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September 29, 2008 will go down in the history books as the first time the Dow Jones Industrial average dropped 777 points in one day. While not the highest daily percentage drop (that occurred on Black Monday, October 19, 1087 when the Dow fell 23%) it was certainly significant in light of the financial turmoil the United States and the world in general is experiencing.
I suppose numerologists could have a great time with this as triple 7’s are usually represented as lucky number especially in simplified slot machines in gambling establishments. From what I have read, holding 3 sevens in a game of Black Jack almost ensures a win since they add up to 21. The number 7 in scripture is often referred to God’s perfect number, the number of completion. I would also suspect that most of us would conclude there is no numerical significance to the events of that day.
Rocking Chair Wisdom doesn’t begin to represent itself as knowledgeable in the area of economics to easily understand everything that is happening in the financial arena, let alone to try to explain it to someone else. Like many other Americans, and from what we’ve read many economists, RCW doesn’t know the real answer.
For most of us in the “retired” community, we are just as concerned as those in the “non-retired” community about trying to maintain our current standard of living. Many retirees have taken jobs to supplement their retirement income and others have started their own businesses.
With credit markets becoming tighter, it may be more difficult for retirees to secure loans to grow their business or obtain favorable financing when purchasing vehicles or other durable goods.
As values in retirement funds decrease, at least short term, the ability to withdraw the necessary funds to satisfy your retirement dreams may be compromised.
Watching the news reports on American television could give one a false sense of the severity of the current financial problem. However, this crisis reaches beyond our shores and becomes a global problem. Financial institutions in other parts of the world are failing or are being propped up, bailed out, or rescued by their governments as well.
Dave Ramsey is a nationally syndicated talk show host, and many thousands of people have followed his advice and followed a path to recovery from debt. Now he has provided some advice for our nation’s leaders to consider in Three Steps to Change Our Nation’s Future and in The Common Sense Fix. In addition, you can read up on some of the debate going on related to the mark to market rule that is getting quite a bit of press here at Zacks Investment Research. If you don’t understand this accounting rule, CNNMoney.com has an interesting article.
$700 Billion has been the most quoted figure for the cost of the bail-out which is now being called a rescue. However, some have used figures up to $1.5 Trillion dollars. A lot of us have a difficult time conceptualizing those dollars when we may be trying to stretch our fixed income retirement and social security checks. To give you some perspective as to how much this affects the individual resident of the United States let’s assume the cost is $1 Trillion. With a US population of approximately 305 million people, this amounts to an approximate cost of $3,300 per person including men, women, and children, whether they pay taxes or not.
Once we get a handle on the bleeding and the pain associated with this disease, we need to identify and eradicate the root of the disease. There will be many committee hearings, task forces, and investigations all pointing to a “cause”. However, Rocking Chair Wisdom believes that when you strip everything away you will find the root of the problem is “Greed”. Money in and of itself is not evil. It is the “Love of Money” that is root of evil and results in the problems of today.
To say we are in troubling times as a nation would be a gross understatement. It is at this time that we are reminded of 2 Chronicles 7:14. When we go to the polls this November, let’s do so as an informed electorate seeking to adhere to the admonishment of 2 Chronicles 7:14 by humbling ourselves and turning from our wicked ways. If you are interested, here is a link to the Presidential Prayer Team web site as well as their Pray the Vote web site.
If you wish to do some reading about the candidates, take a look through the Rocking Chair Wisdom Store. Check out the Kindle wireless reading device category for some suggestions for wireless reading.
Remember, stresses and friction will help us become stronger, just as a plant becomes stronger by pushing through the dirt and by being buffeted by the wind, we will emerge stronger as individuals and as a nation.
There has been a great emphasis on change coming from all fronts lately. The most prominent emphasis coming from the current political candidates, with each promoting change in the way things are done in Washington. Whichever candidate wins the election will result in changes in Washington. Some people will lose their jobs while others will gain new jobs. Attitudes will change and the decision making process will change. This is inevitable.
This got me thinking about other changes, especially changes as they relate to the retired or nearly retired population. It also got me to thinking about some interesting things about society in general.
Of course one of the biggest changes the newly retired individual faces is the different daily routine from being accountable to an employer or business. The retiree needs to find the appropriate rhythm for his or her lifestyle, that rhythm that continues to help give their life meaning. Some retirees may discover that they will need to experiment to find the retirement lifestyle they are comfortable with while others have it all planned out.
Most of us have seen the missives passed around by email over the years comparing life today to that of 25 or 50 years ago. We become amazed at the change that has taken place just within our lifetime and wonder what more could there be for our children or grandchildren?
Some of us can remember the first television sets and how they grew from table top sets to consoles with built in AM/FM radio receivers and turntables that played records (even 78 rpm’s). The fact that this new gadget commenced to utilize our time didn’t matter. We then began to desire television that could travel with us and thus the portable battery operated television came on the market. Now we didn’t have to miss our favorite shows. Then we wanted color (more…)
Have you ever been called a deadbeat? What image first comes to mind when you hear that word? Is it a picture of someone running away from his or responsibilities? Even though this probably isn’t you, did you know that you may be called a deadbeat and not even know it?
A Deadbeat in the credit card industry is a card holder that pays their bill on time and never carrys a balance to the next billing cycle. Even though you are using your credit cards for how they were designed and exercising discipline in managing your finances, credit card companies are not making much, if any, money from your activities and you are then classified as a deadbeat. I have read of cases where not only did the credit card company not make any money from these so called “deadbeats, but they actually paid them to use their cards through cash back incentives.
Credit card companies may actually make money off these deadbeat card holders, but it won’t be through interest they pay. It will be through various banking relationships and merchant fees charged to the merchants that accept the cards.
Credit cards, when used with care and discipline, can be a great asset affording some protection on purchases that paying in cash or by debit may not afford. In tight financial times it can be tempting to pull out the credit card, but unless you are disciplined enough to pay it in full at the end of the month, it can be a costly adventure. Enjoy being a deadbeat for once.
In the July 22, 2008 edition of the New York Times, OP-ED columnist David Brooks writes an opinion entitled The Culture of Debt . In this article he points out the debate between those who say the predatory lenders are at fault for the debt crisis and those who believe the borrowers are at fault. While there are very valid arguments for both sides, is it possible that there may even be a third position to be considered?
According to Brooks, “America once had a culture of thrift. But over over the past decades, that unspoken code has been silently eroded.” As such, what has happened to our financial system is part of a larger social story. Rising home prices presented temptations for people to take on more risk. With an over abundance of easy credit, Americans were able to acquire designer goods. Or how about buying something on credit now with no money down and no payments for 4 years? Make Sense?
Are we like the proverbial frog, that when placed in a pot of cold water won’t notice that the heat is being turned up until it’s too late? It would seem that we absorb the patterns and the norms of those around us. So instead of recognizing the pattern of over indulgence, we start making excuses or jokes about it, which seems to make it a bit more palatable. As Brooks says, “We mimic the behaviour around us. Only at the end is there self-consious oversight.”
What happened after the Depression? A general attitude of frugal living and saving set in. When the dot com bubble burst, we saw a sobering of investments in technology endeavors. With our earlier oil crisis Americans changed their driving and purchasing habits and moved into more efficient vehicles. But once the crisis ended and incomes rose, people began to think the crisis is over and this country began moving in large SUV’s. Sociology must be a fascinating study.
Rocking Chair Wisdom believes it is time for our public institutions, including our places of worship, to begin teaching and speaking about the values our country was founded on. While this would be a worthwhile step, we need to return to teaching these values in our homes. There is nothing wrong with having nice things and even luxurious things. But deep down we need to get back to the basics of where our joy comes from. We are a free people, but seems that in many ways we are trying very hard to lead an “imprisoned” life.
Before we leave you this month, please note that we have added a new category on the right called Inspiration. It is here that Rocking Chair Wisdom will periodically publish articles we find to be uplifting. We encourage you to take a look. Our first article is entitled “Daddy’s Empty Chair”
Until next time, keep on Enjoying Life After Retirement.
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A man’s daughter had asked the local minister to come and pray with her father. When the minister arrived, he found the man lying in bed with his head propped up on two pillows.
An empty chair sat beside his bed. The minister assumed that the old fellow had been informed of the visit. ‘I guess you were expecting me, he said. ‘No, who are you?’ said the father.
The minister told him his name and then remarked ‘I saw the empty chair and I figured you knew I was going to show up.’
‘Oh, yeah, the chair,’ said the bedridden man. ‘Would you mind closing the door?’ Puzzled, the minister shut the door.
‘I have never told anyone this, not even my daughter,’ said the man. ‘But all of my life I have never known how to pray. At church I used to hear the pastor talk about prayer, but it went right over my head.’ I abandoned any attempt at prayer,’ the old man continued,’ until one day for years ago, my best friend said to me, ‘Johnny, prayer is just a simple matter of having a conversation with Jesus. Here is what I suggest. ‘Sit down in a chair; place an empty chair in front of you, and in faith see Jesus on the chair. It’s not spooky because he promised, ‘I will be with you always’.
‘Then just speak to him in the same way you’re doing with me right now. So, I tried it and I’ve liked it so much that I do it a couple of hours every day.
I’m careful though. If my daughter saw me talking to an empty chair, she’d either have a nervous breakdown or send me off to the funny farm.’
This minister was deeply moved by the story and encouraged the old man to continue on the journey. Then he prayed with him, anointed him with oil, and returned to the church.
Two nights later the daughter called to tell the minister that her daddy had died that afternoon. Did he die in peace?’ he asked.
Yes, when I left the house about two o’clock, he called me over to the bedside, told me he love me and kissed me on the cheek. When I got back from the store an hour later, I found him. But there was something strange about his death.
Apparently, just before Daddy died, he leaned over and rested his head on the chair beside the bed. What do you make of that?’
The minister wiped a tear from his eye and said, ‘I wish we could all go like that.’
Spanish Springs Baptist Church, Sparks, Nevada Sunday Bulletin July 20, 2008
July 4th is the day that we Americans celebrate our country’s Declaration of Independence in 1776. A lot has happened in the ensuing 232 years. Countless numbers of men and women have given their lives in defense of what this country stands for and countless others have dedicated their lives to serving their fellow Americans in a variety of ways. It is somewhat easy to enjoy our family outings and vacations knowing that there are numerous protections and safeguards in place that allow us to do so freely. This July 4th, let’s not forget where we have come from as a nation and the struggles and committments it has taken to get to where we are. Let’s not forget the threats that we face together to preserve the foundations of what this country stands for. This Independence Day, based upon our beliefs and our actions, can we truly and in a heartfelt manner say “God Bless America“?
This Independence Day, our country is facing new and renewed challenges economically, militarily, socially, politically, and spiritually. As individual citizens we face our own challenges and as retirees on potentially fixed income some of these may hit us harder than others.
As individuals, one of our biggest challenges is probably in the area of finances. With the price of gasoline rising almost daily and the trickle down effect from that, almost everything we touch takes a greater portion of our financial resources. Add to that the catastrophic impact of nautural disasters we are seeing throughout our country it makes one wonder how can we continue? But Americans by nature are a resourceful people and a people with a strong desire to survive. When I hear a news report that says a town in Missouri of 500 residents has more than 1,000 volunteers helping to sandbag the town against the flooding rivers, I can only thank God for the spirit of these Americans. Wildfires are burning in several Western states, earthquakes continue in northwestern Nevada, extreme heat in the Southwest, and tornadoes and flooding in the Midwest. It is easy to become discouraged, but we as Americans will face the challenge head on.
We as individuals should be continually assessing our responsibility to ourselves, to our families, and to our neighbors. With rising prices it may be necessary to live a more frugal lifestyle. Frugal doesn’t necessarily mean cheap. Wikipedia defines frugality as the practice of
Our level of spending should match our dedication to the values we have established as being important to us. Our values should be so ingrained that every decision we make, whether or not it is a financial one, should be made through the filter of what is important to us. If one of our life’s values is to serve and to honor God, then do our actions and our spending patterns reflect that? If I say one of my values is to honor my spouse then go and selfishly acquire something for myself, am I negating the importance of that value?
This Fourth of July, let’s take time to thank God for the greatest country on this earth and to pray for a healing within our land. Let us strive to be the best stewards of everything we have been given and to practice frugality wherever we can. Let’s identify our values and live our lives according to those values.
Rocking Chair Wisdom wishes you a safe and frugal Fourth of July celebration.
With rising costs of traveling, are you vacationing or sta-cationing this year? Let us know at RockingChairWisdom@gmail.com . Don’t forget your KINDLE.
During the past month, I have had the opportunity to travel to the Sierra Nevada area, especially the North Lake Tahoe area along with the Reno/Sparks area in Northern Nevada. It is an amazing part of the country to visit, and even to live.
To understand the significance of this area to those that are retired or “nearly” retired, I encountered the premiere issue of Sierra Nevada BOOMERS, a bi-monthly publication of the Sierra Nevada Media Group. Recognizing the value of this group of individuals, this organization has put together both a printed publication as well as a Sierra Nevada Boomers Web Site striving to reflect the distinctive lifestyle of the Boomer generation, especially those in the Reno, Tahoe, and Carson City region.
From my perspective, no matter where we live, Boomers experience all of the same concerns that non-Boomers experience, but with a different focus. In addition, I believe there are issues that become much more significant in the life of the retiree as we move through the second half of our life.
Maybe my perspective is different than most, but for me, here are some of the questions and/or issues that come to mind:
As I traverse this road of retirement, I find that I have a greater appreciation for the visual arts. I see the majesty of the colors exhibited in nature and I realize that what strikes me is that this is the last time I, or anyone else, will see that particular image unless it is captured by some kind of visual arts media.
Consequently, I have become more interested in photography. I want to capture visual imagery that will let others coming behind me see how my world , as limited as it might have been, looked through my eyes.
Rocking Chair Wisdom would like to know if and how your outlook on life has changed as you live out your life of retirement or if it is changing as you approach your future retirement day? Let us know at RockingChairWisdom@gmail.com and we will try to compile them for a future issue of Rocking Chair Wisdom. Please let me know if it is ok to publish your comments and/or name should you choose to respond.
Here are a couple of scenes that caught my eye over the past few months. These were taken with my Canon PowerShot A 650 IS. You can find other cameras and accessories in the Rocking Chair Wisdom specialty store. Now maybe someone can coach me on how to improve on the images.
I know there are many other ways to express ourselves to others. When thinking about the rocking chair the vision of a grandfatherly type old man came to view just sitting there whittling. I wasn’t even sure if anyone whittled any more until I found a web site with photos of his various works. Possibly this is a form of art that is being lost to the intricacies of another form of art such as wood carving.
We are a generation that gets involved and can make things happen. Let’s not lose our culture to posterity. Let’s individually do our own part to preserve what little bit we can. Let’s be sure that our children and grandchildren can see the positive things we have been able to do to enrich their lives.
We have been hearing for some time now the debate as to whether or not the United States is in an economic recession. Economists don’t necessarily agree, politicians try to put a positive spin on the economy, and the media tends to use the following definition: “The standard newspaper definition of a recession is a decline in the Gross Domestic Product (GDP) for two or more consecutive quarters.” Perhaps the more realistic definition is the one demonstrated by the following joke comparing a recession to a depression:
Recession: When your neighbor loses his job.
Depression: When you lose your job.
While we want our elected officials and other leaders to take the bull by the horns and solve our problems, we need to make whatever adjustments we can in our own sphere of influence.
There was a company back in the late 1920’s that was on the verge of extinction, but due to an innovative method of marketing, they were able to fend off bankruptcy and were able to become a mainstay in America until about 1963 when they were acquired by another American company. Let’s see if any of you remember the following:
In case you can’t read the words:
She kissed
The hairbrush
By mistake
She thought it was her husband Jake
Burma Shave
This company was able to find a solution to their individual need and as a result weathered the storm.
Retiree’s, and especially those that are considered “The Silver Tsunami” or Baby Boomers have demonstrated a great resiliency and a desire to make a difference in their world beyond their previous work place. Retiree’s definitely are not through with living. They were independent in the 50’s and 60’s and they are still independent today. With the greatest level of wealth of any category in this country, many are able to make great strides in achieving their goals, trying something adventurous and focusing on different passions to make the world a better place.
This generation has seen a great deal of change, especially in the area of breakthrough technology, but this generation is also embracing new technology and in many ways is leading the bandwagon to create change.
What will we see in the next 20 years? I don’t know that anyone can accurately predict. Even if they could, it wouldn’t be any fun. We need the dreams, the creativity, the challenges, and the breakthroughs of the unknown to make life enjoyable. Take for instance this excerpt from PCWorld.com which talks about a humanoid robot created by Honda Motor Company conducting the Detroit Symphony Orchestra on May 13, 2008.
I read of one wish by a 10 or 11 year old about not having to carry around a backpack full of school books every day but could have an electronic device that would have all their her textbooks where she could access them and only have to carry the one device. This isn’t as far fetched as it may seem. We all know of the information available through computers, cell phones, pda’s, and other digital media. Amazon came out with a product in November of 2007 that sold out immediately after being placed on the market. It is just now recovering enough from the initial demand and is now able to ship on a regular basis. You can read more about this device called the Kindle Here.
Take a look at our blog roll on the right hand side of this blog. If you have suggestions for helpful links, please let us know. We want to make this blog as well as our web site as useful as possible for those that are retired or are nearly retired. We would like to see these two vehicles become a way to demonstrate how we can Enjoy Life After Retirement.
In case you haven’t read it yet, take a look at the April 2008 edition of the Rocking Chair Squeaks. Rocking Chair Wisdom has presented some information there relating to the switch from analag television broadcasting to digital broadcasting in February 2009.
Until next time, enjoy your life after retirement to the fullest.
While the above statement may sound quite ominous, it is a true statement. After that date, older analog televisions will no longer be able to receive over the air programming. The federal government has established that date as the date broadcast television stations must switch over to broadcasting solely a digital signal. There are some exceptions such as low power stations or translator stations, but this change will involve most television stations throughout the country.
What this means is that if you currently receive your television signal over the free airways on an analog television set (do you have an older set using “rabbit ears”?) you will need a converter box between your television and the antenna to continue receiving the over the air signal. If you are using a digital television with “rabbit ears” to receive over the air signals, then supposedly you will be ok without a converter box.
U.S. Senate Special Committee on Aging Chairman Herb Kohl (D-WI) held a hearing, Sept. 19, 2007 concerning the upcoming DTV transition and its disproportionate effects on America’s seniors. “Seniors are particularly vulnerable to slipping through the cracks of the transition. Not only are they more likely to rely on free over-the-air analog TV signals, but for many seniors television is their only link to the outside world,” said Chairman Kohl. “Without adequate planning and coordination, seniors will be left in the dark.”
The government has set up a coupon program to help Americans switch to digital. They are offering up to two (2) coupons good for $40 each towards the purchase of converter box that allows for the digital signal to be viewed on an analog computer.
All of this sounds good, and at least my local television station is promoting the switch well in advance, but there is a potential audience that could be affected by this coupon program but won’t be able to take advantage of it. This is because the program allows for 2 coupons per Household. It is possible that retirees and seniors are living in nursing homes or group homes where they don’t subscribe for cable television and rely upon their older analog to keep them in touch with their local news or syndicated programming. Since there could possibly be more than two televisions in the Household, everyone may not be able to get their coupon.
If you know anyone in this situation, you may wish to explore these two web sites for more information: DTVtransition.org and DTV2009.gov
How do we know when we have achieved our full potential? What holds us back from going further? What are the limiting factors that keep us from continuing to grow and achieving greater things in our retirement years? Let’s explore this thought for a little bit.
Some of the more overused words and overused phrases in the business community seem to be “change” and “change management”. We talked about it all the time in the business community and now that we are retired or are facing retirement we are talking about it again, but possibly in a more personal manner. I would venture to say that most of us have an area we consider to be our “comfort zone” and the only way we are going to consider moving from this zone will be if it occurs in a very deliberate and controlled manner. Some circumstances may dictate a forced change, but hopefully we are currently in a position where we can endeavor to control our destiny, so to speak.
Perhaps the greatest limiting factor to change is fear – fear of the unknown. Change will take us out of that comfort zone and if we don’t know where it is taking us we can become quite uncomfortable. I would venture to say that a close second limiting factor is the erecting of artificial barriers we place around ourselves to avoid having to make a change.
I am reminded of the age old story about elephant handlers training circus elephants. These handlers take these young elephants when they are small and weak and chain them to iron stakes in the ground which prevent them from breaking away and running free. This allows the trainers to keep them close, work with them, and prepare them for their routines. When these little elephants mature into huge, powerful elephants capable of lifting a ton or more with their trunks, they remain restricted by those same small iron stakes. When they are more than strong enough to pull the stakes out of the ground, they don’t even try. Even if you remove the chains from the stakes but leave them attached to the ankles, they remain within their usual perimeter of movement. They remain bound by their old boundaries and don’t venture beyond. If elephants are able to think, possibly they are thinking “I can’t go any farther, so why try?”
A similar scenario happened on the farm where I grew up. Low voltage electric fences were used as means to control any wandering activities of the animals. While initially they would test the boundaries, eventually you could turn off the low voltage electricity but the animals would not venture close to the fence. This story was adapted from The 4:8 Principle by Tommy Newberry, available from Floodgates of Heaven Bookstore .
As we venture through retirement, do we artificially limit ourselves? When we are young we look at everything in a pretty broad fashion. At that time we saw the world as a huge cornucopia of opportunity. As we went through life with our careers or raising our families, we saw some of the fruit of the cornucopia starting to disappear. When we reach retirement age, it appears that all that is left is what is in the tail end of the cornucopia basket. We don’t observe the trees of opportunity that have grown up as a result of seeds falling to the ground from the basket.
Perhaps now we can utilize the time we used to spend writing grant proposals or RFP’s to writing that novel or short story we never seemed to have time to complete. Maybe we had an eye for detail and spent our working years in the accounting or audit fields. Can this same eye for detail be refocused to apply that trait or skill to photography or painting or sculpting?
There are so many stories of folks that have used this chapter of their lives to do fantastic things. My own father’s retirement hobby was creating quilt tops. After retiring from farming, he created over 300 quilt tops. Maybe this isn’t amazing in itself, but considering he began his first one in 1934 and didn’t finish it until after he retired shows that a spark of a dream or goal remains active. For my father, he didn’t let the barriers of life deter him from fulfilling his dream and expanding upon it. Utilizing a treadle sewing machine that was reported to be at least 100 years old and 30,000 postage stamp size quilt blocks per quilt, he created an amazing array of quilt tops – all after he retired. Many small community organizations benefited from his talents by using donated quilts for fundraising activities.
Rocking Chair Wisdom challenges each of us to find ways to expand our horizons and to not allow artificial barriers to stifle our ability to lead a rich and full life where we can truly enjoy life after retirement. Let’s stretch our comfort zones.
If you would like to share how you are enjoying or are planning to enjoy your life after retirement please let us know at Rocing Chair Wisdom. Contact us at RockingChairWisdom@gmail.com . We would love to hear from you and if you allow us, to share some of your experiences and perhaps photos on the web site we are developing at: www.Rocking-Chair-Wisdom-Life-After-Retirement.com .
