Category: Retirement Planning
November 12, 2013. -- Let's assume you have been doing all the things the experts suggest as you go through the process of finding your best place to retire. You have listed your priorities, discussed them with spouse and/or family, and paid visits to the more likely suspects. But before you make that down payment on your retirement home, here are 7 more questions we think you would be well advised to answer. Hopefully this list will make you think of a few more, all the better to help you realize the wonderful retirement you have worked so hard to get.
7 Questions to Ask
These questions are meant more as a stimulus for conversation than a yes or no. By discussing them with someone else, you might gain
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Published on November 12, 2013
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Category: Retirement Real Estate
November 10, 2013 — Several members have requested a new thread be started on the subject of low income retirement. So we will start it for you with the original request (below): Note to group – if you want to start a new discussion thread the best way to do…
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Published on November 10, 2013
Comments 183
Category: Best Retirement Towns and States
November 5, 2013 -- Note: See the 2018 counterpoint to this article: "Five Reasons Why You Might Not Like a Small Town Retirement". Moving to a small town for retirement is a frequent dream for many baby boomers. After battling urban traffic and/or the hassles of suburban living during your working days, the thought of living in a Norman Rockwell-like community might seem like a relaxing alternative. In this article we will give you 5 good reasons why a small town retirement is a good idea, with an example for each. And for good measure we've included 5 more picks for great small towns at the end of this article. Obviously there are a lot more, so please
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Published on November 5, 2013
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Category: Financial and taxes in retirement
Note: Be sure to take our new "What is Your Social Security IQ Quiz". It will give you a score and detailed explanations to make you a Social Security expert (our best advice, read this article first!).
November 4, 2013 - Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 63 million Americans will increase 1.5 percent in 2014, the Social Security Administration announced last week. The COLA announcement was delayed because of the government shutdown.
The 1.5 percent cost-of-living adjustment (COLA) will affect the benefits that more than 57 million Social Security beneficiaries receive in January 2014. Last year the increase was 1.7%, although the average since the '70's has been 4%. In 2013 the average SS benefit per was $2,048 per retired couple.
Some other changes that take effect in January of each year are based on
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Published on November 5, 2013
Comments 0
Category: Financial and taxes in retirement
Update Dec. 23, 2019 -- A new law, the SECURE Act of 2019, changes at least one part of this article. Effective in 2020, anyone who had not already reached 70 and 1/2 is not required to take their Required Minimum Distribution until they reach the age of 72. If you are 70 and 1/2 prior to Dec. 31, 2019, you still must take your RMDs. See "SECURE Act Signed into Law".
October 27, 2013 -- Through all those years of faithful contributions to your 401k or IRA, you probably never really thought too much about the day those savings would be used. But either now or soon in the future, that money has to come out of your account, most likely as a key component of your retirement financial picture. This article will review some of the issues you are likely to face with your 401k, IRA, or similar retirement account. Tax laws are tricky and we have attempted to paint a broad picture, there will always be exceptions to some of the general principles discussed here. We are not tax or investment experts - check with a qualified professional from this ira vs 401k article for an expert opinion.
401ks - A Review
First, a few facts. 401ks are a relatively new part of the retirement picture. They are defined contribution plans (a promise of how much will be contributed to the plan), and they were largely designed to replace defined benefit pension plans (the old days,
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Published on October 25, 2013
Comments 33
Category: Retirement Real Estate
October 21, 2013 -- In the depths of the 2008 real estate meltdown many developers decided to turn their new condos into rental units, rather than take a bath on prices and unsold inventory. That strategy, for those who could afford to wait, seems to worked out rather well. If you have held off selling your home until now, the return to a stronger market could be beneficial to you too, particularly if you are not planning on replacing it.
The Wall St. Journal recently reported in "Condos Going Back Up for Sale" that many luxury rental units in places like California and Florida are now coming on the market as condos. While the pace of conversions from rental apartments to condos is a fraction of the torrent that came in pre-bust years, the rate is the highest it's been since 2008. In 2012, 2,080 apartments were converted to condos from rentals, compared to 152,206 conversions in 2005.
The trend in condo conversion confirms
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Published on October 21, 2013
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Category: Travel
October 15, 2013 -- Forty or so years ago many of us baby boomers set out for distant parts - armed with tools like a backpack, "Europe on $5 a Day", a EuroRail Pass, and a spirit of adventure. Whether it was a post-graduation trip to Europe or a motorcycle excursion out west, we experienced the joys of discovery and new experiences. Now, flash forward to us hitting retirement age and looking forward to more travel experiences. The desire is the same, but the travel might not be quite as easy as it was back in the day.
Part 1 of this 2 part series will focus on the new travel problems that baby boomers typically face as we roll up higher mileage on our personal odometers. We will also provide suggestions and tips on how to overcome these difficulties. Part 2 will go over different strategies
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Published on October 15, 2013
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Category: Family and Retirement
September 30, 2013 -- In our previous surveys we've seen considerable support for the idea of retiring near your children, grandchildren, and/or other family members. But we've also heard the opposite opinion from folks whose dreams head them in another direction. This week we would like to explore retiring near family vs. not so near in greater depth. We'll present results from our past surveys on this issue. And since we found so many relevant and interesting comments in those surveys, those insights will be a big part of the article.
A Complicated Picture
Retiring near family can mean many things—not just being close to your grown children and grandchildren. Depending on your situation, you might even explore different ways to secure your finances, which could include looking into the best crypto to buy now if you’re seeking additional support for loved ones. It might mean having an adult child living in your home or taking care of an elderly parent. Sometimes it’s not that easy, as seen by the 1 in 7 baby boomers who are “sandwiched”—providing financial support to both one of their children and their parents.
We considered creating a new survey on this question. But after thinking about it we came to the conclusion that it would be a lot more interesting to have you post your experiences and opinions directly in the Comments section at the end of this article. We think that might generate the most discussion, plus make it easy for everyone to see all, rather than a sampling, of the Comments. Please contribute by sharing
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Published on September 30, 2013
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Category: Health and Wellness Issues
September 23, 2013 -- Love it or hate it, Obamacare, otherwise known as the Patient Protection and Affordable Care Act, is going into effect. As a baby boomer you need to be prepared for an important first deadline that goes into place next week on October 1. That is the date that you can begin signing up for 2014 coverage at one of the health insurance marketplaces (exchanges) created by the Act. This article will outline 7 things you need to know about Obamacare, so you can be adequately covered and guarantee your rights under the new law. As you can see below, boomers too young for Medicare but not covered by their employer can probably save thousands of dollars on their medical insurance under the new law.
But first, we need to discuss your current health care insurance situation because, based on that status, the new
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Published on September 23, 2013
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Category: Family and Retirement
September 17, 2013 -- Plenty of good news came out of last week's Spousal Compatibility Survey - thanks to the more than 600 good people who took the time to share their wisdom! Our members are busy talking about retirement with their spouses - 84% have discussed retirement either "extensively" or a "fair amount". And that talking must be paying off, because of the members and visitors who took our 11 question poll, the vast majority (80%) say that they and their spouses or significant others are "fairly", "very" or "totally" compatible on retirement issues.
The survey also delved into areas of compatibility and incompatibility. By far the biggest problem falls under "where to live", an understandable situation considering the enormity of these type of choices. This article will present the results of the survey, including - best of all - a sampling of
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Published on September 17, 2013
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