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6 Signs It’s Time to Retire

January 3, 2024 By Leave a Comment

There comes a time when most workers begin to consider retirement. Today’s economy may make it impossible to consider reducing your regular income. But, as you age, health and family obligations may cause you to feel as though retirement is inevitable. Here are some signs it may be the right time for you to stop working:

1. When You No Longer Love Your Job

Your job may be your means of support, but it should also be something you love. When you’ve been in the same field for several decades, you may feel it’s lost its luster. According to Gartner, a motivational employee recognition plan can inspire an increase of over 11% in employee performance. If such an enticement no longer holds any lure for you, it might be time for you to stop working.

2. When You Have Enough Money to Stop Working

Not everyone can say they’ve made enough money to stop working, but if you have, it may confirm your idea that it’s time to retire. According to CNBC, you should, ideally, have saved 10 times your annual salary by age 67. The same source provides an alternative of having enough to live on 4% of your savings for each year of your retirement. Look ahead to the future, predict how much you need to live on, and then decide if your funds are enough to allow you to retire.

3. When Your Health Prevents You From Working

When your body grows older, you can develop chronic health conditions. These conditions can also make you more prone to injury. According to the U.S. Bureau of Labor Statistics, the year 2021 resulted in over 2 million injuries being sustained at work. If those chronic conditions or the results of your injuries make it more difficult for you to do your job, retirement can be the obvious next step.

4. When You’re Ready for the Next Chapter of Your Life

As you look at your coworkers, and see them effortlessly master technology while you struggle to keep up, it may seem like your role at your company may soon be obsolete. Other employees your age may have already retired, and you may be envious of their new freedom. You may also have new grandchildren you’d like to spend more time with. Your “second chapter” may be beckoning, so it may be time for your first chapter to close.

5. When You Qualify for Social Security or SSI

If you were born after 1960, 67 is the age for full retirement. If you were born before then, the retirement age is younger. If you are 65 years old with a low income, you may be entitled to SSI benefits – just as you would if you were blind or disabled. If either or both of those income sources are available for you, this may confirm your feeling about the need to retire.

6. When the Majority of Your Debts are Paid Off

One reason many people near retirement age continue working may be to pay off debts. Trying to pay debts with the reduced income of a retiree might be too difficult to handle. If necessary, consider a debt consolidation loan while you’re still working and can pay it off. By the time you reach retirement age, you have probably also paid off your mortgage – making it possible to survive living on your social security income.

Keep in mind that when you finally close the door on your working life, it will be an adjustment for you. Some retirees may not realize – until retirement – the extent to which their jobs have become their identity until they retire. The sharp drop in income may also impact you to a greater extent than what you’d expected. If you have a financial advisor, you might ask them to help you determine your readiness for retirement.

Filed Under: Savings

How to Choose a Property in Michigan When You’re Retiring

December 27, 2023 By Leave a Comment

If you’re thinking about retiring, or the speedy passage of time has prompted you to make the best plans, it’s important to work out a solution to get out of debt. Doing this can make it easier for you to do things such as pick the right property. If you intend to retire in Michigan, here are some of the ways in which you can choose the right property so that you get the best outcome.

Consider Safety

The first thing that you ought to think about is the safety of the area to which you’d like to relocate. This way, you’re likely to find a property that’s going to be safe for you to retire in. There are many areas in Michigan where you can live, so think about the safety standards in the various places. Remember as well to find out the details of the legal system in general so that you know what to expect. For instance, you can learn that the law in Michigan views misdemeanors as low-level criminal offenses, but many can be tried as felonies, including DUIs, drug offenses, and violent crimes.

Think of the Location

Next, think of the ideal location to which you’d like to retire. Think about the details of various locations, including the layout of towns, distance to amenities, and even the kind of social life that you can have access to. If you don’t intend to be among the 70% of people who need assisted living care during their lifetime, you’re going to have to think about many details. This is because you’re going to need to be responsible for the various details of your life that would otherwise have been taken care of by a facility, and it’s important to make sure that they’re as per your standards.

Weigh the Cost of Living

Remember that the cost of living in the area that you’d like to retire should match your finances, otherwise, you may end up in a mess and rack up debt. This makes it important for you to make sure that you’re comfortable with the cost of living in terms of food and other basic needs. Even health care and social activities could end up being a nightmare for you if you’re not careful, so make sure that you know all about these. It’s best to pick a place that will be affordable enough to give you the chance to enjoy your life to the fullest in retirement.

Don’t Forget to Consider the Size of the Ideal House

Last but not least, don’t forget to consider the size of the house that you feel would be ideal for you. In retirement, there’s no need to find a place with excessive space in it, especially if you’re going to wind up living by yourself. That said, don’t pick an area whose spaces in general are too small to be comfortable for you. This is because the typical American, according to the American Lung Association, spends an average of 90% of their time indoors. With this in mind, you don’t want to be stuck in a house that’s uncomfortable for you at a time when it’s not easy for you to move around as you please. Note that the perfect house for retirement also needs to have considerations for accessibility, including ramps, low-rise toilets, and even grab bars at strategic points throughout the house.

Use these tips to help you choose the best property in Michigan when you’re retiring. Doing so can go a long way towards helping you avoid a rush at a time when you’re not ready for the hassle. By starting your search early, you also have a great chance to understand what’s available to choose from so that you adjust your expectations accordingly.

Filed Under: Spending

How to Recover From an Intense Knee Surgery

December 18, 2023 By Leave a Comment

Recovering from intense knee surgery can be a serious matter, especially if you are older when you’ve undergone the procedure. Whether you have recently had serious knee surgery or a complete knee replacement, there are a few tips to remember during the healing process. The more you pay attention to your body’s signs and needs, the easier it will be for you to determine what it needs to make a complete recovery in a short time.

Listen to Your Doctor’s Advice

Always make sure you find the best doctor whenever you need intense knee surgery, regardless of the condition you may be experiencing at the time. It is estimated that approximately 4,000 surgical errors occur in the U.S. on an annual basis, according to Wilson & McQueen PLLC. Once you find the best doctor who is most qualified to take on your knee surgery, it’s important to listen to their advice, especially when it comes time to recover and heal.

Ensure You Get Adequate Rest Each Night

While you are recovering from intense knee surgery, you will want to ensure you are getting adequate rest each night. Sleeping well each night can fast-track your ability to heal, regardless of the type of knee surgery you’ve recently undergone. Without proper sleep each night, you may find that the healing process has slowed or, in some cases, even come to a halt, depending on your age and the current strength of your immune system.

Walk Frequently When the Time is Right

Once you have permission from your doctor or physical therapist, you will want to walk frequently to prevent your muscles from atrophying, even as you are recovering. While you may require a few days of rest, walking will keep your muscles limber as you recover. Always consult with your doctor before you begin walking after any knee surgery.

Eat a Healthy and Anti-Inflammatory Diet

After any type of knee surgery, you will want to ensure you’re consuming a healthy and anti-inflammatory diet. Stick to healthy meats, fish, nuts, seeds, and vegetables while recovering. Avoid processed foods or eating fast foods, as these can lead to increased inflammation throughout the body.

Attend Physical Therapy if Necessary

Approximately 90% of all patients who undergo knee replacement surgery experience a significant reduction in pain, according to the AAOS, or the American Academy of Orthopedic Surgeons. However, surgery alone is not always the only requirement for a complete recovery. In many instances, patients will also need to attend physical therapy or occupational therapy sessions while they are in the process of recovering, especially after intense knee surgery, such as a complete replacement.

Recover Using the Right Treatments

In 2018, it was reported that approximately 67% of all doctors in the U.S. approved of the use of marijuana medicinally. Today, it is also estimated that 85% of adult Americans also approve of the use of medical marijuana. When you are recovering from intense knee surgery, and you do not want to utilize pharmaceuticals, such as painkillers that include opioids, you may want to consider alternative treatment options, such as medical marijuana.

If you are concerned about taking on new debt, and you want to minimize the potential risks and side effects of traditional medications, speak to your doctor. Speaking to your doctor can help determine which course of action is right for you. You can also determine if marijuana may be the alternate route that is optimal for your needs at the time.

Knowing what will be necessary to recover from intense knee surgery is essential before going under the knife. Even if you have had surgery in the past, it’s important to know what to expect if your knee recovery may cause you to be immobilized for any extended time. Because knee surgery can be extremely intense, the more prepared you are, the less likely you are to find yourself overwhelmed when you are experiencing the healing process.

Filed Under: Life Lesson

5 Reasons to Vacation in Dubai in 2024

December 15, 2023 By Leave a Comment

If you’re wondering about where to spend your next holiday, Dubai is a great place to consider. The best part about holidaying in Dubai is that you don’t have to rack up debt as it’s not the most expensive place that you could head for vacation. Keep reading to see five reasons why vacationing in Dubai could be one of the best things that you do, leaving you with amazing memories when all is said and done.

1. There’s Plenty of Art to Enjoy

If you have a taste for art, you’ll be glad to learn that there’s actually a budding art scene in Dubai. There are various contemporary galleries in both Modern and Old Dubai, and you can be sure that the exhibitions are amazing. There’s also no doubt about the fact that the architecture is impressive since this is one of the things that Dubai is famous for, after all. You may even get to learn about interesting things in one of the museums, such as that the first recorded use of asphalt to construct roads was in 625 B. C. in Babylon, according to the Asphalt Paving Association of New Mexico

2. You’ll Also Have Access to Fitness and Health

Wellness is also becoming a more welcome idea in Dubai, with a number of health and wellness opportunities coming up on a regular basis every year. That said, you can pair fitness sessions during your stay in Dubai with a medical treatment that you undergo, which you can choose to get done by one of the professionals in the country as well. Do your due diligence in this case to make sure that you pick the best doctor for the job. This is because every year in the United States, between 15,000 and 19,000 medical malpractice suits are filed, according to Medical News Today.

3. There’s Impressive Diversity

Whether you want to spend a day in the desert and enjoy an amazing view of the night sky later on, or you’d prefer to go skiing indoors, you can find the perfect spot in Dubai. The fact that there are over 400 million entrepreneurs around the world implies that there are many of them in Dubai. Many enough to create an attraction for people with varying tastes and preferences, so you simply need to look around, and you may find something worth enjoying.

4. It’s Amazing for the Foodies

If you’re a foodie, then don’t hesitate to add Dubai to your bucket list. That’s because there are ex-pats from all over the world in Dubai, and one of the imports that they bring with them is food variety. From Thai and Pakistani restaurants to Indian and Lebanese eateries, you can find them all in Dubai. Whether you want to experience street food or enjoy fine dining, you can have it all in Dubai, you simply need to plan for a food tour so that you hit as many food spots as possible.

5. The Desert Offers Impressive Experiences

Finally, you’d be forgiven if you imagined that all you’d find in the desert is endless sand dunes, with even the animals that live out there hiding from the sun and staying out of your sight. This would be wrong, however, since you can find flower gardens, impressive sculptures, and even gorgeous beaches with a host of attractions. Whether it’s during the day or the night, you’re sure to find something amazing to add to your experiences in Dubai, and you don’t even have to spend too much money.

These five reasons should give you an idea of the enjoyment that you can get in Dubai. No matter what your tastes and ideas of fun are, you can find a dose of it in Dubai. Remember to make good plans so that you don’t end up in debt, since there’s simply so much to do!

Filed Under: Spending
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