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13 Practical Tips For a Better Retirement

13 Practical Tips For a Better Retirement

“How much money will I need for retirement?” If only someone could look into a crystal ball and tell us.

While everyone’s retirement needs are likely to be different, the reality is that enough will probably never be enough, and people delay saving for a better retirement for many reasons, such as:

  • They believe that they might not reach retirement.
  • They assume things will work out and that their pensions or superannuation will cover their needs.
  • They generally believe that there’s plenty of time to save for retirement later.

Saving for a better retirement

In reality there isn’t a best time to start saving for retirement. Earlier is better, but now is good. You need to either find a way to make more money, or find a way to come up with a regular amount of money and put it into a savings account or other investment each month if you really want a better retirement. And while you are busy working hard to save money … don’t forget about your health and well being too. Here are 13 practical tips for a better retirement.

1. Keep a record of your monthly spend

Understanding what you spend each month—and where that money actually goes—means that you can can decide what’s essential versus what’s not entirely necessary, and then figure out ways to save money.

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There’s no better way of understanding how much money you need to live than by keeping track of what you spend. To start with:

  • Write down all your monthly debits and standing orders going out of your bank account.
  • Keep all your receipts in an envelope or a kitchen drawer and tally them up at the end of the month.

2. Start a budget sheet

Take a sheet of paper and draw up three columns:

  • From the results in Number 1 above, write down all the expenses that you’ve recorded in the first column.
  • In a second column write down ways you could reduce or eliminate that expense (if the expense is not essential).
  • In a third column write down the potential monthly saving.

3. Downsize your house or reevaluate your house payments

If your children have left home, the family dog has died, and the pet rabbits are no more, then is it really necessary to live in a large house on a big block? Considerable savings can be made by moving to a smaller house, including electricity costs, water costs, insurance fees, rates, and the big one … your house mortgage or bond payments. Write down your current costs and speak to a financial advisor or realtor to get an idea of what you could save by downsizing. If you don’t want to downsize, then consider your house payments, and see if you can create a plan to eliminate your monthly mortgage or bond payments before you retire.

4. Cut down on entertainment expenses

Entertainment is necessary, but do you need to eat out several times a week or go to the movies when you could hire a DVD?

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  • If you eat out twice a week, could you eat out once a week or have a Chinese or Indian takeaway instead? Better still, resolve to have a date night, and learn to cook a new or healthy meal at home.
  • Likewise, cut down on incidentals such as the number of coffees you buy each week.
  • Perhaps give up the magazine subscription and borrow magazines from the library instead.
  • Rent DVDs rather than going to the cinema.

Take a few minutes and write down what you could save over a year—you might be surprised. Once you get started, you’ll find lots of inventive ways to cut down entertainment costs, and you probably won’t feel you’re missing out at all.

5. Keep fit

Exercising regularly and eating healthy meals are like an insurance policy to a better retirement. Without good health, retirement will not be nearly as enjoyable. Get into the habit of the following:

  • Take a daily walk or join a running club.
  • Take up a sport.
  • Quit buying food from the central aisles of the supermarket (the mixes and packets and foodstuffs with added calories and additives) and stick to the outside aisles where you’ll generally find all the fresh produce.

6. Turn a hobby into a part-time business.

There are two ways to work towards having a better retirement: save more or spend less!

If you can’t spend less, then why not think about ways you could potentially earn a little more and turn a hobby or skill into a part-time business? Consider the following:

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  • Are you crafty? Perhaps you could make arts and crafts, jams, or cakes to sell at weekend markets.
  •  If you’re a handyman perhaps you could help your neighbors and friends with their home maintenance jobs.
  • Do you have any useful freelance skills—such as graphic design talent, web design expertize, or copy writing flair that you could charge for at an hourly rate?
  • Perhaps find a fun part-time job—if you like gardening look for part-time work in a nursery or garden center.

7. Upgrade appliances

If you run heating or cooling units, washing machines, and dish washers and they are nearing the end of their life span, then consider upgrading them before you retire and while you still have finance options available and a salary coming in to pay them off. Take stock of all your appliances and decide which need replacing, then sell your old ones to create a little cash to put towards the new ones.

8. Sell the fancy toys

Own a boat that just sits in the garage these days? What about the canoe? Do you still need three bikes now that the children have left home? Sell your lifestyle toys that you don’t use anymore, bank the cash, and use it on funding a better retirement.

9. Redefine your car requirements

If you are married and your children have left home, perhaps you have two cars, but actually don’t need both anymore. Not only would you be cutting your carbon footprint by running just one vehicle, you’d also be making huge savings. Follow these steps:

  • Open the conversation about how and why you need two cars.
  • Find out how you could both compromise if you had only one car.
  • If it’s possible, then sell the second car and watch the savings accumulate in your bank account.

10. Take cheaper holidays

We’re bombarded by advertising about how we should be living the good life, and this may include travel, which as we get older becomes easier again once our family responsibilities become less. But do you really need to go on a fancy cruise if you are still fit and healthy? If you want to save money for a better retirement then consider the following options:

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  • How about hosteling in Europe, perhaps? It costs a fraction of the price of five-star hotels.
  • Take a biking holiday instead of lying by the pool of an expensive resort and drinking cocktails. Your mind and body will probably thank you for it as well.
  • Book holidays out of season, or at least outside of school holidays.
  • Self-cater instead of booking into expensive resorts.
  • Hiking is free. Think about a walking holiday rather than clocking up the miles in a hire car.

11. Reevaluate your insurance policies every few years

Don’t be complacent and accept rising insurance premiums merely because you’ve been with a company for X number of years. Check out other deals, phone around, and see what packages are available for bundling car, house, and contents policies, for instance. Get recommendations from friends and advisors. Doing some insurance housekeeping every few years may well save you hundreds of dollars in the long run.

12. Compare bank services, banking fees, and mortgage providers

Banks make money from us, make no mistake. Just how much of your hard-earned savings they extract is up to you because banking fees and services differ from bank to bank and are apt to change. Shop around until you find an exact match for your banking needs, then shop around some more until you find the bank offering the lowest fees. Rinse and repeat for your mortgage provider—sometimes it might save you money to switch a mortgage mid-term to a company offering a better deal, but speak to a financial advisor before you do unless you fully understand the cancellation and refinancing fees.

13. Understand your investments and asset allocation

Assets consist of equities, fixed income, and cash. An investment strategy will probably aim to balance risk and reward according to your short-, mid- and long-term goals, and your tolerance for risk.

If you have investments, get clear on what they are, and how much they yield each year. Make sure your assets are well allocated and consider age-old sound advice, which suggests not to put all your eggs in one basket. Decide, if possible, to cut down on assets that cost you money (such as cars and boats) and invest more in those that accumulate capital or cash. Ask yourself if your assets are still working hard for you and if they are still beneficial. And, if necessary, speak to an accountant or financial advisor to assist you make investment decisions for your future and for a better retirement.

When you have done this, then file any share certificates, bank statements, rental income records, and anything else from which you earn money in easily accessible files, either in a cabinet or on your computer for easy future reference (don’t forget to have a hard drive backup).

Keep fit and well, good luck with your saving, and here’s to a better retirement!

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Last Updated on February 21, 2019

Top 9 Foods for Incredible Brian Health And Brain Power

Top 9 Foods for Incredible Brian Health And Brain Power

Your brain is the most intricate and powerful organ in your entire body. It’s essentially a super-computer with brain power like a Ferrari.

If you have a Ferrari, would you put cheap gasoline in it? Of course not. You want to put in high-octane performance fuel to get the most out of your investment.

When it comes to the brain, many people are looking for the top foods that will supercharge the brainpower to help focus better, think more clearly and have better brain health.

In this article, we’ll look at the top 9 brain foods that will help create supercharge your brain with energy and health:

1. Salmon

Salmon has long been held as a healthy brain food, but what makes this fish so valuable for your brain health?

It’s important to understand that your brain is primarily made up of fat. Roughly 60% of your brain is fat. One of the most important fats that the brain uses as a building block for healthy brain cells is omega-3’s.

Omega-3’s are essential for building a healthy brain but one of the most important omega-3’s for your brain is DHA. DHA (docosahexaenoic acid) forms nearly two-thirds of the omega-3’s found in your brain.[1]

Omega-3’s and DHA in particular help form the protective coating around our neurons. The better quality this coating is, the more efficient and effective our brain cells can work, allowing our brain power to work at full capacity.

Studies have shown that being deficient in DHA can affect normal brain development in children, which is why so many infant formulas and children’s supplements are beginning to include DHA.

Being deficient in DHA as an adult can cause focus and attention problems, mood swings, irritability, fatigue and poor sleep.

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2. Blueberries

Blueberries top the list as one of the most beneficial fruits to maximize your brain health and performance.

Blueberries have some of the highest content of antioxidants, particularly anthocyanins, than any other fruit, which helps protect the brain from stress and promote healthy brain aging.

Blueberries antioxidant content also help reduce inflammation, which allows the brain to maintain healthy energy levels.

Blueberries have begun to receive attention for their connection to brain performance.[2] Studies have demonstrated that eating blueberries on a regular basis can not only improve brain health but also brain performance as well including working memory.[3]

Blueberries not only taste great but are low in calories, high in Vitamin C, Vitamin K and Manganese.

3. Turmeric

Turmeric is a very impressive spice that has well-researched and proven to have tremendous benefits for your brain. Turmeric’s main compound that benefits the brain is called curcumin, which is responsible for turmerics bright yellow appearance.

Curcumin has been shown to have anti-inflammatory, antioxidant, antiviral, antibacterial, antifungal, and anti-cancer properties.[4]

Curcumin increases the production and availability of two important neurotransmitters serotonin and dopamine, two important neurotransmitters involved with happiness, motivation, pleasure, and reward.

Curcumin has been well documented to have powerful anti-depressive effects. In one study, it was found to be as effective for depression as popular medications such as SSRI’s like Prozac.[5]

Curcumin has also been shown to:

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  • Increase blood flow to the brain.[6]
  • Increase BDNF production, a powerful stimulator of neuroplasticity.[7]
  • Increase DHA availability and synthesis in the brain.[8]
  • Increase antioxidant levels in the brain to prevent brain aging and inflammation.[9]

4. Coffee

Coffee is the wonderful elixir of energy that many people cherish every single morning. The biggest reason people drink coffee is to get a dose of caffeine.

Caffeine is a natural neurological stimulant that not only gives you energy but also prevents adenosine, a neurotransmitter involved with feeling tired, from binding in the brain.

Many people are surprised to find that coffee actually contains a large quantity of antioxidants called polyphenols, which are important for reducing inflammation in the brain and keep your brain energized. The antioxidants in coffee also provide a neuroprotective effect, protecting the brain from stress and damage. [R]

Coffee can also:

  • Improve alertness and concentration.[10]
  • Help with neurodegenerative disorders like Parkinson’s disease.[11]
  • Reduce your risk of depression.[12]
  • Improve your memory.
  • Provide short-term boost in athletic performance.[13]

5. Broccoli

What was your least favorite food as a kid growing up?

Most likely, broccoli was your answer.

Broccoli may not have been your top choice, but it might be the top choice for your brain.

Broccoli contains a compound called sulforaphane. Sulforaphane has been shown to promote the proliferation and survival of brain cells by reducing inflammation and boosting production of BDNF. It has also been shown to boost neurogenesis, the production of new brain cells.[14]

Broccoli is also loaded with important nutrients Vitamin K and Folate. Vitamin K plays a vital role in protecting brain cells.[15] Folate plays a crucial role in detoxification and reducing inflammation in the brain.

6. Bone broth

Bone broth wasn’t just created to combine with soups, you can actually drink bone broth by itself.

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Drinking bone broth has become one of the biggest trends in the health and wellness industry and for good reason. Bone broth isn’t actually a new thing. Bone broth has been used for centuries as a healing tonic to promote health and longevity.

Much of the nutritional benefits and value of bone broth comes from its substantial vitamin and mineral content. Primarily calcium, phosphorus, magnesium, and potassium.

Your gut is called your second brain for a reason. Research continually shows that there is a direct and indirect connection between your gut and your brain. Your gut also houses and stores many important brain compounds involved with optimal brain performance. Therefore the health of your gut is vitally important for your brain health and performance.

Bone broth has become a go-to tool for helping heal the gut and provide the gut with the vital nutrient and resources it needs to heal and perform optimally.

With the vast amounts of nutrients that bone broth contains, it makes the list as a go-to food for your brain health.

Look for high quality, organic bone broth for the best results.

7. Walnuts

Walnuts are one of the top choices of nuts for brain health. Walnuts also look similar to a brain.

Amongst the wide variety of nuts available, walnuts contain the highest amounts of the important omega-3 DHA. DHA, as seen above, is a critical building block for a healthy brain.

Walnuts also contain high amounts of antioxidants, folate, magnesium, potassium, and phosphorus, which help to lower inflammation.

Melatonin in walnuts is an important nutrient for regulating your sleep. Having low amounts of melatonin can make it challenging to get good quality sleep and getting poor quality sleep can dramatically impair brain health and performance.

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8. Eggs

For years, eggs were put on the nutritional naughty list; but now, eggs are finally getting the credit they deserve. Eggs can provide a tremendous boost to your brain health and longevity.

Eggs, particularly the yolks, contain a compound called choline. Choline is essential for building the neurotransmitter acetylcholine. Acetylcholine plays an important role in mood, memory, and intelligence.

Egg yolks contain some of the highest quantities of choline. This is very important because low levels of choline can lead to low levels of acetylcholine, which in turn can cause increased inflammation, brain fog, difficulty concentrating and fatigue.

9. Dark chocolate

You’re about to love chocolate even more because chocolate, particularly dark chocolate, is great for your brain.

Chocolate boosts levels of endorphins, your brains “feel good” chemicals. This is why you feel so good eating chocolate.[16]

Chocolate also increases blood flow to the brain which can help improve memory, attention, focus, and reaction time.[17]

Dark chocolate contains high levels of magnesium, which has been coined “natures valium” for its ability to calm and relax the brain.

Lastly, dark chocolate has one of the highest antioxidant profiles out of any other food, including popular superfoods like acai berries, blueberries, or pomegranates.[18]

Conclusion

Your brain is a high performing organ and it uses quite a lot of energy, roughly 20% of the bodies energy demands.

In order to maintain a healthy brain, you need the right fuel to ensure that your brain has all the nutrients it needs to perform as well as adapt to the stress of life.

If you want to keep your brain performing well for a lifetime, then you want to make sure you are including as many of these brain health foods as possible.

More Resources About Boosting Brain Power

Featured photo credit: Unsplash via unsplash.com

Reference

[1] US National Library of Medicine National Institutes of Health: DHA Effects in Brain Development and Function
[2] Canadian Science Publishing: Enhanced task-related brain activation and resting perfusion in healthy older adults after chronic blueberry supplementation
[3] US National Library of Medicine National Institutes of Health: Cognitive effects following acute wild blueberry supplementation in 7- to 10-year-old children.
[4] US National Library of Medicine National Institutes of Health: Curcumin: the Indian solid gold.
[5] Herbal Medicine: Biomolecular and Clinical Aspects. 2nd edition.: Turmeric, the Golden Spice
[6] US National Library of Medicine National Institutes of Health: Effect of combined treatment with curcumin and candesartan on ischemic brain damage in mice.
[7] Science Direct: Curcumin reverses the effects of chronic stress on behavior, the HPA axis, BDNF expression and phosphorylation of CREB
[8] US National Library of Medicine National Institutes of Health: Curcumin boosts DHA in the brain: Implications for the prevention of anxiety disorders.
[9] PLOS: A Chemical Analog of Curcumin as an Improved Inhibitor of Amyloid Abeta Oligomerization
[10] US National Library of Medicine National Institutes of Health: Effects of Caffeine on Cognitive Performance, Mood, and Alertness in Sleep-Deprived Humans
[11] American Academy of Neurology: A Cup of Joe May Help Some Parkinson’s Disease Symptoms
[12] American Academy of Neurology: AAN 65th Annual Meeting Abstract
[13] US National Library of Medicine National Institutes of Health: Effects of caffeine on the metabolic and catecholamine responses to exercise in 5 and 28 degrees C.
[14] US National Library of Medicine National Institutes of Health: Hyperammonemia induces glial activation, neuroinflammation and alters neurotransmitter receptors in hippocampus, impairing spatial learning: reversal by sulforaphane
[15] Oxford Academic: Vitamin K and the Nervous System: An Overview of its Actions
[16] Diana L. Walcutt, Ph.D: Chocolate and Mood Disorders
[17] Health Magazine: Chocolate can do good things for your heart, skin and brain
[18] Chemistry Central Journal: Cacao seeds are a “Super Fruit”: A comparative analysis of various fruit powders and products

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