Category: Financial and taxes in retirement
April 3, 2022 — For many people entering retirement, the holy grail is to find a state where their hard earned money won’t get taxed. When it comes to the 8 states that have no income tax, that's easy: nothing will be taxed at the state level: not Social Security, pensions from any source, distributions from 401(k)s and IRAs, or interest, dividends, and capital gains.
But of the remaining 43 states and District of Columbia, a complex patchwork exists. Each state seems to have a unique approach to taxation, levying taxes on some of these items completely or partially, while exempting others. Finding out which states tax what can be confusing, made more difficult because every retiree brings a different package of earning sources to the party. Because the states frequently change what is taxed and what is exempt, it is best to check state websites and or your accountant before basing any decision on this information, which should be used as a survey rather than a definitive guide.
8 states with no income tax
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Published on April 2, 2022
Comments 16
Category: Family and Retirement
April 7, 2022 - A few weeks ago I attended a concert by Ellis Delaney, a folk singer and songwriter with a lovely voice and inspiring lyrics. “You’re Royalty to Me” is one of her best songs, in my opinion. It is a tribute to her grandmother, her main source of support growing up. Ellis spoke about the great times they had together, playing cards and enjoying each other’s company, and most of all experiencing unconditional love. The song’s message gave me goosebumps, particularly from this line: “I am who I am because I was loved by a queen”. You can read the beautiful lyrics to the song here.
Wow, that song seemed like a direct message about our potential as grandparents. Sure, savoring the joy these kids bring to life can be pretty great. But this song is a message that grandparenting is bigger than just enjoying them. To me, it shows that if we can be a reliable source of unconditional love and support, we might make a difference in their lives, just like Ellis’s grandma did. That extends to supporting the parents, who face incredible pressures in trying to raise children in this age, even before Covid.
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Published on April 6, 2022
Comments 6
Category: Adventurous retirement
April 13, 2022 -- People often say that the most memorable things in our lives are our experiences, and we believe that is really true. You have worked hard to earn your retirement, so why make it really special with some once in a lifetime experiences. Here are 10 fantastic ideas for adventurous things to do in retirement - and we bet you could come up with even more.
10 once in a lifetime adventures:
Hike on the Camino de Santiago or some other famous trail. One of the best is the Camino de Santiago in Spain and France. You hike along a path that pilgrims of St. James have been taking for centuries and stay in inns along the way. You can hike one of its many routes or just a part of one. Or, hike a section of the Appalachian Trail, which runs from Georgia to Maine, or another famous trail in England or Ireland.
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Published on April 12, 2022
Comments 17
Category: Social Security
April 14, 2022 — As anyone who reads this Blog regularly knows, Topretirements is a big fan of waiting as long as you can before you start to collect Social Security. But that is not to say there aren’t many good reasons to take it early, or at least not…
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Published on April 13, 2022
Comments 23
Category: Best Retirement Towns and States
April 20, 2022 -- Highways are filling up with snowbirds headed north right now. Those trips provide the perfect excuse for exploring the many wonderful East Coast towns along the way. Here are 10 towns that we think are definitely worth a detour, either for a night in a B and B, or a leisurely lunch to break up the drive. In this installment we will concentrate on charming or interesting towns near the coast. But if your trip takes you along the western route, see our 2 part series on great retirement towns along that route through western Virginia, the Carolinas, and Georgia.
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Published on April 19, 2022
Comments 7
Category: Active adult communities
April 22, 2022 -- Journalists looking for a good story hit the jackpot any time they check out The Villages, the giant retirement community in north Central Florida. The community has all the elements needed to fascinate readers: high stakes politics, real estate machinations, Viagra fueled Lotharios, and the latest - voter fraud. Let's take a look at what's been happening in this community that stretches over 3 counties with some 60,000 (and growing) households.
Books, Magazines, and Movies
Starting with Andrew Blechman's Leisureville in 2009, The Villages gained a certain notoriety. Blechman's youthful vantage point might have made him a little too cynical, but he did produce a good read. His account of Mr. Midnight, a boomer aged Lothario cruising for action among the community's many single women, was highly provocative and one of the most entertaining parts of the book. He poked a lot of fun elsewhere too, although it actually might have encouraged other baby boomers to move there for the non-stop activities and socialization. Then there is The NY Times version of TV life, published in this March feature: The Disney for Boomers Puts Hedonism on Full Display.
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Published on April 21, 2022
Comments 10
Category: Financial and taxes in retirement
April 27, 2022 -- Of all the current demographic generations, Gen X is the one most worried about its retirement, according to a research study from the SOA Research Institute. They are the folks born between 1965 and 1980, and are the next demographic group to start retiring. Gen X came immediately after baby boomers (1946-1964), but before Gen Y/Millennials (1981-1996), and then Gen Z. Gen Xers are currently between the ages of 42 and 57.
The SOA study researched a number of questions about their retirement preparation and feelings about financial security.
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Published on April 25, 2022
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