Category: Downsizing
August 6, 2018 -- In addition to death and taxes, you can add one more to the list of things you can't avoid. Whether you call it decluttering, ridding out, or downsizing - the job has to be done, sooner or later. Sooner.... if you plan on moving to a different home in retirement. Later... even if you die without emptying out your basement, attic, garage, overflowing closets, and countless drawers - your children or heirs are going to have the thankless task of getting rid of everything you managed to hoard all these years. And the job is even harder if you plan on moving to a tiny home, boat, or RV.
Last year we surveyed our Members to find out how they are doing at downsizing. The answer is
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Published on August 5, 2018
Comments 15
Category: Financial and taxes in retirement
August 7, 2018 -- Since 1991 older Americans have experienced a three-fold increase in the rate they file for bankruptcy. From February 2013 to November 2016, there were 3.6 bankruptcy filers per 1,000 people 65 to 74; that rate was only 1.2 in 1991. Today one in seven bankruptcy filers is of retirement age, 65 years or over.
Causes
The problem is that there are so many causes, and many times it is a combination of problems that sinks the ship. Leading the list of causes is increased spending on medical care. As we age it gets worse: while folks 65-74 spend 34% of their Social Security income on medical expenses alone, that rate goes to 74% among
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Published on August 6, 2018
Comments 11
Category: Retirement Real Estate
August 11, 2018 -- For most of human history the most common housing model was for multi-generations to live under the same roof. In a typical scenario a widowed grandfather or grandmother would be living in a home with one of their married children, along with the children of that union. The generations chipped in to support the others - whether it was cooking, childcare, or financial - and typically enjoyed the benefit of living close together. The phenomenon became much less common in the 20th century. The advent of Social Security and financial independence of the elderly was probably one reason, and as nursing homes and assisted living became more common,
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Published on August 11, 2018
Comments 5
Category: Best Retirement Towns and States
August 14, 2018 – Although a lot of Americans contemplating retirement might not know their best town for retirement, they probably do have a pretty good idea of the region where that place might be. So this year our 2018 list of America's best places to retire will take a different tack - we will provide a list of the 20 towns in each of the 5 major U.S. regions that attract the most attention from our Members and visitors. This is the first installment, focusing on the American Southwest, a very popular place to retire, particularly among folks who live close to or west of the Mississippi. The second installment lists the 20 Most Popular Places to Retire in the West (California to Colorado and points north).
The 20 most popular towns in the Southwest are almost all recognizable. Three of them: Green Valley, Prescott, and Flagstaff - all of them in Arizona - are among the top 10 towns on our U.S. list. And Green Valley, a sprawling area south of Tucson near the border with Mexico, is the #1 most population retirement destination at Topretirements, both in the Southwest and the U.S. Green Valley covers a vast area with all kinds of communities and developments - in fact it has 59 different homeowner associations. Retirees like its relatively low cost of living, warm winter climate, the nearby Santa Rita Mountains, and the extensive non-profit Green Valley recreation complex.
Mountains near Green Valley
In gaining the #1 spot on our list, Green Valley was viewed over 10,000 times
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Published on August 13, 2018
Comments 10
Category: Active adult communities
August 20, 2018 -- It wasn't like Mary Walsh and Beverly Nance hadn't done their homework. They had visited Friendship Village Sunset Hills, a Continuing Care Retirement Community (CCRC) in St. Louis, MO many times. They had dinner with friends who lived there. They especially liked the continuum of care offered by a CCRC, and the ability to age in place no matter what the future might bring. The people they met seemed friendly and they both felt comfortable; this was the ideal place for their retirement. Soon they had negotiated a deal on a $235,000 two bedroom apartment, and put down a small deposit.
Then the trouble started. Management of this faith-based, non-denominational
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Published on August 19, 2018
Comments 4
Category: Financial and taxes in retirement
Aug. 21 2018 -- Fortunate retirees, those with a good amount of retirement savings, agonize over a perplexing problem: how much can you safely take out of your retirement funds? Spend those hard earned savings too fast and, if you live too long, live in poverty. Hold on too tightly, and you will go on to your greater reward with a big pile of unspent money in the bank. Your heirs will be able to fly first class, even if you didn't!
The traditional rule of thumb for spending is the 4% rule. Originally popularized by Bill Bengen in 1994, the idea was pretty simple - you have pretty good odds of spending of not running out of money if you take out 4% of your savings every year of retirement. The theory
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Published on August 20, 2018
Comments 32
Category: Best Retirement Towns and States
August 28, 2018 – When it comes to the best places to retire the American West, a huge area comprising 9 states, has a lot to offer. From coastal California to the Pacific Northwest to the gorgeous mountain states, there is something for everybody. This installment of our "Best Places to Retire 2018" provides the top 20 most popular retirement towns in the U.S. West. Here is a link to the first, "The Top 20 Places to Retire in the Southwest".
What States are in the West?
The National Geographic Society includes nine states in the American West, a huge territory. Those are Washington, Oregon, California, Utah, Nevada, Colorado, Idaho, Montana, and Wyoming. With the exception of the coastal Northwest, most of this region is dry with hot summers. It includes contains portions of the Rockies and other big mountain ranges like the Tetons. Most of the region has low humidity. For more information about what it is like to retire in the West see our "Dueling Retirement States" series: Dueling Retirement States: The Pacific Northwest, and
Dueling Retirement States: The Western Mountain States
Surprises ahead
The 20 most popular towns in the West contain some surprises, including a few not familiar to many. The surprising #1 most popular place to retire on our list, St. George, Utah edged out many more well known towns and cities. Obviously the word is out that the retirement there in the southwestern corner of Utah has many advantages. Viewed over 3,500 visitors viewed our review
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Published on August 27, 2018
Comments 38
Category: Travel
August 29, 2018 -- Key West is a great place to go on vacation, or better yet, retire. Certainly your Topretirements editor enjoys the latter. One of its attractions is its multiple heritages coming from being an island far from the mainland. It was only accessible by boat until 1912, when the Overseas Railroad from Miami was completed (the Overseas Highway opened all the way in 1938). Closer to Cuba than Miami, the island has also had close ties with and many residents from that island nation.
That brings us to a new book that provides an interesting armchair tour of the Key West vibe, along with a good yarn that ties in to the Cuban heritage. Lucy's Burdette's newest novel, Death on the Menu, the 8th in her Key West Food Critic mystery series, has just been published by Crooked Lane Books. In it Hayley Snow is thrilled to be working at a three-day international conference at the Harry S. Truman Little White House (one of Key West's (paid link)
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Published on August 29, 2018
Comments 0
Category: Estate Planning
August 30, 2018 - Is your estate planning goal to maximize the amount of money you give to the IRS, give probate attorneys a huge cut of your assets, leave nothing to your favorite charities, and pit your relatives against each other in family destroying battles over money and possessions? If those are your goals, achieving it is easy, just die without a will.
We will all miss Aretha Franklin. Her music lives on, but one thing her heirs will miss, besides the Queen of Soul, is a will. Reportedly, like Prince, she did not leave a last will and testament. Some people never get around to a will because they don't want to take the time, or possibly admit their mortality. Others dither because they can't make
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Published on August 29, 2018
Comments 0
