Category: Baby Boomer Retirement Issues
February 22, 2021 -- Seventy five years ago last summer GIs from America and around the world starting returning home after fighting WWII. It didn't take them long to resume normal life, where they quickly produced a wave of newborns the likes of which had never been seen before - the baby boom. Fast forward to 2021, where we are beginning to celebrate the seventy-fifth birthdays of that first crop of baby boomers. Happy birthday everybody.
We don't know what it was like in your elementary school classrooms, but in ours the impact of the baby boom was immediate and obvious. Our older sisters, created on shore leave, arrived in 1944 and 1945. Their classrooms had half the number of pupils of our 1946 born brother, and every other class after that. Our classrooms were jammed with kids.
more...
Published on February 21, 2021
Comments 10
Category: Best Retirement Towns and States
February 16, 2021 -- Last week on this Blog we posed the question, "How Much Is Enough for Retirement". So when we came across this new study on the cheapest and most expensive places to retire from NetCredit, it seemed like the perfect follow-up.
As most retirees in the US or UK are figuring out, retiring in their own country means they are going to need over half a million dollars in the bank to do it comfortably. If that sounds unreasonable, then retiring abroad might be the next best option. NetCredit's new study crunched the numbers to find out what it would cost to retire comfortably in (almost) every country around the world.
more...
Published on February 15, 2021
Comments 5
Category: Best Retirement Towns and States
February 15, 2021 — By far the two most popular states for retirement are Arizona and Florida. Choosing between them can be hard, there are so many factors to consider. Both have warm winters in most of the state, but beyond that the field is open. Many people in the…
more...
Published on February 14, 2021
Comments 0
Category: Financial and taxes in retirement
Updated June 2024 -- If there was ever a perplexing question it is this one - how much is enough for a comfortable retirement? The short answer is - more than you probably think! Many experts think most people need at least $1.5 million. According to the many experts, the average 404(k) balance of Americans is between $70,000 and $120,000 - a huge shortfall. See "Needs and Actual Retirement Savings Are Far Apart". The long answer starts with the fact that most people haven't thought enough about their own situation to come up with a reasonable answer. Once you understand how your expenses match up with your income, then you can start to know how much you need for retirement.
People tend to underestimate several key components of the expense side - like how long they will live and what their medical costs will be, and forget about unexpected expenses like replacement roofs, worn out cars and AC systems, and assistance to family members. They also tend to have a vague idea about their income sources, and overestimate how long their savings will last. Much also depends on your lifestyle - you can live within almost any budget if you match expenses to your income, although it might be hard and require lifestyle changes.
So the first thing to do when trying to calculate how much you need for retirement is get a realistic handle on your budget - matching income to expenses. Income is fairly easy for most people to calculate, while expenses are harder. The expense side of the equation can vary widely, depending on your lifestyle, which fortunately you can modify. Here is a monthly budget sheet that is very helpful in seeing what your future income and expenses will be.
Step #1: Figure Out Your budget (this applies to everyone!).
Until you have a good idea of what your retirement expenses will be and how they match up to your income, you can't really start planning. It is a critical step to head off what could be a disaster - running out of money way before you or your significant other check out of this world.
more...
Published on February 8, 2021
Comments 27
Category: Health and Wellness Issues
(Updated July, 2023) - February 5, 2021 -- Is The Villages the STD Capital of the US - fact or myth? Any time the subject of The Villages (TV) in Central Florida comes up in conversation, the chances are that you will hear someone chime in with the tidbit that the popular active community is the STD capital of the US. In many circles this bit of false news is taken as the gospel. Everyone chuckles and they move on.
Is The Villages the STD Capital of the US?
The rampant STD rumor - Is The Villages the STD capital of the US first erupted in 2006 after a gynecologist who had moved to the area stated that she’d treated more cases of herpes and human papillomavirus in The Villages than when she practiced in Miami. She later modified her account, but the damage was done. The New York Post picked up the salacious report as did other media outlets across the country. Andrew Blechman's Leisureville, which depicted Mr. Midnight's late night adventures as a senior citizen Lothario, also helped to perpetuate the image of TV as Gomorrah in Central Florida.
more...
Published on February 4, 2021
Comments 3
Category: Retirement Planning
February 2, 2020 -- Special thanks to frequent contributor Ed Lafreniere of Retirementhumor.net for suggesting this topic (one of several he made in response to our "Most Popular Articles of 2020" article). The mistakes people make in choosing a place to retire is a topic that always generates great interest. The three part series on "Retirement Mistakes People Make" we ran a few years ago resulted in hundreds of Comments. We recommend the whole series (see links at end), but today's article selects some of the most interesting and helpful comments from that series. We hope you find them useful.
Member Comments: Oh, the mistakes we made!Here is a summary of what our members think are the biggest retirement mistakes you can make when it comes to choosing a place to retire (some of the comments tell how to avoid making a mistake):
Country noise. Upon retirement a few years ago from the Wash. DC area I decided to move to a more rural area in NC for some tranquility. I was drawn to my home by the beautiful views and scenic rolling landscape. However, after being here a year now I have found there is just as much “noise” here as in the city. I call it “country noise” from farmers plowing their fields, trucks without mufflers, neighbors mowing their 10 acre lots, and aircraft flying over my home. -- Dale
more...
Published on February 1, 2021
Comments 37
Category: Active adult communities
By Larry Gavrich
January 29, 2021 -- With 3,000 social clubs, more than 30 golf clubs, 89 swimming pools and dozens of taverns, The Villages in north central Florida does not seem like the kind of place where any residents could be depressed or bored. But, according to a new documentary film called Some Kind of Heaven, there may be a thin line between heaven and hell in the famous – some might say “infamous” -- community.
The movie focuses on three subjects, two single people and a married couple, all four dealing with different personal demons. An 80-something male is the instrument of his own misery, a “vagrant” living out of his van and hanging out at the community pools hoping to find a lady who will take him home and tend to his goal of a life of leisure – all expenses paid. You likely won’t feel much sympathy for his plight; he is both cunning and conning.
more...
Published on January 29, 2021
Comments 10
Category: Best Retirement Towns and States
January 26, 2021 -- Every year we have fun rendering our opinion on the very "Best Places to Retire". This list is meant to highlight retirement towns that represent exceptionally great places to retire. But it is important to remember, any place where you can be happy in retirement, that is the best place - for you!
To develop this list we consulted our previous reports of the 20 Best Retirement Towns in three of the major U.S. retirement regions. But the primary consideration was visitor and Member interest at Topretirements.com - the cities that generated the most interest from January to December on this site were the winners. The big news is that several of the towns generating top places on this list had never placed so high. Arizona garnered the top two places on this list, joining Florida and New Mexico who also had two winners. Congratulations to all!
10 Best of the Best Places to Retire
Popularity on this site, as measured by online visits by our Members,was the most important criteria. On that basis, here are the best of the best places to retire in all of the U.S.
more...
Published on January 26, 2021
Comments 24
Category: Health and Wellness Issues
January 23 -- Outrage over media reports of Canadians and other foreigners paying big dollars for charter flights to Miami for coronavirus vaccine shots generated understandable blowback. Reacting, Florida Gov. DeSantis took steps to eliminate this form of medical tourism this week. While that made most residents happier, Florida's many snowbirds became concerned that the new rules might effectively shut them out of getting inoculated. Fortunately the new rules for snowbirds and other seasonal visitors have been clarified, and most should be eligible for a shot (if they can get an appointment!)
Playing politics?
Elsewhere, there is concern that groups with close ties to the Governor, who is touting his decision to prioritize residents age 65+ over essential workers, are getting priority access to the vaccine. Residents in communities like The Villages were quick to an allocation, while almost everyone in Century Village and Kings Point has had a chance to get their shots by now. Meanwhile, millions of other FL residents not so well connected are stymied by non-existent web sites, lengthy queues, and fragmentary information. This has led to speculation that the Governor or his staff is steering vaccines to organizations he has ties to. Speculation has also arisen over the Publix supermarket chain's donation of $100,000 to the Governor's political campaign. The chain has since become a major source of Covid 19 vaccines administered in the state. The Governor's office has denied any connection, according to WUSF Public Media.
Who is Eligible for the Vaccine in Florida?
Eligibility for non-Florida residents starts with being able to prove that they reside in the state for at least 31 consecutive days. Then they have to scramble to come up with two other types of documents. The first document might be easy to come by, but the second could involve more effort.
more...
Published on January 23, 2021
Comments 24
Category: Health and Wellness Issues
January 23, 2020 — The Centers for Medicare & Medicaid Services (CMS) issued a final rule that will allow enrollees to know in advance and compare their out-of-pocket payments for different prescription drugs. The changes are generally effective for the 2022 plan year and will potentially lower enrollee cost sharing…
more...
Published on January 22, 2021
Comments 0
