Retirement

Pray, Montana, for Sale for $2.6 Million

Lifestyle, Retirement

Somewhere along the winding banks of the Yellowstone River, there’s a town where the mail still arrives by hand, the general store has been serving locals for more than a century, and the cabins carry the scent of freshly cut pine. It’s called Pray, Montana—and for the right buyer, it could all be yours.

This five-acre town, just 45 minutes from Yellowstone National Park, offers more than just property lines. Pray offers a functioning U.S. post office, giving it its own zip code and

Read the entire article: Pray, Montana, for Sale for $2.6 Million

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Are You a Retirement Millionaire Who Is Too Scared to Spend? | Kiplinger

Behavioral Finance, Lifestyle, Retirement

Bill Van Sant has seen it many times among those he has helped with retirement planning. As a managing director at Girard, a Univest Wealth Division, Van Sant has worked with several retirees sitting on piles of cash in retirement but are scared to spend.

There’s the one client who continued to pour money into an old car even though he could afford a newer one that was more reliable. Or the multiple clients who planned to travel in retirement but kept putting it off out of fear they would outlive their savings only to suffer an illness or medical condition that prevented them from realizing their dream.

Even Van Sant’s own father keeps delaying the purchase of a newer boat that has a bathroom even though he has the resources to upgrade.

Read the entire article: Are You a Retirement Millionaire Who Is Too Scared to Spend? | Kiplinger

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In retirement, live a rich life of purpose and longevity | Guest Columns | clarionherald.org

Lifestyle, Retirement

For many, retirement is imagined as a time of rest, travel and leisure. But what if this chapter of life held an even greater promise? Research consistently shows that meaningful community engagement in later years provides fulfillment and contributes to longer life expectancy.

The key? A sense of purpose.

A study in the Journal of the American Medical Association found that individuals with a strong sense of purpose were at significantly lower risk for cardiovascular disease and cognitive decline.

Read the entire article: In retirement, live a rich life of purpose and longevity | Guest Columns | clarionherald.org

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Good News About RMDs in 2023 | Morningstar

Financial Planning, Retirement

Not so long ago, the age for required minimum distributions was 70.5. It moved out to 72, and now 73 is the starting age for RMDs. That age is set to go all the way to 75 eventually, so people may be able to push off that date at which they need to take those distributions.Before Secure 2.0, people would need to roll their assets into a Roth IRA to skirt RMDs.

Read the entire article: Good News About RMDs in 2023 | Morningstar

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Congress Adds New Option To Move Assets From IRA Tax-Free | Seeking Alpha

Financial Planning, Retirement

New option called Legacy IRA QCD allows for up to $50,000 in charitable donations in one tax year.

This option has its own unique rules and must be coordinated with regular QCDs.

Donor must be at least age 70½, and funds can be used to create a Charitable Gift Annuity or Charitable Remainder Trust.

Other options to meet IRA withdrawal requirements or reduce future RMDs include QLACs, QHFDs, and CGAs.

Read the entire article: Congress Adds New Option To Move Assets From IRA Tax-Free | Seeking Alpha

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10 Ways To Improve Your Retirement Routine According To A Retirement Coach | TravelAwaits

Lifestyle, Retirement

The idea of kicking back with “nothin’ to do” in retirement sounds fabulous in young adulthood or middle age when life can feel overloaded, so it comes as something of a surprise that a major complaint about retirement is having “nothin’ to do.”

Read the entire article: 10 Ways To Improve Your Retirement Routine According To A Retirement Coach | TravelAwaits

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6 Retirement Planning Mistakes To Avoid

Retirement

With the many financial obligations that we have, many of us put off planning for retirement, thinking that it is very far away in the future. Yet, retirement planning is crucial to a healthy retirement, especially considering that the rising average life expectancy of Singaporeans will mean that the vast majority of us will have a longer retirement period than previous generations.

Before you get started on your retirement planning journey, here are six mistakes to be aware of so that you can set yourself up to be in the best position to enjoy the lifestyle you desire in your golden years.

Read the entire article: 6 Retirement Planning Mistakes To Avoid

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‘Rent-a-person who does nothing’ in Tokyo receives endless requests, gratitude – The Mainichi

Industry, Lifestyle, Markets, Retirement

Beats a second career of working as a Walmart greeter, right? -Jeff

TOKYO — A 37-year-old Tokyo man who says he rents himself out to other people “to do nothing” has been inundated with gratitude from Twitter users, indicating people are happy with his new form of support.

“I’m glad I was able to take a walk with someone while keeping a comfortable distance, where we didn’t have to talk but could if we wanted to,” one user wrote. Another reflected, “I had been slack about visiting the hospital, but I went because he came with me.”

Read the entire article: ‘Rent-a-person who does nothing’ in Tokyo receives endless requests, gratitude – The Mainichi

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In Graying Italy, the Old Defy Biases Laid Bare by Pandemic | Voice of America – English

Health & Fitness, Lifestyle, Retirement

ROME – From his newsstand at the bottom of two hilly streets in Rome, Armando Alviti has been dispensing newspapers, magazines and good cheer to locals from before dawn till after dusk nearly every day for more than a half-century.“Ciao, Armando,” his customers greet him as part of their daily routine. “Ciao, amore (love)” he calls back.

Alviti chuckled as he recalled how, when he was a young boy, newspaper deliverers would drop off the day’s stacks at his parents’ newsstand, sit him in the emptied baskets of their motorbikes and take him for a spin.

Read the entire article: In Graying Italy, the Old Defy Biases Laid Bare by Pandemic | Voice of America – English

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Personal Finance: Should I Leave My Kids an Inheritance? – Bloomberg

Financial Planning, Lifestyle, Retirement

Bold retirees sport the bumper sticker “I am spending my children’s inheritance.” The sentiment might seem selfish, but it’s good financial planning.

Trying to leave a bequest could put older people in a tight spot. Finance author Chris Farrell once told me about a panicked 83-year-old woman with four kids who was on track to run out of money in three years because she was trying to save for her kids’ inheritance. She is not atypical.

Read the entire article: Personal Finance: Should I Leave My Kids an Inheritance? – Bloomberg

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1 Big Reason You May Regret Claiming Social Security at 62 | Personal Finance | mooresvilletribune.com

Financial Planning, Retirement, Social Security

As you’re preparing for retirement, one important decision you’ll need to make is what age you’ll begin claiming Social Security benefits.

The earliest you can file for benefits is age 62. This is also the most popular age to claim, with 48% of women and 42% of men filing for Social Security at this age, according to a report from the Center for Retirement Research at Boston College.

While there are advantages to claiming early, there’s also one significant risk you face that could potentially derail your retirement plans.

Read the entire article: 1 Big Reason You May Regret Claiming Social Security at 62 | Personal Finance | mooresvilletribune.com

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A Life Full of Experiences May Not Mean Less Financial Security – Behavior Gap

Lifestyle, Retirement

A couple of weeks ago, I wrote a column about the growing tribe of people who value experiences over security in their lives. But there is something that I didn’t say then that I want to emphasize: You don’t necessarily have to trade experience and financial security off against each other.

Read the entire article: A Life Full of Experiences May Not Mean Less Financial Security – Behavior Gap

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4 tips to navigate a 30-year retirement | Fox Business

Financial Planning, Retirement

Americans are living longer, which is a great thing, especially if you have the money to afford a nice, long retirement.

A new study released by Wells Fargo and the Stanford University Center on Longevity called “Planning for the 30+ Year Retirement,” finds that the average age in retirement has gone up from 13 years in 1960 to 18 years in 1990 to 20 years in 2020.

Read the entire article: 4 tips to navigate a 30-year retirement | Fox Business

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The ‘2020 Effect’ Is Stretching Retirement Income | Lake Expo Advertorials | lakeexpo.com

Lifestyle, Retirement

According to a recently released study conducted by the Schwartz Center for Economic Policy Analysis, 2.9 million older workers ages 55-70 have left the labor force since March, putting these workers “at risk of having to retire involuntarily due to increased health risks coupled with decreased job prospects.”

Read the entire article: The ‘2020 Effect’ Is Stretching Retirement Income | Lake Expo Advertorials | lakeexpo.com

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6 Unexpected Sources of Retirement Income | Business | kenoshanews.com

Financial Planning, Lifestyle, Retirement, Social Security

Retirement should be your time to relax and enjoy life, without alarm clocks and meetings. Unfortunately, saying goodbye to your boss also involves saying goodbye to your paycheck.

If you haven’t already saved ample funds to a 401(k), IRA, Health Savings Account, or a regular old savings account, you may be nervous about making ends meet. Social Security certainly isn’t going to cover your lifestyle

Read the entire article: 6 Unexpected Sources of Retirement Income | Business | kenoshanews.com

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