Surprising Age 55 Benefits

Surprising Age 55 Benefits

The benefits accompanying that 55th birthday are many, and some of these benefits may surprise you. Advantages of becoming a “senior” can include perks in just about every area of life: finances, health, transportation and travel, everyday purchases, fun, and even education. Here are a few of those perks that you may not know about:

· Reduced insurance premiums: Although many insurance companies view “getting on in years” as an insurance risk, at the age of 55 you qualify to take the AARP Driver Safety course, which can earn you a discount on your annual premiums. This discount is even mandated by law in some states. Contact the AARP or AAA (if you are a member) regarding this program.

· Free legal advice (from a real lawyer!): As a member of AARP (you can join at age 50), you can take advantage of their legal program – if you have a legal question, there are attorneys from the AARP Legal Services Network in your area who will provide a half-hour of their time for a free consultation with members. There are also free legal helplines for seniors in the majority of states (check out www.legalhotline.org).

· Lower property taxes: Okay, this benefit does not apply to 55-year-olds; you are still far too young to enjoy it! The Senior Citizens’ Exemption actually applies to some lower-income individuals age 65 and over. If you are 65+ and your annual income is $29,000 or less, you may be able to shave up to 50% off of the property taxes you pay on your primary residence – whether levied by county, school district, or city.

· Free continuing education: Thanks to the Senior Citizens’ Higher Education Act, after age 55 you may be able to take credit-earning college courses without paying any tuition. This benefit is also income-based: your taxable income in the previous year cannot have exceeded $15,000 to get the free courses. Even those seniors with more income get some benefit, though: they can audit a credit-earning course – or take a non-credit course – free of tuition.

· Active Adult Community:  At age 55 you legally qualify to live in a 55 plus community or active adult community.

· Senior Center: Many senior centers or as some of them are called “active adult centers” have age 55 requirements. Before you laugh, you should check out today’s senior centers in your neighborhood.

This list is just the tip of the iceberg. There are also Silver Sneakers gym programs, prescription medication discounts, senior travel deals, and benefits at grocery stores, national parks, movie theatres, hotels, restaurants, and many other locations. These offers for 55+ customers may not be publicized, so you should check with the local Chamber of Commerce, or simply flash your ID at your favorite businesses and ask, and you may be amazed at how much you can save.

AARP Discounts
Senior Discounts
Grocery Store Discounts
Age 55 Perks and Discounts

Baby Boomer’s Housing Trends

We have observed these 10 Baby Boomer housing trends. Boomers are not doing as some expected in regards to their housing. Links in the items listed go to more details.

1. Many Baby Boomers love seasonal homes in resort locations. Living in a seasonal home for two to six months then returning to their primary home. Some seasonal homes are owned but many are short term rentals. Most seasonal homes are in warmer locations. Most are in resort locations including active adult communities.

2. One level living is a must because of potential mobility issues and safety concerns. This style is referred to as “ranch style” homes.

3. Baby Boomers prefer a enclosed sun room, where they can enjoy the outdoors without the elements.  Fully enclosed is preferable to a 3 season room.

4. One of the the main reason Baby Boomers move is to be closer to their children, grandchildren or siblings.

5. Baby Boomers who can afford it, love living in a Over 50 Community that offers the active lifestyle where they can play pickleball, bocce, tennis, softball, putt putt golf, and so on as well as other activities, entertainment and social life and people to do it with.

6. Baby Boomers are not downsizing to as small a home as expected by some. They still enjoy their space for entertaining and having guests over. Also want a large master bedroom and bath room.

7. A nice patio or deck is also enjoyed but not too big of a yard.  Boomers no longer do their own landscaping maintenance. Boomers want landscaping included or pay a vendor to do that.

8. Many Baby Boomer who do move to a new home end up buy new furniture and having the new place professionally decorated.

9. Baby Boomers that age in place are making improvements to their homes to make them age friendly as much as possible especially with ease of access.

10. Also Baby Boomers that age in place are getting involved with their local senior center that has evolved to have more activities like an Active Adult Community does. Many Senior Centers are now called Active Adult Centers.

Top 55+ Places for Retirement

 

 

Aging Boomers: Avoid These Downside Risks

These events that could threaten you when you are age 50+ reach across life domains ranging from financial, health, and relationships. No one can identify all the potential negative events that are to be avoided, but certainly some are more common and identifiable and can be avoided.

When we were young, it was all upside gain that appealed to you but as you age at a certain point you realize that you may have more to lose than gain.

The aging process can cause you to become more fragile to events that could cause you or someone else harm or even death.  Your choices help determine your exposure to risks.  Identifying these potential harmful events and avoiding them is smart.  You have more to lose than to gain by participating in some events.

These events that could threaten you when you are age 50+ reach across life domains ranging from financial, health, and relationships. No one can identify all the potential negative events that are to be avoided, but certainly some are more common and identifiable. Here are some items to consider. Continue reading “Aging Boomers: Avoid These Downside Risks”

Aging “With Purpose”

With Purpose begins with the author’s eight page Introduction letting the reader know about his long history and lifetime study of aging, beginning in his early twenties at a time when not much attention was paid to the older folks. With the demographic Age Wave finally here, the author’s insights are indeed interesting and exciting I found. Some of the interesting items in the book deal with:

I have been reading With Purpose (Going from Success to Significance in Work and Play) a book by Ken Dychtwald, PH.D.   This author specializes in the study of aging, maturity and retirement.   A few months ago I read his book The Power Years and thought is was one of the better shall we say, Baby Boomer books that I have read.   I kept that book for future reference and here is my digest of the book. Continue reading “Aging “With Purpose””