Category: Health and Wellness Issues
January 3, 2023 - Tom Brady, QB of the Tampa Bay Buccaneers (or cousin Tom as we call him in our family), is 45.5 years old, having a pretty darn good season, with his team atop the NFC South standings. By all historical measures, he is a freak, performing as well or better than his peers who are 10 and 20 years younger. But he is not the only "older" person who is breaking records in a younger person's field. How about you, are you still going strong in some vocation or avocation, astounding your peers with your ability to hang in there?
The NY TImes just profiled a group of senior aged citizens who are doing great in some physically and mentally demanding jobs. They wrote about Jesse Izaguirre - a paramedic who is 70, an 84 year old NYC City tour guide, a doctor who is 85, and a 95 year old artist, among others. Earl Pollock, who at 82 is still in the logging business, summed it up this way: “I keep the job on my mind 24/7, I guess I’ll stay till I can’t get up in the morning." The Times used Census Data to help identify these outstanding specimens of tenacity.
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Published on January 2, 2023
Comments 9
Category: Real Estate Listings
January 3, 2022 -- As if the death and destruction that Hurricane Ian brought to Florida's Gulf Coast wasn't bad enough, it has created another looming problem for beleaguered property owners. Greedy developers and wealthy buyers are headed to the region, hoping to snap up coastal real estate to turn into expensive projects. By assembling bigger parcels in Fort Myers and Lee County from owners who are fed up or don't have the cash to rebuild, they can build huge single family homes and towering condos. Local residents are concerned that these will block access and views across these barrier islands.
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Published on January 4, 2023
Comments 6
Category: Health and Wellness Issues
January 8, 2023 -- We got some great followup on our October article about the Shedders Movement. Shedders refers to guys (and gals) getting together in retirement to hang out and work on all kinds of projects (often in a shed). This particular input comes from my wife's cousin, Steve, from Batavia, IL. Hopefully it will give other retirees some ideas on how they can create their own projects and groups to have fun, stay busy, and socialize - so hard for many men once they retire. Thanks Steve!
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Published on January 7, 2023
Comments 0
Category: Medicare
By Tom Cretella - CLU at Cretella and Belowsky
January 9, 2023 -- Medicare's Open Enrollment Period began January 1. Medicare has plenty of acronyms: AEP, SEP, IEP - but the least used is the OEP or Open Enrollment Period. The OEP is a completely separate enrollment period running each year from January 1 to March 31. It only applies to people who already have a Medical Advantage plan or or other type of Prescription Drug plan.
The Medicare Annual Enrollment Period (AEP) just ended December 7 for 2023 enrollments. Although most people have renewed current coverage with the same carrier as 2022, the OEP offers a second chance to enroll or disenroll. It comes in handy because we have all endured the blitz of Medicare advertisements in the mail and in all media (BTW, congratulations you survived!) This always brings a challenge because the advertising is aimed at creating doubt, questioning your current coverage, or making you wonder if you should consider a change. Most of the questions I get are from clients or friends who wonder if they are missing something in their current coverage, after being hammered by advertisement during the AEP.
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Published on January 8, 2023
Comments 3
Category: Snowbirds
January 11, 2022 -- Millions of American retirees follow the example of their avian friends - they head south to snowbird when winter temperatures cool. Not all of them fly of course, about three times more drive than fly, and some take the Autotrain. According to a 2018 Topretirements survey of snowbird preferences, almost 60% said they are either "Extremely Likely" or "Likely" to be a snowbird in retirement. So if you are one of those who plans on going south for part of the winter, don't make these snowbirding mistakes.
Not reserving early enough. This is the starting impediment to becoming a snowbird. The best spots are usually reserved by current renters before they leave in the spring. So if you wait until late in the calendar year before you book, choices will be limited and prices higher.
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Published on January 10, 2023
Comments 4
Category: Adventurous retirement
Editor's note: Bill has been kind enough to write for Topretirements on other topics in the past, including the fascinating tale of his "Cleaning Out a Cluttered Victorian". This installment shares his adventures and lessons learned from driving his new all electric car all the way from Portland, Maine, to Key West, Florida . We think you will find it instructive, particularly if you, like your Editor, are considering buying an electric vehicle!
By Bill Carito
January 15, 2023. This past August, we took a leap of faith in the future and bought an all-electric Volkswagen Id.4 to replace our 2018 VW Tiguan. Why an all-electric? Why not a hybrid? After all, we are a one car family that would not be using this car solely for running errands around town, but also for our 15-18,000 miles per year traveling to see family and for our vacations, including our three-month stay in Key West, Florida.
Frankly? Some of it was about supporting new technology; some of it was a sense of now or never. But, for me, a big incentive was losing the internal combustion engine and all its complications. I’m sure this new tech will have its issues, but I’m going to trust that fewer moving parts means fewer potential mechanical problems.
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Published on January 14, 2023
Comments 14
Category: Health and Wellness Issues
January 29, 2023 -- If there was ever a good example of the phrase "Use it or lose it", it would be how flexible you are. You might not do that great on this simple 5 part flexibility test, but the good news is that if you work at it, you can get better. So you can look over your shoulder to see oncoming cars better, bend over to tie your shoes, walk a little faster, improve your balance, and maybe even get a little more zip on your pickleball overheads. Flexibility can also help with sleep and an overall better quality of life.
The NY Times interviewed experts in physical therapy to come up with its "Can You Pass This Flexibility Test" article. The tests are easy and quick, and will give you an idea of your flexibility and range of motion.
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Published on January 15, 2023
Comments 6
Category: Best Retirement Towns and States
January 17, 2023 -- The search for a safe place to retire is challenging, as the community of Rio Verde Hills just found out. Up until recently, it received its water from neighboring Scottsdale. But due to concerns that it wouldn't have enough water for its own residents, Scottsdale cut off the water it was supplying to Rio Verde Hills on Dec. 31. Residents there are understandably upset, as they now have to pay for water to be trucked in from increasingly farther away. Not only are water bills escalating fast, but residents are concerned about their ability to keep animals, along with having to reduce all but the most essential water use.
Is any place to retire safe?
The Rio Verde story makes it even clear that almost every area of the country faces serious climate and environmental risks. While Florida residents have plenty to worry about with coastal flooding and hurricanes, water shortages and wildfires are equally dire threats in the American West. The Midwest faces extreme weather like tornadoes, the West has earthquakes, and the Midwest and Northeast have ice and snow storms, not to mention flooding. Almost everywhere is experiencing record high temperatures and weather extremes. If that wasn't enough, other areas of the country have sinkholes and volcanoes. It seems like nowhere is safe!
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Published on January 16, 2023
Comments 4
Category: Financial and taxes in retirement
January 20, 2023 -- The end of the year presented several gifts to well off folks with substantial IRA, 401(k), or 403(b) balances. The biggest is that, thanks to the Secure 2.0 Act of 2022, the new age for taking Required Minimum Distributions (RMDs) from those accounts now begins at age 73, up from 72. That change started on Jan. 1, 2023; beginning on Jan. 1, 2033, the age goes up to 75. People who were already required to take those distributions must continue to make them.
The Act also provided a big benefit to people who fail to take their RMDs on time. Previously the penalty was an onerous 50% of the required distribution. Now that is reduced to 25%, and 10% if corrected in a "timely manner". Catch up contributions for people over 50 and 60 also were increased, and there were other provisions to encourage employers to help employees save more for retirement.
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Published on January 19, 2023
Comments 2
Category: Best Retirement Towns and States
January 23, 2023 -- Many retirees move when they retire, although most remain in their existing state. A smaller percentage, probably between 10 and 20%, will find a different "best retirement state". The big question is - what states are they moving to? The answer to that question is - it depends on who you ask.
Topretirements looked at 4 sources to try to identify the states most likely to attract baby boomer and Generation X retirees. The results at each vary greatly. It is interesting to note that Topretirements Members are very different from most other retirees - an overwhelming preponderance (70%) say they will retire out of state, with the Southeast and Southwest being the most likely areas chosen. Warm weather is the primary driver of where, along with being close to family and friends and lower cost of housing.
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Published on January 21, 2023
Comments 16
