30. March 2010 by Teresa.

    Earlier this month, Science Daily reported that having a greater purpose in life was associated with a reduced risk of Alzheimer’s Disease, according to a report in the March issue of Archives of General Psychiatry (an American Medical Association journal). The biological basis for the association was said to be unknown. However, the report noted that it may result from the positive effects purpose of life is reported to have on immune function and blood vessel health.

This aligns with a study performed earlier last year at Rush University Medical Center, which concluded that having a higher purpose in life reduces risk of death among older adults (Science Daily, June 2009) - regardless of age, gender, education and race. The finding held even once the researchers controlled for depressive symptoms, disability, neuroticism, number of medical conditions, and income.

“Purpose in life” was defined by the researchers in both studies as “the psychological tendency to derive meaning from life’s experiences and to possess a sense of intentionality and goal directedness that guides behavior.” In other words, those that had a reason to get out of bed in the morning, stayed healthier. The trick of course, is finding just those things that will offer peace, comfort, a sense of utility, a connection with others, and a sense of doing something very necessary and worthwhile (Johnson, 2001).

Richard Johnson in his book The New Retirement and Thomas More in Care of the Soul remind us that without life meaning we lose our way in life; that those who suffer from meaning deprivation starve their souls. Busyness is only a trivial diversion from a clearly identified purpose; it is a popcorn and cotton candy diet for a body that needs its fruits and vegetables.

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25. March 2010 by Teresa.

    It’s no secret that states like New Jersey and New York have high taxes - whether you consider property taxes, income taxes, sales taxes, or estate taxes, these states rank highest in the nation. This has worked well for someone in the relocation business. Many individuals, particularly those nearing retirement, are no longer willing or able to absorb these high costs. As a result, individuals look to move to states with a lower tax burden, such as Delaware, North Carolina, Tennessee, Florida or Nevada.

The Wall Street Journal recently ran an article examining how “Cash-Starved States Put Tax Scofflaws in Crosshairs.” The recession has caused a sharp drop in total state revenue, requiring some states to get creative or to turn to third-party firms in order to get tax-cheats to pay up. An interesting center-page graphic, however, noted how some other states turned to a more traditional method of refilling state coffers … raising taxes.

The same states that northerners have been flocking to for tax relief (i.e, Delaware, North Carolina and Florida) are some of the ones  that have raised their taxes more than five percent over the last year. Personal income taxes and sales taxes, the two largest sources of state tax revenue, experienced the greatest changes.

According to a Center on Budget and Policy Priorities report, Delaware enacted one of the largest personal income tax increases, as a share of total tax revenues, of all states in 2009. The same report stated that North Carolina was one of the states with the largest sales tax increases as a share of tax revenue. This state raised its sales tax rate by more than one percent (although temporary) and expanded its sales tax base to include things like digital downloads and internet transactions.

Now the good news for these destinations states is that New York and New Jersey have taken similar actions. So residents will still be looking elsewhere for tax relief. However, potential transferees need to head the advice from their Introduction to Economics class … “Caveat emptor” or “Consumer beware.” While the tax situation in many sunny, coastal states looks better than that in the chilly north, it may not stay that way. Consumers need to proceed with caution into lands that are reeling from over development and broken economic dreams.

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20. March 2010 by Teresa.

    Where to live is a difficult decision at any stage of life. But in retirement, that decision is as central to happiness and success as finances.

During our ‘prime earning years’ or ‘family-raising years,’ we are inclined to move for work. The emotional, psychological and financial implications of moving are balanced by the earnings potential of our new job. We may not love our new location, but we accept it and tolerate it. We learn our way around, search out new service providers, and find fun things to do with family and friends. Yet, something is still amiss. You’re not fully engaged, not truly excited by your surroundings.

What are those things that fill you with awe and wonder? Is it the smell of ocean air rising up over the grassy dunes while you drink your morning coffee? Is it the decadent taste of silky chocolate from the local baker melting in your mouth? Is it the chance to emerge from a hiking trail long tucked in a pine forest to the sight of high peaks spread before you? Is it the sound of your grandchildren laughing as they race around the kitchen wearing the newspaper hats that you just made for them?

Whatever your answers, they should drive your retirement relocation decisions. Retirement is stressful, a time of immense change and questionable personal meaning that can result in depression. Moving is also stressful (ranking just behind death of a spouse and divorce) and expensive (totaling upwards of $30,000 for some whole house moves). A good match between retirement dreams and desires and community amenities can reduce the stress of both situations.

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18. March 2010 by Teresa.

    Last week, CNNMoney.com reported that 43% of American workers have less than $10,000 in savings (according to the Retirement Confidence Survey by the Employee Benefit Research Institute) and almost 30% said they have less than $1,000 in savings. This could certainly explain why the number of workers believing that they will be able to save enough for a comfortable retirement hovered at the second lowest point in the 20 year history of the survey.

So what are we as workers to do? Well, the obvious answer is to save more. But in this economic climate, we seem either unable or unwilling to do a thing like that.  This means that we are going to be facing some tough choices when we approach retirement. Will we continue working (postpone retirement) in order to shore up our diminished reserves? If so, will we stay in the same job that we had been doing or look for something else? If we look for an alternative career, how do we decide what that will be?

This is where a retirement coach or a career coach can help. These type of professionals can guide us through the non-financial planning aspects of retirement. To answer the question “What do I want to be when I grow up,” you need to gain a sense of your skills, values and interests. To match your personal assets to your aspirations, you also need to understand what career opportunities are available in the market place and what education or training is required.

Such questions need to be asked in our 30s or 40s, not just in our 50s when the retirement horizon is looming before us. The sooner we give thought to the non-financial aspects of retirement,  maybe - just maybe - the sooner we will actually see the purpose for setting aside some of today’s money for tomorrow’s dreams.

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11. March 2010 by Teresa.

    The goal at Orella Moves is to ensure that clients can live well at any age in any location. Orella Moves offers relocation and planning services to adults in transition - those facing layoff, retirement or a life change - who are wondering where to live or what to do next. Orella Moves blends personal interests with practical solutions to help clients save their mind, their money, and their marriage.

Follow our blog to read more about issues related to planning for retirement, surviving life transitions, and overcoming family conflict. Visit our website at www.orellamoves.com for more information about our company.

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