Month: October 2023

2023-10-02T15:41:55

(BPT) – While many people look forward to enjoying their golden years, others are delaying or coming out of retirement. According to the Department of Labor, there’s a growing trend of older adults participating in the labor force. The department expects the force growth rate of the 65- to 74-year-old age group to be about 55%, and 86% for the 75-and-older age group’s growth, compared with a 5% increase for the labor force as a whole.

There are many reasons why many older adults are “reverse retiring.” For some, it’s a matter of financial security or generating extra income to fund a comfortable retirement. But beyond financial peace of mind, returning to work allows one to explore passions and try a new path.

These so-called “encore careers” help older adults stay engaged, generate income and find a purpose. If you’re retired or close to retirement and considering changing careers or pursuing a passion that pays, check out these four tips that can set you up for success in your second act.

1. Look before you leap

Before you let the excitement of an encore career overtake you, you’ll need to prepare and create a plan. Take time to evaluate your motivations for an encore career: Is this for my financial security or fulfillment? What are my salary expectations? Is there market demand for my skills and services? Will going back to work affect my retirement plans and current benefits? These are all important factors to consider before starting your second act so you can succeed without the benefits a 9-to-5 may have provided previously.

2. Pick something that excites you

While many folks take on an encore career for financial security, it’s also an opportunity to do something you love and that excites you. Take the chance to test drive a new career or interest you’re passionate about.

For example, if you enjoy spending time with pets, become a professional pet sitter or dog walker. If you love weddings, get ordained and become an officiant. You can start with a few gigs, and with a little patience, you can soon build a reputation and clientele doing what you love.

3. Find support

Working for yourself can seem challenging and isolating, but it doesn’t have to be. In fact, if you plan to be self-employed, it’s important to build a support network. If this is your first time working for yourself and heading a business, find a mentor to guide you. Organizations like the Service Corps of Retired Executives (SCORE) can connect you with experienced mentors who can help you start and grow your small business.

You’ll also want to identify key players you’ll need to help you succeed in your encore career. If there are areas of your solo venture that are outside your wheelhouse, find freelancers or contractors who can fill the gaps. Sites like Upwork and Fiverr can help share the workload and provide expertise when needed.

4. Plan for your health

If you’re coming out of retirement or putting it off for an encore career, it may mean changing your health coverage. For example, if you’re a retiree on Medicare, you may have to pay higher premiums or choose to pay for private insurance to supplement your existing Medicare plan benefits. Also, some health insurance plans don’t offer important health care services like vision coverage for routine eye exams and eyeglasses or contacts.

Even if you don’t need glasses now, your vision will naturally decline as you age. According to the National Institutes of Health, older adults may have trouble seeing up close, distinguishing colors and adjusting to changing light. Also, your risk of certain eye diseases and conditions increases as you age and they seldom show symptoms. Left untreated, vision problems can impact your ability to work after retirement. That’s why it’s so important to have vision insurance that includes an annual eye exam.

If your health plan doesn’t include vision insurance or your coverage changes and you lose your vision insurance, you still have options. Insurance plans, such as VSP^® Individual Vision Plans, are designed for those who work for themselves. Individual vision plans are simple, personalized benefits that start as low as $13 a month and provide an average savings of over $300 per year. To learn more, visit VSPDirect.com.

Coming out of retirement and working for yourself can seem overwhelming, but with careful planning, you can secure extra income and pursue your passions. Using these four tips, you’ll be ready to start your encore career and succeed in your second act!

2023-10-02T09:27:01

(BPT) – Do you experience regular back pain? You’re not alone. According to the National Institute of Occupational Safety and Health, more than 1 in 4 (26%) working adults experience low back pain.

Not only is it painful, but studies show that back pain can limit your activities and impact your ability to work. In fact, the Health Policy Institute found it to be a leading cause of work-loss days, with 83 million days of work lost per year.

Whether you work from home, the office or a combination of both, it’s important to invest in your musculoskeletal health and protect your back. In recognition of National Ergonomics Month, the American Academy of Orthopaedic Surgeons (AAOS) offers three tips to strengthen and protect your back while working.

1. Practice proper posture

Let’s get back to basics. Sitting properly is the first step to protecting your back. You may not realize how often you slouch or hunch over your desk while working. Practicing and maintaining proper posture may seem simple, but it will go a long way in preventing back pain and injury.

When sitting, keep your back in a normal, slightly arched position and your head and shoulders erect. Adjust your chair so your elbows are relaxed, your hands are resting comfortably on the table, your knees are bent at 90° and your feet are flat on the floor.

2. Set yourself up for success

Your work environment can have a big impact on your comfort and musculoskeletal health. Instead of forcing your body to fit your workspace, set up your workspace to fit your body.

Focus on making your workstation more ergonomic. Make sure your working surface is at the proper height, and your computer screen is at eye level, so you don’t have to lean forward. Consider ergonomic office equipment that is designed to promote proper posture and back support. You can also consider using a Swiss ball (or exercise ball) as your desk chair to work your core and protect your back.

3. Take a break

If you’ve ever been to a baseball game, you know how nice standing up for the seventh-inning stretch feels. Even though it’s a sedentary activity, sitting puts a strain on your back. Once an hour, if possible, take a few minutes and give your back a break by standing up and slowly stretching.

Carefully place your hands on your lower back and gently arch backward. Take a walk to the break room, another room in your remote workplace or take a lap around the office. You can even try some simple desk exercises like neck stretches and shoulder rolls. A break not only protects your back but can also refresh your mind so you can return to your work with sharp focus.

“Good musculoskeletal health is not just about treating problems when they arise; it’s about taking proactive steps to prevent them in the first place,” said Alan S. Hilibrand, MD, MBA, FAAOS, an orthopaedic surgeon specializing in spine surgery. “By maintaining proper ergonomics at our workstations and building the strength of our core stabilizing muscles we can significantly reduce the risk of developing debilitating chronic or debilitating back pain and related conditions.”

For more strategies on how to take care of your back at home and work, visit OrthoInfo.org.

2023-10-02T10:27:00

(BPT) – A largely behind-the-scenes network of wholesale banks is making a difference for households from coast to coast. While borrowers may not know the name, the Federal Home Loan Bank System (FHLBank System) is very well known among the local lenders — whether it’s a commercial bank, credit union or savings institution — that consumers turn to for financial products and services.

These “Banks for Banks” are 11 independently operated, cooperatively owned, privately capitalized regional FHLBanks, each offering their member institutions reliable access to billions of dollars in low-cost funding so they can meet the changing credit needs of their customers and communities. FHLBank San Francisco is one such bank, serving Arizona, California and Nevada, and advancing that low-cost liquidity to member lenders in those communities. The dollars are deployed by the co-op’s member lenders in the form of home mortgages, business loans, commercial real estate funding and other lending, as well as for a variety of community development activities.

In fact, your local lender is likely to be an FHLBank member, since about 6,600 financial institutions nationwide hold membership in their regional FHLBank. That’s because FHLBank membership gives lenders tangible competitive advantages that benefit consumers, including first-time homebuyers and small business owners.

Here are three ways that a local lender’s FHLBank membership may be helping you save money and achieve your financial goals.

1. Lower interest rates

How much you pay for a mortgage, auto loan or personal loan is directly tied to how much the lender is paying for the dollars they lend out. To be able to lend at competitive interest rates, a lender needs access to reliable sources of appropriately priced funding. Larger financial institutions have a variety of funding sources beyond deposits, including the ability to directly borrow from the global capital markets, where the cost of funds can be most competitively priced. For most community lenders, day-to-day funding options are much more limited.

However, as an FHLBank member, your local lender can access funding from their FHLBank at a lower cost than they would be able to secure in the open market. That’s because the FHLBanks are in the capital markets daily, issuing bonds that enable individual FHLBanks to offer better pricing to all member lenders, no matter how large or how small. These member lenders can then provide their customers with more favorable rates. A study by the University of Wisconsin-Madison School of Business estimated that FHLBank System lending helped save consumers an estimated $17 billion per year in interest payments.

2. Consistent access to a diverse array of credit products

As a member of an FHLBank, a local lender has access to a prompt and reliable source of funds that helps them manage their own day-to-day funding needs, allowing dollars to be put to work in the communities they serve for a variety of purposes. When a local lender has more capital available, they can offer qualified borrowers a wider variety of products. Along with home mortgages, they can offer a host of lending products that drive community vitality, including personal and small business loans, all while effectively managing their own interest rate risk to ensure their institution can maintain its stability in changing economic environments.

3. More responsive local lenders

Because each FHLBank has a regional focus, member lenders can be confident they have a partner who understands the distinct characteristics of their markets, enabling them to be more responsive to the changing needs of the communities in which they do business.

For example, lenders with FHLBank membership can access housing and economic development grant and credit programs designed for the demands and challenges of their region. At FHLBank San Francisco, a key priority is working to address the persistent affordable housing crisis in its markets. Since 1990, FHLBank San Francisco has directed $1.3 billion to aid the development, rehabilitation or purchase of nearly 150,000 affordable homes.

FHLBank members also have members-only access to grant programs that can provide direct financial assistance to the aspiring homebuyers and nonprofits they serve. Such initiatives include WISH Program matching grants for low- to moderate-income first-time homebuyers, a Middle-Income Downpayment Assistance program, AHEAD economic development grants, and discounted credit programs. All of these programs are designed to promote long-term housing stability, expand access to homeownership and drive local economic vitality.

Supporting American dreams for over 90 years

The FHLBank System has been operating quietly behind the scenes for 91 years to the benefit of millions of Americans. Created to support mortgage lending and community investment, the FHLBanks have remained resolute in their purpose while evolving to meet the changing credit needs of their member financial institutions and the consumers and communities they serve, in all economic environments. To learn more, visit fhlbsf.com.

2023-10-01T04:07:03

(BPT) – With the holiday season approaching, it’s time to start making a list and checking it twice to ensure all your loved ones receive a thoughtful gift. This year, take the worry out of gift-giving by choosing books for your friends and family.

Whether you need a gift for a traveler, sports fan, amateur astronomer, comics fan, or home chef, you can find the ultimate page-turner that educates, inspires, and delights them. Check out these five must-have books to give this holiday season.

1. 100 Bike Rides of a Lifetime

Whether your loved one is an expert rider or casual enthusiast, National Geographic’s 100 Bike Rides of a Lifetime will get their pedals turning. This inspiring and beautifully illustrated book reveals the ultimate bucket-list destinations for cyclists, from traffic-free carriage roads through Maine’s Acadia National Park to the challenge of Chilean Patagonia’s peaks.

This guide offers essential information like the best time to ride, the best spots to refuel, cultural highlights along each route, where to stay, and how to relax post-ride. The guide also shares the best routes around the world that fit any rider’s style, from quick jaunts to multiweek challenges.

2. Got Your Number

Help settle once and for all which sports legends flat-out own which numbers. In his bestselling book of short essays, ESPN personality Mike Greenberg (aka Greeny) uses his lifetime of sports knowledge to spin yarns of athletic immortals and tell you who has proven themselves great enough to own each number, 1 through 100.

Whatever the sport, there’s something for every fan. After reading this book, your loved one will come away enlightened, a little enraged, occasionally surprised, and most importantly, entertained.

3. To Infinity and Beyond

If your friend or family member enjoys Neil deGrasse Tyson’s StarTalk podcast, they’ll be delighted when you present them with a copy of To Infinity and Beyond. In this entertaining book, readers travel with Tyson and StarTalk senior producer Lindsey Nyx Walker through space and time, starting with the Big Bang and voyaging to the far reaches of the universe and beyond.

Illustrated with vivid photographs and art, this narrative draws on mythology, history, and literature to explain the universe from our solar system to the farthest reaches of space with authority and humor. It even sheds light on the triumphs—and bloopers—in Hollywood’s space blockbusters. Whoever receives this gift will learn and laugh as they explore the universe within the pages of this book.

4. Look Out for the Little Guy

Struggling to find a gift for the Marvel fan in your life? Get them a copy of Look Out for the Little Guy, the in-universe book seen onscreen in Marvel Studios’ Ant-Man and The Wasp: Quantumania. Written by Scott Lang, aka Ant-Man, this in-movie memoir shares stories from life as an ex-con turned Super Hero.

Within these pages, readers will learn about what really happened between the Avengers and Thanos, how shrinking down to ant-size really feels, and challenges of balancing the roles of hero and dad.

5. Delicious Disney: Disneyland

What do you get for someone who enjoys cooking and the Disney Parks? Gift them Delicious Disney: Disneyland, a recipe book with food-related stories from Disneyland’s past, present, and future. The book includes 60 diverse recipes from Disney Chefs, perfect for home chefs of all skill levels.

This cookbook-meets-culinary-history coffee table book features an assortment of appetizers, main courses, sides, desserts, and libations from fine dining and quick-service establishments across Disneyland. Each has been tested by home chefs to help readers re-create cherished vacation memories and inspire them to make new ones.

This holiday season, you can feel confident that friends and family will feel loved when they receive any of these five entertaining and meaningful books. You can find these and other Disney Publishing Worldwide books wherever books are sold.