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"Best speech ever": Roger Federer's hilarious address to graduates

Roger Federer has gone viral for all the right reasons after giving a hilarious and inspirational speech to a group of graduates. The Swiss tennis legend addressed the 2024 graduating class at prestigious Ivy League university Dartmouth, where he was awarded an honorary Doctor of Humane Letters for his charity and philanthropic pursuits since retiring from tennis in 2022. The 25-minute speech has been widely dubbed as "the best speech ever" online, as he quipped about the highlights of his illustrious career while sharing sage advice for the new grads. “Hello class of 2024, this is so exciting,” Federer began while wearing a college gown. “I’m so excited to join you today, really you have know idea how excited I am. Keep in mind this is literally only the second time I’ve ever set foot on a college campus. But for some reason you are giving me a doctorate degree." “I just came here to give a speech, but I get to go home as 'Dr Roger'. That’s a pretty nice bonus, 'Dr Roger' just has to be my most unexpected victory ever. Thank you.” After stating he will “try my best not to choke”, Federer went on to give a hilarious and heartwarming speech, complete with a number of life lessons. The 42-year-old shared that he left school at 16 and never went to college, but had recently “graduated tennis” with his retirement making international headlines. “I know the word is ‘retire’,” he said. “‘Roger Federer retired from tennis’. Retired. The word is awful." “You wouldn’t say you ‘retired’ from college, right? Sounds terrible. Like you, I’ve finished one big thing and I’m moving on to the next. Like you, I’m figuring out what that is." “Graduates, I feel your pain. I know what it’s like when people keep asking what your plan is for the rest of your life. They ask me ‘now that you are not a professional tennis player, what do you do?’ I don’t know and it’s OK not to know.” <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https://www.instagram.com/reel/C8FaLe5NGlt/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/reel/C8FaLe5NGlt/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by Roger Federer (@rogerfederer)</a> </div> </blockquote> Among his advice, Federer insisted that “effortless is a myth”, referring to a word that was often used to describe his appearance on court, and urged the graduates to prioritise working hard. “The truth is, I had to work very hard to make it look easy,” he said. "I spent years whining, swearing, throwing my racquet, before I learned to keep my cool.” He also spoke about one match in particular, perhaps the most memorable from his career. “I tried not to lose. But I did lose,” he said. "Sometimes big. For me, one of the biggest was the finals at Wimbledon in 2008. Me versus Nadal. Some call it the greatest match of all time. OK, all respect to Rafa, but I think it would have been way, way better if I had won." “Losing at Wimbledon was a big deal because winning Wimbledon is everything.” Before wrapping up his speech, the sporting legend ended with some practical tennis advice after he asked Dartmouth president Sian Beilock to pass him a tennis racquet. “OK, so for your forehand, you’ll want to use an eastern grip,” he said. “Keep your knuckles apart a little bit. Obviously, you don’t want to squeeze the grip too hard. “Switching from forehand to backhand should be easy. Also, remember it all starts with the footwork and the take-back is as important as the follow-through." “No, this is not a metaphor. It’s just good technique.” Federer then ended his address with a wholesome message for the graduates, saying, “I will never forget this day and I know you won’t either.” “You have worked so hard to get here and left nothing on the court. From one graduate to another, I can’t wait to see what you all do next. Whatever game you choose, give it your best. Go for your shots. Play free. Try everything." “And most of all, be kind to one another and have fun out there.” <iframe title="YouTube video player" src="https://www.youtube.com/embed/pqWUuYTcG-o?si=i4Pi8XY2JRYkyhd1" width="560" height="315" frameborder="0" allowfullscreen="allowfullscreen"></iframe> Image credits: Instagram - Dartmouth

Retirement Life

Why you should never take nutrition advice from a centenarian

<a href="https://theconversation.com/profiles/bradley-elliott-1014864">Bradley Elliott</a>, <a href="https://theconversation.com/institutions/university-of-westminster-916">University of Westminster</a> It’s a cliche of reporting on people who reach 100 years of age, or even 110, to ask them some variation of the question: “What did you do to live this long?” Inevitably, some interesting and unexpected answer is highlighted. <a href="https://www.theguardian.com/society/2024/apr/05/briton-says-becoming-worlds-oldest-man-at-111-is-pure-luck">Fish and chips</a> every Friday. Drinking a glass of <a href="https://news.sky.com/story/worlds-oldest-man-juan-vicente-perez-dies-aged-114-13107627">strong liquor</a> every day. <a href="https://www.businessinsider.com/susannah-mushatt-jones-loves-bacon-2015-10">Bacon</a> for breakfast every morning. <a href="https://apnews.com/article/health-france-nursing-homes-795c8273f66b61669e93103cc9c25cd0">Wine and chocolate</a>. While a popular news story, this is a relatively meaningless question that doesn’t help us understand why certain people have lived so long. Let me try to explain why, via beautiful buildings, fighter pilots and statistics. In the second world war, Allied statisticians were applying their skills to minimising the number of bombers being shot down by enemy fire. By studying the damage patterns of bombers returning from action, maps could be drawn up of the most frequently damaged parts of aeroplanes so that expensive, heavy armour could be added to these areas. Simple enough, right? Then, along comes statistician Abraham Wald who argues for the exact <a href="https://www.jstor.org/stable/2287454?origin=crossref">opposite point</a>. The planes that they’re studying are all those that did return from combat with extensive damage, but what about those that didn’t return? Wald argues that armour should be added to those places that are undamaged on all the returning planes, as any plane hit in these undamaged areas was shot down, never making it back to be surveyed. <h2>Survivorship bias</h2> This phenomenon is known as survivorship bias, or the cognitive and statistical bias introduced by only counting those that are around to count but ignoring those that haven’t “survived”. You can take these examples to the absurd. Imagine a group of 100 people, all of whom have smoked their entire life. As a group, the smokers would die earlier of cancers, lung disease or heart disease, but one or two might defy the odds and live to 100 years of age. Now imagine the intrepid journalist interviewing the lucky soul on their 100th birthday with that classic question: “What do you attribute your successful ageing to?” “Smoking a pack a day,” says the newly minted centenarian. It seems obvious but survivorship bias is everywhere in society. We can all think of that one famous actor or entrepreneur who succeeded despite adversity, who worked hard, believed in themselves and one day made it. But we never read about or hear about the countless examples of people who tried, gave it their all and never quite made it. That’s not a good media story. But this creates a bias, we primarily hear the successes, never the failures. This bias applies to our perceptions of architecture (mostly great buildings from a given period “survive”), to finances (we often hear examples of people who have succeeded in risky investments, those who fail don’t sell books or self-help plans) and to career plans (“If you work hard, and drop out of college now, you can be a successful athlete like me,” say those who have succeeded). I work with a variety of older people and often include extreme outliers who have lived to extreme ages. We’re currently studying over 65-year-olds who have maintained unusually high levels of exercise into older age and have maintained excellent health. They’re phenomenal examples of older humans, many of them are faster, fitter and stronger than me by many of the measures we perform in the lab, despite being almost twice my age. While we know that their lifelong exercise is associated with their unusually good health into older age, we can’t directly say one causes the other yet. It could be that highly active people are protected against chronic diseases such as cancers, diabetes and heart disease. But it also could be that these people are still active into older age as they’ve not been afflicted by cancers, diabetes or heart disease earlier in their lives. Conversely, there could be some unknown third factor that we’ve not yet identified about these people that both keeps them healthy and separately keeps them exercising. For clarity, there are things that scientists like me will say in carefully caveated, scientific language that will probably help you to live longer. Being very physically active, not eating too much and not smoking are all on that list, along with generally having a positive outlook in life, and of course, picking the right parents and grandparents. Correlation does not equal causation. That point is hammered home relentlessly to students in science degrees. It’s how our brain works, we see a pattern between two variables, and assume they’re linked in some way. But often, like in survivorship bias, we’re not looking at all the data, and so finding patterns where there are none.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/229159/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/bradley-elliott-1014864">Bradley Elliott</a>, Senior Lecturer in Physiology, <a href="https://theconversation.com/institutions/university-of-westminster-916">University of Westminster</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-you-should-never-take-nutrition-advice-from-a-centenarian-229159">original article</a>.

Retirement Life

Why it’s still a scientific mystery how some can live past 100 – and how to crack it

<a href="https://theconversation.com/profiles/richard-faragher-224976">Richard Faragher</a>, <a href="https://theconversation.com/institutions/university-of-brighton-942">University of Brighton</a> and <a href="https://theconversation.com/profiles/nir-barzilai-1293752">Nir Barzilai</a>, <a href="https://theconversation.com/institutions/albert-einstein-college-of-medicine-3638">Albert Einstein College of Medicine</a> A 35-year-old man <a href="https://pubmed.ncbi.nlm.nih.gov/18544745/">only has a 1.5% chance of dying in the next ten years</a>. But the same man at 75 has a 45% chance of dying before he reaches 85. Clearly, ageing is bad for our health. On the bright side, we have made unprecedented progress in understanding the fundamental mechanisms that control ageing and late-life disease. A few tightly linked biological processes, sometimes called the <a href="https://pubmed.ncbi.nlm.nih.gov/23746838/">“hallmarks of ageing”</a>, including our supply of stem cells and communication between cells, act to keep us healthy in the early part of our lives – with <a href="https://theconversation.com/the-secret-to-staying-young-scientists-boost-lifespan-of-mice-by-deleting-defective-cells-54068">problems arising as these start to fail</a>. <a href="https://pubmed.ncbi.nlm.nih.gov/34699859/">Clinical trials are ongoing</a> to see if targeting some of these hallmarks can improve <a href="https://pubmed.ncbi.nlm.nih.gov/31542391/">diabetic kidney disease</a>, <a href="https://pubmed.ncbi.nlm.nih.gov/29997249/">aspects of</a> <a href="https://pubmed.ncbi.nlm.nih.gov/33977284/">immune function</a> and age-related <a href="https://pubmed.ncbi.nlm.nih.gov/30616998/">scarring of the lungs</a> among others. So far, so good. Unfortunately, big, unanswered questions remain in the biology of ageing. To evaluate what these are and how to address them, the <a href="https://www.afar.org/">American Federation For Aging Research</a>, a charity, recently convened a series of <a href="https://www.afar.org/imported/AFAR_GeroFuturesThinkTankReport_November2021.pdf">meetings for leading scientists and doctors</a>. The experts agreed that understanding what is special about the biology of humans who survive more than a century is now a key challenge. These centenarians <a href="https://www.statista.com/chart/18826/number-of-hundred-year-olds-centenarians-worldwide/">comprise less than 0.02% of the UK population</a> but have exceeded the life expectancy of their peers by almost 50 years (babies born in the 1920s typically had a life expectancy of less than 55). How are they doing it? We know that centenarians live so long because they are unusually healthy. They remain in good health for about 30 years longer than most normal people and when they finally fall ill, they are only sick for a very short time. This <a href="https://pubmed.ncbi.nlm.nih.gov/27377170/">“compression of morbidity”</a> is clearly good for them, but also benefits society as a whole. In the US, the medical care costs for a centenarian in their last two years of life <a href="https://www.cdc.gov/nchs/data/series/sr_10/sr10_198.pdf">are about a third of those of someone who dies in their seventies</a> (a time when most centenarians don’t even need to see a doctor). The children of centenarians are also much healthier than average, indicating they are inheriting something beneficial from their parents. But is this genetic or environmental? <h2>Centenarians aren’t always health conscious</h2> Are centenarians the poster children for a healthy lifestyle? For the general population, watching your weight, not smoking, drinking moderately and eating at least five servings of fruit and vegetables a day can <a href="https://pubmed.ncbi.nlm.nih.gov/27296932/">increase life expectancy by up to 14 years</a> compared with someone who does none of these things. This difference <a href="https://publications.parliament.uk/pa/ld5801/ldselect/ldsctech/183/18305.htm#_idTextAnchor012">exceeds that seen</a> between the least and most deprived areas in the UK, so intuitively it would be expected to play a role in surviving for a century. But astonishingly, this needn’t be the case. <a href="https://pubmed.ncbi.nlm.nih.gov/21812767/">One study</a> found that up to 60% of Ashkenazi Jewish centenarians have smoked heavily most of their lives, half have been obese for the same period of time, less than half do even moderate exercise and under 3% are vegetarians. The children of centenarians appear no more health conscious than the general population either. Compared to peers with the same food consumption, wealth and body weight, however, <a href="https://pubmed.ncbi.nlm.nih.gov/29050682/">they have half the prevalence of cardiovascular disease</a>. There is something innately exceptional about these people. <h2>The big secret</h2> Could it be down to rare genetics? If so, then there are two ways in which this could work. Centenarians might carry unusual genetic variants that extend lifespan, or instead they might lack common ones that cause late-life disease and impairment. Several studies, including our own work, <a href="https://pubmed.ncbi.nlm.nih.gov/32860726/">have shown</a> that centenarians have just as many bad genetic variants as the general population. Some even carry two copies of the largest known common risk gene for Alzheimer’s disease (APOE4), but still don’t get the illness. So a plausible working hypothesis is that centenarians carry rare, beneficial genetic variations rather than a lack of disadvantageous ones. And the best available data is consistent with this. Over 60% of centenarians have genetic changes that alter the genes which regulate growth in early life. This implies that these remarkable people are human examples of a type of lifespan extension observed in other species. Most people know that <a href="https://pubmed.ncbi.nlm.nih.gov/28803893/">small dogs tend to live longer than big ones</a> but fewer are aware that this is a general phenomenon across the animal kingdom. <a href="https://pubmed.ncbi.nlm.nih.gov/26857482/">Ponies can live longer than horses</a> and many strains of laboratory mice with dwarfing mutations <a href="https://pubmed.ncbi.nlm.nih.gov/29653683/">live longer than their full-sized counterparts</a>. One potential cause of this is reduced levels of a growth hormone called IGF-1 – although human centenarians <a href="https://pubmed.ncbi.nlm.nih.gov/28630896/">are not necessarily shorter than the rest of us</a>. Obviously, growth hormone is necessary early on in life, but there is increasing evidence that high levels of IGF-1 in mid to late life <a href="https://pubmed.ncbi.nlm.nih.gov/18316725/">are associated with increased late-life illness</a>. The detailed mechanisms underlying this remain an open question, but even among centenarians, women with the lowest levels of growth hormone <a href="https://pubmed.ncbi.nlm.nih.gov/24618355/">live longer than those with the highest</a>. They also have better cognitive and muscle function. That doesn’t solve the problem, though. Centenarians are also different from the rest of us in other ways. For example, they tend to have good cholesterol levels – hinting there may several reasons for their longevity. Ultimately, centenarians are “natural experiments” who show us that it is possible to live in excellent health even if you have been dealt a risky genetic hand and chose to pay no attention to health messages – but only if you carry rare, poorly understood mutations. Understanding exactly how these work should allow scientists to develop new drugs or other interventions that target biological processes in the right tissues at the right time. If these become a reality perhaps more of us than we think will see the next century in. But, until then, don’t take healthy lifestyle tips from centenarians.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/172020/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/richard-faragher-224976">Richard Faragher</a>, Professor of Biogerontology, <a href="https://theconversation.com/institutions/university-of-brighton-942">University of Brighton</a> and <a href="https://theconversation.com/profiles/nir-barzilai-1293752">Nir Barzilai</a>, Professor of Medicine and Genetics, <a href="https://theconversation.com/institutions/albert-einstein-college-of-medicine-3638">Albert Einstein College of Medicine</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-its-still-a-scientific-mystery-how-some-can-live-past-100-and-how-to-crack-it-172020">original article</a>.

Retirement Life

Pop legend dies just days after retiring

One of the founding members of British pop band Black Lace has passed away at the age of 70, just days after announcing his retirement. Colin Gibb was best known as the longest-standing member of the band, famed for their tunes such as the Aussie hit Agadoo and Do the Conga. Black Lace became a household name after finishing seventh for the UK at the Eurovision Song Contest in 1979 with their song, Mary Ann. On Sunday, Gibb's wife Sue Kelly told fans her “dearest husband” had died in the afternoon, sharing the news on Facebook. Alongside a photo of the couple, she wrote, “I love you Colin, spent 22 years living your Agadoo dream, we were due to retire to Spain on Thursday, you were so happy, so looking forward to our new life, now you’re gone." “As we used to say, always love you forever.” Just days before his passing, Gibb took to his social media page to tell fans he would be playing one final show that week as he thanked them for their support over the years. He wrote, “Well all good things must come to an end. I have decided to retire." Despite numerous line-up changes over the years, Gibb – born Colin Routh – stuck with Black Lace for decades, seeing them through the height of their success in the 1980s. Image credits: Facebook

Caring

Five tips to help you start new hobbies in retirement

<a href="https://theconversation.com/profiles/alison-bishop-1522973">Alison Bishop</a>, <a href="https://theconversation.com/institutions/university-of-east-london-924">University of East London</a> Retirement can be an exciting but also scary prospect for many. How you fill your time is totally up to you, but with so many choices it can be a bit daunting. But it’s important to make sure you keep active, physically and mentally. Hobbies can <a href="https://www.careuk.com/help-advice/why-are-long-lost-hobbies-important-for-older-people">increase wellbeing</a> by boosting brain function, enhancing social skills and improving fine motor skills. <a href="https://www.researchgate.net/publication/366160647_Psychological_benefits_of_hobby_engagement_in_older_age_a_longitudinal_cross-country_analysis_of_93263_older_adults_in_16_countries">A study carried out in 2022</a> found that spending time on hobbies was associated with lower symptoms of depression and a perceived increase in a person’s sense of health, happiness and overall life satisfaction. However, many older people don’t take up hobbies for all sorts of reasons. This might include fears that they are not as good at something in their older age as they were when they were younger. This fear of trying new things can lead to increased feelings of <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4338142/">loneliness and isolation</a>. Here are five tips using <a href="https://ppc.sas.upenn.edu/sites/default/files/ppintroarticle.pdf">positive psychology</a> that could help you or someone in your life if they are scared or nervous about picking up a hobby. <h2>1. Broaden your strengths</h2> Our idea of what we are good at is formed at a very young age and often reflects subjects that we were good at in our school days. Positive psychology’s “<a href="https://www.viacharacter.org/character-strengths-and-virtues">theory of strengths</a>” encourages us to think more broadly about what constitutes a strength. For instance, it considers curiosity, kindness and bravery as strengths. When applied to choosing a hobby, it means that if you believe one of your strengths is kindness, you could consider working in outreach or charity as a hobby or spending time speaking with people who are housebound. <h2>2. Find activities you already enjoy</h2> The “<a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1693418/pdf/15347528.pdf?inf_contact_key=9944754ba1372fa9ce5ee1421d8427bc">broaden and build theory”</a> suggests that when we feel positive emotions such joy or love, we are more likely to engage in new activities, thoughts and behaviours. It follows then, that if you look at times in your life when you experience these emotions this could help you start a new hobby. So, if you enjoy walking in the countryside, then the theory suggests that those feelings would enable you to join a rambling club. <h2>3. Remember moments you’ve lost track of time</h2> Another way to identify an activity that would be good to do is by using “<a href="https://www.medicalnewstoday.com/articles/flow-state#what-it-is">flow theory”</a>. This suggests that when we are doing something that we become completely absorbed in, that our brainwave patterns change and we can lose track of time. For this to happen, we need an activity that is meaningful to us to complete, with just the right amount of challenge so that it is not too easy or too hard. An exercise that reveals your personal flow template involves looking back on your life to find as many times as possible when you’ve been doing something and completely lost track of time. Write these down and see if these moments have anything in common. For example, are they all creative activities or all outdoors and physical? This will reveal something about yourself and the type of activity that is aligned with who you are, and could suggest new hobbies. <h2>4. Be kind to yourself</h2> “<a href="https://self-compassion.org/">Self-compassion theory</a>” teaches us the importance of being as kind to ourselves as we would be to a friend. When we are thinking about what we are good at, we can be unkind to ourselves by comparing ourselves unfavourably to others or to an imagined high standard. Self-compassion theory states that our imperfections make us human, and it is our shared knowledge of this that connects us to others. Where a goal in an activity is kindness with ourselves and those doing the activity with us rather than performance, we can access a new more meaningful reason to take part in something. <h2>5. Imagine your perfect day</h2> The last tip from positive psychology involves creating <a href="https://www.thepositivepsychologypeople.com/reflections-on-a-beautiful-day/">a story of the perfect average day</a> and then planning to actually live it. How do your hobbies fit into this? How does this day tap into your broadened idea of your strengths? How does it include kindness to yourself and others? It also helps to identify goals either for retirement more generally or for participating in a hobby. By picturing the perfect average day you can create more meaning and purpose in life by seeing how all the parts of your life fit together. It also reveals short term goals for example, if you plan to go to an art club but can’t get there, then a goal could be asking for a lift from another club member. When these pieces are in place, hope is ignited, and a vision created of how life can go forward so that you really can live your best retired life. <a href="https://theconversation.com/profiles/alison-bishop-1522973">Alison Bishop</a>, Lecturer in Positive Psychology Coaching, <a href="https://theconversation.com/institutions/university-of-east-london-924">University of East London</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/five-tips-to-help-you-start-new-hobbies-in-retirement-226764">original article</a>.

Retirement Life

How do I plan for my retirement? Step one – start right away

<a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> Planning for retirement is important because it will help you build the nest egg you’ll need to financially sustain your retirement years. Past <a href="https://www.tandfonline.com/doi/epdf/10.1080/03601277.2012.660859?needAccess=true">studies</a> have shown that those who plan for their retirement are more likely to be better off at retirement compared to those don’t. The sooner the planning process gets underway, the better. This gives your money more time to grow by generating investment returns. And the income from your first job is your first opportunity to save for retirement. As the saying goes: “The best time to plant a tree was 20 years ago. The second best time is now.” As people <a href="https://www.statssa.gov.za/?p=15601">can expect to live longer</a>, they must save more for retirement so that they don’t outlive their savings. This is particularly true given that the pensions landscape worldwide has undergone some major changes. In the past, governments and employers provided retirement income for individuals through government social security benefits and employment-based retirement funds. Because of increasing life expectancies, pension plans that guaranteed a retirement benefit to employees are now rare. Employees are now responsible for making contributions towards their own pensions as well as choosing the investments offered by the pension fund. Since employers are no longer responsible for funding their employees’ retirement and governments lack resources to provide a universal state pension, each person is ultimately responsible for ensuring they have enough retirement savings. So it’s very important to know the basics of the retirement planning process. As a researcher, I’m interested in how people use financial products to overcome economic challenges and build wealth. One of the things I investigate is whether planning for retirement leads to better retirement outcomes. For instance, my <a href="https://www.researchgate.net/profile/Bomikazi-Zeka-2/publication/340130176_Retirement_funding_adequacy_in_black_South_African_townships/links/5e8bf3924585150839c6408b/Retirement-funding-adequacy-in-black-South-African-townships.pdf?_sg%5B0%5D=started_experiment_milestone&origin=journalDetail&_rtd=e30%3D">research</a> has found that individuals whose financial affairs are in order are more likely to maintain their standard of living at retirement. Given that everyone’s financial situation is unique, it’s always a good idea to speak to a financial planner for tailored financial advice. If you haven’t given retirement planning much thought or don’t know where to start, here are four points to help get the ball rolling. <h2>What are my retirement goals?</h2> Retirement goals make you think about what you want to achieve by the time you retire and what you need to do to achieve it. Some people may have a goal in mind about when they want to retire, or how much wealth they’d like to have by the time they retire. And since wealth has different meanings for different people, others may think about maintaining or improving their standard of living at retirement. Once you’ve thought about your retirement goals, the <a href="https://corporatefinanceinstitute.com/resources/management/smart-goal/">“smart” goals</a> framework is a useful guide. It outlines that goals should be: specific, measurable, attainable, relevant and time-bound. When goals are clear, within reach, achievable, realistic and time-sensitive, they become a blueprint to help you turn them into a reality. <h2>How do I start saving for retirement?</h2> For those who have a job that comes with retirement fund membership, a workplace pension is used to provide for retirement. But there are also other options available to help you save. For instance, retirement annuity funds are voluntary retirement savings. Personal assets such as <a href="https://www.allangray.co.za/what-we-offer/unit-trust-investment/#fund-3">unit trusts</a> or <a href="https://www.gov.za/faq/money-matters/how-can-i-make-tax-free-investment">tax-free investments</a> can also be used as a savings tool. Unit trusts are generally better suited for people willing to take on risk because their value is tied to the movements of financial markets. In other words, they can generate positive returns but they can also lose value. The drawback of tax-free investments in South Africa is that they have a lifetime contribution limit. You can’t use them to save more than R500,000 (US$27,400). Each of these options has its advantages and disadvantages and what works best for one person may not be best for another. But there are several ways to save for retirement depending on your financial situation and retirement goals. Getting professional advice will help you determine what’s best for you. <h2>Will my retirement savings be enough?</h2> Once you’ve set your retirement goals and have a retirement savings plan in place, you can calculate whether you are saving enough to achieve your retirement goals. For example, if your retirement goal is: “I want to retire at the age of 65 years with an income equivalent to R35,000 (US$1,900) per month” then you can use a <a href="https://www.sanlam.co.za/tools/Pages/retirement.aspx">retirement calculator</a> to track your progress and determine whether you need to make adjustments to meet your goals. You might have to increase the monthly amount you’re putting away for retirement or reconsider your retirement age. The retirement calculators are also a useful tool for regular check-ins on your progress should your financial situation change – for example, if you change employers and earn a different salary. <h2>What other issues should I consider?</h2> It’s also important to think about your lifestyle and priorities. For instance: <ul> <li> do you aim to retire with your mortgage settled? </li> <li> are there debts you plan to clear before you retire or children who need financial support at retirement? </li> <li> would you like to renovate your home? </li> <li> would you like to buy a new car when you reach retirement age? </li> </ul> Another important consideration is healthcare costs. Many people assume that they will be able to work indefinitely and overlook the fact that healthcare costs may increase with age. <h2>Starting early matters</h2> Many people plan to work after retirement age, while others don’t plan to retire at all. It may be that they can’t afford to. They may have accessed their retirement benefits too soon, made inconsistent retirement fund contributions, or had to pay high administrative costs that eroded the final value of a retirement payout. So best be prepared. Retirement may seem like a distant event to plan and save for, especially when there are more pressing financial needs. It’s important to think about the financial decisions you make now that may cost you in the future. If you start to plan for your retirement now, your future self will thank you for it.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/230553/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, Assistant Professor in Finance and Financial Planning, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-do-i-plan-for-my-retirement-step-one-start-right-away-230553">original article</a>.

Retirement Income

World's oldest woman turns 117

One of the world's oldest living person has turned 117. Maria Branyas Morera born on March 4, 1907 in San Francisco, lived through the 1918 pandemic, the two World Wars, Spain’s civil war and fully recovered after contracting Covid just days before her 113th birthday. She was one of the world's oldest Covid survivor's in 2020 and is now the 12th oldest verified person in history. Maria, who moved to Catalonia, Spain when she was eight, proudly announced her age on X, formerly known as Twitter in a post that read: “Good morning, world. Today I turn 117 years old. I’ve come this far.” Maria, who has lived in a nursing home for the past 23 years, is healthier than ever aside from hearing difficulties and mobility issues, and scientists are studying her to find out the secrets to a long life. “She remembers with impressive clarity events from when she was only four years old, and she does not present any cardiovascular disease, common in elderly people," Scientist Manel Esteller told Spanish outlet ABC. “It is clear that there is a genetic component because there are several members of her family who are over 90 years old.” Scientists and Maria are working together to gain further insights into living longer, and researchers hope that studying Maria’s genes will help with the development of drugs which could combat diseases associated with ageing. Maria had three children with her husband a Catalan doctor named Joan Moret. Her husband passed away 1976, and Maria also outlived her only son, August who tragically passed away in a tractor accident when he was 86. Maria now has two daughters, 11 grandchildren and 11 great-grandchildren. The oldest person ever established was a Frenchwoman named Jeanne Calment, who lived to the age of 122 years and 164 days. Image: news.com.au/ Guiness Book of Records

Family & Pets

Read this before choosing a retirement village

Making the move from your own home into a retirement village is a huge decision. And with more than 2,000 villages around the country there’s a world of choice. These are some of the things you need to know before you make the move. Get your priorities straight Think about the kind of village you can see yourself living in. Make a list of features that you absolutely must have and a list of those that are desirable but not essential. Don’t be tempted to compromise on the first list because you could end up very unhappy in the long run. Do your research and find a village that meets your requirements. Don’t rush into somewhere that you aren’t completely sure about. Money, money, money Retirement villages aren’t cheap so you’ll need to be realistic about what it’s going to cost and how much you have to spend. It’s a good idea to see a professional financial adviser to get a complete picture of your financial situation, including things like selling your current home, super and any shares you own. You will have to sign a contract with the village before you move in, so get your financial adviser or a lawyer to go over it with you and make sure you understand all your obligations. Location is key As with any move, you need to think carefully about location. If the village is a long way from your current residence it can drastically alter your social life and connections with friends and family. You also need to think about proximity to public transport, shops, health services and community activities. Choose your style Retirement villages range from self-contained independent living to serviced accommodation and residential aged care. They also vary greatly in size from just a handful of units to villages with hundreds of residents. Larger villages tend to have more facilities, so if you’re an active person who loves to swim or play tennis then this could be the choice for you. However, extra facilities come with extra costs so if these aren’t important to you then you could find a cheaper option. You’ll also want to find out about communal dining options and social activities or groups within the village. Get the help you need As with accommodation styles, there is a wide range in the levels of assistance available. This can be as basic as having a cleaner come once a week right up to full nursing care. Some villages have the option to raise your level of care as you age or become unwell, which can be a better option than moving into a new village. Stick to the rules Can visitors stay the night? Can I have a pet? Is there a system for resolving disputes? You’ll want to be familiar with the rules and regulations of the village so read the fine print in your contract or ask questions before you commit. Image credits: Getty Images

Retirement Life

The one thing you must do before retirement

When you think about planning for retirement, the standard advice is to take a thorough look at your superannuation and finances. Although money is undoubtedly an important aspect of retirement planning, making a plan for your emotion and physical wellbeing is just as crucial. New research from the UK has found that retirement can have a negative impact on your mental and physical health. The study, published by the Institute of Economic Affairs, looked at the impact of retirement on 7,000 people aged 50 to 70, and found that while retirement gives most people a small health booth, over the medium to long-term it causes a “drastic decline in health”. For both men and women, retirement decreases the likelihood of "very good” or "excellent" self-reported health by 40 per cent, increases risk for depression by 40 per cent, and diagnosis of a physical illness by 60 per cent. The study’s lead author, Gabriel Sahlgren, noted: "Work, especially paid work, gives many people a sense of purpose. Losing that may lead to declines in health." The lesson: Make a plan for your emotional and physical health. “Don't wait until you retire to decide how you're going to keep busy,” Dave Bernard, retirement blogger and author of Are You Just Existing and Calling it a Life?, told Prevention, adding, “And you need to look well beyond the first six months.” Just as it’s necessary to make sure your finances are in order before retirement, it’s crucial to ask yourself: What will my new sense of purpose in retirement be? “Many times, adults might not think about what it actually means to be retired, or they think about retirement in abstract terms,” says Angela Curl, an assistant professor in the University of Missouri School of Social Work. She says you need to make concrete plans for retirement. “If you want to volunteer when you are retired, ask yourself where and how often. Having specific plans and steps to follow will help you enter retirement more easily,” says Curl. Creating a plan of how you’ll spend your time when you retire will keep you mentally and physically strong, ensuring that you’ll be healthy enough to enjoy your well-deserved retirement. Image credits: Getty Images

Retirement Life

Most expensive countries to retire in revealed

Australia has become one of the most expensive countries in the world to spend your retirement, with experts sharing how much we need to retire comfortably. Australia is now regarded as the world's seventh most expensive place to retire, and is also a major target for scammers, given the country’s superannuation initiative. Swedish loan broking group Sambla calculated Australians need at least $640,911 to retire comfortably, with this hefty amount one of the biggest in the world. Australia's 4.1 per cent inflation rate is also higher than most of the rich world, which means a retiree would need $34,221 a year to survive, provided they aren't renting. Australia is also a target for scammers, having $3.6trillion in superannuation savings, or the fourth highest pool in the world. In comparison, Switzerland has been named the most expensive place in the world to retire, requiring $927,034 in retirement savings to grow old in the Alps, translating into annual costs of $46,632. Check out the entire top ten list of most expensive countries to retire below. 10. France. $583,950 in retirement savings required 9. Austria. $598,434 in retirement savings required 8. Iceland. $607,558 in retirement savings required 7. Australia. $640,911 in retirement savings required 6. Canada. $665,752 in retirement savings required 5. Liechtenstein. $772,984 in retirement savings required 4. Singapore. $773,456 in retirement savings required 3. Qatar. $791,029 in retirement savings required 2. Monaco. $795,431 in retirement savings required 1. Switzerland. $927,035 in retirement savings required Image credits: Getty Images

Retirement Life

Monty Python star's candid financial admission

Monty Python star Eric Idle has made a candid admission about the state of his finances, revealing why he still has to work at the age of 80. The comic legend admitted he receives only a fraction of the millions the Python team have made in the past because the finances are a “disaster”. In messages on X, formerly Twitter, Idle wrote: “I don’t know why people always assume we’re loaded”. “I have to work for my living. I never dreamed that at this age the income streams would tail off so disastrously." “I have been working and earning for Pythons since 1995. And now no more.” Idle also took aim at TV lawyer Holly Gilliam, the daughter of fellow Python member Terry Gilliam, who took over the Python brand in 2013 as part of HDG Projects Ltd. He said, “I guess if you put a Gilliam child in as your manager you should not be so surprised”. “One Gilliam is bad enough. Two can take out any company.” Daughter Lily Idle backed him, writing online, “I’m so proud of my dad for finally finally finally starting to share the truth.” The Pythons, who also included John Cleese, 84, Michael Palin, 80, and the late Terry Jones — made a fortune thanks to their iconic cult films, including Life of Brian, hit stage show Spamalot, which Idle co-wrote, and the original Flying Circus BBC TV series. They were back in the limelight in 2014 with Monty Python Live (Mostly) — One Down, Five to Go: a reference to former member Graham Chapman who died in 1989 aged just 48. It featured interpretations of some of their famous sketches, and reportedly earned the surviving members at least £2 million ($3.87m AUD) each. Image credits: Getty Images

Retirement Income

How do I handle it if my parent is refusing aged care? 4 things to consider

<a href="https://theconversation.com/profiles/lee-fay-low-98311">Lee-Fay Low</a>, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> It’s a shock when we realise our parents aren’t managing well at home. Perhaps the house and garden are looking more chaotic, and Mum or Dad are relying more on snacks than nutritious meals. Maybe their grooming or hygiene has declined markedly, they are socially isolated or not doing the things they used to enjoy. They may be losing weight, have had a fall, aren’t managing their medications correctly, and are at risk of getting scammed. You’re worried and you want them to be safe and healthy. You’ve tried to talk to them about aged care but been met with swift refusal and an indignant declaration “I don’t need help – everything is fine!” Now what? Here are four things to consider. <h2>1. Start with more help at home</h2> Getting help and support at home can help keep Mum or Dad well and comfortable without them needing to move. Consider drawing up a roster of family and friends visiting to help with shopping, cleaning and outings. You can also use home aged care services – or a combination of both. Government subsidised home care services provide from one to 13 hours of care a week. You can get more help if you are a veteran or are able to pay privately. You can take advantage of things like rehabilitation, fall risk-reduction programs, personal alarms, stove automatic switch-offs and other technology aimed at increasing safety. Call <a href="https://www.myagedcare.gov.au/">My Aged Care</a> to discuss your options. <h2>2. Be prepared for multiple conversations</h2> Getting Mum or Dad to accept paid help can be tricky. Many families often have multiple conversations around aged care before a decision is made. Ideally, the older person feels supported rather than attacked during these conversations. Some families have a meeting, so everyone is coming together to help. In other families, certain family members or friends might be better placed to have these conversations – perhaps the daughter with the health background, or the auntie or GP who Mum trusts more to provide good advice. Mum or Dad’s main emotional support person should try to maintain their relationship. It’s OK to get someone else (like the GP, the hospital or an adult child) to play “bad cop”, while a different person (such as the older person’s spouse, or a different adult child) plays “good cop”. <h2>3. Understand the options when help at home isn’t enough</h2> If you have maximised home support and it’s not enough, or if the hospital won’t discharge Mum or Dad without extensive supports, then you may be <a href="https://academic.oup.com/gerontologist/article/60/8/1504/5863160">considering a nursing home</a> (also known as residential aged care in Australia). Every person has a legal right to <a href="https://humanrights.gov.au/our-work/9-your-right-choose-where-you-live">choose where we live</a> (unless they have lost capacity to make that decision). This means families can’t put Mum or Dad into residential aged care against their will. Every person also has the right to choose to take risks. People can choose to continue to live at home, even if it means they might not get help immediately if they fall, or eat poorly. We should respect Mum or Dad’s decisions, even if we disagree with them. Researchers call this “dignity of risk”. It’s important to understand Mum or Dad’s point of view. Listen to them. Try to figure out what they are feeling, and what they are worried might happen (which might not be rational). Try to understand what’s really important to their quality of life. Is it the dog, having privacy in their safe space, seeing grandchildren and friends, or something else? Older people are often understandably concerned about losing independence, losing control, and having strangers in their personal space. Sometimes families prioritise physical health over psychological wellbeing. But we need to consider both when considering nursing home admission. <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9826495/">Research</a> suggests going into a nursing home temporarily increases loneliness, risk of depression and anxiety, and sense of losing control. Mum and Dad should be involved in the decision-making process about where they live, and when they might move. Some families start looking “just in case” as it often takes some time to <a href="https://www.abc.net.au/everyday/questions-to-ask-when-choosing-an-aged-care-home-for-a-loved-one/10302590">find the right nursing home</a> and there can be a wait. After you have your top two or three choices, take Mum or Dad to visit them. If this is not possible, take pictures of the rooms, the public areas in the nursing home, the menu and the activities schedule. We should give Mum or Dad information about their options and risks so they can make informed (and hopefully better) decisions. For instance, if they visit a nursing home and the manager says they can go on outings whenever they want, this might dispel a belief they are “locked up”. Having one or two weeks “respite” in a home may let them try it out before making the big decision about staying permanently. And if they find the place unacceptable, they can try another nursing home instead. <h2>4. Understand the options if a parent has lost capacity to make decisions</h2> If Mum or Dad have lost capacity to choose where they live, family may be able to make that decision in their best interests. If it’s not clear whether a person has capacity to make a particular decision, a medical practitioner can assess for that capacity. Mum or Dad may have appointed an <a href="https://www.tag.nsw.gov.au/wills/appoint-enduring-guardian/what-enduring-guardian">enduring guardian</a> to make decisions about their health and lifestyle decisions when they are not able to. An enduring guardian can make the decision that the person should live in residential aged care, if the person no longer has the capacity to make that decision themselves. If Mum or Dad didn’t appoint an enduring guardian, and have lost capacity, then a court or tribunal can <a href="https://www.tag.nsw.gov.au/guardianship/information-about-guardianship">appoint</a> that person a private guardian (usually a family member, close friend or unpaid carer). If no such person is available to act as private guardian, a public official may be appointed as public guardian. <h2>Deal with your own feelings</h2> Families often feel <a href="https://link.springer.com/article/10.1007/s12144-023-04538-9">guilt and grief</a> during the decision-making and transition process. Families need to act in the best interest of Mum or Dad, but also balance other caring responsibilities, financial priorities and their own wellbeing.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/221210/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/lee-fay-low-98311">Lee-Fay Low</a>, Professor in Ageing and Health, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-do-i-handle-it-if-my-parent-is-refusing-aged-care-4-things-to-consider-221210">original article</a>.

Boss slammed for demanding "insane" farewell gift contribution

A boss in London has been slammed after asking his employees to chip in almost $100 each for an expensive farewell gift for a co-worker. In a TikTok, London-resident Ben Askins read out the anonymous submission from one of the employees who was fed up after his manager “forced” everyone in the team to contribute because it was "compulsory". “Hey, noticed you hadn’t paid into the leaving present for Josh yet. Can you send me the £50 (AU$95) today? I want to put the purchase in by the end of the day,” the boss said in the text. Shocked by the "insane" amount of money, the employee replied: “Can I ask why it is so expensive? “Money is a little tight right now and to be asked to put in so much feels like a lot.” However, the manager didn't take his employee's financial situation into consideration, and said: “Josh has led the company for three years now and I think it’s nice gesture to show our appreciation.” The employee hit back: “I appreciate that but he makes so much more money than me and for me to be asked to put in so much feels weird especially as I never really worked with him”. But, the manager insisted that the employee needed to make a contribution. “This is compulsory I am afraid, it is not fair for me to ask some people and not others. Besides it isn’t that much all things considered," he said, and the employee conceded. It is unclear what happened after, but the texts have gone viral with over 2.2 million views thanks to Askins' <a href="https://www.tiktok.com/@ben.askins/video/7307322849407028513" target="_blank" rel="noopener">video</a>. Askins, who’s a managing director and co-founder of a digital agency, weighed in on the ordeal. “I don’t like this at all. I don’t mind leaving presents as a concept, right? But companies should pay it,” he said. “Companies should take responsibility, set a budget and they should pay for themselves. If you want to get something small for your best mate at work, that’s totally different, that’s well within your right. “But this sort of compulsory, ‘everyone’s got to chip in’, I absolutely hate," he added. He also said that the manager's actions are "really poor" and asking for that amount "is just ridiculous, it’s an insane amount". “It might not be much money for him but it is clearly a lot for this person so it’s just not fair what he’s doing,” he concluded. Images: TikTok

Retirement Life

Downsizing cost trap awaits retirees – five reasons to be wary

<a href="https://theconversation.com/profiles/erika-altmann-361218">Erika Altmann</a>, <a href="https://theconversation.com/institutions/university-of-tasmania-888">University of Tasmania</a> It’s time to debunk the myth of zero housing costs in retirement if we want to understand why retirees resist downsizing. Retirees have at least five reasons to be wary of the costs of downsizing. Retirees living in middle-ring suburbs face frequent calls to downsize into apartments to free up larger allotments in these suburbs for redevelopment. Retirees who fail to downsize into smaller units and apartments are viewed as being a greedy, baby-boomer elite, stealing financial security from younger generations. It also makes sense to policymakers for retirees to move into less spacious accommodation and make way for high-density housing. Housing think-tank AHURI <a href="http://www.ahuri.edu.au/__data/assets/pdf_file/0021/14079/AHURI_Final_Report_No_286_Australian-demographic-trends-and-implications-for-housing-assistance-programs.pdf">fosters this view</a>. Yet seniors remain resistant to moving, in part because of the ongoing costs they would face. The concept of zero housing costs in retirement is based on a 1940s view of a well-maintained, single dwelling on a single allotment of land where the mortgage has been paid off. This concept is incompatible with medium- and high-density housing and refusing to acknowledge ongoing housing costs may cause significant poverty for retirees. <h2>Reason 1 – upfront moving costs are high</h2> When a house is sold the owner receives the sale funds minus the real estate and legal fees. When the same person then buys a different property to live in, they pay legal fees plus stamp duty. For cities such as Melbourne and Sydney, these costs are likely to exceed A$70,000. These high transfer costs may mean it is not cost-effective <a href="https://theconversation.com/why-older-australians-dont-downsize-and-the-limits-to-what-the-government-can-do-about-it-76931">for the person to move</a>. <h2>Reason 2 – levies are high</h2> Because apartment owners pay body corporate levies, people often assume this is just the same as periodic payment of rates, water, insurance and other costs. It is not. Fees remissions for low-income retirees for rates, power, insurance and water are difficult to apply within a body corporate environment. As a consequence, these are usually not applied to owners of apartments. The costs of maintaining essential services, such as mandatory fire-alarm testing, yearly engineering certification, lift and air-conditioning inspections, significantly increase ownership costs. When additional services are supplied, such as swimming pools, gyms and rooftop gardens, these also require periodic inspections. Garbage collection, cleaning, gardening, concierge and strata management services also <a href="https://eprints.utas.edu.au/cgi/users/home?screen=EPrint%3A%3AView&eprintid=23322">must be paid</a>. Owners of standard suburban homes choose whether they want these services, with those on fixed incomes going without them. Annual levies for apartment buildings vary, but expect to pay between $10,000 and $15,000. They <a href="https://www.strata.community/understandingstrata/faqs">may be more than this</a>. <h2>Reason 3 – costs of maintenance</h2> <figure class="align-right "><figcaption></figcaption></figure> Apartments are often sold as a maintenance-free solution for older people. The maintenance is not free. It needs to be paid for. Maintenance costs are higher in an apartment than a standard suburban home because there are more items and services to be maintained and fixed. Lifts and air conditioning need periodic servicing and fixing. This is in addition to the mandatory inspections listed above. <h2>Reason 4 – loss of financial security</h2> It is a mistaken belief that the maintenance costs that form part of the body corporate fee include periodic property upgrades. This relates to items that are owned collectively with other apartment owners. Major servicing at the ten-year mark and usually each five-to-seven years after that include painting, floor-covering replacement, and lift and air-conditioning repair or replacement. Major upgrades may also include garden redesign or other external building enhancement including <a href="https://eprints.utas.edu.au/cgi/users/home?screen=EPrint%3A%3AView&eprintid=23315">environmental upgrades</a>. All owners share these upgrade costs. Costs of upgrading the inside of an apartment (a bathroom disability upgrade, for example) are additional again. Once the body corporate committee members pledge funds towards an upgrade, all owners are required to raise their share of the funds, whether they can afford it or not. Communal choice outweighs an individual owner’s need to delay upgrade costs. Owners who buy apartments that are part of a body corporate effectively lose control of their future financial decisions. <h2>Reason 5 – loss of security of tenure</h2> Loss of security of tenure is usually associated with renters. However, the recent introduction of <a href="http://www.lpi.nsw.gov.au/__data/assets/pdf_file/0009/25965/Termination_of_a_strata_scheme_by_RG.pdf">termination legislation</a> in New South Wales gives other owners the right to vote to terminate a strata title scheme. When this occurs, all owners, including reluctant owners of apartments within that scheme, are compelled to sell. There are valid reasons why termination legislation is desirable, as many older apartment complexes are reaching the end of their useful life. Even so, as termination legislation is rolled out across the states, owner- occupiers effectively lose control of how long they will own a property for. They no longer have security of tenure, which means retirees may face an uncertain housing future in their old age. <h2>Downsizing raises poverty risks</h2> Because current data sets do not adequately take account of ongoing costs associated with apartment living, the effect of downsizing on individual households is masked. Downsizing retirees into the apartment sector creates ongoing financial stress for older people. Creating <a href="https://theconversation.com/it-will-take-more-than-piecemeal-reforms-to-convince-older-australians-to-downsize-51043">tax incentives to move</a> does not tackle these ongoing costs. Centrelink payments for of <a href="https://www.humanservices.gov.au/customer/services/centrelink/age-pension">$404 per week</a> are well below <a href="http://acoss.wpengine.com/poverty-2/">the poverty line</a>. Yet we expect retirees to willingly downsize and to be able to cede most of their Centrelink payments to cover high body corporate costs. Requiring retirees to downsize for the greater urban good will shift poverty onto retirees who could barely manage in their previously owned standard suburban home. Failing to understand the effect of high ongoing costs associated with apartment living and reinforcing the myth of zero housing costs in retirement will continue to lead to poor policy outcomes.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/80895/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/erika-altmann-361218">Erika Altmann</a>, Property and Housing Management Researcher, <a href="https://theconversation.com/institutions/university-of-tasmania-888">University of Tasmania</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/downsizing-cost-trap-awaits-retirees-five-reasons-to-be-wary-80895">original article</a>.

Retirement Income

"32 years of safe landings": Pilot's surprise speech reduces passengers to tears

A pilot has brought his passengers to tears with an emotional speech on his final flight after 32 years in the skies. Jeff Fell, an American Airlines pilot, took off from Chicago on his retirement flight as he stood in front of his passengers and delivered a heartfelt message. At first, his message seemed routine, informing travellers of the weather and and flight time, before acknowledging it was strange for him to deliver the address from outside the cockpit. “I normally don’t stand up in front of everybody like this, I usually just stay in the cockpit and talk on the PA. If I get a little emotional please forgive me for that,” he said in the speech, which was captured on video by a passenger. With passengers still unaware of what was to come, he pointed out a group of “very important people” to him sitting at the back of the plane. “They’re the majority of my family who have come along with me on my retirement flight,” Mr Fell said. The plane was filled with applause as the pilot's voice wavered with emotion. “They’re on-board with me on my retirement flight after 32 years with American,” he said. He continued, fighting back tears, “Thank you all for coming along with me tonight and celebrating this very memorable time in my life. I love all of you." With another round of applause from his passengers, Mr Fell added:, “I didn’t want to get emotional but goodness gracious.” “Finally, for my wonderful wife Julie who has been at my side for the majority of my 32 years at American. She has been the rock, the solid rock in the foundation in our lives and our marriage. Her faith in the Lord, wisdom, strength and love has guided our marriage and family throughout these years. I love you and look forward to the next chapter in our lives. And welcome aboard everybody.” The video was uploaded to TikTok and has since gone viral, raking up millions of views, and you can watch the full video <a href="https://www.tiktok.com/@realjharrison/video/7299484162648509738" target="_blank" rel="noopener">here</a>. Thousands of social media users left comments of support, with many confessing the clip had brought them to tears. “As soon as he said retirement flight my tears came,” one person wrote, while another added, "32 years of safe landings also. God bless him and all pilots.” “To think of the amount of families, people, and cultures he has single-handedly connected throughout the world. Thank you!” penned a third person. “32 years of bringing people closer together. I’m crying!” agreed another. Image credits: TikTok

International Travel

Happy ending after company's awful retirement send-off

An elderly gentleman in the United States, who had faithfully served as an "extremely dependable" employee for 42 years, recently experienced a remarkable change in his fortunes, thanks in large part to the generosity of individuals from Australia. John Bartlett, the dedicated worker in question, had received <a href="https://www.oversixty.co.nz/lifestyle/retirement-life/you-deserve-more-company-slammed-over-measly-send-off-party" target="_blank" rel="noopener">underwhelming recognition from an unnamed company</a> for his decades of commitment. His daily 40-minute commute on public transportation to a job paying only the minimum wage went largely unnoticed until recently, causing widespread consternation. Sonia, one of his colleagues, was deeply moved by the perceived injustice and decided to share a video clip of Bartlett's story online. In her post, she expressed her wish that his hard work had been better acknowledged and thanked him for his unwavering loyalty. She noted that Bartlett loved his job so much that he was reluctant to retire, receiving nothing more than a barbecue and a certificate as a token of appreciation. After sharing Bartlett's story on social media, Sonia was inundated with messages from people eager to contribute to his well-deserved retirement. Responding to this outpouring of support, she set up a <a href="https://www.gofundme.com/f/happy-retirement-john#xd_co_f=YjM1NWNiYzAtN2QwYS00MDc2LTgzZWEtNzRiYzE2ZjczZDU2~" target="_blank" rel="noopener">GoFundMe</a> campaign, inviting the public to contribute "a little something for a better retirement" for him. Within a matter of days, the fundraiser received an overwhelming response, with donations and messages pouring in from around the world, including numerous contributions from Australians. The campaign was eventually closed after more than 1,900 individuals contributed, resulting in a total of A$57,454 for Bartlett's retirement fund. In his 70s, Bartlett was left speechless when Sonia shared this incredible news with him. She conveyed the global impact of his story and the messages of support he had received from people across the globe. Overwhelmed by the gesture, Bartlett could only smile and nod in response. “They left messages for you," said Sonia in the video. "So I’m going to print it out and go ahead and make something nice for you so you can read it on your own time. We started the GoFundMe because they wanted to give you something for your retirement on their part and it just blew up overnight. You deserve it, OK? I’m going to make sure everything goes to your account, just for you.” Supporters encouraged Bartlett to use the funds for special treats, like a grand holiday or for spending time with loved ones. Messages from donors expressed their heartfelt wishes for his retirement and new beginnings. Sonia expressed her gratitude to the donors, assuring them that every cent raised would be placed directly into Bartlett's account. In her final update to the GoFundMe account, she thanked donors for their kindness and reaffirmed her commitment to ensuring Bartlett received every penny, attributing the success of the campaign to their collective efforts. In the end, the power of community and compassion won out, as people from all walks of life came together to make a meaningful difference in the life of an individual who had dedicated so much to his job. Images: TikTok

Retirement Life

Kids dressing up as older people is harmless fun, right? No, it’s ageist, whatever Bluey says

<a href="https://theconversation.com/profiles/lisa-mitchell-1143692">Lisa Mitchell</a>, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a> A child once approached me, hunched over, carrying a vacuum cleaner like a walking stick. In a wobbly voice, he asked: "Do you want to play grannies?" The idea came from the children’s TV show Bluey, which <a href="https://www.facebook.com/ABCKidsCommunity/videos/bluey-grannies/468144817266668/">has</a> <a href="https://www.facebook.com/ABCKidsCommunity/videos/new-bluey-episodes-the-grannies-are-back-abc-kids/371436135028190/">episodes</a>, <a href="https://www.bluey.tv/products/grannies-book/">a book</a>, <a href="https://www.discountmags.com/magazine/bluey-september-1-2023-digital">magazine</a> editions and an <a href="https://www.facebook.com/OfficialBlueyTV/videos/grannies-filter-bluey/5728362390510269/">image filter</a> about dressing up as “grannies”. Children are also dressing up as 100-year-olds to mark their first “100 days of school”, an idea <a href="https://www.theage.com.au/national/victoria/old-people-s-home-for-five-year-olds-prep-students-don-senior-citizen-attire-20230801-p5dszb.html">gaining popularity</a> <a href="https://www.smh.com.au/education/cardigans-wigs-and-canes-why-kindy-students-are-dressing-up-as-100-year-olds-20230720-p5dpu8.html">in Australia</a>. Is this all just harmless fun? <h2>How stereotypes take hold</h2> When I look at the older people in my life, or the patients I see as a geriatrician, I cannot imagine how to suck out the individual to formulate a “look”. But Google “older person dress-ups” and you will find <a href="https://www.pinterest.com.au/pin/dress-up-like-youre-100-years-old-100thdayofschool--15199717464361356/">Pinterests</a> and <a href="https://www.wikihow.com/Dress-Up-Like-an-Old-Person#:%7E:text=Dress%20in%20comfortable%2C%20loose%2Dfitting,older%20people%20may%20wear%20include%3A&text=Oversized%20sweatshirts">Wikihow pages</a> doing just that. Waistcoats, walking sticks, glasses and hunched backs are the key. If you’re a “granny”, don’t forget a <a href="https://www.facebook.com/OfficialBlueyTV/videos/games-you-can-play-at-home-grannies-bluey/645964056227345/">shawl and tinned beans</a>. You can buy “old lady” <a href="https://www.spotlightstores.com/party/costumes-and-accessories/costume-accessories/wigs-hair-accessories/wigs/spartys-kids-old-lady-wig-with-curlers/80578132?gclsrc=aw.ds&gclsrc=aw.ds&gclid=Cj0KCQjw0vWnBhC6ARIsAJpJM6emZHoNxO72pUa80Wc8ihYYiq3AohZ_w72jmuWBBDlficdCMy_rsK8aAj47EALw_wcB">wigs</a> or an “old man” <a href="https://www.bigw.com.au/product/facial-hair-set-old-man-3-pieces/p/305026">moustache and bushy eyebrows</a>. This depiction of how older people look and behave is a stereotype. And if dressing up as an older person is an example, such stereotypes are all around us. <h2>What’s the harm?</h2> There is <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/hypa.12170">some debate</a> about whether stereotyping is intrinsically wrong, and if it is, why. But there is plenty of research about the harms of age stereotypes or ageism. That’s harm to current older people and harm to future older people. The World Health Organization <a href="https://www.who.int/health-topics/ageism#tab=tab_1">defines ageism</a> as: "the stereotypes (how we think), prejudice (how we feel) and discrimination (how we act) towards others or ourselves based on age." Ageism <a href="https://www.who.int/health-topics/ageism#tab=tab_1">contributes to</a> social isolation, reduced health and life expectancy and costs economies <a href="https://academic.oup.com/gerontologist/article/60/1/174/5166947">billions of dollars</a> globally. When it comes to health, the impact of negative stereotypes and beliefs about ageing may be even <a href="https://academic.oup.com/gerontologist/article/60/1/174/5166947">more harmful</a> than the discrimination itself. In laboratory studies, older people perform <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4360754/">worse</a> than expected on tasks such as memory or thinking after being shown negative stereotypes about ageing. This may be due to a “<a href="https://www.simplypsychology.org/stereotype-threat.html">stereotype threat</a>”. This is when a person’s performance is impaired because they are worried about confirming a negative stereotype about the group they belong to. In other words, they perform less well because they’re worried about acting “old”. Another theory is “stereotype embodiment”. This is where people absorb negative stereotypes throughout their life and come to believe decline is an inevitable consequence of ageing. This leads to biological, psychological and physiological changes that <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2927354/">create</a> a self-fulfilling prophecy. I have seen this in my clinic with people who do well, until they realise they’re an older person – a birthday, a fall, a revelation when they look in the mirror. Then, they stop going out, stop exercising, stop seeing their friends. Evidence for “stereotype embodiment” comes from studies that show people with more negative views about ageing are more likely to have higher levels of stress hormones (such as cortisol and C-reactive protein) and are <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7182003/">less likely</a> to engage in health behaviours, such as exercising and eating healthy foods. Younger adults with negative views about ageing are <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2666386/">more likely</a> to have a heart attack up to about 40 years later. People with the most negative attitudes towards ageing have a lower life expectancy by as much as <a href="https://pubmed.ncbi.nlm.nih.gov/12150226/">7.5 years</a>. Children are particularly susceptible to absorbing stereotypes, a process <a href="https://psycnet.apa.org/record/2007-09385-010">that starts</a> in early childhood. <h2>Ageism is all around us</h2> <a href="https://www.who.int/health-topics/ageism#tab=tab_1">One in two people</a> have ageist views, so tackling ageism is complicated given it is socially acceptable and normalised. Think of all the birthday cards and jokes about ageing or phrases like “geezer” and “old duck”. Assuming a person (including yourself) is “too old” for something. Older people say it is harder to <a href="https://www.abc.net.au/news/2023-07-06/senior-job-seekers-struggle-to-get-a-foot-in-the-door/102563144">find work</a> and they face discrimination in <a href="https://www.hcnsw.org.au/wp-content/uploads/2021/03/Ageism-in-Health-Care_final.pdf">health care</a>. <h2>How can we reduce ageism?</h2> We can reduce ageism through laws, policies and education. But we can also reduce it via <a href="https://www.who.int/health-topics/ageism#tab=tab_1">intergenerational contact</a>, where older people and younger people come together. This helps break down the segregation that allows stereotypes to fester. Think of the TV series <a href="https://iview.abc.net.au/show/old-people-s-home-for-4-year-olds">Old People’s Home for 4 Year Olds</a> or the follow-up <a href="https://iview.abc.net.au/show/old-people-s-home-for-teenagers">Old People’s Home for Teenagers</a>. More simply, children can hang out with their older relatives, neighbours and friends. We can also challenge a negative view of ageing. What if we allowed kids to imagine their lives as grandparents and 100-year-olds as freely as they view their current selves? What would be the harm in that?<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/212607/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/lisa-mitchell-1143692">Lisa Mitchell</a>, Geriatrician working in clinical practice. PhD Candidate at The University of Melbourne studying ethics and ageism in health care. Affiliate lecturer, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/kids-dressing-up-as-older-people-is-harmless-fun-right-no-its-ageist-whatever-bluey-says-212607">original article</a>.

Retirement Life

“You deserve more”: Company slammed over measly send-off party

A company has been slammed online for their measly attempt to farewell a hard-working employee of 42 years. John Barlett was a dedicated worker for four decades, commuting long distances to work at minimum wage and give his all to his colleagues. After 42 years of hard work, John announced his retirement from the company, prompting a measly farewell party from his place of work. One of John’s longtime co-worker, Sonia, was devastated over the injustice, sharing a short clip to social media of John – now in his 70s – and what she felt was his hard work going unappreciated. “Today is my co-worker’s last day. He worked for this company for 42 years making minimum wage,” Sonia wrote with the video. “The company only threw him a barbecue and gave him a certificate. He takes the bus and Bart (train) to get here every day on time. He’s 70+.” “He loves working here so much he didn’t want to retire. [He got] No bonus, just a barbecue and a certificate. Don’t be a slave to your job. Thank you John for your loyalty.” The video quickly went viral and was flooded with comments of support for John, with one person even suggesting that John start a <a href="https://www.gofundme.com/f/happy-retirement-john" target="_blank" rel="noopener">GoFundMe</a> for people to contribute to his retirement. In the fundraiser, she revealed John could not drive because of a disability, but “rain or shine” would always make it to work. He was “extremely dependable”, Sonia added, revealing it had been difficult to convince him to take a break because he always wanted to work. He was “one of the most talented and hard working” employees at the company and his energy was “unmatched”, she said. “He has no wife or kids, however he does have a nephew whom he loves dearly,” she wrote in the fundraiser. “It would be nice to give him some kind of company or something to do so he knows that he’s special and loved.” In the few days since the GoFundMe was created, it has raised almost $45,000, as many shared their comments of support. One person wrote, “Happy retirement, John. You deserve more than what this company has offered you. Wish you all the best in your life and your future.” Image credits: GoFundMe

Retirement Life

104-year-old woman becomes world's oldest skydiver

A 104-year-old Chicago woman is believed to be the oldest person in the world to tandem skydive, after jumping off a plane from 13,500 feet (4,100 meters) in northern Illinois. On Sunday the 1st of October, Dorothy Hoffner left her walker behind without hesitation and hopped on a Skyvan to set a world record. The 104-year-old could not contain her excitement as she sat on the plane. “Let’s go, let’s go, Geronimo!” she said. Hoffner first started skydiving when she was 100, and initially had to be pushed out of the aircraft, but this time around, things were different. The centenarian insisted on leading the jump while tethered to a U.S. Parachute Association-certified instructor. She was cool and confident as the plane doors opened to reveal the golden crop fields below. Hoffner fearlessly tumbled out of the plane head first and successfully did a forward roll before freefalling from 13,500 feet in the air. The dive lasted seven minutes, including the parachutes slow descent on to the ground. As soon as she landed at Skydive Chicago in Ottawa, just 140 km southwest of Chicago, friends rushed in to share their congratulations. When asked how it felt to be back on land she simply replied with: “Wonderful." “But it was wonderful up there. The whole thing was delightful, wonderful, couldn’t have been better." <iframe title="YouTube video player" src="https://www.youtube.com/embed/rQQyc9kRfio?si=3uj4x5hTPyyU6HrJ" width="560" height="315" frameborder="0" allowfullscreen="allowfullscreen"></iframe> Moments after her touchdown, the centenarian told the cheering crowd: “Age is just a number." The previous Guinness World Record for oldest skydiver was set in May 2022 by 103-year-old Swedish woman Linnéa Ingegärd Larsson. Skydive Chicago is currently working with Guinness World Records to certify Hoffner's jump as a record according to WLS-TV. Hoffner's final message for those who haven't tried it: “Skydiving is a wonderful experience, and it’s nothing to be afraid of. Just do it." Images: ABC 7 Chicago / Skydive Chicago

Retirement Life

7 hacks for retirees to make your money last longer

As Australians continue to live longer, the squeeze is on to make each dollar last longer – and never moreso than in retirement. <a href="https://www.aihw.gov.au/reports/life-expectancy-deaths/deaths-in-australia/contents/life-expectancy">Life expectancies in Australia</a> are now 85.4 years for women and 81.3 years for men. Meanwhile, the <a href="https://www.abs.gov.au/statistics/labour/employment-and-unemployment/retirement-and-retirement-intentions-australia/latest-release">average age at retirement</a> for all retirees is 56.3 years. That’s up to 29.1 years of retirement to be paid for without a salaried income. Thankfully, making money last longer is just possible, with the help of a few tips and tricks. <ol> <li>Embrace seniors’ discounts</li> </ol> It was once said that “it’s better to pay full price than to admit you’re a senior citizen”. Really? Who wouldn’t prefer the extra cash! Being “senior” opens the door to numerous discounts and freebies. If you haven’t already, apply for your eligible concession cards, including the <a href="https://www.servicesaustralia.gov.au/commonwealth-seniors-health-card">Commonwealth Seniors Health Card</a> (for discounted healthcare and prescriptions) and state or territory seniors card (for discounted/free vehicle registration, public transport and other services). Additionally, many businesses offer seniors discounts – insurers, retailers, attractions and more. But they may not advertise these discounts widely, so it pays to ask. <ol start="2"> <li>Maintain a plan</li> </ol> Having a plan and keeping it up to date ensures you don’t overdraw from super, losing the income-generating power of those funds and running out prematurely. I prefer a ‘savings and investment plan’, which sounds nicer and is more comprehensive than a ‘budget’. Incorporate your goals, expenses, assets, and incomes – visibility keeps you disciplined and allows you to act quickly if something is amiss. <ol start="3"> <li>Spend points</li> </ol> Many retirees have held their current credit card, store cards and frequent flyer account for years – decades even. How many points are sitting there unused? These points generally aren’t transferable, so can’t be gifted in your will. It’s use them or lose them! Points can pay for everything from groceries to homewares, travel and even your Christmas shopping – conserving your cash and super. <ol start="4"> <li>Get comfortable</li> </ol> Rightsizing your home sooner rather than later has numerous benefits, such as: <ul> <li><a href="https://www.ato.gov.au/Individuals/Super/Growing-and-keeping-track-of-your-super/How-to-save-more-in-your-super/Downsizer-super-contributions/">downsizer super contributions tax breaks</a> to boost superannuation earnings.</li> <li>paying less for your new home, since property prices generally track upwards whilst investing the extra equity.</li> <li>avoiding complications of moving later in life when your health or mobility may not be as good.</li> <li>avoiding a mistake - using the time to find exactly what you want, where you want, rather than being under pressure and having to spend stamp duty again</li> </ul> Home ownership is also a major determinant of how comfortable your retirement will be. And given the current state of Australia’s rental market, selling your home to move into rented accommodation could prove costly. <ol start="5"> <li>Retain protections</li> </ol> Protections are typically a cost – insurance premiums, legal fees, memberships etc. However, the cost of not having them in place can be far higher. Plus, in the case of insurances, prices and restrictions increase with age – meaning you pay more but get less value for that spend, compared with the more favourable terms of a long-held policy. By all means adjust your protections to suit your current and future needs. But think twice before trying to save a few dollars by discarding insurances or cancelling sports and social memberships that keep you active. <ol start="6"> <li>Update estate planning</li> </ol> Considerable costs (and heartache) inevitably hit a grieving partner and family where someone dies without having their affairs properly in order: <ul> <li>funeral costs and medical bills pile up if funds haven’t been allocated for them.</li> <li>delayed payouts from insurances and super if those details aren’t readily available. </li> <li>loss of economies of scale (living costs per person are cheaper for couples than singles). </li> <li>unexpected taxes, debts, and liabilities.</li> <li>legal conflicts arise where wills are unclear or outdated.</li> <li>a person’s wishes may go overlooked or be challenged where guardianships and power of attorney were not devised.</li> </ul> In extreme cases, the surviving spouse may be forced to sell their home to pay associated costs or because they can’t afford to maintain it alone. <ol start="7"> <li>Seek good advice</li> </ol> Just like a good doctor helps you stay physically and mentally healthy, a good financial adviser helps your finances stay healthy, tactically smart and use strategies to reduce tax which stretches your money further. Be sure their accreditation is up-to-date, and they have experience working with retirees (not just those planning for it during their working years). Often, the cost of this advice pales in comparison to the tax saved and additional income earned through benefits, structures and plans you never even knew about. What’s not to love about that! Helen Baker is a licensed Australian financial adviser and author of the new book, On Your Own Two Feet: The Essential Guide to Financial Independence for all Women (Ventura Press, $32.99). Helen is among the 1% of financial planners who hold a master’s degree in the field. Proceeds from book sales are donated to charities supporting disadvantaged women and children. Find out more at <a href="http://www.onyourowntwofeet.com.au">www.onyourowntwofeet.com.au</a> Image credits: Getty Images

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"Best speech ever": Roger Federer's hilarious address to graduates

Why you should never take nutrition advice from a centenarian

Why it’s still a scientific mystery how some can live past 100 – and how to crack it

Pop legend dies just days after retiring

Five tips to help you start new hobbies in retirement

How do I plan for my retirement? Step one – start right away

World's oldest woman turns 117

Read this before choosing a retirement village

The one thing you must do before retirement

Most expensive countries to retire in revealed

Monty Python star's candid financial admission

How do I handle it if my parent is refusing aged care? 4 things to consider

Boss slammed for demanding "insane" farewell gift contribution

Downsizing cost trap awaits retirees – five reasons to be wary

"32 years of safe landings": Pilot's surprise speech reduces passengers to tears

Happy ending after company's awful retirement send-off

Kids dressing up as older people is harmless fun, right? No, it’s ageist, whatever Bluey says

“You deserve more”: Company slammed over measly send-off party

104-year-old woman becomes world's oldest skydiver

7 hacks for retirees to make your money last longer

News

Shop

Catalogues

Travel

Health

Lifestyle

Finance

Entertainment

Property

Information

Keep up to date

Search

"Best speech ever": Roger Federer's hilarious address to graduates

Why you should never take nutrition advice from a centenarian

Why it’s still a scientific mystery how some can live past 100 – and how to crack it

Pop legend dies just days after retiring

Five tips to help you start new hobbies in retirement

How do I plan for my retirement? Step one – start right away

World's oldest woman turns 117

Read this before choosing a retirement village

The one thing you must do before retirement

Most expensive countries to retire in revealed

Monty Python star's candid financial admission

How do I handle it if my parent is refusing aged care? 4 things to consider

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