Financial $tuff

Pay gap major cause for retirement insecurity

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pay gap
sbeconomic.com

Women more likely than men to face poverty during retirement

by Adam Allington, Associated Press

July 10, 2016

CHICAGO — “During their working years, women tend to earn less than men, and when they retire, they’re more likely to live in poverty.

These are women who raised children and cared for sick and elderly family members, often taking what savings and income they do have and spending it on things besides their own retirement security.

The National Institute on Retirement Security, a nonprofit research center, reports that women are 80 percent more likely than men to be impoverished at age 65 and older. Women age 75 to 79 are three times more likely.”

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Making money last in retirement

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By Adam Zoll | 03-21-2015 09:00 AM

Source:  http://morningstar.com

Note:  Not a live video as the host states.  It is a recorded version.

Do you have your NPS Senior Pass?

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The National Park Service (NPS) is celebrating its 100th birthday today!  

You can enter any of the 412 national parks for free from August 25 through August 28.  Seniors can celebrate for a lifetime with a NPS Senior Pass.  Here are the specifics from the National Park Service website:NPS Senior Pass

  • $10 Lifetime NPS Senior Pass
  • For U.S. citizens or permanent residents age 62 or over.
  • May be obtained online, in person at a federal recreation site or through the mail using this application form. The cost of obtaining a Senior Pass through the mail or online is twenty dollars ($20). Ten ($10) for the Senior Pass and ten ($10) for processing the application. Applicants must provide documentation of age and residency or citizenship.
  • May provide a 50 percent discount on some amenity fees charged for facilities and services such as camping, swimming, boat launch, and specialized interpretive services.
  • Generally does NOT cover or reduce special recreation permit fees or fees charged by concessioners.
  • Note: Golden Age Passports are no longer sold. However, these passes will continue to be honored according to the provisions of the pass.

For more information or questions go to:  http://store.usgs.gov/pass/senior.html.

Kiplinger’s Social Security Strategies

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Social Security Strategies if You’re Widowed

“A survivor benefit is worth up to 100% of a deceased spouse’s benefit.

You’re eligible for a survivor benefit based on your deceased spouse’s earnings. You can claim this benefit as early as age 60, or 50 if you’re totally disabled. The amount is based on your late spouse’s benefit when he or she died. If your spouse died before claiming Social Security, the benefit will be based on 100% of the amount due at your late spouse’s full retirement age.”

Read the entire article

Social Security Strategies if You’re DivorcedSocial Security strategies

“Meet certain criteria and you may qualify to claim a benefit off an ex-spouse’s earnings record.

…In order to claim either spousal or survivor benefits, you must have been married for at least 10 years and not be entitled to a higher benefit based on your own record. In addition, you must be at least 62 and unmarried.”

Read the entire article

Social Security Strategies if You’re Single

“There are steps singles can take to boost their benefits.

…Single retirees who never married don’t need to concern themselves with survivor benefits — benefits will end when they do. That gives single beneficiaries a less compelling reason to postpone claiming benefits after full retirement age, says Marc Kiner, co-founder of Premier Social Security Consulting in Sharonville, Ohio.”

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Social Security Strategies for Married Couples

“Spouses can boost their benefits by coordinating the timing of their claims.

Married beneficiaries can claim benefits based on their own earnings record or choose to receive up to 50% of the amount for which their spouse is eligible at full retirement age.”

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All four of these articles are by Sandra Block, from Kiplinger’s Personal Finance, January 2015.

Places to retire for good health

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places to retire

From the Editors of Kiplinger’s Personal Finance…12 Great Places to Retire for Good Health

July 2016

“The most important component of a happy retirement? It’s not financial security (although that’s nice to have) or proximity to family and friends. It’s good health.

With that in mind, we chose retirement destinations that are havens for healthy living, with lots of opportunities to pursue an active lifestyle and great medical facilities. Using data provided by Trulia, the online real estate marketplace, we identified neighborhoods that have quiet streets, trails, parks, golf courses and other amenities, and easy access to hospitals and pharmacies.

Our destinations span the country and range from walkable neighborhoods in big cities to small towns with top-ranked hospitals. Most of our neighborhoods are in cities with good air quality (which is why you don’t see any Southern California cities on the list) and low crime rates. And with the exception of Omaha and Billings, all are in states that are tax-friendly or tax-neutral for retirees. We’ve listed them from smallest to largest population.”

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