Comments for Center for Retirement Research https://crr.bc.edu Tue, 26 Mar 2024 18:06:14 +0000 hourly 1 https://wordpress.org/?v=6.0.7 Comment on The Psychology Behind Starting Social Security at 62 by Ian Rogers https://crr.bc.edu/the-psychology-behind-starting-social-security-at-62/#comment-11284 Tue, 26 Mar 2024 18:06:14 +0000 https://crr.bc.edu/?p=46193#comment-11284 Yeah, I don’t think it has anything to do with psychological loss aversion. Referring your example: “The retiree who signed up for the $1,339 check at 62 would accumulate a total of $353,500 in benefits if he lived to 85. But if he waited until 70, the $2,395 benefits paid every month would add up to $402,360”

I think it’s simply math/logic – 50k more for 8 more years work and to benefit you have to get to 85!

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Comment on Nursing Homes Forced to Hire More Costly Outside Staff by Allen Francis https://crr.bc.edu/nursing-homes-forced-to-hire-more-costly-outside-staff/#comment-11283 Mon, 25 Mar 2024 22:07:43 +0000 https://crr.bc.edu/?p=47059#comment-11283 It is what it is, nursing homes need all the help they can get.

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Comment on Homeownership in Retirement: an Asset or a Burden? by Robert A https://crr.bc.edu/homeownership-in-retirement-an-asset-or-a-burden/#comment-11282 Sat, 23 Mar 2024 12:49:04 +0000 https://crr.bc.edu/?p=46918#comment-11282 The other expenses that appear out of scope for this article but can be problematic, even when a house mortgage is paid off, are insurance and real estate taxes. Admittedly, these are hopefully not as much as whatever the monthly mortgage rate was but there is still some ongoing expenses. The other “category” of expenses tied more directly to the house is maintenance. Those usually involve periodic and irregular expenses (roof, water heater, plumbing, yard fence, deck replacement, for examples). These chunks of money ranging from hundreds to thousands of dollars can be an unfortunate financial surprise.

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Comment on Homeownership in Retirement: an Asset or a Burden? by George Wilson https://crr.bc.edu/homeownership-in-retirement-an-asset-or-a-burden/#comment-11281 Mon, 18 Mar 2024 14:34:34 +0000 https://crr.bc.edu/?p=46918#comment-11281 Retirees typically have paid off their home mortgage. How to lever up that “dead” equity is something that needs to be expanded upon. Reverse mortgages are one solution, but others are needed.

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Comment on Homeownership in Retirement: an Asset or a Burden? by Gene https://crr.bc.edu/homeownership-in-retirement-an-asset-or-a-burden/#comment-11280 Mon, 18 Mar 2024 13:31:23 +0000 https://crr.bc.edu/?p=46918#comment-11280 You will own nothing and be happy

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Comment on Homeownership in Retirement: an Asset or a Burden? by Carl https://crr.bc.edu/homeownership-in-retirement-an-asset-or-a-burden/#comment-11276 Thu, 14 Mar 2024 17:44:32 +0000 https://crr.bc.edu/?p=46918#comment-11276 The taxes, keeping the house systems current, and maintaining the premises up to date are costly expenses in California; we regularly see homes run down to the point a scrape and or huge markdown is needed. The home industry is a marketing tool used by the real estate industry and for lobbying government agencies.

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Comment on Medicare Advantage Reigns. So Who Still Buys Medigap? by Paul Baxter https://crr.bc.edu/medicare-advantage-reigns-so-who-still-buys-medigap/#comment-11275 Thu, 14 Mar 2024 17:43:47 +0000 https://crr.bc.edu/?p=46518#comment-11275 In reply to Mike Dalton.

You got that right Sir. For the certainty and flexibility, Medigap will always be by far the superior healthcare alternative for seniors. And I don’t see that changing anytime soon.

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Comment on Homeownership in Retirement: an Asset or a Burden? by David Erwin Jr https://crr.bc.edu/homeownership-in-retirement-an-asset-or-a-burden/#comment-11274 Thu, 14 Mar 2024 17:14:40 +0000 https://crr.bc.edu/?p=46918#comment-11274 Most people don’t understand how to include housing wealth in their retirement income plan and they have a lot of misconceptions about reverse mortgages.

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Comment on Medicare Advantage Reigns. So Who Still Buys Medigap? by John Swaney https://crr.bc.edu/medicare-advantage-reigns-so-who-still-buys-medigap/#comment-11273 Thu, 14 Mar 2024 05:36:00 +0000 https://crr.bc.edu/?p=46518#comment-11273 I have a Medigap policy because I strongly advocate for my care. Medicare Advantage plans access to care varies widely depending on the County in which you live and the care providers available. Original Medicare A and B with a Medigap policy do not have territorial limitations or network access to care limits.

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Comment on Medicare Advantage Reigns. So Who Still Buys Medigap? by Josh Scandlen https://crr.bc.edu/medicare-advantage-reigns-so-who-still-buys-medigap/#comment-11269 Sun, 03 Mar 2024 00:58:46 +0000 https://crr.bc.edu/?p=46518#comment-11269 In reply to Don in GA.

How are you coming up with over $15k a year for just premiums? Part B is less than $200 a month per person. Part D is less than $50. Med Supp plan say $150 and if you live here in GA is cheaper, than what they pay in the North. Just talked to a guy today who is paying $83 a month for a Plan N.. Out of pocket, co-pays, dental etc. Say another $2k a year. So, roughly $500 to $550 a month per beneficiary is what I come up with. Where are you getting the $15k?

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Comment on Surging U.S. Centenarian Population Requires Action by Bruce Knight https://crr.bc.edu/surging-u-s-centenarian-population-requires-action/#comment-11268 Sat, 02 Mar 2024 00:38:54 +0000 https://crr.bc.edu/?p=46790#comment-11268 As written above, Social Security and Medicare will be in fiscal trouble in the coming years. Meanwhile, many seniors or workers contemplating retirement have little-to-no savings, believing that they can live on Social Security alone. That’s not to mention that liabilities that many will have from unsustainable debt payments on high interest credit cards. And all of this is the “third rail” of politics, no-one in Congress dares even whisper about it as it’s a doomed political future for anyone (and possibly their party) that does.
Meanwhile, Congress can hardly pass muster on a month’s Federal spending authority, let alone address major issues like this.

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Comment on Surging U.S. Centenarian Population Requires Action by Jim Aulenti https://crr.bc.edu/surging-u-s-centenarian-population-requires-action/#comment-11266 Fri, 01 Mar 2024 21:44:38 +0000 https://crr.bc.edu/?p=46790#comment-11266 The current paradigm is outdated, broken, corrupted, completely dysfunctional and completely unable to meet what is known to happen let alone all the unknown ( war, national bankruptcy … Are we not already bankrupt?).

The only solution is to completely decentralize and make every citizen an owner of dividend paying securities. A second income. Same as rich people.

In one generation all these problems will subside and deprivation, as has been for almost all human history, will disappear. Capital homestead.

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