South Carolina is quickly becoming a popular retirement state. This beautiful state features mountains, the ocean, and plenty of activities for those looking to retire here. Here is a list of the best places to retire in South Carolina.

First, let’s look at the reasons people enjoy retiring in this state.

Tax Friendly Retirement in South Carolina

South Carolina is one of the most tax friendly states for retirees. They don’t tax Social Security income and there are deductions available for other types of retirement income as well. Property taxes here are also one of the lowest in the nation and the average home value in South Carolina is just $148,000. All of this makes South Carolina a good financial decision for many retirees.

SC Activities in Retirement

South Carolina is beautiful, mountains, lakes, and sunsets highlight this gorgeous state. It even features one of the oldest living things in the country, the Angel tree at over 400 years old. Home to a very active population, golf, hiking, boating, and many other activities await you here in South Carolina. It’s rich in culture and history, so you will never run out of amazing things to learn.

Retirement Haven

South Carolina is a very popular vacation destination. Many of these vacationers turn this into their ideal retirement location after visiting several times. There is really no better praise then those who visit this beautiful state wanting to make it a permanent home. South Carolina continues to grow as not only a tourist destination but as a retirement haven. Those looking to enjoy the later years of their life with beautiful weather, activities, and financial incentives will love it here.

Of course, there are many great cities to choose and all have something a little bit different to offer. Let’s look at some of the best options available.

1.    Seneca

Seneca is a beautiful town surrounded by lakes and mountains. You will find many of your retired peers in this beautiful town as seniors make up about 20% of the population. Seneca is a very active community and common recreation includes hiking, kayaking, and boating on Lake Keowee Marina.

Seneca also has several museums for you and your family to visit and learn about culture, energy, and science. It also has many medical facilities available for you to use. This makes Seneca a great place to continue living a happy and healthy life throughout your golden years.

2.    Murrells Inlet

This quiet community is just a few miles from popular Myrtle Beach. It has only about 8,000 people and seniors make up over 30% of that population. This maritime community has plenty of golf courses and beaches to keep you active. With some of the best seafood in the world you will enjoy eating at one of the many popular restaurants here in Murrells Inlet.

3.    Myrtle Beach

Myrtle Beach is another great place for retirees and is one of the most popular destinations. You will always have fun experiences to entertain you and your family here. Enjoy one the 100 golf courses, endless shopping and restaurant choices, and popular shows playing at the local theater.

Moreover, you can enjoy your retirement years relaxing on the soft white sand beaches while watching the sunset. Myrtle Beach is home to one of the longest continuous beaches on the planet, the Grand Strand. This is a great place for those looking for a little adventure in their retirement. With its large tourist population and all the excitement that comes with it you will never be bored.

4.    Greenville

Greenville is a great small town that is home to several colleges. With a great taste for art the town hosts several events and festivals throughout the year. If you’re looking to retire in a smaller, quieter area that still has attractions and a quaint downtown, Greenville may be the perfect option for you. It has maintained a historic presence. Its Main Street features many original buildings creating a unique experience for residents and visitors alike.

5.    West Columbia

West Columbia is a great choice if continued education is something you look forward to during retirement. The University of South Carolina is nearby and offers free tuition to those who are over 60. Known for its southern hospitality along with a vibrant city life West Columbia has been gaining popularity as a place to retire. It has a multitude of recreational centers located in and around West Columbia. This means you will never run out of fun activities for you and your family.

Conclusions on our List of Places to Retire in South Carolina

Retirement can be an exciting but stressful time in our lives. Especially when still deciding on where we want to live. South Carolina has so much to offer retirees. From its beautiful scenery, active lifestyle, tax benefits, and excellent health care you will find that one of these cities in South Carolina can make a great permanent home for you.

Other Fantastic Retirement Cities and Communities:

• Mexico

• North Carolina

• Florida

• Arizona

The post Best Places to Retire in South Carolina: The Top 5 appeared first on Medicare Life Health.

Here are the best places to retire in Florida. A state that is home to the highest percentage of retirees. With good reason!

One of the main reasons that retirees are drawn to “The Sunshine State”, is for well, the sunshine. With almost 250 days of sunshine each year you can always get out and enjoy the many activities offered here in Florida.

Tax Friendly Retirement in FL

Florida has some of the best tax friendly policies for retirees. There’s no state income tax here and they don’t tax retirement or Social Security Income. With no inheritance or estate tax you can pass on your wealth onto your children tax free. Property taxes are also reasonable in Florida, making it a financial haven for retirees.

Florida’s Active Lifestyle

Florida is a very active state, which has attracted the attention of healthy minded retirees. It’s easy to connect with others who are in the same position as you; trying to enjoy retirement in this beautiful state. You can go to the beach, hiking, running, or go on one of the many excursions offered throughout the state.

Family Activities

With over 1,200 miles of coastline and soft white sand beaches, you will always have something fun to do. Florida is also home to Disney World and is a great experience for both you and your grandchildren when they come to visit you. This is one of the amazing benefits of Florida, it has plenty of activities. These will help keep you and your family connected even if they don’t live nearby.

Florida Retirement Communities

Many of the communities in Florida are 55 and over communities. This means that you will find others who are at a similar place in life as you are, creating a strong sense of community. You will create lasting friendships, bonding over tennis, swimming, or book club. These communities also offer varying levels of living assistance, so assistance can increase as you age.

Of course, there are many cities to choose from in Florida, so take a look at our list of the five best places to retire.

1.    Sarasota

Sarasota has a population of just a little over 50,000 people and 26% of them are over 65. The slow-paced lifestyle features a colonial Spanish history that attracts many of these retirees. Along with plenty of amenities and about an hour drive to Tampa you’re never far from the city. However, with its nearly 100 stores and restaurants you will never need to leave your little slice of heaven. With its miles of white sand beaches, lush landscape, and plenty of wildlife Sarasota offers a beautiful backdrop for all your adventures.

2.    Gainesville

Gainesville is about 75 miles inland, meaning that you won’t go to the beach as regularly. However, when hurricane season hits, this may not be such a bad thing. Home to the University of Florida residents over 60 can enroll in courses for free. If you’re looking to continue learning during retirement this is a great advantage. Just about 10% of its 130,000 population is 65 and older, so they have a wider range of residents. Initially founded as a health care resort, Gainesville now has medical care available at both the Sands Hospital and North Florida Regional Medical Center.

3.    Naples

Naples is another beach town featuring around 20,000 people and over half of those are 65 and up. The miles of beaches, high air quality, and beautiful scenery have attracted retirees for years. Residents of Naples report feeling good about their health, financial security, community, and their sense of purpose. All of these are great things as we age and being surrounded by others who feel the same creates a unique experience here in Naples. However, home prices here reflect this reality, starting around $400,000 for a condo.

4.    St.  Petersburg

Saint Petersburg is the largest city on our list today. With over 250,000 people 17% are over 65. Home prices are lower here starting at just $165,000 depending on the size and location. Getting around in St. Petersburg is easy and you will find many people biking or walking downtown while enjoying the arts scene and local restaurants. Tampa is just a half hour away, meaning you can escape for the day to enjoy its theaters, colleges, and other conveniences of city life. Then you will return to your quiet paradise.

5.    Punta Gorda

Another small town, at around 20,000 people, over half of those are over 65. Retires are drawn by the canal-front living and plenty of retirement communities. Golfing is a popular pastime and there are over 18 miles of trails for those who prefer biking or walking. The average home price in Punta Gorda is $325,000 and rent is just around $1000 a month. This makes it a relatively affordable place to call home.  

Conclusions on Places to Retire: Florida

When looking at places to retire, Florida is always one of the top US states and rightfully so. This trend of people retiring to this temperate, active, and beautiful state shows no signs of stopping. If you want the good life filled with others who are at the same place in their lives as you are, there is no better place than one of these cities in Florida.

Other Excellent Places to Live in Retirement:

• Mexico

• North Carolina

• South Carolina

• Arizona

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Here are the five best and most exciting places to retire in Arizona.

Arizona has long been one of the best places for retirees and with good reason. With a little bit of something to offer everyone it’s hard to go wrong in this beautiful location.

Tax Benefits of the Best Places to Retire in Arizona

Arizona doesn’t have Social Security Income tax, gift tax, estate tax, or inheritance tax, making it a great financial decision. Other taxable income rates range from 2.59% up to 4.54% for married filers.

Health Friendly

Arizona is also known to be allergy friendly and attracts those looking to improve their health. Many people find that their quality of life here improves drastically; especially those with bad allergies or asthma. This is because the state is a desert and most highly allergenic vegetation does not grow here. Along with its beautiful scenery and outdoor adventures you may find that you feel healthier later in life than before.

Arizona Weather

Arizona also has amazing weather year-round. With no humidity even its hottest days seem bearable. And with over 300 days of sunshine per year you can get out and enjoy all of those beautiful activities as often as you like. However, if you don’t enjoy the heat there are still a few cities that provide a great haven with cooler temperatures and even snow.

AZ Activities

If you’re a golfer, you will find there’s few better places in the world to retire than in Arizona. With over 70 ranked public courses and over 421 courses throughout the state, golfers will love their time here in Arizona.

Arizona’s Annual State Fair draws over 1 million people to its capital. Here you will enjoy prickly pear margaritas, cactus jelly, rodeos, and much more.

Culture

Diversity and culture are abundant in Arizona. With over 20 Native American tribes represented and the highest percentage of land dedicated to reservations, this piece of our history has been maintained in Arizona. In fact, it is still home to nearly 10% of the Native American population.

If the tax benefits, weather, and endless activities seem attractive to you Arizona is a great option for you. Read on to learn about some of the best cities to Arizona has to offer.

1.    Sedona

Sedona is well known in the movie world. The iconic red rocks that call Sedona home have appeared in many major western movies. These amazing natural features create a beautiful backdrop for your new home. The moderate climate and mountains that Sedona has to offer make it a popular retirement community. With numerous hiking trails and a thriving art culture, Sedona has a little bit of something for everyone. This laid-back town is a great option for those seeking an escape from city life.

2.    Mesa

Mesa is the second largest city in Arizona with over 400,000 locals but it is still cost-effective choice for retirees. Ranked number 10 out of the state for cost of living, along with its attractions, museums, and sports centers you will always have something to do. Of course, Mesa also has several golf courses available for retirees of any skill level to enjoy. If you are looking to enjoy the city life with all of its conveniences and amenities, Mesa is a great option for you.

3.    Youngtown

Youngtown has an interesting history. It was initially started by a real estate broker named Ben Sheffield. He created this new community as a senior citizen only living. This idea took off quickly and population increased with those looking for low-cost retirement living. The warm climate, low taxes, and no crime created the perfect environment for these retirees. After many years it came to light that Youngtown was never actually designated as a 55 plus community and it now allows all ages to call this beautiful place home. However, with its parks, clubhouse, and beautiful lake Youngtown has maintained its small-town feel.

4.    Peoria

Peoria is the ninth biggest city in Arizona and is located on the outskirts of Phoenix. Surrounded by the rugged terrain of the Sonoran Desert. It provides the perfect landscape to enjoy a variety of outdoor activities. Being that the city is so large you will find all of the conveniences of city life surrounded by adventure filled days of hiking and enjoying nature. If you are a fan of baseball you will also love the Peoria Sports Complex. In fact, both the San Diego Padres and the Seattle Mariners use it to train during the spring.

5.    Surprise

Surprise is another city located just outside of Phoenix. It provides all aspects you will need in retirement. This includes plenty of activities as it’s surrounded by the Sonoran Desert and mountain park lands. It’s one of the best places to start a business and 9 out of 10 residents suggest you do so. With its low crime rates and excellent amenities, it really isn’t a surprise that Surprise is such a popular location for retirees. Along with its installation of public art and beautiful scenery Surprise is another great choice for those looking to retire in Arizona.

Conclusions on the Best Places to Retire in Arizona

With its tax friendly policies, wonderful weather, endless activities, and cost-effective prices, it’s no wonder that Arizona continues to be one of the best states for retirement. Any city in Arizona will provide you with these benefits, but the cities on our list have something extra. They all offer something that makes them unique and makes them the perfect places for retirees to call home.

Read Next: The Best Places to retire in North Carolina

Or Read: The Best Places in Mexico

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North Carolina is quickly becoming a retirement haven. In fact, it has even beaten out two of the most popular states for retirees: Florida and Arizona. Here are the five best places to retire in North Carolina.

Tax Benefits of the Best Places to Retire North Carolina

Over the years North Carolina has developed tax friendly policies that attract retirees. If your main source of income is Social Security North Carolina is a great option for you as they don’t tax this type of income. You will also benefit from their low property taxes and sales tax that’s around the national average.

In 2013 North Carolina repealed their estate tax meaning that you can transfer any amount to your heirs without paying state taxes. This is another benefit that is attracting those with substantial income to retire in North Carolina.

Natural Beauty

North Carolina is a beautiful state; from the ocean to the mountains. You haven’t seen true fall colors until you’ve experienced it here. Along with its cultural history you will always have something new to experience.

Retirement Home Options in North Carolina

 As North Carolina has continued to grow as a retirement state, more retirement homes have become available. These are available at a variety of price ranges, care levels, and locations to meet whatever your needs are now and in the future.

Now that you know what North Carolina has to offer retirees, let’s look at some of the best cities to choose from.

1.    Asheville

If you enjoy going to a good brewery, Asheville is the place for you. With more breweries per capita than any other US city you will never run out of amazing craft beers to taste. Along with its arts and music scene Asheville provides the perfect place for retirees. Here you will enjoy the beautiful scenery, temperate climate, and downtown entertainment.

This town is large enough to provide a lot of city life conveniences while still being small enough to maintain a quaint feeling. Asheville also has amazing outdoor options as well. Biking, hiking, and golf are common pastimes for residents. Follow this up by hitting the downtown shops, watching the street performers, and then relaxing with a drink at an amazing restaurant.

2.    Brevard

If something a little smaller is more your speed Brevard is another mountain town located in western North Carolina. Their goal is “to promote a high quality of life, support economic prosperity, and cultivate community while honoring its heritage and culture.” This beautiful town offers waterfalls, mountain biking, and rock climbing for retirees who want to remain active. In Brevard you will enjoy nearby Pisgah National Forest and DuPont State Forest thanks to its moderate year-round climate.

3.    Davidson

Lakeside living is also easily available in North Carolina. Davidson is a small town with just under 13,000 people located on the shores of Lake Norman. With its small-town feel and southern hospitality, you will enjoy a quiet lifestyle.

With nearby Charlotte only half an hour away you can always enjoy the city before returning to your lovely community. Davidsons’ historic character and walkable downtown area make it a great community. Along with fishing, boating, and nearby hiking trails you will never get bored living in this beautiful small town.

4.    Highlands

If 13,000 people still seems too big you will enjoy the tiny town of Highlands, with less than 1,500 permanent residents. However, keep in mind that this number peaks to around 20,000 people during the heavy tourist times: spring through fall.

This tourism provides ample business opportunities for its more entrepreneurial residents. Highlands also features the beautiful landscape North Carolina is known for. You will enjoy hiking to beautiful waterfalls, antiquing in downtown, or watching a play at The Highlands Playhouse founded back in 1983.

5.    New Bern

New Bern is a little bit closer to the sea with a population of just over 30,000 people. You may even recognize its downtown streets from the movie “The notebook”. New Bern is also the second oldest town in North Carolina and was even the capital in colonial days. While it remains a small town it still has a beautiful arts scene. Street performers, waterfront concerts, and bi-monthly art walks ensure retirees will enjoy the finer things in its four historic districts.

Conclusions on Places to Retire North Carolina

North Carolina has plenty to offer retirees and you can find just about any lifestyle you’re looking for in one of the many cities or towns here. With great tax policies, beautiful scenery, year-round temperate climate, and retirement community choices, North Carolina has everything you need. Your family members will love to visit with all of the experiences North Carolina has to offer.

Read Next: Best Places to Retire in Mexico

Other Best States and Cities to Retire in the United States

• Florida

• South Carolina

• Arizona

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In this article we cover the 5 best places to retire in Mexico.

When deciding on somewhere to retire many people imagine drinking Mai Tais on the beach. One of the best places to do this is Mexico, which offers a little bit of something for everyone. In fact, International Living has rated Mexico as one of the top 5 countries in the world for retirees.

Mexico’s geographic diversity means that you can have mountains and the ocean all while being in a temperate climate. This makes Mexico somewhere that you and your loved ones can enjoy year-round.

Puerto Vallarta

Puerto Vallarta is a popular retirement destination for many Americans as it is warm year-round and offers a lot of fun activities. It’s a very convenient place to retire with direct flights throughout the United States and to other countries.

This beach town offers plenty of nightlife, music, and theater to keep you entertained. Of course, you can always spend a relaxing day enjoying the beach if you decide to retire in this area of Mexico. Puerto Vallarta has a great mix of local culture while still being easy for expats to navigate. Most expats find that they need very little Spanish to get by in Puerto Vallarta.

Cost of Living

The cost of living in Puerto Vallarta is cheap especially in comparison to American standards. Typically, a couple can retire on well under $3,000 USD per month for everything you need. An average 2-bedroom apartment costs around $900 a month while groceries and other household items will set you back around $300 a month.

San Miguel de Allende

Retiring in San Miguel de Allende means living in a quaint community with a temperate climate. The average daily temperature is in the 70’s and drops into the 50’s at night. January and February are the “cold months” dropping into the 30’s at night.  

This town has a lot of cultural history to share with those who choose to make it their home. With its thriving art scene, you will never get bored or lack a cultural experience.

Cost of Living

The average cost of living for a couple is less than $2,000 per month. The temperate climate means that there is no need for heat and AC, keeping electricity bills low. While going out to a nice restaurant will only cost $40 to $50 including drinks and appetizers.

Merida

If you’re looking for something a little more upbeat Merida is a great option for you. With close to 1 Million people this huge city still maintains a quaint feeling when walking the cobblestone streets. The culture, sports, and modern infrastructure along with world class medical care makes it a great retirement community for expats. This will prove to be an easy transition for those leaving the US and moving to Mexico as the lifestyle and amenities are similar. However, due to the high number of locals you will need to learn more Spanish to live in Merida.

Cost of Living

Merida is another cheap place to retire even by Mexico’s standards. A couple can live comfortably on $1,500 to $1,750 every month. Temperatures get higher in Merida so your electricity bill will likely be more during the hot months. But a 3-bedroom apartment in the heart of downtown starts at just $550 a month.

Tulum

The town of Tulum is a charming resort town that has been growing in popularity over the last several years. With the beautiful beaches and crystal waters of the Caribbean, it is becoming quite the tourist destination and an ideal spot for many retirees. If you choose to live in the center of town you will not need to have a car. Walking, biking, and mopeds are popular modes of transportation for those who live within the city.

Cost of Living

As interest in Tulum has risen so have the prices to live here. This is the most expensive city on our list today but is still cheap for American standards. A couple can live comfortably on just over $3,000 a month. This higher price is almost entirely due to the increased housing costs caused by increased tourism and population. Renting a furnished two-bedroom house will set you back about $2,000 every month.

Huatulco

This breathtaking coastal town is another great choice for retirees. It features some of the best scenery in the world. With over 30 beaches lined by the beautiful Sierra Madre mountains it is an amazing place to call home. With great healthcare available in town and reasonable rates you will be wondering why you didn’t move here sooner. A typical doctor’s appointment will only set you back around $20 depending on what specialty you’re seeing.

Cost of Living

Living in Huatulco will set a couple back about $1,500 every month. This includes a two-bedroom condo ranging around $500 to $700 a month. If you are looking for something a little fancier, a house with an ocean view will cost around $1,000 to $1,500.

Conclusions on Places to Retire in Mexico

When deciding on a place to retire, Mexico should be at the top of your list. It’s an easy flight for family members to come visit you and the amazing weather. With the great climate, great healthcare, and affordable prices it’s hard to go wrong in such a beautiful place.

Best States to Retire in the United States

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The average retirement income in the United States varies by your region and age. However, understanding your number in relation to the “Average American” can be very helpful in planning.

Deciding how much money you need to retire comfortably is a big decision. Sometimes people underestimate the amount of their after-retirement expenses. Then, they are stuck in a position of having to find another job to supplement their income or live less comfortably than planned.

Looking at the average retirement income can help you get a good idea on what your needs will be in retirement.

Average Retirement Income 2019

The US Census Bureau states that the average retirement income for Americans over the age of 65 was a median of $47,357 and a mean of $73,288. Interestingly, those two numbers are drastically different when looking at these same group of data. This is because median and mean are calculated differently and each of those have advantages and disadvantages.

Median Retirement Income

The median retirement income represents the middle ground of everyone. By taking everybody’s retirement income and figuring out what number is in the middle of all of those. This can be a better way to evaluate how much most people have in retirement because it isn’t skewed by extreme high numbers.

Mean or Average Retirement Income in the US

The average or mean takes all of the retirement incomes, adds them together, and then divides them by the total number of retired people evaluated. This is not always the most accurate because extremely high numbers will pull the median above what the majority of the population actually makes.

So, when looking at the statistics generated by the US Census Bureau the median of $47,357 is likely a more representative picture of the average retirement income.

Trends in Average Retirement Income

Looking at the average retirement income based on age groups reveals more interesting factors to consider. As you look at older groups of Americans in retirement, their average cash flow in retirement is significantly lower than that of their younger retired peers. For instance, in households aged 55 to 59 the median income is $73,711 while those aged 75 and above have a median income of just $34,925.

This is likely due to the increased inflation overtime and what someone needed to retire 20 years ago was significantly less than is required today for the baby boomer generation. Keep that in mind when planning your own retirement income; as time goes on money is likely to be worth less and will not go as far.

State Average Retirement Income

Of course, these average retirement incomes are based off of the entire country as a whole. Consequently, they are vastly affected by the different expenses of each state. So, let’s look at the most expensive state and the cheapest state to retire in based on average retirement income.

Unsurprisingly, Hawaii comes in at the most expensive state to retire in. The average savings required to retire comfortably in Hawaii is $1.84 million. Considering that Hawaii also has the highest life expectancy out of all the states at 81.5 years old, this money needs to last a long time.

Mississippi, on the other hand, comes in at the lowest average savings required of just $617,661 Mississippi also has the lowest life expectancy of all the US states at 74.5 years. This means that the retirement savings don’t typically need to last as long.

Where does Retirement Income come from?

You may be wondering where people are getting an annual retirement income from. There are several different sources but some of the most common will be listed below.

Social Security Income

85% of people aged 65 and above receive social security. In 2020, the average monthly Social Security payment was $1,503. The US government created Social Security as a supplement to retirement income. Not a primary source of it. However, many people rely heavily upon the income received from it.

Related Reading: Social Security Lump Sum Death Benefit

Assets

Another large group of retirement income is going to come from people’s assets. This is the accounts that they have invested in throughout their careers, such as 401K’s, IRA’s, and other savings accounts. While many Americans expect their asset accounts to be their main source of income during retirement, studies have shown that most people do not have enough saved to live off of. In fact, half of those receiving income from assets receive less than $1,754 every year.

Working

Looking at some of the numbers above, it’s not surprising that many retired Americans find that they need to go back to work in order to make ends meet. According to the Bureau of Labor Statistics 32% of those aged 65 to 70 and 11% of those aged 75 and above are expected to rejoin the workforce by 2022. Transamerica also estimates that over half of those above the age of 65 will continue to work or don’t plan on retiring. The reason for this is mainly due to financial reasons. For example, being unable to retire based off of their current savings.

Related Reading: Jobs for Retired People

How to Increase Retirement Income

Looking at some of these numbers may make you a little worried about your retirement. However, there are several things that you can do to help increase your retirement income before you get there.

Delay Social Security Income

For those who are already in retirement, delaying Social Security Income can be a great option. It can boost your income down the line. If you wait to start benefits you could earn an additional $300 or more every month.

Increase contributions to asset accounts

Before your retirement, you should be contributing to an asset account or multiple if you can. During your younger years, focus on maxing out contributions, especially if your company offers matching benefits. As you age, focus on decreasing spending and increasing your average savings.

Once you’ve retired, unfortunately it’s difficult to increase your asset accounts enough to make a significant difference. At this point, you will have to focus more on reducing your average spending to make your money go further.

Delay Retirement

If you enjoy the work that you’re doing, delaying your retirement may not seem like a bad option. By increasing the number of years you work, you increase the amount that you can save. As a result, you can put that towards a comfortable retirement. This could be one of the best ways to boost your retirement income going forward.

Conclusions on Average Retirement Incomes

Retiring comfortably takes a lot of planning and saving throughout your life. It’s easiest if you start planning for retirement as soon as you begin working. This allows for the compounding of your assets. However, as we age and look at retirement approaching sooner, we can still do some of these things to help create the future that we want.

Further Reading:

• How to Apply for Medicare

• Is Medicare Supplement Plan F Going Away?

• Things to Do in Retirement

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Retirement is something we’ve looked forward to throughout most of our adult lives and it provides the most freedom we have had in decades. With no job to tie us down, no kids still living at home, and no responsibilities beyond doing what we enjoy, the options are limitless. Sometimes however, the endless choices of things to do after retirement can seem overwhelming. So, let’s take a look at some of the best options to create a fulfilling retirement with things to do after retirement.

Travel Things to Do in Retirement

One of the biggest things people want to do during retirement is start traveling. If you have the ability to do so, traveling can be a very rewarding experience. There are many different ways that you could begin traveling and each offers its own advantages. Take a look at some of these possibilities and see what fits your lifestyle best.

Cruises

Cruises are a great option for those who want a relaxing travel experience. The majority of the time you will be relaxing by the pool, having a drink, and watching the beautiful scenery. This is an all-inclusive option, you don’t have to worry about setting up transportation, places to stay, or food choices. You simply choose the destination you want to go to, take a cruise to get there, and then explore the area.

RV

Another great option is to buy or rent an RV and travel around the country. This provides you with significantly more flexibility in your travel plans. RV travel allows you to experience the joys of slow travel. You decide when, where, and how long you want to stop and have no time limit on experiencing an area. However, this is more involved, requiring you to determine the destination, route, food, and all other factors of your trip.

Tours

If you decide to go to other countries and want to truly experience all they have to offer, a tour may be the best option for you. This combines some of the benefits of both cruises and an RV. You get more experience in the culture that you’re visiting, without having to completely plan an entire trip on your own.

Hobby Things to Do in Retirement

Have you ever wanted to try a new hobby or sport but found that you were just too busy? Now is the perfect time to get started in the things you always thought were interesting. Take a pottery class, start playing tennis, or start writing a book, whatever you think would be fulfilling is worth a try. Finding a hobby that you will enjoy for years, can be somewhat of a trial-and-error situation, but once you find what you’re passionate about, you’ll be happy for all the other experiences you’ve had.

Become a Mentor

Many people find that after retirement their life isn’t as fulfilling as it used to be. Becoming a mentor and using your experience to help a younger person on their journey can be one of the most rewarding ways to use your retirement years. Young people are constantly seeking input from those who have been where they want to be and advice on how to get there. Whatever experience you have had in life can be something useful for a younger adult or child going through similar experiences.

Start a Business

With all that free time on your hands, why not start the business you’ve always dreamed of? You could open a bakery, start a blog, or anything else you’ve always imagined. Starting a business can be rewarding for many people and a great way to use your retirement years. Now is the time to go for your dreams, however big or small, so don’t resign yourself to giving up on achieving them.

Take a Gap Year

Gap years are typically used for young adults who’ve graduated high school and are not yet ready to start college. It gives them time to experience things in life and decide what they want to do going forward. This is a similar point in life to initial retirement. You’ve done all of the things you had planned and now you need to decide what you want to do with the rest of your life. Taking a year to just experience the things that you have always wanted to experience and explore the possibilities of what you want going forward, can give you a lot of insight that you wouldn’t have had otherwise.

Move Somewhere New

Jobs and responsibilities often hold us in places that aren’t our ideal location. Maybe you have just always wanted to really immerse yourself in another culture overseas, or your family lives in another state. Moving to somewhere new can give you the opportunity to experience what you’ve always wanted.

Regardless of what your reasons are for wanting to move, you have to remember that now there’s nothing holding you back. There’s no reason that you have to stay where you have been, if somewhere else seems more enticing.

• Related Reading: Downsizing Tips for Seniors

Watch Your Finances

Lastly, it’s important when going into retirement to keep an eye on your finances. You’ve worked hard and planned for your future, so you need to make sure that you’re living within your means.

It can be a hard adjustment to go to a fixed income when you retire. But by giving yourself some time to transition to the new lifestyle and keeping an eye on your spending, you can make sure that you can enjoy your retirement for the rest of your life without worry.

• Related Reading: Minimalism for Baby Boomers

Conclusions on Things to do After Retirement

Retirement is a very exciting time, but it leaves a lot of options available to you. Sometimes deciding what to do after retirement can be harder than we initially thought. Just go for something, give it a try, and see what sticks. This time in your life can be used to experience new things and there’s nothing wrong with trying something, finding you don’t like it, and trying something else. Now it’s all about the experience.

The post Things to Do After Retirement appeared first on Medicare Life Health.

Do you feel like it might be too late to start saving for retirement at 50 years old or older?

Debt expert Valentina Wilson is here to get you started with saving and investing, no matter what your age, situation or even your gender.

Calculate how much you need after retirement

The baby step to save and invest in your retirement is to find out how much you might need after retirement.

And therein lies the importance of the safe withdrawal rate! It implies the percentage of your accumulated wealth you can withdraw every year without running out of funds. Financial experts usually consider 4% as the safe withdrawal rate after retirement.

So, you can use a retirement calculator to get an idea about how much money you need after retirement!

Take Advantage of New Retirement Rules for Saving For Retirement At 50 +

Well, you might know that President Trump signed a new law on December 20, 2019. It’s known as SECURE (Setting Every Community Up for Retirement Enhancement) Act. There are a few changes with the retirement rules which can help you, like:

1. You can get an extra 1 ½ years to grow your money in a traditional IRA or 401k without being depleted by distributions and taxes. The Act pushes the age at which you need to take Required Minimum Distributions (RMD) from 70 ½ to 72.
   
2. Previously, contributions to a traditional IRA couldn’t be made after attaining the age of 70 ½. But now, you CAN contribute to your IRA even if you hit the age of 70 ½.
   

So, don’t wait, take advantage of more time you are getting to save for your golden years!

Make up your Time with the Help of Catch-up Contributions

Do you know about catch-up contributions?

Well, if you are 50 or above, you can make additional contributions to your 401k or IRA, known as catch-up contributions.

In 2020, you can contribute $19,500 ($500 more than the limit of 2019) to your 401k. And as you are 50 and above, you can stash $6,500 more as your catch-up contributions. So, in total, you can contribute $26,000 for your 401k.

In the case of an IRA, you can contribute a maximum amount of $6,000 in 2020. And for your catch-up contributions, you can contribute $1,000 more. That means you can contribute a maximum of $7,000 in total for the year 2020.

I would suggest you max up your contributions to your retirement account. This way, you can make up the time to some extent you have lost.

Get Rid of Debts Early

Do you have any outstanding debt?

If yes, then saving for retirement can be a distant dream for you!

Yes, you heard it right! Most likely, a substantial amount of your paycheck gets deducted to pay off your debts. As a result, you won’t be able to save that much for your retirement. So, find the best way to pay off your debts and live a debt-free life ahead! This way, you can live your life stress-free and save a substantial amount for your golden years!

Opt for a Health Savings Account (HSA)

Day by day, health care costs are rising in our country! A 2019 Fidelity report reveals that the average couple in our country will need almost $285,000 for health care costs!

To qualify for an HSA, you need to enroll in a high-deductible health insurance plan (HDHP). Every year, the IRS (Internal Revenue Service) reviews these plans and defines the minimum deductible and the maximum amount for your out-of-pocket expenses.

According to HealthCare.gov, in 2020, the IRS defines a high deductible which has:

• A deductible of at least $1,400 for an individual
  
• A deductible of a minimum of $2,800 for family
  
• Total annual out-of-pocket expenses of not more than $6,900 for an individual and $13,800 for a family.
  

How to use an HSA

So, once you are qualified for an HSA, find out how it works:

• Perhaps the best way to stash your money into your retirement account (other than 401k or IRA) and that’s too tax-free is by opting for an HSA!
  
  Use your money for qualified medical expenses so that you don’t need to pay any taxes. But always remember that once you turn 65, you can take out your money from HSA for any reason. But you will have to pay taxes on it.
  
  
• If your employer offers you an HSA, your contributions are deducted from your paycheck through a pretax payroll deduction. Otherwise, you can deposit into your HSA on your own. But you have to claim them as tax deductions while filing your income tax returns.
  
  
• Your health plan provider will give you a debit card or checks linked to your HSA account. So, you can use the balance for eligible medical expenses.
  
  
• Unused funds in your HSA roll over into next year. Your balance remains the same even if you retire or change your health plan provider.

Conclusions on How to Start Saving For Retirement At 50

The bottom line is, always remember that it’s always better late than never! So, don’t think that you can’t save for your retirement as you have already turned 50!

Follow the above tips to save and invest in your retirement at the earliest. And live happily during your golden years! Happy Women’s Day once again!

The post How To Start Saving For Retirement at 50 + appeared first on Medicare Life Health.

Whether you need more money now, or to stash in your retirement savings for later, one quick way to to get cash is to find easy things to make and sell for money.

1. Making Printables For Downloading

For this first one, you will need a little bit of technical skill and creativity. However, anyone of any age that has just a little bit of both, can quickly make money with printables.

What are we talking about? Printables are anything that you create and deliver in a downloadable format over the internet that provides a valuble product to your customer. For example, you can set-up an Etsy (the makers market) store and sell crafty downloadable items such as:

• Sewing Patterns & Other Craft Patterns
• Checklists, Calendars & Organizing Sheets
• Coloring Books
• Note Cards & Invitations
• Business Cards
• Workbooks
• How to eBooks
• Meal Planners
• Pictures and Graphics

Printables are very popular! I have downloaded many helpful ones myself. As a result, there are endless amounts of websites that will teach you the step by step process to starting a printable business. Just Google “printables business” or go onto Pinterest and search for “how to sell printables” to start.

These websites will give you tips on how to find easy ways to create these printables, even if you do not have a graphic design background. There are services, like Canva, that make designing something very easy for just about anyone. Just remember to do a little research on what is trending and what is always a popular search, before you start the creation process.

Keep it Easy

If you are looking for quick and easy in this area, then stick with Etsy. If you want to turn your printables business into something bigger, you can look into starting your own Shopify store, or selling on your very own website. Just know that path will require much more customer service. Customer service has a habit of taking the “easy” out of an idea.

2. Selling Photos

It has never been easier to sell photos than now. Online publishing (this blog included) has created a never-ending need for unique, quality stock photography. As a result, there are many market places that need photographers to provide photos to sell. You will need to have a good camera for this one. Moreover, you need to know a little bit about taking a good photo.

However, there is a lot of information out there to get started with for free, so we include this option in our easy things to make and sell for money list.

3. Easy, Trending Crafts to Make and Sell for Money

This is another route where you can sell on Etsy, or you can find in-person craft fairs and markets in your local area to sell things quickly.

Popular & Trending Craft Sale Ideas:

• Jewelry – This is always a top selling category in any craft market space. There is a buyer for just about anything. Friends and family are often supportive of your creative expressions too. I have had friends that have sold jewelry at yoga studios and small businesses around town in addition to their online sales.
• Bath Bombs / Soaps / Lotion Bars – Make these pretty, colorful and appealing and they will sell easily, especially around the Holidays! Bath Bombs are easier to make than soaps and lotions. However, all of them are a great idea, and you can find very good, organic recipes online for just about anything these days.
• Clothing – Here are a few ideas with clothing.
  • Screen Printing: At one point, I joined a little creative art studio in town that rented access to their screen printing. I took lessons from them, and then made my own screen printed clothing to sell. I made several thousand dollars over that year selling these items. Moreover, it was a ton of fun! If you want to screen print – baby and kids clothes with cute prints sell well!
  • Knitting / Crocheting: If I can knit, you can too. I seem to have very little finger dexterity, even with years of piano lessons and hours and hours of typing each day! However, I can knit, and I enjoy it. It is therapeutic even! My mom taught me, and she does not do a lot of fancy knitting, but she has sold scarves and hats over the years. When she wears her creations, people see them and ask where she got them – easy sales for her.
• Toys – Sticking with the kids and babies theme, people are often coming up with easy to make kids and baby items to sell. This is an area where Printables are big too (see above).
• Stickers, Vinyls and Transfers – You can either make these and ship them, or you can create downloadable items for people to create themselves.

4. Sell Your Stuff

Next, it is time to embrace the Minimalism Trend and sell your stuff! This idea is not technically in the “make category.” However, you can still use your creativity and maker-skills with your current possessions.

Perhaps you have stuff you could refurbish and sell. Ideas for refurbishing include furniture, watches, jewelry, antiques, clothing items and accessories. You can also just sell things “as-is.” That is easy for sure.

Easy Places to Sell Your Stuff You Made for Money:

• Ebay
• Etsy
• Craigslist
• Local Facebook Buy/Sell/Trade Groups – search in your local area.
• Mercari – A new one, but gaining popularity.
• ThredUp – (for clothes and accessories)
• eBid
• Bonanza – I like their tag “Find everything but the ordinary.”

There are others, just look around and see what market place fits your items best.

5. Easy Things to Make and Sell for Money from the Homestead

If you like getting your hands dirty, then this idea will be easy for you. I personally do not think gardening is easy. However, I have a lot of friends and family that tell me I am wrong, and that gardening is very easy! Then, if you can grow it, people will buy it.

Produce

It is a very popular and happy trend that people prefer, fresh, local produce. Just put a notice up on Facebook that you have tomatoes to sell, and you will easily sell them. Same with chicken eggs and dairy items. I have purchased eggs from neighbors, and I have even purchased chickens.

Poultry and Dairy

There are places that will pluck and package chickens for you if you want to raise and sell them for meat. I had a friend do this too, and she informed me it was not expensive to get the chickens ready to sell with a local butcher she found. I live in the Midwest. However, I think this is a trend everywhere, so I add even “chicken raising” to the easy money category.

Plants

Growing plants to sell can also be easy, but I would not say fast. Plants are certainly trending though. So, if you have a little more time and a green thumb, growing and selling plants and starter plants is a great idea. You could focus on house plants, outdoor flowers, or even vegetable garden plants.

Gardening Tools & Planters

Are you a Crafty Homesteader? Then there are lots of easy things to make and sell for money here. Here are a few ideas:

• Decorated Planters & Pots
• Garden Markers for Outdoor Plants & Smaller Ones for Herb Gardens
• Gardening tools such as knee pads
• Plant Hangers – Wood and Cloth (Macrame is back!)
• Seed Packets
• Compost – I make my own. I don’t sell mine, but you could! People want good compost. I use this tumbler, and recommend it as a good starter for making compost.

6. Your Plasma

Yep, there is always this option for a fast, easy way to make money. Technically, you make it, and you can sell it. Just find a plasma center near you. Then, make sure you qualify to sell your plasma before showing up.

7. Your Opinions

You also make your own opinions. So, we will give brief nod to Survey Companies in our easy things to make and sell for money. Just do these in your spare time to make a little extra cash.

I used to participate in Pinecone Research, and I actually did make some good extra cash with them! It was enjoyable too, but then I aged into a not as needed age category and my survey options shrunk. Eventually, I didn’t find it worth my time. However, every survey company is different and has different clients, so you can find one good for you to make some spending money.

Take a look at this article that reviews the top survey companies. It does a pretty good job of breaking it all down.

Conclusions on Easy Things to Make and Sell for Money

Both online and in person, there has never been an easier time to find easy things to make and sell for money. Everything we presented here has very little investment money to get started. Mostly, your costs will be any materials needed to make your items to sell.

Simply, find what inspires you and get to it!

The post Easy Things to Make and Sell for Money appeared first on Medicare Life Health.

This article, “Jobs for Retired People” is the second article in our New Series: The New Rules of Retirement.

Jobs for Retired People? Doesn’t retired mean “NOT WORKING?” Maybe, but maybe not! In our Series – The New Rules of Retirement, we are exploring what it means to re-define retirement to fit your needs and lifestyle.

In our last article, we discussed how the “Average American” close to retirement age these days might not have as much saved as they would like. We also did some math to discover what amount of side income might be needed for the majority of Americans to still “retire” when they wanted to.

In our case study, the “Average American” with the most average of savings might need an extra $1,295 a month to live the lifestyle they envisioned in retirement.

Retire Early???

Some of these side gigs might even allow you to quit your job earlier than you thought possible. We have heard stories of people LOVING their side job so much, and actually making good money from it, that they were able to retire from their full-time job early.

Side or Part-Time Jobs for Retired People

The Best Side Jobs for Retired People & People Saving Extra For Retirement

This article will help you to find a fun or creative “Side Job” / “Side Hustle” / “Part-Time Work” or another source of passive income to help you retire or save more for retirement.

A few things to keep in mind:

• First, these are jobs to supplement your retirement savings. They may or may not be HUGE money makers – often they are just a way to make some extra income.
• Second, they are meant to also be enjoyable and creative! Yes, they are still work, but with a retirement flavor and happy attitude. Some keep you active or challenge you mentally. Others are creative, and some even keep you social!
• Finally, you can start these jobs before you retire. Use them as a second job to give your retirement savings an extra boost. In addition, many of the passive income generating jobs take some time to develop. That means the earlier you begin them, the more you can sit back and just maintain them later.

Side Job Category One: Jobs that Keep You Active

Pet Sitter / Dog Walker

Listen, retirement is not getting any cheaper or any easier. Everyone thinks they have enough saved for retirement as they near their golden years, however, the truth of the matter is that majority of people have nowhere near enough money saved. This is likely why you’re looking for a side job in retirement. Either that, or you’re just plain bored.

Either way, becoming a pet sitter or dog walker is a great opportunity to make a little extra money. 

Sites such as Wag! or Rover make it easy to do this. You’re probably already going to a morning walk anyway, so why not bring a furry friend with you and get paid to do it. If you’re really feeling adventurous, you could let the furry friend sleep over and get paid even more.

You could earn several hundred dollars a week all by just living as you normally would, but having an awesome four-legged companion with you. (From Austin with TheLogicofMoney.com)

Handy-Person

If you are good at fixing things, there are a lot of people that are not, and they need your help. People all over need help with small house projects and light outdoor work.

Becoming a “handyman” or “handywoman” might be as simple as making some quick business cards and passing them out to everyone you know. It is a great word-of-mouth, referral business, for those with a solid network of friends, family and co-workers. If you need help finding people to help-out and are comfortable online, services like TaskRabbit, can point you towards people looking for help.

Category Two: Jobs that Keep You Social

Vacation House/Room Renter

Tom Blake, from ThisOnlineWorld, suggests Airbnb as a way to stay both active and social in retirement while making extra money. He includes this in his list of “The Best Gig Economy Jobs – Make Extra Money On The Side.”

Airbnb allows you to make your house, or a room in your house available for rent to travelers. You can make decent side-income renting your home if you live in a well traveled area.

Tom mentions Airbnb is a great way “to make use of any extra space you might have in your home (in case you haven’t downsized) as well as meet new people!” Many of our friends have great Airbnb stories from both sides of the service. It’s a unique travel culture that can provide exciting experiences to an otherwise quiet retirement.

Drive for Uber or Lyft

Uber and Lyft are good ways to make a little extra money while interacting with new people. If you are in a touristy town and like to talk up your local hot spots and events, then you will find your happiness with a driving service.

On the other hand, driving services can also work out for people that don’t like to constantly chat (or drive around tipsy people late at night). Everyone needs trips to the airport, especially in the quite early mornings. Moreover, if you really aren’t feeling social, Uber Eats allows you to drive around food instead of people.

Category Three: Jobs that Keep You Creative

Selling Crafts – Online or In-Person

Craft Fairs are still hot! If you like to craft, you can tour your state (and beyond…) selling your creations. Makers Markets, Junk Stocks, Fundraising Craft Fairs, State Fairs and Flea Markets abound and are fun for all involved.

For those of you like enjoy selling online, the popular markets include Etsy, Artfire and Bonanza. To learn more about how to sell on Etsy and everything it entails, I recommend this article on Successfully Simple Sisters.

If you need help with setting up an online shop, hop onto a site like Fiverr and search for “help with etsy shop” or something similar. You will find freelancers that will help you get started!

Freelance Writer

For those of you that like to write, look into becoming a freelance writer. Online publications (and some local in print ones) are always looking for people to add valuable content to their sites for their readers. We suggest reaching out to the smaller ones you might already read first.

In addition, you can find places to write for by searching for “best sites for freelance writing” or something similar. Here is one article we found to start you off. Insert your specific area of interest to make it more relevant. For example, “best sites for music freelance writing.”

Category Four: Jobs for Retired People that Keep You Busy

Taking Surveys

If you are looking for a way to make money on the side that doesn’t take a whole lot of effort, then taking surveys is a fun way to pass your time. You can sit on the couch, listen to music or the TV, and provide your opinions to people who want them.

Popular online survey sites include Pinecone Research (which I did for a couple years and loved!), Opinion Outpost, Inbox Dollars, and the National Consumer Panel.

If you want to take this one into the “real world,” then look for paid opportunities for participating in Focus Groups and Health Studies.

Category Five: Jobs for Retired People that Keep You Challenged

Start a Blog

Oh boy, if you are up for the challenge, then try starting a blog! People actually do make money from their blogs these days – especially niche blogs. However, there is a steep technology learning curve, if you are not already very comfortable creating online.

Blogging can be a great way to generate passive income. Typically, you can make good money after years of effort, lots and lots of writing, and much search engine optimizing. If you enjoy learning and writing more about a subject you are already passionate about, then you will love blogging. On the other hand, you will also have to find learning about blogging interesting, because half of your time will be devoted to that.

Tutor or Teach

Both in person and online, tutors and teachers are in demand. If you have a field of expertise or passion for helping a certain age, then start there. This is a great business to grow by word-of-mouth if you have a decent network of friends and family to reach out to, but there are also businesses that can bring you students. Tutoring centers exist both online and in physical locations and are always looking for qualified help.

If you have graduate degrees in certain areas, you can look into teaching at your local universities and community colleges as an adjunct professor. Certain fields are always looking for people with Master’s degrees and beyond to teach both online and in person classes.

Jobs for Retired People Conclusions

There are so many opportunities to create the kind of retirement and work-life you want in our new economy. The New Rules of Retirement say you have the creative power to shape your life.

You can work and play at the same time with these part-time jobs.

We will be continually adding to this list. We would also love to hear your suggestions and what has worked well for you. Please email us or comment below.

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