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  • 😊 RetireHub Daily—When Delaying Retirement Can Pay Off 😊

😊 RetireHub Daily—When Delaying Retirement Can Pay Off 😊

Internet deals (and more) for seniors

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RetireHub
May 13, 2024

It is Monday, May 13th, 2024

Dear RetireHub Daily Readers, welcome back to Money Monday. 

RetireHub

Churchill served two terms as Prime Minister.

On this day in 1940, newly appointed Prime Minister Winston Churchill addressed the British House of Commons for the first time, introducing a coalition government. In the speech, Churchill famously said, “I would say to the House, as I said to those who have joined this Government: ‘I have nothing to offer but blood, toil, tears and sweat.’”

Deal of the Day

Flash Deals at Walmart

Over 1000 products! Up to 65% off! This Walmart Flash Sale has a wide range of products with some shocking price drops—but only for the next 4 days!

RETIREHUB POLL

Do you think social security benefits are clear to understand?

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How Retirement Age Impacts Your Social Security Benefits

Did you know that 66% of retired Americans depend on Social Security as their only source of income in retirement? BUT social security will only be around 40% of your pre-retirement income?

How about this: Delaying retirement increases your social security benefit by 8% per year up until the age of 70.

Retirement is a personal thing that depends on your health, circumstances, savings, and preferences. But it’s important to know the basics of Social Security before making a decision to retire.

Here are the key points to understand:

  • Your Social Security benefits can begin from age 62, but you’ll receive less if you retire before your full retirement age.

  • Full Retirement Age (FRA) is 66 if you were born between 1955 and 1959, or 67 for those born after 1960.

  • If you delay your retirement until after your FRA, you will receive higher payments (up to the age of 70). This can increase your payout by as much as 24% to 32%.

But remember, not everyone can—or has to—work until their 70. It depends on many factors. But now you know the basics, reach a full guide by clicking below, or speak to a financial advisor.

Yesterday’s Poll Results - Has your social life changed as you've gotten older?

Most RetireHub Daily readers feel that their social life has changed in good ways as they’ve gotten older (39%). On the other hand, for 32%, their social life has changed in ways they don’t like. Let’s make sure to stay in touch with our peers as we age, you never know who could use a friendly visit.

Thanks to everyone who voted and commented!

Our Favorite Comments:

We love hearing and sharing comments from our polls! While we can’t publish them all, we do read and appreciate every comment.

  • “I am retired and have more time. I moved into an over-55 with many opportunities to meet people.”

  • “It’s nice to be retired. I have more time to help out the Eagles, the Elks & the American Legion volunteering to fundraisers that help Veterans, Special Children & anyone else in need. It truly feels better to give than to receive.”

  • “More daytime, less evening events. I appreciate the people more. Doesn't matter what we are doing. Just being together, catching up, is enough.”

WHAT WE’RE READING

by Molly Black

FBI special agent Katie Winter takes on a deeply personal case when a dead woman is found in a frozen lake on the US-Canada border — the site of her own sister’s long-unsolved disappearance. A haunting thriller with over 2,300 five-star ratings on Amazon.

Want free books delivered to your inbox every day? Check out Free Booksy!

Receive free eBooks (just like this one!) in your favorite genres delivered to your inbox daily. Check out Free Booksy today!

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SENIOR LIVING NEWS

Are you honouring your values in how you live your life? Is your money aligned with your values?

When we live in accordance with our values, we feel like we’re presenting our real, authentic selves. Using our money in a way that aligns with our values will make us feel more in control and much more fulfilled and content.

Creating a will or trust ensures that your estate is bequeathed in the way you wish, and can also state your desires regarding medical decisions and procedures should you become incapable of taking care of yourself. But, what's the difference?

Key Takeaways

•Wills and trusts both help ensure your assets are distributed upon your death.

•A trust is a great way to skip probate, but you’ll need to set it up before death and make sure your beneficiaries are solid.

•A will and a trust each have individual benefits, and some will need to have both in place to fully protect their survivors.

LONGEVITY TIP OF THE DAY

Be generous—While generosity might impact your retirement savings, it could help you live longer. Research has shown that giving to others helps lower blood pressure. relieve stress, and reduce feelings of depression. And generosity doesn’t just have to be financial—simply doing something for someone else can have the same impact.

Slang of the Day

Word: “Make it rain”

Definition: If one is in the process of “making it rain”, they are making so much money they can afford to be frivolous.

Used in a Sentence: “Wow, she’s really making it rain with those investments.”

GOOD NEWS OF THE DAY

In a first-ever human clinical trial, an mRNA cancer vaccine developed at the University of Florida successfully reprogrammed patients’ immune systems to fiercely attack glioblastoma, the most aggressive and lethal brain tumor.

The results in four adult patients mirrored those in 10 pet dog patients suffering from brain tumors whose owners approved of their participation.

It may just be Southern California's longest drive-thru line. But instead of fast food, each car is met with a troop of volunteers, efficiently placing bundles of fresh produce and two weeks' worth of groceries in the trunk — all for free.

"We have cars line up as early as three or four in the morning — we don't start the drive till 9:30 a.m. So to us as the volunteer team, it tells us that the need is there and we want to do whatever we can."

RETIREHUB TRIVIA

Which reality TV show, starting in 2000, strands contestants in remote locations to outlast each other for a cash prize?

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Mount Mitchell is the highest peak in the Eastern United States. In which state is it located?

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Who played Winston Churchill in the 2017 biopic, "Darkest Hour", a performance for which they earned an Academy Award for Best Actor?

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Our goal is to grow RetireHub to over 1 million members — with this, we’ll have the leverage to get even better discounts from the likes of Netflix, Amazon, and others.

To help incentivize referrals, we’re giving away 12 months of your favorite streaming service for free! Simply forward this email to a friend (and cc [email protected]) and you’ll be entered into the drawing on May 15th! (Maximum $20/month streaming service).

Each additional friend you send the email to will count as an additional entry (25 person max).