How to Collect Social Security and Retire Overseas

If you are thinking about retiring to another country, one of your concerns may be how to get Social Security overseas.  First, I want to assure you that it is possible to receive your benefits and that many Americans around the world are living comfortable lives on their American Social Security benefits.  However, you will want to check everything out carefully to avoid any unnecessary complications before you make the commitment to move to another country.

Key Points to Know About Collecting Social Security Abroad

The Social Security Administration will provide you with their Publication No. 05-10137 entitled "Your Payments While You Are Outside the United States."  You can get it on the Social Security Administration website at www.ssa.gov.  I suggest you read it carefully and I am not going to attempt to rewrite the entire brochure in this post.  However, here are some of the key points you will need to know:

You can get your benefits in nearly any other country, although there may be special procedures you will have to follow.  For example, if you are in certain countries you will have to go to the U.S. Embassy or consulate to pick up your checks.

Currently, you cannot receive payments if you move to Cuba, North Korea, Cambodia, Vietnam or some of the countries that make up the former Soviet Union.

Retirees who move to Armenia, Estonia, Latvia, Lithuania and Russia can receive their checks, but they fall into the category of places where you will need to pick up your checks at an embassy or consulate office.

The list of countries that have these restrictions changes from time to time.  You can always get the most curent information on the Social Security website.  If you are moving to a location that has had a checkered relationship with the U.S. government, you will want to contact your local Social Security office and investigate how you will receive your benefits before you make the move.

If you move to another country and get dual citizenship in that country, while retaining your U.S. citizenship, you can continue to collect your benefits.  There is also a long list of countries on the site where you can become a citizen of that country alone and still receive your U.S. benefits; examples that fall into this category are Austria, Canada, France, Israel, Japan, South Korea and the United Kingdom.  If you are considering becoming a citizen of another country and dropping your U.S. citizenship, you will want to check the Social Security website first to make sure the country where you will be living is on the approved list.

Survivor and Dependent Benefits

If you are receiving your Social Security benefits as a dependent or you are getting widow's survivor benefits, it is possible that you will not be able to continue to collect those benefits if you continue to live overseas after the primary beneficiary dies.  There are special requirements that you will need to meet and you should check with the Social Security office to make sure you meet these requirements.

Direct Deposits vs. Checks

While you are living in another country, you can arrange to have your payments deposited in a bank in the United States or in the country where you are now living.  There are advantages to having direct deposits that go into a U.S. dollar account, since you can avoid currency conversion and other fees.

Income Taxes on Your Benefits

Your benefits are subject to the same taxes you would have to pay if you lived in the United States.  The amount of taxes you will pay depends on the amount of other income you have.  If you are living on Social Security alone, you will probably not owe any taxes on your income.  If you have tax free income, such as distributions from a Roth IRA, you will probably not have to pay.  However, if you are receiving distributions from a traditional IRA or income from other taxable sources, your benefits could be subject to Federal income tax laws.

In general, Social Security benefits from the United States are tax free in many other countries as long as we have a tax treaty with that country.  If you live in a country without a tax treaty, your benefits might be taxed by that government.  In addition, if you have become a citizen of another country, you may be expected to pay taxes to the government of that country.  You will want to investigate the tax consequences of any move to another country.

Reporting Requirements

When you live in another country and collect your U.S. benefits, you need to keep the Social Security Administration informed of changes in your family status such as a marriage, adoption of a child, a child who becomes 18,  a child who is or becomes disabled, an annulment or divorce, a change of address, and similar events that could affect your eligibility or the eligibility of your dependents.  The SSA will send you a questionnaire periodically.  However, if there are changes, you should not wait until the next questionnaire to report them.

Medicare

You will not be covered by Medicare in another country.  If you do choose to sign up for Medicare, it will only provide you with coverage when you are in the U.S.  However, you may still want to sign up while you are living abroad because your premiums will go up by 10% a year for each year you remained out of the U.S. and were not enrolled.  If you come back to the U.S. in your later years, your Medicare premiums will be substantially higher if you have not been paying them all along.  The decision is up to you, but it is something you should consider when you turn 65.

It is not unusual for people to decide to go ahead and have their Medicare premiums deducted from their Social Security checks and, in addition, buy an insurance policy in the new country where they are living.  In many cases, medical insurance is quite inexpensive in other countries.  In this way, the retirees are covered in their new country and they have basic Medicare coverage when they are visiting family in the U.S.  They also will be able to keep the lowest Medicare premiums if they choose to return to the U.S. permanently.

If you are currently making retirement plans, you may also want to read other posts from this blog.  They are listed and linked in the index articles below:

Gifts, Travel and Family Relationships

Great Places for Boomers to Retire Overseas

Great Places to Retire in the United States

Health and Medical Topics for Baby Boomers

Money and Financial Planning for Retirement

Resources:

http://voices.yahoo.com/what-social-security-benefits-if-retire-1567559.html

http://www.ssa.gov

Social Security Administration Publication No. 05-10137 "Your Payments While You Are Outside the United States"

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

Photo of sample Social Security card is courtesy of wikimedia.org/commons.

Senior Hunger is a Growing Problem

Recently, the newspaper in our California retirement community contained two letters to the editor that distressed me.  The letters exposed a serious problem that has been going on right under my nose, not only in my own area, but in communities across America.

In the first letter to the editor, a woman wrote in to say she had discovered that one of her neighbors was eating pet food in order to survive.   The woman who wrote the letter expressed her shock that such a thing could be happening in affluent Orange County, California and she was distraught that she had neighbors who could not afford to buy fresh, healthy food.

A week later, a local church wrote their own letter to the editor.  They were reaching out to our community with the news that they operate a well-stocked food bank in the neighborhood and that they would happily provide food to anyone who was having difficulty obtaining food.  They mentioned that they could provide both basic staples as well as fresh fruit and vegetables.

These letters were particularly interesting to me since our community requires that residents prove they have a household retirement income of at least $42,000 (in 2013), as well as substantial assets in addition those required to make their home purchase.  New residents must provide this financial information before they can purchase a home in our age restricted community.  Of course, the income and asset levels are adjusted every few years and they were much lower a decade or two ago.  Sadly, even people who had adequate financial resources when they originally moved into the community may have eventually found themselves under financial stress after 30 or 40 years.  Over the decades, assets can easily be used up and cost of living increases do not keep up with inflation.

After reading about hunger in my own neighborhood, I began to wonder how common it is for senior citizens to be experiencing food shortages across the United States.  I thought my readers who are newly retired or who plan to retire soon would also be interested in this information.

Senior Hunger Facts from Meals on Wheels

According to Meals on Wheels, in a report released in May of 2012, hunger is a serious problem among the elderly:

One out of seven seniors is threatened by hunger.
8.3 million seniors were threatened by hunger when surveyed in 2010.
Hunger among the elderly has increased 78% since 200l, and 34% since 2007.

Meals on Wheels is one of several programs that has been organized to help millions of people eat a more healthy diet while continuing to live in their own homes.  This worthwhile organization welcomes volunteers and may be able to assist you if you need food.

If you want to find a local chapter, you can go to the Meals on Wheels website at:  http://www.mowaa.org

For those who are able to help, you may want to make a donation to this worthwhile organization or volunteer to deliver food to senior citizens in your community.  My own grandmother delivered Meals on Wheels when she was in her 80's!  I have several neighbors who also deliver meals throughout our neighborhood ... which makes it all the sadder when I realize that there are still people living here who slip through the cracks.

Feeding America Also Helps Senior Citizens

Another organization that is attempting to provide food assistance to the elderly is Feeding America.  They serve about three million elderly people every year.   They have several different programs designed specifically to help feed senior citizens:  brown bag lunches, senior nutrition sites (such as local senior centers where lunch is served) and home delivered meals that are coordinated through organizations such as Meals on Wheels.

The seniors who use these programs often have reported that, without the help, they would have to choose between either buying food or medicine or paying their utility bills.

This one fact from the Feeding America website was of particular interest to me:  They expect the number of food insecure seniors to increase by 50% by the time the youngest Baby Boomers reach age 60 in 2025.   In other words, millions of my fellow Baby Boomers are expected to be living with "food insecurity" during their retirement years.  That is the primary reason I posted this article.  Should you find yourself in this situation, I hope you will have this information at your fingertips so you know who to contact for help.

How To Make Sure There is Enough Food for the Seniors You Know

For senior citizens, the hunger problem is particularly complex.   That is because their problem may not be a lack of money for food, but an inability to drive to the store or prepare the food. Some elderly individuals with arthritis in their hands find it too daunting to use a can opener or use other items in their kitchen.  Therefore, we cannot assume that our neighbors are eating well simply because we believe they have an adequate income.

First, if you or someone you know is not eating properly, assess the cause and see if you can address the specific problem.  Is it a lack of money, lack of transportation, or an inability to safely prepare the food?

Once you have determined the problem, see what can be done to address it.  For example, if money is an issue, contact your local Social Services department to find out about food stamps.  In addition, locate the nearest food bank and see what supplies are available there. If the problem is transportation, many communities (like my own) have organized programs that match up people who can no longer drive with people who are willing to provide free rides to the store or doctors' appointments.  If it has become difficult to prepare food, contact Meals on Wheels or Feeding America to see if prepared meals can be delivered to your home.  If you do not know how to access these programs, contact your local senior center.  Many of them provide low cost lunches to senior citizens.  In addition, the senior center will be able to put you in touch with local charities and organizations that are available to help.

Senior hunger in America is a problem that we can address.  Let's reach out to our neighbors to make sure they are not suffering needlessly.

If you are interested in learning how to do a better job of preparing for your own retirement, you may want to check out the index articles below.  They each contain links to a number of other articles on that topic.  It is my sincere hope that better long-term planning may help my readers avoid some of the problems mentioned in this article:

Gifts, Travel and Family Relationships

Great Places for Boomers to Retire Overseas

Great Places to Retire in the United States

Health and Medical Topics for Baby Boomers

Money and Financial Planning for Retirement

Resources:

http://www.mowaa.org/about-senior-hunger

http://feedingamerica.org/hunger-in-america/hunger-facts/senior-hunger.aspx

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

Photo of empty plate courtesy of www.morguefile.com

Cresswind at Lake Lanier Active Adult Community

A few years ago, a Baby Boomer couple we know moved from Southern California to Georgia, just outside of Atlanta.  They were attracted there because of the affordable home prices and the fact that their grown children both live on the East Coast.  The longer they have lived in the Atlanta area, the happier our friends have become with their new home and the Georgia lifestyle ... despite the fact that they have had to grow accustomed to periodic thunderstorms, occasional snow and an abundance of mosquitoes!  They feel that the beauty of the area and the relaxed lifestyle more than compensates for those minor hardships.

Although our friends did not move into an over-55 community, it would have been an easy option for them.  One popular retirement community that is located about an hour's drive northeast of Atlanta is Cresswind on Lake Lanier.   Lake Lanier is nestled in the foothills of the Blue Ridge Mountains and is considered one of America's favorite lakes, with several million visitors a year.  The lake has 38,000 surface acres of water and 540 miles of shoreline.  There are numerous golf courses, resorts, restaurants and other recreational facilities located around it.  Being able to retire along the shores of this gorgeous lake is a dream come true for many Baby Boomers.

Amenities at Cresswind

To many retirees, it is not enough to simply have a lake house on the shores of Lake Lanier.  Boomers are also looking forward to an active retirement with a variety of ways to stay busy.  That's exactly what you will find at Cresswind.

Here are some of the features that are making this community especially attractive to active retirees:

Security gated entrance with a stunning waterfall
214 acres of maintained greenspace
Private marina with boat slips for residents
40,000 sq. foot clubhouse
Ballroom
Demonstration kitchen with gourmet cooking classes
Rooftop bar overlooking the lake
Aerobics room
Hobby workshop
Arts and crafts facilities
Learning center
Indoor and outdoor pools
Tennis courts
Walking paths
Billiards
Horseshoe pits
Bocce and pickleball courts
Outdoor movie theatre
Approximately 100 clubs run by homeowners

It is important to note that there is no golf course inside the community of Cresswind, an amenity that many retirees have come to expect.  However, within a short drive there are several gorgeous golf courses that are open to the public.

Home Prices and Features at Cresswind

Home prices range from the low $200,000's to the upper $300,000's for single family homes, which makes this community affordable to many retirees.

Floorplans are available in both two and three bedroom models, some with basements.  Among the features you can expect in your home are:

Granite counters in kitchen
Recessed can lighting
GE appliances
Aritokraft birch cabinetry
Oversized showers
Cultured marble tops in bathrooms
EMC security systems with monitoring included
Shaw Danner hardwood flooring in foyer, kitchen and breakfast rooms
Two car finished garages with LiftMaster garage door openers
Exterior flood lights
3-zone irrigation system             and much, much more!


Because there is no golf course, the monthly Homeowner's Dues are more affordable than in some other communities.  In 2013, they were $269 a month.

Community Recognition

This is an award winning community that has won both local and national recognition:

Named the 50+ Housing Community of the Year in 2012 by the Greater Atlanta Home Builders Association.  The community received awards in several categories, including community, building, and marketing.

Chosen by Where to Retire magazine in their July/August 2013 issue as one of the 50 best master planned communities in the United States.

Contact Information:

If you are looking for a retirement community in the Southern or the Mid-Atlantic states, you will want to pay a visit to Cresswind.  Here's their contact information:

Cresswind at Lake Lanier
3007 Scarlet Oak Lane
Gainesville, GA  30504

(770) 532-4926

www.cresswind.com

If you are interested in reading more about the Georgia lifestyle, tourist attractions and places to visit before making a decision, you may want to use this link to books about Georgia from Amazon.com.

If you are currently making retirement plans, you may also want to read some of the other articles linked in the index articles listed below:

Gifts, Travel and Family Relationships

Great Places for Boomers to Retire Overseas

Great Places to Retire in the United States

Health and Medical Topics for Baby Boomers

Money and Financial Planning for Retirement


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

Photo of Lake Lanier courtesy of www.morguefile.com

Best Companies Offering Jobs for Seniors

Many Baby Boomers are nearing retirement age, only to find themselves unemployed or underemployed at the very time when they planned to continue to work and postpone retirement as long as possible.  If Boomers hope to have a comfortable retirement, most of them need to wait until their mid to late 60's before they collect their Social Security and pension benefits.  However, if someone is unemployed in their early 60's, or barely scraping by in a low paying job, they may begin to feel that they have no other alternative but to give up and take an early retirement.

If this describes your situation, it may help to know that AARP and the Society for Human Resource Management has put together a list of companies that have been recognized as having the best practices for recruiting and retaining mature workers ... those of us who are over the age of 50.

The companies on the list were chosen because they have fair recruiting practices, opportunities for their employees to receive special training, educational assistance and career development, a willingness to put in place workplace accommodations, excellent health, pension and retirement benefits, and a variety of work options including flexible scheduling, job-sharing and phased retirement.  In other words, not only are these great places to work, but they are accommodating about transitioning their employees gradually into retirement.

The Healthcare Industry Has Some of the Best Jobs for Baby Boomers

Insurance companies and healthcare facilities seem to lead the pack as far as offering excellent opportunities for people over the age of 50.  The good news about this field is that many community colleges and trade schools across the nation offer one and two year certification programs to train people to work in a variety of healthcare fields.  Consequently, if you find yourself years away from retirement and you are willing to be retrained, this may be an excellent area for you to pursue.  Over 40 percent of the companies on the AARP list were involved in some aspect of healthcare.

Listed below are the employers who were particularly commended by AARP for their senior friendly employment practices:

National Institutes of Health (NIH)
Scripps Health
Atlantic Health
The University of Texas MD Anderson Cancer Center
Mercy Health System
WellStar Health System
West Virginia University Hospitals
Monongalia General Hospital
TriHealth Inc.
Yale-New Haven Hospital
Department of Veterans Affairs-Veterans Health Administration
Saint Vincent Health System
SSM Health Care
Mountain States Health Alliance
Central Florida Health Alliance
Avera McKennan Hospital and University Health Center
Tufts Health Plan
BlueCross and BlueShield of North Carolina
Ochsner Health System
Massachusetts General Hospital
Pinnacle Health System

If you do not live within commuting distance of one of the above institutions, but you would like to work in the healthcare industry, contact the human resources departments at the insurance companies, hospitals and medical facilities in your community and ask about the opportunities they may have for older workers.

Universities and Colleges

Other organizations that offered great job prospects for people over the age of 50 were institutions of higher learning.  While you may be thinking, "I'm not qualified to be a college professor," universities offer many other types of job opportunities including with their custodial, food services and clerical staffs. Many of these jobs pay well and have good job security.

Here is the list of educational institutions that were recognized by AARP for their great employment opportunities for seniors:

West Virginia University
Cornell University
George Mason University
Swarthmore College
School Board of Brevard County
Massachusetts Institute of Technology (MIT)
University of Pittsburgh
American University

Even if you do not live near one of the institutions mentioned about, if you have another college or university in your community, don't forget to check out their employment opportunities when you are looking for a new job.

Best Private Corporate Employers of Seniors

The AARP and the Society for Human Resource Management also included a variety of private companies in several different industries on their list.  If you live near one of these companies you may also wish to explore your employment options with one of them:

The YMCA of Greater Rochester, New York
Bon Secours Virginia
National Rural Electric Cooperative Association
S&T Bank
FCCI Insurance Group
Stanley Consultants Inc.
Southern Company
Michelin North America Inc.
Cianbro Corporation
Solix Inc.
Securian Financial Group
One Nevada Credit Union
MEI Technologies, Inc.
Coconino County
Winston-Salem Industries for the Blind
Lee County Electric Cooperative
Perkins Cole LLP
CheapCaribbean.com

Federal Agencies that Made the List

There were also a few federal government and regulatory agencies that made the AARP list, in addition to the Veteran's Administration and National Institutes of Health, mentioned above:

Department of the Interior, U.S. Fish and Wildlife Service
Financial Industry Regulatory Authority (FINRA)

Whatever your background, there may be companies in your area that are looking for someone with your skill levels.  Whether you are looking for full-time work or the best part-time jobs for seniors, you will want to pay particular attention to hospitals, colleges, universities, insurance companies, utility companies, federal offices and financial services employers in your community.  These seem to be the types of institutions that have the best attitude towards hiring older workers.

Sources:
  
http://www.aarp.org/work/employee-benefits/info-09-2009/how_best_employers_selected.html
http://www.aarp.org/work/on-the-job/info-06-2013/aarp-best-employers-winners-2013.html

If you are currently making your own retirement plans, you may also want to check out the index articles listed below.  Each one contains an introduction plus links to a number of articles on that topic:

Gifts, Travel and Family Relationships

Great Places for Boomers to Retire Overseas

Great Places to Retire in the United States

Health and Medical Topics for Baby Boomers

Money and Financial Planning for Retirement


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

Photo of National Institutes of Health courtesy of wikipedia commons: http://en.wikipedia.org/wiki/File:NIH_Clinical_Research_Center_aerial.jpg

What to Consider When You Buy a Retirement Home

As a former Realtor, some of the decisions that my buyers made over the years caused me to worry about them.  On several occasions, I tried to talk buyers into purchasing a less expensive home because I was concerned that they were buying something at the extreme upper limit of their budget.  In other cases, I was concerned about the condition of the home they were buying or the neighborhood where they would be living.

Since this blog frequently features different cities, states and retirement communities that may interest those of you who are preparing to retire, this seemed like a good time to discuss some of the issues that buyers need to take to heart before they purchase a home for their retirement years.  As you will see below, no single type of retirement home will be right for everyone.  Some of the items mentioned below will only affect certain people.  However, here are some of the different issues I have noticed over the years.

The Cost of Living in Your Retirement Home

While you may be able to find a low-interest, fixed-rate mortgage or even pay cash for your home, you need to realize that your property taxes, insurance and homeowners dues are going to increase over time.  In addition, your property taxes and dues, in particular, may increase at a faster rate than the cost of living increases on your pension or Social Security benefits.  If you expect to live in your retirement home for ten years or more, the cost of home ownership could become more and more stressful unless you have set aside money or left a little wiggle room in your budget to allow for these expenses.

Maintenance Costs

When my parents left Missouri and purchased a home in Flagler Beach, Florida after they first retired, they loved being across the street from the ocean and enjoyed the wonderful views.  However, they did not count on the extra expenses that residents incur when they live so close to the ocean.  The outside compressor of their air conditioner had to be replaced every few years.  Other items around the house had to be replaced much more frequently than they anticipated, as well.  Eventually, my parents moved to a retirement community that is about 15 miles inland from the coast and they now have much lower maintenance costs.

Maintenance costs can also be high if you buy an older home in a charming historic town.  While you may have always dreamed of living in a gracious old home, it may not be a wise choice for a couple on a fixed income.  While you may plan on doing a lot of the maintenance and repair work yourselves, this can become increasingly more difficult as you age.

Even if you buy a brand new home, you still need to be sure to include home maintenance costs in your budget.  The longer you live there, the more likely there will be issues that will come up.

New Expenses You Never Had Before

If you are moving to a new part of the country, you may discover that you have some large expenses that were either smaller, or non-existent,  in your former location.  For example, if you move to Arizona, your summer air conditioning bill may be quite high.  The reverse is true if you move to a charming mountain community where you need to be prepared for cold winters and high heating bills.  There are also other expenses you should consider. You may want to purchase earthquake insurance if you move to Southern California, or flood insurance if you live in a an area where the rivers occasionally overflow.  Each part of the country has its own unique challenges.

In addition, when you buy special insurance to cover catastrophic events such as floods and earthquakes, you may discover that there are large deductibles.  For example, earthquake insurance usually has a $5000 deductible for your personal property.  If you are concerned about this, you may need to set money aside in a liquid asset account (not your retirement investments) to cover unexpected expenses you may incur in your new location.

Personal Security

I have known of retiring couples who purchased lofts in the downtown area of a major city or purchased homes in eclectic, mixed-used neighborhoods.  Several former retired couples I knew bought townhomes within walking distance of bustling business areas where there were lots of restaurants and bars.  They thought it would be fun to live in such a stimulating area.  Believe it or not, one successful psychiatrist and his wife even bought a townhome in one of these areas despite the fact that a homeless man was sleeping next to the front door when I showed it to them!  They insisted that they looked forward to living in such a "colorful" community.  A few years later, they moved.

While living in these types of neighborhoods may not be a problem while couples are still in the early years of their retirement and they are relatively young and active, this living arrangement could make them much more vulnerable and isolated as they age.  They are also more likely to become the victims of a crime.

Planning Ahead for Health Issues

Are you thinking about buying that two-story home with a basement in a charming old neighborhood?  While this may be your dream home, are the doorways and hallways wide enough to accommodate a wheel chair, should you ever need one?  Can the staircases handle a lift if you eventually have trouble getting up the stairs?  Can you easily add safety features like grab bars to the bathrooms, or does the house have old, plaster walls?

If you dismiss these problems by saying, "We'll cross that bridge when we come to it" or "We'll just move to a retirement community if it becomes a problem," you may want to go ahead and move to that retirement community now and save yourself a move.  Many modern homes in retirement communities are designed to meet the needs of an aging population, while still providing lots of stimulation and neighborhood charm.

Think About Your Adult Children

Why should your adult children be a concern when you buy a retirement home?  There are several reasons.  First, they will not be able to move in with you and stay for more than 60 days if you live in an age restricted retirement community.  This is the federal law that governs these over-55 communities, although there are exceptions if your adult child is disabled, either mentally or physically.  However, if your able-bodied child wants to move back in with you after a job loss or divorce, sixty days is as long as they can stay.  To be honest, many seniors feel that this is one of the advantages of moving to an over-55, age restricted retirement community.  On the other hand, there are people who may actually want to have one of their children move in with them and they should consider this when deciding where to live.  There are many very nice master planned communities that are not age restricted, and these might be a better option for some families.

Even if you are certain that none of your children will ever want to live with you, you need to consider whether or not your dream retirement home is too far away from your children and grandchildren.  My parents moved from Missouri to Florida when they were in their 50's, and they have owned a couple of different homes there over the years.  Now they are in their 80's and really need to have family nearby.  However, they are resisting the idea of returning to Missouri to be near my sister and their other relatives.  Nor do they want to move to California, where I live.  My mother, in particular, is adamant that she wants to stay where she is, despite the fact that they are both in failing health and my mother has developed severe dementia, which may be fueling her anxiety and fear of moving.  My sister plans to force the issue in a few months and it will be difficult.

Retirees need to carefully consider whether they want to live a long distance from their families.  In the early years, it will make it harder to visit grandchildren.  In later years, it will be more difficult for their children to give them the assistance that they may need.

Don't Forget to Negotiate

There is one more issue to consider if you are moving to a new community.  If you have lived in the home where you raised your family for many years, you may not be used to aggressive negotiating when you purchase a new home from a developer.

While you may not be able to get the developer to come down in price, you can frequently get them to throw in a few "goodies" for free or at a discount ... but only if you ask.  I was an on-site agent for a developer for several years, and I want to pass on some practical advice to help you get the best deal possible. Before meeting with the agent, practice sounding a little hesitant about making the purchase.  Don't express too much enthusiasm for the home when the on-site agent is within hearing distance.  Mention other master planned communities in the area that you are considering.  Say things like, "I like this plan, but at that price I don't think I would be able to ......"  Fill in the blank with whatever you want, such as upgrades to your light fixtures, carpet or granite, a hydrotub, enlargements to the patio, or minor alterations to the design.  In order to make the sale, the on-site agent may be authorized to throw in some amenities or upgrades at a discount, or even for free.  However, they won't offer to do this unless you ask or they think a few extras could make the difference in whether or not they make the sale.  It is certainly worth a try!

To get more ideas about purchasing a retirement home, you may want to order the book "Buying a Second Home: Income, Getaway or Retirement" using this link to Amazon.

While you are planning your retirement, you may also be interested in checking out the index articles below.   Each one contains an introduction, plus links to a number of other articles on that topic:

Gifts, Travel and Family Relationships

Great Places for Boomers to Retire Overseas

Great Places to Retire in the United States

Health and Medical Topics for Baby Boomers

Money and Financial Planning for Retirement


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

Photo of homes courtesy of www.morguefile.com