If you have no dependents and are at least 62 years old, you won’t need to avail of your pension fund so early if you bother to think about whether you have non-fluid resources that you can convert into cash. If it so happens that you do, think about making loans instead. Not just any loans will do, of course. We refer to reverse mortgage loans on your property. These are cash accommodations that won’t need to be paid until you die or need to move out of the house to a retirement home (if ever). The loan will also need to be liquidated in the event the house if sold.

Your retirement pension fund could remain untouched

As opposed to real estate values which are constantly fluctuating and which in our present economic environment are prone to decreases rather than increases, your pension fund is money that is held in trust for you in a financial institution. It therefore gains monthly interest and will never de-valuate. Instead of making withdrawals from it, you should prefer to use your other resources whose appreciation is a thing that is not sure. It therefore makes better sense to retain the pension fund in the bank.

Convert your real property to cash through retirement loans

You can acquire the cash value of your home by selling it. But since that will mean that you won’t have a place to stay in, selling will not be a wise move. You should look to the possibility of loaning the house. But then the type of loan should not require you to remit monthly payments amounting to the principal plus the interest. The state of your finances, on retirement will probably not be able to withstand the amounts you need to pay in interest; and ordinary loans will just make things go from fair to bad.

Not just any retirement loan will do, acquire reverse mortgage loans

The best way to make use of your fixed assets (your house) for your daily needs while on retirement is to apply for reverse loan mortgages. It is just like selling your house while being able to live in it at the same time. Payments for the loan will be collected in the event of your death, or if you are removed to a home for the aged, or if the house is sold. Talk about eating your cake and still having it at the same time!

If you are not contemplating on naming heirs to your property anyway, why not utilize its value to alleviate the conditions of your retirement years. Get yourself a reverse loan mortgage plan. But do it while you are strong enough to attend to the matter.

Have a confidant in the matter or keep strict secrecy

It may not be a wise decision to consult your relatives about the matter unless you are sure that you have them all under control. Even if you have no direct kin, your distant relatives may stand to benefit from your property once you are gone. Consulting them about reverse mortgage loans will inevitably lead to their trying to dissuade you from it.  

If you find someone, not among your relations, of whose sympathy you are sure, approach that person for guidance in the matter of securing your reverse mortgage loan. You will need help to get around town in your age. But you can’t risk letting your relatives know of your schemes. Hence the need for the confidant.

Alternatively, negotiate for a retirement loan arrangement with your relatives

The best thing that could happen is for one of your moneyed relations to be interested enough in your property to be willing to accommodate you with something similar to a reverse loan mortgage. Essentially, what should happen is that you enter into an agreement with that relation to the effect that you bequeath your property to them in return for their giving you a regular monthly allowance for so long as you are alive or in full possession of your faculties.

Doc. No.1115-CB-ULT5-nv15s

Colby is the loving parent of two kids and loves writing about situations parents are usually faced with. Check out his Baby Bedding by Glenna Jean as well as his favorite collections, Trend Lab Paisley Park 4 Piece Crib Bedding Set and the Trend Lab Giggles Baby Bedding.

Current Location: On Board the MSC Musica visiting the island of Corfu, Greece

Today’s Total Expenses: $187.61

Cruise: $178.51 (cruise cost includes transportation, accommodation and food)
Food: $9.10 (€6.00 for baklava, €1.00 for milk)

Miles Traveled Today:
Sea Miles: 436.1 (379 Nautical Miles, Piraeus to Corfu)

Overall Shipboard Service

Yesterday we mentioned about the service in the dining room being rushed and poorly handled.

Today we’re going to talk about the service to our stateroom.

You Shouldn’t Have To Ask For Toilet Paper!

On more than one occasion, we had to track down the room stewards after they’d already cleaned or room, to remind them that we needed toilet paper. Wouldn’t you think that would be something they’d check?

At other times we also had to ask from fresh towels and soap.

Exploring Corfu

MSC had again arranged for a shuttle bus at the cost of €7.00 per person. We just walked into town. It wasn’t that far.

Greek Real Estate

As one of our many retirement ideas has included the possibility of moving to Europe, we thought we’d take the opportunity to visit some real estate offices while we were in Corfu. That was, of course, if we could actually FIND any real estate offices.

After wandering around the town, we finally came across one real estate office down a narrow side street (actually, there were lots of narrow side streets). We popped in and inquired about properties, in Corfu, in the €100,000 to €150,000 range and were pretty much laughed out of the office! We really didn’t appreciate their attitude, told them so and left.

Just a few street down we stumbled across another real estate office. It was up three flights of stairs and you had to be buzzed in through a locked door. While this didn’t seem very customer-friendly we decided to give our inquiry another try.

Although the real estate agent wasn’t in the office, the receptionist was very friendly and very helpful. She was perfectly aghast at the reception we had received at the other real estate office. She was certain that the agent would be able to find several properties in the price range specified.

We left the office with brochures, the agent’s business card and a much better feeling about Corfu real estate agents.

Greek Baklava

As the island of Corfu was going to be our last stop in Greece, we decided that we simply must treat ourselves to some genuine Greek Baklava.

We happened upon a tiny bakery down yet another narrow side street, that specialized in all different kinds of baklava. We were like kids in a candy store, or rather, a pastry shop.

It was difficult trying to decide what to have. Everything – absolutely everything – was tempting.

We each picked a good-sized, gooey pastry and our selections were gently placed in a crisp, white paper bag.

We had not asked about the prices before making our selections and there wren’t any price signs displayed anywhere. So, when the total for the two pastries was €6.00 we were a little taken aback but paid the amount requested and left with our treasures.

We couldn’t wait to taste the baklava and each took a single bite. They were wonderful! The phyllo pastry was crisp and the honey was sweet and sticky – just as it should be. However, we realized very quickly that we were going to need either some coffee or some milk to wash down these gooey delights.

We stopped into a small grocery store and purchased a liter of cold milk.

We then found and iron bench in a park setting and leisurely enjoyed the baklava between big gulps of cold, fresh milk.

Heaven!

Who needs fancy restaurants when such simple pleasures lead to such lasting memories?

Back to the Ship

After enjoying an unhurried stroll to try to wear off some of the baklava, we headed back to the ship.

Along the way we stopped to admire an ocean view and met a lovely British lady who was staying at a villa in the countryside.

We meet the nicest people while traveling.

Back on the ship we settled back into the shipboard routine of the early show and then dinner.

Sunburst Resort, Milton Florida

Current Location: Lake Como Resort

Mileage: 383 Total: 679
Today’s Total Expenses: $115.20

Transportation: $95.16
Accommodation: $17.04
Food: $3.00
Entertainment: $0.00

Camping Aches and Pains

I’ve only camped a couple of times in my life and Vicky hasn’t camped since she was a kid. Our first night under canvas was not the most comfortable. Once we rearrange the mattress as Vicky explained yesterday I was able to get to sleep but I sure needed my Ibuprofen this morning.

Lake Como Resort

Lake Como resort is a permanent or winter home to about 500 people and there are some pretty spectacular mobile homes and RV’s parked on the grounds.

By the time we had our oatmeal and coffee, struck the camp, and completed a conducted tour of the grounds, we were late getting on the road. It was past 10am before we got on the road so it was good we did not have plans to go a long way.

Today’s Goal

We have driven across the US and Canada several times but always using the Interstates and have never had the chance to really enjoy the trip. We want to slow down this time and only travel in daylight. Also the Magellan GPS system allows us to explore some of the smaller highways that we would not have attempted if all we had was a map. We have decided to name the female voice of the GPS system, “Madge”. Not very imaginative but it works.

Today’s goal is the Sunburst resort in Milton, Florida which is almost to the Alabama border. That’s just over 400 miles so if we were not going to face putting up the tent in the dark we needed to get cracking.

Vicky had made some beef and cheese wraps so we didn’t have to stop for lunch. It also helps to keep the cost down and it is much more nutritious than stopping at some greasy fast food joint.

Good Job Madge

“Madge” (Magellan GPS) directed us flawlessly without using an Interstate highway but it was a good job we are traveling west and are able to take advantage of the extra hour you get when crossing time zones. By the time we got to the Sunburst resort the sun was setting and we still had to set up the tent and the Jetboil.

This time putting up the Sportz SUV tent was easy and only took about ten minutes. The Jetboil however was not behaving like it did yesterday. I thought at first we may have already gone through a whole can of fuel but connecting a new can did not improve things. It was still working but not anywhere near as efficiently as it did yesterday. I think the fuel line is clogged but I will have to wait for daylight to check it out.

When we checked in to Lake Como yesterday we were unpleasantly surprised to learn that we (me) had not fully read the fine print. We ended up paying $18 each for ground fees and $12 for camping for a total of $50. And that’s after our AANR membership discount.

Sunburst Resort

The Sunburst resort on the other hand just charged a single $16 ground fee and the camp site was free. With tax we paid a total of $17.04. That certainly helps to keep our daily average expenses down.

Our New MacBook Pro

One thing I had not allowed for was how long it takes to configure your computer the way you like it. We have a couple of Mac desktops at home with all the websites we check and their passwords stored in Firefox. Everything gets backed up each hour to the Apple Time Capsule and I could have brought that with us to make a mirror copy of our systems. I didn’t because the new laptop we chose for the trip – a 13″ Powerbook – does not have a hard drive big enough to hold a copy of the almost maxed out home system.

Consequently I’m turning the car air blue quite frequently as I realize there is yet another resource I don’t have readily available. Truthfully I also thought blogging along the road would be much easier but by the time we reach our destination I’m not much in the mood to edit video, register software and download updates. This will get much easier when we get somewhere we can spend some time.

We are planning a couple of days in San Antonio soon so maybe we can get caught up then. It’s easy enough to write while Vicky is driving – like now – but you, our readers, don’t get to read it until it is polished and uploaded.

We are doing the $100/day challenge to prove that even baby boomers with limited resources can travel the world and enjoy retirement to the full. We would really like to hear from you with questions and suggestions. We will respond, although that will be subject to getting a decent Internet connection.

Retirement income statistics

You can easily do a Google search on retirement income statistics to compile your own depressing list but for starters did you know that for most US states less than 20% of the population have any retirement income and from 5 – 15% of persons aged 65 and over live below the poverty level (Source StateMaster.com). According to all the stats I can find most of us baby boomers have not done a real good job of preparing ourselves financially for retirement.

What happened to the dreams?

Maybe you had a pension fund that some greedy #@^&$# financial advisor screwed you out of or your retirement funds were tied up in your house that’s now worth half what it was last year. Or it could be you were just working as hard as you could all your life putting a roof over your family’s head, food on the table and clothes on their backs that there was never enough left over to save for your retirement.

How Can I Start an Online Business?

Whatever the reason there is a good chance that, for most of us, you won’t have enough money to get you above the government pension poverty line. Many of us are turning to the Internet in hopes of finding a way to make the money we never did in our regular jobs. Do a quick Google search for “Affiliate Marketing”, or “How to make money on line” and you be amazed at how many people can make $34,277 their first month after buying the advertised $97 dvd.

I hate to be the one to tell you but this doesn’t happen. Most of the people selling you these courses are just as broke as you are. This is not to say you can’t make money online – you absolutely can – but most people will never earn back the $97 they paid for the course and you sure as hell won’t do it in a month.

Is It Hopeless?

With hard work, perseverance and a little luck in six months to a year you might be making a living wage. A couple more years and maybe you can afford that house on the beach you’ve dreamed about. You can make buckets of money on the Internet but you have to learn a lot about how to do it and just as importantly what not to do.

Here at Geezer Guides we have picked a few themes that we hope our baby boomer readers will be interested in. The most import factor in enjoying our retirement is having enough money to do the things that make us happy. Call it “Making Money Online”, or “Affiliate Marketing” or even “How To Retire Early” whatever the title in this series we plan to take you step by step through the various opportunities and show you how they all work and what you need to look out for.

How Do I Get Started?

Pick something that you can get your feet wet in. Something that, if it doesn’t work out for you, you won’t get hurt. And if it does work out you can actually start making money with your own Internet business.

I know about just such a program and I’ll tell you all about it in my next article.

I’m guessing you haven’t used your computer for much more than sending emails and playing games. OK, you possibly have a computer at work to help you do your job but have you ever thought of using your computer to make money?

The kids have left home, retirement is something that occupies your thoughts more and more, you have free time plus I know you can use more money. Being able to make money with your computer is a real opportunity not just some fly by night, over hyped scam. You’re not going to make $100,000’s a month like a lot of the hucksters claim but you can make a decent income with modest effort.

When you’re getting started the most important factors are training and support. I’ll be covering all the different ways you can make money online in other articles in this series but to get started I urge you to check out SFI.

What is SFI?

The first thing you need to know is that it is 100% free. There are no membership fees and there’s nothing to buy, plus you get lots of free training that will help you no matter what you decide to do online to make money.

I think of SFI like Amway meets eBay. It works like this – TripleClicks is a web site similar to eBay that sells their own and other peoples stuff, except that it operates in countries all over the world, in all kinds of languages. As an SFI affiliate you get paid a commission on anything that anyone you send to TripleClicks buys – for life.

The Amway part is that by recruiting a downline of affiliates you also get paid a commission on the purchases of anyone your downline sends to the site. You also get assigned a share of people that come to the SFI site on their own.

There’s lots more to it of course but that’s all covered on their website.

Why should I join?

If you’re at all interested in finding out more about making an online income this is an excellent place to start. It costs you nothing except for some of your free time and the training resources available to you will be invaluable as you explore more profitable ways to make money online.

Can I do it?

Personally I’ve always liked the multi-level marketing idea but I was never any good at it. Over the years I sold (or tried to sell) everything from Amway to satellite dishes but I just don’t have the personality for it. Let’s face it I’m a nerd, and much happier at my keyboard than a cocktail party. Which is why SFI is so great. Your personality doesn’t matter. If you’re the life of the party that’s great you can tell everyone you meet about the opportunity, but if you’re not as outgoing or you live in a cabin in the woods (but have a kick ass Internet connection) you can still build a downline with affiliates all over the world. Yes you can do it!

What’s the downside?

I really can’t think of any. Most people aren’t willing to put in the effort it takes to make affiliate income so this would be a good test for you. If you can’t make any money with SFI you probably shouldn’t spend any money trying to promote something more demanding. This is not a get rich quick scheme so don’t quit your day job just yet.

Do I have to be a computer whiz?

Not at all, in fact if you only have access to an Internet Cafe computer you could probably get by without even owning one of your own. You’d miss out on many promotional opportunities but there are all kinds of traditional ways to promote something that have been around for long before the computer age.

TripleClicks.com

Even if you’re not interested in selling online you might want to check out TripleClicks.com just for the bargains they have available. And if you do click the link above I’ll get a small commission on everything you buy from the site for life – see how easy it is.

Next Time

In the next article of this series I’ll look at how you go about setting up your own website.