How to Budget Your Retirement

Retirement

After retirement a person will spend 20% less each month. There’s no need to pay Social Security payroll taxes, buy as many clothes or pay commuting costs. Furthermore, your household expenses will start to decline by 19% between the age of 65 and 75. Therefore, by the time you’ve reached 85 your household expenses have declined 34%.

Nevertheless, you still have monthly expenses that you must pay without a paycheck. Therefore, it’s important to make your retirement budget go further. After retirement, consider a few of these helpful retirement tips to make your retirement dollars go further.

Housing and Household Expenses

Housing has always been a major expense in any budget. But according to studies people over the age of 50 spend an average of 40 to 45 percent of their monthly income on housing and other home related items. However, this is one expense you can control once you’re retired. You can change how much you spend each month by:

1. Spending less to redecorate your home.
2. You can downsize your house and move into a smaller one.
3. You can relocate to a less expensive neighborhood.
4. Move to another state that has a lower cost of living.
5. You can consider taking a reverse mortgage out on your home and put the cash in your pocket.

Health Care Expenses

Everyone knows health care expenses increase with age. Therefore, when you grow older you’ll be faced with increasing out-of-pocket expenses for tests, prescriptions, non-prescription drugs, and dental work. Furthermore, your health care insurance will increase by 20% after you turn 80. However, you still have options that can lower these expenses.

If you invest now in a long-term health care plan you can save money after the age of 80. However, you’ll be paying higher premiums now, but later on you’ll save money on assisted-living or extensive nursing.

Paying Taxes

After retirement, you’ll no longer have payroll taxes to pay. However, you’ll still have to pay taxes on your retirement and Social Security benefits. Furthermore, once you start withdrawing funds from your IRA you’ll need to pay taxes on this money. But you can still control the amount of money you pay each year in taxes. Consider moving to a state that gives retirees a tax break.

Monthly Transportation

After retirement, you’ll save quite a bit of money for monthly parking and commuting. However, you’ll still need to budget for doctor or dentist appointment and shopping. However, you can still control this expense by downsizing from two cars to one. Furthermore, you can try taking public transportation to a few of your appointments.

Yearly Travel Expenses

Allstate did a survey of retirees and found that the younger retiree’s top priority is to travel. On an average baby Boomer’s plan to spend $7,700 annually, for four trips a year. However, travel is one expense you can easily control. Instead of staying in expensive hotels, plan on staying with your family and friend. Furthermore, you can try taking a train or bus to save even more.

What Would Make Your Sore Feet Feel So Good?

Pedicure

Summer is just around the corner and everyone will be putting away their closed toed shoes and bringing out their sandals. Unfortunately, after a long winter your feet won’t be ready for the summer ahead. Therefore, it is necessary to pick up the phone and make your reservation early. Looking your best this summer means that your feet have to look good too. What better way to prepare your feet for summer than a pedicure?

Did you know that over 4,000 years ago in ancient Babylonia times they knew the luxury of a pedicure and indulged in this pleasure? Even as far back as 3000 BC the Chinese practiced the art of pampering their feet and hands by painting their toenails and fingernails. Royalty has always been pampered by their chamber maids who took care of their feet, clipped their toenails, and remove the dead skin from the bottom of their feet. However, today we have plenty of wonderful spas that pamper us and make us feel like royalty.

Why do you need a pedicure?

1. Your feet will relax as they soak in the warm tub of bubbly water.
2. Messaging your feet relieves the tension and stress.
3. Your feet start to relax and the soreness disappears.
4. The bright color polish gives you a warm feeling inside.

Furthermore, pedicures have other health benefits:

1. You are preventing your toenails from getting infected.
2. You no longer have to worry about ingrown toenails.
3. Pedicures removed bacteria and dirt from your feet and under your toenails.
4. Your toenails are healthy and you reduce the risk of toe trauma.
5. If your feet have developed corns from wearing heels, a pedicure can remove these corns and make your feet feel so good.
6. The oils and lotions used by the spa help to prevent dry skin and make your feet feel so soft.
7. As the person massages your feet, they start to tingle as the blood circulates around your ankles.
8. Wearing closed toed shoes can cause fungus and infections around your toenails. With a pedicure this is easily prevented and your toes and feet are so healthy.

In Conclusion:

Ladies, don’t wait. Pick up the phone today and make your reservation at your local spa. A pedicure is a must for summer. You need your feet looking their best. What better way to bring in summer than with brightly painted toenails?

You will look very stylish as you walk on the beach with your beautifully painted toes. Don’t forget your feet will thank you for taking such good care of them. It is necessary to take care of your feet; they are one of the most important parts of your body. If your feet ache and hurt it makes it difficult to enjoy summer.

5 Ways to Save Money on Gas

T

Gas Pump

he price of gas has steadily increased over the last few years. Consumers current pay extremely high prices for gas. Unfortunately, oil companies’ claim the cost of crude oil has driven up the price of gas. However, over the past few years we’ve seen crude oil prices fall. The prices at the gas pumps don’t reflect the decline of oil prices. Therefore, it’s necessary to regain control of your monthly budget when buying gas. Follow these five simple steps to find the best gas prices.

Use the Internet to search for the lowest gas prices.

Before leaving your home check the information superhighway for gas prices in your area. GasBuddy is your friend when it comes to finding lower gas prices. The site has over 12 million registered members that post the lowest gas prices in their area.

Furthermore, the site is easy to use. Just enter your zip code and you’ll find the lowest gas prices in your area. However, if you’re traveling, it’s easy to find the lowest gas prices on the road. Just enter the city or state and the site displays current gas prices in your area. Furthermore, download the mobile app to your smartphone so you’ll always know where to fill up your tank.

Target the gas stations to find the best time to buy gas.

Be smart and don’t wait until your gas tank is empty. Instead, start shopping around for gas when your gas gauge reaches a quarter of a tank. By planning ahead, you can save money at the pumps. Furthermore, most motorists find that gas prices are lower at night or just before dawn. Many gas stations raise their prices during rush hour traffic.

Improve your driving habits to save gas.

Driving at high speeds burns more gas than driving at lower speeds. Furthermore, quick starts and stops burn gas. If your car has a cruise control, use it. Cruise controls will improve your fuel consumption by 37%. Therefore, it’s important to change your driving habits to save money and gas.

1. Look ahead and anticipate traffic. Start slowing down before you reach the red light.
2. Turn off your engine if you’re stuck in traffic.
3. Use a GPS to find the best route to take.

Keep your car tuned up and running healthy.

Regular tune-ups keep your car running healthy. Furthermore, the proper air pressure in your tires lowers your gas mileage by 0.3%. Also, stop buying premium gas. Your car runs the same on regular gas. Finally, when driving around town don’t haul heavy loads in your trunk. Keep your car light to save on gas. Each 100 pounds of extra weight in your car will use 2% more gas.

Always redeem your gas rewards.

When buying gas for your car, know which credit cards offer you a rebate. Furthermore, some stores now offer a discount at the pumps once you accumulate 100 points.