Today’s retirees aren’t about turning in their briefcases for a rocking chair. Today’s seniors are active and rearing to go! Many retired people turn to the great outdoors for their R&R. What could be better than an outdoor adventure just about anywhere on this beautiful planet? 

If you are ready to plan your next adventure consider booking an outing at one of the following states.

Arizona 

Arizona has everything you need for your next outdoor adventure. With its rugged terrain, red cliffs, and towering mountains there is something there for everyone. Explore Arizona’s other-worldly terrain at the Petrified Forest National Park. Satisfy your inner historian at one of Arizona’s many Native American cliff dwellings or ruins. 

Take a jeep tour or horseback trip through the awe-inspiring red rocks of the Sedona cliffs. And of course, let’s not forget the Grand Canyon. The Grand Canyon offers incredible views, hikes, and white water rafting. 

Montana

Few places in the United States can compare to Montana when it comes to wild, uncharted wilderness untouched by human development. Experience some of the best skiing in the country at Big Sky Resort. Explore the crystal clear waters and majestic peaks of Glacier National Park. 

Take a guided tour through Montana’s vast network of limestone caves at Lewis and Clark Caverns State Park. Book awhitewater rafting trip down one of Montana’s many beautiful and exciting rivers. If you’re new to river rafting, the Upper Missouri River is ideal because there are no rapids.

California

California is far more than Hollywood and Theme Parks. It is also home to some of the most rugged, diverse, breathtaking landscapes in the world. If you haven’t been to Yosemite National Park, that’s definitely one for the bucket list. Enjoy the sparkling river, magnificent waterfalls, and lush flora of the lower valley one day and head up into the sheer granite cliffs the next. If you’re feeling especially adventurous you can apply for a permit to hike theworld-famous Half Dome. Few states offer the chance to ski in the morning, play a round of golf in the afternoon, and watch the sunset on the beach in the evening! California is one of them. 

Why sit through your retirement when there is so much adventure to be had? Every single state in the United States offers unique experiences and diverse landscapes. You can’t go wrong with any of them! However, if you want an outdoor adventure in a state that is famous for them, Arizona, Montana, and California truly deliver. 

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When you are writing your will, you may be tempted to leave a few things for your survivors to read between the lines. However, this technique isn’t going to ensure that your assets are divided properly or in the way you want them to be. 

The clearer your instructions are, the easier it will be for your family and other loved ones to make sure that they respect your wishes and do what you want them to do with your assets.

Avoid Fights

If your family isdealing with your death, and your will is unclear, it leaves room for interpretation, which can lead to problems for your family members. If the people you love aren’t all on exactly the same page, a vague will could lead to disagreements that could alter the state of your family. 

If you care about the stability of your family, it is a good idea to write a will that they can understand without having to fight with each other. This is a simple thing you can do to help your family process their grief without having to deal with fights about dividing assets and getting what they need.

Take Weight Off Their Shoulders

When your will has issues, it can put a lot of pressure on the people you love to figure out what you want them to do. This can include things like how to distribute your assets, but it can also include the kind of service you want to have. You want to give your heirs as much information as possible, so they can fulfill your wishes without having to do guesswork. 

That way they can know exactly what kind of event you want and how you would like it to go. You should describe whether you want a funeral or another kind of memorial service. The purpose of a memorial or funeral service is to celebrate your life.

Stay Out of Probate

If you aren’t able to be thorough with your will, it can lead to your family being stuck in the probate process. This can mean months or even longer of dealing with the court system to getyour will worked out. The probate process varies from place to place, but it is always an uncomfortable situation to be in. By making sure your will is clear and specific, you can help your family to avoid dealing with probate at all.

Your will is an important document and it will have a major impact on the people you love. The more thorough you are in writing it, the easier it will be for your family members to navigate your will and process your assets appropriately. Do yourself and your loved ones a favor by writing your will carefully and being as specific as you can throughout the process.

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Healthcare costs are a major concern for retirees. Many people assume that Medicare will cover all of their healthcare costs, but this is not always the case. 

Here are some of the reasons why healthcare gets expensive in retirement and discuss some ways to help offset these costs.

Increased Risk of Illness

Healthcare in retirement can be expensive for a variety of reasons, but one of the most significant is the increased risk of illness. As you age, your body becomes more susceptible to disease and injury, and you often require more medical care as a result. In addition, many retirees have chronic health conditions that require ongoing treatment. All of this can add up to substantial healthcare costs, which can be a financial burden for retirees on a fixed income. 

However, there are ways to help offset these costs. For example, many retirees are eligible for Medicare, which can help cover some of the expenses associated with medical care. In addition, there are often discounts available for seniors on medications and other healthcare services. By taking advantage of these programs and benefits, retirees can help to manage the cost of their healthcare needs.

Long-Term Care Needs

One reason healthcare gets expensive in retirement is long-term care needs. Long-term care includes a wide range of services, from help with basic activities like bathing and dressing to more skilled medical care. Much of your long-term care needs should be covered by Medicare. 

However, it does not cover all types of long-term care, and it has strict eligibility requirements. As a result, many seniors find themselves facing significant out-of-pocket costs for long-term care. These costs can add up quickly, and they can be a major financial burden for retirees.

Prescriptions

As people age, they often require more medication to maintain their health. The cost of these medications can add up quickly, especially for retirees who are living on a fixed income. In addition, many seniors have multiple chronic conditions that require ongoing treatment. For example, a person with diabetes may also need medication for high blood pressure or cholesterol. The costs of these medications can quickly become unaffordable for seniors, especially if they are not covered by Medicare or private insurance. As a result, healthcare costs can be one of the biggest expenses in retirement.

Healthcare is not just a luxury item, but a necessity for a healthy life. As you continue to age the cost of your healthcare is likely to increase. Be aware of these three causes of increased healthcare costs as you get to protect yourself against them.

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One of the things that can most hinder your retirement is having a crushing amount of debt. These financial struggles can make you delay your retirement, and give you more struggles than you’d like during these relaxing years. Read on to learn what you can do about crushing debt before retirement.

Consolidate Debt

The first thing you can do to minimize your debt before retirement is to consolidate it. If you have several different streams of debt, such as credit card debt, student loans, and a mortgage, consolidating the debt can help you get a lower interest rate on your payments. When you consolidate your debt, you’ll get a consolidation loan for the full amount you owe. You’ll then only need to make one payment each month. This simplifies things for you, and may help you pay off your debt more quickly.

Seek Debt Relief

Another way to get out of crushing debt before retirement is to seek debt relief from your creditors. This involves reaching out to your creditors to see if they have any debt relief options you can work with. You can also seek debt settlement services from other organizations. Debt relief can help forgive part or all of your debt. If you cannot think of a way to pay off your debts, this can be an option. However, don’t declare bankruptcy unless it’s absolutely necessary. Bankruptcy should be treated as a last resort to escape crushing debt. Seek debt relief before declaring bankruptcy.

Prioritize Largest Debts

When you begin to pay off your debts, make a budget for how much you can reasonably pay each month. If you have multiple debts, one way to make sure you’re making real progress is by prioritizing your largest debts. These debts typically have the highest interest rate, and can build up the fastest if you’re only paying the minimum payments each month. If you’re struggling to figure out how to set aside more income toward these debts, consider creating a new passive income stream. Investing can help you make more money back and have some passive income to put toward your debts.

When you retire, you want to be able to live a carefree and relaxed lifestyle, enjoying the things you love to do. If you have crushing levels of debt, you won’t be financially free during your retirement, and you may even have to postpone your retirement until the debts are paid. These tips can help you pay off crushing levels of debt before retirement.

Check out these common late-career issues and how to deal with them!

Receiving a steady flow of cash is essential when it comes to building up a financial foundation. Sometimes, job income is enough–if your position is high-paying. But if that isn’t the case, it’s probably a good idea to look for other alternatives as well.

Protect Yourself From Layoffs

Layoffs are quite terrible. They can also be unpredictable. Even if you’re not in a position where layoffs happen regularly, you should be financially prepared for that possibility. If not? Well, if you are completely dependent on each paycheck, you will find yourself in a very difficult position in the event of a layoff. 

Having another source of income–whether it be a savings account, an investment, a second job, or an inheritance–can make the difference between survival and disaster. It’s always best to be prepared for the worst-case scenario just in case an emergency does occur. 

Accelerate Your Retirement Saving

Building up a solid savings account can also be very important. One day you’re going to want to retire. That’s going to require a hefty bit of cash. Most people aim for a million dollars or more, since it’s a good idea to have plenty of money put away for emergencies and medical care at the end of your life. 

That’s why it’s a good idea to look for more sources of income. Investment–such as in the field of real estate–can be an excellent way to start building up your worth. Real estate requires you to put in time to maintain properties to create good tenant relationships, but it’s a relatively safe way to invest. Other forms of investment (such as trading stocks) are a lot riskier. 

Protect Against the Worst-Case Scenario

Everyone is going to encounter difficulties in life. You never know when the absolute worst possible thing could happen to you at the worst possible time. It might be the death of a loved one. It might be a natural disaster. It might be a medical emergency that requires expensive and complicated care. Whatever it might be–you need to be as prepared as you can. If you want to live a stress-free life, with all of the proper insurance to protect you against the absolute worst-case scenarios, it’s best to have the finances to back you up.

Financial literacy can be quite difficult. It also can be very hard to fit everything you need into your schedule. Starting a second job or starting to invest might be intimidating, sure–but if you work hard to get past the learning curve, you’ll be in a much safer position. 

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Selling your home can be both an exciting and stressful process. When you sell your home, you can physically leave the old chapter of your life behind and move onto better things. However, before selling your home, make sure you know what you should expect when selling your home today.

Falling Prices

The real estate market is constantly changing. If you’re going to successfully sell your house, you need to keep up with the way that house prices are rising and falling, and if the market is favoring sellers or buyers. Right now, home prices are beginning to fall for the first time in a while. Since the 2008 recession, home prices have been significantly rising. 

However, it seems they have peaked and aregoing to fall now. This won’t be detrimental, most falling prices will be moderate, but it is something important to note. It could be helpful to sell your home now, before prices fall too much further.

Fewer Buyers

Another change in the real estate market in recent years is that there are fewer buyers. It’s always been difficult to find a buyer for your home, but it seems that the options are even more limited as of late. In fact, you may not ever find the perfect buyer for your home. You may need tocompromise if you want your home sold fast. 

To make sure that your home sells quickly, you’ll have to appeal to more of the buyers’ wants, and perhaps even give up some of your own. Going into the selling process knowing you may have to compromise can help you be better prepared.

Prepare the Home

As lovely as your home may be, it’s likely not ready to sell immediately. Every home needs a bit ofprep work in order to ensure that your sale is as successful as possible. For example, if you don’t make any necessary repairs on your home before listing it, these issues could come up and cause you to fail a home inspection and lose buyers. 

Additionally, taking the time to take high-quality photos to post with your home’s listing can help buyers be more interested. People are incredibly visual, and it’s important for them to see potential in your home. Photos you take, and the way you stage your home can help your home sell more quickly.

If you’re going to sell your home, being prepared can make all the difference. If you take the time to learn the intricacies of selling your home, you’ll be more likely to have a successful sale. To sell your home today, these are the things you should know.

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Anytime a home goes on the market, there are always complications that can come up. One of those things is that when your home has greatly appreciated it can impact your tax situation and other factors of the sale of your house. Being prepared for those things can help you to make better decisions and finish the process without having to deal with too much stress.

Capital Gains Taxes

If you sell your primary home for a small amount of profit, in general, you won’t have to pay any capital gains taxes. If, however, your homehas greatly appreciated, you might end up facing more taxes than you were expecting. Understanding the limits for capital gains taxes can help you to figure out whether or not you are going to have to make adjustments so you can afford tax payments. The amount of time you have lived in your home can also impact your tax situation. If you move directly from one home to purchasing another, it can also help you to avoid having to pay capital gains taxes.

Closing Costs

As the seller of your home, you won’t be responsible for too many closing costs, but there are still some you will have to worry about. The main closing cost you generally pay is the commission to all the realtors involved. Since your home has increased in value, this can be a high amount. 

Generally, the total amount you pay for commissions is around six percent of the sale price of your home. Selling to a cash buyer can help you save thousands of dollars in commissions since they will often pay those fees for you. Cash buyers will also often skip their inspection, which can help you to save money that you might otherwise pay for repairs.

Remember Your Neighborhood

If your home has appreciated greatly, the other homes in your area have likely done the same. This means that you need to take time to figure out how you compare to those other properties. Your realtor will often take care of this for you, but it can help to do a little research of your own. That way, you can understand what your home will likely go for and what their experiences were like when they sold their properties. The more you know about the costs of neighboring homes the better you can prepare foryour own home’s sale.

Every home has its own specific elements that come together to make it appreciate. As you understand your circumstances better, you can make decisions that will help your financial future to be more secure. That leaves you in a good position to plan for what is coming next in your life.

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In your parents’ days, everyone’s work lives were quite predictable. They would go to school, find a profession, and probably stick with that until retirement. Almost every person had the same retirement plan in mind: by 50 years old, leave the company they’ve worked with since young adulthood, live off of a traditional 401k or pension plan, and play a lot of golf. Nowadays, however, things are not so straightforward. Your retirement may look drastically different from that of your parents.

Yours Will Be Longer

People have typically retired in their sixties because that is when you can withdraw retirement money without incurring any penalties. Because of this, some people have subscribed to the myth that your sixties are “retiring age.” However, you don’t have to wait until you are sixty years old to retire. By calculating your financial independence, you can know how much longer you need to work to support yourself without income. This could be far earlier than your sixtieth birthday. Additionally, you could even switch to a higher-paying job or work more hours to be able to retire earlier.

You’ll Rely on Different Retirement Plans

Traditionally, people had retirement plans that paid specific amounts or stipends each month. The kind of retirement plans that pay specific monthly amounts are much less common nowadays. There are some benefits to getting your retirement money in larger portions. For example, if you want to make a large purchase towards the beginning of your retirement, you will probably have the funds to do so. However, because you won’t be getting specific monthly amounts, you need to make sure that you are budgeting your retirement money wisely. Even if you are not constrained by a monthly payment, you should still limit yourself to only spending a certain amount each month.

You Might Live Longer

Nowadays, people typically live to be older than their parents do thanks to better healthcare, careers with less manual labor, and other factors. Nevertheless, growing older than your parents increases your chances of getting dementia. With dementia, it is difficult to make wise financial decisions. Therefore, to protect your retirement assets, you should plan early on what you will do with your funds. You can also plan out future care for yourself like paying for an assisted living home. 

By knowing how your retirement may differ from your parents’ retirement, you will be able to better plan for your future. Retirement should be a relaxing, freeing, and exciting time. Not having to worry about money during retirement will help make it a more enjoyable time for you. 

Check out this article on how to accelerate your path to retirement!

While it is everybody’s goal to care for themselves for life, there are occasions when your aging parents might need your loving intervention. One area of concern might be their ability to make prudent financial decisions if their cognitive function is declining. While you never want to overstep your bounds, you might need to step in, especially if you are noticing lapses. 

Help Them Manage Their Investments

No one wants to lose autonomy. Anyone would resent even the hint that they are no longer able to care for themselves. If there are no major health or cognitive issues, give your parents as much control over their lives and finances as you can. If you do need to step in, do it gently. Start an open conversation about ways you can help them in their later years while your parents are still young. Letting them decide ahead of time when and for what reasons you will step in should help them feel less resentful later on. The best way to broach the subject is to simply ask them if they would like any help with their investments. Who knows? They might be more than happy to get some help.

Prevent Fraud

Sadly, elderly people are often targets of identity theft schemes and fraud. Of all the financial losses due to scams in the United States in 2020, a solid quarter of those losses were to seniors. A big reason for this is the generational gap when it comes to technology. Younger people generally have more advanced tech skills which allow them to pick up on subtle red flags. You can alert your parents to these scams without being offensive. Talk about the scams in a general way, rather than showing mistrust in your parents’ ability to discern them. 

Make Sure They Are Making Do

In the United States, octogenarians and other older people have higher poverty rates than any other population. Many of these individuals are living without the most basic necessities, including sufficient food. At the same time, most parents balk at asking their children for help. Don’t wait for your parents to come to you. Be observant and pay special attention to their standard of living. Check on them regularly to ensure that they are paying their utility bills, seeing the doctor, and getting enough to eat. 

Your parents gave the best of themselves to take care of you in your growing up years. Now that the tables have turned, give your parents the loving care that they deserve. It will be a fine line to walk between respecting their autonomy and extending help when needed. 

Check out this article on how to meet your net worth goal before retirement!

Going into retirement should be an exciting new chapter of your life, but it has the potential to be a stressful transition. You should start your retirement off right by reducing stress as much as possible. You can begin this next phase without any worries. 

Reduce Investment Risk 

Providing for your financial needs in retirement is essential. You want to make sure you have enough money to cover your living expenses while living comfortably. There are a variety of ways to provide for this including having a savings account or even investing. If you choose to invest, you should do your best to reduce any risk. High-risk investments don’t always pan out and you can end up with less money than you anticipated. You don’t want to start off your retirement this way. Choose low-risk investments that are more of a guarantee so you end up with the money you need.

Get Rid of Stuff 

To prepare for retirement, you should take a look at all your belongings and begin downsizing. It’s unlikely that you’ll need everything and many items can be let go. It’ll be much easier to move if you have only your essential belongings. Selling or donating items can help you reduce what you have to move. If you choose to sell, this can be added to your savings to help you out in retirement. Of course, donating is also a great option because it allows you to pass on your items to someone who may not be able to afford them. Either way, you pair down your belongings and prepare yourself for a much easier move. 

Plan Out Your Next Chapter

One stressful part of retirement is determining what happens next. You might be left wondering how you’ll fill the day or what you’ll have to look forward to. If you want to avoid this anxious period of wondering, you can start making a plan now for how you’ll spend your retirement. You can pick up some hobbies to keep you busy. Make some new friends to spend time with. If you choose, you can even find a new job that will be manageable while also giving you something to do. 

Start preparing for your retirement now and find ways to reduce any potential stress. The more you plan ahead, the easier your transition into retirement will be. Determine what your possible stressor may be and make a plan to address them. 

Check out this article on how to accelerate your path to retirement!