Category: Medicare
August 28, 2024 -- People enrolled in Medicare Part D and Medicare Advantage are getting some really good news, and some not so bad news. The biggest changes will go into effect in 2025. They were made possible by the Inflation Reduction Act of 2023, which passed without any Republican votes.
Here is the good news for Medicare recipients:
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Published on August 27, 2024
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Category: Best Retirement Towns and States
August 27, 2024 -- Florida is definitely one of the most popular states for retirement - and for people of all ages. It was the second fastest growing state in 2023, and had the highest rate of net immigration (more people moving in than out) in the nation in 2022. The influx of retirees is one of the biggest reasons for this growth. Yet the Sunshine State is a lot more than just Disney World and beautiful beaches. This article will explore some of the essential things you need to know before you pull up stakes and move there. Some of these items might be positive for you, others not so much.
13 Things to know about retiring in FloridaIt’s hot and humid in The summertime. Living in Florida year round means hunkering down in the air conditioning for most of the summer. Powerful hurricanes and storms hit the State frequently, sometimes with mandatory evacuations.
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Published on August 26, 2024
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Category: Social Security
"See Presidential Positions (below)".
August 15, 2024 -- Thanks to everyone who voted in last week's poll on the best way to fix Social Security. The good news is that you seem willing to make some sacrifices to make it happen, not just throw the burden onto someone else. Even if very few people in government are willing to suggest possible solutions (promising to save it without the way to do it is not a solution), you are! Here is a link to take the poll and see the many interesting Comments it provoked.
Poll Results
The #1 thing that the 170+ people who took our poll want is to expand the earned income that is taxable for Social Security. In 2024 that limit is $168,600. Over 51% of you voted to increase that so taxes are paid on all earnings over $400,000. That option would mean people earning from $168,600 to $400,000 would not pay more FICA taxes, but people over that would pay it on everything they earn. Although presumably not too many members of the Topretirements voters would be affected, the vote does reflect a common opinion, one that would provide a substantial amount (but not all) of the funds needed to avoid benefit cuts expected in 2035. See Reader Responses,
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Published on August 14, 2024
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Category: Travel
August 15 , 2024 — One of the most common things that retirees say they want to do is travel, now that they have the time, and maybe the money, to do it. Couples usually spend a lot of time deciding where and when to go. For example, they might want to take their most adventurous tours early in retirement, when they have fewer physical problems. But another issue that needs to be decided is whether to plan the trip by yourself, use a travel agent, or go on some type of group tour. In the hope of making your travel experiences better, this article will explore all these options, with the pluses and minuses for both.
Tour Group
This is by far the easiest option. You decide on where you are going and your budget, then you pick the tour operator that matches your needs. Nowadays there are tours for every interest and level of activity - from theatre tours of London, river cruises, national parks, to the base camps of Mount Everest. Choosing a company that you have used before, or which comes highly recommended by someone whose judgement you trust, is a good way to go. College alumni tours are a great idea. They tend to include more interesting sights and destinations, a chance to travel with people you have something in common with, and the expertise of a college professor to explain what you are seeing.
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Published on August 13, 2024
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Category: Financial and taxes in retirement
August 6, 2024 -- The New York Times reported on a phenomenon that is literally uprooting retirees and others in Florida and elsewhere. In "Skyrocketing Insurance Is Clobbering Consumers" the Times reported on the crippling escalations in homeowner insurance that are forcing many homeowners out of their homes.
An unhappy situation!
When someone retires one of their most important moves is to calculate a retirement budget. To do that they balance how much money have they saved plus their income from all sources against expected expenses. Let's say that a retired couple figures they can swing a move to Florida or Arizona. Everything looks good when they retire. But after a few years one of their big budget items, home insurance, has doubled (FL insurance rates are up 40% in the last 5 years, higher in some areas). Instead of paying $3000 a year in premiums a few years ago, they might be on the hook for double what they originally budgeted for. Mortgages typically require flood and other types of homeowners insurance, so it is not optional. For anyone with a tight budget, the increases could be catastrophic.
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Published on August 5, 2024
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Category: Social Security
August 6, 2024 — In case you haven’t been paying attention, a real crisis is brewing for Social Security. According to its Trustees, its reserves will be exhausted by 2035 (just 11 years away), at which time the only money available will be from taxes paid by current workers. Only…
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Published on August 5, 2024
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Category: Active adult communities
August 1, 2024 -- Pocket Neighborhoods were a surprising favorite in our recent poll of your preferred type of community for retirement. (Use this link to see all results from the poll). Last week we did a feature on another winner, New Urban Communities, so here is the lowdown what you need to know about pocket neighborhoods along with some outstanding examples.
What is a Pocket Neighborhood?The most common characteristic of a pocket neighborhood is a group of small homes or cottages sharing a common, open space. That area might be for gardens, pedestrian walkways, shared yards, or gathering places, and recreation. The idea is to promote a close knit sense of community and neighborliness with an increased level of contact. These usable public spaces belong to everyone who lives in that neighborhood.
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Published on July 31, 2024
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Category: Social Security
July 31, 2024 -- Ordinarily Social Security or the IRS will not contact you by email or phone - unless it is from the mail, consider it spam or some kind of ripoff. But if you got an email recently from the Social Security Administration titled "Important Changes to Access Your Social Security Account!" it is legit. The reason is that soon you will no longer be able to sign in to your online Social Security account using your Social Security username and password. To access Social Security online services, including my Social Security, you will need to create a Login.gov or ID.me account.
This change aligns with federal authentication standards such as Login.gov while providing safe and secure access to their online services. If you are one of the millions of account holders who already use Login.gov or ID.me account to sign in, you do not need to take any action. For example, if you have a Global Entry account you already have a Login.gov username and password.
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Published on July 31, 2024
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Category: Active adult communities
New Urban Neighborhoods Have "Lots" to Offer
July 24, 2024 -- New Urban Urban Community was the surprising winner of our recent poll of favorite retirement community types. Of the 5 possible choices in that poll, New Urban got 28% of the votes, narrowly beating out "I wouldn't live in any of these" and "All Ages Active Adult". That development prompted Patricia to ask if we were going to have an article about New Urban Communities, which was a great suggestion! Here is a link to all the results from "Your Favorite Types of Communities".
New Urban communities (often called traditional Neighborhood Developments (TNDs) are an often overlooked choice for retirement. These communities deliver on many of the requirements desired by many baby boomers. Those include walkability, a neighborhood feel, bike or pedestrian access to a town/city center via paths or sidewalks, and an attractive environment with recreational possibilities.
Retro VillageNew Urbanism is, in our opinion, an oxymoron. “Retro Village" or "Retro Urbanism” might be better terms. That is because the movement seems more like a return to what towns were like before cars changed everything – there is really nothing “new” about it! There are plenty of examples of very old towns that are a perfect example of great urban planning – Savannah, GA; Washington, D.C.; Venice, FL; not to mention almost every walled city in Europe. In all of these cases residences are clustered around parks, shops, and restaurants – making everyday life possible without the hassle of cars and traffic.
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Published on July 23, 2024
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Category: Active adult communities
July 18, 2024 -- The results are in from our recent poll of your favorite community types, which we labelled "The Search". In 2 polls featuring 10 different types, we asked our Members and visitors to vote on which type of community they would most like to retire in. The results came in much as expected, but there were also some very big surprises. In Part 1 the favorite was far and away 55+ active adult communities - it got 34% of the votes. In Part 2 the surprising winner was New Urban Communities, which garnered 28%. Golf and RV Resort communities were way down at the bottom, attracting very little interest. Over 400 people voted (thank you!) Detailed results below.
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Published on July 17, 2024
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