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Health Insurance Options for Seniors

Not all seniors arrive at retirement age in the same boat. Many plan to retire from their jobs, while others will continue working. Some seniors may have retired early. As a result, … See more

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URL: https://www.hellawealth.com/blog/money/your-guide-to-health-insurance-options-for-seniors/

Paying for healthcare costs in retirement Considerable

WEBFidelity doesn’t estimate long-term care costs in the new survey because there are too many variables, the company says. But the average cost of a semi-private room in a nursing home is $245 per day or $7441 per month, according to Genworth.And experts estimate that seven out of ten Americans over 65 will need some form of long …

Category:  Health Go Health

Exploring Governmental Benefits for Seniors Over 65

WEBBottom line. When it comes to the well-being of older adults, the government can be of crucial support through an array of benefits. From healthcare coverage to money to fix up a home, these government benefits for seniors over 65 aim to facilitate a more fulfilling existence for our aging population.. So, don’t forget to explore the different …

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Genetic-testing scam is targeting older people and ripping off …

WEBThe inspector general issued a fraud alert in June, urging seniors to refuse unsolicited requests for their Medicare numbers and take DNA tests only with the approval of a doctor they know and trust. By Medicare rules, DNA tests must be medically necessary and approved by a physician who is treating the patient.

Category:  Medical Go Health

IRS raises HSA contribution limits for 2020

WEBThanks to a bump in contribution limits in health savings accounts, the IRS will let you put aside more pre-tax money in 2020. In 2019 the maximum contribution for an individual is $3,500, and for a family, it’s $7,000.

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Retirement Budget Planning for a Secure Future

WEBHere is a more detailed breakdown of the average monthly spending for single retirees in 2023: Housing: $1,573 (includes mortgage or rent, property taxes, utilities, and homeowners insurance) Food: $632 (includes groceries, eating out, and food delivery) Transportation: $483 (includes car payments, gas, insurance, and public transportation) …

Category:  Food Go Health

25 ways we’re reinventing ourselves after 50

WEB25 ways we’re reinventing ourselves after 50. The data confirms it: As you reach midlife, you’re not alone in feeling the urge to reinvent yourself. When you look at the numbers for how Americans over the age of 50 are approaching work, marriage, caregiving, fitness, health, and more, what you see are some pronounced shifts.

Category:  Fitness Go Health

How to reinvent your life after 50

WEBGetting it right is the secret sauce for a happier second half. Bruce Springsteen has always been a storyteller. Yet in 2017, at age 68, he found a whole new way to tell stories—on Broadway—and a whole new batch of stories to tell. Mixed in with his older songs about working class rebellion and romances that ended badly, the Boss …

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Are you part of the middle class

WEBAccording to a Pew study released last fall, the median income of middle-class American households is $70,784, based on Census data from 2021, the latest available. (Pew defines middle class as two-thirds to twice the U.S. median household income, adjusted for household size.) So where do all these middle-class folks live?

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Nursing home stocks might be the next hot investment

WEBThe companies address a variety of nursing home needs, ranging from independent living to assisted living and memory care. While the underlying business models of nursing homes have been challenged lately because of tightening government reimbursements, Kiplinger notes that most boomers are still a few years away from the intensive care offered at …

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When is the Best Time to Retire

WEBPlanning for retirement requires more than just dreaming. It requires being strategic and focused on saving money. According to a Gallup poll, the average age for Americans to retire is 66, which is higher than the average age of 60 in the 1990s. But did you know selecting the perfect moment for retirement has a big impact on your financial …

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What led this successful surgeon to join the Navy at 63

WEBThis particular dog’s latest feat: joining the Navy at age 63. Meet Tyrone Krause, chair of surgery at Jersey City Medical Center (JCMC), who earlier this year was inducted into the U.S. Navy Medical Reserves on the USS Ramage. The cherry on the sundae: The person inducting him was his daughter, Laura, 27, an ensign on the destroyer.

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The best “senior” discounts you can nab before you turn 60

WEBClothes shopping. Only a few retail stores reward you before age 60, but The Senior List reports that you can early 10% off at Banana Republic starting at age 50, and 10% off at Dress Barn on Tuesdays or Wednesday if you’re 55 or older. In Florida only, according to The Senior List, you can earn 10% off at TJ Maxx on Mondays if you’re 55 …

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Want to scale back from work without stepping down

WEBFarnham is one of many workers who would like to phase into retirement gradually, with fewer hours, less demands, and more satisfaction. Research from the Transamerica Center for Retirement Studies reports that 62% of Generation X workers and 68% of Baby Boomers would like to transition into retirement. “ Considering most people …

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A Guide to Retirement Withdrawal Strategies

WEBBest way to withdraw from retirement accounts: 5 smartest retirement withdrawal strategies. 1. Withdraw funds from your IRAs or 401k plans as late as possible. Withdrawing funds from your IRAs or 401 (k) plans as late as possible in retirement can provide several benefits: Tax advantages: Traditional IRAs and 401 (k) plans offer tax …

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The most stressful states ranked Considerable

WEBThe top 10 most stressed states. 1.Louisiana. Earning the dubious title of most stressed-out state in America, The Pelican State has risen from its 2018 position as second most stressed state. Louisiana ranks 5th in both average hours worked per week and percent of unhealthy employees, not to mention low credit scores and some of the …

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The signature smell of all 50 states

WEBThe signature smell of all 50 states. Magnolia, Patchouli and Sandalwood? I must be in Tennessee. According to Homesick Candles, every state has its own unique scent. And they’ve created individual candles for every one of the nifty fifty. As I write this from our New York office, I begin to wonder what our state’s fragrance might be.

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Widowhood: Preparing for life without your spouse Considerable

WEBOne reason for the struggle: like McKinney, the vast majority of widows are financially unprepared for life without their spouse. According to the Merrill Lynch/Age Wave survey, following the death of a spouse, half of widows experience a household income decline of 50% or more. And 76% of current married retirees surveyed said they would …

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15 States With No Tax on Retirement Income

WEBSouth Dakota. Tennessee. Texas. Washington. Wyoming. New Hampshire. If you live in these states, you won’t have to pay taxes for wages and salaries, stock gains, and profits from all investments. Following similar tax exemptions, these are also states with no tax on retirement income, including Social Security benefits, 401 (k), IRA

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6 cities with the happiest retirees

WEBPersonality: Sun-Chasers Who Love Authentic Mexican Food and the Mountains. Hugged by four mountain ranges – the Santa Catalina, Santa Rita, Tucson, and Rincon Mountains – Tucson’s breathtaking landscape makes you wonder if the composers of “America the Beautiful” spent some time here. “I feel a kinship to the mountains,” says …

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20 Part-Time Job Ideas for Retirees

WEB20 best part-time jobs in retirement. 1. Consultant. Average age: 43 years old. Average hourly pay: $36. This is one of the best part-time jobs for retirees. As a consultant, you get to leverage your years of expertise and knowledge in a specific field to help businesses or individuals.

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14 Best Jobs for Seniors Working from Home

WEB1. Tax accountant or bookkeeper. Median hourly pay: $37.14 Job outlook (drop or growth rate from 2021 to 2031): 6% Requirement for similar work experience: None Tax accountants and bookkeepers play a crucial role in managing financial records and ensuring compliance with tax laws.

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