Every caregiving journey is unique — shaped by your loved one’s needs and your role in their life. There are amazing resources to help guide you through it.
Being a military spouse and working with so many veterans in my real estate business, I’m particularly sensitive to resources for those caregivers of veterans and service members. I recently stumbled upon AARP’s free Military Caregiving Guide — a practical tool to help you stay organized, find resources, and create a personalized caregiving plan.
Caregiving generally includes:
Checking in regularly and offering companionship
Providing transportation or helping with errands
Preparing meals and handling household chores
Assisting with personal care
Performing medical or nursing tasks
Coordinating appointments and care plans
Whether you’re supporting someone on active duty, retired, wounded, ill, or disabled, you don’t have to do it alone. AARP has amazing resources available for you including their Free Military Caregiving Guide.
This easy-to-use guide helps you:
Stay organized throughout your caregiving journey
Identify available resources and support systems
Build and adapt a caregiving plan that fits your situation
You can go through the guide from start to finish or jump straight to the sections that matter most to you. And as your veteran’s needs evolve, revisit the guide to reassess and update your plan.
Retirement is a time to enjoy life, travel, and spend more time with loved ones. However, financial concerns can sometimes get in the way. One way seniors can generate extra income is by selling items they no longer need. Many possessions accumulated over the years can hold surprising value.
Here are some of the best items seniors can sell to help finance their retirement.
1. Antiques and Collectibles
Many seniors have valuable antiques, collectibles, and heirlooms that can fetch a high price in the market. Items to consider selling include:
Vintage furniture
Rare coins and stamps
Old toys and dolls
Fine china and glassware
Sports memorabilia
2. Jewelry and Watches
Gold, silver, and gemstone jewelry often appreciate in value over time. Selling unused or inherited pieces can provide a significant financial boost. Vintage or luxury-brand watches, such as Rolex or Omega, can also command high prices.
3. Unused Vehicles
If a senior no longer drives regularly or has an extra car, selling it can free up cash and reduce expenses like insurance and maintenance. Classic cars, motorcycles, and recreational vehicles (RVs) can also be sold for substantial amounts.
4. Designer Clothing and Accessories
High-end fashion items, handbags, and accessories from brands like Louis Vuitton, Gucci, or Chanel can sell well on online marketplaces and consignment shops.
5. Furniture and Home Décor
Downsizing to a smaller home or senior living community often means less space for furniture. Selling excess pieces, especially high-quality or vintage furniture, can provide extra funds while simplifying the living space.
6. Electronics and Gadgets
Many seniors own outdated but still valuable electronics, including:
Vintage cameras
Audio equipment (record players, speakers, etc.)
Tablets, smartphones, and laptops
Gaming consoles and video games Online marketplaces like eBay, Facebook Marketplace, or Gazelle can help turn these items into cash.
7. Power Tools and Equipment
If a senior no longer engages in home improvement projects, selling tools such as drills, saws, and lawn equipment can be a great way to declutter and make money.
8. Books and Vinyl Records
First-edition books, signed copies, and vintage vinyl records can have significant resale value. Selling to collectors, bookstores, or online platforms like eBay and Discogs can bring in extra income.
9. Artwork and Photography Equipment
Original artwork, sculptures, and professional photography gear can be valuable assets. Seniors who are no longer using these items might consider selling them to art dealers or collectors.
10. Recreational and Hobby Equipment
Golf clubs, fishing gear, sewing machines, and musical instruments can find new homes while generating cash. Selling on specialized platforms or at local consignment stores can yield good returns.
Pawn Shops: Quick cash option for jewelry and electronics
Selling unnecessary belongings can provide financial relief while making life simpler and more manageable. By carefully selecting valuable items and using the right platforms, seniors can supplement retirement income and enjoy greater financial security.
As we age, staying organized becomes more important than ever. An organized home can enhance safety, reduce frustration, and foster independence for seniors.
If you or a loved one is struggling to find everyday items, a little organization can make a world of difference. Here are some practical steps to create an accessible and user-friendly home for seniors.
Declutter and Simplify Over the years, it’s easy to accumulate a lot of belongings. However, too much clutter can make it difficult to find essential items and can even become a safety hazard. Start small by tackling one room at a time. Donate or discard items that are no longer needed. Keep sentimental items in a designated space to preserve memories while maintaining organization.
Label and Categorize Clear labeling and categorization helps seniors find things quickly. Use large-print labels or color-coded stickers on containers, drawers, and shelves. Store similar items together, such as all medications in one cabinet and all kitchen essentials in another. Utilize transparent bins so items are visible at a glance.
Create an Easy-to-Navigate Layout Rearranging furniture and storage areas can make a home more accessible. Place frequently used items within easy reach to prevent excessive bending or stretching. Keep walkways clear of obstacles to reduce the risk of falls. Ensure proper lighting in hallways, staircases, and key living areas.
Optimize Storage Solutions Storage solutions should prioritize accessibility and ease of use. Use pull-out shelves and lazy Susans in kitchens and pantries. Install grab bars and handrails in areas where extra support is needed. Choose open shelving instead of closed cabinets for frequently used items.
Develop a Routine for Organization A system is only useful if it’s maintained. Encourage habits that keep the home tidy and organized. Designate a specific place for everyday items like keys, glasses, and remotes. Set up a weekly decluttering schedule to prevent buildup. Encourage family members or caregivers to help keep things in order.
Utilize Technology for Assistance Modern technology can enhance organization and accessibility for seniors. Smart home devices like voice-activated assistants can help locate lost items. Medication reminders can be set on smartphones or pill organizers with alarms. Digital lists or apps can help track important documents and schedules.
Personalize the Space for Comfort Organization doesn’t mean sacrificing personality. It’s important to create a home environment that feels comfortable and familiar. Incorporate photos, mementos, and cozy elements to maintain warmth and personal connection. Arrange furniture in a way that is both functional and inviting. Ensure that favorite items remain accessible and are not stored away.
By taking the time to organize a senior’s home with these thoughtful adjustments, you can create a living space that promotes safety, ease, and peace of mind. A well-organized home allows seniors to maintain their independence and enjoy their daily routines with confidence.
Working with seniors and their families, I always hear people struggling with how much they should spend on relocation or anything else because the overwhelming concern is saving enough to take care of themselves in the late years.
I think that’s why the “Die with Zero” Rule is so interesting.
A recent Kiplinger article points out that over the next two decades, an estimated $90 trillion will pass from older generations to heirs. But hedge fund manager Bill Perkins argues that what’s really being left behind isn’t just money—it’s trillions in unlived experiences.
In his book Die with Zero, he suggests that people should maximize life experiences while they can still enjoy them. While many retirees hesitate to spend their savings risking eventually running out of money, Perkins believes this mindset causes people to miss out on life. His philosophy is simple: Spend money intentionally—on yourself, loved ones, or charity—while you’re alive to create meaningful experiences.
With the “Die with Zero” philosophy, the key is balancing health, time, and money at different life stages:
In youth: You have time and health but little money.
In middle age: You have money and health but less free time.
In later years: You have time and money but declining health.
By recognizing this balance, you can prioritize experiences at the right moments. Of course, “Die with Zero” isn’t a one-size-fits-all rule. Many Americans struggle just to save for retirement, making this strategy more feasible for those with substantial savings. There’s also the risk of outliving your money or facing unexpected expenses.
That’s why balance is key. Financial planning can help ensure you don’t overspend too soon or leave too much behind unused.
As the saying goes, “You don’t want to be the richest person in the graveyard.”
For many retirees, Social Security benefits are a critical part of their financial stability. However, many seniors I meet question whether certain financial decisions—like selling their home—will reduce or even eliminate their benefits.
1.Selling a home will not impact standard Social Security retirement or survivor benefits.
The Social Security Administration (SSA) has clear guidelines stating that selling a home will not typically impact your Social Security retirement or survivor benefits. These benefits are not based on assets or income levels, meaning that a one-time gain from selling your house will not disqualify you from receiving payments. Additionally, where you choose to live after selling your home has no effect on benefits.
2. If you are under full retirement age and working, the earnings test may temporarily reduce benefits.
An important note however, if you are below the normal retirement age and still working while collecting Social Security, your income could be subject to the retirement earnings test. If your income exceeds a certain threshold, a portion of your benefits could be temporarily withheld. The good news is that once you reach full retirement age, these withheld benefits will be recalculated and reimbursed over time.
3. Selling a home could lead to taxable income, which might subject some of your Social Security benefits to taxes.
While selling your home may not directly affect your Social Security payments, it may impact your tax situation. If your home sale results in significant capital gains, you may owe taxes on that gain. And if your taxable income—including Social Security benefits and home sale proceeds—is high enough, you may be required to pay taxes on up to 85% of your Social Security benefits.
To minimize your tax burden, explore capital gains exclusions, which allow single homeowners to exclude up to $250,000 and married couples up to $500,000 of profit from taxation, provided they meet ownership and residency requirements.
4. SSI recipients must be mindful of asset limits, as a home sale could disqualify them from receiving benefits.
If you receive Supplemental Security Income (SSI), selling your home could impact your eligibility. Unlike Social Security retirement benefits, SSI is a needs-based program with strict income and asset limits. If the proceeds from selling your home push your total assets above $2,000 (for individuals) or $3,000 (for couples), you could lose your SSI benefits. However, the SSA provides a three-month window to reinvest in another home without losing eligibility. Additionally, SSI recipients have a 12-month period to spend down excess funds in a way that meets SSA requirements before they can reapply for benefits.
Traditionally, homeownership has been seen as the ultimate goal for financial security and stability. However, an increasing number of senior citizens and retirees are opting to rent instead of own.
There are many reasons driving this trend from financial flexibility to reduced maintenance responsibilities. Here are some of the reasons many of our senior clients prefer rent over owning later in life.
Financial Flexibility and Predictability For many retirees, financial stability is key, and renting provides a level of predictability that homeownership does not. Mortgage payments, property taxes, homeowners insurance, and maintenance costs can be unpredictable, whereas rent is a fixed monthly expense. This financial consistency allows seniors to better budget their retirement income. Additionally, renting frees up capital that would otherwise be tied up in home equity. Many retirees choose to sell their homes and use the proceeds to bolster their savings, travel, or invest in other experiences.
Reduced Maintenance and Repairs Owning a home comes with ongoing maintenance responsibilities, from mowing the lawn to fixing plumbing issues. As homeowners age, these tasks can become physically challenging and expensive if outsourced. Renting eliminates these concerns, as landlords or property management companies handle maintenance and repairs, allowing retirees to enjoy a worry-free lifestyle.
Downsizing for Simplicity Many seniors find that their current homes are too large for their needs, especially after children have moved out. Renting provides an opportunity to downsize to a smaller, more manageable living space without the hassle of selling and buying properties. Smaller rental spaces often mean lower utility costs and less upkeep, making daily living more comfortable and cost-effective.
Access to Amenities and Senior-Friendly Communities Many rental communities cater specifically to older adults, offering amenities such as fitness centers, social clubs, transportation services, and security features. These benefits allow retirees to enjoy an active and engaging lifestyle without the burdens of home maintenance. Some senior living apartments also provide assisted living options, which means residents can transition to higher levels of care as their needs change—all within the same community.
Freedom to Relocate & Travel Retirement is a time of exploration for many, whether it’s moving closer to family, traveling, or experiencing different parts of the country. Renting provides the flexibility to relocate without the commitment of selling a home. This is particularly appealing for snowbirds—retirees who prefer to spend winters in warmer climates and summers elsewhere. Renting makes it easier to move between locations without the financial and logistical burden of homeownership.
Market Uncertainty and Rising Property Costs The real estate market can be volatile, and owning a home comes with the risk of depreciation. Some seniors prefer to rent to avoid the unpredictability of property values, especially if they plan on moving within a few years. Additionally, rising property taxes and insurance premiums can make homeownership less appealing compared to the stability of renting.
Avoiding Estate and Inheritance Complications Some retirees opt to rent to simplify their estate planning. Owning a home means making arrangements for its future sale or transfer to heirs, which can be complicated and sometimes costly. Renting eliminates this issue, ensuring a smoother transition for loved ones.
As more seniors prioritize flexibility, convenience, and financial predictability, renting is becoming an increasingly attractive option. Whether it’s to downsize, eliminate maintenance responsibilities, or enjoy the freedom to relocate, renting offers retirees a lifestyle that supports their evolving needs.
The unusually warm weather in the south recently has many starting to spring clean – declutter, organize, and refresh – their living space. A clean and orderly home not only promotes better health and safety but also brings peace of mind.
Spring cleaning offers so many health benefits:
Reduces clutter: Minimizes fall risks and makes it easier to navigate the home.
Improves air quality: Removing dust, mold, and allergens promotes respiratory health.
Enhances mental well-being: A clean and tidy space can boost mood and reduce stress.
Increases safety: Checking for expired items and potential hazards can prevent accidents.
Here are some senior spring-cleaning tips:
Pace Yourself: Break tasks into small sections and spread them over several days.
Enlist Help: Family members, friends, or professional cleaners can assist with heavy lifting and hard-to-reach areas.
Declutter First: Remove items no longer needed before deep cleaning.
Use Safe Cleaning Supplies: Opt for non-toxic, easy-to-use products to avoid harsh chemicals.
Prioritize Safety: Ensure walkways are clear, rugs are secured, and grab bars are in place.
Spring Cleaning Checklist
General Cleaning
✅ Dust and wipe down surfaces (tables, shelves, countertops) ✅ Vacuum and mop floors ✅ Clean light switches, doorknobs, and handles ✅ Check and replace batteries in smoke and carbon monoxide detectors ✅ Wash curtains and clean blinds ✅ Declutter and organize common areas
Kitchen
✅ Dispose of expired food and spices ✅ Wipe down cabinets and countertops ✅ Clean appliances (microwave, oven, refrigerator) ✅ Sanitize sink and garbage disposal ✅ Organize pantry and restock essentials
Bathroom
✅ Toss expired medications and toiletries ✅ Scrub and disinfect sink, toilet, and shower ✅ Wash bath mats and shower curtains ✅ Check for leaks or mold buildup ✅ Ensure non-slip mats and grab bars are in place
Bedroom
✅ Wash bedding, pillows, and mattress covers ✅ Rotate and flip mattress (if possible) ✅ Organize closet and donate unused clothing ✅ Clean and dust furniture ✅ Ensure nightlights are working for nighttime safety
Living Room
✅ Dust electronics and remote controls ✅ Vacuum upholstery and under furniture ✅ Organize books, magazines, and newspapers ✅ Check for tripping hazards (cords, rugs, clutter) ✅ Open windows for fresh air circulation
Outdoor Spaces (If Applicable)
✅ Sweep porch, patio, or balcony ✅ Clean outdoor furniture ✅ Trim overgrown plants or shrubs ✅ Check railings and steps for stability ✅ Ensure pathways are clear and well-lit
Spring cleaning is a great opportunity for seniors to create a safer, more comfortable living space. Taking small steps, enlisting help, and prioritizing safety ensures a successful and stress-free cleaning process. It will also make it easier if, at some point in the future, you consider relocating.
More and more people are creating living trusts – an estate planning strategy to ensure your assets, including your home, are protected and transferred smoothly to beneficiaries. However, once you’ve placed your home into a trust, there are crucial real estate-related steps you must take to ensure everything is legally sound.
Here are some key actions to take after transferring your home into a living trust:
Update Your Home Insurance Policy Your homeowner’s insurance policy needs to reflect the fact that your home is now owned by your trust. Contact your insurance provider to inform them of the change and update the policyholder’s name to include the trust. You may need to provide them with a copy of your trust document and the new deed. Ensuring your trust is properly listed can help prevent coverage issues in the event of a claim.
Adjust Your Homestead Exemption Many states offer a homestead exemption that provides property tax relief but transferring your home to a trust can sometimes affect your eligibility. Check with your local tax assessor’s office to confirm whether your exemption remains intact and if any paperwork is required to maintain your benefits. Some states, like here in Georgia, may require you to reapply for the exemption under the trust’s name.
Notify Your Mortgage Lender (If Applicable) If you have a mortgage on your home, your lender may have specific requirements regarding transferring the property into a trust. While federal law (the Garn-St. Germain Depository Institutions Act) generally allows you to transfer your primary residence into a revocable living trust without triggering a due-on-sale clause, it’s still a good idea to notify your lender and confirm their policies.
Update Your Property Title and Deed Transferring your home into a trust involves executing a new deed that reflects the trust as the property owner. If you haven’t already done this during the trust setup process, consult a real estate attorney or title company to ensure the deed is properly recorded with the county.
Review Your Title Insurance Policy Just like with your homeowner’s insurance, your title insurance policy should be updated to reflect the ownership change. Contact your title insurance company to verify that the policy still provides coverage after the transfer and make any necessary adjustments.
Ensure Utilities and Property Tax Bills Are Addressed Correctly After transferring ownership to the trust, review your property tax bills, utility accounts, and other home-related services to confirm they reflect the correct owner name (your trust). While these bills can still be paid from your personal account, ensuring accurate records can prevent administrative issues down the road.
Communicate With Beneficiaries Your trust should outline who will inherit your home, but it’s also wise to communicate your plans with your beneficiaries. Letting them know about the trust and how the property transfer process will work can help avoid confusion and conflicts later.
Regularly Review and Update Your Trust Life circumstances change, and so do real estate laws. Periodically review your living trust to ensure it still aligns with your wishes and legal requirements. If you buy a new home or move to a different state, consult an estate planning attorney to determine if you need to make adjustments.
Setting up a living trust for your home is a great way to simplify the inheritance process and protect your real estate assets. It’s essential to follow through with these post-trust setup steps to maintain legal clarity and financial benefits. Consult your estate planning attorney if you have questions about your living trust.
As retirement approaches, there’s a common questions people ask. Should they pay off their mortgage?
The answer depends on one’s financial situation and priorities.
A Kiplinger article looked at the subject recently and created three common scenarios to help retirees decide.
1. You Have the Money in Cash
If you’ve kept your savings in cash because you’re wary of market risks, the decision comes down to the interest rates:
Pay it off if your mortgage rate is higher than your savings account interest rate.
Keep the mortgage if your savings account earns more than your mortgage costs, allowing you to benefit from “positive arbitrage.”
However, paying off your mortgage reduces liquidity, meaning the cash you use is no longer easily accessible unless you sell your home or borrow against it. Additionally, mortgage interest often offers tax benefits, which you might lose.
2. You Have the Money in a Brokerage Account
In this case, it’s usually better not to pay off your mortgage. Historically, stock market returns have far exceeded typical mortgage interest rates. Over time, this can create positive arbitrage, where your investments earn more than your loan costs. That said, market volatility is a risk. If your portfolio takes a downturn, your returns may not cover your mortgage interest. Balancing potential gains against risk tolerance is key.
3. You Have the Money in a Retirement Account
Paying off your mortgage with retirement savings is generally a bad idea. Withdrawing large sums from pre-tax retirement accounts triggers significant tax penalties and can push you into a higher income tax bracket. The financial hit is rarely worth the emotional comfort of being mortgage-free.
The Bottom Line
There’s no one-size-fits-all answer to whether you should pay off your mortgage in retirement. It boils down to your financial situation, goals, and personal values. While some prioritize peace of mind and freedom from debt, others focus on maximizing investment opportunities.
The article’s author says the good news is that few people ever regret not having a mortgage in retirement.
Taking the time to weigh the pros and cons carefully will help you make the best decision for your unique circumstances.
As we kick off 2025, the housing market is witnessing a significant shift among Baby Boomers. Unlike past generations who downsized or relocated to new areas during retirement, many Boomers are choosing to stay put in their current homes. However, for those who are moving, downsizing remains the primary motivation.
Why They Are Staying Put
For years, the housing industry anticipated a wave of home sales as Baby Boomers transitioned into retirement. Yet, this expected surge has largely not materialized. Several factors contribute to Boomers staying in their homes longer than previous generations:
Emotional Attachment: Homes are filled with decades of memories and hold sentimental value, making it difficult for many to leave.
Favorable Mortgage Rates: Many Boomers secured low mortgage rates years ago, making it financially advantageous to stay rather than purchase a new home at today’s higher rates.
Aging in Place: Advances in home modifications and in-home care allow Boomers to age comfortably and safely within their existing residences.
Downsizing as the Primary Reason for Moving
While a large portion of Boomers are staying put, those who are moving cite downsizing as their main reason. Downsizing offers several benefits, including reduced maintenance, lower utility costs, and the ability to tap into home equity. However, the process isn’t without challenges:
Lack of Suitable Options: Many Baby Boomers struggle to find smaller homes in their desired locations that meet their lifestyle and budget needs.
Competition with Younger Buyers: Smaller homes are highly sought after by younger generations, leading to bidding wars that can complicate the downsizing process.
Emotional Hurdles: Letting go of a long-time home filled with memories is never easy.
Implications for the Housing Market
The decision of many Boomers to stay in their homes contributes to the ongoing inventory shortage in the housing market. Younger buyers, particularly Millennials, face increased competition and rising prices due to fewer homes being listed for sale. On the other hand, the emphasis on downsizing among Boomers could spur demand for smaller, low-maintenance properties, driving developers to prioritize this segment in the coming years.
Looking Ahead
As we move into 2025, the Baby Boomer generation continues to redefine retirement living. Whether staying put or downsizing, their choices have far-reaching implications for the housing market. For those navigating these transitions, understanding the motivations and challenges unique to this group is key to making informed decisions.
Life is full of transitions, and for many, there comes a moment when downsizing and relocating feels like the right next step. But how do you know when it’s time?
Here are some key signs for you and your family to consider:
1. Your Home Feels Too Big -If unused rooms and empty spaces have become a constant reminder that your home is larger than you need, it may be time to consider a cozier, more manageable space.
2. Maintenance Is Overwhelming – Keeping up with repairs, yard work, and cleaning can be physically and financially draining. A smaller home or a low-maintenance living arrangement can bring relief.
3. Financial Considerations – If your current home feels like more of a financial burden than a comfort, downsizing can free up funds for other priorities, like travel, hobbies, or retirement.
4. Lifestyle Changes – Whether it’s retirement, kids moving out, or a desire to live closer to family or amenities, lifestyle changes often prompt the need for a more suitable living space.
5. Health or Mobility Needs – If stairs, large yards, or other features of your home are becoming challenging to navigate, moving to a single-story home or accessible property can improve quality of life.
Making the Move
Downsizing doesn’t have to feel like a loss—it’s an opportunity to simplify and embrace a new chapter. Start by evaluating your needs, exploring your options, and enlisting the help of a trusted real estate agent to guide the process.
Ready for a fresh start? Let us help you find the perfect place to call home.Contact us today.
Georgia is becoming a magnet for retirees and seniors attracting them with affordable housing, tax advantages and a relatively low cost of living compared to other locations. Travel and Leisure came out with a list of the “8 Best Places to Retire in Georgia” that’s worth sharing.
Decatur Close to Atlanta, Decatur offers a vibrant, walkable lifestyle with ample dining, entertainment, and parks. Retirees enjoy tax reductions, and Emory University provides ongoing education and cultural events.
Dalton Known as the “Carpet Capital of the World,” Dalton boasts affordable housing, rich outdoor activities, and a lively downtown. Ideal for retirees on a budget or those seeking part-time work.
Sandy Springs With Chattahoochee River views and abundant healthcare facilities, Sandy Springs is perfect for active retirees. Enjoy amenities like the Benson Senior Center and nearby performing arts venues.
St. Simons Island This barrier island offers beach access, golf, kayaking, and scenic beauty. The small-town feel and ocean views make it a sought-after coastal retirement spot.
Cartersville A charming town with affordable homes, Cartersville offers history, art, and accessible healthcare, along with transit services for seniors and proximity to natural areas.
Woodstock Known for its scenic trails and active lifestyle, Woodstock attracts retirees from out of state. The walkable downtown and range of housing make it popular for those seeking community.
Athens Home to the University of Georgia, Athens has educational and cultural opportunities, plus a blend of college-town energy and a small-town feel that appeals to retirees.
Augusta This historic city offers scenic river views, outdoor activities, and affordable housing. Augusta’s health facilities and the annual Masters Golf Tournament make it a lively yet budget-friendly option.
From bustling cities to serene retreats, Georgia has a retirement spot for everyone!
It’s the million-dollar question everyone is talking about – how will the recent election affect real estate?
Realtor.com has posted an article with its take on the election and how the real estate industry may change as a result. Some anticipate that Trump’s re-election could have a dramatic impact on housing policies.
The article explains that amid an ongoing housing crisis, his administration’s proposed measures include deportations, reduced housing regulations, and increased access to federal land for new developments. While Trump’s promises to lower housing costs appeal to many, experts say his policies are unlikely to address the root issues in the housing market.
>For example, deportations are intended to reduce housing demand, yet they could also disrupt the construction labor force, a vital component in home building.
>On regulation cuts, the president elect believes scaling back could cut home prices by 30%, though data shows regulatory costs only make up a fraction of housing prices.
>Although opening federal land could slightly ease shortages, much of this land isn’t near urban areas where demand is highest.
At the end of the day, only time will tell but the good news is that many are optimistic that homes may be more affordable, young people might be able to get into the housing market, and that seniors will be able to sell their homes with a profit they can use to enjoy the retirement years.
Seniors and retirees have long sought retirement destinations in the south largely because of the milder weather but there are so many other great benefits for seniors. Grace Zhu from TheStreet.com recently looked at some of the local and state tax benefits that are luring seniors to the Peach State.
Flat Tax Rate: Georgia moved to a flat tax rate of 5.39% as of April 2024. Potential annual reductions could bring it down to 4.99% by 2028.
Social Security and Medicare Benefits: Exempt from Georgia state income tax, allowing retirees to retain more of their benefits.
Pension Income Deductions:
Retirees aged 62-64 can deduct up to $35,000.
Retirees aged 65 and older can deduct up to $65,000 from pension income.
Increased Exemptions:
Personal exemption raised to $12,000 for singles and $18,500 for married couples.
Dependent allowance increased to $4,000 per child.
Investment Income: No special tax treatment; interest, dividends, and capital gains are taxed at 5.39%.
Capital Gains Exclusion on Primary Residence:
Up to $250,000 for singles.
Up to $500,000 for married filers.
529 College Savings Plan:
Contributions are tax-deductible up to $4,000 for singles and $8,000 for joint filers.
Contributions can be made until the tax filing deadline in April.
Retirement Account Distributions: 401(k), 403(b), and IRA distributions are taxed at the state level but enjoy deductions similar to pensions.
Military Retirement Exemption:
Military retirees aged 62+ can adjust their state tax returns.
Those under 62 can exclude $17,500 of military retirement income, plus another $17,500 if they have over $17,500 in earned income.
Property Tax Relief:
Property assessed at 40% of fair market value, with possible local homestead exemptions.
Exemptions available for seniors, including a school tax exemption at age 62 and additional $4,000 exemptions at age 65.
No State Estate or Gift Tax: Georgia has no estate, inheritance, or gift tax, aiding in estate planning.
For a smooth transition into retirement in Georgia, consider these tax benefits and exemptions that could help maximize your income and savings.
While the holidays are known for the joy and family closeness they bring, I know from meeting with my clients that for many seniors, it is an extremely difficult time of year. Many face loneliness and sadness from being far from family, the loss of loved ones and friends, and health struggles.
However, there are ways to combat these feelings and find joy in the holidays. Here are some strategies that can help:
Stay Connected – Making an effort to stay connected with family and friends can greatly reduce feelings of loneliness. If visiting in person isn’t possible, technology can bridge the gap. Video calls, phone conversations, or even emails and texts can help seniors feel more involved in holiday activities. Tip: Schedule regular video chats or phone calls with loved ones. Even short conversations can brighten the day.
Join Local Activities – Many communities offer special holiday events and gatherings for seniors. Churches, community centers, and senior living facilities often host social activities like holiday parties, game nights, or carol singing. Tip: Check local event listings or call senior centers to find holiday-themed activities.
Volunteer or Give Back – Helping others is a great way to lift your spirits and find purpose. Volunteering at a local charity, donating to those in need, or making holiday cards for neighbors or friends can create a sense of connection and fulfillment. Tip: If mobility is an issue, look for volunteer opportunities that can be done from home, such as making blankets for shelters or sending letters to service members.
Create New Traditions – If long-standing holiday traditions are no longer possible, consider creating new ones. These new traditions don’t have to be elaborate; they could include decorating the home, watching a favorite holiday movie, or trying a new holiday recipe. Tip: Start small by incorporating one or two new traditions each year.
Stay Active – Physical activity has a direct impact on mental health. Even a short daily walk, some gentle stretching, or light exercise can boost mood and alleviate symptoms of depression. Tip: Try to incorporate some form of movement each day, whether it’s a walk outside, chair exercises, or following an online workout tailored for seniors.
Focus on Self-Care – Taking care of mental and physical health is especially important during the holiday season. This includes getting enough rest, eating healthy meals, and managing stress. Practicing mindfulness, reading, or engaging in hobbies can help seniors stay grounded. Tip: Take time each day for self-care activities, even if it’s just relaxing with a warm cup of tea or reading a favorite book.
Reach Out for Support – It’s essential to seek support if feelings of loneliness or depression become overwhelming. This could mean talking to a trusted friend, family member, or healthcare professional. Therapy or support groups, either in-person or online, can also provide valuable resources. Tip: Many organizations, including mental health hotlines, offer free or low-cost services for seniors in need of support.
The holidays can be a challenging time for seniors, but with proactive steps, you can stay connected, active, and joyful. Whether by reaching out to loved ones, participating in community events, or creating new traditions, seniors can make the most of the holiday season while keeping loneliness and depression at bay.
Remember, the holidays are about connection—whether with others or within yourself. 💙
If you’re thinking about selling your home in Georgia, you might wonder if November is a good time. While spring and summer are typically peak seasons for real estate, November can still be a great month to sell. Here’s why.
Serious Buyers – In November, the buyers out there tend to be serious. These are people who need to move before the holidays or the end of the year. They’re motivated, which can lead to quicker sales.
Less Competition – Many sellers wait until spring to list their homes, so there’s less competition in November. With fewer homes on the market, your property has a better chance to stand out.
Fall Curb Appeal – Georgia’s beautiful fall foliage can give your home a cozy, inviting look. With some seasonal décor, you can boost your home’s curb appeal and attract potential buyers.
Year-End Tax Benefits – Some buyers may be looking for year-end tax benefits, like deductions from mortgage interest or property taxes, which can motivate them to close on a house before the new year.
Mild Weather – Georgia’s weather in November is mild and pleasant, making it easier for buyers to view homes compared to harsher winter months.
Bottom Line: While spring is still the busiest time for real estate, selling in November in Georgia has its perks. With motivated buyers, less competition, and fall curb appeal, it could be the perfect time to list your home!
While I love conversations centered around real estate, these days my clients are squarely focused on the election and the looming Medicare re-enrollment deadline. Both with a significant impact on senior’s lives.
I won’t touch politics but happily can provide some information about Medicare — information I read on SeniorPlanet.org. They interviewed a Medicare expert who answered some of the most common questions.
Re-enrollment Dates: Medicare re-enrollment is from Oct. 15 to Dec. 7. It’s time to decide if you’re sticking with your current plan or switching providers.
Medicare Choices:
Original Medicare: Includes Part A (hospital), Part B (outpatient), and optional Part D (prescription drugs). Many people also opt for a Medigap plan to cover gaps.
Medicare Advantage: A private plan covering Part A, Part B, and often Part D, with added perks like dental but limited to a network of providers.
Common Mistakes:
Many seniors are overwhelmed by the transition from employer health coverage to Medicare, struggling to navigate new options.
Choosing between Original Medicare and Medicare Advantage can be confusing, and many are tripped up by the learning curve.
Helpful Tools:
Brokers: Insurance brokers can guide you but may not show all available plans.
Online Plan Finder: Medicare’s online tools allow you to compare every plan in your area.
Enrollment Windows:
If you’re turning 65, you have a 7-month window to enroll, starting three months before your birthday. Don’t delay; waiting could leave you without coverage!
Late Enrollment Penalties:
Part B: 10% extra per year of delay, lasting as long as you have coverage.
Part D: 1% extra per month of delay, also lasting as long as you have coverage.
Make informed choices to avoid unnecessary penalties and ensure you get the best care for your needs!
Working with seniors today is more fun than ever before. My clients, whether in their 80s, 90s or even 100, lead lives of passion and purpose. They take care of themselves, volunteer or are involved in clubs and church, and when it comes to their living arrangement, they simply want to be where life is easier, less complicated, and loved ones are nearby or accessible.
A recent blog I read from senior relocation specialist firm Caring Transitions had some interesting stats about seniors. For example, the US Census Bureau finds that people over 85 are now more likely to move homes than younger seniors.
85+ years: 8.4% moved
75-84 years: 6% moved
65-74 years: 5.9% moved
Note, research found that nearly 60% of older adults who moved to a new state relocated to a completely different region.
Why are seniors relocating? Top reasons include desire to be in a warmer climate, closer to family, they want homes tailored to their healthcare needs and places providing economic advantages.
The downside? 83% of people report that moving is stressful – not a shocking statistic but certainly one that gives people pause when considering a relocation. Luckily there are businesses, like Caring Transitions, that specialize in reducing the stress associated with relocation. Contact us for a list of other senior-related resources if you need them.
It’s starting to show up in articles and in the newsbut what exactly is the Silver Tsunami?
“Silver Tsunami” is a term used to describe the demographic shift that is occurring as the baby boomers—those born between 1946 and 1964—age. This aging of this large generation is creating both opportunities and challenges for society.
It will have a profound impact on things such as:
Health care & long-term care costs
Social Security strains
Workforce shifts
Transfer of wealth
The Silver Tsunami will also have an impact on real estate. Baby Boomers are aging out of their homes and downsizing. As a result, many of their homes will hit the real estate market.
For homebuyers, the anticipated influx of homes could significantly affect housing supply. Since baby boomers are often looking to downsize and not buy another home after selling, the market may see more available properties, helping to balance supply and demand. This could ease competition for younger buyers, stabilizing home prices and creating more affordable opportunities for those looking to buy.
While the full effects of the Silver Tsunami may take several years to unfold, it’s expected to gradually increase housing inventory, which could help address the current shortage.
Want to know more, contact us here at Atlanta Seniors Real Estate. We’re happy to answer any questions you may have.
Now that we’re immersed in election season, many people ask me how the race and ultimate outcome could impact the housing market. Many of my baby boomer clients are reluctant to take action until they have a better feel for how their personal finances will be affected by this year’s presidential election.
Ultimately, I tell them that if they need to relocate or downsize, they should proceed. While finding space in a local senior living community may be fairly easy, finding a home could be challenging if inventory is low as people adopt a “wait and see” approach to selling.
Regardless of whether you’re looking to buy or sell a home, it’s important to understand how political changes can affect everything from mortgage rates to housing inventory.
1. Potential Changes to Mortgage Rates
The election can influence mortgage rates, as candidates’ policies on the economy, inflation, and the Federal Reserve play a role in shaping interest rates. If policies favor economic growth and stability, mortgage rates may remain low or stable, which benefits both buyers and sellers. Conversely, if uncertainty or inflation concerns arise, mortgage rates could increase, making it more expensive for buyers to finance homes.
2. Housing Market Regulations and Policies
New regulations or policies introduced by elected officials can impact the housing market. For example, changes in tax laws, incentives for first-time homebuyers, or new affordable housing initiatives could alter the demand for homes. These changes could benefit buyers by providing more options or financial incentives, while sellers might see shifts in market activity depending on how the policies influence buyer behavior.
3. Economic Confidence and Market Activity
The housing market thrives on economic confidence. A stable political environment can boost consumer confidence, encouraging more people to buy or sell homes. In contrast, uncertainty or economic concerns following an election could lead to a slowdown in the housing market as buyers and sellers wait to see how the economy will be impacted.
4. Local vs. National Elections
Local elections can also play a crucial role in the housing market. Local policies on property taxes, zoning, and infrastructure development directly impact home values and desirability. Buyers and sellers should keep an eye on local elections to understand how they might affect their specific market.
Want to know more?
While the impact of an election on the housing market can vary, being informed and prepared is key. Whether you’re buying or selling, staying updated on election outcomes and policy changes will help you make the best decisions for your real estate goals. If you’d like to discuss options, feel free to contact Atlanta Seniors Real Estate.
There are more than 72 million baby boomers in the United States. Many of these boomers find themselves in a challenging financial position — they are “house poor.”
House poor means they spend so much on their home that they struggle to afford other essentials, such as daily expenses, healthcare, and leisure activities. The general rule of thumb is that housing costs shouldn’t exceed 30% of one’s income. However, for those who are house poor, these costs are often much higher.
So, why are baby boomers specifically becoming house poor? A recent article on GoBankingRates.com explains some of the key reasons.
1. Resisting Downsizing
Many baby boomers have seen their homes appreciate significantly over the years and have developed a strong emotional attachment to them. In my experience, that along with the daunting task of cleaning out to downsize prevents many from making a move when it might be the best option.
2. Refinancing Instead of Paying Off the Mortgage
Another trend affecting baby boomers is their choice to refinance rather than pay off their mortgages. While refinancing can offer short-term financial relief or extra cash, it often leads to more debt over time and fewer resources to help one enjoy late life.
3. Reluctance to Rent Out Part of Their Home
Renting out a portion of a home can be an excellent way to offset costs. However, many baby boomers are reluctant to consider this option. For those struggling with home-related expenses, it can help make the home more affordable.
4. Dipping Into Savings to Keep the House
Many baby boomers dip into their savings to cover home-related expenses, which can be risky. I advise clients to consult with their financial advisor to determine whether the home is “affordable.” Seniors can also explore a reverse mortgage.
Finding a Solution: Assessing Your Options
To avoid becoming house poor, assess your financial situation and consider all available options. Ultimately, it’s about making sure the home works for retirement—not the other way around.
Consulting with a financial advisor can provide valuable guidance tailored to individual circumstances, ensuring a stable and enjoyable retirement. And, if you’re considering a move, contact us to help you get started.
Many of the seniors I work with are at a point in life where they’re exploring whether to age in place, move in with family, or transition to a senior living environment where additional services are available.
The main concern with senior living facilities is the cost — it is sticker shock for many seniors and their families who see prices starting at $4K a month with many communities charging significantly more.
Families then begin to explore what assistance is available to help them afford it.
I recently read an article from the Council on Aging about whether Medicaid can help seniors with the expense of independent living. The short answer is no, though Medicaid may cover other services that are needed as part of the independent living arrangement. Specifically, seniors should understand when and how to apply for Home and Community-Based Services (HCBS) Medicaid waivers, or 1915(c) waivers. They can help seniors with disabilities remain independent by covering things like home health aides, personal care, housekeeping assistance, adult day programs, respite care, and case management.
You’ll want to check with your state to better understand how the waiver program work where you live.
As Social Security celebrates its 89th birthday, there’s growing concern about its future. According to the latest report, the reserves that fund benefits for 70 million Americans could be depleted by 2035. If that happens, benefits might be cut by 17% and that has many retirees worried about their financial security.
Should You Take Social Security Early?
According to a Rodney Brooks article on SeniorPlanet.org, many people are choosing to start their Social Security benefits as early as 62, fearing the money won’t be there later. Remember that taking benefits early permanently reduces them by about 30%. For those who wait until full retirement age (66 or 67, depending on when you were born), or even until 70, benefits can increase significantly.
Unfortunately, the fear of losing out is driving some to claim early, even when it’s not in their best interest. If you’re in good health and you can afford to wait, delaying benefits could lead to a higher monthly check for the rest of your life.
What’s Congress Doing About It?
So far, Congress has not taken decisive action to address Social Security’s looming shortfall. Some proposed solutions include:
Raising the income cap on Social Security taxes, which currently applies to income up to $168,600.
Increasing the retirement age beyond the current 66 to 67 years.
Means testing benefits, reducing them for individuals with higher incomes or assets.
So far, there hasn’t been action on these proposals which means the future of Social Security is uncertain.
As it stands, most Americans still take Social Security before reaching full retirement age. However, with the potential for future benefit cuts, it’s essential to plan carefully. If you’re under 50, it might be wise to consider other sources of retirement income, as the future of Social Security remains unclear.
Finance professionals will tell you that some the most volatile stock market days are those from September to Election Day (November 5th) so investors are buckling up for the ride. For American seniors, who may have a fixed or reduced income than in prior years, it can be particularly tough to watch investments and retirement accounts bounce around.
So, what’s the best way for seniors to ride out a bear market?
AARP offers some practical advice.
If you’re 50 and eyeing retirement in 15 years, stick to your 401(k) or IRA contributions. Bear markets average three-and-a-half years to recover, so keep investing regularly — you’re buying stocks at lower prices now to sell them high later.
For retirees, avoid withdrawing from stock funds during a bear market unless absolutely necessary. Withdrawing when your stock fund is down only compounds your losses.
Adopt a “bucket plan” approach. Put investments in three buckets – ultra safe (bank CDs & money market funds), moderate risk (bond funds) and high risk (stock funds). This strategy helps you weather the storm without locking in losses, keeping you prepared for the market’s upswing.
Use cash investments for withdrawals. You can replenish the cash or bond accounts when the stock funds recover.
If you’re concerned or have questions, consult a professional financial advisor who can help guide you the turbulent times.
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