If you find yourself dining out frequently, it pays to find ways to save money eating out. Here are 25 savvy tips to make your restaurant budget stretch.
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Most people look forward to retirement as a time to relax and enjoy life after decades of hard work. What if ill-health and the effects of aging get in the way of realizing your dreams?
Fortunately, the right activities and treatment programs can help you maintain â or even improve â your physical and mental wellbeing. Hereâs a look at the science behind how to keep yourself at peak condition in retirement.
Step 1:Â Stay active with walking and light sports like golf
The evidence is overwhelming: Staying physically active as you age can help prevent illnesses such as heart disease, stroke, type 2 diabetes, some cancers, depression and dementia. A Harvard University study involving 12,000 people showed that just one hour of brisk walking each day can halve the impact of 32 obesity-promoting genes, a strong cause of many health disorders.
Those who enjoy more competitive pursuits gain even more benefit. Golf, for example, is a great way to maintain both mental and physical fitness because it combines the benefits of walking with sporting activity.
A study by the Karolinska Institute in Sweden revealed that golfers live an average of five years longer than non-golfers. In addition, a National Institutes of Health study found that golf improves focus and attention, with increased blood flow to the brain and stimulation of the cerebellum, enhancing coordination. Other benefits of moderate aerobic exercise â like playing golf â include increasing the amount of nightly restorative deep sleep.
Golfâs social aspects also provide psychological benefits, guarding against loneliness and increasing happiness. At the same time, playing golf can reduce stress thanks to its outdoor locations, which help reduce cortisol, the âstress hormone.â Being outdoors in the sunlight also promotes the bodyâs generation of Vitamin D, which is crucial for immune health, muscle function and brain cell activity. Fresh air increases the bodyâs consumption of oxygen as well.
On top of these benefits, playing a course with 18 holes is simply great exercise. According to Golf.com, walking the course, carrying a bag and swinging a club multiple times uses up a significant amount of energy â enough to burn nearly 1500 calories on average.
Step 2:Â Boost cognitive function with a scientifically proven treatment
A healthy body leads to a healthy mind, to paraphrase a common saying. Through specific treatments, you can further improve cognitive function in old age.
One very promising approach is Hyperbaric Oxygen Therapy (HBOT), available at Aviv Clinics in Central Florida. HBOT involves breathing 100% (pure) oxygen while in a special space called a hyperbaric chamber. The air pressure inside is raised to a level that is higher than normal air pressure, which helps the lungs collect more oxygen.
A study published in the peer-reviewed journal Aging showed that the use of HBOT had demonstrably positive effects on cellular health in aging humans. In the study, oxygen therapy was shown to âincrease telomere length by more than 20%â and âdecrease cellular senescence by as much as 37%.â These two improvements (both markers of cellular health) can have a big impact on cognitive function.
Whatâs more, Aging recently published another study showing that HBOT helps prevent Alzheimerâs disease. This landmark study is part of an ongoing program researching age-related cognitive decline conducted by the Sagol School of Neuroscience in Tel Aviv and Tel Aviv University. The research marks the first time that HBOT has proven effective in reversing the main activators and early symptoms of Alzheimerâs disease.
Relying on oxygen as a key component of brain function, Aviv has developed a unique HBOT protocol that sparks natural rejuvenation within the body. See more scientific research about the effectiveness of HBOT in improving cognitive performance related to aging, as well as recovery from brain injuries, strokes, erectile dysfunction and Lyme disease.
Step 3:Â Get personalized physical and cognitive coaching
Now, you can receive comprehensive professional support for your wellness goals. Even better, this help is available within a clinic-based program tailored to your individual needs.
Aviv has developed an approach that has shown considerable success in counteracting the effects of aging. The program combines HBOT with personalized cognitive and physical training, as well as nutritional coaching.
Aviv opened a 30,000-square-foot scientific medical center (take a virtual tour) in Central Florida at the beginning of 2021 â the first of its kind in North America. Through this center, the MedTech company has been able to deliver its scientifically evidenced medical program to a greater number of people.
The Aviv Medical Program is a unique regimen that begins with comprehensive, in-depth assessments of brain and body function. The results of these assessments are the basis for developing a strategically tailored, client-specific treatment plan targeted for personal improvement goals.Â
The impact on the clinicâs clients has been substantial. Concerned about the health of his heart, Richard underwent HBOT at the Florida location, completing treatment in September 2020. âA subsequent scan of my heart showed a 23% reduction in plaque,â he says. âMy doctors told me that couldnât happen.â
Another client, Eileen, had a problem with short-term memory. She also found the program extremely beneficial, with much of her old confidence in her abilities returned. Her husband, Jack, says: âThe changes Iâve noticed in my wife have been wonderful.â
While youâre improving your health at Aviv, you can also choose to receive additional, intensive training designed to advance your golf skills through the Golf Performance Program. The program provides intensive training focused on skill and performance, with access to more than 50 golf courses, 12 championship courses, and PGA/LPGA instructors. This training is combined with the standard 12-week medical program of HBOT, personalized cognitive and fitness training, and a nutritional plan.
Global professional golf athlete, Tommy Fleetwood, has recently begun his journey with Aviv Clinics. âItâs a fascinating concept,â Fleetwood says. âThe synergies of brain performance and golf are endless, and Professor Shai* is one of the worldâs leading doctors in how we can improve our brain function.
âMost athletes understand the positives of hyperbaric treatment,â he explains, âbut that, along with cognitive brain training, is something I really think will be the future for an elite athlete.â
Better living in retirement
You can benefit even if youâre not a pro athlete. In fact, the Aviv Medical program combined with the Golf Performance Program promises to make retirement what it should be â a joy. Following the personalized course of treatment combined with world-class training activities can help you get the most out of all the years ahead.
*Shai Efrati, MD, is an associate professor at Tel Aviv University and director of the Sagol Center for Hyperbaric Medicine and Research at Shamir Medical Center.
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This content was provided by Aviv Clinics. Kiplinger is not affiliated with and does not endorse the company or products mentioned above.
Rent receipts are useful for tenants and property managers.
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With todayâs low interest rates, it takes planning to create sufficient retirement income without taking more risk than you need to. The days when you could get good income from a collection of Treasury bonds are long gone.
You can get income from dividend-paying stocks, bank accounts, bonds and bond funds, and several different types of annuities.
Each has pros and cons. Stocks that pay high dividends can yield a good amount of income, but stocks can be volatile. You can lose money, and if youâre retired, you may not be able to wait until the market recovers.Â
Guaranteed deposits, such as bank CDs and fixed-rate annuities, may pay less, but both the interest income and principal are assured (although in different ways).
Most retirees use a portfolio of products and strategies. By mixing and matching appropriately, you can produce income, counteract inflation and provide some liquidity that you might need for anything from medical expenses to a great vacation or giving money to kids or grandchildren.Â
The right mix is highly individual. Retirees with pensions that cover the bulk of their monthly expenses may be able to take more risk with their money. Others who donât have that cushion and canât afford to lose anything look to guaranteed strategies.
One type of guaranteed product is the fixed annuity. A very popular option today is the multiyear guaranteed annuity, or MYGA. Underwritten by a life insurance company, it acts much like a bank certificate of deposit (CD). You deposit a lump sum, called a single premium. You then receive a set interest rate for a set period.Â
Unlike bank deposits, fixed annuities are not FDIC-insured. However, there is a form of insurance provided by state guaranty associations in case the insurer becomes insolvent. Coverage varies by state.Â
Annuity interest is tax-deferred until withdrawn. If you receive income from an annuity before age 59½, youâll normally be hit with a 10% IRS penalty in addition to ordinary state and federal income tax. Â
Fixed annuity features vary. If youâll be relying on an annuity for income, make sure that the product youâre considering allows either monthly or annual interest withdrawals, depending on your needs and preferences.
While these products often allow withdrawals of up to 10% annually, they do levy penalties for taking excessive withdrawals before the guarantee period is over.Â
A big advantage of fixed-rate annuities is that they usually pay higher rates than other fixed-rate instruments, such as CDs and investment-grade bonds. As with CDs and bonds, youâll get a higher interest rate if youâre willing to tie up your money for a longer period.
But is it worth it? On the one hand, âgoing longâ will produce more current income. Some people are comfortable with that.Â
On the other, going short gives you flexibility. If interest rates improve in the interim, youâll be able to get a better rate once the guarantee period is over.
So, what makes the most sense? For people with enough money to spread among different annuities, I suggest laddering guarantee terms. Because no one knows for sure which direction interest rates are headed in the future, laddering makes the most sense. It gives you both good current income and future flexibility.
Whatâs the best laddering strategy? It depends on what the interest rate curve looks like at the time youâre creating the annuity ladder. If the curve is flattish, going mostly short would make sense. If itâs steep, you might want to commit more to longer terms.
Today, I recommend laddering annuities from three to five years. Hereâs why:Â
First, there is a significant interest-rate bump when comparing two- and three-year terms. For example, currently (January 2022), you can earn 2.00% on a two-year annuity from an insurer rated A- for financial strength by A.M. Best. Â
With a three-year MYGA, you can earn 2.50% from that same A- rated company. Thatâs 25% more interest. Unless youâll need all that money two years from now, itâs probably worth going for an additional year.Â
Three years from now, youâll be able to roll the proceeds tax-free, via a 1035 exchange, into any other annuity that looks most attractive then. Maybe rates will be higher.
While a four-year annuity is an option too, five years is a sweet spot. Even if youâre willing to tie up your money longer, you wonât get much more interest with a seven- or 10-year contract right now.
For instance, as of February 2022, if youâre willing to go with a B++ rated company, you can get 3.15% on a five-year contract with limited liquidity. Youâd get only a bit more, 3.20%, with the same insurerâs seven-year annuity.
If you prefer an A- or better rated company, you can earn 3.00% on a five-year annuity and 3.15% for seven years.
Besides being useful for nonqualified savings, fixed annuities also work well for IRAs. And the same laddering approach works.
Between the ages of 59½ and 72, you may take taxable interest withdrawals from a traditional IRA annuity, or you can let the interest compound and defer taxes. At 72, you must begin taking required minimum distributions (RMDs).Â
If youâre already taking RMDs or soon will be, look for an annuity that lets you take out your RMDs without penalty. Many issuers have that feature.Â
If you have all of your IRA in equities or even long-term bonds, you may be forced to make an untimely withdrawal when the stock or bond market is down. Whether you choose a three- or five-year or other term annuity, youâll be assured that youâll have the guaranteed withdrawals to pay your RMD.
Annuity expert Ken Nuss launched the AnnuityAdvantage website in 1999 to help people looking for their best options in principal-protected annuities. A free quote comparison service with interest rates from dozens of insurers is available at https://www.annuityadvantage.com or by calling (800) 239-0356.
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Ever wonder how substitute teachers get those gigs? Thatâs what this mom of two does, and it lets her brings in a solid side income while going to school with her kids.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
For lovers of classical music, there is nothing like the sound of a great symphony orchestra. Itâs amazing to see a finely tuned group of musicians bring together the many different tools of their craft, including brass, woodwinds, strings and percussion, for the purpose of creating music that moves and inspires. Playing each instrument on its own may be nice, but, when brought together to work in concert with each other, the sounds can be amazing!
You can make YOUR retirement AMAZING by thinking about your plan in the exact same way. Over the years, you may have created your wealth by being a diligent saver and deferring many of lifeâs pleasures. You may have accomplished this by using a wide array of investment and insurance tools, such as company 401(k)s, IRAs, brokerage accounts, real estate, life insurance, annuities, CDs, etc. Over time, you probably watched your net worth grow as the values of these tools individually each increased. However, as you prepare to cross that bridge into the retirement phase of life, you will be left to figure out how each of these âfinancial instrumentsâ should be played together, to create your own âRetirement Symphony.âÂ
Here are three steps I encourage you to take to get your concert started:
This can be one of the most important foundational things you can do as you prepare for this journey. Understand that if you created significant wealth throughout your career, you probably did so with an âAccumulationâ mindset, focusing the majority of your efforts on being a regular saver and strategic investor using a wide array of tools and products.Â
When you cross that bridge into retirement, however, your mindset should change from one of âAccumulationâ to one focused more on the âPreservation and Distributionâ of that wealth. Investment growth is still a part of the equation, given that retirement could last over 30 years.  However, you should expand your thoughts beyond just investment strategies to thoughts about strategies to address a combination of things, such as:
Itâs important to understand the capabilities of ALL your financial instruments and how you can maximize the positive things they were designed to do. For example, ask yourself what you want from each of your investment accounts going forward. Is your goal to just get a specific rate of return each year because it looks good in traditional retirement planning simulations, OR is the growth you seek for a specific purpose? Those purposes could be for such things as immersing yourself in all your recreational âbucket listâ adventures youâve been dreaming of or just growing a portion of your wealth enough to reach your legacy goals.
What about some of the insurance tools that you own? Do you understand how to maximize the capabilities of all the various annuities and life insurance policies you purchased over the years? Some examples for using these tools may include creating a lifetime stream of monthly income or having money that can be distributed tax free. In addition, these tools could also be an unknown way to pay for the cost of long-term care or provide the opportunity to leave a significant legacy to loved ones.
Whatever your desires are, understand how to maximize your financial instruments to create those sweet sounds.
With any award-winning symphony orchestra, the right conductor will certainly be the centerpiece to bring all these sounds together. Without them, perfection cannot be achieved. The same can apply to having the right person to be the âconductorâ of your retirement symphony.Â
If you have never worked with a financial adviser, the first thing you will need to determine is âwhenâ and âifâ you will relinquish the responsibility of your retirement plan design and oversight to someone else. For those who have grown their wealth on their own, this can be a difficult decision. However, ask yourself if you have the desire AND capacity to take on this responsibility as you get older. You may have enjoyed investing money and watching the market over the years, but are you ready to oversee the âPreservation and Distributionâ phase of life?Â
Once you have decided to hire a financial adviser, finding the right one is next. Because the financial services industry is filled with thousands of advisers, here are a few things to consider:
These are just a few of the many things to consider when determining who will be your conductor ⦠too many to list here!
Use these steps to begin creating your own sweet music and âRetirement Symphony.â
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Dear Penny, I lent my parents about $21,000 about eight months ago, and another $11,000 about four months ago. The $21,000 was supposed to be âlong termâ to help my parents consolidate debt (about two years in my mind), and the $11,000 was supposed to be for one month. They’ve repaid $4,000, but nothing since [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.