Category: Retirement Planning
August 6, 2019 -- Perhaps the most fundamental question you face in retirement is to move or not. You might be considering retiring from the midwest, for example, to the Sunbelt. Or from the suburbs to a city or active adult community. You decision might not mean moving far; perhaps just relocating to a more age-appropriate home in the area where you live now. Whatever you decide, we think that if you are going to do a good job of retiring, you need to answer the question.
As for where to retire, that is mostly what this site is about. We've written all kinds of articles about the possibilities, with reviews of thousands of towns and communities to explore. So in this one we are going to try to answer some of the questions that might come up as you think about whether you should move or not. (Thanks to Jeanette Pavini of TheStreet.com for posing these questions we answered in an article at TheStreet.com)
Q: How should someone determine if they should stay in their current home/location to retire, or if they should consider moving?/
A: As we said up top, this is a hugely important question for retirees. The type of home you live in and where it is located can have a profound impact on your retirement lifestyle. Most people are comfortable living where they have always lived, so it is a big deal to consider moving. There is hassle, expense, and the fear and uncertainty of moving to the unknown. Your social life will be majorly affected.
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Published on August 5, 2019
Comments 59
Category: Financial and taxes in retirement
August 14, 2019 -- Some of the questions about Social Security that come up most frequently concern claiming benefits. People are confused or unsure about when they can claim, how much they will receive, spousal benefits (including those for divorced people), special filing strategies, etc. This article will go over some of those questions and, hopefully, provide helpful answers.
When can I claim Social Security retirement benefits? Most people have a pretty good idea of the answer to this question - the earliest you can claim is age 62. The longer you wait to claim, the higher your benefit, up until age 70.
What is my "Full Retirement Age" (FRA)? This is the age when you fully qualify for your Social Security benefits. For people born between 1943 and 1954 the FRA is age 66. For those born in 1955 or after, it increases two month per year until it reaches age 67 for those born in 1960 or later. Note that "Full" is not a totally logical term, since if you delay collecting your benefits past your FRA you will get higher than "full" benefits anytime up to age 70.
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Published on August 13, 2019
Comments 9
Category: Best Retirement Towns and States
August 21, 2019 -- There seems to be a never ending supply of articles touting the best and worst states to retire in. People obviously enjoy reading them. The trouble is that many of the websites publishing them have no expertise in retirement, and a result the lists they come up often have no connection to where people actually want to retire.
A good example is the recent list from Bankrate.com, which must have been overjoyed to see their picks reprinted in the New York Times and many other big media outlets. For the record, Bankrate.com is a website that promotes credit cards and loans, very similar to what wallethub.com does (but which generally produces more credible lists). Other frequent list generators are GOBankingRates.com and Smartasset.com, the latter of which is a site promoting financial advisors. Search on Google for "best places to retire" and sites like these will have prominent rankings, because it is good for their financial businesses. See the top listing in this screen capture, Homesnacks.net - anyone see their connection to retirement? (see more list companies at end)
Here is the list of Best States to retire from Bankrate.com:
NebraskaIowaMissouriSouth DakotaFloridaKentuckyKansas North CarolinaMontanaHawaii
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Published on August 20, 2019
Comments 6
Category: Health and Wellness Issues
August 21, 2019 - New research from Brigham and Women's Hospital in Boston suggests that the magical goal of 10,000 steps a day might not be the right number. The research, conducted among women aged 62 to 101, found that the quartile that averaged 4,400 steps a day had a 41% increase in longevity compared to the lowest quartile, which averaged only 2,700 steps. There were modest longevity gains in the third quartile (average of 7,500 steps), but no noticeable improvement in the 4th quartile (more than 7,500).
Courtesy of Ricardo Esquivel
The magic number of 10,000 steps appears to have little if any scientific basis. It appears to have been started by a Japanese company that manufactured a pedometer, whose Japanese name meant 10,000 steps meter in English. One thing that 10,000 steps would do for you is to get you closer to an average of 30 minutes of exercise per day, although it is not clear that would result in an improvement over a more modest amount.
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Published on August 21, 2019
Comments 18
Category: Retirement Planning
August 27, 2019 -- Seven seems to be the magic number when it comes to sacraments, dwarfs, and deadly sins. In this article we will pose our seven retirement sins - the worst mistakes you can make in retirement - the kind of error that can ruin even the most carefully thought out retirement. We hope you will add your own ideas for sins - based on your own experience.
Retire too early. Sure, many people have it in their head to retire as soon as they can. For many it is a good move, for others it is a disaster. By working longer you can save more money, have to finance fewer years with your savings, and increase your Social Security benefits. Even if you do have enough money to retire you might still not be happy. Which leads us to the next point. SEE MORE BLOG POSTS
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Published on August 26, 2019
Comments 41
