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Try It NOWCategory: Social Security
March 29, 2025 — Social Security’s future has long been discussed, usually with a negative picture. The Trust Funds are running out because more in benefits is being paid out than is contributed by workers. The latest estimate is that the retirement portion of SSA Trust Funds will be depleted…
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Category: Best Retirement Towns and States
March 25, 2025 -- It usually starts with a weekend or vacation home in the mountains or a peaceful lake. As the years go by, the appeal of living there full time grows ever more strong. So when it comes time to retire, the direction seems clear - let's go rural for your senior years. This article will explore the pros and cons of retiring in a rural environment, then you can make up your own mind.
What is a rural retirement
For our purposes here we will consider a rural retirement as any place that is outside of a city, town, or suburb. Somewhere where there are plenty of open spaces, be it in the country, mountains, or on a river or lake. There are degrees of ruralness of course. Plenty of rural environments are an easy drive to a town or city. And then there are those that are truly out there - hours from a hospital, medical offices, and big box stores - sometimes along difficult roads.
On the plus side
Living in the country appeals to a certain kind of person. They value their independence and generally seek a quieter life. Here are some of the things they are looking for:
Peace and quiet. People who retire in the country cite the peace and quiet that comes from living far away from the hubbub.
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Category: Financial and taxes in retirement
March 21, 2025 — Finding a tax-friendly location to retire is very important for a significant percentage of retirees. High income individuals often find a state with no income or sales tax very attractive. But other taxes, like those on property or pension and Social Security, can be very important considerations, and should not be overlooked. LIkewise, if your retirement income is low, state income taxes will be a minor consideration.
Just because a state has no income tax doesn't mean that it might be the best one for your tax situation. Some states, for example, offer generous tax exemptions for military retirees or public servants, making them equally attractive. Others tax other kinds of income like pensions in very friendly ways. Some have generous deductions based on your age. Considerations like your desired lifestyle, where your family and friends live, or a climate where you can pursue your favorite activities, might be a lot more important to your retirement happiness than saving a few dollars on taxes. States like Texas tend to have high property taxes, which can neutralize its not having an income tax.
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Category: Social Security
March 12, 2025 — The 68.6 million Americans who receive Social Security retirement benefits have an obvious interest in its future. It is especially important for the half of Americans aged 65 or older who live in households where Social Security benefits account for at least 50% of their family income. Roughly 25% rely on these benefits for at least 90% of their income. Any cuts to Social Security will severely affect those folks, and in fact, almost anyone who gets those benefits.
Despite promises not to impact Social Security, the “third rail” of politics, signals from the new administration are not encouraging. DODGE czar Elon Musk, who is busily applying his chain saw to U.S. institutions, told Podcast Host Joe Rogan last week that Social Security is “the biggest Ponzi scheme of all time". SSA Commissioner Dudek said he plans to cut at least 7,000 employees, even though at 60,000, its staff is at a 50 year low. Plans are afoot to close at least 47 regional offices, with many concentrated in the South and across the Southeast. Some of those were already slated for closure due to lack of in-person visits, but most were not.
Critics of the Administration counter that it is difficult to see how slashing employees and local offices is going to lead to anything but longer waits and delays in getting benefits and customer service. According to Democratic Sen. Kirsten Gillibrand of New York, the White Plains hearing office in her state has 2,000 pending cases. If closed, she believes that beneficiaries will be required to travel between 24 and 135 miles to get to another office if it closes.
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Category: Active adult communities
March 10, 2025 — The 2021 Surfside Towers collapse near Miami killed 98 people and injured many more. The Florida legislature’s response was swift and strict. Now, as those laws go into effect, backlash from the hardships they created is leading to efforts to soften the regs.
Already burdened by exploding insurance premiums, condo owners now also face huge assessments to catch up on their new reserve requirements. Added to those woes, newly required building inspections have discovered costly building repairs that need to be made. All of these combined factors have led to special assessments and/or significant dues increases. The result is a spate of homeowners who are unable to pay. Many have no choice but sell and and then find a new, more affordable place to spend the remainder of their retirement years.
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Category: Active adult communities
March 5, 2025 -- There are a whole lot of people longing to retire in the Western half of the US. For those folks, the appeal of the sunshine, mountains, beaches, deserts, and outdoor life is strong. So to find out what kinds of communities they are interested in out there, we looked at our user logs to see which active adult communities in the West get visited the most at Topretirements. com. This data gives some insight into what type of communities, and their location, that have the most retirement appeal.
Results by StateThis was not what we expected. The state with the most communities on our top 10 list is Washington, which had 3. Arizona and Texas had 2 each, followed by Utah, California, and Colorado with 1 apiece. Frankly, we thought Arizona and Colorado would top the list, but not so.
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Category: Retirement Real Estate
March 1, 2025 — It looks like the messages of doom for Florida real estate might actually be starting to come, according to the real estate firm Redfin. The number of homes for sale in Florida hit 172,209 at the end of January (up 22.7%). This is the highest number…
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Category: Active adult communities
February 25, 2024 -- Following up on our recent article about the issues that Keep HOA Boards of Directors up at night, here is the other side - the things that HOAs do that drive home owners crazy.
Homeowners often have love-hate relationships with their Homeowners Associations (HOAs), but here are the most common complaints and frustrations:
1. Excessive Fees & Increases
Many homeowners feel that HOA dues are too high or increase too frequently without justification.
Special assessments for unexpected expenses can be a financial burden.
With proper planning and budgeting, most assessments should be unnecessary.
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Category: Social Security
The range of possible retirement benefits from Social Security is huge. As of 2025, the average monthly Social Security retirement benefit is $1,976, reflecting a 2.5% Cost-of-Living Adjustment (COLA) from the previous year. But some people get less, based on their lifetime earning history and at what age they started taking their benefits. How does your benefit (or expected benefit) stack up against that average - are you getting more, or less?
Minimum - Average - and Maximum Benefits
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Category: Best Retirement Towns and States
February 13, 2025 -- Good news is coming to 8 states this year when it comes to income taxes. It is part of a trend to lower taxes, make themselves more competitive, and enjoy the surpluses many of them experienced from the Covid years. Others, though, are concerned that the lower taxes will result in the cutting of public services. Seven of the 8 states that lowered their rates are controlled by Republicans.
Most of the reductions were relatively minor, usually less than a half a percentage point. Two of the states have moved to a flat tax instead of income brackets.
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