Spring 2018 Active Living: The Retirement Years

Spring 2018

Active Living: The Retirement Years Inside This Issue:

LIVING BETTER: Appetite for Adventure..........................2 Small Changes for Better Living............4 PERSONAL FINANCE: How to Pick a Retirement Account........5 Hobbies Can Make You Money in Retirement...........................................6

A Supplement to the Skagit Valley Herald And the Anacortes American

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rom your own hometown to the far reaches of the globe, there are thousands of destinations just waiting to be discovered by adventurous souls. Satisfying your itch to get out and explore may take you across town or across the ocean, but adhering to some common principles can make your travels extra rewarding.

Step outside your comfort zone and try new things, be it zip lining or sampling an unfamiliar food.

Follow your instincts, though, and keep safety first and foremost. Be wary of places that generally make you question your well-being, and never travel alone.

Capture the memories, whether in a journal or in pictures, so you can reflect and reminisce when you return back home.

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Gearing up properly is essential no matter where your travels take you.

Make sure you’re well-prepared for your next epic journey with these musthaves for adventurous travelers and find more travel-friendly advice at eLivingToday.com.

Let it roll Taking to the trails may mean you’re traveling by foot, but bicycling is another exciting way to explore.

However, an average street bike isn’t appropriate for most trails. A mountain bike outfitted with rugged tires designed for optimal traction

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and superior suspension is a much safer option. If you’ll be primarily on trails or doing downhill treks, a bike specifically geared for those conditions is best. Fat bikes are a good alternative for riders who want more year-round versatility.

Active Living | LIVING BETTER

Lay your head

Protect your feet

If you’ll be sleeping outdoors, a tent is a must to protect yourself from inclement weather and the less hospitable of Mother Nature’s creatures. The sizes, styles and options are plentiful, but features like rainproof material and ample ventilation are top picks for most adventurers. Other important considerations: seasonality, sleeping capacity and ease of assembly. Also keep transport in mind, and be sure your tent is no larger (or heavier) than what you can comfortably carry to your destination.

Proper footwear is vital for an active traveler, and hiking boots are among the leading choices for an adventurer. Proper fit and size are critical, as this affects whether your boot is providing adequate support without friction that can result in painful blisters. A good rule of thumb is to shop near the end of the day when your feet are most likely to be swollen and wear socks comparable to what you’ll wear on the trail.

Explore new lands The excitement doesn’t need to stop even if you need a break from the action. Escape into the thrilling world of bestselling author James Rollins’ “The Seventh Plague.” An archaeologist, missing for years, stumbles out of the Egyptian desert. He dies before he can explain, but his autopsy reveals his body began mummifying while he still lived. In an adventure stretching from a lost desert tomb to an Arctic engineering complex Sigma Force must confront an ancient biological threat made real by modern science. Find more at harpercollins.com.

Pack it up Wherever your adventures take you, having someplace to store your essentials is a must. Backpacks are a practical solution because once slung over your shoulders, your hands are free to aid your exploration. The distribution of weight also makes for a more comfortable journey.

Particularly if you’ll be loading up your pack, you’ll want to shop for quality over cost and find a bag with strong, reinforced seams, sturdy straps and durable zippers or clasps.

(Family Features)

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An avid traveler, hiker and biker, she woke each morning thinking what she couldn’t do that day.

At age 52, Brenda was convinced she was too young for hip surgery until she realized life was passing her by. Skagit Regional Health’s Orthopedics & Sports Medicine team got Brenda back in motion.

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an opportunity to increase your steps for the day, or choose the longer scenic route when walking your dog at the park for a more pleasant experience allaround.

Active Living | LIVING BETTER

Small Changes for Better Living

Go for guilt-free snacks. Better living isn’t about giving up

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busy schedule doesn’t have to prevent you from taking steps toward a lifestyle that fosters overall well-being. There are many easy, small changes you can make toward better living that can make a noticeable impact.

Choose the long route. For many people, it’s an automatic move to find the closest parking space or shortest distance to the door. With your lifestyle goals in mind, consider taking a different approach. Look for ways to work in more physical activity. Seek out a spot in the back of the parking lot as

everything you like; it’s about balance and moderation. Consider keeping a healthy snack on-hand for guilt-free snacking when hunger strikes.

Take time to recharge. Even when you’re strapped for time, carving out a few minutes for yourself each day to focus on your mental well-being is important. This can include simply enjoying a few moments of silence or something more specific like meditating or journaling. Busy people tend to carry more stress, so looking for ways to inject these calming activities into daily schedules can help keep you refreshed and bring you more happiness.

Practice self-care. Especially when you’re busy, it’s easy to slack on self-care, but combine that with elevated stress and you may be especially susceptible to not feeling your best. Give yourself a boost with a daily vitamin or try a warm bath with Epsom salt to soothe your senses.

Space out your meals. Waiting hours to eat can cause people to overeat at major mealtimes - especially dinner. Taking time to plan simple snacks throughout the day helps ensure cravings are met and overeating is avoided when the dinner bell rings.

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Active Living | PERSONAL FINANCE

How to Pick a Retirement Account hether you’re starting your career, approaching retirement or you’re somewhere in between, it’s important to understand the various options available to help you reach your retirement goals.

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transition as you begin your next chapter,” says Hancock. “It’s important to assess what income and expenses may be eliminated when you retire and what new expenses may be added.”

Even if you are already investing in a 401(k) or other retirement plan, contributing to an Individual Retirement Account (IRA) can help you diversify your investments and provide an additional tax-advantaged savings plan, say experts.

Hancock explains that working with a financial advisor can help you estimate your post-retirement budget. However, it’s important to keep in mind that withdrawing from a traditional account to pay for unexpected expenses during retirement can result in unpleasant consequences, such as higher Medicare premiums, more of your Social Security benefits being taxed or raising your tax bracket. On the other hand, qualified withdrawals from Roth accounts are tax-free and should not affect your taxable income or treatment of Medicare and Social Security benefits.

Hancock says to consider the following three things, when choosing a retirement account.

Tax Rates Will your taxes be higher now or later? On the face of it, the decision appears to be straightforward, Hancock explains. If you expect your tax rate will be lower when you retire, a traditional account may offer you more spendable income for retirement. If you expect your tax rate will be higher than it is now or the same upon retirement, a Roth account may provide you with more spendable income later. The challenge is that there is no way to know what future tax rates will be, and even if you had a crystal ball, other factors at play should also be considered.

Income and Expenses “Understanding your spending before you retire can help you have a smoother and more successful goskagit.com

While no one can plan for every eventuality, understanding your current circumstances and looking ahead can help you make sound

investment choices now that can help you reach your retirement goals.

(StatePoint)

Required Minimum Distributions “Roth options may have some advantages over traditional accounts, as you do not need to start withdrawing at age 70 1/2,” says Hancock. “Traditional accounts, both 401(k)s and IRAs, require you to withdraw money once you reach that age, which limits the account’s growth potential.”

For many individuals, using both Roth and traditional accounts may help address some of the uncertainty over your future tax bracket and whether your spending needs may change. There are IRA contribution limits set each year by the Internal Revenue Service, so it’s important to check with the IRS website, your financial planner or tax advisor on how much you can contribute to each.

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“There are some important differences between Roth and Traditional IRAs that all retirement planners should keep in mind,” says Mary Ellen Hancock, a senior wealth strategist with PNC Wealth Management.

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Active Living | PERSONAL FINANCE

Hobbies can make you money in retirement

By Nancy Collamer GOBankingRates.com (TNS)

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fter decades of hard work, you’re nearing retirement age and looking forward to long days spent outdoors, online and on the road. But, maybe you haven’t decided how to use up all that free time — or you enjoy the structure that work brings.

Continuing to work in retirement isn’t uncommon. A 2017 report conducted by the Transamerica Center for Retirement Studies found that 53 percent of U.S. workers expect to retire after age 65 or don’t plan to retire, while 56 percent intend to take on part-time work.

Instead of picking up random jobs to fill your days, consider turning your hobby into a business or finding work in your field of interest. You’ll make a little money to pad your savings while practicing your passion.

–– Teach what you love: Whether you’re a skilled photographer, chef or engineer, chances are you can find work teaching what you love. You can set

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up shop in your home — like your neighborhood piano teacher — or teach at a local adult education program or school.

Alternatively, you can become an instructor for online instructional platforms like Udemy. But, if you prefer face-to-face interaction, Craigslist is a good place to find tutoring work.

If you have a knack for editing video, YouTube is a great place for you to post instructional videos, product reviews and more. Although you won’t make a ton

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of money at first, successful YouTubers can rack in quite a bit off ads shown on their videos.

–– Sell your own products: In the past, crafty individuals had the opportunity to sell handmade goods only at fairs and farmers markets. But because of the proliferation of online marketplaces, you can now sell your creations worldwide.

Etsy is the best-known marketplace for artisans, but there are plenty of smaller sites you can consider, like ArtFire and Zibbet. You can also use eBay to sell your creations. Even if you don’t make a lot of money, you can file a tax deduction for your hobby to help offset costs.

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A lot of online craftspeople make shirts, posters and knickknacks for trendy TV shows like “Game of Thrones” and “Doctor Who.” These shows have large audiences that are looking for unique items they can display or wear.

–– Write about your experiences or crafts: Whether you carve wood sculptures or explore hiking trails in your city, chances are you can find people online interested in what you do.

Start a blog and post photos of your creations, favorite trails or foods you cook. If you enjoy writing, create a DIY blog that provides step-bystep instructions with photos. You can even post your work to Instagram or BuzzFeed, which might help boost sales or viewership.

Hobbies cont. on page 8

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Active Living | PERSONAL FINANCE Hobbies cont. from page 7 If you don’t want to bank on ad revenue and sponsorships for income, pick up freelance writing assignments on sites like Mediabistro and FlexJobs.

Yoga enthusiasts need mats; cooks need knives; and gym rats need fitness journals. If you can invent a product that fills a gap in your field of interest, you can make quite a bit of money.

As an enthusiast, think about products that would make enjoying your hobby safer or more efficient. You can even make pins and bumper stickers so other enthusiasts can share their love for a hobby. If you’re not sure whether there’s a market for something you have in mind, make a prototype for yourself and share it online to gauge interest. You might be surprised by the reception and end up starting a small business.

how it can be used to accommodate vacationers. Once you consider how you can use the space, you can then pick the platform to advertise and promote your residence. There are many options, including Airbnb, Craigslist and Zillow.

–– International house-sitting: Imagine spending some time away at a French vineyard or in the countryside of Italy. If traveling is a hobby of yours in retirement, why not have your stay paid for by house-sitting internationally?

With websites like MindMyHouse, there are many options to connect international homeowners to house sitters. The website is free to homeowners but house sitters pay $20 to join. So although it’s not directly paying you in cash, you will be saving on your lodging while helping house-sit abroad. If you want to make some cash, you can rent out your place while you take a housesitting assignment. For more information, check out House Sitting Magazine, a free online publication.

–– Run errands for others: Searching for hobbies for retirees that pay? Retired people often want to remain helpful, as they enjoy the feeling that they’re needed. If you’re handy, efficient and like completing tasks, but still want to make extra cash, consider giving a hand to others.

–– Lead a tour: Americans are on the move. In 2016, they took 1.7 billion trips for leisure, according to the U.S. Travel Association. That amounts to $683.1 billion in travel spending for the year. With so many travelers on the move, you can set up and run bird-watching groups, brewery tours or bike tours, leading tourists to attractions around your city.

Technology has made it simple to get paid for helping others by moving furniture, completing handyman tasks or serving as an assistant. For example, TaskRabbit connects people who want to outsource jobs with people who have the ability to get them done. For this website, you bid on an assignment, and if accepted you’re paid upon completion.

The company Cheese Journeys, for example, offers a behind-thescenes look at how cheese and wine is made. Tourists can sign up for tours to meet culinary experts and get hands-on experience in a new city.

–– Find part-time work: From the baseball fan who writes about spring training for his local paper to the movie enthusiast who works as an usher at the local arts center, finding a job related to your hobby is a wonderful way to blend work and fun. Think about the places you like to spend your free time — ballparks, bookstores, gardening centers — and see if they have any part-time job openings.

You can even find seasonal work for resorts, national parks and tourist attractions. CoolWorks has job openings for tour guides, community managers and guest services at resorts, letting you enjoy the outdoors, meet new people or just have a picturesque workplace to enjoy your golden years.

–– Rent out your space: Do you like meeting new people and have extra space in your home? You can rent out rooms to travelers. This could be one of the best money-making hobbies for retirees who live in big cities or near popular vacation destinations.

Think about that extra room in your house, basement or even garage and 8

–– Drive for a ride-hailing service: For some, fun hobbies include driving. If you’re a retiree who loves to be in the car rather than sitting at home, you can make some decent cash being a professional driver for those who need rides through services like Uber and Lyft. The best part is you don’t have to accept a ride request, which keeps you in control of your schedule.

–– Become a consultant: What sets a retiree apart from everyone else? A lifetime of experience. One of the most lucrative hobbies for a retiree is becoming a professional consultant. You can work as a consultant in your professional area or become a consultant in a hobby that you like and are good at.

For example, maybe you’re a great gardener and received “yard of the month” more than once in the neighborhood. Advise others how they can get a garden like yours.

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