Linda Mossman's Blog
511 Rochdale St, Auburn, MA 01501
7 Autumn Dr, Hudson, MA 01749
7 Autumn Dr, Hudson, MA 01749
Depending on how many years you’ve been working, retirement can seem like it’s too far in the future to worry about or too close to be able to effectively make any real change.
However, retirement is about more than doing the math and investment planning. Retirement includes making several life decisions, and considering things you may not have thought of before.
In this article, we’re going to talk about planning aspects of your retirement including your home and assets, your savings and investments, and setting and achieving goals for yourself.
Pay yourself first
If it feels like your paycheck is spent before you get a chance to set any aside each week, you’re not alone. However, it’s never too late to start setting aside money for retirement. The “pay yourself first” theory states that you should set aside a certain amount for bills, savings, and retirement plans before you spend a dime of your paycheck each week.
The easiest way to achieve this is to take advantage of an employer-based contribution matching program such as a 401K. However, if you are self-employed you can still open up an individual retirement account (IRA) or a Solo 401K. With an IRA, you determine where you want to invest your money, and can choose safer or riskier investments based on your own preferences.
Draw up your plan, literally
There’s no better way to start planning than to actually sit down with a notebook or your computer and start figuring out what you want to save and how you want to achieve those savings.
You’ll want to determine how much money you can accrue in your savings account, estimate the price of your assets and properties, and look at the projected return on investment for any IRAs or 401Ks you have in place.
As you likely know, these numbers are all projections. There’s no way to know for sure how much your home will be worth, or how well your investments will do by the time you’re ready to retire.
So, one of the most important aspects of making this checklist is to return to it yearly to determine if you should change your investments or alter your retirement goals.
Determine your lifestyle needs
Whether you have dreams of settling down in a quiet town for retirement, touring the country in an RV, or traveling the world, you’ll need to find out how you can make it possible on your retirement plan.
You and your spouse will need to sit down and draw up a plan for your mutual retirement goals. Determine which expenses you can do away with in retirement so that you can fulfill other goals. Having these conversations now will help you more effectively plan for the future. And, remember that the time of your retirement is always closer than you think.
Rising global populations are fueling opportunities to create innovative ways to reduce energy consumption. Growing populations are also pushing thought leaders to develop products that save time, lower stress and make homes safer. Technology is at the center of these developments. The trendy term for these new products is smart home technology.
Cool home product redesigns
New smart home technologies are being developed at a speed that can, at times, feel alarming. Other times, new product developments don't seem to happen fast enough. Some smart home devices are merely redesigns on traditional equipment.
Examples of these products are computer keyboards, flash drives and kitchen bottle openers. Redesigned computer keyboards wipe away worry that you're keyboard will become permanently damaged should it get wet. In fact, redesigned keyboards can withstand a washing.
Flash drives that are redesigned display the name of files stored on them. You can click arrows on redesigned flash drives until you find the file you're looking for. Thanks to redesigned bottle openers, you won't have to waste time searching for a bottle top. The cap stays in the opener until you discard the cap permanently.
Emerging smart home devices
As cool as those smart home devices are, they aren't innovative from the bottom up. Totally new smart home devices offer optimum advantages. Check out these smart home devices that may soon become top trends.
Amazon Echo - If you've ever felt frustrated as you raced through your house in search of a smart home device, you might love the Amazon Echo. With the Echo, you simply speak commands and the device will go to work for you. It works as a central point of control for your other smart home devices.
Wireless lighting - Years ago, it was hand clapping lights. Now, it's wireless lighting.Smart home wireless devices let you brighten or dim light levels at your house by pressing a control panel. Link smart light bulbs to the device so you can adjust light levels throughout your house.
Window Treatments - Similar to a television remote control, window treatment remotes lower and raise shades and blinds. Protections offered with window treatment remote controls are physical safety, particularly for children. Because you don't need to open and close window treatments with a cord, you can install cordless blinds,shades and other window treatments throughout your home.
Trash receptacles - You can truly live clutter free with a smart trash can. The can rest on wheels. Intelligence built into trash receptacles leads the can toward trash that you're tossing in the can's direction. Get this receptacle and you could easily watch the number of times that trash lands on the floor decrease.
Smart home devices that don't operate on electricity can become true energy savers. Other smart home devices reduce frustration and stress, removing the need to hunt for products. These devices also help homeowners to shorten the time that it takes to go from bed to a vehicle and work.
The one challenge that developing products could create is an appetite for continual learning. People who use new home technologies will have to keep up with steps on how to operate and connect cyber and hand-held tools. The outcome could be inspiring. After all, it's through ongoing learning that homeowners discover how they can redesign, upgrade and structure their houses to meet their personal changing needs and wants.