2012 Social Security Benefit Increase

Finally!  An increase is coming to
Social Security Benefits.
photo by Wikipedia.com/commons

Good news for recipients of Social Security.  After having gone without any increase in benefits since January, 2009, the Social Security Administration has announced that recipients will receive an increase of approximately 3.6% in January, 2012.  Since the average Social Security payment is $1,082, a 3.6% increase averages out to almost $39 a month.  It will vary, depending on whether you get more or less than the average amount of money.  The increase will apply to both retirees and disabled recipients.

I have a number of friends and neighbors who have been living on a fixed income the past few years.  Several of them are either totally dependent on Social Security, or it makes up a large part of their income.  This increase, although small, will provide them with some help. 

The reason that there has been no increase during the past two years is because the official rate of inflation was considered too small.  Only twice since 1975 have Social Security recipients gone without a Cost of Living Increase ... and that was in the past two years.

It is important to also note that the increase in benefits will be partially lost because Medicare premiums are expected to increase by around $3 to $8, and these premiums are deducted from Social Security payments.

Continue to stay up to date with your retirement planning.  You may be interested in following this blog by email, or reading the articles listed in the sidebars.

Get more retirement information at http://baby-boomer-retirement.blogspot.com/

Top Places to Retire by U.S. News

Beautiful Arizona is
One of the Best Places to Retire
photo by public-domain-photos.com

How much thought have you given to where you are going to retire?  It seems as if every few days another news source comes up with their own list of the best places to live cheaply, or the best retirement communities with a low crime rate.  Below is a summary of a list of wonderful retirement areas that was released by US News and World Report in an article written by Emily Brandon on October 17, 2011. Although this was a few years ago, these areas remain excellent choices for retirees who are looking at a variety of retirement options.

The criteria used by U.S. News when they compiled this list included cities that have good weather, affordable houses and other real estate, as well as plenty of activities to keep you busy and interested in life. 

Based on their list, here are the top places you may want to settle during the Golden Years of your life:

Flagstaff, Arizona
Boone, North Carolina
Traverse City, Michigan
Walnut Creek, California
Ithaca, New York
Lincoln, Nebraska
Pittsburgh, Pennsylvania
Port Charlotte, Florida
Pittsfield, Massachusetts
Santa Fe, New Mexico

Of course, these are just suggestions.  What is particularly appealing about this list is that it includes a number of mid-sized towns from a variety of regions of the United States.

Baby Boomers will not want to limit their choices only to this list, however.  There are a number of other communities that also could be desirable, depending on your interests.

If you are looking for more places to retire, you will want to use the tabs or pull down menu at the top of this article to find links to hundreds of other articles about great places to retire in the United States or overseas, health issues to consider, financial planning and more.

Your may also want to check out these blog posts for other areas that have been recommended by various groups:

Living on Social Security in the US
http://baby-boomer-retirement.blogspot.com/2011/10/living-on-social-security-in-us.html

Cheap Places to Retire
http://baby-boomer-retirement.blogspot.com/2011/09/cheap-places-to-retire.html

Finding the Best Places to Retire
http://baby-boomer-retirement.blogspot.com/2011/09/finding-best-places-to-retire.html

You are reading from the blog:  http://www.baby-boomer-retirement.com

Living on Social Security in the US

Beautiful meadows and charming towns
are available near retirement communities!

Are there places in the United States where a couple can live a middle class lifestyle on their Social Security, alone?  According to U.S. News, there are actually a number of communities scattered throughout this country where couples can afford a home and live comfortably on the average amount of Social Security. 

In order for U.S. News to come up with their list, they based their income assumption on an average Social Security Benefit of $1,179 per retired person in the United States as of March, 2011.  For two people, this comes to a household income of $28,296 a year.  (Since 2011, Social Security benefits have increased by a few percent and the average retiree is actually earning a little over $1,200 per month.  The communities on this list continue to be affordable for those retirees, on an inflation adjusted basis).

The researchers looked for communities in the United States where the median household income was lower than $28,000.  The cost of living in these communities has increased a few percent over the past few years, but so have Social Security benefits. 

Below is their list of towns from coast to coast that would be affordable for the average couple living on Social Security alone.

Where to Retire on Social Security Alone

Auburn, Alabama (median household income of $21,630)
Blacksburg, Virginia (median household income of $26,792)
Boone, North Carolina
Cheney, Washington
Mt. Pleasant, Michigan ($27,621)
Murray, Kentucky ($27,842)
State College, Pennsylvania ($23,800)
Sunland Park, New Mexico ($23,225)
Syracuse, New York ($27,475)
West Lafayette, Indiana ($26,000)

I listed the median household income for these communities, when it was included in the article. Several of these communities are college towns, including charming Blacksburg, Virgina, which is the home of Virginia Tech. They are also dispersed throughout the United States, so it is possible you could find one that is not too far from your friends and other members of your family.  If you expect to be living on the typical amount of Social Security, and you are worried about where you can afford to buy real estate and retire, you may want to do more research on some of these communities and select one that is best for you.

In addition, you may want to read  "Finding the Best Places to Retire" http://baby-boomer-retirement.blogspot.com/2011/09/finding-best-places-to-retire.html, "Cheap Places to Retire" http://baby-boomer-retirement.blogspot.com/2011/09/cheap-places-to-retire.html, or any of the other articles listed in the archive section in the sidebar, or under Popular Posts at the bottom of the page.

If you are interested in more retirement ideas, use the tabs or pull down menu at the top of this article to find links to hundreds of additional articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com

(Photo of meadows taken by Author, Deborah-Diane, near Laguna Woods Village, California)

Baby Boomers Spur Job Growth

Care Givers & Medical Careers
are increasingly in high demand.
Photo by morguefile.com

Baby Boomers are spurring job growth in the economy, whether we realize it or not.  Although many Baby Boomers are having a difficult time deciding on new careers to pursue in our 50's and 60's, we are beginning to create jobs for young adults.

According to research using Bureau of Labor Statistics data and completed by the website "Main Street," the careers where job growth is expected to be greatest between now and 2018 are primarily connected to health care ... and which group is going to need health care more than retirees?

The anticipated top career of the future is Biomedical Engineer, followed by Network Systems Analysts, Home Health Aides, Personal & Home Care Aides, Financial Examiners, Medical Examiners, and Physician Assistants.  Some of these careers are expected to have high job and income growth in the next decade. Of these seven fast growing career opportunities, five are connected to the medical field.

Two of these careers, in particular, have to do with assisting senior citizens ... Home Health Aides and Personal & Home Care Aides.  These aides are the people who will make it possible for many of us Baby Boomers to remain in our own homes as we age.  Home health aides earn money by helping people take care of their daily living needs and handle basic medical care.  These careers are expected to see substantial job growth over the next 10 years.

In addition, as we give up our jobs, Baby Boomers who leave the business world create job openings for future generations in a wide variety of careers.  Who knows? Perhaps we Baby Boomers will provide the engine to stimulate the economy as we begin to retire during the coming years ... both by giving up our current jobs and creating demand for assistance in the future.

For more information about retirement and Baby Boomers, use the tabs or pull down menu at the top of this page to find links to hundreds of additional articles about where to retire, retirement careers, medical issues, financial planning and more.

If you are interested in retirement information, read http://www.baby-boomer-retirement.com

(Source: "The Cities with the Jobs of the Future" by Seth Fiegerman on Main St.  Provided by Yahoo Finance.  10/9/11)