Categories
Retirement Plan

Retirement – Are You Ready and Can You Do It?

Retirement – When Does It Begin?

Looking forward to retirement is the current pastime of many of us 50+ years old boomers.  Anticipating our retirement and what it will be like is a pleasant thought.  They say you really don’t know what retirement is until you actually retire.

The expected benefits are many: having more time, doing things we like, making new friends, traveling, experiencing new things, less stressful life and a better balance between work and play.

Using the new definition of retirement as being a better balance between work and play, when do we pull the trigger and consider ourselves being in retirement? When you leave your full time career job?  When you start drawing social security somewhere between age 62 to 66?  Or when you say so?  Many people find it hard to say they are retired, even after they have retired.

Some people ease in to retirement. They start working from home doing consulting or a Internet business.  People start working part time or take some time off then jump back in for a while. Some people move to a 55 plus community on the edge of a metro area and still work full time.  All of these are the transition to retirement and help easy the process. The exciting part is actually starting the process for a better balance of work and play in our life, no matter what you call it.

Robert, age 62 and retired

Originally posted 2010-05-24 10:11:25.

Categories
Retirement Homes

55+ Homes For Sale in Retirement Communities in Small Towns

55+ Homes for Sale in Retirement Communities in Small Townsretirement communities small towns

What Are 55+ Homes?

55+ homes are located in 55+ communities. Sometimes these are also call Active Adult Communities and Retirement Communities. These homes are in a planned usually gated community located many times in small towns not too far removed from large metros but far enough out to have a more casual relaxed atmosphere. Many times these 55+ communities are located in a small town.

What’s Is Small Town Living Like?

Small town living has plenty of advantages that we have presented in this Advantages of Small Towns link. They included a slower pace of living, less traffic, quality of life, safer, lower cost of living, affordable housing, friendlier people and more.

What’s 55+ Community Living Like?

It can give you an exciting new active lifestyle. The homes are usually very energy efficient with great floor plans that are aging friendly. The community usually has a clubhouse with its activities center that has plenty of programs and clubs of all sorts. These allow you to be stay active and meet new friends. The 55+ communities also have plenty of outdoors amenities like walking trails, game and ball fields, swimming pools and more.

Looking for a Home in 55+ Community?

Interested in finding 55+ homes for sale in small towns? Click that link to find all the + currently available 55 homes for sale.

Will You Like the Active Adult Lifestyle?

Most people do. Not only do they like it, they love it and wonder why they didn’t take advantage sooner. You can go at your own pace and are not be required to participate in anything, but we think you will love to do so.

Where Are The Most Popular 55+ Homes?

55+ homes are located in almost every state. According to our date, the most popular states for 55+ homes are Florida, California, New Jersey, Massachusetts, Pennsylvania and Arizona.

Now You Really Want to Find a 55+ Home, Right?

If you are interested in the current 55+ homes for sale in retirement communities click on the link. The for sale property information is updated all the time and includes resales and new homes.  For entire communities click here 55+ communities.

Not ready to buy, then find a 55+ home to rent.

Originally posted 2013-11-03 18:18:39.

Categories
Retirement

The Risks and Benefits with Medical Insurance

Everyone knows how unpredictable life can be and just about anything can happen just about any time. Some people convince themselves that they probably don’t need medical insurance today, but you never know with your health what will happen tomorrow. All of us are susceptible to diseases, illnesses and accidents every day of our life. People who are totally healthy one day can be struck with a disease tomorrow or seriously injured in a car accident. These things happen all the time, every single day! After something like this does occur, the medical bills start coming in and if you’re stuck without medical insurance to help, you are facing a huge financial burden and strain.

Being Prepared: We need to be prepared for any type of disaster that could occur and not many people are. There are so many important reasons why you need to take out medical insurance.

Quality of Care: Believe it or not, people who are medically uninsured will get less care as someone who is insured. For example, a woman who is pregnant with no insurance will receive far less prenatal services because of the high costs involved. As well, children and adults both may not be able to see a health care provider on a routine basis to get treatment and advice for their sicknesses because the out of pocket cost for the visit cost them too much money. This is your life and your health that are risk.

Health Outcomes: People who remain medically uninsured have much worse outcomes with health conditions. Reports have shown that people with medical insurance have a better outcome with their health problems. Researches have shown that death rates are 25 percent higher with people who have chronic diseases and don’t have medical insurance.
Financial Burden: Not having medical insurance causes financial burdens on families. Many discounts are applied to medical insurance policies and those without insurance won’t get any discount on top of paying double and triple costs for being uninsured. An unexpected tragic illness or injury has often times caused a family without medical insurance to have to go bankrupt.

Risks: Without medical insurance, someone may not be able to afford an expensive surgery or treatment that they need. Prescriptions may cost too much for some people to afford without medical insurance so they take the risk of not buying them. Medical insurance is so much better to protect your family from all these unexpected and sudden costs that medical care brings. For people who are not insured, having to pay out of pocket for something expensive can cause so much stress and eventually lead to depression.

The benefits of being medically insured far outweigh not being insured. Paying small amounts of premiums on a monthly or regular schedule will keep you from having the burden of paying massive amounts of money in medical costs when an illness, disease or an accident happens all of a sudden. When it comes to being on the safer side, it’s always better to have that peace of mind that medical insurance can offer.  For seniors, it is a good idea to have supplements insurance to supplement your medicare insurance.
Author’s Bio: The articles of Mark Anderson have really met the needs of the users. He suggests them to visit Medicalinsurance.org   for more information.

Originally posted 2012-08-28 08:27:34.

Categories
Georgia

Georgia Income Tax Exemption for Seniors

State of Georgia Income Tax – Retirement Income Exclusion for 2020

*Currently in Georgia at age 62 citizens may exempt retirement income from state income tax.

You don’t have to be retired, just have retirement income which is defined as follows.

Taxpayers who are 62 or older, or permanently and totally disabled regardless of age, may be eligible for a retirement income adjustment on their Georgia tax return. Retirement income includes:

  • Income from pensions and annuities
  • Interest income
  • Dividend income
  • Net income from rental property
  • Capital gains income
  • Income from royalties
  • Up to $4,000 of earned income

For married couples filing joint returns with both members receiving retirement income, the maximum adjustment for that year may be up to twice the individual exclusion amount. Retirement income exceeding the maximum adjustable amount will be taxed at the normal rate.

For the purposes of this paragraph, retirement income shall include but not be limited to interest income, dividend income, net income from rental property, capital gains income, income from royalties, income from pensions and annuities. Up to $4,000 net business income earned by an individual from any trade or business carried on by such individual, wages, salaries, tips, and other employer compensation, shall be regarded as retirement income.

Here is a link to the State of Georgia Department of Revenue about the Retirement Income Exclusion.

This is a major benefit for the state of Georgia seniors and anyone considering relocating to Georgia.  We applauded the state of Georgia for passage of this benefit for the seniors of Georgia. This will be a boost over the long terms to the retirement communities of GA.

*This is our understanding of the Retirement Income Tax Exclusion for the State of Georgia Income Tax. Please check with your tax professional to verify and see how this effects your personal situation. This is not income tax advise.

Originally posted 2020-08-26 05:43:17.

Categories
Senior Living

When is it Time to Put the Brakes on Elderly Driving?

Family Conversations with Older Drivers

senior driving

Our nearby senior community, Somerby of Alpharetta, invited me to a seminar they were giving titled “We need to talk… Family Conversations with Older Drivers” one of several excellent seminars they were giving. This is a good service they are doing and the meeting room was full. Didn’t hurt they included dinner, but the seminar was very professional and included speakers Thomas Corrigan who is a Geriatric Consultant, Mr. Jim Swain an elder care attorney, an Alpharetta police officer, and Ms Deann Young the Somerby representative.

The stop driving seminar was excellent and here are some of the highlights from my notes.

Ms. Young pointed out age alone is not sufficient to make the decision to stop driving.  Their is a post man in Birmingham Al who is over age 90 and still drives his postal route and has never had an accident. Many elderly drives are fine despite the jokes about old drivers.

There was a resident of Somerby who got up to talk about his decision to stop driving.  He and his wife had been living up at Big Canoe when he started having mini seizes, just going blank a couple of seconds.  He got better, then off on on he might have one.  He said he always had a practice throughout his life of arriving early for an appointment and to do that, he had to leave early. So in his mind he certainly didn’t want to hurt or injury anyone, and although he might could continue to drive until something happen, he would stop now. It was not about him, but about other people and their children.  Just like leaving early to keep his appointments, he would stop driving now, maybe early but the safe route.

Elderly Driving

Mr. Swain pointed out most people have been driving longer than they have been married, or longer than their career. It is difficult decision for them to make, to stop driving.

Some facts were presented.  You can’t say when a safe time of time to drive is, accidents happen all the time. An elderly driver has a 66% chance of dying in a vehicle crash. When you are young you can bounce back, but vehicle crashes are more serious to older people.

Age related conditions like macular degeneration and cataracts can interfere with driving.  Your field of vision really goes down hill fast after age 75. Medical factors which impact driving include diminished eyesight and hearing, prescription medications, decreased reaction time, physical flexibility, impaired judgment, dementia and memory loss, increase use of alcohol or OTC medications.

So how do you being a conversation with an older person about whether it is time to stop driving?  Begin collecting information.  Take a ride with the driver. Ask yourself would you let your 5 year old grandchild be in the car with them?  Get a driving evaluation (cost $300-$500)that will test cognition, reflexes, vision, flexibility, and visual attention. Has the Senior been in “close calls” or got lost while driving. Take a walk around their vehicle and look for dents and scrapes. Seniors have may difficulty turning to check over their shoulder while backing up or changing lanes. Has the Senior received multiple traffic tickets or warnings from law enforcement offers? All of these could be warning sign tells about driving problems.

It was pointed out that Seniors are a tough generation and don’t know quit, stop or give up. Later Officer Howard offers that you should talk with Seniors about Retiring from driving -not quitting.

Discussion About Driving

It is good to have the whole family on board before having conversations with the Senior about not driving. Discuss in a private setting. Then maybe the least confrontational relative or friend should begin the conversation about it maybe time to stop driving. Try to be non-confrontational. Encourage the Senior to express their concerns about their driving. Realize but remove the emotion from conversation. Then the whole family could reinforce the conversation.

Maybe give the Senior socially acceptable reasons that they could tell their friends why they stopped driving, like a hip replacement or medications for example. They need to explain why they stopped driving.

Offer up solutions

Other options for getting around could include take a taxi, using senior center vans, home care agency, senior service agencies, public transportation, and family members or neighbors and friends.

New Activities

Some new routines for the Senior that do not include driving may be gardening, spending time with grandchildren, travel, senior centers, family activities.

Positive steps Loved Ones Can Take
Schedule an eye exam with an Ophthalmologist, ask physician if there are assistive devices which could help with driving, have senior undergo a complete physical examination, consider neuropsychological testing if dementia is a concern, review all medications and side effects which could affect driving, arrange for the Senior to take a driver education refresher course through AAA or AARP, offer to pay for a comprehensive driving evaluation.

Professional Help

Doctors can help but it was pointed out they are not going to tell the Senior they can’t drive anymore.  Geriatric Care Manager can assisted as well as counseling professionals, Senior Realtors and certified driving instructor.

Hope this points help if you are concerned about a Senior continuing to drive.

Senior Community Guide

Originally posted 2010-11-08 08:55:35.

Categories
Small Town Living

Small Town Living For All Generations

I usually write about retiring to a small town but there are other groups attracted to small town living.  As John Mellencamp says Some people are born in a small town, live their life in a small town and die in that same small town.

Then there’s a group interested in “lifestyle” that living in a small town appeals to,  brought to my attention by David Carse’s blog post “Small Business – The Solution To The Worlds Woes“.

In the post he touts small living as well as small business.  When you think about it, they kind of go together.

David says  “We made the decision to start our own business as a lifestyle choice. We had come from a big city, where we would commute to work, drop kids at day care, work for some boss in a company culture we didn’t believe in, then off home again, repeat. All so you can buy that expensive house, pay for those child care fees, maybe buy a trinket to put in your house on the weekend.

It all struck us as a bit of a hamster wheel and not really satisfying. With a young family we wanted to spend time with our kids and each other. We also thought – we only have one life, we didn’t want to wake up at 50, finally owning that house and lots of other crap but not knowing our kids.”

Big city living working at a big impersonal corporation and spending your time in the traffic getting to your cubicle was not the kind of life David wanted.

David continues “We started this business in early 2009 after the first GFC. We saw a need in the region and built up the courage to go out on our own. It has been hard, but in 3 years we now have over 115 websites and some wonderful clients.

During these 3 years of business I have been involved with many other businesses, discussing what they do, who they employ, who their customers are. The vast majority of my clients are small/micro business, under 20 employees. The thing I have noticed is these businesses are the lifeblood of their towns and communities. It is these, commonly family run, businesses that create an income for themselves, employee others and create something of value in their community. I really respect these clients, and some of them are 2nd and 3rd generation businesses.”.

So out of the big city to a small town community and from the big corporation working for the man to your own small business that is part of your town and community is more to David lifestyle likening.  He points out that shopping locally with real people and family businesses is giving back to your community.

Finally David says “You could take it a step further, if you are employed by a large corporation, consider downshifting to a rural community and contributing to a smaller local business. You would be amazed at how affordable housing is and what a pleasant lifestyle these rural towns can provide.”

It is clear that small town living appeals across generations for the same reasons that we tout small town retirement living.  Thanks for our insight David.

Originally posted 2011-11-20 11:22:51.