Author Archive for Tom

Barbara Corcoran’s Nextville has been in stores for a month now, and we’re wondering what you’re thinking about retirement and real estate. Take our poll and let us know.

Filed under: Boomers

The Society of Actuaries just released a report about the top retirement concerns and risks. US News & World Report’s Emily Brandon reports on their findings with the top 5 risks:

Inflation. Between 1980 and 2007, U.S. inflation averaged 3.5 percent a year, ranging from 1.1 to 8.9 percent. And yet most retirees have only one source of inflation-adjusted income: Social Security. Time-tested strategies to beat inflation include investing in stocks and stock-based mutual funds, owning a home and other assets, holding TIPS (Treasury inflation-protected securities), buying annuity products that offer a cost-of-living adjustment, and delaying tapping your retirement assets for as long as possible.

Outliving your assets. A 65-year-old American man can expect to live 17 years on average, while a woman the same age can expect to live 20 years. Fully 30 percent of women and 20 percent of men can expect to reach age 90. Defined-benefit pension plans, Social Security, investments that preserve principal, and deferred annuities that commence at high ages, such as 75 or 80, can all help protect assets.

Loss of a spouse. Women have longer life expectancies and tend to marry men who are older than them, so a widowhood period of 15 years or more is not uncommon. The death of a breadwinner spouse can trigger a dramatic decline in your standard of living. A single person requires nearly 80 percent of the income needed by a married couple, according to the Society of Actuaries. Yet the Social Security benefit paid to a survivor is typically only from 50 to 67 percent of what the couple received. Married couples can consider joint and survivor annuities and life insurance, plus strategies for maximizing their Social Security benefit.

Long-term care. Long-term care options include home care, adult day care centers, assisted-living facilities, and nursing homes. What they have in common: They’re all expensive. The cumulative cost of care may amount to $1 million for a couple, with nursing home costs reaching $70,000 annually. Long-term-care insurance can help pay for the cost of caring for disabled seniors.

Healthcare and medical expenses. Nearly all retirees and those near retirement say they maintain a healthy lifestyle, and three quarters have or plan to have supplemental health coverage. But retirees need to be prepared for unexpected health problems, Medicare premiums, and the expenses that Medicare doesn’t cover.

Filed under: Boomers

Filed under: Books

If you already subscribe to the Springboard newsletter, good for you! But if you don’t then you missed out on a great Q&A with Barbara Corcoran about her new book Nextville.

Q: What made you want to write Nextville?

Barbara Corcoran: I believe in the transforming power of place, and I truly believe there is a perfect place where each of us is meant to be. I don’t even like to use the word retirement, as it suggests your useful life is over and you’re on your way out. Today retirement is more about doing rather than resting, and I wanted to show people how to find the perfect place where they could become the person they’ve always wanted to be.

Q: When it comes to retirement, what do baby boomers worry about?

BC: Our generation is living longer and we also want to live larger. We don’t want to follow the same path as their parents. With so many options today, the question of retirement is more confusing. Baby boomers are afraid they’ll make the wrong choice and get stuck in a place they don’t belong.

Q: What are the top 3 things baby boomers should consider when deciding where to retire?

BC: You should choose the place that best matches up with what’s in your soul and focus on your passions, not your pastimes. There are too many boomers who settled for a nice condo on a Florida golf course. A person’s move should be motivated by different things, like a desire to live young, live green, form a new community with friends, or even rediscover the place where they already live. My “Where to Live Happily Ever After” Quiz in the book is a good place to start.

Q: What are the new real estate trends people should pay attention to?

BC: Two out of three people today want to continue working in their retirement, more people are interested in green living, and more people want to contribute in a meaningful way to the community they’re living in. Everyone’s thinking outside the hammock.

Q: If you were to retire today, which amazing place would you move to, and why?

BC: I’m what I’d call in the book, a “boomerang.” If I were to retire today, I’d keep one foot firmly planted in New York City, where my friends, family and livelihood reside, and the other foot happily submerged in the water at the beach.

You can subscribe to the newsletter by clicking here and you can check out more from Barbara at her great blog.

Filed under: Books

Barbara Corcoran’s new book Nextville will be in stores in a few weeks, and already people are talking.

On iVillage here’s what they say:

Here’s an interesting new book that came across my desk today. While I’m a long way from retirement, I confess that I periodically daydream about what it would be like not to have to get up every morning and rush off to work. In Nextville: Amazing Places to Live for the Rest of Your Life, real estate expert Barbara Corcoran give her advice for how to find the right community for your retirement and suggestions of some of the places that might fit your future lifestyle whether you’re looking to live green or pursue your passion…

The book was also reviewed in the Retirement Living News monthly newsletter:

…Corcoran reveals the smartest real estate choices they can make today to ensure a secure, comfortable, and fabulously fun tomorrow…”

Barbara will be on the Today Show later this month to promote the book, and look for her in the April issue of Redbook too!

Filed under: Media

Yesterday on its Health Blog, The Wall Street Journal is reporting on advances in Alzheimer’s treatments.

Alzheimer’s is on the rise, but scientists are making progress on treatments they think may finally make a dent in the disease.

But as Forbes reports, researchers still aren’t certain about the cause of the illness. That gap in knowledge means that a range of drugs that aim to clear the brain of amyloid plaque, clumps of protein fragments that are one of the hallmarks of Alzheimer’s, may never work.

It’s distressing to hear that they’re still so unsure about the disease, but at least they feel like they’re getting somewhere. Read the rest of the post here.

It’s even more distressing when you see the numbers that the Alzheimer’s Association report:

5.2 million Americans have Alzheimer’s disease now.

7.7 million Americans will have it by 2030.

71,696 Deaths from Alzheimer’s in 2005.

45% Increase in Alzheimer’s deaths since 2000.

$148 billion Yearly cost of treating and caring for these patients.

The print edition of the WSJ’s “Blog Watch” section last week listed a few Alzheimer’s-related blogs that they’ve been keeping an eye on:

-Living with Alzheimers’
-The Yellow Wallpaper
-MYSA.com’s Alzheimer’s blog

Are there any others that you think are good?

Filed under: Boomers

  
Michael Farr’s great new money book, A MILLION IS NOT ENOUGH hit stores earlier this month and the web has been buzzing. Check out all these reviews and mentions of the book from around the internet.

-Fresh Fiction
-Statesman.com
-Armchair Interviews
-Money Matters 101
-Monsters & Critics
-Debt Law Network
-Retirement Insider

And lots more to come!

Filed under: Media

Women everywhere are obsessed with Charla Krupp and HOW NOT TO LOOK OLD–it’s been on the bestseller list for 9 weeks now!! And it’s still going strong. Check out what everyone on the web is buzzing about:

Salon.com
MSNBC.com
The Best Kept Secret
Empty Boxes
The Ledger.comAnd of course, there’s lot’s more to come!!

Filed under: Media

Obviously SpringboardPress.net is your most favorite!  But what other sites and blogs do you check out?  Here are some of our favorites (in no particular order):

Eons
Gather
Third Age
More
TBD
AARP
Aging Hipsters
Life Two
reZoom
My Next Phase
The Transition Network
About My Generation

Tell us in the comments which sites you like to visit and why!

Filed under: Boomers

Send Yourself Roses collaborator, Gloria Feldt has been blogging away on the Huffington Post.

Check out what she’s been talking about here.

Filed under: News