GeekSugar

Seniors Have Some Swing Batter Batter Wii Fun

GeekSugar — Thu, 16 Aug 2007 15:00:31 PDT

The Riderwood retirement community in Silver Spring, Maryland is following in the footsteps of the Sedgebrook retirement home in Chicago, Illinois by hosting Wii game tournaments. A feel good story from Kotaku explained how the residents at Riderwood had a Wii Home Run Derby last week in honor of Barry Bonds record-breaking home run. They even had Doris Terry, a pitcher from the 1940's All-American Girls Baseball League participate in the Derby. Considering 47 percent of all casual game players are 50 or older, and nearly 20 percent are 60 or older, the Wii seems like a fun way for seniors to get some exercise, stimulate their minds, and have a jolly good ol' time!

View 2 Photos ›

5 Things You Always Wanted to Know About Paying For College

LearnVest — Wed, 23 May 2012 00:15:23 PDT

Paying for college is such a complex issue. LearnVest helps simplify it by answering some key questions in regard to paying tuition.

If you believe everything you read, then you might think you need to be a Rockefeller to have kids.

That, of course, isn't the case.

Yes, kids are expensive, and thinking about paying for a college education can be scary and frustrating . . . but that's where we come in.

As with everything else in life, figuring out what to do about your kid's college savings is all about the planning, says Stephany Kirkpatrick, CFP, LearnVest's director of financial planning. Depending on where you are in life right now and how old your kids are, you may have questions about how to set up a 529 plan (which is an education savings plan designed to help families set aside funds for future college costs), what to look for, and when to start saving.

If you're pregnant or have a newborn and are starting to think about this, then good for you! The earlier you get started socking away cash for their college, the easier it will be. You'll learn a lot in this article, but you should also check out our Baby on Board Bootcamp, which will tell you everything you need to know - financially - to be ready for a baby. It includes 529 advice, as well as financial tips on everything from putting together a will and picking out a life insurance policy to buying nursery basics.
If your kid is slightly older and you’ve done your research but haven’t yet started saving in a 529 plan, then first read the four mistakes to avoid when choosing a 529 plan, and then check out the different college savings plans available to you.
If this is the first you’re thinking about it, no matter your kid's ageI, then don't worry about it. You have to start somewhere!

Read on for more.

Why Everyone (Even 20-Somethings) Should Make a Will

Business Insider — Tue, 22 May 2012 00:15:44 PDT

Getting a will is not just for those who are on the cusp of retiring. People of all ages should consider writing one, says Business Insider. Here's why.

Despite the well-known fact that everyone alive today will kick the bucket at one point or another, nearly 60 percent of Americans admitted in a 2011 poll conducted by online legal service Rocket Lawyer that they didn't have a will.

In fact, one-third said they'd rather do their taxes, get a root canal, or give up sex for a month than lay out their dying wishes in black and white.

All right, let's not get out of hand now.

Making a will these days is easier than ever, and if you've been putting it off simply because it seems daunting, then you could be making a big mistake.

"You do it for your family's [future]," says Rocket Lawyer founder Charley Moore. "[A will] enables you to start thinking about issues like whether you have the right insurance coverage, life insurance, and ways of replacing your lost income."

Whether you're 22 years old and just ran your umpteenth marathon or you're ready to retire, laying out an estate plan should definitely be near the top of your to-do list.

It's one of the three most important documents every adult should have.

Here are the other two, according to Moore:

A living will: Also called an advanced healthcare directive, a living will is where you lay out all the nuts and bolts of your end-of-life care. If you wind up in a coma or unresponsive in the hospital, then a living will can help your family decide how to handle your medical treatment.

Durable power of attorney: Choose an attorney you trust to administer your estate after your death, says Moore. He or she will be objective (unlike family members), and their entire job is to follow your wishes.

Read on for more.

Swimmer Dara Torres on the Quest For Her Sixth Olympic Games

espnW — Fri, 11 May 2012 04:12:32 PDT

We are pumped to share one of our fave stories from espnW here on FitSugar!

By Luke Cyphers

Dara Torres once wrote a book called Age Is Just a Number. Nowadays, though, the feel-good story of the 2008 Olympics admits to, well, feeling her age. Torres won two silver medals as a 41-year-old mother and swimmer in Beijing, but she harbors no illusions about repeating the feat four years later. "You have to be realistic," Torres said. "I am 45 years old. I'm that much closer to being 50, and my body just can't recover the way it used to."

Her goal was gold in 2008. In 2012? "I don't feel like I have anything else to prove going into these Olympic Games," said the 12-time medalist. "It's not about medals. I have enough."

So why does she put herself through grueling training five days a week in the hopes of making her sixth - and she swears last - U.S. Olympic team? Because, at her best, she's still one of the fastest sprinters in the world. She placed second in the 50-meter freestyle (25.24 seconds) at the winter nationals. Last month, she swam a solid 25.36 seconds in the prelims of the Indianapolis Grand Prix, but faded to 25.47 in the final to finish sixth. She'll need to place within the top two at the Olympic trials in Omaha in June to make it to London.

Kim Rhode is not your typical Olympian

Dara Torres says it is harder for her body to recover compared to when she competed in the 2008 Olympics. "If I had to just swim the race once, I don't think it would even be an issue making the team," she said. "But I have to swim it three times, and having my body recover for those three races is my issue."

Torres embraces the actuarial challenge of capping an Olympic career 28 years after it began in 1984, even as her world has changed and her body has creaked. Her longtime coach, Michael Lohberg, died of a rare blood disorder in 2011. One of Lohberg's assistants, Bruno Darzi, now coaches her. Her daughter Tessa is now 6. And her left knee required surgery and more than a year to rehab. Through it all, "I still have a passion for the sport of swimming," she said.

But there's also a sense of obligation to the public following she has built through her success and frequent television appearances. (The former telecommunications major and frequent morning-show guest announced her comeback on "Live with Regis & Kelly.") "I have so many people come up to me and say I'm inspiring them to do things that they thought they couldn't do because they were too old, or that they put off because they couldn't find a balance in their life to do it," Torres said.

Keep reading for more on Dara Torres' Olympic past and present.

A Pass That Offers Unlimited Lifetime Access to First-Class Travel

Emily Co — Mon, 07 May 2012 15:29:12 PDT

Imagine having access to a pass that lets you fly as much as you want. Sounds too good to be true, right? Well, that's the reality for the lucky few who own AAirpass, a pass that gets them an unlimited lifetime access to first-class trips on American Airlines.

The lifestyle of these privileged AAirpass holders was recently featured in an LA Times feature over the weekend. Apparently, American Airlines is losing millions of dollars from some of the heavy users of the AAirpass program. The firm decided to find ways to cancel some of their memberships and allegedly used dirty tactics such as bribery and extortion.

The program was started in 1981 as a way for the airline to raise money for expansion. Each pass started out costing $250,000 and came with the option of purchasing an additional companion pass for an extra $150,000. Of course, the price rose throughout the years, and the airline finally retired the program in 1994. However, it did make one last appearance in 2004 in a Neiman Marcus Christmas catalog for $3 million.

Here's what it's like to hold one of these passes:

"He was airborne almost every other day. If a friend mentioned a new exhibit at the Louvre, Rothstein thought nothing of jetting from his Chicago home to San Francisco to pick her up and then fly to Paris together.

In July 2004, for example, Rothstein flew 18 times, visiting Nova Scotia, New York, Miami, London, Los Angeles, Maine, Denver and Fort Lauderdale, Fla., some of them several times over. The complexity of such itineraries would stump most travelers; happily for AAirpass holders, American provided elite agents able to solve the toughest booking puzzles."

It sounds like a dream to be able to fly to any country you want on a whim - where would you travel if you had one of these passes?

7 Money Mistakes Women Often Make

LearnVest — Fri, 04 May 2012 00:15:55 PDT

We all make mistakes - we're all human after all. LearnVest shares some of the common money mistakes that women often make so readers will learn not to make them, too.

Some of us handle our money flawlessly, perfectly, brilliantly, all of the time.

But most of us don't.

Most of us make mistakes here and there. We make some mistakes more than others, because of our personalities, or our upbringing . . . or sometimes even our gender.

It's ridiculous, but true.

We've heard it firsthand - from our readers. In fact, we went through hundreds of reader submissions and found examples of the most common stories that cross our desks every day.

Let's be clear: Not all women make these mistakes. Not all men avoid them. But in our experience, these are a few female financial problem areas that can lead to major debt and lots of stress.

RELATED: Are You a Social Shopper?

Ever bailed out an ex? Indulged in a little more retail therapy than you meant to? Or woken up one day and realized you didn't know as much as you thought you did about managing your money? You just might recognize yourself.

Of course, if you don't, good for you. We're just saying, bad money snafus happen to good people. But read on: We'll show you the top seven mistakes women make - and what to do instead.

Feeling Guilty

"When we were together, I let my ex stay with me rent-free until he found an apartment, lent him my furniture and paid for every date because I had a job and he didn't. When I lost my job, he paid for my rent for a few months and bills, etc. Now that we're broken up, he wants me to pay him back for the rent he insisted on covering. I am still on unemployment and barely getting by. I feel so guilty because we didn't end up as the forever couple and while I can't (nor would I . . . ) calculate all of my assistance getting him settled in NYC, he can quite easily."

A 2011 study from Eversave.com found that 67% of women have felt guilt about a purchase. But that's not the only opportunity for guilt: There's also staying in a job you feel guilty about abandoning, giving someone money because you feel guilty about their situation and, oh, doing the opposite of what you want when it comes to working after having children because you feel guilty about being a good mom (more on that here).

This guilt effect might not be limited to finances, either. Some studies suggest that women are more inclined than men to feel any kind of guilt. And we'd argue, more likely to bail out their exes, too.

Read on for more.

Savvy Links: 13 Easy Energy Savers For Your Home

Emily Co — Thu, 03 May 2012 13:00:01 PDT

13 easy energy savers for your home - Real Simple
Women behind in retirement savings - LearnVest
Why I was fatter when my finances were not good - Budgets Are Sexy
The best bags for walking to work - Corporette
Hillary Clinton kept the biggest secret in the world from husband - The Jane Dough
The job interview secret no one's telling you - Forbes
10 worst ways to make extra money - Wise Bread
The most important job in the world - HuffPost Women

Earning $50,000 Will Make You Happy

LearnVest — Wed, 02 May 2012 00:15:28 PDT

The magic number for happiness is apparently $50,000. LearnVest tells us more about it.

Good news! Apparently, happiness is on sale for the new, low price of $50,000.

Nope, we’re not talking about private trips to outer space, or even tuition for an Ivy League college. Apparently, all you need to be happy is $50,000 in yearly income.

That’s the finding of a recent poll by the Marist Institute for Public Opinion, which saw big differences in almost all facets of happiness between those who earn less than $50,000 and those who earn more.

Call it the happiness tipping point, if you will.

Respondents to the poll who made more than $50,000 were more satisfied with their lives concerning factors ranging from friends, to health, to how they spent their time. Unlike getting a raise from $35,000 to $40,000, or even $60,000 to $65,000, “$50,000 is the mark where you start to see significant differences,” researcher Susan McCulloch told LearnVest.

Happiness: Now 33% Off!

Depending on your own situation, $50,000 might sound like a lot. But this is actually a steep discount from what studies previously cited as the golden number: $75,000. A 2010 study from Princeton University’s Woodrow Wilson School found that, up to $75,000, each boost in income increased participants’ happiness. But after that, bringing home more income ceased to matter in their overall life satisfaction.

Read on for more.

How to Select Dinnerware For Your Registry

Sara Yoo — Wed, 25 Apr 2012 11:30:01 PDT

The scanner gun is unholstered and a store full of kitchen delights spreads out in front of you. But before you pull that trigger, have you done your research? While wedding registries may seem like a green light to sign up for every dish, appliance, and throw pillow of your dreams, making smart list choices will help ensure that your generous guests buy the items you can really use . . . and eliminate the need to rent a storage locker to stockpile your new stuff.

First up, we're serving up some tips on how to select the best dinnerware for your needs and lifestyle. Those plates, bowls, and coffee cups may seem awfully plain next to that shiny chrome espresso machine, but you'll end up using them more frequently than virtually any other item in your kitchen cabinets, so you'd better love them for the long haul. Ready to dish on dinnerware? Just read on.

Which Tax Records to Keep and Which to Toss

Kiplinger — Mon, 23 Apr 2012 15:02:39 PDT

Now that you're done with taxes, it's time to do a little Spring cleaning with your financial documents. Kiplinger advises what to keep and what to toss.

It's smart to keep your tax returns indefinitely. Old returns can provide important background information in a variety of situations - for example, if you're applying for a mortgage, applying for disability insurance or trying to figure out the cost basis of investments. The pages from your return don't take up much space, and the records are easy to digitize, so you don't need to keep the paper versions of your old returns.

Also keep records of your home's purchase price and major home improvements for three years after you sell the home. Most people no longer need to pay taxes on their profits on a home sale: Single filers can exclude $250,000 in profits from income, and married couples filing jointly can exclude $500,000, as long as they've lived in their home for at least two of the past five years. But if you live in the house for less than two of the five years leading up to the sale, your gains may be taxable. In that case, your home-improvement records can substantiate an increase in your tax basis and a lower gain (the cost of basic repairs doesn't count). For more information, see IRS Publication 523 Selling Your Home.

It's a good idea to keep records of stock and mutual fund purchases made in taxable accounts for as long as you hold those investments. The records will come in handy when you sell the shares and must report the purchase price, date of purchase and number of shares involved. Also keep records of any stock or mutual fund dividends you've reinvested so you can avoid paying taxes on them again when you withdraw the money.

Read on for more.