Retirement: Two Risks Factor You Must Consider & Understand Before Retiring.
By Glenn S. Ferguson
Mar 29, 2011 - 12:59:15 PM
When it comes to retirement there are two risk factors that will impact significantly on your retirement readiness and the quality of your retirement therefore it is very important that you fully consider and understand these before you retire.
And these two factors relates to the working definition of retirement that I have provided you with earlier but in case you have forgotten - “ Retirement is the time to do what you want to do without the fear of running out of money and health.”
The first of these risk as you have guess by now relates to having enough money to live out your retirement. It is critical that you have the ability to sustain yourself financially during your retirement and that your money last as long as you do. So that like your working years you continue to have financial stability during your retirement years.
And how do you do this?
Through your saving and investing of the money that you earn during your working years. But no matter how much you save and invest, how much money you actually have during retirement will be impacted by what I call “financial market risk.”
Financial market risk refers to the undermining of your investment portfolio’s ability to produce the income you need for retirement because of unexpected and sustained market declines.
Something you really have no control over as was evident in the recent market declines that took place not only in the United States of America which you heard about but also the market declines that were experience by the Bahamas International Stock exchange which loss some $500 million of value.
This is why it is critical that you improve your financial literacy to ensure that you understand exactly how your money is being invested and affected by the various changes in the markets. And not allow yourself to be distracted by the “noise in the market.” Like my Grammy always said “no fisherman ever call his fish stink.”
The second of these risk is the health risk of aging .
The good news is that no matter your genes you have a say in how you age. According to a study done by Rowe & Kahn on Aging, your genes only have a 30 percent impact on your health while “lifestyle choices” has a 70 percent impact.
Therefore, it is clear the only way to reduce the health risk associated with aging is maintaining a healthy lifestyle. And the best assurance of low health care costs and a high life satisfaction in retirement years is to prevent diseases and accidents in the first place.
It may surprise you to learn that 60 percent of the deaths in persons 60 and older in the Bahamas is caused by heart disease and cancer. And if these two diseases could be diagnosed and treated early, many more Bahamians could enjoy more fully their senior years.
And more have their live complicated by chronic lifestyle diseases like Arthritis, High blood pressure and Diabetes. The best approach to avoiding these illnesses is to engage in and make healthy lifestyle while you are still able-bodied.
And while there are many possible ways to prevent or postpone frailty. Here are five important things you can do:-
1. The cornerstone of any prevention program is eating a balanced nutritious diet in the proper amounts. moderate weight can ward off disease and help you feel great!
2. Exercise regularly for good mental and physical health. It will improves your digestion, heart, breathing and relieves tension & stress. Best Approach is a variety of activities that you can do a minimum of 20 minutes 3 – 4 days a week. now and carry into your later years. Walking, jogging, bicycling, sand dancing. Be sure to see your doctor before beginning.
3. Get a complete physical exam at least every 3 years. And if “at risk” you should get checked more frequently for blood pressure, cholesterol, Diabetes, Glaucoma, Osteoporosis and Cancer.
4. Avoid , Alcohol, Nicotine, Caffeine. These are not only dangerous but also addictive which makes it hard to stop using.
5. Get a complete oral examination. Dental health today stresses prevention of gum diseases and using corrective procedures in early life to prevent tooth decay and the loss of teeth. As it may surprise you to learn that most of the virus that enter your body does so through your mouth.
Remember retirement is Now.
You are either building your retirement or you are living your retirement. So the sooner you get control of your money and health the more likely it is for you to have a successful retirement.
Be sure you get my special retirement training video - "Retirement's Dirty Little Secrets & Lies... And What to Do About Them"
It's free so go head and get your copy. And when you do join my VIP list and continue your retirement education and empowerment
Copyright © 2011 - Glenn S. Ferguson
Glenn Ferguson is a Speaker, Coach and Syndicated Writer, helping you to painlessly take control of your money so that you can own your pay cheque again to create wealth for you and your family. Email to: email@example.com Web site: www.financialcoachingwithglenn.com Tel: 242-327-2453 Fax: 242-327-2456
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