Category: Medicare
February 7, 2023 -- The debt ceiling is one of the big issues in the new Congress. How it plays out should be interesting, with Republicans narrowly controlling the House and the Democrats with a slight edge in the Senate. Some lawmakers think that Social Security and Medicare funding could become part of the debt ceiling solution, while others have a firm “hands off” posture. Both of these programs are crucially important to Topretirements Members, regardless of their politics, so here is a rundown on what we know about where things stand (most of which have to do with Social Security).
Social Security has somehow become part of the discussion on the debt ceiling, even though the program has no effect on the national debt (the opposite applies to Medicare). The larger issue for these two programs, which does not relate to the budget ceiling, is how to fix them long term. Social Security's Trust funds will run out in 2034 or thereabouts, and when that happens, only about 70% of promised benefits would be available to be paid to beneficiaries. Meanwhile, Medicare costs continue to rise.
Republican positions vary
more...
Published on February 6, 2023
Comments 36
Category: Health and Wellness Issues
February 9, 2023 -- Millions of Americans dream about an early retirement. Many others had no such goal, but were pushed into it by the pandemic, unexpected layoffs, or health issues. But however they might have come into the ranks of the retired, many will not fare well. That is according to research reported in the Journal of Economic Behavior and Organization, where Binghamton University researchers found that early retirement can lead to "faster cognitive decline among the elderly".
The study behind these findings comes from data from a Chinese program for promoting early retirement. In an effort to reduce poverty among its rural population, the country provided pension benefits in its 2009 New Rural Pension Scheme (NRP). The Binghamton researchers compared what happened to people in China who took the pension benefits and retired early, versus subjects who stayed in the workforce.
Plusses and minuses of early retirement
On the plus side, those in the study who took early retirement often experienced improved overall physical health. They tended to sleep better, and reduced their alcohol and smoking intake. So far so good. On the negative side, those who retired early seemed to exhibit reduced social engagement and mental activity. Ultimately, they showed an accelerated cognitive decline in the form of delayed recall. Dementia, it seemed, could be predicted in many of the subjects.
more...
Published on February 8, 2023
Comments 1
Category: Travel
February 14, 2023 -- Travel is often the number one thing that people say they look forward to when they retire. Many yearn for far off, exotic destinations - like a glacier in New Zealand, African safari, or Alaskan cruise. Travel goals for others are more modest, like touring all of the National Parks or a trip to Arizona. Time is not a problem for most retired people - their biggest challenge is often coming up with the money to make the trips they dream about. This article will cover a range of budget ideas that can help not only make those trips possible, but upgrade the experience too. We look forward to your suggestions as well.
Luxury Travel on a Retirement Budget - 11 Ideas
Be flexible. Perhaps you've seen the emails - travel to San Francisco for $59! The airlines, hotels, and tour operators do offer great deals in slow periods, but you have to be ready to take advantage of them. Think about what it would take to get ready for any kind of adventure that might come up, and plan to act when you see an offer that appeals. This especially applies to budget airlines like Avelo, which has resort destinations.
more...
Published on February 12, 2023
Comments 4
Category: Financial and taxes in retirement
February 15, 2023 — In 2021 the Federal Trade Commission received 1.5 million reports of identity theft. And guess who is usually the #1 target for scammers – right, retired people. A combination of carelessness, trust, declining faculties, and increasing deviousness from criminals is raising this crime to new levels.
more...
Published on February 15, 2023
Comments 9
Category: Downsizing
Special Thanks to the author SW Hubbard (Susan) for this article, which was originally published on JungleRedWriters.com. It is the latest in our Downsizing/Decluttering/Ridding Out Series.
February 22, 2023 -- The writer Lucy Burdette asked SW if we are drawn to our profession because of our disposition, or does our disposition morph after years in the same profession? And more particularly, how does that relate to domestic relations chez Hubbard, now that you are both mostly retired?
SW Hubbard: As with any chicken-or-egg question, the answer is a little of both.
Most nurses are naturally compassionate, and I’ve never yet met a happy-go-lucky lawyer unconcerned with details.
But spending many years in one profession changes the way you view your personal life, and the skills you use in the office tend to come home with you to be rolled out on the home front.
Take my husband.
more...
Published on February 21, 2023
Comments 1
Category: Family and Retirement
February 23, 2023 -- One of the hottest acronyms in the real estate world is ADU, which stands for Accessory Dwelling Unit. Demographic shifts from Covid, exploding real estate prices, and a shortage of affordable places to live has suddenly put them in the spotlight, prompting more states and communities to encourage and approve them. Their rise is a bonus for retirees, who can benefit from them in a multitude of ways.
The idea behind ADUs is pretty simple.
ADUs provide a secondary building unit on one lot. So right off the bat they are less expensive - they don't require any extra land. They can take the form of a small detached building, a second floor, basement, or other addition to the main home, or a conversion of part or all of a garage into a small home or apartment. Typically they are between 600 and 1,000 sq. ft. They usually have a bedroom, small kitchen, bathroom, and living area. Or they are just a small studio apartment. Prefab models are available, or they can be custom built. Normally they have a separate entrance. An example of "gentle density, they are often called granny flats, in-law apartments, carriage houses, casitas, etc.
more...
Published on February 22, 2023
Comments 2
Category: Best Retirement Towns and States
March 1, 2023 -- A few years back one we featured the Best Places to Retire in South Carolina in one of our Blogs. Not only were they attractive places to retire, but most had the added advantage of being very walkable towns. The piece prompted a lot of interesting discussion and Comments. It even inspired one of our Members, Judith, to go and visit many of them on a two week trip. Happily for Topretirements, she then reported back to the Blog on her experiences.
We have reprinted her trip report below. Even better, when we contacted Judith about this article, she reported that she had gone back to many of the same towns a few years later She provided us with her notes on that tour, which are in bold below. We added a few additional details to some of those places to retire (they are in italic). Here goes:
Judith's Trip Report to SC Best Places to Retire
I did a two week tour of South Carolina from Sept. 21 to Oct. 6 (2016). It’s a quiet Saturday morning now, and I have time to put down my thoughts, for those who asked.
more...
Published on February 28, 2023
Comments 12
