Category: Financial and taxes in retirement
October 15, 2009. It's official, there will be no social security COLA (Cost of Living Allowance) increase in 2010, the first time this has happened since 1975. The reason is simple, this year there was no increase in the Consumer Price Index (CPI-W) from the third quarter of 2008 to the third quarter of 2009, hence no need for a payment.
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Published on October 15, 2009
Comments 9
Category: Baby Boomer Retirement Issues
Note: This is the 3rd in a 3 article series about baby boomers and their retirement real estate plans. Part 1 featured the differences (and similarities) of boomers' retirement housing preferences and the homes builders are building. Part 2 explored the conflict between baby boomer desire to retire in suburbia vs. reality.
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Published on October 12, 2009
Comments 54
Category: Retirement Real Estate
It's been a rough couple of days in the retirement real estate market. Fortunately, not all the news was bad, depending on your perspective. Here are few news stories crossing our desk:
- Prices are falling in many active adult communities, which is stimulating sales to at least some degree. According to a report in the Press-Enterprise, Hanley Wood Market Intelligence, a real estate research firm, prices in Del Webb's Solera Diamond Valley recently ranged from $170,000 to $291,000. Back in January 2008, similar houses were priced from $246,000 to well over $300,000.
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Published on October 12, 2009
Comments 0
Category: Baby Boomer Retirement Issues
Remember the great fear of a few years ago: baby boomers will be retiring in droves, creating a severe shortage of skilled workers and driving up costs for employers. Whew – there’s one less thing to worry about. A recent survey on the impact on retirement of the recession…
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Published on October 6, 2009
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Category: Best Retirement Towns and States
The Sunshine State just had its first population loss since 1946, according to research from the University of Florida. The State lost 58,000 residents in the year ending March, 2009, the first such loss since military personnel left the State when WWII ended.
This decline is sobering to Florida, a state used to nothing but unending growth. The experts are quick to provide a multitude of reasons for this change, leading the casual observer to think Florida might have lost its (retirement) mojo. The current recession and attendant housing crisis is the most important reason for the decline. Construction is hugely important in this state, yet
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Published on October 6, 2009
Comments 6
Category: Baby Boomer Retirement Issues
Note: This article is a continuation of our earlier article, "55+ Home Buyers and Builders Not Exactly in Synch". See Part 3, a Boomer's Retirement Self-Assessment.
Baby boomers' expressed desires about where they want to retire are pretty clear: we want to continue living where we do now - in suburbia*. That sounds fine as long as we are in our 60's and 70's. But think about what will happen when we get into our 80's and 90's. Studies find most people outlive their ability to drive by 6 to 10 years. In the suburbs if we can't drive, we will be in very big trouble. Also, at that age moving and starting over with friends and neighbors is not that easy. It sounds harsh, but the reality is that many of us will become trapped in our homes with no easy exit.
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Published on September 27, 2009
Comments 3
Category: Retirement Real Estate
August home starts were positive. Unfortunately sales of existing homes including single-family, townhomes, condominiums and co-ops declined 2.7 percent in August, breaking a four month streak of increases. That led to a seasonally adjusted annual rate of 5.10 million units in August from a pace of 5.24 million in July.
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Published on September 24, 2009
Comments 0
Category: Baby Boomer Retirement Issues
Note: This is the 1st of a 3 part article. Here is a link to the second, "Conflict Looming on Suburban Retirement: Desire Vs. Reality". Part 3 is a Self-Assessment for Baby Boomer Retirement Preferences.
As the largest demographic in American history, the baby boomer population is a well-studied group: all sorts of marketers are anxious to know what we will be up to next. Part II of a 55+Housing joint study done by the National Association of Home Builders and The Met Life Mature Marketing Institute was just released: "What are Builders Building, What Do Buyers Want", and the results provide an interesting insight into what is happening in the 55+ housing market.
One important fact to know is that some 62% of all boomers plan on staying where they live now,which is generally in the suburbs. That percentage staying home is probably lower than their parents' generation, but it still represents a very large number of people who intend to age in place. Only 9% are interested in living in a city, and 28% would prefer rural life.
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Published on September 22, 2009
Comments 6
Category: Retirement Real Estate
The Commerce Department released August construction numbers last week to the great joy of economists and builders. Overall, construction of new homes and apartments increased 1.5%. Advanced construction permits also increased (2.7%). Construction levels are now almost 25% ahead of where they were in April. The good news in construction…
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Published on September 21, 2009
Comments 0
Category: Financial and taxes in retirement
With many of us baby boomers increasingly worried about their finances in retirement, reducing what we pay in taxes is an attractive option. It's one option that might not impact our lifestyles in any way. So, if you already live in a high tax state, voting with your feet to escape some of those taxes might be a good idea.
The principal state taxes you typically face in retirement are income, property, and sales taxes. Gasoline, cigarette, and estate taxes certainly exist, but they probably
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Published on September 8, 2009
Comments 2
