Free Republic

A 2010 Time Magazine article about the plateau effect—Americans not seeing significant rises in happiness levels as income rises above $75,000—inspired my first intensive study on the relationship between money and happiness. Though roughly 15 years have passed, and more nuanced conclusions have been analyzed, the eye-opening revelation remains an essential reminder for retirees. Namely, happiness isn’t only about the money itself. What people do with that money can often be the difference between a happy and unhappy retirement.

Retired California public employees are flocking to Idaho with their pension funds and becoming the financial "lifeblood" of at least one Idaho town, ruffling feathers with some locals who are taking issue with the "liberal baggage" of the new residents. The Los Angeles Times reported this month the town of Eagle, Idaho, has seen an influx of retired cops and firefighters moving to their town with many of them identifying as conservative but who "seem practically socialist to the old guard" with their large pensions. Two California transplants squared off in the most recent mayoral race, and the key issue...

SEOUL, South Korea — Dressed in borrowed camouflage fatigues, they fumbled with their ammunition belts and K2 assault rifles. Some had white hair and a slow, shuffling gait; their average age was 63, the oldest 75. It was the most unconventional batch of trainees that the 52nd Infantry Division's Seocho Reserve Forces Training Center had ever seen, and Lt. Col. Hwang Hyeon-seok received them with a strained smile, desperately hoping that none of them would get hurt.

Ah, the infamous “Inflation Reduction Act!” Remember, it was an act sold as inflation reduction, although it was all about green energy spending. And now making Medicare insurance premiums go up by 42-57% in 2024! In the Inflation Reduction Act, lowering the maximum out-of-pocket spending cap for Medicare Part D prescription drugs from $7,050 in 2023 to $2,000 in 2025 will reduce co-pays for some, especially those with chronic conditions. However, financial liability will shift to insurers expected to cover 60-80 percent of costs once patients hit the new $2,000 cap. So, while the Inflation Reduction Act aims to lower...

One in six retirees is now thinking about unretiring due to Bidenflation, which one analyst says “may be here to stay.” Well, if Biden wins re-election, it will certainly be here to stay. Patrice Onawunka laments in the far-left USA Today that the “financial insecurity” caused by inflation, which itself was caused by “reckless federal spending” may become permanent.

Most people have a dream home in mind for retirement. It might be a quaint beach house, a log cabin deep in the woods, or a penthouse high in the sky. But no matter where you plan to live during your golden years, make sure you check out the local tax situation in your dream destination before packing your bags and relocating. If you don't, and you end up in one of the least tax-friendly states for retirees, you might end up with a hefty state and local tax bill. State and local taxes can vary greatly from one place...

Inflation has been taking its toll on retirees, especially those who rely solely on Social Security. But have no fear, Senator Bernie Sanders (I-Vt.) and seven Democratic cosponsors recently introduced S. 4365, the Social Security Expansion Act, a bill to enhance Social Security benefits and ensure the long-term solvency of the Social Security program. If this bill passes, retirees 62 and over would start to receive an additional $200 a month in benefits beginning in January 2023. Most retirees rely heavily on Social Security benefits, and for some it’s their only source of income. Currently, Americans will stop receiving their...

There's a Social Security benefits cliff looming, with retirees seeing their checks garnished as soon as 2035. According to the latest federal Social Security report, the program has just enough funding to send out monthly checks to elderly and disabled Americans for 13 years. Beyond that, a 20% reduction in benefits is needed for the program to be sustainable. "In the coming decades it will be vital for Congress to take steps to put Social Security and Medicare on solid financial footing for the long term," Treasury Secretary Janet Yellen said in a statement on the Social Security report.

Do a read through of the disappointing earnings report out of FedEx on Tuesday night and you get the sense non-farm payrolls reports for the rest of 2021 may surprise economists to the downside. The problem (one that may be getting worse, per FedEx)? Finding humans to accept jobs in a very tight labor market even at higher rates than what the job paid months ago. "The impact of constrained labor markets remains the biggest issue facing our business as with many other companies around the world and was the key driver of our lower than expected results in the...

Military retirees and families are getting new IDs for the first time in three decades. The Defense Department is replacing its 30-year-old identification cards for military families, retirees, and civilian workers in an effort to upgrade the cards and avoid security risks. The Defense Department began issuing the new IDs in July and some are already in circulation. But Michael Sorrento, director of the Defense Manpower Data Center, said cardholders don’t have to scramble for the new IDs. In the midst of the coronavirus pandemic, he said he doesn’t want ID facilities jam-packed with people, so the old cards do...

The Federal Reserve, saying “the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” cut interest rates to zero on Sunday and launched a massive $700 billion quantitative easing program to shelter the economy from the effects of the virus. Facing highly disrupted financial markets, the Fed also slashed the rate of emergency lending at the discount window for banks by 125 bps to 0.25%, and lengthened the term of loans to 90 days. The Fed also cut reserve requirement ratios for thousands of banks to zero. In addition, in a global coordinated...

NBC News spoke to nine American families who say Marcela Zavala Taylor, a former banker with Grupo Financiero Monex, had gained their trust only to disappear after they discovered money had gone missing from their personal accounts. These families, whose estimated losses total more than $7 million dollars, all say they were blindsided by what had happened.

British retirees thinking of moving to the sun-soaked south of Italy could soon be able to take advantage of a massive tax break that is being mooted by the country’s new government. The populist administration hopes to reverse the chronic population decline of Italy’s southern regions by luring people to settle there with the promise of paying no taxes for 10 years. The scheme will be open not only to Italians but to foreigners too, it is envisaged. The idea has been proposed by The League, the hard-Right party which makes up one half of the coalition which came to...

Soon after Ilana Benet retired from her job as a labor and delivery nurse, it hit her: She missed the babies. And her employer missed her. Ms. Benet, a registered nurse, had worked at Montefiore Health System in the Bronx for 40 years before retiring two years ago at age 60. As a grandmother of 10, Ms. Benet wanted to spend more time with her family. But she quickly realized — within weeks — that she wasn’t ready for full retirement. Montefiore was ready to welcome her back. The hospital system developed an informal program to rehire some retired nurses...

SAN DIEGO -- Like their fellow Americans in the coastal town of Bahia de los Angeles on the Gulf of California, Jo Anne Butler and Ray Ball kept returning, year after year, drawn by the small-town feel, the area's stark natural beauty, the warm waters that lapped almost at their door, friends said. But the shooting deaths of the two U.S. retirees together with their dog early Saturday at their waterfront house south of town has shattered the tranquillity of this quiet community some 380 miles from the U.S. border. Sustained largely by tourism and fishing, Bahia has a year-round...

Newbie retirees may need to lower their expectations when it comes to their Social Security checks. According to a new survey released by the National Retirement Institute, more than a quarter (27%) of new retirees say their monthly checks are less than they expected. What’s more, nearly two in three of soon-to-be retirees (63%) admit that they are not confident in their overall knowledge of how Social Security works. That number is alarming because nearly one in four (26%) future retirees believe they can live comfortably on Social Security alone. “It’s problematic that so many people are planning to rely...

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RALEIGH Retired state workers will have an extra $5.7 million at their disposal this month because of the new federal tax plan, State Treasurer Dale Folwell announced Wednesday. The changes to federal taxes, passed in December by Republicans in Congress and supported by Republican President Donald Trump, will raise taxes on some people and lower taxes for others. The biggest benefits will go to large businesses and individuals at the very top of the income ladder, but they’re not the only ones who will have more money at their disposal. Retirement benefits are taxed, and the new federal tax plan...

What did you do when you retired?Getting close to the point that I may be able to retire.Thinking about reselling,yard sales,goodwills,estates sales.Always enjoyed junking,antiquing.Gotta stay busy.