Financial and taxes in retirement
July 28 — Are you the type of person who has a certain “magic number” in mind? The magic number being the amount of savings you think you need to quit the working world and retire. It’s always been an interesting exercise, with the problem that all too often these numbers tend to be unscientific, often relying on shaky assumptions about spending and income.
Finding the magic number is an essential step in every baby boomer’s preparations for a worry-free retirement. Nowadays there are any number of retirement calculators available on the internet. These nifty web pages take the mystery out of the process. (more…)
Posted by Admin on July 28th, 2008
Green Retirement Communities
July 22 — If there is one “cool” trend in home building today, it is going green. A number of factors have come together to make the green (environmentally sustainable) movement the potential saving grace of struggling home builders across the world. In fact, a McGraw-Hill Construction/National Association of Home Builders study predicts that “The market for green housing will grow to from as little as $12 billion this year to between $40B and $70B by 2012.”
Obviously the high price of oil is factor number 1. With oil prices skyrocketing, residential buildings, which account for 21% of U.S. energy consumption (source: U.S. Energy Information Administration), are an easy target for money-saving ideas. (more…)
Posted by Admin on July 22nd, 2008
Best Retirement Towns and States
July 15 – Retirees are coveted by states and towns because of their economic value. They buy homes, usually don’t need jobs, and bring with them pensions, social security checks, not to mention tax dollars. A report from the N.C. Center for Creative Retirement: Institute for the Future of Retirement at UNC Asheville finds that some states are doing better at attracting retirees, and they are not all the usual suspects.
The Center relied upon 2005 data from the Census Bureau’s American Community Surveys (ACS) to compile their findings. The biggest news reported is that Florida, although still receiving the biggest share of 60+ individuals, continues to lose market share to other states, particularly Texas. (more…)
Posted by Admin on July 15th, 2008
Best Retirement Towns and States
For a lot of people the dream of retirement includes golf – and plenty of it. We’ve seen lists of the top 10 golf communities from other sources in the past, but frankly, they were less than satisfying. Nice list, no passion. That inspired us to a project we could really get into the swing of – the Topretirements.com list of top 10 golfing towns for retirees. Our criteria: the ready availability of great golf, relatively low cost, and other redeeming (non-golf) features, where possible.
Compiling a list like this by a self-described golf nut is a (more…)
Posted by Admin on July 8th, 2008
Active adult communities
July 3 — Buying into a retirement or active adult community is a complex decision involving where you want to live, what lifestyle and activities you want, costs, and what kind of neighbors you want. Your new Home Owners Association (HOA), which typically runs most active adult communities and condo associations, is another issue requiring careful thought. Now HOA’s are in the news for another problem – caused by owner delinquencies and foreclosures.
Home Owners Associations typically set the rules for a community as well as pay the bills and hire the people that run the place. When the Association is well run and the community is strong, all is well. But when a community starts to see too many delinquencies on the fees it charges residents, and when too many owners are foreclosed upon, trouble hits. A new article in seeking alpha chronicles some of the problems Homeowners Associations are having across the country, as the remaining owners are hit with extra fees to make up for the people not paying their bills.
In Florida Gov. Crist just vetoed a bill offering new protections and rights to HOAs – the bill would have allowed them to lien and foreclose on properties in arrears. Apparently the law is needed (about 1.4 million Floridians live under HOA’s) but the governor was not happy with some terms in the bill.
Posted by Boomer1 on July 3rd, 2008