus trend is luxury student housing.

A few weeks ago, a friend showed me around the campus of a private university and I saw the upscale student apartments. Next to the apartments was even a bigger-than-usual Starbucks.

I thought the luxury student housing at this university might be unique.

Then I read that some property development companies are dedicated to high-end, urban-style student housing:

Landmark [Properties], like other student housing developers, is profiting from ever-growing demand ... . Landmark grew 40 percent even during the recession and is plowing ahead with several new projects.

The Standard, a high-security building [at the University of Georgia], offers students luxury apartments with granite countertops in the kitchen and en suite bathrooms for each bedroom. ... What really draws attention, though, are the added amenities. The pool, fitness center, saunas, game room with large-screen televisions and even a golf simulator.

CNBC, September 3

Here you have evidence of a bubble in both housing and education.

Reminders of the real estate boom days can also be found elsewhere. A headline (CNBC, September 10) says:

Investors snapping up new homes for rentals

Specifically, institutional investors are buying properties for real estate investment trusts.

Be wary of such investments: The May Elliott Wave Financial Forecast reveals why housing is probably headed for another crash:

New home sales generally fall in bear markets. With the added impetus of a brief deflation, home sales plunged dramatically in 2008/2009. The current recovery has barely managed to return sales to prior lows. After the major stock averages reverse and an even more aggressive bout of deflation takes hold, U.S. real estate will join a global decline that will be even more severe than the last one.

That's just the beginning of what's ahead for Real Estate. Want to read the full story? Check out the link below to get the entire August issue of Robert Prechter's Elliott Wave Theorist -- FREE

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Get the full story in Prechter's Theorist -- FREE If you invest in U.S. stocks, please stop what you're doing, sit down and pick up Robert Prechter's Aug. 19 investment forecast. Prechter published one of the most widely read investment letters of the 1980s, and he remains one of the most widely known market technicians in the world. On Aug. 19, before the latest spike in volatility, he warned of "pandemonium in the stock market" and a "stunning decline in US stock prices." Now you can read his complete, subscriber-level report that predicted what you see today. Click Here to Download Prechter's 10-Page Report Now - It's FREE >>

This article was syndicated by Elliott Wave International and was originally published under the headline (Video, 3:41 min.) Investors Bet on Housing Again (Just in Time for Another Implosion?). EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

 

U.S. Stocks: End of the Complacent Era?

Stock market bears have been conspicuously absent

By Elliott Wave International

Editor's note: You'll find the text version of the story below the video.

August 20 was the third consecutive down day for the Dow Industrials as the index tumbled 358 points.

The U.S. stock market had managed to hover near record highs, even as other markets (oil, precious metals, housing) had long since fallen from old highs. The 34-year bull market in 30-year U.S. government bonds ended months ago.

The prolonged optimism that created the Dow's biggest triple top in 150 years may finally be flagging. The just-published August Elliott Wave Theorist says "an era of complacency is about to come to an end."

Theorist subscribers are also reading about Fibonacci time and price relationships that appear to spell trouble for the Dow's six-plus year uptrend.

This chart from the June Elliott Wave Financial Forecast [wave labels available to subscribers] also anticipated the stock market's recent weakness:

Long-term bearishness is virtually absent. The chart shows a 30-week average of Investors Intelligence bears (inverted to align with prices) plotted beneath the Dow Jones Industrials back through 1966. Bearish advisors contracted to just 14.9% in late May, which is the lowest percentage of long-term bears since early 1977 ... .

In April, total assets in Rydex bear funds fell to $130.9 million, the lowest monthly level in 15 years.

Other indicators had reflected the market's deep complacency. The S&P 500 recently went 129 days without a single-session decline of 2% or more. And on June 19, the VIX open interest put / call ratio (indicates the ratio of investors' open option contracts betting on a VIX move) dropped to 0.248, its second lowest level since February 16, 2007.

On July 15, this headline published on NASDAQ.com:

Huge Second Half Rally Coming for Stocks

The August Financial Forecast provides another perspective on investor complacency:

In July, it reached a remarkable new extreme as bulls used complacency itself as another excuse to buy stocks. "The failure of the Greek standoff or the China stock market tumble to rupture global markets or drag down economic expectations has led to a rapid draining away of anxiety," says a major news site.

Sentiment extremes are important because markets tend to turn when most investors least expect it.

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Read Prechter's entire August Theorist -- FREE If you invest in U.S. stocks, please stop what you're doing, sit down and pick up Robert Prechter's Aug. 19 investment forecast. Prechter published one of the most widely read investment letters of the 1980s, and he remains one of the most widely known market technicians in the world. On Aug. 19, before the latest spike in volatility, he warned of "pandemonium in the stock market" and a "stunning decline in US stock prices." Now you can read his complete, subscriber-level report that predicted what you see today. Click Here to Download Prechter's 10-Page Report Now - It's FREE >>

This article was syndicated by Elliott Wave International and was originally published under the headline (Video, 3:11 min.) U.S. Stocks: End of the Complacent Era?. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Robert R. Prechter Jr.: Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression  - See more at: http://www.sobabyboomer.com/2015/08/china-first-freefall-then-panic-now-what.html

Reinvesting in the Workforce

As more and more Baby Boomers retire, its time for Corporate America to reinvest in its workforce and come up with creative ways to retain the massive amount of knowledge that will retire along with those born between the years of 1946 - 1964.

Years ago, employers were told to prepare for the mass exodus of talent and experience as baby boomers retired. (Back then, the biggest worry was that experienced managers would leave for a position at a competing company.) However, thanks to the recession, many Boomers delayed retirement and companies moved on to other issues.

Now though, Baby Boomers are moving on to retirement at a steady pace, leaving the market entirely, and companies seem unprepared for their absence.  With the average U.S. retirement age at 62 and the youngest boomers turning 51 this year, companies still have time to replenish talent and bridge the gaps in knowledge.

To transition talent into the workforce, it's important that companies use high-quality talent-based assessments to identify top performers. By understanding the specific talents of their most successful Baby Boomers, hiring strategies can be created to find candidates with the same talents.  

Companies can also track the experience of their top performers and look for candidates with similar experience, as well as provide employees with experiences to prepare the younger generations for the future.

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Life doesn't end with Dementia

There are 7.7 million new cases of dementia every year, according to the World Health Organization.  As the number of loved ones afflicted grows, it’s important to recognize ways to keep their lives fun.

96-year-old author and former Stanford professor John G. Gurley has spent years remaining faithful and loving to his dementia-afflicted wife.  He has focused his efforts in understanding how to make her life interesting and meaningful, and decided to write a series of books about his wife, culminating in “Even More Vignettes of Yvette at Vi”.

“So many people are affected by dementia around the world,” said Gurley.  “I face it every day with my wife, I love her, and even at my age I still do my best to keep her life meaningful, mentally and physically.”

Source: John G. Gurley: Even More Vignettes of Yvette at Vi

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Baby Boomers Finding Companionship and/or Romance

Every Baby Boomer knows someone who is 50+ and who is single; either because they have never been married, they became a widow or they divorced.

A new website named Stitch helps create companionships for the Baby Boomers, because everyone regardless of age could use some companionship. 

For more on Stitch click here for a short YouTube movie. 

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Date Again After a Spouse Dies

 The decision to move on and find a new partner after the death of a beloved spouse is emotionally wrenching and deeply personal. It’s a choice many of us will face.

Some people, even after a happy marriage, start looking for a new mate fairly soon. Others choose to remain single. There’s no right or wrong decision.

And then there’s the guilt. “When someone you love has died, “you still love them,” says Becky Aikman, author of “Saturday Night Widows,” a memoir about how research findings on grief helped her move on after the death of her husband.

Researchers have found people who remarry after a spouse’s death report less depression and a greater sense of well-being and life satisfaction than those who don’t remarry, says Camille Wortman, professor of psychology at Stony Brook University, in New York, whose research focuses on grief.

“Men lose more when a spouse dies,” says Dr. Wortman. Wives often watch over their husbands’ health and tend to take care of more of the housework. Because men often have fewer friends than women, wives are typically their husbands’ main social and emotional outlet.

Over the years, various studies have shown men are more likely to seek out a new relationship, and to do it sooner, than women, Dr. Wortman says. She offers findings from various studies: In the first year after a spouse’s death, 54% of men have a sexual relationship, compared with 7% of women. By 25 months after a spouse’s death, 61% of men had a new relationship, versus 19% of women, and 25% of men had remarried, versus 5% of women.

Men have more opportunity. Because women live longer, widows outnumber widowers. Yet men who are most likely to look for a new mate were more emotionally reliant on their partner, Dr. Wortman says.

For a woman, though, the more emotionally reliant she was on her husband, the less interest she has in finding a new mate, research shows.

“They don’t want to replace him,” Dr. Wortman says. Studies show widows also are wary of losing their freedom and having to care for another husband.

Find Your Own Way

Wondering if it’s time to move on after losing your spouse? Here are some points to keep in mind from Terri Orbuch, social psychologist, research professor at the University of Michigan’s Institute for Social Research and author of “Finding Love Again: 6 Simple Steps to a New and Happy Relationship.”:

• There is no set timeline for moving on. Some people need a lot of time to grieve. Others are ready to date pretty soon. Only you will know what is right for you.
• Ask yourself: Am I ready to trust somebody again? And am I ready to care about another partner?
• Your children may not be thrilled that you want to meet someone. But if you’re happy and balanced, you’ll be a better role model and a happier person overall. Talk to your children, no matter their age. Tell them why you are dating. Explain no one will ever replace their other parent. Reassure them that you will be safe and cautious.
• You don’t have to let go of your positive feelings about your spouse and marriage. You aren’t looking to replace that person. Your spouse was unique. If you take that as a given, you can move forward.
• Cope with the loss itself: Talk with others. Join a support group. Join a special activity group to meet others and do things that matter to you.
• Stay hopeful and optimistic. Remember, you can and will find love again. You are never too old. Don’t let yourself feel pressured to make decisions you aren’t comfortable with.
• We change our values and needs as time goes on, and especially after the loss of a spouse. Identify your needs and desires, and what values are important to you. Identify what you want in a new mate.
• Think about what you liked and disliked in your first partner to help define what you want. If you know what you are looking for, you’ll be more likely to find that person.

Sources: The Wall Street Journal, November 18, 2014, Becky Aikman, author of “Saturday Night Widows,” and Terri Orbuch: Finding Love Again: 6 Simple Steps to a New and Happy Relationship

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RV Snowbirds Heading South

Senior RV Travel America Dream Come True Comes with Mosquitos and Mechanics  

Like many a retired couple, Jo Ann Bender and her husband Skipper thought it would be a grand adventure and a dream come true.  So they upgraded the interior of a $7,000, 1973 Ford motor home and spent $3,000 in repairs hoping that would be sufficient to fix the engine and they hit the road. 

In her new book Snowbirds, Jo An Bender shares what happened to them on their 2,000 mile trip from Spokane to Texas.  

Instead of enjoying the wonders of nature and the exploring the scenery in the parks, it turned into a nightmare of breakdowns by the side of the road, and hours searching for, finding, and then getting help from mechanics everywhere along the route.  

They learn new skills as navigators and mechanics as they plow joyfully ahead with their cantankerous little motorhome looking for free parking. The challenges are aplenty as they head to hot springs, Indian ruins, Western Forts, the Marfa Lights, and a Mariachi Mass at a San Antonio Mission. 

And along the way, Jo Ann records her experiences and the many discoveries she and Skipper make during the course of their journey. Here’s a sample: 

“As we drove down the lonely highway, a tape played, and I heard the words, “Fill your dreams with sweet tomorrows,” and I started to glow all over. I wondered what time it had gotten to be and notice that I was not wearing my watch.   

Discovery No. 1:  I didn’t care.  Deadlines were part of another world.  What were the parameters of that “other world”? Minute-to-minute timing to match time with goals.  Pressure to meet deadlines.  Always planning more activities than could genuinely be experienced. 

Discovery No. 2:  I felt a sense of rightness of journeying on a predestinated path.  Th e inner spirit seemed to be shining, a feeling that the soul was being bathed in the waters it sought. Tears glistened.” 

The couple’s two month semi-business trip required $2,000 a month for fuel, food, camping and $1,500 for repairs.  This was less than they would have had to pay at home during the two highest months of utility bills.  Insurance of the car left at home was lessened by being “on vacation.” 

Snowbirds is a delightful guide to anyone who dreams of taking on such an adventure, although maybe not in a vintage motorhome.  It’s packed full of insights and how to do things that need to be done safely on and off the road, what provisions to take and how to pack so everything has a definite spot and can be found again.  

One of major problems with life in an RV.  Things have a way of disappearing that become a waste of energy, frustration and loss of good feelings. 

Discovery No. 7:  When you’re on the road, it’s difficult to do more than get from one destination to another, especially when weather conditions make driving hazardous.  Road Gods must be similar to River Gods:  they like to claim something for themselves. In Portland, it was a turtleneck left in a dryer. 

A RV brings out the best and the worst in personal relationships.  Small spaces are ideal for some couples.  For others, even with outdoor living possible under awnings, there is nowhere to get away from each other.  As Skipper points out at one point in frustration, “There’s no place to have a good fight in such a small space.”  

Discovery No. 8: Indispensable Items for a Snowbird trip 

1. The trip log with tickler notes

2. Frozen, easy-to-cook meals, prepared at home and packaged in freezer bags, laid flat

3. A map for each state

4. Baggies

5. New wiper blades

6. Bathrobes and slippers

7. Gifts representing our state (potatoes, apples, handmade items, the cookbook we wrote)

8. Easy-going companion with a sense of humor

9. Tool kit with wrenches, sockets

10. Rolls of quarters for laundry, tolls, phone calls, gambling (minimum of sixty dollars in cash for each day we’ll be on the road for groceries, attractions, and cash-only service stations)

11. Flashlight for each occupant, plus one spare for the person who can’t find theirs

12. Flood lamp 

The Best Part of the Trip.  The RV world is vast.  It is as beautiful and challenging as this wonderful world we call home – the U.S. of A.  We went off to explore parts of it and returned feeling the responsibility and privileges of being a citizen. 

Discovery No. 16: Buy a motor home but buy one you can afford so you can love—not resent—it.  

When we viewed and drove miles of golden lands, we thanked our country for the good roads which allowed us the opportunity at little cost to explore so we could meet diverse people and savor foods and other lifestyles. 

Discovery No. 17:  Repeat Discovery No. 16.  Buy what you can afford without hurting your quality of life, and it will be the best decision you ever made.

Source: "Snowbirds" by Jo An Bender

Leadership in the Recreation Vehicle Industry Association (RVIA)

Ready to Walk Away?

When it comes to your work, is it time to move on?

Millions of Americans in their 50s and 60s are delaying retirement and holding on to jobs they have done for years. Many, of course, need the money. But many others say they simply enjoy—even love—what they do. And if that’s the case, why not stay?

The answer: Because jumping ship—even if jumping would seem to make little sense—could be the best way to remain productive, happy and healthy into old age.

The phenomenon of delayed retirement is well documented. Average retirement ages are climbing, and nearly half of baby boomers say they expect to work until age 66 or beyond, according to Gallup Inc. polls.

For the most part, that’s good news, according to academics and financial and health-care professionals. Continuing to work in some fashion as we age can benefit mind and body, as well as beef up undersized nest eggs.

 Tough Questions

But these same experts, and many older adults themselves, are discovering a downside to remaining at the same desk year after year—a tendency toward complacency, coupled with a reluctance to ask tough questions.

For example: Am I working because I truly love what I do, or am I simply afraid of change? Do the best and brightest staffers want to work with me, or do they see better opportunities elsewhere? Am I continuing to learn something new about my work and myself, or am I plowing the same ground again and again?

“Especially if you have been successful at what you have been doing, you start repeating yourself,” says Sherry Lansing, age 70, who walked away from a job she loved as chief executive of Paramount Pictures’ Motion Picture Group and now runs a foundation.     

“You have done it and you know how to do it, and that’s comforting. But if you repeat yourself, the highs aren’t as high and the lows aren’t as low, and you start to lose that passion.”

Source: The Wall Street Journal, October 13, 2014

 

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Boomers' Retirement Puzzle

 Retirement can be the best time of your life, but for couples, there's far more to it than cashing in your 401(k).

The most important asset you have during your retirement is each other, yet many couples aren't sure where to begin or what to consider as they prepare for retired life.

Women, more than men, can have difficulty thinking about "24/7" with a partner, particularly if home is their domain.  Balancing independence and intimacy can be challenging in retirement transition, especially if one partner wants more time together and the other needs more space.

Sometimes couples look back on the early stages of their relationship and wonder what happened to the passion and unending hours together. 

Being in love is a wonderful place to be, but real-life responsibilities eventually take over, and the demands of work and family often take priority over the relationship.  As time goes by and responsibilities grow, many couples find that they don't have much time to spend with each other except for weekends and vacations, and even then, there may be limits on their time together.

Filled with smart and practical advice, engaging anecdotes, and helpful exercises, "The Couple's Retirement Puzzle" will guide you and your partner to a fulfilling retirement you can enjoy and celebrate together.

Source: Roberta Taylor: The Couple's Retirement Puzzle: 10 Must-Have Conversations for Creating an Amazing New Life Together

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