Sunday, October 28, 2012

Social Security Changes in 2013

Moderately good news was announced recently for retirees who are already receiving their Social Security benefits.  Your Social Security benefits are expected to increase by about 1.7% beginning in January, 2013.  If you are working and receiving Social Security benefits at the same time, the size of your check should increase even more than this because of the increased premiums you have been paying into the system during the past year.

The 1.7% increase is not as much as the 3.6% cost of living adjustment that was received in 2012.  However, since Social Security recipients did not receive any cost of living increase in either 2010 or 2011, it is helpful to be getting any increase at all this coming year.

There are other changes to Social Security that we can expect in 2013 that will affect both those who are working and paying into the system, as well as those who are already retired.

Other Social Security Changes in 2013

Unless the government takes steps to change it, the temporary payroll tax cut will expire at the end of this year, meaning that workers will once again return to paying 6.2 % of their income for Social Security, rather than the 4.2 percent that we have been paying for the past couple of years.  For many workers, this will mean a substantial decrease in the amount of their take-home pay.

Another change will affect people who are retired and collecting Social Security benefits but who are younger than their full retirement age (approximately about age 66).  If they are still working and collecting their reduced Social Security benefits at the same time, they will be able to earn $480 more next year before their Social Security benefits are reduced.  In other words, they can earn $15,120 rather than the current amount of $14,640 before their benefits are reduced.  Once retirees reach full retirement age, they can work, earn as much money as they want, and receive their full benefits without a penalty.

Another change that will benefit some retirees is that the maximum possible monthly benefit for someone who waits until their full retirement age to collect their Social Security benefits will increase to $2,533 a month.

Finally, everyone needs to be aware that, as of March 1, 2013, the Social Security Administration will no longer mail out paper checks.  Instead, beneficiaries can choose to either have their payments deposited directly into a bank account, or their funds will be loaded onto a Direct Express Debit MasterCard.  Doing away with paper checks will save the government money and provide a safer way for people to receive their benefits.

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

Photo of old Social Security card is courtesy of www.en.wikipedia.org/commons

Tuesday, October 23, 2012

Aging and Tips to Prevent Hip Injuries


The following information was  written specifically for this blog by the DrugWatch website and I felt it would be helpful information that would interest many Baby Boomers as well as older senior citizens and their families. 

Guest Post on the Prevention of Hip Injuries from DrugWatch

Protecting hip health becomes more important with each passing year. As we age, both muscle and bone mass tend to decline. Muscle weakness in the hips can affect balance, leading to falls. According to the Centers for Disease Control and Prevention, one in three adults over 65 fall each year. Weak bones can make those falls much more dangerous, increasing the risk of hip fractures. Then, there is the daily wear-and-tear, slowly thinning the cartilage that cushions the hip joints, making them more vulnerable to injury and arthritis. Taking good care of your hips can help avoid these problems.

Daily Exercise is Essential to Hip Health

Inactivity speeds age-related bone loss, which can lead to osteoporosis, that brittle bone disease that is at the root of many fractures of the hips and spine in women over 55 and men over 70. Muscles deteriorate quickly without regular exercise, losing mass and strength, affecting balance, endurance and the stability of weight-bearing joints, like the hips and knees, increasing joint wear and the risk of sprains, strains and falls.

On the other hand, making a habit of being active for at least thirty minutes a day, five days a week can keep the muscles surrounding your hip joints strong and supple, maintaining solid support for smooth joint function, balance and stability. Bone-loss can be slowed substantially with regular exercise and even reversed to some extent, since putting a bit of stress on bones each day stimulates increased production of new bone cells to repair and strengthen them. Walking, stair climbing, swimming or dancing will all enhance hip health, so find an activity that you enjoy and get active.

Balanced Nutrition Keeps Bones and Muscles Strong

Poor nutrition is a major risk factor for osteoporosis and can contribute to weak muscles, poor balance, joint deterioration and a long list of diseases and conditions that affect overall health. A balanced diet that includes whole grains, low-fat dairy products, lean proteins and lots of fresh fruits and vegetables is the way to go, and if your appetite isn't what it used to be or you have dietary restrictions, a daily multivitamin with minerals can offer additional nutritional support.

What You Should Know About Hip Replacement

While you can reduce your odds of hip problems or injury, even the most dedicated efforts at protecting hip health can't eliminate risk altogether. Should joint deterioration or injury make surgery necessary for you, there are things you should know about hip replacement to minimize risks.

Hip replacement is generally a very safe procedure and has helped many reclaim their lives after disabling hip problems. However, these procedures have been a bit more troublesome than usual recently, due to issues with faulty hip replacement systems, several of which have been recalled.

Metal-on-metal hip implants have caused most of the trouble, with high rates of implant failures and complications, such as metallosis, a serious problem related to metallic implant debris. An inflammatory condition, metallosis can cause severe pain, tissue death and bone loss at and around the implant site, often leading to implant loosening or failure and revision surgery.

Elizabeth Carrollton uses her background in journalism to write for DrugWatch.com. She is dedicated to educating the public about medical safety and important decisions that can impact a person’s health and life. Much of her work includes editorials pertaining to hip replacements and alternatives to relieve pain, as well as complications and hip recall lawsuit information.
You will find other articles about maintaining good health and personal safety throughout this blog.  Use the tabs or pull-down menu at the top of this article to find links to hundreds of additional helpful articles.
You are reading from the blog http://www.baby-boomer-retirement.com
This article and the accompanying picture are courtesy of www.DrugWatch.com 

Sunday, October 21, 2012

Niche Retirement Community for Rock and Roll Musicians

It is very rare for me to include a guest post on this blog.  However, this week a reader named CAD Man on the SodaHead website left a long comment at the end of my blog post on "Finding Niche Retirement Communities."  It was interesting enough that I thought it was worth it to offer it to my readers as a separate post.  Otherwise, very few readers would actually see a comment on a post that was written last spring.

The basis of his idea is the dream of creating a niche retirement community called "Rock Till Ya Drop."  I have included a link to help my interested readers find more information about it at the end of his guest post.

I'm not sure how he would go about buying and developing the land to create this niche retirement community.  When you read his full post, you will discover that he envisions homes, townhomes, condos and apartment houses, as well as restaurants, shops and bars.  It is a complex development. I know that my own brother-in-law, who is also an old rocker, used to spend a lot of time living in his RV at Slab City next to the Salton Sea in the Southern California desert.  There he was able to connect with many other Rock and Roll musicians and spend his winter evenings jamming with them.  However, Slab City is nothing compared to what CAD Man would like to create.

Perhaps one of the developers of niche retirement communities will see CAD Man's concept and decide to build a version of it.  If you think it is a place that sounds like the perfect retirement community for you, you may want to weigh in on it.

Keeping all this in mind, here's a re-print of the first part of the creative concept that CAD Man has for a retirement community that is sure to appeal to a certain niche market of Baby Boomers.  Out of respect for the SodaHead website, if you want to read more you will have to click on the link at the end of the post.  In addition, because CAD Man had reprinted his entire SodaHead post as a comment on my blog, I was forced to delete his comment from the Niche Retirement Community article to avoid accusations of plagerism.  However, I thought it was only fair to give CAD Man's idea a voice here.

The Rock Till Ya Drop Retirement Community

"We've been tossing around (for 6+ years) a concept for a retirement community called the 'Rock Till Ya Drop'

If you don't minding reading, you may find our thoughts interesting... enjoy.

Being a part-time musician and full-time lover of live music, I've been rolling this idea around in my head for the last 5 years and it's time to set it free... Why not band together with other musicians, artists, and anyone who truly loves live music and the arts to build the 'Rock Till Ya Drop' 55+ community (RTYD for short).

Here's the vision...

Build a small community (800-1000 residents) of various types of dwellings (single family homes, town homes, row homes, lofts, commune homes, and rental apartments) around an old-fashioned town square. The square would be built around a multi-purpose performance venue ..."

If you are interested in this niche retirement community, you can read more about it on SodaHead's webpage at:

http://www.sodahead.com/living/the-rock-till-ya-drop-would-this-be-a-cool-retirement-community/question-3201317/

If you are looking for interesting places to live after retirement, you may also be interested in reading:

Finding Niche Retirement Communities
Retirement Community Amenities
Simplifying Your Life for Retirement
The Best Sunny Places to Retire
Best Places to Retire Outside the US

You are reading from the blog:  http://Baby-Boomer-Retirement.blogspot.com

Photo of rock musician courtesy of www.morguefile.com

Thursday, October 18, 2012

Best Places to Retire on $40,000 a Year

With 10,000 Baby Boomers a day turning 65, there is a growing demand for affordable places to retire.  Many members of our generation will have very little retirement income other than their Social Security benefits.  However, this does not mean that Baby Boomers plan to spend their senior years living in poverty.  They do have options.

The good news is that many couples will have a total retirement income of around $40,000 a year, which is more than enough for a couple to live and enjoy life in any of the cities listed in this article.  In order to reach the goal of $40,000 a year, the primary breadwinner's Social Security benefits should amount to around $2200 a month, with their spouse receiving an additional $1100.

Single retirees who live together with a partner, friend or relative can also achieve a combined Social Security income of approximately $40,000 if each of them has a Social Security benefit of about $1670 a month.  This is not an unreasonable amount for people who have worked most of their lives, or widows who are receiving benefits based on the income of a deceased spouse.  At this income level, there are many affordable and pleasant places where retirees might choose to live.

Best Affordable Retirement Cities

According to U.S. News, here are the best places to retire if you have a retirement income of $40,000 or less.  I have spent time in several of these cities, and have added my own comments about those locations.

Albuquerque, New Mexico -- We used to take our family to the mountains around Albuquerque and vacation in the surrounding towns of Pueblo, Red River and Angel Fire.  Although the area can get chilly in the winter, it is pleasant, although sometimes quite hot, in the summer.  Daytime highs in December and January range from the mid 40's to the mid 50's.  Highs in the summer tend to be in the 90's, although night temperatures drop to the 60's and 70's, making the summer evenings and mornings quite pleasant. Home prices and rentals are very affordable.

Augusta, Georgia -- This is a beautiful, charming Southern city.  It generally has a mild climate, with numerous golf courses and other amenities in the area.  At the same time, it is surprisingly affordable.

Columbia, South Carolina -- Another Southern City with a mild climate.  However, South Carolina also gets hot in the summer.  On the other hand, many retirees who are finding Florida a bit too hot for their taste are discovering that both South and North Carolina have milder weather and, in many cases, are more convenient to other family members who live in the Northeast.

Jackson, Mississippi -- A very affordable city in the deep south.  Mississippi is another popular warm weather location with mild winters.  Mississippi is an exceptionally inexpensive place to retire. 

Knoxville, Tennessee -- This is a thriving, modern city.  It is similar to Lousiville, Kentucky (mentioned below), but it is further south and has a somewhat milder climate. Tennessee, Arkansas and Kentucky are all beautiful states with many charming small towns.  Anyone who is considering one of these cities should also explore the surrounding towns.

Little Rock, Arkansas -- Arkansas is a beautiful and extremely affordable state.  Like Tennessee, Kentucky and Mississippi, Arkansas has a large number of very affordable residential areas.  If you find a home near activities that interest you ... such as lakes or golf courses ... you can have a very pleasant retirement at an affordable price.

Louisville, Kentucky -- One of our daughters lived in this lovely city for several years.  The citywide celebration that takes place during the period of time leading up to the Kentucky Derby is delightful, including a massive fireworks display at the riverfront.  The city has colleges, a beautiful riverfront, museums, theaters and plenty of activities for the entire family.  Rents are quite low.   U.S. News estimated that the average senior citizen pays about $600 in monthly rent in Louisville.  Our daughter rented a lovely two-story, three bedroom townhouse in a very nice part of the city for under $1000 a month.

Pittsburgh, Pennsylvania -- Another one of our daughters lives in rural Pennsylvania.  It gets quite cold in the winter, with a lot of snow.  However, it is a very affordable place to live, and there are many fun amenities in Pittsburgh including live theater, sports teams and an abundance of restaurants and bars.

St. Louis, Missouri -- I grew up in a suburb of St. Louis, and still have relatives who live there.  It is a very affordable city with a thriving nightlife, including riverboat casinos, restaurants, bars, and sports venues.  The Mississippi riverfront attracts tourists as well as local residents.  It received a lot of bad press in the past view years because of rioting in Ferguson.  However, those events did not affect the majority of people who live in the St. Louis area.

San Antonio, Texas -- This is one of my personal favorite retirement cities, especially if you prefer a warmer climate.  The Riverwalk area of San Antonio is across the street from the world famous Alamo mission.  It is a lovely location to take a walk, stop in a sidewalk cafe, and watch small boats cruise by.  There are 11,000 acres of parks in the city, and over 50 golf courses.  Homes are very affordable, and rents for retirees average about $800 a month.  San Antonio is also a city that has come up several times on the the top retirement lists of other organizations.

Remember, whether I have personally been to these cities or not, all of them were listed by U.S. News as great places to retire on an income of $40,000 a year.  Since this income is within the means of many Americans, even those living on Social Security alone, these are certainly locations that many Baby Boomers will want to consider.  Your final decision may be based on many factors including climate and proximity to your adult children or other family members.

In addition to these cities, you may also want to explore some of the small towns in the same states.  Often, the small towns are even less expensive than the cities and can be quite charming.

If you are interested in learning about other places to retire or other retirement information, use the tabs or pull down menu at the top of this page to find links to hundreds of additional articles.

You may also be interested in reading:

The Best Sunny Places to Retire
Best Places to Retire Outside the US
Cheap Places to Retire
Finding the Best Places to Retire

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

Photo collage of Albuquerque is courtesy of www.en.wikipedia.com/commons