Archive for the ‘Aging in Brooklyn’ Category

Baby Boomers And Retirement: Are You Financially Prepared?

Friday, July 15th, 2016
Financially prepared

Baby Boomers, are you financially prepared for retirement?

America, we’re getting older. Those of us born in the USA after World War II and before 1964 (ages 51-69 respectively) are known as Baby Boomers, and we’re nearing retirement. Are you financially prepared to get to retirement or through retirement? Is there a chance you will not get through retirement because you are not financially prepared to do so? It’s time we evaluate our fiscal health.

None of us knows what’s ahead in the next 1, 5 or 10 years, but there are ways to prepare financially to get us through retirement One of the best ways to ensure your money lasts through retirement is to plan on living longer than you think. Here are four ways for Baby Boomers nearing retirement to get financially prepared:

Reduce Your Expenses and Get Rid of Debt

Take charge of your spending. It’s important to create a budget that you can stick to now in case your income is reduced in the future. If you’re looking for ways to save money, look here: Federal Citizen Information Center.

Stop Self-Investing and Go Pro Instead

The pros can manage a lot of money cheaply. How?

  • Their costs to do what they do for their clients are at an institutional rate
  • They get lower commissions on buying/selling securities
  • They can manage money for a lot less

Your 401(k) and IRA returns can amount to little because money managers charge you “retail” and overcharge for their commissions for sales, management and securities. Costs matter. Find the lowest-cost provider in every retirement fund you have, particularly in your 401(k) if you have one.

Add to Your Income-Producing Investments

Take a look at your investment portfolio. Is it heavy on the stock funds side?  If so, now is a good time to increase the percentage of bond funds or other investments that are designed to provide a steady income for you throughout retirement. Ask your financial pro to review your money distributions.

Invest in Real Estate to be Financially Prepared for Retirement

Real estate is a secure investment, and homeownership is critical in building wealth and financial security over time. That’s important when planning your retirement. Owning is much wiser than supporting a landlord financially and having no equity to show for any of it. Homes appreciate. Owning is far superior to renting because it locks in your housing costs and over time your real costs decline.

In the past two years, home prices have increased more per year than the 4% average that rents have risen per year. And homeownership comes with valuable tax benefits, too.

If you don’t own a home, consider purchasing one. Real estate is a secure investment to use as your retirement fund.

Take advantage of the great real estate market situation. Brooklyn real estate is at an all-time high, but we don’t know for how long.

The bottom line

Because we are nearing retirement, don’t take unnecessary risks to get financially prepared. There is no wisdom in trying to recover losses we may have incurred by putting even more money in risky investments. We will need that money for living expenses throughout our retirement.

But do get financially prepared for your retirement now. Save with purpose and intensity, invest wisely and take advantage of the benefits of today’s great real estate market.

Are you financially prepared for retirement? Are you ready to downsize and simplify as you near retirement? Is it time to sell your real estate investment? Get the help of real estate agent Charles D’Alessandro, your Brooklyn real estate agent with Fillmore Real Estate. Call (718) 253-9700 ext. 206 or email him at [email protected] today!

10 Ways to Prevent a Fall in Your Brooklyn Home

Tuesday, December 30th, 2014
Prevent a fall in your Brooklyn home

Prevent a fall in your Brooklyn home

The number of serious and fatal injuries caused by falls is rising in America.

The New York Times reported in November, 2014:

“The number of people over 65 who died after a fall reached nearly 24,000 in 2012, almost double the number 10 years earlier, according to the Centers for Disease Control and Prevention.”

“More than 200,000 Americans over 65 dies after falls in the decade from 2002 to 2012. Falls are the leading cause of injury-related death in that age group.”

“And more than 2.4 million people over 65 were treated in emergency departments for injuries from falls in 2012 alone, an increase of 50 percent over a decade.”

You may not see your need to do anything to prevent a fall in your Brooklyn home until after you have fallen, but a bad fall will certainly make you wish you had! A fall can seriously impact your health and independence, but they are not an unavoidable part of growing older. They can be prevented!

Here are 10 ways to prevent a fall in your Brooklyn home:

  1. Exercise – Exercise strengthens your legs and improves balance, making a fall in your Brooklyn home much less likely.
  2. Be aware of side effects – Side effects such as drowsiness or dizziness caused by medicines and combinations of medicines will make a fall in your Brooklyn home more likely. Talk about possible side effects of your medicines with your doctor or pharmacist.
  3. Get your eyes checked every year – Wearing glasses or contacts with the right prescription and seeing clearly will prevent a fall in your Brooklyn home.
  4. Identify potential home hazards – Tripping hazards, (papers, books, clothes, shoes, rugs), clutter and poor lighting should be identified and removed or changed to prevent a fall in your Brooklyn home.
  5. Install handrails and lights on your staircases in your Brooklyn home.
  6. Install grab bars, too. Put them inside and next to your tub or shower and next to the toilet.
  7. Use non-slip mats in the tub and shower.
  8. Avoid the need for a step stool. Keep items you use most often within easy reach in your Brooklyn home.
  9. Use bright lighting – You need brighter lights in your Brooklyn home in order to see well as you grow older.
  10. Wear shoes – Going barefoot or wearing slippers will prevent a fall in your Brooklyn home.

Stay safe, secure and independent while growing older. Prevent a fall in your Brooklyn home before you fall.

I can help you find the perfect home with all or almost all of the 10 ways to prevent a fall in your Brooklyn home. Give Charles D’Alessandro Your Brooklyn real estate agent with Fillmore Real Estate, a call at (718) 253-9600 ext 206 or email me at [email protected]. Let’s start looking today!

Resources:

http://www.nytimes.com/interactive/2014/11/03/health/bracing-for-the-falls-of-an-aging-nation.html?emc=edit_na_20141102&_r=0http://www.cdc.gov/Features/OlderAmericans/