March 26, 2022 — Signing up for Medicare presents a lot of anxiety for most people. When do you have to apply, how do you do that, what does it cost, what is covered, and what’s with all those different parts (Parts A, B, C, D, and more)? But one of the most vexing questions comes for people who hit age 65 and are still employed. What happens if they have health insurance from either their job or a spouse’s employer? We will try to explain how to negotiate these questions in this article.
The easiest way to explain it is by looking at coverage by the various Medicare Parts.
Posted by Admin on March 26th, 2022
Financial and taxes in retirement
March 23, 2022 – A worrying study by the University of Michigan’s Retirement and Disability Research Center found that many workers tend to overestimate how much they will receive in Social Security retirement benefits. That is concerning because that overconfidence has a negative impact on how much people save getting ready for retirement. About half of the survey takers noted that they wished they had done a better job of planning. Note that about half of Social Security recipients rely on it for at least half of their income. The average Social Security retirement benefit in 2022 is $1658 monthly. The maximum is $4194 (for someone who takes it at age 70).
Among the findings in the study:
Posted by Admin on March 22nd, 2022
Active adult communities
March 21, 2022 – A while back we heard from one of our Members, Debby, who asked about apartment living. She wondered why we don’t ever write anything for people who want to retire in an apartment. She has always lived in that type of housing, and being a single senior, doesn’t want a house now either.
In particular she would love “a senior community of apartments that is gated and has washer/dryers in the apartment, plus an attached garage. She is not particularly interested in other amenities that she won’t ever use. She lives in Scottsdale, AZ now, but apartment prices have gone up so much!”
We are sure that Debby is not alone in seeking apartment life. Although we assume she is interested in rentals, many other apartments are owned as condos. The good news is that there are many communities that provide apartments suitable for baby boomers. Using Advanced Search for Communities at Topretirements, we came up with almost 1,000 apartment communities across the U.S. in our database. That list can be made more selective by choosing parameters like expense (if we delete higher cost the list goes down to 775). Other amenities might include covered garages, swimming pools, fitness centers etc. Using a state parameter narrows it even further; e.g., choosing only Arizona results in a list of 43 (we will explore some of those choices later in this article).
Posted by Admin on March 21st, 2022
Best Retirement Towns and States
March 15, 2022 — Everybody looking for a place to retire probably has a list of must-haves. Today we explore possibilities for a hypothetical couple that has the three priorities listed in our headline – sandy beaches, lots of culture, and hassle-free biking. They also have a fourth consideration, having a nearby airport with good connections. Both people in this couple had average working careers, and now collect the average (2021) Social Security benefit of $1,555 each month. Adding income from their retirement savings, they have a combined income of just over $4,500 per month.
Posted by Admin on March 14th, 2022
Active adult communities
March 10, 2022 – In a move that is sure to be controversial, a softball commissioner at the Del Webb Village at Deaton Creek has banned Linda Evans, a female, from participating on a men’s softball team at that community. Ms. Evans, 70 years young, is an experienced player, whose coach said of her: “She can play.”
The active community in Hoschton, GA has one softball league with 7 teams. There is no women’s team or league. The commissioner banned Evans from playing in games or participating in practice, saying that it was a “men’s only league”. A poll of the players reportedly found that a majority did not women playing in the league. However, the community’s ownership bylaws say “membership in any Chartered Club must be open to all bona fide members of the association without discrimination as to race, religion, color, sex, ethnic culture or national heritage.”
Not an uncommon problem
The problem of inclusion of the sexes has long existed. Private country clubs have excluded women from membership. Some active communities provide access to facilities slanted towards men (such as the earliest tee times), or have mens-only grills. How communities maintain fairness can be a struggle that often pits one group against another, and even results in lawsuits.
Comments? What do you think, should communities have the right to have single gender teams, activities, and facilities? Or should men or women be able to mix together, based on ability or other qualifications. Please share your thoughts and experiences from your community in the Comments section below.
Posted by Admin on March 10th, 2022