Retirement Living Guide for Senior Citizens
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About this ebook
Preparation for retirement takes a lifetime, and few are ready when it arrives. If you are nearing retirement age or are just curious about how retirement affects you and how you can make the best of being a senior citizen, this retirement living guide is easy and informative reading. Explore the potential of your retirement years with help and tips for your money, safety and future.
Linda Richard
Linda (deceased) and Darrell Richard enjoyed over 50 years of marriage and two grown children. We had collaborated on several publications, but this Retirement Living Guide for Senior Citizens is their first book in the self-help and retirement category.
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Reviews for Retirement Living Guide for Senior Citizens
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- Rating: 5 out of 5 stars5/5Very informative covers everything whether you near retirement or have a few or more years before you are going to retire I would recommend this book to anyone who is near retirement
Book preview
Retirement Living Guide for Senior Citizens - Linda Richard
Retirement Living Guide for Senior Citizens
By Linda Richard
Third Revised Verson 2023 Author Name Corrections
Second Revised Version 2019 with New Information and Updated Figures
First Revised Version 2013
Copyright 2011 Linda Richard
ISBN 978-1-4507-8687-4
Smashwords Edition, License Notes
This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.
Our sincere thanks to Chris Richard and Mary Susan Black for editing this text to bring you a concise guide for making your senior years the best of your life.
~~~
Table of Contents
Introduction
Senior Citizen Advantages
Chapter 1--Retirement
Plans
Location
Social Security
Early Retirement
Penalties
Full Retirement Age
Spousal Benefits
Supplemental Security Income (SSI)
Chapter 2--Save Money
Live on Less
Structured Settlement
Reverse Mortgage
Reduce Your Mortgage Payment
Homestead Exemption
Private Mortgage Insurance (PMI)
Pay Bills
Timely Payment
Increase In Price
Discounts
Credit Score
Coupons and Specials
Income Taxes
Food Bills
Chapter 3--Senior Health Care
Medical Care and Medicare
Chapter 4--Save Energy
Kitchen
Laundry
Living Areas
Lighting
Chapter 5--Go Green
Use Natural Products
Recycle
Chapter 6--Seniors and Safety
Phone Calls, Personal Information and Scams
Online Safety
Virus Protection
Buying Online
Internet Safety
Shortened URLs
Refunds on Internet Purchases
Home Security System
Emergencies
Health
Electrical Outage
Outage Special Needs
Chapter 7--Insurance
Homeowners Insurance
Renters Insurance
Automobile Insurance
Chapter 8--Earn Money In Retirement
Self Employment
Choose your Business
Chapter 9--Lawn and Garden
Lawn Care
Flower Beds
Selling Plants and Flowers
Chapter 10--Learning and Work
Shopping for Profit
Senior Learning
Sources and Resources
About the Author
Connect with Us Online
~~~
Introduction
Senior citizens see change at every turn. Some changes, like retirement, are created by you; others are created for you, with or without your approval. Social Security is a new adventure; even the federal and state income tax rules change for seniors. Things you have done for years suddenly have new rules that apply to the over 65
group. You must adopt and adapt to these new features in your life.
Grow old along with me!
The best is yet to be,
The last of life, for which the first was made.
Robert Browning
You have spent your entire life preparing for retirement and the future. Your future is now.
to table of contents
Senior Citizen Advantages
Take advantage of being a senior citizen. Sleep late occasionally, work your own schedule, learn new things and accept benefits for seniors. This includes Social Security, a senior drink at McDonald’s and other food locations, and discounts at some business establishments. Even federal income taxes give seniors a little break. You earned it, so use it.
to table of contents
Chapter 1--Retirement
Plans
Make plans for retirement and be able to enjoy some time with family and time off work. It's wise to start a few years in advance of your intended retirement date. Social Security will not take care of all of your bills, and it is essential to make plans to supplement Social Security or have Social Security supplement your primary income or pension during retirement years. The Social Security Administration estimates that retirees need 70 to 80 percent of preretirement income, and that Social Security provides about 40 percent. At a minimum, you will need to match your Social Security income, but money is not the only consideration for making retirement plans.
Plan with or without relatives. Choose which relatives to involve in retirement planning. Leave retirement plans open and subject to change as circumstances change.
Be flexible for retirement. Adapt retirement plans to fall into place as work, health, and the health of a mate may change. Make changes to retirement plans to take care of issues important at this moment as well as in the future.
Pay off any debts. Plan for retirement by paying off any debt you may have, including credit card debt. Make large purchases like an automobile before retirement, and plan to live on less. The less debt you have, the less money you'll need for living expenses during retirement.
Prepare for retirement by paying for your home to eliminate house payments. Save items that will entertain you in retirement as well as items that you may sell if needed. Build your nest egg in ways other than cash on hand.
Do some calculations for retirement planning. Use the figures on the Social Security website to calculate how much money you will receive each month. Calculate any amounts your spouse may receive. Then calculate those items now taken out of your paycheck that you will need to pay in retirement, including health insurance and income taxes. Yes, you probably will have to pay income taxes on Social Security and other income during retirement years. We’ll talk about