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99 and Still Going Strong

With Reva Gornbein

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Reva Gornbein is an amazing and wonderful person. At age 97, she took a trip to Antarctica. In this video, Reva shares her experiences in the army during World War ll. She visited Hitler’s bunker...

Public Safety & Seniors

With Police Chief, Phil Langmeyer and Fire Chief Mike Morin

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Bloomfield Township, Michigan Police Chief, Phil Langmeyer and Fire Chief Mike Morin lead us in a discussion of the many services both departments have for those of us who are gracefully greying...

Adaptive Yoga

With Mindy Eisenberg

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Join my guest, Mindy Eisenberg, founder of Yoga Moves MS, as we discuss adaptive yoga. Mindy demonstrates how she helps those with MS and other degenerative diseases to use mindfulness in order to...

Empty Nesters

With Dr. Ronna Smith-Craig

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Psychologist Dr. Ronna Smith-Craig discusses empty nesting, the grey divorce and the importance of planning for events such as retirement for those of us who are gracefully greying. Other issues...
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Coronavirus Resources

Key Financial  Tips - Don’t Panic!
Laurie Blume
/ Categories: Financial, Money Management

Key Financial Tips - Don’t Panic!

Remain Calm in Turbulent Times

Here are a few financial tips for those of us who are Gracefully Greying adapted from the Financial Manager and AARP Magazine:

  1. Do not panic. Panic is the enemy.
  2. Diversification is your safety net. Make sure that your money is spread among different types of investments, such as U.S. stocks, foreign stocks, bonds and publicly traded real estate trusts. Investing in mutual funds is safer than buying individual stocks and bonds.
  3. It is hard to plan for economic calamity.
  4. Think twice before paying off your mortgage if it uses up a lot of cash.
  5. Do not panic and sell too early. This is how most people get hurt by market downturns. Panic is your biggest enemy.
  6. Do not be overconfident either. There are always down turns in the market. The four most dangerous words when the markets have been strong for a long time: “This time it’s different.”

Another good read is Suze Orman's article 10 Steps to our Ultimate 'Retirement, published in AARP.  Another important read is published by U.S. News & World Report, What the Coronavirus Means for Your Retirement Finances.

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