DOWNSIZING FOR THE BETTER Everyone’s Doing It!
Whether you simply want to eliminate clutter or move to a smaller home now that the kids have moved out, downsizing has increased in popularity in recent years. But, if it’s your turn to downsize, you may find it challenging and unexpectedly emotional. Here are some tips to make the process easier. Start early. This process cannot be rushed and will not be a quick one, so don’t try to squeeze all of the preparation and packing into a few days. This process can take weeks — or even months — and that’s completely normal. You’ll want time set aside to go through everything room by room, one item at a time. Create ‘keep’ and ‘toss’ piles. When going through your belongings, create a pile for items you want to
keep and items you want to either donate, give away, or throw away. While creating a maybe pile may feel worthwhile at the time, it will only end up leaving you with more clutter. Plus, indecision prolongs the process. Get rid of duplicates. You’ve collected a lot over the years. If you have two can openers, five sets of bed sheets, three cookie sheets, and an endless supply of spatulas, it’s time to clear out the duplicates that you don’t need or use. Consider donating everything that’s in good condition — someone surely could make good use of it. Take time to reminisce. There is fun to be had in sorting through old memories. Allow yourself time to stroll down memory lane. Welcome
laughter, smiles, and tears. You can even invite your loved ones over to help and share in the stories as you pack up the items you hold dear. Don’t let decluttering and downsizing be a daunting task; take it one step at a time. Even if you aren’t moving anytime soon, it’s always a good idea to cut down on the amount of clutter you hang on to!
The Problem With Women Retiring Earlier WORKING LONGER MAY BE A GOOD IDEA
In 1992, counselor and author John Gray published his widely discussed book “Men Are From Mars, Women Are From Venus.” The relationship book focused on the ways in which men and women communicate differently, offering insight to struggling heterosexual couples. However, in the world of retirement, that same title could apply. Women aren’t approaching retirement like men — and that’s not advantageous.
retire at least 2–3 years earlier than men. In 2018, The New York Times explored this phenomenon and cited a main cause. Women tend to marry men who are older than them, and many couples retire together. Therefore, women are younger than men when they retire. That same New York Times report found that women live — on average — four years longer than men. In retirement savings-speak, this means women need more retirement income than men. Furthermore, women typically earn less than men, which means their contributions to retirement are often less than men. (In 2021, the Pew Research Center reported women earned 84% of what men made in 2020.)
reduced retirement income for a longer period of time.
Granted, spouses often share retirement income, which could protect women who choose to retire when their husbands do or earlier than is the norm. However, it may be beneficial for women to work until the same age as their husband’s age of retirement — or longer — to pad their savings. Another New York Times article suggests that working until 70 can provide added income that savings strategies alone cannot meet. There are many social, cognitive, and emotional benefits to working longer, too. However, retirement is your oyster! Retire when you feel it’s best for you and your retirement savings plan is ready to use. But if this article raises questions, consult with your trusted financial expert.
According to studies,
women tend to retire earlier than their male counterparts. In particular, white, married
women without a higher education degree tend to
All of this adds up to a major problem: Women are having to rely on that
2
| www.VisitingAngels.com/CentralCoast
Made with FlippingBook Ebook Creator