Over-50

In Costa Rica, Martin Farber Lives on Social Security + Is Able to Save - But, That's Also Doable in U.S.

There are those who don't want to work for income after retirement. If all they have to pay their bills is Social Security, that might not be possible. Unless ...

The aging who are willing to relocate are discovering that it is not only possible to make it on Social Security but also to save some of their monthly paycheck.

Among them is former car salesperson in America Martin Farber.

His daughter, who have done volunteer work in Costa Rica, clued him in about what that nation had to offer, including a low-cost lifestyle.

After visiting Costa Rica a few times, Farber relocated there in 2014. His biggest expense is the $350 for a roundtrip off-season back to the U.S. now and then. Here are more details from MarketWatch. 

But the relocation doesn't have to be outside the U.S. Usually those wanting to retire and to stay work-free find, yes, they have to move from where they did their career. Whether that was on the coasts or an expensive city like Chicago, the fixed expenses are no longer affordable. 

If they research, they will unlock the bargain locations in the U.S.

For example, Toledo, Ohio, right on Lake Erie, is unusually low-cost. Rent for a one-bedroom in the West part of the city can be under $500. Old cars are okay since neither an inspection nor an emissions test is required. As a midsized city, there is plenty to do that is free or provides senior discounts. For example, becoming a member of the Toledo Museum of Art for seniors is only $40 annually. A major university is also based in the city. 

However, as with everything else, things change. What used to be retiree paradise - Tucson, Arizona - has become pricey. Part of that is because of the influx of the middle class from California who can no longer manage the cost of housing. To them, Tucson is cool enough (not in temperature, of course).

Instead of Tucson, on the border of Mexico Sierra Vista, AZ continues to provide rental bargains, though. At least right now. And dental tourism is available across the border in Nogales, Mexico. Passports are not needed. So, getting dental work performed on the cheap without having it invest in a passport represents an additional saving. Just bring a birth certificate and driver's license. Cross the border on foot, leaving the car in a fast food parking lot.

There also remain bargains in pockets of New Mexico, Alabama, Pennsylvania, and North Carolina. 

For those who are determined to stick in the U.S. here is a check list for relocation:

•  The culture. Can you fit in, without taking on too much protective coloring? Spend a vacation there and push interacting with the natives. Is it possible to make new friends? In itself that tends to be difficult for the aging who don't go to work.
•  Average cost of home ownership or apartment rentals and documentation of the past five years how much taxes have increased or rents gone up. Beware of low teaser rates on rentals.
•  Grocery prices. Those can really eat into a budget, pun intended.
•  Department of Motor Vehicles policies about inspection and emission tests. Fixing up the car to pass can run thousands of dollars. 
•  Availability of public transportation. Ideal is not needing a car. Do Uber and Lyft operate there?
• Healthcare facilities. A small town in X may be dirt cheap but not recommended for those with current serious health problems.
•  Low-cost leisure activities. It's smart to be near a university. 
•  Not highly vulnerable to the extreme weather of climate change.
•  Proximity to cool locations to get away to for day trips. Motels, even the discount ones such as Motel 6, can set back a budget.
•  Work opportunities, in case there is a change of mindset about no longer working. Both Toledo and Youngstown Ohio are low-cost but the former seems to have more jobs at better pay and less age bias. 

Meanwhile, to get ready for the relocation step, here, free to download, is my book on exiting a comfort zone. 

Coaching, lecturing, and writing/ghostwriting thought leadership content on aging.

 For individual coaching – sliding scale fees. Complimentary initial consultation. The displaced over-50 get back to work. Please contact Jane Genova janegenova374@gmail.com.

 

 

Sure Baby Boomers Face Age Bias, But Millennials Are in Unique Financial Pickle

The next recession, warns Annie Lowrey in The Atlantic, could topple Millennials into the financial point of no return - that is, no real shot at building financial security. 

Sure, Baby Boomers encounter bias when they seek income from working. And, more of those who have retired find they need to return to the workforce to make ends meet. The Federal Reserve documents that one-third of those who rode into the sunset have been riding back into the harsh light of a labor market tilted against age. 

But Baby Boomers' peak years were during economic and stock market booms. Jobs paid well. College and even professional degrees had low cost tuition. That means big student loan debt wasn't standard. Renting and utilities were cheap. Employers had retirement plans. A fixer-upper house could be purchased for peanuts.

Millennials, in general, have only known struggle. 

As Lowrey documents, they entered the worst job market in 80 years. To get in and stay in they competed against seasoned older workers who pulled out all stops to continue being employed.

When working, Millennials earn 10% less than Baby Boomers. About 2/3rds have no real savings. Only 37% own stock currently. In addition, if Social Security is still around, their monthly check will not be high because their earnings aren't high. Also, there is the massive problem of student loan debt. Interest keeps growing on those loans from undergraduate, graduate, and professional school. Yes, there remains blind faith in higher education. 

Meanwhile, Baby Boomers are not really sitting pretty, of course.

Because of relatively high earnings, they are targets for layoffs. If their get the boot and lose their employer-funded medical insurance what they purchase will be high because of their age. Medicare doesn't kick in until age 65.

For work, their best bet is the gig economy or launching a business/purchasing a franchise. But to adjust to that new reality, they will have to take a leap out of the comfort zone. Here, free to download, is my book on that.

In addition, more and more Baby Boomers get it that they can no longer afford to live in the locations where they did their careers. Relocation is soul-wrenching, not an adventure. And, although media outlets position and package doing the golden years aboard, that represents a challenge many can't master. 

Baby Boomers unable to find work might shift their mindsets and strategies about earning a living. Here, also free to click open, is my guide to all that Download Outwitting ageism.

Not getting results from your marketing communications? Complimentary consultation – janegenova374@gmail.com

Would Mary Richards Have Friends Today?

The lack of common ground isn't just in politics in America.

In more and more aspects of life there also is less and less common space.

That's what Matthew Walther observes in his article on loneliness in The Week. That puts the odds against finding other human beings we can become friends with. The crisis of loneliness deepens.

According to YouGov, 30% of U.S. millennials say they are lonely and 20% contend they have no friends. What it's come to, notes Walther, is that we "pretend pets are people."

So, let's look at what used to be common space and is no more. Here are 5 examples I find useful to focus on and why they have disappeared:

•  Home. Walther hammers that raising a family is no longer affordable. Those connections have gone the way of the low-IQ phone. More of us live alone. But, sure, it had been possible to make friends even when single. Remember how Mary Richards and Rhoda, both in their own apartments, developed a deep relationship. Now, after all the stress from the whatever, we singles are not reaching out. Meanwhile, we are trapped in an i-world of messaging, movies, and games. 
• College. Forget it. As Yale professor Deresiewicz captures in "Excellent Sheep," higher education, especially at the top of the food chain, has become a competitive arena for high grades. Chasing after them makes the time-consuming process of developing friendships unlikely. Also, the postings of all the other students on Instagram are a source of feeling less-than. Best to steer clear of the whole people thing. 
•  Work. Who isn't after our job? And there are simply many more rats eager to gain favor with superiors by carrying tales about us. Maybe this saga is true, maybe it isn't. In northeast Ohio a millennial claims the reason she was fired was because she confided in a co-worker her battle with clinical depression and anxiety.
•  The store. No one goes there any more, not even for groceries, which are delivered.
•  Church. Gallup documents that membership in a religious organization is down to 50%. From 1937 through the late 1970s it was at 70+%.  

However, if we are determined not to be so so lonely, we can explore where common space can be. Here is what I have discovered is promising during the 63 months I have struggled to find companionship since I uprooted from the New York Metro area:

•  Gyms. Both those stand-alone ones and the in-house fitness centers in residential complexes are wide open to socializing. If we are cautious and don't push too hard too soon to move the gymbuddyness to the next level we could wind up with a few people to talk with. 
•  Recovery meetings. The friendship, or as it is called the "fellowship," is the key driver in attending regularly.  It's like the good old days, with folks inviting us to go out for coffee or have fun at pig roasts by the lake.
•  Wellness groups, ranging from yoga to meditation. People feel they are doing the right thing and are more receptive to welcome those also pursuing healthy goals.
•  Pet parks. I have witnessed romances blossom as the canines tend to bring people together. Here a tail wags, there a tail wags. Soon we are not alone. 
•  Goodwill and consignment stores. Traditional retail is out. But hunting in-person for steep bargains has become a national hobby. In that space it's easy to get conversations going which often move on to human beings sharing their stories.

However, even with these tactics, expect a slow journey to being back in a friendship loop. Interacting is, well, counter-trend. The trend is i-immersion. 

Not getting results from your marketing communications? Complimentary consultation – janegenova374@gmail.com.

 

What's Being Called "Trump Crash" - What Are Options for the Over-50?

As the second decade of the 21st century nears a wrap (December 31st seems like tomorrow), everything is changing fast. 

At the top of the list are plans we over-50 have been considering about our financial security, career paths, and even continuing to live in the U.S. where rents consume a larger and larger proportion of our income. 

So much uncertainty. 

It's just before noon, New York Time. What do we do right now?

Answer: Stay calm. Don't make any decision which doesn't have to be made today. Sure, there's what is called the Trump Crash.

The Dow Jones is in the toilet, with trade tensions poised to drive it down more.

But that's just one cloud hovering over our financial security. The other is slowing global growth. Could there be a repeat of 2008? No one knows. That includes us.

So, leap into action isn't what we should be doing.

Next, we have to pay attention to our work situations, if we are not retired. If we are retired, we might be among the one-third of retirees the Federal Reserve documents have bounced back into the workforce.

Reality is that for many reasons we have targets on our back, whether we are an employee, contract worker, or self-employed player hunting for new business. We have to address this.

Maybe that entails a simple thing like putting in more face time. Or, it could be a lot more complex like doing a career change. Here, free to click open, is my book on how to land, hold, and more on to better work, no matter our age Download Outwitting ageism.

And third, we do have the option of downsizing our lifestyle. There are myriad buzzwords popping up for that. They include:

• Minimalism
• Radical Savings
• Renunciation of materialism
• Vow of poverty
• FIRE

A fourth option - and none of these are mutually exclusive - is to learn how to "clear the channel" in our heads. That allows focus. Some people do that through prayer, that is, opening the soul to whatever we consider a higher power. Others read an article or watch a video on the internet about meditation. 

And, five, it's always possible and rarely not helpful to recall that we are on planet earth because we got through other messes like the Crash of 2008.

If you have a story to share, please contact janegenova374@gmail.com

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Yes, the Department of Justice Investigation of BigTech Can Affect You

It is a possible earthquake for investors and the leadership of BigTech. Wealth, power, influence, and how business is conducted can be reconfigured. The sector may never have another golden age. 

And one wonders if the aftershocks will include criminal accusations against BigTech executives, as have happened in pharma and food. Lawyers, such as the chief compliance officer James Barclay at pharma company Miami-Luken, could be the first to get collared. 

Today, the Department of Justice issued a press release. That announced that its Antitrust Division is focusing on the "practices of market-leading online platforms."

The Division will investigate two major issues. One is how the platforms achieved power.

The other is if they are involved in practices which "have reduced competition, stifled innovation, or otherwise harmed consumers."

The immediate impacts of this announcement can be huge. For example, as MarketWatch reports, in after-hours trading, there was a decline in the stock prices of Apple, Amazon, Facebook, and Google.

Depending on how spooked investors become, that could drag down the overall market. Is the bull run finally over?

Those depending on the stocks in their portfolios for retirement might have to remain working. Those who are retired might have go back to work, as the Federal Reserve documents, like one-third of all the other retirees have already done. 

Smaller competitors in the tech sector will now see niches they can break into. Those needing partners and services might invite them in.

The best and brightest might not chase careers in BigTech - or even business. Who knows, as when John F. Kennedy became U.S. president, there might be a return to selflessness. Baby Boomers recall when Kennedy told youth not to ask what your country can do for you, ask what you can do for your country.

And, after the cleanup is complete post-investigation, capitalism might be very different. That's anticipated. At Harvard Business School there is an elective: Reimagining Capitalism.

Among those with nothing to lose or gain in this development, the happy fantasy could be envisioning members of the BigTech leadership in handcuffs. MarketWatch notes that Facebook is a special target in the investigation.

Not getting results from your marketing communications? Complimentary consultation – janegenova374@gmail.com.

 

Retirement/Semi-Retirement - Those Large Unplanned Expenses Can Be Planned For

Before and during retirement/semi-retirement what keeps the aging up at night is this: They anticipate and fear those large unplanned for expenses. Here Darrow Kirkpatrick discusses them in MarketWatch.

However, those unplanned expenses can be planned for and/or absorbed through continuing to work. Regarding the latter, the Federal Reserve documents that already 30% of those who have retired have returned to work. Moreover, the new status symbol among the aging is working. 

Let's look at some of the so-called unplanned expenses MarketWatch presents.

Maintaining a house. That's an easy one. Instead, wait until the real estate market is right, sell the house, and rent. There are growing options in subsidized rentals for those over a certain age. Also, merely relocating from a pricey region such as the New York Metro area or Boston to Alabama or southern Arizona can reduce rent by half or more. 

Owning a house makes the aging sitting ducks for whoppers of bills. Those range from damage from a natural disaster not fully covered by insurance to the ongoing increases in property taxes in a good school district.

Dental. That can be managed by shopping around for good dental insurance. Medicare supplemental insurance usually offers that for an extra monthly fee. The savings can be considerable.

For extensive dental work there is the option of dental tourism. That's available, for example, in northern Mexico near the borders of southwestern Arizona and parts of California. A hard mouth guard to prevent damage from teeth-grinding at night can cost less than a third of the fee at a U.S. dentist. Dental tourists can find low-cost motels nearby. That journey can also be enjoyed as a vacation.

Medical. It is smart to wait until age 65 to leave a job with medical coverage. That's when Medicare kicks in. The Medicare Supplement could limit out of pocket expenses to about $6,000.

Another option is Medical Tourism. Around the world the cost of healthcare is usually lower than in the U.S. Research will turn up where that care is high quality.

Also, some nations allow those emigrating there to participate in the national healthcare plan for a fee. Or, it is possible to relocate in one of those nations and purchase health care services a la carte. They are bound to be less expensive than in the U.S. 

Transportation. A major repair can be 4 figures. Also, the upkeep, including even the oil changes, can run up a significant bill. The option is to relocate to where there is reliable affordable public transportation. That should be factored into retirement relocation plans. It's big. 

For emergencies there is Uber. For get-aways there can be discount auto rental services. They go by the names such as "Rent a Wreck."

Electronics. In retirement or a downsized career path, why are folks buying smartphones? They cost between $500 and $1,000. Plus the service fee can also be a budget-challenger.

A phone with a low IQ - that is not exactly a dumb phone- runs about $70. It does have features such as texting, voice mail, a primitive camera, and so on. The AT&T service fee, if billed on a credit card monthly, is about $30. A low IQ phone also shakes folks out screen addiction.

Public libraries provide free access to laptops including WiFi. The system in the Youngstown, Ohio Metro area also offers free scanning and email services. 

Family. Usually that's a psychological, not a financial, issue. The message has to be delivered: We are on a strict budget. Renting versus home ownership discourages relatives from visiting too long or deciding to stay. 

Legal. In this digital age, many standard legal procedures can be handled Do It Yourself (DYI) or by purchasing affordable forms and a bit of lawyer's time from the online consumer services. They range from LegalZoom to RocketLawyer. Among what can be wrapped up at no or low cost are wills, simple divorces, and forming the LLC (limited liability company) for a startup. 

Also, it makes solid financial sense not to invite legal problems. That means not being assertive about politics in a bar, driving within the speed limit and without any alcohol or drugs, muzzling dogs on walks which have even bitten once and so on.

For litigation and criminal procedures more are doing a DYI or at least starting out that way. That's called pro se litigation. Many courts are bending over backwards to assist the pro se litigator. The law can be understood. When those doing a pro se hit a wall, they can then seek out a lawyer. That dynamic is happening more and more. Therefore, law firms are providing a la carte services to pick up where the pro se litigant had to leave off. 

If none of the above applies, take advantage of the complimentary consultations with several lawyers. Ask directly about fees. Find out which attorneys will operate on a contingency basis. That is, they represent the plaintiff free for a percentage of the verdict or settlement. 

In addition, there is always the work option. Here is my book, free to click open, how to land, hold, and move on to better work, at any age Download Outwitting ageism.

Retirement/semi-retirement can go on for 30 or 40 years. That span of time need not be filled with financial angst.

Exactly the right tone and content for all your communications. Complimentary consultation janegenova374@gmail.com.

 

What U.S. Baby Boomers & iGens in Japan/Europe Have in Common

Two generations have gotten badly burned by financial upheavals. 

Those are we Baby Boomers in the U.S. and iGens (those born in the mid 1990s and beyond) in Japan and Europe.

As a result, reports Bloomberg, both our generations have developed a mindset of frugality. That entails everything from a predisposition not to spend money at all to shopping in thrift stores versus traditional retail.

We Baby Boomers experienced the Perfect Storm.

There we had been the generation who benefited by the post-war economic boom. We were the first generation in America to attend college en masse. U.S Corporate America was growing and even we females were becoming members of The Professional Class. We not only grabbed onto the American Dream of home ownership. We purchased getaways.

That was then. 

Soon our nest eggs took a gigantic hit in the stock market crashes of the early 21st century and 2008. Age bias in the workplace forced us out. We went from being in-demand to unable to land any well-paying job. Some of us haven't worked since The Great Recession. Others had to start over again. Here, free to download, is my guide on pulling that off Download Outwitting ageism.

Both Japan and Europe suffered dramatic reversals of economic fortune. In those regions iGens saw their parents lose jobs - and their sense of self. The labor market didn't offer youth much opportunity either. It was a closed systems. Members of iGen never experienced affluence. 

Essentially, both ends of the generational mix have embraced minimalism. We can get by without big materialistic dreams. We have no hope of making a big killing and catapulting to the good life. We take it day by day. We just want to make ends meet. Homelessness isn't unthinkable.

Of course, that reduction in consumer spending could negatively affect economies. That's why Bloomberg is covering the subject.

To replace that there has to be a generation which decides to return to conspicuous consumption. If they are influencers they can make frugality appear to be unpatriotic. Spending excessively could become, once again, a national religion.

Exactly the right tone and content for all your communications. Complimentary consultation janegenova374@gmail.com.

 

That Career Is Over - So?

" … [Madonna'] 'Medellin' failed to catch on. It rose to number 9 on iTunes briefly, and now sits at number 32 … Beyoncé's 'Homecoming' album, released the same day, has sold or streamed a total of 43,000 copies in 48 hours." - ShowBiz411, April 19, 2019. Here is the article. 

Here is the audio - chachacha - from "Medellin," which is the lead-in to Madonna's new album "Madame X." Out in mid June, "Madame X" is supposed to be the 60-year-old's comeback platform. 

Nothing about "Medellin" is fresh.

That's why Madonna is being positioned and packaged as "washed up."

It isn't her age per se.

Betty White, a relic from the Mary Tyler Moore era, is in her 90s. She did fresh. That was through creating the persona as the designated role model for aging. That process, she hammered in her book, wasn't for sissies. The world loved it. Still love it. She remains marketable.

The issue Madonna raises is the scary question for all aging who are still working: Is it time to leave?

But what they are leaving might well be a very narrow career path. No, it isn't necessary to hang it all up, disappear into a retirement community in Oro Valley, Arizona, and compulsively do yoga. 

ShowBiz411 points out that the last several albums Madonna has put out have been "flops." 

Instead of continuing to do what isn't panning out, she could be testing out other ways to distinguish herself through work.

Maybe she can launch a training institution for the performing arts in Lordstown, Ohio. GM recently shuttered the plant there, putting about 1,600 out of a good job and hope. She can open the door to the light for all the Youngstown, OH metro area. The region still is caught in the shadow of Steel Yesterday.

How do the aging and those no longer perceived as "young" come up with the courage to change?

I don't know about others.

What I do know is that for me the pain of becoming invisible was greater than the anxiety involved in trying out new lines of work. That experimentation in my professional life began when I was 58. Then, that same courage took over the decisions I made in my personal life. Here is one of those stories of brutal moments of clarity and then transition.

A useful read for those caught between career paths is "Necessary Endings" by executive coach Henry Cloud. Here you can order it from Amazon.

Exactly the right tone and content for all your communications. Complimentary consultation janegenova374@gmail.com.

Status - Breaking Free, Finally

The post-war economic boom.

That rising tide lifted the boats of so many of us kids from low-income families. We wound up going to college and making more in a year than our parents did in 20 years.

With that came the burden of status. We had to work at brandname corporations or professional services firms. Entrepreneurship hadn't caught on yet. There were the right neighborhoods. Upscale cars. 

That was then.

Now, as part of The New Aging or living for years and years we are shaking off the status imperative. Some of us have to. Some have simply had it with all that. 

About 18 months here in Ohio, I applied for a part-time job at a pawn shop. I was crushed that I wasn't hired. All those interesting characters I could have met.

When I relocate to Arizona in the fall I will try again. The odds are I will be hired. There's less age bias there. Simultaneously, I will also operate my communications and coaching boutique. 

Friends my age have been breaking free in similar ways. One is struggling to nail down a job manning the counter in a jewelry store. Eventually she wants to make jewelry. For several years another has been driving a school bus. A year ago a third got his license for handling a big rig. 

The question we ask ourselves is this: If status were available again to us, would we grab it? Sure. That wasn't so bad. Now that we have had a break from it, we could go back. Freedom comes with knowing we don't need it.

Need affordable help strategically planning and putting together content? That ranges from blog posts and e-books to planning/scripting podcasts and creating traditional speeches. Complimentary consultation on how to generate influence and sell without paying high rates, janegenova374@gmail.com. 

Yeah, They're Gunning for Us

The research documents what we all have been observing.

The "system" will push more than half of us 50 years or older out of their jobs. And only 10% will ever make comparable money, at least from that kind of job. That research had been conducted by the Urban Institute and ProPublica. Here is a copy for you to read.

That's the reality.

Yes, employers are gunning for us.

The bias against age is severe. Here is the article I published in Odwyerpr.com.

A recent lawsuit claiming age bias is "Alan Laufer v. Pryor Cashman." At age 61, Alan Laufer was cut loose by his law firm. That was even though he was a top producer of revenues. Here is a copy of that litigation. The judge said it can move on to trial.

The good news is that for us aging this negative development is not our first rodeo. We have had plenty of experience with adversity since that day the commencement speaker told us to reach for the stars. 

Finding that first real job was hard. Adjusting to going to work harder. 

Relationships were continually changing. Yet, we had no training in how to navigate them. Marriages fell apart. Best friends let us down. 

Our graduate degrees didn't have the ROI we anticipated.

So, we have the mindset and problem-solving tools to also get through this one.

Here is what many of us have learned already about thriving financially in an economic and social system tilted against us. 

•  Downsize spending. If the children are headed for college, they may not be able to choose the college of their choice. Shop price. State schools are terrific with a good track record for job placement.
•  Watch the market for the ideal time to sell the family home. Home ownership brings high uncertainty about funds outflow. A natural disaster not covered adequately by insurance can wipe us out. 
•  Relocate to where the cost of living is lower. When I migrated from the New York Metro area to southwestern Arizona I cut my monthly nut of fixed expenses in half. Then when I moved with a client to eastern Ohio I cut another 10% off.
•  Develop multiple sources of income or side hustles. In AZ, in addition to the two businesses I was operating, I picked up three part-time jobs. I learned new technologies "on the company."
•  Make it your business to develop new skills. It is possible to start out on a fresh career path. 
•  Sell yourself to employers and prospective clients by hammering "Here's what I can do for you," not a laundry list of credentials. 

There is no reason to "be retired." There is also a buck to be made. Only, we have to pursue income in continually changing ways.

The tough nut to crack is embracing the ordeal of leaving our comfort zone. Here, free to click on, is my guide on that. It has more than a million downloads. So, you know you are certainly not alone in this pickle. 

And if you have been out of the game for a while, here's how to snap back to bringing in income, no matter what Download Outwitting ageism.

Career coaching for the over-50 available on a sliding scale fee structure. Here is my backgrounder Download BACKGROUNDERJaneGenovaCoachingOver-50. Complimentary consulation available - janegenova374@gmail.com.