New Medicare Changes Mean Surprising Savings
Category: Medicare
The Inflation Reduction Act will save Medicare recipients money
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Published on February 6, 2024
Comments 41
Should I Retire in New Mexico?
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
Comments 5
Comments Now Possible on Communities
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
Comments 5
11 Great Lake Towns for Retirement
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
Comments 4
What Is the Maximum Social Security Benefit in 2024
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
Comments 23
Golf or No Golf in Your Retirement Community: The Search Process is the Same
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
Comments 2
10 Most Read Retirement Articles of 2023
Category: General Retirement Issues
January 3, 2023 -- The most read retirement articles of 2023 at Topretirements are always interesting to look at. That is because although we are often convinced a topic will hit a sweet spot for our Members, it doesn't always work out that way. 10 Myths That Could Sink Your Retirement was one of those with a disappointing response, although it did generate 12 interesting Comments. Another surprise - topics that we have written about many times continue to turn up again as popular favorites ("Where Is the Best Place to Retire"). Often times a guest post turns out to be very popular. For example, "My Life in God's Waiting Room" (Florida) by Lisa Black, a civilian forensic scientist, and "Elizabeth Loves Her Retirement in Portugal", were two we were fortunate to receive by Topretirements fans.
The 10 Most Read Retirement Articles of 2023
This is the list of the 10 articles at Topretirement that attracted the most readership at Topretirements last year. One conclusion that could be drawn from them is that anything having to do with "best places", either towns or communities, is probably going to be popular. Our members also like hearing the perspective of other members who have explored places to retire, like Yolande's somewhat scathing review of St. George, Utah.
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Published on January 2, 2024
Comments 11
New Survey: Best Snowbird Pairing Suggestions
Category: Snowbirds
December 31, 2023 -- There seems to be a lot of interest in an updated survey of what our Members think are the best snowbird pairing suggestions - a combination of where you would like to live in winter and summer, given the opportunity to live in two or more places. Not that the winter has to be warm, because plenty of folks actually migrate north when the leaves start turning, although warmer winters are preferred by most.
To keep things simple, please post your opinions and what you or your friends actually do in the Comments section below. Just tell everyone where you go back and forth to, along with (ideally) how you get there (drive, fly, train, etc.), and how long you stay. Do you rent or own, and if you care to mention what you pay, that would be great too. People who own snowbird properties for rent are welcome to post their information so this can serve as a clearing house.
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Published on December 31, 2023
Comments 7
Active Communities with Golf and Marina
Category: Active adult communities
Dec. 28, 2024 - Active communities with golf and Marinas have the two of the most popular amenities that retirees at Topretirements are interested in. Usually, people prefer one of those activities over the other. But some folks want to have the option of a community that has both a golf and marina as part of their facilities. They probably won't pursue both on the same day, but they do enjoy both activities from time to time. Fortunately, there are quite a few communities that can deliver facilities where homeowners can enjoy both boating and golf without leaving the gates.
A handy way to find them is our new Community Explorer. Using it, we found 23 communities in Florida that offer both a marina and either a 9 or 18 hole golf course. In South Carolina the Community Explorer found 18 communities offering an 18 hole golf course and a marina. Note there are another 12 SC communities that offer golf and a boat or kayak launch. In North Carolina the Explorer turned up 13 communities with the combination of golf and marina. We will provide a sampling from these states plus one in Georgia here. But you can use the Community Explorer to find more (and other options too!) in these and other states.
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Published on December 27, 2023
Comments 1
Pros and Cons of 55+ Communities
Category: Uncategorized
December 12, 2023 - We are often asked about the pros and cons of 55+ communities vs. retiring in a traditional community. In fact just last week one of our Members criticized the usefulness of our new Community Explorer because of its concentration on 55+ and active adult communities, to the exclusion of cities and towns. It is clear that people of retirement age are split - some want the 55+ or active adult lifestyle for their retirement, some want to live in a traditional community, and another significant portion isn't sure about what to do.
The Pros and Cons of 55+ Communities
We might not change any minds with this discussion of the pros and cons of 55+ communities, but at least we can help those who are on the fence decide on which option is better for them.
First let's look at the pros of living in a 55+ development with the active lifestyle.
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Published on December 11, 2023
Comments 9
