THE GOLDEN GAME PLAN A STRONGER FOCUS ON FRUGAL FINANCES
As you prepare for retirement, it’s never a bad idea to critically examine your current expenses and determine which costs you should keep or discard as your income changes. Here are three thoughts on streamlining your budget for greater security in your senior years. A Redundant Risk Evaluation When raising families, we implement ways to ensure financial security if unexpected circumstances affect a breadwinner’s income. Expenses like disability and life insurance may have been critical costs in years past, but perhaps you’re at a point where these policies could be reconsidered. If you’re approaching retirement and your children are grown and out of the house, you may no longer need to cover yourself in the event of a disability. Additionally, a life insurance payout for your family may not be as critical now as it would have been if you had passed away when your kids were younger. Simple Suppers That Save Cents A food budget should be based on what you throw out, not what you eat. It may surprise you that the average American family tosses $1,600 in produce annually! Although you’ll likely have fewer mouths to feed as you age, the likelihood of at least some of your groceries ending up in
the garbage can is still high. Planning your meals in advance and purchasing only the necessary items to prepare them is one way to reduce unnecessary food spending, especially as the likelihood of sticker shock at the supermarket seems slim at best in the new year.
Midweek Moments of Meaning One of the beautiful things about reaching an age when you’re done raising young children
is that you’re no longer beholden to schedules that accommodate their needs first. Gone are the days of waiting for summer or holidays, which are among the priciest times of the year to travel, to take a vacation. With more flexibility in your daily schedule, you can now plan trips in a more budget-conscious way. Flights and accommodations often cost less during weekdays or in the spring and fall, and you can save even more by taking advantage of AARP discounts where available.
Chester A. Arthur’s Surprising Presidency An Overlooked Leader
James A. Garfield). Despite the tumultuous circumstances surrounding his ascension to the presidency, Arthur left his mark. In 1883, he signed the Civil Service Reform Act into law. The legislation eliminated political favoritism in the selection of federal jobs in favor of a merit-based system, thereby ensuring the placement of (in his words) “competent and faithful public servants.” Arthur’s presidency earned accolades from the great Mark Twain, who remarked, “It would be hard indeed to better President Arthur’s administration.” Before pursuing a life in politics, Arthur was a successful lawyer. In 1854, he became a civil rights pioneer when he successfully represented Elizabeth Jennings, an African American schoolteacher, who sued the Third Avenue Railroad Company for race-based discrimination after the train conductor refused to let her board. Although Arthur rose to achieve the highest echelon of the American dream, his life was marked by considerable loss. His first of three children, William, died at just 2 years old. While attending a concert in 1880, his wife, Nell, complained of not feeling well
and left early. Three days later, she died of pneumonia at the age of 42. The loss affected Arthur deeply. Upon his election to the vice presidency, he remarked, “Honors to me are not what they once were.” Additionally, he carried a grave secret during his tenure in the White House. Before becoming vice president, he had been diagnosed with Bright’s disease, a condition that causes inflammation of the kidneys. While he fulfilled his duties as vice president and president without disclosing his health issues publicly, many historians believe his illness played a significant role in his half- hearted campaign for a second term. When he ultimately lost his party’s nomination, he retired from public life before passing away on Nov. 18, 1886. He is buried next to Nell at Albany Rural Cemetery in Menands, New York. As we celebrate Presidents’ Day, take a moment to honor Chester A. Arthur, a true civil service advocate and an early civil rights defender!
Photo credit/source: bidenwhitehouse.archives.gov
During a recent trip to the National Portrait Gallery at the Smithsonian Institution with my parents and sister, I was gobsmacked to discover a handful of U.S. presidents I had forgotten even existed! In honor of Presidents Day this month, I’d like to tell you about one obscure president in particular who did more for our country than many may realize. Perhaps the most well-known fact about President Chester A. Arthur (1881-1885) is that he was one of only five U.S. presidents to assume the role after the assassination of their predecessor (in his case, President
–Kevin Mottley
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