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When is the Right Time to Consider a 55+ Community?
W
hile making life decisions, including when to move, is an individual choice, I have found most people considering a change to this lifestyle are somewhere between retirement and needing assisted living. The RightSizing Dilemma The biggest stumbling block to adopting an Active Adult Living Community Lifestyle is often the daunting task of moving. Many folks a this stage of their lives reside in the family home where for years they raised their family and accumulated stuff to show for it. It’s the stuff that is the issue and the family discussion goes something like this: • What should we keep? • What will the kids want? (Very little, in truth ) • What gets donated and where? • Is any of this worth money? • How do we sell stuff? Yard Sale, Facebook Marketplace, Craig’s List? • And the overwhelming problem of, where do we start? This one factor, in my opinion, delays folks from moving to the next chapter of their lives between three and five years. Like most things, moving only gets harder the older we get. To enjoy an Active Adult Lifestyle, you need to embrace it while you can still be active, which in turn will keep you active longer. In fact, Wellness, Freedom, and Friendships are the 3 Pillars this lifestyle is built on. I haven’t had anyone tell me they wished they had waited longer to move to an Active Adult Community; only lamenting that they hadn’t done it sooner. Don’t be like them. You’ve spent a lifetime looking forward to enjoying the rewards of your retirement. Don’t wait! Enjoy them now!
Karen Spell, Broker, SRES, J.D., 55+ Community Expert Helen Adams Realty 321-279-1384 kspell@helenadamsrealty.com PurplePineappleRE-NC.com
36 LimitlessMagOnline.com | May 2020
True Wealth – Funding the Possibilities
M
y True Wealth philosophy is founded on the “Dream It” gene, but the pragmatist side of most of us, asks, “How do we pay for it?” The reality is that the road to “limitless” adventures is paved with dollars and sense. The main question, then, when exploring your possibilities is, “How do I replace my income to maintain my lifestyle?” This is a fair question with multiple potential answers. Strategies can include retirement accounts, pensions (not as prevalent today), and potentially inheritance as conceivable options. Social security is another resource. This is where having a good sense of where you currently stand financially is essential. The natural tendency is to want to get the government payout as soon as possible, which is technically age 62, but is that the best decision for you? Here are a few factors to consider: Life expectancy: Longevity is a guess. Look to your family history for guidance. Benefits taken early are reduced. Benefits delayed are increased. Retirement Income Needs: Can you afford to wait? Delay of your benefit after normal retirement increases gross monthly benefit by approximately 8%. Taking benefits at age 62 reduces benefits up to 70%. What other resources are available to you? Marital Status: Claiming decisions should be considered both individually and as a couple to maximize income for both life expectancies. Be sure you have established your account with Social Security at www.ssa.gov and know your benefits. Calculators are available to help you understand the dollar options. Choose wisely because you don’t get a second chance.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. Securities and Advisory Services provided through LPL Financial, a Registered Investment Advisor, Member FINRA, SIPC.
Jeffrey Karp, CLU®, ChFC®, CASL® founder of Karp Financial Strategies and is a registered agent representative of LPL Financial. More information and his blog, Permission GrantedSM can be found at www.karpfinancial.com.
