United Way of Greater Los Angeles’ Post

Even now Dreaming of Retirement in the Sunlight Belt? https://lnkd.in/dzYST--E In 2015, when Diana and Charles Cox have been contemplating where by to retire, they drove their R.V. across the Southwest to visit several alternatives: Santa Fe, Sedona, Phoenix, Las Vegas.They’d lived in San Jose, Calif., for practically 20 years, but Ms. Cox was winding down her practice as a biotech patent attorney, and her revenue was dropping as taxes, housing and other residing costs ended up soaring.Her partner, 71, a contractor, experienced retired years earlier. “I was obtaining a lot more and far more difficulties shelling out the house loan,” mentioned Ms. Cox, who is 69.Phoenix gained out because of its decreased charges, worldwide airport and lots of overall health care companies, essential for two people today with chronic clinical circumstances. The few acquired a residence in a 55-additionally neighborhood in suburban Goodyear, Ariz., in 2016. Understanding the summer season warmth there would be rigorous, they prepared to shell out the season again in the Bay Spot in their R.V.But the pandemic designed travel come to feel unsafe for many years. Mr. Cox underwent remedy for prostate most cancers. Ms. Cox’s father moved in and needed care. So they have generally summered in Goodyear.The quantity of older Us residents like the Coxes who are uncovered to excessive warmth is rising, the end result of an growing older population, continuing migration to warmth-inclined spots and local climate improve. Researchers say the craze will only get worse.“The sites that are very hot now are exactly the areas getting older,” stated Deborah Carr, a sociologist at Boston College and direct creator of a latest research of populace growing old and heat publicity.Phoenix, extensive a retirement location, has averaged 108 times a calendar year of 100-furthermore diploma temperatures considering that 1970. But this yr has been brutal: By July 31, Phoenix experienced currently attained 68 times this calendar year with temperatures above 100 levels. Temperatures hit at minimum 110 levels Fahrenheit for 31 straight times, from the past day of June to the conclude of July, environment a report.And hazardous heat returned to the metropolis just this weekend.Summer in the Phoenix suburbs has been “miserable,” Ms. Cox said, on a midmorning when the temperature in Goodyear had presently arrived at 106. “You genuinely cannot go out and do issues. We have not been as sociable as I’d like.”This yr has been especially miserable for the reason that a delayed dwelling renovation project pressured the couple to shift into their R.V. for 3 months, beginning in June. The vehicle’s two air conditioning units are struggling. So is the refrigerator, causing salads to wilt and milk to spoil.“A pair of days back it received up to 92 in below,” Ms. Cox reported. “The cats were prostrate undern

A lot of people miss out on the opportunity to save more each year because they didn’t know that …   1) You can contribute to an #IRA each year you’ve earned income   2) You can contribute to your spouse’s IRA even if your spouse did not earn income   3) You can contribute to a traditional IRA even if you make too much money to get a deduction   4) You can potentially contribute to a Roth IRA even if you make too much money to contribute directly to this tax-advantaged account   If you are wondering how, you aren't alone; most people walk away from these opportunities each year. At Cloutier Wealth Management, it’s my goal to help uncover opportunities and develop tax strategies that help clients reduce taxable income or find tax-free growth opportunities, while building their retirement savings.   Everyone's needs, goals, and objectives are different, so I am curious, what are yours and what can I do to help you? Let's chat https://lnkd.in/egAtq_TM

Lessons from Aldersgate: A Cautionary Tale for CCRC Residents Four years ago, Paul and Sue Johnson were thrilled to join Aldersgate, a continuing-care retirement community (CCRC) in Charlotte, NC. With its proximity to downtown attractions and promise of lifelong care, it seemed ideal. However, financial irregularities soon surfaced, leading to state intervention and a $40 million deficit discovered. Key Takeaways for Potential CCRC Residents: 1. Scrutinize Financial Reports: Ensure transparency and regular updates from the community. 2. State Regulator Oversight: Verify disclosures with state insurance regulators for deeper insights. 3. Analyze Key Metrics: Focus on days cash on hand, operating income, and unrestricted cash for debt repayment. 4. Long-Term Planning: Evaluate the community’s long-term feasibility studies and actuarial reports. 5. Occupancy Rates: Investigate current and historical occupancy trends for stability indicators. Paul Johnson’s experience underscores the importance of thorough due diligence. Despite Aldersgate’s turmoil, its frontline staff remained committed to resident care. Potential residents should consider consulting eldercare lawyers and financial advisors to navigate the complexities of CCRC contracts. Bottom Line: Always delve deep into a CCRC’s financial health and mission to ensure it aligns with your retirement goals. #CCRC #RetirementPlanning #Eldercare #FinancialSecurity #DueDiligence

GROWING PAINS It feels like somehow the last 11 years of life has just been a series of “everything is happening all at once” followed by “cool not much going on”. My #militarytransition is no exception. Currently on terminal leave, packing my belongings, buying a trailer, working on my truck to ensure it’s ready for a cross-country drive, lining up the mountains of paper work to make sure I get paid for my move, get my final paycheck, get my first VA check, my retirement ID…….you get the idea..there’s a lot going on! Add to that selling my first house I ever bought…..from 3,009 miles away. Today I signed paperwork accepting an offer on my house. My first house. I was fortunate enough to have the same tenants since the day I left to now. They were great, we had a great agreement and it benefited us both. My home was cared for nearly as well as I would have cared for it. Expenses for fixes were just taken off the rent and often times done by my friend who lived there with his wife and daughter. I didn’t charge them as much as I could have compared to average rent in town, but that was part of what made it so great. My expenses were covered, while allowing me to put some money away, they saved a few hundred dollars compared to other homes, and we had a mutually beneficial arrangement that neither party took advantage of. Some would call it dangerous or naive to have never had a written conrract drawn up or a property management compant or to do annual inspetions….but I felt it said a lot about the character of the individuals involved. Neither needed the fear or legal ramifications in orser to do the right thing. Neither was trying to work over the other to either make a buck or save a buck. No one was taken advantage of. I hope that’s not the last time I can do business on a handshake, though I’m weary that’ll be the case. **Be a person of integrity. **Look out for your community. **Be proactive rather than reactive. Also, buy low sell high. That’s helpful as well. After 15 years of home ownership in Brookings, Oregon….I begin the process of selling. Another addition to the aspects of my transition from military to civilian life. It’s been a wild ride already, and I expect nothing less. 🏡

Check out my book I talk about which States are the best for retirement. Available on Amazon titled How to pay Zero or Minimal Income Tax? By Raymond J Passero CPA.

🌺 Thinking of Moving from the West Coast to the East Coast? THINK AGAIN.....In a recent article by Noah Sheidlower, he speaks to the idea of moving for purely economic reasons, which is what many people do. HOWEVER, there is so much more to consider. 🌴 Quality of life has more to do with having a community which has the activities, people and a variety of other considerations to review. Look at the comments by Stephen Lombardo.....important issues and attitude to consider. Contact me if you are considering Florida in your plans at all.

Discovering your true calling can take time, but for me, it was a matter of stumbling upon the right opportunity. Before I became an owner in my industry, I spent years helping people repair their credit and achieve their financial goals. I knew I wanted to do more, but I didn't know how to make it happen. Then, an opportunity presented itself, and I knew it was the missing piece I had been searching for. Now, I help families achieve their dreams by setting personalized goals and strategies for retirement, college planning, and protecting their hard-earned assets. It's a privilege to help communities rebuild, one family at a time. Best of all, being an owner gives me the freedom to spend time with my loved ones. #careerdevelopment #financialplanning #communitybuilding

New Post: Still Dreaming of Retirement in the Sun Belt? In 2015, when Diana and Charles Cox were considering where to retire, they drove their R.V. across the Southwest to visit several possibilities: Santa Fe, Sedona, Phoenix, Las Vegas.They’d lived in San Jose, Calif., for nearly 20 years, but Ms. Cox was winding down her practice as a biotech patent attorney, and her income was dropping as taxes, housing and other living costs were rising.Her husband, 71, a contractor, had retired years earlier. “I was having more and more trouble paying the mortgage,” said Ms. Cox, who is 69.Phoenix won out because of its lower costs, international airport and many health care providers, essential for two people with chronic medical conditions. The couple bought a house in a 55-plus community in suburban Goodyear, Ariz., in 2016. Knowing the summer heat there would be intense, they planned to spend the season back in the Bay Area in their R.V.But the pandemic made travel feel unsafe for years. Mr. Cox underwent treatment for prostate cancer. Ms. Cox’s father moved in and needed care. So they have mostly summered in Goodyear.The number of older Americans like the Coxes who are exposed to extreme heat is increasing, the result of an aging population, continuing migration to heat-prone places and climate change. Researchers say the trend will only get worse.“The places that are hot now are precisely the places getting older,” said Deborah Carr, a sociologist at Boston University and lead author of a recent study of population aging and heat exposure.Phoenix, long a retirement destination, has averaged 108 days a year of 100-plus degree temperatures since 1970. But this year has been brutal: By July 31, Phoenix had already reached 68 days this year with temperatures over 100 degrees. Temperatures hit at least 110 degrees Fahrenheit for 31 straight days, from the last day of June to the end of July, setting a record.And hazardous heat returned to the city just this weekend.Summer in the Phoenix suburbs has been “miserable,” Ms. Cox said, on a midmorning when the temperature in Goodyear had already reached 106. “You really can’t go out and do things. We haven’t been as sociable as I’d like.”This year has been particularly miserable because a delayed home renovation project forced the couple to move into their R.V. for three months, starting in June. The vehicle’s two air conditioning units are struggling. So is the refrigerator, causing salads to wilt and milk to spoil.“A couple of days ago it got up to 92 in here,” Ms. Cox said. “The cats were prostrate under the ceiling fan.” She called the inside heat “uncomfortable, but not deadly.”Heat can indeed be deadly, though, particularly for seniors. Last year Maricopa County, which includes Phoenix, recorded 425 heat-associated deaths, a 25 percent increase from 2021. Two-thirds occurred in people over 50.The over-65 population increased 52 percent in Arizona between 2009 and

New Post: Still Dreaming of Retirement in the Sun Belt? In 2015, when Diana and Charles Cox were considering where to retire, they drove their R.V. across the Southwest to visit several possibilities: Santa Fe, Sedona, Phoenix, Las Vegas.They’d lived in San Jose, Calif., for nearly 20 years, but Ms. Cox was winding down her practice as a biotech patent attorney, and her income was dropping as taxes, housing and other living costs were rising.Her husband, 71, a contractor, had retired years earlier. “I was having more and more trouble paying the mortgage,” said Ms. Cox, who is 69.Phoenix won out because of its lower costs, international airport and many health care providers, essential for two people with chronic medical conditions. The couple bought a house in a 55-plus community in suburban Goodyear, Ariz., in 2016. Knowing the summer heat there would be intense, they planned to spend the season back in the Bay Area in their R.V.But the pandemic made travel feel unsafe for years. Mr. Cox underwent treatment for prostate cancer. Ms. Cox’s father moved in and needed care. So they have mostly summered in Goodyear.The number of older Americans like the Coxes who are exposed to extreme heat is increasing, the result of an aging population, continuing migration to heat-prone places and climate change. Researchers say the trend will only get worse.“The places that are hot now are precisely the places getting older,” said Deborah Carr, a sociologist at Boston University and lead author of a recent study of population aging and heat exposure.Phoenix, long a retirement destination, has averaged 108 days a year of 100-plus degree temperatures since 1970. But this year has been brutal: By July 31, Phoenix had already reached 68 days this year with temperatures over 100 degrees. Temperatures hit at least 110 degrees Fahrenheit for 31 straight days, from the last day of June to the end of July, setting a record.And hazardous heat returned to the city just this weekend.Summer in the Phoenix suburbs has been “miserable,” Ms. Cox said, on a midmorning when the temperature in Goodyear had already reached 106. “You really can’t go out and do things. We haven’t been as sociable as I’d like.”This year has been particularly miserable because a delayed home renovation project forced the couple to move into their R.V. for three months, starting in June. The vehicle’s two air conditioning units are struggling. So is the refrigerator, causing salads to wilt and milk to spoil.“A couple of days ago it got up to 92 in here,” Ms. Cox said. “The cats were prostrate under the ceiling fan.” She called the inside heat “uncomfortable, but not deadly.”Heat can indeed be deadly, though, particularly for seniors. Last year Maricopa County, which includes Phoenix, recorded 425 heat-associated deaths, a 25 percent increase from 2021. Two-thirds occurred in people over 50.The over-65 population increased 52 percent in Arizona between 2009 and