Campaign 2008 — Issues that speak directly to the subject of retirement do not seem to be foremost on the minds of the candidates, or the reporters and pundits who speak endlessly on their every move and sound bite. No matter what transpires in terms of the War in Iraq, Immigration, or any of the hot-button or wedge issues over the next four to eight years, we are all going to get older, and many will be giving more and more attention to retirement issues.
Health Care, Social Security, Employment and fiscal responsibility issues will get our attention as record numbers of Baby Boomers confront leaving the mainstream workforce. — Vote In Our Poll
Health Care, Social Security, Employment and fiscal responsibility issues will get our attention as record numbers of Baby Boomers confront leaving the mainstream workforce. — Vote In Our Poll
So it's John McCain. It's not official, but there seems to be no way the remaining candidates (Huckabee) can overcome the momentum that McCain has attained.
Now that McCain has come out on top, we'll be looking at his positions on retirement issues to see what if anything changes as the message is tuned to beat the Democratic nominee.
At the point where Mitt Romney withdrew his candidacy, he had no votes in our poll. It was curious. For as much visibility he had as a top contender and the money spent on his campaign, no votes at all indicated little interest in his message, from our point of view.
Seems that articles have been appearing with increasing frequency, outlining the rules for filing for Social Security Benefits. If you haven't checked them lately, it's worth looking into, even if you aren't ready to retire in the near future.
The basics are that you can file for partial benefits when you reach the age of 62. Depending on when you were born, you can file for full benefits when you are 65, 66, or 67.
Many people wonder whether they should consider filing for partial benefits, or wait to file for full benefits. You need to know which rules apply to you in order to know your options.
We've included links to a story in the Burlington Free Press, and here's a link to the official Social Security benefit calculator.
From the Burlington Free Press
Burlington Free Press.com | Living
A story in the NYT is the basis of a post that discusses President Bush's proposed cuts in payments to hospitals. They are pretty serious cuts in future funding, and the logic of the proposal is suspect, because it appears that private insurance is expected to make up the shortfall. We, and others, doubt that will happen.
The writer goes on to use this as an example of how bad it would be if Hillary Clinton's, or what he refers to as "Beltway Idiots" plans for health care succeed. We get the connection, but using a Bush plan as an example of how it's bad for the government to be responsible for anything would potentially have us take all responsibility for everything away from government. When an administration has low approval ratings like Bush-Cheney, and a track record for being wrong on predicting the outcome of their actions, one can forget that it doesn't have to be that way. In our history, we have had governments from both parties that, however briefly, had our best interests at heart, acted accordingly and gave us government that worked.
We hope the candidates from both parties remember that, during the campaign, and after.
From healthcarebs.com
Health Care BS - BUSH BOMBS AMERICA'S HOSPITALS
"Nationwide, well over half of the people who require hospital care are on Medicare and/or Medicaid. And, because hospitals lose money on these patients, they are in financial distress all across the country."
From the National Academy of Social Insurance (NASI):
NASI has released a report that includes comparison of the value of Social Security to equivalent private insurance policies, focusing on groups that are at higher risk of having inadequate funds. The report consolidates information from 12 organizations, funded by the Ford Foundation.
The press release has the highlights. If you have ever wondered what it would cost to have your own Social Security insurance, here it is.
National Academy of Social Insurance - Publications
"WASHINGTON, DC - For most Americans, the value of their Social Security is the biggest accumulation of dollars they will take into retirement. In fact, for two-thirds of recipients over the age of 65, Social Security is more than half of their income during retirement, according to a new report released today by the non-partisan National Academy of Social Insurance (NASI)."
"WASHINGTON, DC - For most Americans, the value of their Social Security is the biggest accumulation of dollars they will take into retirement. In fact, for two-thirds of recipients over the age of 65, Social Security is more than half of their income during retirement, according to a new report released today by the non-partisan National Academy of Social Insurance (NASI)."
A story published on BusinessWeek.com, about Scott Shane's forthcoming book The Illusions of Entrepreneurship, gives us a short description and an interview with the author.
Entrepreneurs don't earn as much as they would if they worked for someone else. That's the message.
Most of the comments that accompany the story (so far) argue against Shane's conclusions, for a variety of reasons.
The interview does point out some things anyone considering starting their own business should know, and do. Nothing you won't find in many primers on startups, but it's good advice. It's the conclusion that seems to be causing a stir.
We wish we could give you a hotlink to the story, but BusinessWeek.com forbids the use of "deep links" on their site. We aren't sure exactly why they don't want traffic from sites that find their content interesting, but whatever the reason, we don't want to violate their terms of use. Can't even link to their terms of use (we suppose) so if you are interested, you'll have to find your way there from their home page. (others have also mentioned this here and here)
What do you think of Scott Shane's conclusion? Entepreneurship is a component of many "retirement" plans these days. (See Susan Reid's post of 1/23) Should we have second thoughts?
Send us a comment, and go to BusinessWeek and leave one there.
FYI - You may "deep link" to any page on ThinkRetirement. Be our guest!
Wow, you go away for a minute and look what happens. Four players have left the field.
Edwards, Giuliani, Kucinich and Hunter are gone. We have a two person race to the finish on the Democratic side and what looks to be a battle between McCain and Romney, with Huckabee and Paul trying to be heard.
Time to catch up. We have fewer plans to evaluate for their positions on retirement issues, hopefully it will be easier to see the differences between their positions.
The Candidate Poll has been revised. If you voted for any of the candidates that have withdrawn, please vote again.
More later...
Seems this warning can't be said often enough.
Hardly any reputable agency or business will ever ask for your Social Security Number online via email or on an unsecured Web site. Those that do still require some caution, but you should know if you have logged into a secure account on a site where you conduct business that requires that kind of identification.
If you aren't sure, don't do it.
Here's a recent article posted on the Seattle Times site. Take a look. The people out there trying to succeed at identity theft are coming up with new tricks all of the time.
http://seattletimes.nwsource.com/html/businesstechnology/2004146199_ptinbo26.html
Hardly any reputable agency or business will ever ask for your Social Security Number online via email or on an unsecured Web site. Those that do still require some caution, but you should know if you have logged into a secure account on a site where you conduct business that requires that kind of identification.
If you aren't sure, don't do it.
Here's a recent article posted on the Seattle Times site. Take a look. The people out there trying to succeed at identity theft are coming up with new tricks all of the time.
http://seattletimes.nwsource.com/html/businesstechnology/2004146199_ptinbo26.html
This is a guest post from Dr. Susan L. Reid. What does "retirement" mean to a person who has successfully woven a passion into their life as an occupation. Comments were not functioning properly on 1/24. If you would like to comment, please try again.
My grandfather worked as an electrician up until the day he died, he was 98. My father worked as an expert psychological witness up until three months before his passing. What about me? What will I do? I expect I will do the same. Why? Because I am an entrepreneur, as were my father and grandfather before me. They enjoyed their work, found meaning and value in what they did, and were passionate about making a difference in the world. Me, too.
The Changing Face of Retirement
Retirement, and how we view retirement, has changed dramatically since the beginning of the 20th century. Particularly since WWII when pension plans became standard offerings to U.S. workers. Prior to that, most workers continued working until their death, relying on personal savings and family support to sustain them.
While 65 is considered the normal retirement age in the U.S., many midlife entrepreneurs eschew that age, preferring instead to remain actively involved in their businesses, well into their 80s. And entrepreneurship among seniors is growing! Nearly half the country's self-employed workers — 7.4 million — are Baby Boomers, reports the U.S. Department of Labor.
People turning 50 today have about half their lives ahead of them, and each year more than four million men and women join their ranks. So, what is retirement, then? Is it the time when you stop work completely or is it the time when you retire from one job and begin another? Does it begin at a certain age or depend on the number of years you have served in a specific capacity? Is it based on your physical condition or your personal choice?
Today retirement is what you make it. The Baby Boomer generation is redefining retirement, shunning the conventional traditions of stopping, ceasing, and leaving in favor of staying involved, continuing to contribute, and following their passion. That’s why it makes sense to be a midlife entrepreneur.
10 Reasons for Being a Midlife Entrepreneur
If you are in your 40s or 50s, you’ve already begun to think about retirement. But what is retirement? Is it a stopping point or a place to start? An ending or a beginning?
What are your thoughts on retirement? Does it make sense to you to be a midlife entrepreneur?
Dr. Susan L. Reid is a Small Business Start Up Coach, Consultant, Online Accidental Prenher™ and author of Discovering Your Inner Samurai: The Entrepreneurial Woman's Journey to Business Success
My grandfather worked as an electrician up until the day he died, he was 98. My father worked as an expert psychological witness up until three months before his passing. What about me? What will I do? I expect I will do the same. Why? Because I am an entrepreneur, as were my father and grandfather before me. They enjoyed their work, found meaning and value in what they did, and were passionate about making a difference in the world. Me, too.
The Changing Face of Retirement
Retirement, and how we view retirement, has changed dramatically since the beginning of the 20th century. Particularly since WWII when pension plans became standard offerings to U.S. workers. Prior to that, most workers continued working until their death, relying on personal savings and family support to sustain them.
While 65 is considered the normal retirement age in the U.S., many midlife entrepreneurs eschew that age, preferring instead to remain actively involved in their businesses, well into their 80s. And entrepreneurship among seniors is growing! Nearly half the country's self-employed workers — 7.4 million — are Baby Boomers, reports the U.S. Department of Labor.
People turning 50 today have about half their lives ahead of them, and each year more than four million men and women join their ranks. So, what is retirement, then? Is it the time when you stop work completely or is it the time when you retire from one job and begin another? Does it begin at a certain age or depend on the number of years you have served in a specific capacity? Is it based on your physical condition or your personal choice?
Today retirement is what you make it. The Baby Boomer generation is redefining retirement, shunning the conventional traditions of stopping, ceasing, and leaving in favor of staying involved, continuing to contribute, and following their passion. That’s why it makes sense to be a midlife entrepreneur.
10 Reasons for Being a Midlife Entrepreneur
- You’re healthier and living longer.
- You want to stay involved and engaged.
- You enjoy generating extra income.
- You get to build a business around something you enjoy and are passionate about.
- You have a full rolodex and 20-30 years of experience to back you.
- You want the independence and flexibility that comes from working for yourself.
- You have confidence and experience, and know what you’re good at.
- You may already have a pool of money saved to help finance your business.
- You can do business from home, using the Internet as your storefront.
- You aren’t discriminated against because of your age.
If you are in your 40s or 50s, you’ve already begun to think about retirement. But what is retirement? Is it a stopping point or a place to start? An ending or a beginning?
What are your thoughts on retirement? Does it make sense to you to be a midlife entrepreneur?
Dr. Susan L. Reid is a Small Business Start Up Coach, Consultant, Online Accidental Prenher™ and author of Discovering Your Inner Samurai: The Entrepreneurial Woman's Journey to Business Success
ThinkRetirement is but one stop on Susan's Virtual Book Tour. Visit WME Books to see the tour itinerary and see where she's been and where she's going!
Susan's main site is Alkamae.com. Check out her blog.
You can buy Discovering Your Inner Samurai: The Entrepreneurial Woman's Journey to Business Success directly from WME Books.
Or, through Amazon.com.
Susan's main site is Alkamae.com. Check out her blog.
You can buy Discovering Your Inner Samurai: The Entrepreneurial Woman's Journey to Business Success directly from WME Books.
Or, through Amazon.com.With all the news media buzzing about Recession, predictions of a crumbling real estate market, and questions about who is going to fix it all and how soon, we got to wondering if there would be a corresponding uptick in opportunites to buy retirement housing at lower prices? Moving to a retirement community in Florida is the goal of many, so we looked on the Internet for someone who might know and came up with the following entry on Topretirements.com. It would appear that the prices have not begun to fall significantly across the board, but there are some sellers and realtors who want to move their property and are lowering their prices accordingly.
Two recent driving trips through Florida, from Jacksonville to Key West (and back) support the article's suggestion that there is plenty of real estate to be had. Our own observations are that properties that have been on the market for over two years are often still listed at the same price as the initial listing, or only slightly less.
The real opportunities may still be out there.
(If you can sell the home you have, and move... another topic for another time)
Retirement community news blog - Topretirements
http://www.topretirements.com/blog/MediaMatters.org draws attention to a report on The Situation Room, where the storyline is based on the assumption that Social Security will run out in 2041, contrary to government reports that refute that claim. The story goes on with reporting on how various Presidential Candidates will address the issue.
Is it spin, or just bad reporting on CNN's part? It's one thing for a television "news" show with a particular point of view to spin a story the way they want, using unsubstantiated fears as a pivot to leverage opinion. Hopefully,most of us can see those shows and "news reports" for what they really are, but what is this?
We seriously doubt whether "Everybody knows" and "Voter's know" would never qualify as substantiation for a story in any journalism course.
It doesn't help the dialogue and certainly doesn't serve the public interest for our news outlets to crank out stories that aren't supported by facts they can cite. It's called "fact checking" and it used to be a requisite part of reporting.
Take a look at the video linked on the mediamatters.org page.
It's not like there aren't some real issues that need to be addressed in terms of the viability of Social Security and it's funding, but the scare tactic that it's going to run out of funds and that everyone knows that to be true is simply unprofessional for someone who thinks of themselves as a journalist.
Media Matters - CNN's Chernoff falsely claimed Social Security
will "be out of money in 2041"
http://mediamatters.org/items/200801230001?f=h_latestwill "be out of money in 2041"
