Golf and playing cards aren’t the only things to do in retirement. At least not at many retirement communities, which specialize in unusual activities or cater to retirees with the same interests.

“Just because someone is old doesn’t mean they want to sit around and play Bingo and watch TV all day,” said Don Shulman, general manager of Fox Hill Senior Condominiums in Bethesda, Maryland, in a telephone interview with WalletPop.

Baby Boomers and their children have moved more often and are spread across the country more, leaving retirees searching for a new sense of community and housing where they can be around people who share the same interests. From senior housing for hippies to people who want to live in high luxury, there are retirement communities for all tastes.

Continue reading Most unusual retirement communities: There’s something for everyone

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Money is only a small part of what makes you happy after you retire, says blogger Sydney Lagier, a former certified public accountant who left the working world two years ago at the young age of 44 and now writes about the experience of escaping the grind for U.S. News & World Report.

Here are what she says are the seven secrets to retirement happiness.

• Good health: Be healthy enough to enjoy yourself.
• A significant other: It doesn’t matter whether you’re married or just living with a partner and enjoying life, so long as you have someone to share the good times.
• A social network: Socialize not just with your children and grandchildren, but with plenty of friends and acquaintances as well.
• Avoid TV: At least two studies confirmed that unhappy people watch the most TV.
• Intellectual curiosity: Do things that keep your brain chugging along.
• Don’t be overly ambitious: If it’s important to you to be the top dog, you probably won’t like retirement.
• Enough money: You don’t have to be rich, but you need to be able to pay the bills. You won’t be happy if you spend all your time worrying about where your next buck is coming from.

I thought this was a fine list. But since I’m not retired yet, I decided to seek out an expert opinion. So I walked down the street to Bob’s house on the corner.

Continue reading Insider secrets to enjoying a long and happy retirement

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Six out of 10 Americans who aren’t yet receiving Social Security believe they never will, according to a Gallup Poll conducted earlier this month. A similar number — 56% — of retired Americans now collecting Social Security believe their benefits will be cut.

Yet getting rid of Social Security or even reducing payments to current or soon-to-be recipients would be an incredibly hard sell. About 26 percent of retirees depend solely on Social Security. The National Center for Policy Analysis also calculates that Social Security provides one-third of the retirement income of the highest-earning households — couples with pre-retirement incomes of $500,000 and singles who earned at least $250,000.

This year, according to the U.S. Census Bureau, about 16% of the population is 62 or older — and most are eligible for Social Security. By 2020, 20% of the population will be 62 or older and by 2030 that number will peak at 30%. Running for office without the support of that chunk of the population is almost unthinkable.

For some options to reform Social Security, take a look at the American Academy of Actuaries’ “The Social Security Game,” where you can try your hand at coming up with alternatives. Personally, I’m in favor of pushing the retirement age a little higher and making everybody pay Social Security taxes on every dollar they earn, instead of capping payments. This year’s cap is $106,800, which means a lot of high earners don’t pay on a large portion of their income.

But if you think my ideas are bad ones (or even harbor some better ones), the actuaries offer lots of other alternatives that work and preserve this important safety net. Plus, you can always comment below.

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Last month, I wrote about a big move by the Treasury Department to make all payments from the U.S. government electronically. In the announcement, Office of Management and Budget Director Peter Orszag called the change a “win-win for the American public.” Now, we’re hearing from others with a different opinion.

Consumer rights groups, including the Consumer Federation of America and Consumers Union, have stepped forward to say that the real winner here could be banks and payday lenders.

The issue at stake is that, while the Social Security Administration says that 83% of all Social Security and SSI beneficiaries receive their benefits by direct deposit, the elimination of paper checks may be forcing the rest into a situation that could put them at risk for expensive payday loans and high fees.

Continue reading Social Security’s electronic payment system criticized

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For older Americans surveyed by Allianz Life Insurance Co., death is not such a big deal. Not, that is, when it compares to the spectre of a dwindling bank account. In a poll of people between the ages of 44 and 75, 61% said that running out money was their biggest fear. The remaining 39% thought death was scarier.

With a couple of banking crises under our belts, we’ve become almost entirely focused on the monetary aspect of advanced age. The context is important. The poll of 3,257 people, released last month, found that a whopping 92% of respondents agreed that “the United States is facing a crisis in its retirement system,” the AARP wrote about the report.

Continue reading Compared to running out of money, fear of death is no biggie

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You probably wouldn’t realize it from the way credit card companies market to consumers willy-nilly, but there are big differences between the “ideal” credit card for a college grad and those marketed toward his or her grandparents. According to experts WalletPop interviewed by phone recently, you really need to keep in mind what stage of life you’re in (young adult, married, senior and so on) when you shop for a credit card.

We consulted with Curtis Arnold, founder of CardRatings.com, and Gerri Detweiler, credit adviser for Credit.com, to ask them for advice and strategies consumers at seven critical life stages should use when they consider applying for a credit card.

Do you have the right card for your life stage? Read on. You may be surprised at what you learn.

Continue reading Choosing the best credit card for your age

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By Caitlin Dewey, Kiplinger

Striking a balance between a high quality of life and low cost of living can be a difficult challenge for retirees. With that in mind, we at Kiplinger offer five destinations that seniors might find attractive places to live in the second half of their lives.

SLIDE SHOW: See the 5 Great Cities for Retirees, at a Glance

We started our search for top retirement destinations using the criteria we used to select our overall list of Best Cities for the Next Decade. What more are seniors looking for? Retiree-friendly factors such as a high number of doctors and large percentages of populations over 65 helped to drive a unique list of 20 growing cities.

Then we dug deeper into issues most critical to retirees, including state tax rates and exemptions for various types of retirement income, low crime rates, access to airports, local transportation, and access to leisure activities, from libraries and theaters to hiking and golf. Take a look — and tell us what you think is the best place for you to retire.

Continue reading Kiplinger’s 5 great cities for retirees

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So your 401K has been hammered and you’ll have to work to the age of 100 to afford retirement? Not necessarily, according to Kathleen Peddicord, an expert on retiring to less expensive places outside the U.S. There are, she told me, spots only a few hours of plane time south of the U.S. where an American could find a lifestyle much like at home for only $1,200 – $1,500 a month. If you’re willing to ‘go native’, you could “live very well for under $1,000″.

Peddicord, author of the new book How To Retire Overseas, now lives in one such place, Panama City, Panama. She told me in a phone interview that, while not the bargain it once was, lodging, food, utilities and medical care are up to U.S. standards there, yet far less expensive.

Continue reading How to save money by retiring overseas: advice from an expert

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Today the Treasury Department will announce that all payments from the U.S. government will be made electronically to consumers. So people receiving Social Security, Supplemental Security Income, Veterans, Railroad Retirement and U.S. government benefit recipients will receive benefits either through direct deposit into a bank account or through Treasury’s Direct Express debit card.

“Today’s announcement is a win-win for the American public because it makes government more convenient and cost-effective while generating significant savings for the country,” says OMB Director Peter Orszag about the program that is estimated to save the government $303 million in the first five years – including $48 million annually on postage. “This is precisely the type of smart, streamlined improvement that this Administration is committed to making across government to boost efficiency and modernize how we do business.”

Continue reading Social Security and government payments go all-electronic

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Membership has its privileges, the question is — are they worth it? Unequivocally, the answer is a resounding … maybe! Ultimately, the value of anything depends on how much you use it. If you pay $399 for a Disneyland annual pass and go once, that’s an expensive trip. If you buy the same pass and go 200 times you’ll be paying $1.99 per day –a deal! You might be singing It’s a Small World in your sleep, but you will have received your money’s worth.

WalletPop has rounded up ten types of memberships worth the cost, including one you literally can’t afford to miss. Whether you consider yourself a “joiner” or not, sometimes paying for privilege really does add up in your favor.

Continue reading 10 memberships worth the money

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