Category: Retirement Planning
By Betty Fitterman
Note: This is Part 2 of a series. Part 1 is "Retirement Reality Check"
September 18, 2012 --- Now I don’t want to scare you, but whatever you have saved for retirement, it probably won’t be enough. That’s the opinion of the New York Times, anyway, and I’m here to tell you that I agree.
When I was a little girl, I never thought I’d be a millionaire. Millionaires were rich, for heaven’s sake, and I never thought I’d be rich. Some 50 years after that insight, I was indeed a millionaire, so how come I felt so poor? Too poor to retire, anyway, given that the economy was tanking and some of my friends had many times the
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Published on September 18, 2012
Comments 21
Category: Retirement Planning
Sept. 17, 2012 -- The fun thing about this series of member surveys on retirement is that the results never come out exactly like we predict. Our most recent one, "The Best and Worst Things About Your Retirement" is no different. Its most pleasant surprise: the runaway worst thing about retirement is... "Nothing"! That makes us happy that so many of you are enjoying your retirements. Equally interesting were the hundreds of write-in comments provided by our members, full of insights about the best and the worst aspects of retirement planning. One typical example of a planning tip: "Find meaningful activity you absolutely adore doing and develop a circle of uplifting friends".
But we need to start by thanking the more than 250 members/subscribers who took a few minutes to answer our most recent 8 questions. Without your input, these incredible retirement insights wouldn't have happened - thanks! And to you who are coasting along on this input from your fellow members - next time
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Published on September 17, 2012
Comments 50
Category: Retirement Planning
September 11, 2012 — Our surveys have produced some absolutely wonderful suggestions for future surveys. The most support came for this one – What is the best…and the worst.. thing about your retirement. We extended the idea a bit to include questions about retirement preparation as well as actual retirement.
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Published on September 11, 2012
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Category: Financial and taxes in retirement
September 10, 2012 -- With all the discussion going on about the poor state of most retirees' financial preparation for retirement, it seems like this might be a good opportunity to talk about financial risks in retirement. While we are not financial professionals, we have surveyed the literature to prepare this list for your consideration. While you probably are aware all of these risks, it is always worth considering how they might apply to you one more time.
Background
Data from the Federal Reserve’s 2010 Survey of Consumer Finances found that the typical U.S. household between ages 55 and 64 held just over $45,000 in their tax-exempt retirement plans in 2004. In 2010, after the biggest financial crisis in U.S. history, these plans held only $42,000 (this figure is for all Americans, including folks not in an employer-sponsored savings program). Households headed by a baby boomer age 60 to 62 with a 401(k) plan was more - $149,400 – but not even twice their median annual income of $87,700, according to Boston College’s Center for Retirement Research.
The Big One
The chief financial problem in retirement stems from
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Published on September 10, 2012
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Category: Best Retirement Towns and States
September 4, 2012 -- Weather and climate are important considerations for most people when they think about where they might retire. For some folks, as we have learned, humidity is a four letter word. Winter cold is a scourge for many, while others feel the same way about dust and allergens. Other weather considerations are rain, hurricanes, tornadoes, floods, lightning, ice storms, snow, number of days of sunshine. Not exactly weather related, but earthquakes are an issue to worry about too. This short article will provide you with some resources to research the weather wherever you might be considering retiring, so you can make the best
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Published on September 4, 2012
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Category: Family and Retirement
By Shannon Keating, Assistant Editor
September 4, 2012 - I’m a college senior, the oldest in my family of five, and I am lucky enough to have something number of friends do not: a deep and lasting relationship with my grandparents.
Retirement is a new stage of life. Your new lifestyle might be an opportunity to spend more time with your grandchildren, or, particularly if you move far away, it could be a challenge for the relationship. Either way, it is up to you to seize the opportunity if you want a stronger connection with your grandchildren (or niece/nephew/godchild), whether they are toddlers or twenty-year-olds like me.
Not to say that there aren't barriers aplenty. In addition to new
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Published on September 4, 2012
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Category: Downsizing
August 27, 2012 -- Downsizing from your big house in the suburbs could be one the smartest retirement decisions you make. Assuming your children are grown and out of the house, there is usually not much logic in having all of those extra bedrooms to heat, maintain, clean, insure, and pay taxes on. Generally you can sell that big home and use the proceeds to buy an easily maintained and energy efficient smaller home or condo, and still have a considerable sum left over to add to your retirement income. Not to mention
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Published on August 27, 2012
Comments 82
Category: Adventurous retirement
August 21, 2012 -- You name the activity - from skydiving to learning how to play chess - there is somebody from the Topretirements.com community who wants to do it in their retirement. Ditto for travel - From cruising to Antarctica to taking a train ride across Canada or Europe.
The results are in from last week's poll, with 215 people taking the time to share part or all of their bucket lists with us. We are so excited about your plans - what you folks are planning on doing couldn't be more interesting!
Here in this article we will share
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Published on August 21, 2012
Comments 16
Category: Retirement Planning
August 20, 2012 -- As we increasingly find out, members and visitors at Topretirements are not typical retirees (actual or future) by any means. Last week's 5 question poll made it clear that you are more prepared to retire, have better resources, and are much more willing to relocate in your retirement than comparable baby boomers nationwide.
The response to our poll was once again fantastic, with almost 400 people taking the time to respond. Your input is incredibly helpful in understanding your retirement concerns and hopes - thanks! This post will provide an analysis of what we learned.
1. What are your top concerns about retirement?
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Published on August 20, 2012
Comments 12
Category: Best Retirement Towns and States
August 14, 2012 -- We're as guilty as any other website - we just loving creating "Best of" lists about various aspects of retirement. And occasionally we like to poke fun at some of the "best" lists other groups come up with. But this past week saw a new list on the "Best Cities for Successful Aging" that is so fact based that it is hard to criticize. The Milken Institute, a West Coast think tank, has provided by far the most carefully researched and multi-dimensional study we have seen.
The Milken Institute came up with 2 different lists for its Best Cities for Successful Aging Index - Best Large Metros and Best Small Metros. There are 100 "best" metros on each. To develop the lists Milken sorted the Metros on 8 major
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Published on August 14, 2012
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