Saving Money For The Golden Years

March 10, 2008

Saving Money For The Golden Years

Posted by: admin : Category: Women

Father and daughter sat at angles to each other at the kitchen table, simply because of the contour of the room and the table being up against a wall, and not for any animosities toward each other. Following some discussion regarding family, the essence of life, youth, parenthood, the general being of things, some of not so great importance, and time itself, the father said, “And the older you get, the faster it goes.”

The young daughter tried not to show ignorance or introduce any juvenile comment which she knew her father wouldn’t understand, but thought to herself, “What in the world is he talking about? I know he’s not senile, far from it. But sometimes the things he comes out with makes me wonder. What does he possibly mean, “… the older you get, the faster it goes.” Sounds like nonsense to me. It goes the same way all the time.” And then she thought of other clichés she heard about time. “Time waits for no one.”, and “Time flies.” “I guess he meant to say the last one, “time flies.”

The time now is some forty years later and the once young daughter is herself forty years older. The father passed away many years ago but strong memories linger in the daughter’s mind and one in particular was the day he said those words to her. Now, at seventy, having lived six years beyond the age of her dear father, she knew only too well what his words meant. Time was passing rather quickly now even though the days, full of idleness for want of strength and tasks to do, seemed longer, the months were whizzing by and all too soon another year would be gone.

Seventy. Some times, when saying the words describing her age, she repeated them to herself again and again in disbelief. “Here I am at seventy.” She would think of how many do not reach this age and yet, in the modern world of science it is more and more common for many to do so. But it was still a marvel, a wonder to behold. Looking back on all of the years, seventy of them and thinking of the chances of survival, she thought, “With the grace of the Good Lord, here I am and in good health.” She also wondered at the people who were even older than she. Knowing now even the merest of the demands time has set upon her body, she marveled at the older people that she saw from day to day going about their daily tasks and wondered even more how they did it and could she if she lived even longer.

It is almost inconceivable to even begin to think of how each day was lived, second by second, minute by minute, day by day, to total seventy years. And yet, it was. A paper sets forth the time and date and name of the birth of a child and from that point on the time is counted for that child. And, if fortunate enough, having traversed the road of life, its curves and crevices, its pit and downfalls, its dams and bridges, with some occasional smooth paths, flowery and elm tree lined, you muddle through, mustering even sicknesses and tragedies, you might be among the chosen to enjoy “The Golden Years.”

THE EYE-BLINDING SHINY

The parents of four children, having all gone well save for the “normal” ups an’ downs of a lifetime were able to feed, clothe and maintain a fairly decent life style for each of them. Before the new millennium, incomes were average and so were needs. The one family car sufficed, college, the dream of many for their children, was within reach and the home was solidly based. More importantly, employment was secure and whether company fostered or self-maintained, “extra” or the surplus of income, after obligations, was neatly tucked away at least for emergency and with a little bit of luck, for retirement. The maintenance of stock portfolios, retirement and investment funds proved fruitful and were not hampered with the “light touch” of skeevy undermining embezzling thieves.

Age of these parents brought on the inability to continue in the work force. However, these fortunate individuals, whether by the sheer ingenuity of scheming and planning for the future or a greater force of good fortune, entered into the later years of their lives with happiness and a firm sense of security, thus able to enjoy the eye-blinding shine of the Golden Years.

SLIGHTLY TARNISHED

Some though are not as fortunate as others. Try as they may, life seems to come at them fast as the commercial says. Even at the time of the nation’s prosperity many met life on a day-to-day or week-to-week basis. Many still do today. Friday, “The mighty eagle flies!” and the family eats well over the weekend. The cost of everything has risen out of proportion to the days gone bye standards. No longer does one pay check equal the month’s rent or mortgage payment. It has become necessary for both parents or couples to be wage earners. Likewise, the cost of everything has sky-rocketed, not merely “doubled”. Gone too are the consoling words that compared the product prices to the income of “the good old days.” The prices go up but the wages do not in proportion to the mathematics and standard statistics of years ago.

Given these circumstances many are left in “The Golden Years” un- prepared and in want. Now faced with not only the absence of a means to acquire income, but with, in many cases, illness and old age itself.

Some thought the imposed Social Security Act during Franklin Delano Roosevelt’s tenure would be the answer for their future. But even that, based on the figures of the era prove to be futile by way of income today.

Many are forced to live below standard in shoddy abodes if lucky to secure even that. Those that do not are forced to live on the streets, in alleys and make-shift tents and cardboard beds. Likewise they all must ration their food supply and can only dream of elaborate meals. Worst of all, because of these conditions the sick become sicker and the old age even quicker.

“The Golden Years” of these many less fortunate are tarnished.

But that does not stop time. Time continues on and on and, as was said, “The older you get, the faster it goes.”

PLANS FOR THE FUTURE

“As a child, I thought like a child …” sayeth the Bible. As a child one can’t possibly imagine the age of 60 or 70 … or for that matter, even 30. There is no conception of what you will be like, where you will be or who you will be with. More importantly, no one, no human being can predict the future (save, of course, if you believe in Nostradamus and even he was open to interpretation.) You can, however, attempt to prepare for whatever may befall you, good or bad.

Once you have crossed the borders of childhood it becomes your own responsibility to provide for yourself and, if you have taken upon yourself a family, then they too are yours to provide for.

It is quite alright to dream but in certain things dreams are not the answer and will not fulfill the needs. At the earliest possible moment, with the most immediate income available to you, you must begin to save, to plan for the future for it surely will come.

“BABY BOOMERS”

Reports are inundating the television newsrooms and the word is reaching the population. Apparently the “baby boomers” were booming and not saving. Current ecords reveal savings and retirement funds are inadequate for their approaching retirement years.

As said, no one can foretell the future and “the best laid plans of mice and men …” oft are battered at and torn down to the point of extinction. Not many were prepared for Black Friday or an Enron plot to deceive. However, it is always wise to plan for the future as the odds are in favor of attaining the point of completion as opposed to one-in-a-million disastrous downfalls mentioned.

PLAN(S) FOR THE FUTURE

-Begin with the obvious. Save. Set aside an amount within your means and, without fail, consistently deposit the amount weekly into a general savings account and withdraw only under dire circumstances. As an adage worthy of repeating said, “Pay yourself first before you pay anyone or anything else and save it.”

-Live within a planned budget.

-Limit credit cards and pay down balances.

-Work two years longer which will increase Social Security benefits. Check with the Social Security Administration for the status of your “account.” Be aware of any and all changes, deletions and/or additions that may be proposed regarding the Social Security Administration as they might affect your future income.

-Invest in life insurance and other plans that will mature in the future.

-Medicare Supplement plans.

-Final expense insurance.

-Fixed annuities.

-Individual and temporary health insurance.

-Dental coverage.

-Long term care insurance.

-Medicare Advantage health plans.

-Medicare Part D prescription drug plans.

-Max out 401K plans.

-Make sure no large medical bills are outstanding.

-Create a safety net. “Do not put all your eggs in one basket.”
Once you accumulate a sizeable sum, “spread the wealth” and open additional accounts insuring no disaster if one should fail.

-Refer to Online Calculator.

-Refer to IRS.GOV regarding IRAs.

-Change of life style if the situation demands it. Move to smaller quarters in less expensive neighborhoods. There is no stigma attached to persons facing reality and living within their means, proud and debt free.

-Dreams are wonderful but don’t get “hooked” on lottery tickets, Texas Hold-‘em Poker or the ponies. An occasional gambling splurge of a couple of bucks is one thing … but beware, an easy win can be addictive and shatter family relationships and those dreams before they even begin to exist.

THEY CAN BE “GOLDEN”

“Never put off until tomorrow what you can do today.”

The time is right now! Use the moment to examine your financial status. Good shape or bad? Adjustments to be made? Scrutinize every coin of income and determine what needs to be done to put your finances in a good condition. Set out a plan to follow whether by immediate action to begin saving or to contact financial advisors for assistance by telephone, internet or correspondence. Carefully research and investigate the hundreds of companies and agencies offering assistance to build a portfolio for you.

Time is precious use it carefully and wisely now. Before you know it or realize it, you will be face-to-face with “The Golden Years”.

Begin now … so they will shine for you in the future.

Cowbella’s Cue: Check Cowzy First! (CCF) for financial assistance. CCF for coupons, discounts and great deals that will afford you savings to tuck away for your Golden Years. Pennies you save on back-to-school items become dollars to be used in the plan for the future. Dollars you save on appliances and electronics add up quickly and will add to your future savings. Don’t delay … CCF … and get started now!

Rob Rivera/Edna Demato
Your Savings Community - Cowzy.com
http://www.cowzy.com

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