Advice & Tips Archives - Page 5 of 5

5 Career Options for Retired Individuals

Posted - April 10, 2014

5 Career Options for Retired Individuals

Retirement means something completely different for most people now than it did one or two decades ago. Instead of people aiming to retire to a warm destination to play golf all day, retirement now means starting a new business or pursuing a passion that there wasn’t time for previously due to work and other obligations. What are some great career options for those who are retired?
Start a Writing Career
It is never too late to begin a writing career. Regardless of whether someone has been


11 Ways to Pay For Home Healthcare

Posted - December 16, 2013

Robert Kane and Dennis Loxton Join AAG National Field Sales Team - American Advisors Group

For seniors in retirement who need assisted care, most do not want to be away from home for long periods of time. When searching for alternatives to nursing homes or other care facilities, in-home health care often emerges as the preferred option.  Home health care in retirement is defined as the health care service that is given to you in the comfort of your home rather than in a facility.  It is usually medical in nature and involves the expertise of health professionals like nurses and


5 Best and Worst States for Retirement Income

Posted - June 11, 2013

According to an analysis performed by using data from 2011 U.S. Census Bureau, the annual median income of our nation’s seniors is approximately $35k, less than 60% of those ages 45-64. CNNMoney reports that Nevada and Hawaii are the only two states where senior income meets the recommended 70% replacement of pre-retirement income.

Top 5
1. Nevada
2. Hawaii
3. Arizona
4. New Mexico
5. Florida

Bottom 5
1. New Hampshire
2. New Jersey
3. Rhode Island
4. North


13 Retirement Savings Myths

Posted - May 20, 2013

Business Insider debunks 13 common beliefs people have on saving for their retirement. A few that made the list includes assuming you can get by in retirement with less income, the ability to postpone retirement and continuing to work until your early 70’s, and relying on Medicare for long-term health care needs.

Read the full


10 Best U.S. Cities to Retire In

Posted - March 27, 2013

NerdWallet, a financial advice website, compiled the list by analyzing the 50 most popular U.S. cities on factors considered most important to seniors when looking for a place to retire.

Each city was given a score based on 6 categories: cost of living, cost of assisted living, affordable healthcare, existing senior population and social life, warm weather, and walkability. With 16% of the city’s population being over 62 years of age, Miami, FL is the sunny city that wins as the most


NY Times: A Choice of Community Care, in Your Own Home

Posted - September 18, 2012

New retirement communities, continuing care retirement communities or C.C.R.C., are popping up across the country.

A C.C.R.C is a continuing care program without walls. Members pay an entry fee ($20,000 to $70,000) and monthly fees ($250 to $800) and receive a guarantee of lifelong care. The catch, a good catch, is that these programs are helping people stay healthy and age in place for as long as possible.

Most of the programs cover the cost of in-home care, e.g., care professionals who


CBS Boston: Is A Reverse Mortgage Right For You?

Posted - June 13, 2012

Dee Lee, Certified Financial Planner, explains how reverse mortgages are becoming a better financial product causing them to become more popular. There are pros and cons to a reverse mortgage and they are not for everyone, but those people the product is suitable for are staying in their homes and are financially more independent.

A reverse mortgage can provide the cash some seniors need to maintain their lifestyle or make repairs/modifications to their home so they can age in place. There


Center for Retirement Research: How Important is Asset Allocation to Retirement Security?

Posted - June 1, 2012

In a recent research brief released by the Center for Retirement Research at Boston College, the research team posits that those nearing retirement should worry less about asset allocations and look to other more effective tools including reverse mortgage loans.

Investing money wisely is obviously very important, but the fact is that many Americans have little savings. The typical household approaching retirement has less than $100,000 in 401(k) and other financial assets, which means that

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