A recent article at USA Today refers to seniors racking up credit card debt during their twilight years and not worrying about whether they can pay it off in their lifetimes as a dirty little retirement secret. According to a study by Cesi Debt Solutions only 4% of retirees delayed their retirement due to debt. An amazing 30% had no savings when they retired. Most retirees did have some form of debt when they retired.

The study showed 35% of retirees had credit card debt upon retirement and slightly under 30% had incurred credit card debt since retiring. Almost 40% of those surveyed that had incurred credit card debt since retiring indicated that they had no plan for paying off the debt and were not worried about paying back the debt during their lifetime. If they do not pay off the debt during their lifetime the debt will come out of their estate. If the estate isn’t large enough to cover all of the debt then the creditors are out of luck. Children do not inherit their parents’ debts.

What do you think? Is it wrong for seniors to rack up debt that they know they won’t pay off or is it just a wise use of credit?

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Retirement: News, Appraisals, Information, Research, Advice – Everything Life Settlements

Now through December 31, 2010, Lending Club IRA users can receive up to a 3% cash bonus when they make an additional transfer and investment through their Lending Club IRA.

Rollover, transfer, convert or contribute an additional:

* $5,000 and receive a 1.5% cash bonus
* $25,000 and receive a 2% cash bonus
* $50,000 and receive a 2.5% cash bonus
* $100,000 and receive a 3.0% cash bonus

* To receive your bonus, all funds must be newly transferred between the date you enrolled in the program (but not earlier than November 15, 2010) and December 31, 2010, continuously maintained in your Lending Club account and fully invested on the Lending Club platform by January 31, 2011. Existing account balances and transfers prior to your program enrollment date will not be counted towards satisfaction of the necessary transfer amount to earn this bonus. Your bonus, if any, will be deposited into your account or mailed to your address on file by February 15, 2011. Program may be discontinued at any time without notice. Failure to fully invest the new funds by January 31, 2011 will result in your not qualifying for this bonus. Transactions in the secondary market (the trading platform operated by FolioFN) do not count as “investing funds” towards earning the bonus. This bonus payment, if earned, is taxable so please consult with your personal tax advisor. You are responsible for any taxes related to this offer. Void where otherwise prohibited. This offer may not be combined with any other offer.

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Retirement: News, Appraisals, Information, Research, Advice – Everything Life Settlements

Trilogy, is offering modern, active adults an online personality assessment that is aimed to provide participants with deeper insight into their personality types and how those relate to where they would like to live. The survey, at www.trilogylifescape.com , is a fun, interactive way to engage baby boomer participants while also giving them an opportunity to learn more about themselves.

To make the free Lifescape quiz easily accessible, Trilogy is introducing it through numerous online outlets that are relevant and best represent baby boomers’ interests. The six-section personality quiz includes visuals of various living communities and settings, questions about travel and entertainment preferences, and even inquiries as to the quiz taker’s interests and causes – with a goal to dig deeper into what the 55+ active adult population truly desire in their lives at a time where they may be searching to gain new experiences.

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Retirement: News, Appraisals, Information, Research, Advice – Everything Life Settlements

A new debt proposal from a fiscal commission appointed by President Barack Obama is proposing deep cuts in federal spending including Social Security and Medicare. The proposal also suggests significantly reducing income tax rates and eliminating practically all tax breaks such as the mortgage interest deduction. The plan also calls for raising the Social Security retirement age first to 68 and eventually to 69. Enacting the proposal is supposed to reduce the deficit to 2.2% of GDP by 2015.

Both Democrats and Republicans are already balking at different provisions in the proposal. You can view lawmaker’s reactions to the debt proposal here. Or you can view the actual debt commission report.

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Retirement: News, Appraisals, Information, Research, Advice – Everything Life Settlements

You’ve worked so hard to get to this point; you don’t want to spend your Golden Years rusting away in a city that’s not a good fit. You don’t ask for much: affordable housing, social and recreational opportunities, continuing education, quality health care options and a climate that suits you.

The editors at Livability.com have eliminated much of the guesswork and compiled a list of the best places to retire based on accessibility, affordable and diverse housing options, a rich arts and cultural scene, opportunities for continuing education, and availability of health-care services, among others.

Livability.com highlights these cities’ attributes through engaging editorial; stunning, original photography, video tours and testimonials from other retirees.

A few of the Livability.com featured cities for retirement include:

Danville, KY

Harlingen, TX

Mt. Juliet, TN

Burlington, VT

Go to Livability.com to see their full list of retirement cities.

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Retirement: News, Appraisals, Information, Research, Advice – Everything Life Settlements

Sun Life Financial Inc. recently released in the United States the latest edition of its UnretirementSM Index, which reveals that more than 8 in 10 American workers believe they will need at least three years to rebuild their retirement savings as a result of the economic crisis — up from 64% a year ago. In addition, more than half the working Americans that responded (52%) expect to work at least three years longer than originally planned — with just as many believing they will retire at 70 as those who believe they will retire at 65.

The Unretirement Index shows that the state of the economy and Americans’ pessimism about their finances may also have a significant impact on voting habits in the upcoming mid-term elections. Over half of those polled (51%) said that due to the economic climate and their own financial insecurity, they plan to vote against the incumbent in the upcoming elections regardless of the incumbent’s political party.

Sun Life also has now created a Personal Unretirement Index feature on www.unretirementindex.com that allows consumers to take the survey to find out what their Unretirement Index number is and what it means, while getting resources intended to help them start the retirement conversation with their advisors. As part of the feature, people can easily share their Unretirement Index number with friends and followers on Facebook and Twitter, as well as see how they compare to other people in their age group and geographic range

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Retirement: News, Appraisals, Information, Research, Advice – Everything Life Settlements

According to several news sources it appears unlikely that there will be a cost of living adjustment (COLA) increase for Social Security in 2011. This would be the second year in a row without an increase. The COLAs are set automatically according to the Consumer Price Index for Urban Wage Earners and Clerical Workers. This index has been used since 1975 Since the CPI-W is still not at the levels it was in 2008 the measure does not call for increases to Social Security.

Many feel that the CPI-W does not accurately reflect inflation as it applies to the elderly. With Social Security already facing shortfalls it is doubtful Congress would adopt a different measure that would lead to more and larger increases in Social Security benefits. It is possible that there will be a special one-time payment of $250 if Congress passes a bill calling for one. A similar measure this year did not pass though.

On the bright side it is predicted that there will be sufficient inflation as measured by the CPI-W to lead to an increase in 2012.

Visit the Social Security website for more information on how COLA benefits are calculated.

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Retirement: News, Appraisals, Information, Research, Advice – Everything Life Settlements

This isn’t about retirement but it is a good deal so I decided to share it with you.

• 0% intro APR on balance transfers for a full 12 months, then the Regular APR
• 0% intro APR on purchases for a full 6 months, then the Regular APR
• Get $100 Cashback Bonus when you make $500 in purchases within 3 months
• 5% Cashback Bonus in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
• Up to 1% unlimited Cashback Bonus on all other purchases
• No Annual Fee

Apply Now!

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Retirement: News, Appraisals, Information, Research, Advice – Everything Life Settlements

Panama is currently a popular destination for retirees looking to stretch their dollars and avoid cold winters. Some of the benefits of retiring in Panama include: No income tax on capital derived from offshore sources. Unlike Costa Rica, Panama has realistic requirements for retirees. Panama also has the best infrastructure in all of Central America. Top quality, well maintained roads, electrical grid, telephone, Internet and the all important safe, clean, drinking water through-out the country. Excellent medical and pharmaceutical facilities. The health care pricing structure takes the worry out of going to the doctor,needing a prescription or a stay in the hospital. If you wish, you can purchase health care insurance starting at $60 per month.

Even though Panama offers a low-cost of living most of the developments for retirees are aimed at the high-end of the market. A great choice for more reasonably priced housing is Villa Davina. They have condos starting at $79,900 and casitas at just $32,995. Villa Davina is in a peaceful, rural setting but just a short 40 minute drive and you are in the 3rd largest city in Panama. David (pronounced Da-veed or Da-beed) has all of the “hectic pace” one could want,restaurants, bars, theaters, parks, tons of shopping and let’s not forget the taxi horns. For pictures and more details visit their website at EasyRetirementLiving.com.

Disclosure: This is not a paid post but I will receive a small commission if any readers decide to purchase a unit after finding out about Villa Davina here.

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Retirement: News, Appraisals, Information, Research, Advice – Everything Life Settlements

Lending Club offers a self-directed no-fee IRA. This will allow you to invest your IRA money in any investment that is approved by the U.S. government to be held in an IRA. They would probably prefer you to invest in Lending Club notes, which have average 9.6% returns, but you have the option of investing in whatever you prefer.

To qualify for a no-fee IRA you must have an initial minimum balance of $5,000 or more in Lending Club Notes and maintain this invested balance for the first 12 months. To continue to qualify for the no-fee IRA after the first year, you must maintain an invested balance of $10,000 or more in Lending Club Notes. All account balances are determined as of the last business day immediately prior to the anniversary date of the opening of your account. An annual fee of $100 applies to accounts that don’t meet these requirements.

If you would like to open an account or just want more information just click on affiliate banner below.

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Retirement: News, Appraisals, Information, Research, Advice – Everything Life Settlements