It doesn’t seem right that anyone should have to pay income tax on Social Security retirement benefits, at least until the benefits paid exceed the amount of money that the recipient paid into the system over the years. But, this ship has sailed and many of us will be taxed on Social Security income. The question for today is whether you might get hit with a double tax whammy – taxed at both the federal and state levels.
Archives for January 2014
Prior to the last year or two, I had no knowledge of the health benefits of vitamin D or the negative consequences of not getting enough of it. More important, I never paid attention to my own vitamin D levels. That all changed yesterday when my new primary care physician emailed me about my lab results.
I have too much stuff in a house that’s too big. No big news there. Many people in my situation would hold garage sales and/or “moving” sales to get rid of a bunch of stuff all at once. I think garage sales are a poor investment of my time. I’m not ready to move so there is no point in opening up my house to a bunch of bargain hunters for a moving sale. Instead, when the mood hits, I take a few photographs, write a few words and “boom”, I’ve got stuff listed on Craigslist. So far it is working great, even for things I own that are not mainstream.
I found a new primary care physician this week after an extended period of procrastination. I scheduled a visit for my first wellness exam in four years. As far as I know now (pending completion of lab work), I am healthy. Nevertheless, at age 63, I thought it was important to find someone new to be a resource for my overall healthcare as I move deeper into my last third of life. There were several reasons why I made this change now.
We are almost 5 years from the worst of the last market crash. Can we relax and catch our breath now? Is it safe for a baby boomer to once again rely on the market for a secure retirement? Is it possible to design a financial system and market economy that won’t crash? The realists don’t seem to think so. I’m one of them.
On Friday we had to euthanize Jester, our ten year old black lab. All pet owners out there who have been through this know how hard it was. Now I am in recovery mode. This causes me to reflect back on the impact of being a dog owner can have on the life of a baby boomer. [Read more…]
I don’t like using detailed budgets because of the time involved in monitoring and entering expenses in multiple categories. Using a detailed budget also conflicts with my continuing goal to simplify my life. On the other hand, I like to know and confirm that my pre-retirement outgo is less than my income. That brings a peace of mind that is important to my “big picture” goal of increasing my net worth while I am still in the accumulation phase of retirement planning.
I just returned from seeing The Secret Life of Walter Mitty at the theater. I have been seeing a lot of movies over the last 6 months (1-2 per week). Most of the time I go alone, which I am becoming accustomed to. I have seen movies of all genres and enjoyed most of them. The Walter Mitty movie affected me in a strange way and I’m not sure why. Maybe you can help me?
I am not one to make New Year’s resolutions. I don’t see the logic in waiting to some artificial date to take important actions that should be implemented now. However, the beginning of a new year is as good a time as any to assess progress toward existing goals and to confirm a need for any future goals. So where am I with these goals?