Category: Financial and taxes in retirement
February 26, 2024 -- Choosing an investment firm to manage retirement savings and IRA and 401(k) investments is an important task, no matter how small those might be. But which of the big 3 investment firms is best - Schwab, Vanguard, or Fidelity? In this article we outline how to choose a firm that protects that money and provides the options to make it grow.
The good news is that all three of these big firms have great products, service, and reputations. Determining which firm is better for retirees—Vanguard, Fidelity, or Schwab—depends on various factors such as individual preferences, investment goals, financial situation, and the services each firm offers. Some people have accounts with more than one of these firms, and they often have an opinion as to which is better (we'd like to hear about your experiences).
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Published on February 25, 2024
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Category: Best Retirement Towns and States
February 12, 2024 -- People looking to retire in a charming European town on a budget have many fine choices beyond the obvious destinations like France, Ireland, and Scotland. They can be terrific places to retire, but countries like Spain, Portugal, the Czech Republic, Lithuania, Italy, and Bulgaria offer affordable rents, much lower cost of living, and sometimes liberal policies about permanent residency. They can also provide an ideal lifestyle for adventurous retirees.
Affordable, stable countries in Europe to retire on a budget
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Published on February 18, 2024
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Category: Social Security
February 11, 2024 -- The File and Suspend gambit is finished, and now the Restricted Benefit (Deemed Filing) is gone too. So what are the best Social Security Spousal Claiming Strategies that remain? Are any legal claiming approaches left that allow couples to maximize their Social Security benefits? The good news is there is still some room to maneuver.
Different situations. Every couple has a different set of circumstances. Perhaps one person has a much higher earning record than the other. The ages of the couple might be very far apart. They might have accrued very high retirement savings, or there is a sizable pension. On the other hand, they might have been forced into retirement early, and do not have much saved. All of these difference situations can mean different Social Security claiming strategies.
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Published on February 9, 2024
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Category: Retirement Real Estate
February 8, 2023 -- Florida might not appeal to everyone, but it sure does attract more retirees than just about anywhere else in the USA. Its huge coastline, countless lakes, lack of a state income tax, and warm winter climate are magnets for overtaxed retirees with a hankering to get away for the winter (or all year round).
The cheapest and most expensive towns in Florida
For purposes of this article we used data from the National Association of Realtors®, which reports on 19 Florida markets. To generalize about Florida, the further one goes south, and the closer to the coast, the more expensive it gets. Naples and Miami hold an overwhelming lead when it comes to costly places for retirement real estate.
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Published on February 7, 2024
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Category: Medicare
The Inflation Reduction Act will save Medicare recipients money
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Published on February 6, 2024
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Category: Best Retirement Towns and States
January 28, 2024 -- People ask, should I retire in New Mexico? The answer is easy if you are looking for a place to retire that has a varied climate, mountains, deserts, a big city (Albuquerque), small towns, ski resorts, and plenty of wide open spaces. It is also much less crowded than more traditional and popular retirement destinations like Florida, Arizona, and the Carolinas. In this article we will explore the pluses and minuses of a New Mexico retirement, along with some of the best places to retire in the Land of Enchantment.
New Mexico Climate
The State has a climate that many people will find as excellently suited for retirement. For folks who like low humidity, New Mexico is dry with a semi-arid climate. The northern sections experience winter, while the southern realms have warm winters. Generally the altitude is high and even has some mountains over 12,000 feet. The eastern portion of the State is more like the Great Plains. The southern portion borders on El Paso, TX, and Cuidad Juarez, Mexico.
New Mexico Taxes in Retirement
Tax Burden: At 10.2% the total tax burden in New Mexico is the 25th lowest of all the states (TaxFoundation.org).
Marginal Income Tax Rates: The New Mexico income tax has marginal rates from 1.7% to 5.9%.
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Published on January 28, 2024
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Category: Active adult communities
January 27, 2024 — Thanks to a Member suggestion, we have now added the capability for you to add Comments to our reviews of Communities (you could always do that with City reviews). This is designed so you can tell us about your experience with that community, or ask if…
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Published on January 27, 2024
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Category: Active adult communities
January 18, 2024 — It is hard to imagine anything better than finding a great lake town for retirement. Waking up to the sound of lapping waves, taking a dip or a boat ride out to drop a few lines, or looking at the sunset mirrored on the lake - the beauty and lifestyle can be hard to beat. In this article we will profile 11 great lake towns for retirement, along with some outstanding active communities in or near those towns.
11 Great Lake Towns for retirement
Almost every part of the country has some wonderful lakes of every size and description. Some are in major cities like Chicago and Madison WI, while others are near tiny little towns. Many active adult and 55+ communities have taken advantage of these lakes to offer terrific opportunities for lakeside living. We used our new Community Explorer to find the lakeside communities in this article. As an example, looking at just Florida, Georgia, the Carolinas, and Tennessee, we came up with 138 communities that are either on or near a lake.
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Published on January 17, 2024
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Category: Financial and taxes in retirement
January 9, 2024 - People contemplating retirement often wonder what is the Maximum Social Security Benefit is 2024. That is the benefit received by high earners who have maximized their FICA payments for 35 years, and who waited until age 70 to collect. The answer is pretty impressive - the maximum Social Security benefit in 2024 is $4,873 per month!
Others with less fortunate earning records, or who claimed as early as age 62, are more likely to receive something around the average 2024 Social Security benefit. That figure is a relatively paltry $1,907 per month in 2024, up from $1,848 in 2023.
Waiting until Age 70 Helps with the Maximum Social Security Benefit
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Published on January 9, 2024
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Category: Active adult communities
By Larry GavrichJanuary 9, 2024 --
Whether you and your significant other are looking for golf, or no golf, in your retirement community, the principles behind searching for a golf community home and a home in some other “planned development” is essentially the same. This became apparent to me as I conducted research for the book I published in 2020, "Glorious Back Nine: How to Find Your Dream Golf Home". Except for a few paragraphs dedicated to choosing golf courses that fit a golfer’s style and game, much of the guidance in the book applies to non- golfers just as well. (And the advice about choosing a golf course is pretty much the same as for choosing a marina for your boat, tennis and pickleball courts for your net games, and local stables for your horse.
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Published on January 8, 2024
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