Article Excerpt: "...there’s more to choosing a place to live than just costs, especially if you have the money to retire comfortably. ...If you are looking for beaches, mild weather, watersports and golf (along with historic architecture and a peaceful way of life), consider the European city of..."
Article Excerpt: "...In an economy characterized by a volatile stock market and elevated inflation, a sure thing looks better than ever. For some Americans in the labor force right now, that looks like a pension. Striking members of the United Automobile Workers union made waves this year when the union’s leaders demanded the reopening of defined-benefit pension plans for workers hired after late 2007. Although U.A.W. leadership failed to persuade automakers to reopen the plans...Only about one in 10 Americans working in the private sector today participates in a defined-benefit pension plan..."
Article Excerpt: "...retirement gap − the risk of not having enough money throughout retirement to cover typical spending − is widest among late baby boomers in their early to mid-60s, who have low-paid to middle-income jobs, according to new retirement readiness research. The challenge? This group − who likely could be living paycheck to paycheck now − typically will need nearly as much money to cover their bills in retirement as they do while they're working and collecting a paycheck. But their Social Security checks and other savings might only enable this group of lower-paid workers to cover less than two-thirds of their pre-retirement spending, according to Fiona Greig, global head of investor research and policy at Vanguard. ..."
Article Excerpt: "...new data from the St. Louis Fed finds that there’s still a lot more retirees than the Fed predicted: about 2 million, to be exact. Now, that doesn’t mean the unretirement narrative isn’t true. Unretirement rates rebounded to pre-pandemic levels as the economy and society began to normalize again. The majority (68%) of pandemic-era retirees reported they’d consider returning to work, per a 2022 CNBC survey. And as the cost of living and life expectancy rises, 20% of retirees continue to work full- or part- time and 7% are job searching, per T. Rowe Price’s recent Retirement Saving & Spending Study. Nearly half of working retirees said they're doing so for either financial reasons or for socio-emotional ones. “It’s extremely scary. We thought that we would be doing some traveling this year, but that’s come to an abrupt halt. ..."
Article Excerpt: "You can avoid taxes in retirement by moving to one of these states, but there are even better ways. ...12 states tax Social Security in some cases, with each state having different rules for how those taxes are calculated. But 38 states (and the District of Columbia) won't tax your Social Security income at all under any circumstances. Here are the 38 states that don't tax Social Security benefits:..."
Article Excerpt: "...It's trade-offs like this that have a lot of retired workers choosing a middle-ground approach. In 2022, age 65 was the fourth most-popular claiming age, behind ages 66, 62, and 67, in that order. Just how big of a Social Security check is the average retired-worker beneficiary bringing home at age 65? According to data from the SSA, as of December 2022, the 1,389,007 retired-worker beneficiaries receiving a monthly check brought home an average of $..."
Article Excerpt: "Medicare is federal health insurance for people 65 or older, and some people under 65 with certain disabilities or conditions. ...Medicaid is a joint federal and state program that helps cover medical costs for some people with limited income and resources...."
Article Excerpt: "...What's Extra Help?
"Extra Help" is a Medicare program to help people with limited income and resources pay Medicare drug coverage (Part D) premiums, deductibles, coinsurance, and other costs.
You also won't have to pay a Part D late enrollment penalty while you get Extra Help.
Some people qualify for Extra Help automatically, and other people have to apply. ...APPLY FOR EXTRA HELP"
Article Excerpt: "...Medicare Supplement Insurance, or Medigap, is health insurance that covers “gaps” in Medicare Part A and Part B coverage. Although you use your Medigap policy with Original Medicare, Medigap has its own rules for when and how you can sign up.
The Medigap open enrollment period is the easiest and least expensive opportunity to enroll in Medicare Supplement Insurance. If you miss your Medigap open enrollment period, you might end up spending much more for Medicare Supplement Insurance or even be unable to buy a plan. ...
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Article Excerpt: "Medicare Supplement Insurance (Medigap) is extra insurance you can buy from a private health insurance company to help pay your share of out-of-pocket costs in Original Medicare
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Generally, you must have Original Medicare – Part A (Hospital Insurance) and Part B (Medical Insurance) to buy a Medigap policy. ...Get Medigap basics, Get ready to buy, Find Medigap policies, Already have a Medigap policy? Find out if you can change or drop your policy.
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Article Excerpt: "...11-foot ceilings and eight-foot floor-to-ceiling windows.
“The completely custom artisanal design boasts an exquisite Earth-friendly, sustainable, off-grid home with every expected modern amenity found in contemporary luxury builds,” says the property’s website. The home sits within the Greater World Earthship Community, which is a five-minute drive to the Taos airport and 20 minutes to downtown Taos.
To view the full property listing by John Johnston with Berkshire Hathaway HomeServices in Taos, click here. The website includes info, pictures, and a complete 3D tour of the property.
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Article Excerpt: "... government employees covered by the Federal Employee Retirement System — a three-tier plan that includes Social Security — typically receive a lower rate..."
Article Excerpt: "Currently, Federal Employees Retirement System employees who began their careers as temporary or seasonal workers must work longer to receive their full retirement benefits. ...The Federal Retirement Fairness Act (H.R. 5995),...would allow employees enrolled in the Federal Employees Retirement System who began their careers in government as temporary workers to make catch-up contributions to their defined benefit pensions to cover for the time before they had permanent positions and were unable to contribute to their retirement accounts. "