Wow – 36 New Active Communities Make the 100 List for 2015

Category: Active adult communities

October 3, 2015 — The think we love the most about the 2015 list of the most popular active communities at Topretirements is that there are so many newcomers – 36 communities are new to it this year! It is great that there are so many new faces – even more interesting places for our Members to explore. Another huge piece of news from the 2015 results is that our long-time, undefeated, #1 community, The Villages, was narrowly edged out of first place by another perennial top 10 finisher, Fearrington Village near Chapel Hill, NC. The 2 communities could not be more different – in scale, amenities, and feel – it’s refreshing to see such variation in the choices available to retiring baby boomers.

Speaking of diversity
The 2015 list has some unusual and exotic choices for retirement (more…)

Posted by Admin on October 3rd, 2015

The Sharing Economy Might “Lift” You to a Comfortable Retirement

Category: Financial and taxes in retirement

September 29, 2015 — Earlier this month we ran an article about starting your own business in retirement. This will continue the series, but this time we will concentrate on other ways to make extra money once you retire. With so many baby boomers concerned about their retirement finances (only 46% of members in our recent survey say that their expected retirement income will allow them to continue their pre-retirement lifestyles), we expect it is a topic many of you will be interested in.

There are generally 2 ways to put the extra money in your pocket that affords a worry-free retirement. You can either work for someone else, or you can be your own boss. Each of them has their particular advantages and disadvantages. Let’s look at both.

Posted by Admin on September 28th, 2015

10 Worst States for Taxes on Retirement Income

Category: Financial and taxes in retirement

September 21, 2015 — We thought this topic would be easy. Do some basic research, then come up with a list of the worst states for taxes on retirement. But after looking at the research we had to say – not so fast! There are so many considerations depending on your individual circumstances that any cut and dried, one size fits all approach is not going to be useful. All of these factors, for example, will have a major effect on your tax bill from one state to another: your income, the value of your home, the type of retirement income you get (and where it comes from), and whether you file singly or jointly. Yet we will try to come up with such a list, thinking of a prototypical couple that might, or might not, be similar to your situation. In this case we are focusing on worst states for retirement income taxes, and ignoring other taxes like those on property.

Back in 2011 we ran a similar exercise. In that one we had a hypothetical retirement couple (both over 65) who derives their income from a roughly equal combination of social security, (non-government) pension, and investment income. At that time we arbitrarily computed income taxes for 2 income levels: $60,000 and $100,000. We then applied all the standard, personal, and over 65 exemptions we could find. These income levels are obviously (more…)

Posted by Admin on September 23rd, 2015

Great Places to Retire That Won’t Break the Bank

Category: Best Retirement Towns and States

September 15, 2015 — Lists of great places to retire are a commonplace these days – but it is novel to see one which includes places that haven’t been mentioned before. Money has done just that with their list of “Best Places to Retire for 2015“. Their complete list has 25 great towns; we are going to review the Top 10 on the list here. We like how they described the list: “These 25 towns offer a wealth of opportunities for enjoying your life after work—without cracking your nest egg”.

The Money list has different categories – Best places for the arts, best places for the outdoors, best places for golf. One of the main attributes of the list was that the towns should not be prohibitively expensive. None of them are that, although many feature a median cost of home that is at or near the national median ($229,400 according to the National Association of Realtors® in 2015’s 2nd Q). Some of these towns have been on various lists before – many have not! Click on the name of the town to see (more…)

Posted by Admin on September 14th, 2015

Survey Results: Less Than Half of Members Expect to Maintain Pre-Retirement Lifestyle

Category: Financial and taxes in retirement

September 9, 2015 — Have you been wondering how your retirement income stacks up to that of other retired people in your situation. Or whether it will be enough to provide your pre-retirement lifestyle? Well, thanks to the almost 1500 community-minded members who took the time to contribute their valuable data and insights to last week’s “How Much Do You Expect to Receive in Retirement” survey, now you will know. If you didn’t complete it you owe these folks a big thank you.

As promised, here is a detailed report on what the survey turned up. It includes links to hundreds of individual comments to various questions on the survey. Those include the one about your retirement budget preparations, and how confident you are that the income level you EXPECT to receive will be enough to maintain your pre-retirement standard of living. You will find a list of our previous survey reports at the end of the article.

This is the first time we have asked you for data about your retirement income expectations, and how that agrees with what you think you will need. We were also intrigued with the question about whether you intend to move out of state, and if finances are related to that (more…)

Posted by Admin on September 8th, 2015

So You Want to Start a New Business in Retirement?

Category: Work and Volunteering

September 1, 2015 — Note: This is continuing series. See the latest installment: “The Sharing Economy Could Be Your Ticket to a Comfortable Retirement“.
Elaine (Brickhorse), a longstanding member at Topretirements, recently asked if we could write an article about working and/or starting your own business in retirement. We think it is a great topic so we have shared some thoughts about it here. Best of all, we look forward to reading the experiences, hopes, and dreams of all the great people who contribute to this website in the Comments section below.

Sure, lots of people dream about starting their own business. It sounds great: be your own boss, make lots of money, work when you want to, do something you love – there are many good reasons (or fantasies!) to be an entrepreneur. On the other hand there are plenty of negative realities to think about. This article will explore the pros and cons, as well as summarize some of the current best practices for how to go about starting your own business, large or small.

The Pros
We think there are at least 4 great reasons to start a business in retirement:

Do what you like to do. We read (more…)

Posted by Admin on August 31st, 2015

Complete Our Anonymous Retirement Income Survey

Category: Financial and taxes in retirement

August 31, 2015 — Charles, one of our members, recently asked an interesting question: “Is 5000/month enough to live on”? To help answer it we have prepared a Retirement Income Survey. We had a great response to this survey, with almost 1500 people taking it. You can see our detailed report on the results, which includes access to hundreds of comments made, here at Survey Report- Maintaining Pre-Retirement Income Is Hard

Posted by Admin on August 31st, 2015

All Aboard: You Can Retire on a Ship

Category: Travel

August 15, 2015 — Note: This article by our frequent contributor Jan Cullinane was originally published by US News & World Report.

Retirees can live anywhere they want to, and it doesn’t necessarily have to be a single place. Some retirees choose a life at sea, constantly moving from place to place on a cruise ship.

For example, Beatrice Muller lived on the Queen Elizabeth 2 from 2000 to 2008, when the ship retired from service. Muller was 82 when she began living aboard full time. Another retiree, Claire MacBeth, sailed on back-to-back Cunard cruises for more than a dozen years. And Lee Wachtstetter, 86, ditched her (more…)

Posted by Admin on August 25th, 2015

3 Steps to Take… Before You Hire a Financial Advisor for Retirement

Category: Financial and taxes in retirement

August 18, 2015 — Many of us don’t have the interest, the background, or the perseverance to do a great job managing our retirement money. As a result, we often turn to a financial advisor for help with planning and making smart investment choices for the retirement funds that are so important to our retirement security. But before you sign up with someone from the yellow pages, that fabulous guy the boss recommends, or your brother-in-law, here are some things you should be doing to protect and maximize your nest egg.

1. Don’t get fleeced
The sad fact is that there are many unethical people out there who would love to separate you from your hard earned retirement savings. They very often come with glowing references, testimonials, track records, advertising, and impressive credentials. And thanks to those weapons, thousands of (more…)

Posted by Admin on August 17th, 2015

The Art of Giving a Eulogy…and More

Category: Family and Retirement

August 13, 2015 — One of the unpleasant aspects of being a baby boomer at this stage of our lives is realizing that our own mortality is inevitable, after all. Loved ones and dear friends are starting to pass on in growing numbers… some day we are pretty certain we will too. Dealing with that loss has many difficult aspects, so this article launches a series of how-tos on the subject., one of our favorite websites, had some great articles on the topic recently. We will add our thoughts to two of those here, and provide you with (more…)

Posted by Admin on August 12th, 2015
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