Retirement Living Guide for Senior Citizens

By Linda Richard

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.

• Language: English
• Publisher: Linda Richard
• Release date: Jul 29, 2011
• ISBN: 9781450786874

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.

Book preview

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.

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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

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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.

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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

Reviews for Retirement Living Guide for Senior Citizens

[D W · Rating: 5 out of 5 stars]

Very 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