Yesterday, Marcie talked about encountering elder paranoia, no free lunches, professionalism and differences in dress habits of the young and old. Here is Part 2:
On March 7 RLTV will broadcast a special report on the changing nature of retirement in the US, in particular the impact of the current economic climate on retirees.
We all deserve to live our lives knowing that an elderhood free from the most pressing cares and gifted with the self-respect that accompanies autonomy can be ours.
In a day and age when fewer and fewer people have a pension and many people don’t have a lot socked away for retirement, it’s becoming increasingly critical that you calculate the best time and strategy for you and (if you have one) your spouse to take Social Security.
So my wish for you is this: Get the timing right.
Once your nest egg has reached your mental “magic number” — $500,000? $1 million? $5 million? – it’s tempting to start to fantasize about an early retirement. Before you do, you may want to test-drive MarketWatch’s “How Long Will My Money Last?” calculator.
Through extended visits to The Villages, Sun City and Youngtown, Arizona, Andrew Blechman’s book, Leisureville: Adventures in America’s Retirement Utopias reveals the lives of those who have embraced the rising trend of segregated (often gated) communities for older adults (the new marketing term is “age-preferred”).
Personally, should I be asked to forgo a modest amount of my promised SS benefits to keep the system solvent, I will consider it a patriotic sacrifice by one who has benefited handsomely from the American free-market economy.
In an editorial in the NYTimes Sunday Review (7/29/12), Thomas Friedman lays out the financial dilemma we face in long term care. The bottom line? A frightening percentage of Americans do not have the money to retire, much less pay for … Continue reading →