These are your top 3 financial goals for 2020 – Start working now

These are your top 3 financial goals for 2020 – Start working now

The year 2020 has begun. 2019 is past now. This means 90% of Americans have started listing their financial goals to manage money like a pro. After all, money is everything. It can give people what they cherish and desire.

In this post, we will discuss the top 3 financial goals of Americans in 2020 and what can be done to achieve them.

Top 3 financial goals for 2020 – Tips to achieve them

Here are the top financial goals for Americans in 2020 and a few tips to achieve them.

  1. Save dollars for better financial stability: This is an important financial goal for many reasons. If you don’t have enough money in your savings account, then it will be difficult for you to cover living expenses and emergency expenses.

    Recession is expected to hit in 2020. So this year is expected to be full of financial uncertainties. Anything can happen this year. Some people may lose their jobs. Some people may not get a pay hike even after giving their best performance. Some people may not get a job for a long long time. This is why saving money is the number 1 financial goal of Americans.

    An emergency fund is the need of the hour. It can help people survive difficult times. According to financial experts, people should build a fat financial cushion for 2020. It should have enough money to cover 3-6 months of expenses.

    Tips to build an emergency fund in 2020

    (i) Set aside 10% of your paycheck for building your emergency fund

    (ii) Set up a budget to reduce your unnecessary expenses and trigger savings

    (iii) Lead a frugal life to reduce the wastage of money and generate savings
    See also: 12 Amazing tips to live a frugal life as a single

  2. Clear your debts to reduce financial stress: There are 2 types of debts – good and bad . A few examples of good debts are mortgage and student loans. Credit card debts and payday loans are bad debts. Now, it takes time to pay off home loans and student loans. But the same thing can’t be said about credit card debts and payday loans. These are bad debts and have extremely high-interest rates. This is why the second most important financial goal of the Americans is to get rid of debts.

    Tips to pay off your debts

    (i) Set up a budget and reduce your expenses to generate extra cash. Use this money to pay off credit card debts.

    (ii) Set up an effective debt payoff plan to eliminate your debts one by one. Know how to consolidate debts in the most effective way.

    (iii) Increase your income to have extra money for repaying your debts.

  3. Get yourself a second job to increase income: Since recession will hit the country in 2020, so it’s assumed that the job market will be dicey. It’s best to look for a second job before the recession hits the country. If you’re a web developer, then you can do freelancing. You can develop and design websites for various clients on weekdays and weekends to make extra money. Even if you don’t get a pay hike in 2020, then also you won’t suffer financially in this year.

Conclusion

Saving dollars, clearing your debts, and increasing your income are the 3 most popular financial goals of the Americans. If your retirement savings account needs a boost, then it would be best to add it to your list of financial resolutions as well.

4 Financial mistakes that can drop you in a debt pool

4 Financial mistakes that can drop you in a debt pool

Debt is unavoidable in our country. If you want to buy a home, you have to take out a home loan. If you want to pursue higher studies, then you have to take out a student loan. And, if you have to buy a car, then you have to opt for an auto loan.

Barring auto loans, both student loans and mortgage are good debts because they help you to attain a job and a roof above your head. The fair market value of a car depreciates with time. So, an auto loan is considered as a bad debt.

Other than auto loans, credit cards are also considered as bad debts as these are mostly unplanned debts. Usually, people use credit cards to fulfill their various wants and desires. But we humans are greedy. We have too many wants and desires. So we end up using credit cards for fulfilling our desires, one after one, and increase our financial liabilities. There is yet another instance when we use credit cards, and that is during emergencies. This can be fatal if the bill is of a huge amount. Recently, a friend of mine had to spend $7k for renovating his home. A portion of his home got damaged due to the onslaughts of natural calamity.

Unplanned debts and bad debts make our overburdened life stressful. We lose mental peace, sleep, and sanity. Most of us wouldn’t want to face that.

Here are a few financial mistakes that get you into debt. Avoid these mistakes by all possible means if you wish to avoid getting bankrupt.

 

1. Not having a personal budget:

The plus side of having a personal budget is that you can keep your finances under control. You can avoid debts since a budget works on the principle of spending less than what you earn. The negative side of following a personal budget is that you have to be under control when it comes to spending money, which is good actually.

Not having a personal budget is a big financial mistake. It could drop you in a debt pool anytime due to unplanned expenses. So if you don’t have a personal budget, then create one as soon as possible.

Just keep in mind a few basic points before creating a budget:

  1. The budget is reasonable. It’s not too tight nor too relaxed.
  2. The budget takes both your income and expenses into account.
  3. The budget includes both necessary and unnecessary expenses.
  4. You have to spend less than what you earn.
  5. You have to follow the budget every month.
  6. You have to modify your budget plan when your situation changes.
  7. You have to make tough financial decisions. For instance, you may have to stop dining out and eat home-cooked meals.

If you need help, then download a budgeting application to track your expenses.

2. Not buying an insurance policy:

Insurance premiums are quite expensive. There is no doubt about that. But they can help you save thousands in the long run. Not having an insurance policy is not good for your financial health, and it can drain your bank accounts. A serious medical issue is enough to empty your savings account. Even an emergency fund won’t help to cover your medical bills.

Analyze your family’s financial needs and buy adequate insurance policies. Speak to an insurance agent to know how you can get your family covered.

Financial experts say that it’s best to buy insurance policies when you’re young. This is because insurers charge small premiums on young people.

3. Using credit cards recklessly:

Credit cards can give you everything. They can give you beautiful clothes, the latest smartphones, stylish accessories, and so on. But they also give you the worst form of debt. The interest rates on credit cards can go above 30%, and that can increase your outstanding balance rapidly. Too much use of credit cards can also swell your credit utilization ratio, and that can pull down your credit score.

It’s not bad to use credit cards as long as you earn rewards. But make sure you track how much you’re charging on your credit cards. Try to keep your credit-utilization ratio within 30% and pay what you spend every month.

If you’re already in credit card debt, then use the extra cash to repay your bills. If you don’t have extra cash, then use a few debt repayment strategies like credit card debt settlement and credit card debt consolidation to attain financial freedom. Read: How to consolidate debts in the most effective way

4. Not having a fat financial cushion:

An emergency fund acts as a savior during troubled times. It helps you to tackle medical emergencies and unemployment smartly. Without an emergency fund, you’ll be in soup and it will be tough to survive without credit cards.

Undoubtedly, credit cards will help you get over the temporary financial crisis but that would push you towards bigger problems in the long run.

Create an emergency fund if you don’t have one. Set aside a certain amount from your paycheck every month and keep it in your savings account. Build your emergency fund gradually until you meet your financial goals. Once your emergency fund is exhausted, make it a point to rebuild it.

Analyze how much you have saved in your emergency fund once a year. Increase your emergency fund when you get a pay hike or you get hitched.

Final words

Your financial life is in your hands. Your financial moves will determine how your life will be. Try to avoid making costly money mistakes if you wish to live in a rock-solid financial house with a calm mind.

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12 Amazing tips to live a frugal life as a single

12 Amazing tips to live a frugal life as a single

You might have a concept in your mind that frugal living is merely using your old stuff again and again, and skipping dinner outside. Some people also think that the best way to live frugally is to save money and eat only veggies.

Living a frugal life as a single person means applying different frugal options to manage your finances and incorporating more frugality into your life.

If you have difficulties to find multiple options to become frugal, you can find some frugal tips below. These will help you achieve your money goals easier than you think.

#How to become a frugal person without being cheap

Being frugal isn’t similar to being cheap, though they often are used interchangeably.
A frugal person would always research and compare the price before buying any object so that he or she will get the best price along with the best quality. If you choose the best quality goods, it may cost you higher initially. But it will give you the service for a longer time, compared to other low-quality goods. This is the main finding of frugal living.

On the other hand, a cheap person does not spend so much time on research and would buy the goods that have the cheapest price. Eventually, he or she will spend extra money on that thing, as it won’t last long. So, technically being a cheap person is costlier than being a frugal guy.

The best frugal living tips for singles

1. Create a budget as per your lifestyle

These frugal living tips are meant for single people who want to manage their finances alone. Without a solid budget, you can’t live frugally.

Your budget is a tool to get what you want and within limited resources.
You may use the method of backward budgeting where you need to focus on keeping the expenses low. This way you can save more.

Apart from that, you may also use the zero-sum budgeting method, and one of the most popular, the 50/20/30 budgeting method. It may give you the option to invest a percentage of your income for a better return in the future. .

You should also allocate money for your entertainment purpose in your monthly budget.

2. Increase your monthly debt payments

Paying off your debts quickly is one of the best ways to save money from the interest payable on your outstanding dues. This way you can live more frugally by reducing the amount of interest payable every month.

Being a frugal guy you should build up a few good habits! And spending less is one of them. You can start increasing the monthly debt payment amount and save on your interest payments.

Slowly increase your payments, do not add up a big amount. It may hamper your monthly budget. REmember you are the only one who is earning here, so you only have to pay all those bills on time. To it’s better not to play rough initially. This way you can save more from living a frugal life as a single.

3. Increase your income by working extra

If you want to increase your saving, try to increase the overall income. If you earn extra money it’s better that you should save it for emergencies.
Earning extra can help you save more every month. Getting some extra money helps to cover your savings account and removes the pressure when you are facing a monetary crisis. If you are experiencing a financially tough time, frugal living can guide you to handle that situation.. Having a side hustle can be helpful to save more.

You may boost your income by doing side hustles, on the weekends, such as working in a pizza joint or in a bar.

If you’re willing to put some of your intellect on the table, starting online blogs or doing freelance writing can be a way to earn more. The possibilities are endless; you just have to pick the right one!

4. Stop incurring further debts if possible

One of the best tips for frugal living is to avoid debt at any cost. For that, you need to control your spending, maintain a good emergency fund, and use your credit cards wisely.

At present, people mostly suffer from credit card debts and high-interest payday loans. So, why don’t you limit your credit card usage and pay bills on time? This way you can stop more credit card debts to build up. Also, try to avoid payday loans as much as possible.

5. Contribute more into the emergency fund

Do you have enough savings to cover any kind of unexpected expenses? Did you calculate how much you need to pay as repair of your old car? Do you have any idea how to pay the mechanical repair cost of your garage door?

In most cases, the answer would be a big “NO”.

So, you need an emergency fund to pay for sudden costs and avoid debt.

To build a decent-sized emergency fund you may start with a $1000 deposit. You can increase your deposit amount at any time. Try to save an amount in this fund every month.

Save money to meet emergency expenses if there is any situation. Make sure you save 30% to 35% of your income for emergencies.

6. Downsize your existing home

If you live in a house that is too big for you, and you are also paying a lot of rent, it is the best time to move into a cheaper, small home.

You’ll get two benefits after implementing this step. First, you can save money on rent. Secondly, it’ll take less time to clean your house as compared to the previous one.

7. Use cold water for washing

Washing your clothes in cold water can save your power bill to some extent. Apart from that, it’ll make your clothes last longer. This is because cold water does not harm the coloring and also preserves the fine thread material.
Try to wash your clothes at home. This way you may save from the laundry cost, keeping your favorite clothes as good as new.

8. Decluttering your possessions

If you want you can sell off your unused possessions before going into a vacation. This way you can get rid of unused stuff, restore a decent amount of space in your room, and also retrieve a decent amount from your old stuff.

Even if you’re not going anywhere soon, decluttering your possessions is a good idea for a frugal living single person. It can save you a lot of money.

9. Prepare a meal plan

If you want to save money on food costs as well as want to save preparation time, then you must prepare a meal plan for at least a week.

Planning your meal helps you to stop buying food items that you don’t need. The less you store food items at home, the more room you can get in your refrigerator. It’ll also make you use the previously stored veggies and other foodstuffs.

Meal planning is a must for living a frugal life as a single person. Your grocery bill is the ideal area where you can cut some slices without any hassle and make some savings.

10. Replace expensive brand with the store brand

Wherever you go shopping, make sure you pick local store brands instead of buying expensive brand goods. This is a simple frugal tip that you can use while buying cheaper brands as per your requirements.

You might get a good discount on the store brand compared to other expensive brands.

11. Buy used items instead of new ones

Whatever you buy, try to buy from the second-hand stores before hitting directly to the authorized shops.

If that’s not possible for you, then you can search for online forums and blogs to buy used products.

Buying used things can be better for nature; it reduces waste.

12. Try to buy in bulk

Buying goods in bulk is sometimes cheaper. First, you need to do some calculations, then start buying.

Most of the time you should buy things like flour, sugar, milk, toilet paper, and other groceries in bulk as they will be available with good discounts.
You can hit the local stores or you can search online.

Conclusion

There are millions of frugal living tips for a single person available on the internet. It is up to you, do some math, and implement it accordingly.

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The retirement benefits after divorce my spouse may get

The retirement benefits after divorce my spouse may get

If you have some serious marital illness that you think can never be cured and it keeps creating regular issues between you and your spouse, then you might opt for a drastic solution. You may file for a divorce and put an end to your relationship. This way might be both of you can live a happy peaceful life ahead.

But while getting a divorce, you should always check whether or not your spouse has a claim on any of your retirement benefits after divorce. This is an important issue and couples who are in long marriages or individuals who have limited working years should look into this matter.

Here we will elaborate on the retirement benefits for divorced spouse.
But first, we need a glance at the different retirement benefits.

Categories of retirement benefits for divorced spouse
Normally you can divide the benefits into 3 categories:

  1. Retirement savings plans
  2. Social Security benefits
  3. Military pensions (Commonwealth of Virginia)

Now, let’s put some light on the impact of divorce on your retirement benefits.

Why are retirement plans divided in a divorce?

Retirement benefits for divorced spouse should be considered as a part of the marital estate. So, at the time of filing the divorce, the benefits should also be equitably divided. The thing must be noted that “Equitable” does not mean “equal.” Each spouse should get a fair share after considering several factors.

Retirement benefits aren’t a separate property of your spouse. So, determining how to split retirement assets can be one of the most difficult aspects of divorce.

Dividing retirement benefits after divorce

When you and your spouse want to divide the assets in your retirement plans, such as IRAs and other qualified plans, you must apply a separate legal term to all types of division.
You should divide IRAs using the “transfer incident to divorce.”
On the other hand, 403(b) and other qualified plans, such as a 401(k) should be divided under the “Qualified Domestic Relations Order” (QDRO).

State laws may differ and may consider both of this division as one and labeled as QDROs. In both cases, you and your spouse should choose (as discussed) the category where each of your retirement assets would be considered. When you submit your information to the judge or mediator to verify, the categories should be added correctly in the divorce or separation agreement.

In a QDRO, both parties in a divorce can avoid tax liabilities and penalties if there is any withdrawal or capital gains associated with retirement funds distribution. These transfers, while the spouses are filing a divorce, are non-taxable events.

A Qualified Domestic Relations Order (pronounced “quad row”) or QDRO is a court order, judgment, or decree associated with the child support, alimony, or property rights. It will decide whether or not you are eligible to the retirement assets. Don’t be overconfident that your rights upon the retirement assets will be allowed by QDRO, like your divorce agreement.

QDROs only apply to plans which are IRS tax-qualified. It is also covered by the Employee Retirement Income Security Act (known as ERISA). These do not apply to military or government pensions. Spouses do require a QDRO to divide IRA or SEP assets.

The U.S. Department of Labor has promoted a helpful booklet about Qualified Domestic Relations Orders called The Division of Retirement Benefits Through Qualified Domestic Relations Orders.

Social security and divorce:

After the divorce, your ex-spouse might get Social Security benefits considering the income record of your ex-spouse. Of course, he or she has to meet certain requirements. Initially, both of you must get either Social Security retirement or disability benefits. That means your ex-spouse with an income record must be 62 years old and must reach full retirement age to get the benefits.

Your ex-spouse looking for the benefit, have to show that he or she has

  1. completed 10 years or longer in marriage,
  2. He or she is currently unmarried
  3. The proper income record to get the benefits. The limit of your income should be less than the amount of benefits he or she will receive.

Once a spouse remarries, they will no longer be eligible to collect on their divorced spouse’s social security benefits.

Military pensions

A pension earned during a marriage is generally considered to be a joint asset of both spouses. However, it is up to the state divorce courts to decide whether and how pension assets will be divided. Federal law allows state courts to treat disposable retired military pension as property divisible in divorce.

As per the rules and regulations of the Department of Defense (DOD), a portion of a military member’s retired pay will be given to the ex-spouse, if he or she meets the following guidelines:

  1. The former-spouse should have been married to the military member for a certain period, at least for 10 years.
  2. Direct payments aren’t allowed. The division of retired pay shouldn’t be more than 50% in any case.
  3. Disability pay will not be treated as property in a divorce. However, it will be considered as garnishment for alimony or child support.
  4. Alimony or child support can be paid straight in addition to the division of retired pay. DOD Finance won’t allow over 65% of your disposable retired pay for property division and alimony/child support.

If the criteria above are not met as per DOD, the retired member might get an order from the Court to pay off the military pension allotted to the ex-spouse.

Conclusion

Practically, retirement benefits for divorced spouse and their fair distribution among the spouses always make your divorce process complicated and increase the cost of legal fees. If required, you may hire a professional attorney who can understand your points while dealing your divorce case and guide you as per the law. Your attorney should give you proper suggestions to get things what is yours.

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How to achieve financial freedom before 50

How to achieve financial freedom before 50

It might be quite depressing for you when you are turning into the 40s.

You might have experienced the same situation when you reached your 40’s. But the situation was better than today. Then, you may wonder what has happened with you today when you reach 50’s?

A sense of discomfort and hesitation will cover your mind. You might feel that so many things have been left behind unattended. Some things may also remain undone. It must be due to the midlife crisis that comes with age.

So, before turning into 50 something, you should set up a few life goals and try to complete them asap. Setting up a target in your life is always fun for everyone. You can see yourself growing and it gives you some inner strength to carry on.

So, what are you waiting for? Roll up your sleeves and prepare the list of financial goals before 50.

1. No debt at all

Debt is dangerous for your finances. If you have debts (especially unsecured ones), it’ll be tough for you to save and invest money. Unfortunately, most of us have unsecured debts more than secured ones. You must take full control over your money so that you can pay off most of the big debts such as student loans or mortgage by the time you turn 50. Make sure you don’t have any other consumer debt.

    Check out the list of bad debts:

  • Credit card debts
  • Payday loans
  • Medical debts
  • Store credit card bills
  • Utility bills
  • Personal loans
  • Student loan debts

If you have any of these debt issues, you should try to get out of the situation as soon as possible.
You can’t consider a home mortgage as a bad debt. But it is also a big consumer debt. So, you should pay it through on-time monthly payments. Do not try to pay it off if it has a prepayment penalty.

2. Control your spending

Your kids might have gone out of school and staying away from home. So, you’ll have some spare time and more money in your pocket now. But be very careful, it is quite tempting to spend it over numerous things that you don’t need right now.

I am not telling you to start living a frugal life. Have fun but do not spoil your retirement goals. If you earn well at your 50s, that’s a good sign. It is high time to double your savings so that you can manage your expenses in retirement without any hassle.

Also, you may need to think about how you’ll rectify your spending habits so that you can reach your financial goals before 50.

3. Retirement planning

You might have spent half of your working life when you reach 45. You are just 21 years away from your retirement. So, set a concrete goal for your retirement savings. There is still time to save for retirement.

It is not possible to work until you die. You can’t ignore your health and other factors that’ll create issues with your work life. Apart from that, employers normally prefer young and cheaper employees as they are considered much more efficient and skillful.

To retire like a pro, you should start saving and investing from the very beginning of your career. Do not stop until you achieve financial independence. It’ll be amazing when you max out your 401k contributions every year till you retire.

4. Maintain health and hygiene

This is one of the most difficult life goals before 50. People reaching the age of 50 normally avoid healthy habits and exercises. But some have it together and are living a healthy lifestyle.

Stop overeating; it is one of the most common reasons that make us unhealthy.

If you want to lose weight and become healthy, you should prepare a solid meal plan. A proper diet enriched with protein, minerals, vitamins, calcium, and other essentials, can make your body and mind healthy and strong.

    Quickly check out this list:

  • Check your weight regularly and maintain it.
  • Avoid junk food, soda, sugar, and high-fat diet.
  • Eat a lot of fruits and vegetables throughout the week.
  • Avoid drinking and smoking.
  • Spend at least 30 mins every day for exercise. If possible, do cardio exercises every day.
  • Sleep at least 8 hours a day.
  • Minimize tea and coffee intake.
  • Do a regular health check

I know it is not easy to maintain such things all the time. But you must maintain such habits to maintain good health and hygiene.

5. Update your will

About 55% of Americans ignore to have a will or other estate plan to organize their assets. If you don’t have one, a probate court will decide how to distribute your assets. A will is required if you have an heir for your assets. You and your spouse should have a separate will.

You must decide what will happen with your assets and liabilities after your death. You can appoint an executor to follow your directions and execute the will. You may update your will at any time you want.

6. Review and adjust insurance coverage

You should review and update insurance coverage from time to time. Try to opt for cheaper term insurance. These are low-fee index funds, a cheaper way to save for your retirement.

You may also go for disability insurance and full life insurance to cover your family and yourself.

If possible, check your home and auto insurance limits, too. You may consult a professional insurance broker who can review the needs of your health insurance, and suggest a proper option.

7. Maintain stability in family life

It will be easier to complete your life goals before 50 if you have a supportive spouse alongside. Even your kids can play a great role in helping you to complete life goals.
If you’re single with no kids, then you can also retire early if you like.

8. Build a solid emergency fund

Building an emergency fund can take away a lot of stress as you will always have a decent reserve to fight against money crisis such as a job loss or a large medical expense. An emergency fund is a strong money management tool which provides you with money to fulfill other life goals too.

Endnotes

These are the top life goals before 50, as per my point of view. Whatever you do, make sure you do it with full confidence.

If you can suggest some more important life goals, please provide suggestions in the below-given comment section.

Posted in how
How to transform your life being a 50+ woman

How to transform your life being a 50+ woman

The race for a good financial future starts from the time you are a teenager. Within 35-40 years you need to get high education, a decent job with a good income, and start saving for your retirement. During this period, you may have to make multiple decisions that might have a great impact on your future. There are possibilities that some of your moves are great while some are wrong.

But, by accepting the outcome of your earlier decisions, you can make some adjustments and find a purpose in life even after 50.

Think about your future and imagine what your life would be after 50? Can you create a better life after 50s’?

Simple, how about following the lines below!!!

1. Welcome your age

Don’t fight aging. You might be thinking that remaining young is the ultimate way to become happy. There’s a myth that older age will make you useless or lazy. But this is a wrong concept. Like other living things humans will also age, but it is up to you to keep yourself together. Treat yourself with respect and take care of your physical and mental health. Have patience. Remember, our body gets old, but our mind isn’t.

2. Keep connecting with others

In your fifties, whether you are working or retired, you should keep a healthy connection with other people. You need to go out and meet new faces.

Arrange community parties and celebrate federal holidays with your friends and neighbors. Don’t be a couch potato; get up and spend time with people. You can get in touch with multiple people through Facebook, Twitter, LinkedIn, and other social media platforms. You may even call them and meet face-to-face if you want to. This is one of the easiest ways of finding a purpose in life after 50.

3. Indulge with your curiosities

If you are in your 50s, it means your children are quite old, and doesn’t need so much attention. So, this is the best time to find yourself more free time. You must spend time for searching for new activities that can keep you happy and joyful. You can go for a holiday and visit unknown places. You may try different cuisines from famous restaurants in your city. If you are an art lover, try visiting art galleries or watch plays in your spare time. Let your curiosities fly and reach new boundaries.

4. Engage yourself in various activities

Do you have long-forgotten hobbies? Many of us do!

Try to remember the old days and start enjoying your hobbies once again. Hobbies such as gardening, painting, dancing, or collecting coins, stamps, comics can give you a lot of fun and option to spend your idle time. If you want to read new books, find them online. You’ll get a free ebook for most of the old cult classic novels and short stories. This way you can save money on expensive books and invest that money in pursuing other hobbies.

If you are a fitness freak, then you may try Yoga. I would rather suggest you not to join a gym; it’ll not only increase your monthly expenses but can also affect your health negatively.

You may start aerobics or other cardio-exercises again, preferably in the morning. You might not know that doing regular cardiovascular exercises can improve your overall physical and mental health. Even a brisk walking session in the morning (sometimes in the evening) can energize your entire body. A hands-free workout can help you to reduce extra fat and eradicate toxins from your body.

5. Build a personal board of advisors

Life after 50 is filled with challenges and confusions. You might be looking for a new job option, find a new partner, or want to buy a new house. But while doing so, you may need suggestions and trusted opinion from your dear ones. It is good to have experienced people to review your life’s bigger decisions. So, give an invitation to some of your nonjudgmental friends who will encourage and guide you to make important decisions in your life, especially after 50.

6. Increase your education level

Join classes after 50? Are you nuts?

Many women may also be thinking the same. But trust me, joining classes in a subject that interests you most may open new job possibilities for you. Try to learn new things, gather information, and keep yourself updated. It’ll help you to keep yourself prepared for matching up with the young generation.

7. Strengthen your bones

After the age of 50, women normally suffer from a disease called osteoporosis. The term Osteoporosis means “porous bone”. It occurs when the body loses too much bone or makes too little bone, or both. As a result, bones become weak and may break from a fall or even from sneezing or minor bumps.

The disease may transform your life negatively after you become 50 something. Deficiency of calcium and vitamin D is the core reason for such a disease.

As per Wikipedia – “Bone loss increases after menopause due to lower levels of estrogen. Osteoporosis may also occur due to a number of diseases or treatments, including alcoholism, anorexia, hyperthyroidism, kidney disease, and surgical removal of the ovaries. Certain medications increase the rate of bone loss, including some antiseizure medications, chemotherapy, proton pump inhibitors, selective serotonin reuptake inhibitors, and glucocorticosteroids. Smoking too little exercise are also risk factors.”

So, you must take care of your body, especially your bones. Healthy food, enough sleep, and exercise can make your body toned and strong. Following this method may help you to transform your life after 50 positively.

8. Avoid smoking and drinking

It is one of the most common and effective steps to make yourself healthy when you are at your 50s. Smoking is the biggest cause of lung cancer, as per the American Lung Association. So, you must quit smoking from this moment if you’re over 50. Smoking causes serious damage to our body, especially to women. I also believe not only 50+ women but also people belongs to every age group should say “NO” to smoking from now on before it’s too late.

Similarly, drinking too much is also bad for your health. After 50s your liver can’t take it like before. So, if you need to have a drink, try to have it occasionally.

9. Make sexual life healthier

50+ women are not immune to various sexually transmitted diseases. I personally know a few 50+ ladies who believe that menopause is a sexually transmitted disease and very harmful for the health. But this concept is wrong. They are as much vulnerable as an 18-year-old lady. So, you need to stay cautious, always go for safe sex, use condoms, and other precautions. Make sure you verify that your partner is healthy and hygienically fit.

You should discuss the risk factors of a sexual life with your doctor and also with your partner. You might be in a causal relationship and planning to go beyond that. So, before going into a serious relationship, you must verify whether or not your partner is ready to support your thoughts about a safe sexual life.

10. Control your spending and save more

You are a few years away from getting retired, isn’t it? Of course, 10-15 years is quite a good time to save money, but it won’t happen if you do not start it from today. For transforming your life after 50 into an enjoyable journey, you should start saving more than yesterday. The more you can save today, the less stressful and anxious you’ll be tomorrow. If you are getting confused and don’t know where to start, you may anytime get advice from the top money professionals from the market and choose the right track.

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