Saint Louis Blog

Remember when your mom and dad retired after working 25 or 30 years for one company? Somehow, with a small check coming in from Social Security and that pension, they managed to live happily in their home (albeit a small one, usually).

According to a recent article in AARP’s fyi newsletter, 62% of Americans over age 55 have saved less than $100,000. Research shows that approximately 28% of Americans over age 65 were working in 2005!

People are delaying retirement because they haven’t saved enough. Did you know that each additional year of work can give you more time to save and boost your annual Social Security benefits.

Research also showed that remaining in the workforce offers both physical and psychological benefits. Even working part time can keep you busy, active and mentally alert. This could also be a great time to take some classes and try your hand at something you’ve always dreamed of doing. Follow your passion!

Employers are finally recognizing the contributions that an older worker can provide. Typically, they will be on time, willing to be flexible on work hours and know how to relate (think customer service!) to others. They have a good work ethic and  value loyalty.

Some folks follow the sun too, working in warmer climates when it’s cold here and coming back to family and friends when the climate changes to warm again.

It can be fun and educational too! Keep some time for yourself though, to relax and enjoy life!  So what are YOU going to do? Retire or keep on, keeping on?

Many people looking at possibly buying real estate today have been waiting on the sidelines because of all the talk of the “bubble“. While real estate prices have been reduced in most areas of the country many buyers have decided it may be too scary to buy real estate now. The fact is that now may be the best time to buy real estate.

The reasons are as follows: first real estate prices have dropped in most areas of the country, that means as a buyer you can negotiate a much better deal on your purchase. Even if you have a home to sell and need to take a hit on the property you can make up for it on your purchase especially if you’re moving up in price; Second, interest rates are historically low and have again dropped as of today; the economy remains strong with unemployment low and businesses generally have very healthy balance sheets so economic growth should continue as business spends on capital improvements. On the macro front Asia and Europe are experiencing high levels of growth which will continue global expansion. The bottom line is that this pull back in real estate won’t last forever, so the real question, will you be ahead of the buying curve or behind it?