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Local 2409 Microsite
News
RETIREES' COMMITTEE REPORT3/13/2008
Brother Mike Logsdon passed along the following thoughts. Anyone buying an
annuity is just a victim of someone trying to make a commission. The only
way annuities are beneficial is if you significantly outlive the insurance
actuary tables. Lotto odds are probably better. the old fashioned US "I"
bond would be a better investment in most cases, especially if you need part
or all of your money quickly. Also, "I" bonds with POD names escape probate
and delayed settlement estates. Sadly for salespeople, no one makes a
commission.
He also shared an interesting article from Forbes.com about giving your
Social Security checks back to the government. It explains how the
recipient can "undo" his decision to take Social Security retirement
benefits early simply by paying back- without any interest or inflation
adjustment - the benefits he's received. He can then reapply for Social
Security and claim the bigger monthly checks paid to those who wait until an
older age to claim benefits. The article is quite an "eye-opener"!
www.finance.yahoo.com/focus-retirement/article/104474/Trade-in-Your-Social-Security-Check
Home sharing may allow seniors to stay in their homes. Some seniors offer a
spare room rent-free to a younger person in exchange for cooking and light
housekeeping. Others charge rent and expect no services, but feel more
comfortable knowing that a younger person is nearby in case of an emergency.
Younger people benefit because these arrangements tend to cost less than
living in a rented apartment.
Don't remodel to increase your home's value if you plan to sell soon. You
would be lucky to recover even a portion of your investment if you sell
before the depressed housing market recovers, and that may take another two
years. Also, affordability is moving up in importance to homebuyers, given
tight credit conditions. "Sprucing up" your home is still worthwhile,
however (i.e.: painting walls, trimming bushes and straightening up your
garage.)
Respectfully submitted.
Brad Cecil, Chairman
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Last modified: 2/18/2010
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