Importance of Staying Active During Retirement

Earlier in life, you may have envisioned yourself lounging around, carefree throughout your retirement days—not really doing much to speak of. However, this is not the path taken by most retirees, and it’s certainty not the healthiest way to spend your time. Indeed, staying active during retirement helps you live a longer, healthier, and live a more fulfilling life than you would watching daytime television. Retirement is a new beginning—a time to grab life by the horns and live out your dreams. After all, you don’t have to worry about the morning commute anymore.

To better help you understand the importance of staying active during retirement, Tribute Homes has put together a list of the top benefits associated with living an active lifestyle.

Staying active during retirement is good for your brain

There are a number of studies that have found that physical activity helps reduce your risk of cognitive decline, Alzheimer disease, and dementia of any type. Maintaining healthy cognitive functioning is essential to living an independent lifestyle in your later years, and the good news is you don’t have to run a marathon to qualify as staying active. Simply going on an evening walk with your spouse, playing golf, tennis, or swimming all help keep your brain healthy as you get older. Even if you think you are years away from having to worry about cognitive problems, it is often said than an ounce of prevention is worth a pound of cure. Getting yourself into healthy habits will make it easier to stay active as you get older, and it’s never too soon (or too late) to start.

Staying active during retirement is good for your physical health

In addition to keeping your brain healthy, living an active lifestyle during retirement is also good for your physical health. Some of these benefits include: maintaining a strong and healthy heart though cardiovascular activities; keeping your muscle toned; keeping your bones strong; and maintain a healthy weight. Physical activity also reduces your risk of a number of illnesses like diabetes, heart disease, and certain types of cancer. 

Staying active during retirement is good for your emotional health

A study published in the American Journal of Epidemiology found that physical activity reduces the risk of subsequent depression for older adults. In addition to increasing your life expectancy, physical activity also helps you live happier. When you exercise, your brain releases endorphins, which are a chemical associated with happiness and an overall sense of well-being. In addition to making you feel better on the inside, staying active also gives you more opportunities to stay engaged with friends and family. Golf outings, tennis matches, and water aerobics are all great ways you can stay active while having fun. Which leads us to our last point….

Staying active during retirement is fun

If you were very active before retirement, chances are you already know that being active is fun. However, if you’re looking to start new habits, the best way to do it is to start off slow. The worst thing you can do is overwhelm yourself by trying to do everything at once, only to get disinterested and talk yourself out of continuing your goals later on. Social sports, like some of the ones discussed above (Golf, Tennis, Water Aerobics) are all great ways to have fun, and if you’re having fun then you’re more likely to continue those activities. It’s win-win situation!

To help you stay active during retirement, Tribute Homes has developed a number of active adult communities in South Carolina with tons of amenities to make sure you’ll always have something to do. Some of these amenities include recreational facilities, golf courses, pristine lakes for boating and fishing, and more. To learn more about Tribute Homes’ offerings, visit us online at www.tributehomesusa.com or call us directly by phone at 800-381-2984.

Why you need to start preparing for your retirement now

With retirement just around the corner for many baby boomers, the time to start preparing for your retirement is now. You've worked hard your whole life for this moment, and you need to make sure that all your ducks are in a row so you can live the retirement lifestyle you've always dreamed of.  To help make sure your retirement is everything you've hoped for, Tribute Homes, a new home builder specializing in active adult communities throughout the Carolina, has put together this article explaining the importance of preparing for your retirement now.

Determine what kind of retirement lifestyle you can afford

One of the trickiest aspects of transitioning from working full time to retirement is the idea that you’ll be living off of your savings. While everyone’s retirement picture is different, there are some guidelines that most financial advisers recommend when planning for retirement. 

First, you’ll need to figure that you’ll only be living on 70 to 80 percent of your pre-retirement income. Since you won’t be commuting, and won’t need to regularly replace your work clothes, this reduction in income is somewhat offset by a reduction in your work-related expenses. Additionally, you’ll want to be sure that you don’t outlive your retirement savings, so you should overestimate the number of years you’ll require an income.

Once you know how much income you have to work with, you can start to figure out the lifestyle you can afford, i.e., develop your retirement budget. Ask yourself questions like: Do you want to buy a second home, or move into a retirement community? How often do you plan to travel? How will you deal with unexpected medical expense? Are you still providing financial support for your children? All of these are good questions to start thinking of now. If you find that your budget isn't balancing like you hoped, it’s easier to make adjustments before retirement — while you still have time to adjust — than to wait until you’re already living off your retirement savings.

Avoid penalties on your retirement savings

Some retirement accounts have minimum required distributions that you have to make to avoid incurring penalties. For example, as of 2012, IRAs require that you begin withdrawing money when you reach the age of 70.5 at a rate of roughly 3.6 percent per year. You’ll also want to sit down with you financial adviser to discuss how you should start re-balancing your investments as you get closer to retirement. You may be able to avoid capital gains taxes, or otherwise maximize your total account value by making adjustments early on. You don’t want to get into a situation where you’re forced to liquidate assets at less-than-desirable costs or penalties. 

Plan for major purchases and expenses

Many retirees choose to move into an active adult community, or buy a vacation home to spend part of the year at. Planning for major purchases well-before you enter retirement will help you determine the timing of certain expenses to make sure you can comfortably afford these purchases. You’ll also want to plan for health care costs, which are increasing at a rate of approximately 6 percent per year. You may be shocked to learn that a 62-year-old couple that lives to 92 years old will spend approximately $400,000 in health care costs (excluding long-term care costs). You can read more about health care costs during retirement here. 

While there are plenty of other good reasons to start planning for your retirement now, they all come to the same conclusion: it’s better to look ahead and prepare than to look back and regret.

If you’re considering moving to an active adult community, you should consider one of Tribute Homes’ new home developments in South Carolina. We've built everything with the active adult in mind, and we know you’ll love the time spent on the lake, playing golf, or relaxing with your new friends. To learn more, visit us online at www.tributehomesusa.com or call us directly at 800-381-2984.

Benefits of Living in an Active Adult Community

You may have some misconceptions about living in an active adult or 55+ community, and we're here today to dispel those beliefs. The truth is, more and more recent and soon-to-be retirees are finding that living in an age-restricted, new home development is almost like going back to college. Active adult communities share many of the same characteristics with the college experience: a community of like-minded individuals entering a new stage in their life, a sense of energy and excitement about the possibilities, and a population with a lot of spare time on their hands for recreational activities. Tribute Homes is one of the largest new homebuilders in the Carolinas, and has a number of wonderful active adult communities throughout South Carolina. To help you better understand some of the benefits of living in an active adult community, we’ve put together a list of some of the top reasons you should.

Social Benefits

Perhaps the biggest benefits of living in an active adult community are social, namely the possibilities of making new friends. With most of the residents being in the same stage of life as you, you’ll find that you all have a lot in common. Active adult communities, such as the ones developed by Tribute Homes, often feature an amenities center or clubhouse as the residents call it. This provides a central location to mingle with neighbors and stay engaged with the community.

Emotional Benefits

Living in a community with neighbors going through the same stage of life can provide a lot of needed emotional support. You’re likely to find a neighbor or friend in the community who had to deal with similar issues as you, whether it’s related to health, finances, or adjusting to the new pace of life you’ll find comfort in sharing your experiences with people who have been there.

Designed Specifically For You

Tribute Homes creates each one of its active adult communities for a specific type of person. Whether you prefer golfing, lakeside living, or both, Tribute Homes’ active adult communities provides you with all the ingredients to enjoy yourself to the fullest. Additionally, all the community amenities and floor plans are hand selected to fit the needs of an active adult. It’s like living in a resort made just for you!

Safety and Security

All of our communities are designed for active adults ages 55 and over, which means you won’t have to worry about the neighbor’s kids throwing loud house parties. And since all of our new construction homes come with a 10-year structural warranty, you’ll sleep better knowing your home is safe and protected from structural and mechanical defects. Additionally, all of Tribute Homes’ communities are nearby major cities, so you’ll have quick access to some of the best health care facilities in the state.

Residents who move into active adult communities all do so for different reasons, but they all share one thing in common: a desire to continue living an active, healthy, and fun retirement lifestyle. To learn more about what makes living in Tribute Homes’ South Carolina active adult communities so great, visit us online at www.tributehomesusa.com or get in touch with us directly on the phone at 800-381-2984.

Starting a business later in life

With continued volatility in the stock market and uncertainties about job and retirement security, many baby boomers are finding that starting a business later in life is a rewarding way to generate income and stay active. In fact, a survey sponsored by Yahoo Small Business in 2005 found that 56 percent of prospective retirees wanted to own their own business—more than four times as many who reported not wanting to do anything at all!

Starting a business makes a lot of sense regardless of your previous background. In your earlier career, you've learned a lot about what it takes to run a business — you've seen what works, what doesn't  and have a pretty good idea of how you’d do things differently if you were in charge. Well, here’s your chance. Learn from your previous employers’ mistakes, and run your business like it ought to be.

Starting your own business is also a great way retire without really having to retire. Owning your own business not only has the potential to generate valuable income to bolster your post-retirement lifestyle, it also keeps you busy and engaged. Starting your own business also has other perks like the ability to set your own work schedule, which allows you to better balance your work and personal life. Think of your business venture as a hobby with a financial incentive.

A common misconception people have about starting a business is that it costs a lot of money. However, with the advances in technology today starting your own business doesn't have to be overly expensive. All you need to run a successful business today is a computer with an Internet connection, depending on the type of business you’re in. Additionally, you can run your business out of a home office to reduce overhead. Having a home office also allows you to write certain expenses associated with your business on your taxes, another financial benefit of being your own boss.

Keep in mind, however, that starting a business isn't for everyone. You'll need to assess your own financial situation and risk profile before deciding whether starting your own business is suitable for you.

If you’re looking for a new home to retire to, and perhaps start your own business, Tribute Homes has a number of affordable housing options geared towards active adults. With several communities throughout South Carolina, you’re sure to find a community to match your lifestyle and budget. For more information, visit us online at www.tributehomesusa.com or contact us directly by phone at 800-381-2984.

Nature's Nurture - Calming Effects of the Great Outdoors

Tribute Homes is one of the largest homebuilders in South Carolina. Specializing in retirement communities for active adults, we understand how important it is to get outside and enjoy nature.

Being outside on a nice day while soaking up the sunshine and breathing fresh air is a great way to reduce stress. As Americans, we often wear stress as a badge of honor, but it’s not healthy and you don’t have to live that way. The effects of stress can cause problems with your sleep, headaches, irritability, depression, and more; all of which can be avoided with a little more time spent outside.

Studies have shown that being outdoors is associated with a number of health benefits. Apart from any cardiovascular benefits of exercising outdoors, simply “being” outside is better for you than you think.

The main benefit of being outside has to do with your body’s exposure to natural sunlight. Sunlight contains important UV rays and does wonders for your psychological and physiological health. Natural light stimulates your body to produce serotonin, Vitamin D, and has even been shown to increase cognitive abilities. Try it for yourself: make an effort to spend more time outside and see how your mood improves. Chances are you’ll be surprised how good you feel with a regular dose of the great outdoors. Be careful though, too much exposure to UV light can cause problems later on, like skin cancer — so you should be careful to soak up all those wonderful UV rays in moderation.

Being outside also gives you a sense of connectedness and harmony with the earth. We often spend our lives living separate from nature, but this is only a recent trend. Balancing your life and experiencing more nature helps you focus more on what matters in life: living.

Activities like playing golf, going on nature walks, gardening, or relaxing by the lake are all great ways to enjoy nature with your family and friends, and living in a golf community or lakeside retirement community makes enjoying nature even easier. Tribute Homes offers a number of affordable housing options in its retirement communities throughout South Carolina. A number of our communities have amenities like golf courses and boating facilities to accommodate your active lifestyle.

For more information, visit us online at www.tributehomesusa.com or call us directly at 800-381-2984.

The Boomerang Effect - When Your College Kids Return Home

Now, more than ever, college students are moving back in with their parents after graduation in a phenomenon known as the Boomerang Effect. According to CBS News, over 6 million young adults currently live at home, largely due to a lack of jobs, student debt, and high costs of living.

While having your children return to live at home after college is a relatively new phenomenon in the United States, multigenerational households are much more prevalent in other societies throughout the world.

It can be enjoyable to spend time with your children after college; however, you should set some ground rules from the outset to make sure the arrangement goes as smoothly as possible.

Set Ground Rules Early When Your College Kid Returns Home
Shortly after your child returns home, you should sit down and discuss some ground rules. These ground rules can include things like whether you expect your child to pay rent, how long they can stay with you while they get on their feet, and “hours of operation” to make sure they don’t invite their friends “back to their place” late at night. You might even consider drafting a written contract that details your expectations from your child, so there is less confusion if problems arise later on.

Since a primary reason prompting your child to move back in with you is financial, it may be hard to expect rent money from your child right away. To help overcome this you can offer to let you child work off their rent by performing household chores and duties. This can be an excellent opportunity for you to get some much needed yard work complete, or simply have more time for yourself to relax.

Additionally, you should let them know that you expect them to look for a job and that the arrangement isn’t permanent; rather, it's an opportunity to let your child get off their feet. Requiring your child to look for a job is both good for you and your kid, as they need to work on becoming more independent.

While there is no single formula that works for every family, the best advice is to be supportive of your child — especially in the beginning. It probably isn’t an ideal arrangement for either of you, but with a little time your child will be able to find their respective place in the world and hopefully remember your generosity later on.

Finally, if you’re considering a new home once your child leaves, you should be mindful of the possibility of your child returning to live with you. Planning ahead and purchasing a home with an extra bedroom or two, depending on your needs, can help make the arrangement comfortable for both of you.

Tribute Homes has a number of floor plans available throughout its retirement communities in North Carolina that can accommodate you and your child. If you’d like to learn more about homes currently available in our communities, visit us online at www.tributehomesusa.com or contact us by phone at 800-381-2984.

Living the "Retired" Life in Charlotte

North Carolina ranks among the top states to retire in. In fact, North Carolina is expected to surpass Florida as the number one retirement destination in the coming years, according the National Active Retirement Association. If you’re looking to move somewhere different for your retirement, Charlotte, North Carolina should be at the top of your list. To help you understand just why living the retired life in Charlotte can be so great, we’ve put together list of reasons that should put Charlotte at the top of your list.

Entertainment
Charlotte has a little bit of everything to offer its residents in the way of entertainment. Whether you chose to spend a day at the Biltmore Estate, catch a NASCAR race at the Charlotte Motor Speedway, or simply unwind and relax on one of Charlottes many golf courses and lakes, Charlotte is sure to fill your days with fun-filled activities for years to come.

Affordability
In addition to a plethora of entertainment options, Charlotte consistently ranks as one of the most affordable cities in the United States. According to a recent survey conducted by Forbes, Charlotte ranked 6th overall in the nation, and other surveys have Charlotte ranked even higher. Low property taxes, combined with affordable home prices means more money in your pocket to enjoy your retirement!

Climate
Charlotte has a humid subtropical climate, and offers four distinct seasons throughout the year. Winters aren’t as harsh as they are up north, and are generally pretty short. More importantly, the summers don’t get very hot in Charlotte and average a pleasant 80 degrees—perfect weather for golfing and boating! With such a pleasant climate, you’ll be able to enjoy outdoor activities throughout much of the year.

Location
One of the main draws to Charlotte is its proximity. Situated almost smack dab in the middle of the east coast, Charlotte makes it easy to visit friends and families in both the north and the south. Additionally, Charlotte is close to large international airports that make traveling a breeze.

Economy
Did you know that Charlotte is the second largest financial center in the United States, second only to New York? Notably, Bank of America chose Charlotte for its headquarters. Companies like Lowe’s, Family Dollar Stores, and Nucor are also headquartered in Charlotte. While work is probably the last thing you’re thinking of going into retirement, the vibrant economy in Charlotte helps keep the city maintained and stabilizes housing prices — making Charlotte an ideal place to invest in for the future.

There are many more reasons why so many people enjoy living the retired life in Charlotte, and we welcome you to come visit and find out for yourself. As the largest homebuilder in Charlotte, Tribute Homes offers a number of retirement communities throughout North Carolina. Whether you want to live in a golfing community or have a house on the lake, Tribute Homes has something for everyone.

To learn more, visit our website at www.tributehomesusa.com or contact us directly by phone at 800-381-2984.