Selome Samuel

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Retirement Saving Tips

Just about everybody has heard of identity theft, but most people do not believe it could ever happen to them. The fact is, identity theft is more common than most believe. Its not hard for identity thieves to obtain all of the information they need in order to assume another persons identity, but it can be made a whole lot harder for them if people remain smart and protect themselves as completely as possible.

When it Happens?

If a person becomes a victim of identity theft, it can take a long time – possibly years – to recover from it. It can also cost the victim thousands of dollars as well as ruin their credit score. Usually, its nearly impossible to recover from identity theft in a quick manner because many things have to be resolved before forgiveness will be given by the three major credit reporting companies in the United States.

If identity theft does happen, the person who is the victim will probably experience problems obtaining any sort of financing (mortgage, car loan, student loan, credit cards, etc?). And, the worst thing that can happen is that the victim of identity theft can even get arrested for crimes he or she did not commit.

All of the results of being a victim of identity theft are not fair, and are very difficult to resolve. Being a victim can be a real headache and can basically interrupt or stall an innocent persons life for several years. So, the best possible thing is to do is to try and do anything and everything to prevent becoming a victim in the first place.

Protect Personal Information

The easiest way for identity thieves can assume another persons identity is to obtain personal information from a potential victim and use that information to fill out loan or credit card applications.

While most victims do not offer thieves their personal information, they are not aware that their information is contained on many documents that they have not disposed of properly. For example, thieves have been known to go through peoples trash cans looking for personal information. When papers are thrown away without being shredded, thieves can retrieve the information and use it.

Thieves are also known to go through peoples mailboxes to obtain in-coming letters from banks and/or credit card applications and use the data from these various pieces of mail to apply for loans or credit with the stolen information.

In-coming mail is not the only source of mail-related information that thieves can acquire. Out-going mail that is placed in a persons mailbox for the mailman to pick up and take to the post office is a great source of information for thieves. When a flag is placed in the upright position on a mailbox to indicate that letters are inside waiting to be mailed, its like a signal to thieves that they should come on over and steal it. Therefore, letters should always be mailed in a post office mailbox instead of a personal/home mailbox.

Other Ways to Prevent Identity Theft

Its not difficult to perform some easy steps to prevent being a victim of identity theft. In addition to properly disposing of paper containing personal information and mailing letters at the post office, following are some additional tips:

1. Always destroy receipts, credit card applications, tax information, canceled checks, and mortgage information before throwing it away. This means completely shredding it or even burning it before it reaches the trash can.

2. Even if a credit card is expired, cut it into tiny little pieces before throwing it away. Some people throw half of the tiny pieces into one trash bag and half into another trash bag.

3. Report stolen credit cards immediately to credit card companies. Dont wait an entire day? Do it the minute theyre discovered to be missing.

4. Monitor credit reports on a regular basis, and watch for anything suspicious. If anything out of the ordinary appears, investigate it right away.

401K Retirement

Retirement doesnt mean the end of an active lifestyle. Quite the contrary, it opens up new opportunities for many new activities. Some retirees substitute voluntary community work for their former work. This gives definition or meaning to their roles after retirement.

Household work, volunteer work, family roles and community service actually increase after retirement. The familiar roles of grandparents increase because of the expanded time available for travel.

The skills and knowledge acquired before retirement have value in the life of a retiree. Even if learning something new education and training affects the ability to do various activities at retirement. Lack of skill and a low literacy tends to limit the leisure activities of retirees.

A very difficult task to prepare for later on in life is the ability to cope with losses that increase as people get older. The productivity is the first loss in retirement but adjustment usually is short. Loss of a spouse generally has the biggest impact, and in general is the hardest to anticipate unless a terminal illness is diagnosed before death. The best preparation for a loss of spouse is to work on a sense of independence and self-reliance.

The two biggest concerns for retirement living were security of finances and health coverage. This is according to the GSA (Gerontological Society of America). Another great concern identified was isolation or lack of social support for well-being and loneliness or lack of support for emotional well being.

Planning for retirement must have preparation for financial well-being, a social support network, a set of meaningful activities and health care coverage. All of these concerns actually relate to each other. When a retiring person has a sound financial plan, the person can buy adequate housing and health care coverage. Retirement lifestyle is a continuation of the persons middle-age life.

A sound lifestyle can last a long while. Friendship and family can provide the support network later on in life. Retirement planning which includes developing economic and social skills cannot anticipate everything but provides a good foundation for enjoyment of life later on.

A successful retirement living includes the creation of a network of groups, family members and friends. Few people choose to be alone from the rest of their lives even if approximately forty four percent of women and roughly 18 percent of men aged 65 or older lived without relatives. Fifty percent of women above 65 were widows.

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