Active adult communities
Note: This is Part 1 of a 3 part series. Here is the link to Part 2, “Jay Michaels’ Search for the Perfect Active Adult Community“, and Part 3: 5 Years Later
July 26, 2011 — Our friend Jay Michaels was kind enough to send us his notes about his recent trip to the Williamsburg, Virginia area and the 55+ communities located there. He and his wife are considering retirement there. We hope you enjoy his impressions as much as we did. BTW – have you been out visiting regions or communities – we’d like to hear from you too!
We visited Williamsburg a few weeks ago and liked it – it is an attractive area. Williamsburg is about 45 miles east of Richmond and closer than that to Newport News. The area is appealing to us because it keeps us reasonably close to our children but is also a bit warmer than the area of Pennsylvania where we currently live.
The people are open and friendly and seem to be very happy with living in Williamsburg. Just about everybody we met was (more…)
Posted by John Brady on July 26th, 2011
By Maria Tadd
July 25, 2011 — According to the American Association of Retired Persons (AARP), about 90% of retirees and 80% of baby boomers say they want to remain in their neighborhoods indefinitely. It is generally agreed that this is a good thing too – gerontologists have found out that aging in place vastly improves the quality of life for seniors and is a lot cheaper for society than residential facilities.
The reasons for this are not all that surprising. It is not just our house and belongings that provide comfort but it is also the cultivation of long-lasting friendships; caring neighbors who (more…)
Posted by John Brady on July 25th, 2011
Active adult communities
July 19, 2011 — The Huffington Post is the world’s master of controversial publishing. Recently they really stirred things up in their “expose´” of Home Owners Associations (HOAs), “Home Owners Associations Cause Trouble in Retirement Communities“. Their one-sided broadside apparently hit a nerve too, generating 634, mostly angry, comments at last count.
The thrust of their mostly one-sided article was this: bad guy HOAs unreasonably foreclose on innocent homeowners, causing catastrophic damage. In particular, the authors cite the Inlet House Condo complex in Fort Pierce, Florida. The community has fallen on hard times, with units that sold a few years ago for $76,000 now going for as little as $3,000. Rats had infested vacant units and sewage was seeping into lower level units. Huff Post took issue with the HOA’s assessments and subsequent foreclosure of condo owners who failed to pay those assessments or other fees. Hundreds of angry people apparently agree, as they vented with Comments laden with examples of diabolical HOAs, vowing never to conform to these power grabbing boards
We respectfully disagree with both the major thrust of the Huffington Post piece and their angry (more…)
Posted by John Brady on July 19th, 2011
Financial and taxes in retirement
June 19, 2011 — Imagine for a moment that you just purchased an annuity at age 62 and a half. If you decide to start taking payments on it today, you can. But if are willing to wait 7 and 1/2 years, you could increase your monthly payments by at least 75%, maybe more. Which option would you take?
From our headline you have probably guessed we are talking about social security, which at its most basic is an annuity – a guaranteed payment for as long as you and/or your spouse lives. It is clearly one of the best annuities available. You and your employer paid for it. And the money is virtually guaranteed (unless (more…)
Posted by John Brady on July 19th, 2011
Retirement Real Estate
July 15, 2011 — Note: This is Part II in our series from Sandy, who has spent years researching how to find the perfect – and affordable – retirement spot. “Part I: What Sandy Learned in 8 Years of Visiting Dozens of Active Adult Communities” has attracted 49 comments so far.
For me and my husband the best way to a ‘perfect’ retirement is to enjoy wonderful Northern springs, summers and falls – and spend winters somewhere warm. In spite of what a lot of people think, it is possible for almost anyone, even those on a very small budget, to experience this dream. This article will tell about a successful strategy we used to get there.
A few years ago I was searching the Internet for a way to stay longer in Florida without the high cost of the Destin (more…)
Posted by John Brady on July 15th, 2011
Baby Boomer Retirement Issues
July 13, 2011 — When you were in college or just out of school, did your parents seem old to you? Mine were in their mid 50’s then, and they seemed a little bit old. Funny how mid-50’s feels awfully young these days. According to a new Associated Press-LifeGoesStrong.com poll, a lot of baby boomers feel the same way – the median age cited as starting to get old is 70, with a quarter going a lot higher, about 80. Younger adults, however, seem to think 60 represents the start of old age. The results among baby boomers make sense to us!
Other conclusions from the survey are interesting (more…)
Posted by John Brady on July 13th, 2011
September 30, 2014 Note: This article from July 2011 has just been updated. A lot has happened in the health care market since then, particularly the Affordable Care Act (aka Obamacare). And so this is now Part 3 in our Health Care Insurance series – see links to Parts 1 and 2 in Further Reading below
Congratulations on your retirement. Now, what the heck are you going to do about health insurance?
Millions of baby boomers are finding themselves retired before the “normal” retirement age of 65. Whether your retirement is the fulfillment of a dream or an unwanted outcome, it usually comes with a huge question – what to do about health insurance? This article will help you understand your options, particularly if you find yourself retired before Medicare takes care of most of your health care insurance issues.
If you retire at age 65 or later you will most likely have no major health care insurance issues to worry about. That’s because Medicare enrollment will cover most of your health insurance needs. You could still face major out-of-pocket costs for non-reimbursed expenses, so supplemental insurance might be a good idea. But if you have not yet reached the magic age of 65, what are your health care options?
The Health Insurance Options
– Healthcare insurance provided by your previous employer. Traditionally this was the ideal situation, particularly if your employer paid all of most of the premiums after (more…)
Posted by John Brady on July 11th, 2011
General Retirement Issues
July 6, 2011 — The purpose of this article is to generate discussion in the Comments section about the good… and the bad things about retirement. Everyone is encouraged to contribute their thoughts about what retirement means to them, both the great stuff and the not so great. If you are not retired yet, what are your concerns and hopes? The more thoughtful comments the better, we will all be able to learn from our mutual experiences.
Your editor will start it off:
Freedom. I just love being able to act on invitations – without the guilt (more…)
Posted by John Brady on July 5th, 2011