Here are a few reasons why each and every American senior should consider becoming a retired volunteer. Volunteering can even help you live longer!!

1. Volunteerism is essential to the United States. Especially during times of financial crisis, the United States needs volunteers in order to keep things running! Presidents have been calling for increased volunteerism since the 1930s, and 2009’s American Recovery and Reinvestment Act did the same. The Act managed to mobilize more than 135,000 new volunteers in the past year alone, and these 135,000 have managed to help a massive 1.1 MILLION people!

2. The American work industry still needs seniors. Despite all the hard work retired people have done throughout their lives, communities still need active seniors! While all volunteers make a difference in the organizations they serve, the knowledge and experience of seniors helps them make an even bigger difference than the “Average Joe.” A retired volunteer with a lot of expertise can save a great organization a lot of money!

3. Senior volunteers help bridge the generation gap. Obviously, many young people volunteer in all kinds of different organizations, so seniors who choose to do the same help to bridge the generation gap! Cultural differences between current seniors and young people are huge, and include issues such as technology, norms of workplace behavior, and political differences. When seniors choose to volunteer alongside young people, there is an opportunity for each generation to learn something from the other.

4. Senior volunteers help create future leaders. Another benefit of volunteering with young people is that a senior’s lifetime of experiences can help young people to become better volunteers!

5. Senior volunteers can choose to do work that is meaningful to them. Unfortunately, many people work for most of their lives in fields that don’t actually interest them. Because volunteer opportunities are endless for so many different types of organizations, senior volunteers have the opportunity to choose work that they actually find important and exciting! In fact, the Corporation for National and Community Service, a national service program, reports on a study that finds that retired volunteers are more satisfied with their lives than people who continue to work for pay.

6. Volunteering can help keep seniors’ brains sharp. Senior Corps, one of the largest seniors programs and part of the Corporation for National and Community Service, provides an online journal as part of its program. A recent article reports on a very exciting new study that demonstrates that senior volunteers’ work in social programs can not only help keep senior citizens’ brains in good shape, but that such volunteerism can actually increase brain function and cognitive abilities! In short, becoming a retired volunteer can actually make a senior citizen smarter!

7. Becoming a retired volunteer is good for a senior’s physical health. Another Senior Corps journal article on a UCLA study suggests that productive activities seem to slow many of the consequences of aging among senior citizens. This study specifically suggests that, out of all forms of productive activity, volunteering seems to generate the best results!

8. Volunteering helps seniors get out of the house and back into their communities. Many seniors spend a whole lot of time at home. In fact, a recent article in the L.A. Times states that seniors currently spend between half and three-quarters of their time awake watching television! This sort of social isolation helps explain why so many seniors suffer from depression. Estimates on the frequency of diagnosed depression among senior citizens range from 6 to 6.5 million of the 35 million Americans aged 65 years and older. Senior volunteers spend less time at home and more time in their communities, which helps them make friends and increase their social and support circles.

9. Volunteering is rewarding. Another thing that’s well-known to help combat depression in all people is giving to others, as this brings joy to oneself! Even if a senior isn’t depressed, becoming a senior volunteer is a rewarding experience that reduces stress and increases happiness.

10. Volunteering may prolong seniors’ lives! The Corporation for National Community Service also reports on a study in which seniors who provide social support for others through volunteering had lower rates or mortality than those who didn’t! The same national service program notes that, on a larger scale, states with higher volunteer rates among seniors generally have lower mortality rates. This just points back to how significantly volunteering can improve seniors’ physical, mental, and emotional well-being.

11. Senior volunteers can work around their own schedules. Even very busy, active seniors can become volunteers! Most organizations are more than happy to work with their volunteers’ schedules. Plus, because organizations very much appreciate the skills and experience of seniors, they are often extra-flexible when it comes to retired volunteers.

12. Great resources, including seniors programs, make volunteering easy! One previously mentioned national seniors program, RSVP (Retired and Senior Volunteer Program), provides a retired senior volunteer program for each state. Literally all national seniors can find a retired senior volunteer program locally! It offers a very wide range of volunteer opportunities in thousands of different
organizations, and proactively works with seniors to determine what organization might be best for them in terms of skills and time commitment.

Another outstanding retired senior volunteer program is Civic Ventures, which works to engage the newly-retiring baby boomers in volunteer work. Civic Ventures is an especially great resource for seniors interested in working to solve serious social problems, as it focuses on issues of social justice like education, the environment, healthcare, and homelessness.

Yet another great place to get started is VolunteerMatch, which is an superb national service program. VolunteerMatch serves people of all ages, so while it’s not specifically a retired senior volunteer program, it’s especially excited to help seniors find organizations that best suit their volunteering needs and desires. More than 72,000 different organizations use this national service program to help find volunteers, so all retired seniors can easily find an opportunity that works for them!

Source: www.seniorcorps.org

A lump sum payment will be just that—a lump sum. If the retiree elects to take a single payout that is exactly what will happen—payments will continue for the life of that individual. If the retiree elects a joint payout, a reduced monthly payout, will be paid to the spouse beyond the life of the primary participant. Once a payout option has been elected it cannot be changed.

The burning question for most retirees is what will happen to my heirs after death? Should I take the higher payout? If I take the higher how will my family survive after I am gone? Choosing a payout option for retirement will not only affect the retiree for the balance of his life; it will also affect his family. Is there a way to get the best of both worlds? Yes!

At Tarkenton Financial, we are in the business of helping people. We pride ourselves in offering competitive, holistic, and dynamic client solutions. If we could facilitate an opportunity for you to take the higher pension payout and still insure same payout or better your spouse; would you be interested? Call Tarkenton today and see how partnership in financial solutions can be a win win and take you a step closer to reaching your financial goals.

It is up to you!

Have you decided when you are going to elect Social Security benefits? Do you know the benefits of deferring your Social Security income? There is not a right or wrong answer, because it is up to you. Keeping in mind, the longer you delay your Social Security benefits, the greater the payments will be. So where will you receive your income to bridge the gap?

If you haven’t begun your Social Security benefits, then you will notice that monthly payments depend on your agent when you apply to receive them, or if you are already in receipt of these benefits, then you already know that you can receive a lower monthly income for your entire life expectancy, or you can receive a greater monthly benefit for a shorter period of time at a later choosing. Using annuities in your retirement planning can help you develop a plan to maximize the monthly income you desire. For more information on the timing of electing Social Security benefits, you can go to www.ssa.gov/pubs/1047.

1. Deep discount come-ons
“Door-buster” sales promise big savings and not just on Black Friday, the day after Thanksgiving, or the following Cyber Monday, when shoppers go online. What to do? Comparison shop before buying and don’t worry about missing a sale, it’s likely that another one will come around before the season ends.

2. Gift card gotchas
New federal rules for gift cards limit issuers’ ability to charge certain fees and impose expiration dates. Inactivity and service fees can be charged only if a card hasn’t been used for at least one year. Also, gift cards are not protected if an issuer goes bankrupt. A quarter of people surveyed by Consumer Reports in October 2009 who received gift cards the previous year said they hadn’t redeemed their almost one year-old cards.
– What to do? Give cash or a check.

3. Extended-warranty pitches
Salespeople push service plans because retailers keep 50 percent or more of what they charge for them, but they are notoriously bad deals. Some repairs are already covered by the standard warranty that comes automatically with the product. Consumer Reports’ shows that products seldom break within the extended-warranty window of coverage, when items do break, the repairs, on average, cost about the same as the warranty. What to do? Some credit cards automatically extend the manufacturer’s warranty on anything purchased with them, so check the card’s website. Even if the warranty expired, check with the retailer or manufacturer, which might choose or be legally obligated to repair and make good on a product that prematurely fails or otherwise shows signs of a defect.

4. Return-policy limitations
Some retailers relax their return policies during the holiday season, but don’t count on it and always learn the rules before buying. Some companies have different return policies for in-store, online, or mail-order purchases. – What to do? Keep the receipt and let the recipient know the return policy. If the store provides a special gift receipt, include that with your gift.

Source: http://today.msnbc.msn.com/id/39915362

The idea of a child not having food in their belly’s or presents to open Christmas morning is heartbreaking. Throughout the holiday season the Salvation Army, American Red Cross, and other religious organizations work especially hard to make the season great for all walks of life. Life insurance is a good vehicle to help these organizations continue to provide their services as well as give the consumer a tax break.

Many Americans donate to charities on an annual basis. What better way to donate to a charity than with life insurance. The donor can take an annual deduction of the premium amounts paid to the charity and at death; the charity (as the beneficiary) will reap the benefit of a lump sum tax free donation that is exponentially larger than the premiums paid. Using insurance vehicles is a great way to continue to support charitable organizations through tough times, busy times, and the holidays. Have you thought about using pennies to make dollars for your favorite organization?

A few years ago, a piece of federal legislation was signed into law that took effect earlier this year. This is called the Pension Protection Act which involves various aspects of the tax code, but one area that may be important to you involves annuities and long-term care protection.

Specific provisions of the legislation provide unique tax advantages for deferred annuities used to fund long-term care expenses. This means when cash value withdrawals from certain non-qualified annuities are used to pay for long-term care expenses, those amounts will no longer be considered taxable income!

These very specific annuity contracts that include long-term care coverage must be qualified under the Health Insurance Portability and Accountability Act (or HIPAA) and are offered by very few insurance carriers. To find out if your current contract allows for these provisions under IRC Section 7702B(b), ask an insurance professional to point out the language on your policy page referring to that piece of code.

1. Your prescription medications. Take at least a week’s supply in your carry-on (in case your luggage is lost). Anything beyond a week’s supply can be packed in your checked luggage.

2. Other prescription medications. Depending on your destination and personal medical history, consider asking your doctor about taking along antimalarial medications and an antibiotic for self-treatment of moderate to severe gastrointestinal issues.

3. Gastrointestinal medications (for example, bismuth subsalicylate or loperamide), a mild laxative, and an antacid.

4. Allergy medications, such as antihistamine and 1% hydrocortisone cream for mild allergic reactions. If you or a traveling companion has a history of severe allergic reaction, bring an epinephrine auto-injector (such as EpiPen). (This is a prescription item, so if you don’t already have one, talk with your doctor.)

5. Cold-symptom medications, including a decongestant and throat lozenges.

6. Motion sickness medication.

7. Pain relievers like acetaminophen, aspirin, or ibuprofen.

8. Antifungal and antibacterial ointments.

9. Lubricating eye drops.

10. First-aid items like adhesive bandages, gauze, an elastic bandage, antiseptic, tweezers, scissors, cotton-tipped applicators, and a first-aid book.

Planning The Vacation
Instead of venturing alone into the planning stages of a destination you have never been, why not consult an expert? it is always a good idea to contact a travel agent. Various agents have access to special packages and discounts for senior citizens. They can provide you with time and money saving trips for tours, accommodations and dining. You can also consult the agent for the best destinations and the requisite items to carry. They can provide travel insurance that covers medical expenses and also other unexpected losses or cancellations.

Budget
Planning the budget is of utmost importance. Even your selection of the destination should depend on the extent and flexibility of the budget. Always plan the budget keeping in mind sudden expenses and make it as flexible as possible. Don’t carry too much cash. Instead, take travelers checks and credit cards. Always keep these in your wallet and bags. Traveling with friends or in tour groups is also a cost effective way to save money. Making travel plans online and last minute can also help you score huge deals!

Documents
Carry all the appropriate documents like identity cards, passports, visas, drivers license, proof of residence, etc. Most travelers face hassles for not carrying the proper documents. Make photocopies of all the documents and keep a set at home. Take out the original documents when absolutely necessary. Ensure that all your documents are valid. Keep all the documents in a separate bag for easy access.

Check Your Health
Before the trip, get a thorough medical checkup. Travel only if you are fit so that you avoid being on a tour of the hospitals in that country instead of the tourist attractions. Consult with your doctor if any climatic and diet changes will have any harmful effect on your existing medical condition. Get vaccinations if it is required. Take enough medication so that you don’t have to buy it in another country. Your doctor may also refer you to a doctor in that country, so always keep that contact information with you.

Packing Tips
Pack only what you need. Don’t burden yourself with excess luggage to facilitate mobility. Find out what the climate is like in the country you are visiting, and then pack accordingly. Take into account the climatic change. Keep all the day-to-day essentials in a separate bag so that you don’t have to unpack all of your luggage every day. Don’t take any expensive jewelry with you.

Summer is a great time to travel! Heading to northern countries rather than southern can also ensure ideal climate conditions. Plan ahead and stay safe!

Insurance companies are still able to offer competitive interest rates on fixed annuities. Depending on your objective, annuity contracts can be as short as one year or as long as ten years. The longer the contract, the higher the interest rate, but all of the current annuity rates are competitive.

Not only are fixed annuities able to offer competitive interest rates, but they also have the ability to generate an income stream, while preserving your initial deposit. This concept utilizes multiple annuities to create income, and includes one annuity that will grow tax-deferred back to your beginning balance. This allows you to take advantage of an income stream while still passing your original principal to your heirs or keeping it intact for later use.

Income riders offer another strategy for generating income from your annuity. These riders can be attached to your annuity contract to guarantee a steady stream of income that you cannot outlive. They also have the potential to produce increasing income to help you keep up with inflation, rising healthcare costs, and other cost-of-living increases.

Don’t be fooled by myths! Insurance contracts can offer a lot of flexibility. Some may offer complete liquidity with a return-of-premium feature, while others may offer waivers for nursing home confinement, terminal illness, and unemployment. With so many options available through insurance contracts, there is no reason to lose sleep. We can create a plan that is certain to meet your needs!

Whenever you feel like doing something, but do not have the time… take a notepad and write it down! Save this notepad away… this will be “100 things to do after I retire” list. Many times we forget to record our desires, and so end up forgetting them. Don’t let it happen to you!

Pursue your passions: Paint sunsets, sculpt , sing, learn Tai-chi, buy a telescope and explore the skies.

Read books on your interests, explore different genres like Science Fiction or Romance. Read on different topics like History or Geography .

Experience Nature: Walk less traveled paths, watch the moon, feel the wind on your face. Meditate on the sun-soaked grass. Have a picnic.

If you follow a religion: Devote your time to it, study and enhance your spirituality.

Have fun with you little ones: Your grandchildren will be your afterlife to you after retirement- you’ll live through them. It is worth taking out some of your valuable time for playing with them, watching them grow, helping them learn.

Take proper health care: Some of your time may be spent at the cardiologist or the podiatrist, depending on how healthy you are. Look after yourself.

Join special groups meant for your age group: You’ll find many people there passing through similar experiences. If you have problems they will provide you with support, and guidance.

Clean up the slate: It is best to resolve any misunderstandings, or resentments that might exist in others. You don’t want to die being misunderstood.

Write an autobiography: With your long years of experience, you will surely have a lot to share which will be immensely helpful to others. Even if you feel you have nothing to share, just start writing one, and you’ll be surprised at how freely the words will flow.