Category: Medicare
October 24, 2024 — If you think you might have a hearing problem (or more likely, if a family member says you do), you should get your hearing tested. Now that some models are available over the counter, hearing aids are becoming more affordable. One easy way to test your hearing and get an inexpensive hearing device is coming later this month from Apple. The AirPods 2 will provide an over-the-counter hearing aid for individuals with mild to moderate hearing loss, once a free software update slated for October 28 is installed.
The AirPods 2 are among the latest versions of Apple's popular earbuds. Not only do they work great (your editor loves his) for listening to books, music, podcasts, phone calls, etc., but later this month, they will also function as hearing aids.
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Published on October 23, 2024
Comments 1
Category: Active adult communities
October 23, 2024 - Residents of Florida are concerned, rightly, about the hazards of extreme weather events like hurricanes, tornadoes, and floods. So it was interesting to see how two communities, designed to take whatever Mother Nature can dish out, and located in the center of the storm area, would fare after Hurricanes Helene and Milton. Babcock Ranch near Fort Myers, and Hunters Point on Anna Maria Island weathered both storms with almost no damage, flooding, or electrical outages.
Babcock Ranch residents sat out the 'canes in safety in a designated building for refuge, and were even joined by residents of nearby towns. There was tree damage but no loss of power in either community. Communities like these are proof that with proper planning and strong building codes, people can be safe and property protected, even in the face of the ever increasing risk of climate disasters.The New York Times recently reported on the Babcock Ranch success in its "A Climate Resistant Community Passed Its First Tests" article .
The Hunters Point Blog proudly touted how well that community did in the face of the two giant storms. The difference in outcomes for these communities vs. others in other nearby areas is telling. While lives were lost, power went down for days on end, public infrastructure destroyed, homes demolished and knocked off their foundations, there was no flooding, power losses, or injuries at Babcock Ranch and Hunters Point.
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Published on October 22, 2024
Comments 2
Category: Financial and taxes in retirement
October 15, 2024 -- As if Florida condo owners didn't have enough to worry about. A deadly duo of hurricanes caused suffering and loss of human life. But Condo buildings 3 stories face other kinds of challenges, as December 31 deadlines for Florida's stringent new engineering inspections and reserve studies go into effect.
If condo and HOA boards aren't nervous about all this - they should be.
The original Building Safety Law (SB 4), and later clarified by SB 154, was a reaction to the tragic Surfside building collapse in Miami in 2021. It specifies 2 key requirements for condominium associations that will fundamentally those will affect their finances. The first is a Milestone Inspection Study, the second is the Structural Integrity Reserve Study. We will explain those in greater detail, later. But first, let's talk about how this will unfold in the real world.
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Published on October 14, 2024
Comments 5
Category: Social Security
Oct. 11, 2025 - The Social Security Administration announced that the Cost of Living Adjustment (COLA) for recipients will be 2.5% in 2025. It is the smallest increase since the pandemic. Although doubtless recipients would have hoped for a bigger rise, the silver lining is it reflects the good news that inflation is slowing coming to heal. Recipients got a 3.2% boost in their benefits in 2024.
The 2.5 percent cost-of-living adjustment (COLA) will begin with benefits payable to nearly 68 million Social Security beneficiaries in January 2025. Increased payments to nearly 7.5 million SSI recipients will begin on December 31, 2024.
Earnings Limits
The Social Security payroll tax will be assessed on the first $176,100 of income in 2025, up from $168,600 this year. After that level, Medicare taxes continue but not those for Social Security. Many experts (and VP Harris) suggest that SS taxes continue on all income above that level, or perhaps just above a figure like $400,000. The Social Security trust funds will be exhausted by 2035, at which time the only money available to pay benefits will come from taxes on existing workers.
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Published on October 11, 2024
Comments 0
Category: Social Security
October 8, 2024 -- With the election coming soon, the issue that most directly affects retired people is the impending Social Security and Medicare funding crisis. If nothing is done, Social Security recipients will face a 20% cut in benefits in 2035, just over 10 years from now. Medicare will run short a few years later. Therefore it is critical to know how each of our presidential candidates would address this urgent crisis.
Both Harris and Trump say they would not cut Social Security or Medicare. (Editor's note: Politically wise, easy and expedient to say, but how are they going to do it?) Here is how the New York Times summarizes the 2 candidates' positions on Medicare and Social Security. After that we have Topretirements poll results and commentary from your editor.
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Published on October 7, 2024
Comments 13
Category: Uncategorized
October 7, 2024 -- The votes are in - thank you everyone who took a moment to add your voice! There are several interesting conclusions we can make from the two separate polls we recently conducted, one on your favorite cruise destinations, and the other your pick for the cruise line to get you there. We will detail those results, along with interesting comments, below.
Best Cruise Destinations
We listed 13 possible destinations for you to pick your favorite - either where you've been or want to visit. Other was another option. What we found out is there are a lot of great places to go on a cruise! When it comes to your favorites, a whole bunch of places clustered at the top. If you add all of the possible river cruises we listed, those would be the favorites, getting about 18% of the votes. Those ranged included the Rhine, Danube, other river or barge trip in Europe, plus Mississippi in the U.S. Following those was a close virtual tie for second among Scandinavia/Iceland and Alaska. Australia/New Zealand and South America/Iceland were close behind. Asia came in last place. While the number of votes cast on this poll were disappointing (gentle nudge), we feel like the results are probably pretty reasonable.
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Published on October 6, 2024
Comments 3
Category: Best Retirement Towns and States
Updated October 22, 2024 — The stunning devastation from Hurricanes Helene and Milton, so quick in succession, puts an exclamation point on climate and other natural disasters. It would not be crazy to wonder - is there anywhere you retire that is safe. And it's not just hurricanes - the natural disasters that have occurred across the U.S. in recent months are causing a lot of people to reconsider where they retire.
Where is a safe place to retire
Residents of Florida expect hurricanes and their damage, but as people in other states like the Carolinas, Tennessee, and Georgia found out last week, no one is immune from storms like these. What made Helene's damage so bad was that no one was expecting just how serious its impact was. Residents of the Asheville NC area, 500 miles away from the Florida Coast and one of the most popular areas of the country for retirement, are stranded by washed out roads and bridges, flooded infrastructure, and ruined homes. There is no power, fresh water is only available from state, local, and federal emergency supplies, and cell service is limited. Supplies are being brought in by mule trains. At least 57 people were killed in Buncombe County alone, home to the city of Asheville, and no one even knows how many more deaths will be in the final tally. Here is how you can help victims of the storm.
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Published on October 2, 2024
Comments 24
Category: Medicare
Sept. 25, 2024 -- The annual Medicare Open Enrollment period starts Oct. 15. This is when people on Medicare can review and change their plans without penalty.
When’s the Medicare Open Enrollment Period?
Every year, Medicare’s open enrollment period is October 15 - December 7.
What’s the Medicare Open Enrollment Period?
Medicare health and drug plans can make changes each year—things like cost, coverage, and what providers and pharmacies are in their networks. October 15 to December 7 is when people with Medicare can change their Medicare health plans and prescription drug coverage for the following year to better meet their needs.
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Published on September 25, 2024
Comments 13
Category: Travel
Sept. 24, 2024 — This is our second poll on that ever-popular retirement activity – cruises. Last week we asked you to vote on your favorite cruise line (ocean or river), this week’s is on your favorite cruise destination (where you’ve been or most want to visit). We will report…
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Published on September 24, 2024
Comments 4
Category: Retirement Planning
Sept 23, 2024 — About a third of people aged 50 or more live alone, according to the AARP. That is a lot of people who can’t rely on a spouse or roommate as they age. So what is their plan going forward? The best advice is to start thinking…
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Published on September 22, 2024
Comments 9
