8 Tips to Help Seniors Conquer Stress - AGT The Safe Money People

As boomers retire from their jobs at unprecedented rates in the U.S., you’d think they’d be spending their free time with friends, lingering over the morning newspaper and coffee or taking January vacations in a warm place. But many seniors are finding themselves in a predicament that few anticipate in retirement: parenting for a second time. Census reports indicate that 2.7 million grandparents are responsible for their grandchildren. Their added duties may be fulfilling, but they may be stressful, too.

In fact, many things can trigger stress among retired adults — paying bills on a fixed income, failing health, caring for ill parents or spouses, or even grandparenting. Excessive stress can lead to serious health problems.

“When stressed, the body releases substances such as cortisol and adrenaline that affect every organ and can cause muscle tension, insulin secretion and increased heart rate,” said Arthur Hayward, M.D., a geriatrician and the clinical lead physician for elder care with Kaiser Permanente’s Care Management Institute.

“You can’t avoid stress, but managing it can help preserve your health and well-being,” Dr. Hayward added. He recommends identifying and understanding the cause of your stress and finding ways to relieve it, such as these eight tips:

1. Pace yourself. Don’t take on too much. Be aware of your limitations.
2. Set realistic goals and expectations, and don’t be afraid to ask for help.
3. Plan time for yourself. Recharge your batteries.
4. Exercise and eat a balanced diet. Get plenty of fruits, vegetables and whole grains.
5. Try relaxation techniques such as meditation or yoga.
6. Get enough sleep. If you have problems sleeping, talk to your doctor. Drinking caffeinated beverages and alcohol can affect your ability to get a good night’s sleep.
7. Talk with a loved one or write in a journal.
8. Stay positive. Positive thoughts can make a difference, such as “I am hopeful” or “Things will be better.”

For more information, go tokp.org/healthyaging. For questions or advice about a specific condition, talk to your physician.

How To Secure Income For Retirement | AGT The Safe Money People

Ten thousand Americans a day are turning 65, including a couple we’ll call Stu and Helen. In excellent health, Stu and Helen could be facing a retirement of 30 years — or even longer. One of their biggest fears about their impending retirement is their potential longevity — and running out of money to not only pay their bills, but enjoy their free time.

Stu and Helen participated in their companies’ 401(k) plans. Like many workers, neither has a traditional pension, so they are solely responsible for their own retirement security.

Fortunately, couples like Stu and Helen have options for creating a “personal pension.” By using some of their savings to purchase an annuity, they can guarantee a steady stream of income for life.

With an immediate annuity, they can make a lump-sum payment to a life insurance company, and the company will send them their choice of monthly, quarterly or annual payments. They can choose to receive the income payments over a specified number of years or as a guaranteed stream of income they can never outlive.

They could also consider purchasing a deferred annuity, which allows savings to grow tax-deferred during an accumulation phase until they decide when payouts begin. People who are years away from retirement — or who are retired but don’t need income right away — might choose this type of annuity.
With a deferred annuity they decide how their money grows during the accumulation phase. A fixed annuity earns interest at a guaranteed rate. An index annuity is tied to a market index like the S&P 500 stock price index.

Surveys show that 90 percent of annuity owners think annuities are an effective way to save for retirement. And annuities are among the most regulated financial products in the marketplace. From product development to advertising to sales, life insurers must comply with state and federal laws and rules that help prevent fraud and protect consumers. In addition, most states provide a “free look” period allowing customers to return annuities to the insurance company for a full or partial refund.

Planning for retirement can be stressful. But for retirees like Stu and Helen, the guaranteed income from annuities can provide peace-of-mind for a lifetime.