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Healthy Choices
Surprising Muffin Tin Recipes for Every Meal of the Day
By Karla Walsh
Updated February 18, 2021
Tuscan Mac and Cheese Cups
Ingredients
Ingredient Checklist
Preheat oven to 375°F. Coat twelve 2 1/2-inch muffin cups with cooking spray. Lightly press prosciutto slices onto the bottoms and up the sides of the prepared muffin cups, allowing edges to extend over rims of cups. Bake for 5 minutes.
Chicken-Feta Phyllo Cups with Tzatziki Sauce
Ingredients
Ingredient Checklist
Instructions Checklist
Mini Turkey Meat Loaves with Fiery Tunisian Sauce
Ingredients
Ingredient Checklist
Instructions Checklist
Breakfast Ham and Egg Cups
Ingredients
Ingredient Checklist
Instructions Checklist
(Recipes courtesy of BH&G)
In One Year, Pandemic Forced Millions of Workers to Retire Early
From flight attendants to grocery store managers, older adults made the tough decision to end careers
by Jon Marcus, AARP, March 10, 2021
Desmond, 62, has been a flight attendant for 36 years, most recently on the American Airlines route between Phoenix and London. But after repeated leaves forced by the COVID-19 pandemic, she has put in to retire much earlier than she had planned.
"I could have done that till I was 70,” Desmond says. “Then COVID hit."
Her friends who have already retired early from the airline went through the same anguish. “They cried. They literally cried,” says Desmond. “It hasn't honestly sunk in yet. It's very sad."
There are also financial considerations. Although she'll get a payout from the airline, “I won't be getting my salary, so I have to dip into my savings.” She hasn't yet decided when to claim Social Security, since monthly benefits are lower for people who claim them before they reach the program's full retirement age.
In the meantime, “I won't be getting a paycheck, which is scary for me."
A year after the COVID-19 pandemic was declared a national emergency, many of the disproportionate number of older Americans pushed out of the workforce by the combined health crisis and economic downturn are retiring earlier than planned, risking long-term financial insecurity because of lower-than-anticipated savings and payouts from pensions, Social Security and other sources.
"Older workers, millions of them, are going to be downwardly mobile from the comforts of middle-class life,” says Teresa Ghilarducci, a labor economist at The New School and director of its Schwartz Center for Economic Policy Analysis, who specializes in retirement security.
"People plan their retirement years and they look at their spreadsheets. They assume raises. They assume they will pay off their debts. Then this recession hits and they're forced out of the labor force, and all of those assumptions disappear at once."
Two million older adults have stopped looking for work
The number of people affected by this problem is beginning to come into focus.
In a reversal of previous recessions, when they were protected by their longevity, older Americans are more likely than mid-career workers to be out of work this time, according to the Center for Retirement Research at Boston College.
More than a quarter of all workers say COVID has prompted them to move up their retirement date, found a survey released in February by the National Institute for Retirement Security.
Nearly 2 million older workers have left the labor force for good since the start of the pandemic, the Schwartz Center says. That means the number of older workers still employed is down by about 5 percent, compared to less than 2 percent for workers ages 35 to 54.
The rate at which older workers continue to participate in the workforce, either by staying in their jobs or by seeking new ones, fell in January to its lowest point since the start of the pandemic, the Schwartz Center says. The Center estimates that 3 million more older workers would be working now if the pandemic did not happen.
The proportion of all Americans who will be financially insecure when they retire — meaning they will be unable to maintain their pre-retirement standard of living — has also increased, from 50 percent to 55 percent, according to the Center for Retirement Research.
"These workers were already at risk for downward mobility, but [the pandemic] accelerated this trend,” Ghilarducci says. And that will bring “a lot of silent and solitary misery as people cut down their spending.”
Job losses have hurt some groups more than others
Lower-income older workers are the most affected.
"People in higher-paid tracks have kept their jobs. At the same time, the folks at the bottom are involuntarily losing their jobs,” says Dan Doonan, executive director of the National Institute on Retirement Security.
Those older workers who have jobs that can be done from home are typically the ones with greater education and higher incomes, the Center for Retirement Research estimates.
Unemployment for people in lower-paying jobs and for Black, Hispanic and Asian older workers has been more than twice that of higher-income older workers during the pandemic.
"The other side of this is the inequality of it,” says Siavash Radpour, associate director of The New School's Retirement Equity Lab. “Many who have lost their jobs are in the bottom half of income. They didn't have much retirement savings anyway. If they had the prospect of wage growth, they have lost it by losing their jobs."
Watch: What to Say When Your Friend Loses Their Job
This leaves many people to depend exclusively on Social Security. Yet the earlier a recipient claims Social Security, the lower his or her lifetime benefits will be.
"If you go out early and take Social Security early, that reduction is for the rest of your life,” says Doonan. “You'll be living with low income for the rest of your life."
The average monthly Social Security benefit for retired workers is $1,503. But 67 percent of retirees on Social Security get less than that because they claimed their benefits before they reached full retirement age — 67 for people born in 1960 or later — the Social Security Administration says.
"Even in good times, most retirements are involuntary,” Ghilarducci says, because of issues including layoffs, business closures and health problems. “When you ask people if they retired at the age they thought they would, most people say they retired earlier."
Tough financial decisions in a difficult year
Before she retired last year from her job as a dental hygienist, Katy Pompe and her husband consulted a financial adviser and decided to delay putting in for Social Security until their monthly benefits have time to increase.
"My husband is a great saver, and he's converted me into being a great saver,” Pompe says as she walks her border collie, Lotus, in her neighborhood near Phoenix.
Now 62, she moved up her timetable for retiring from her job of 17 years soon after the start of the pandemic, in part because of worries about the health risks.
"The straw that really broke the camel's back was the PPE we had to wear,” she says of the heavy personal protection equipment required in the dentist's office where she worked, which made it hard to communicate with patients.
Still, she says, early retirement was a big step. “I was really concerned about not working, because I've done it for so many years, and I loved it."
Other Americans are already burning through their financial resources or reducing the amount they're saving for retirement. Twenty-two percent say the pandemic has forced them to spend their emergency savings, 10 percent have reduced their retirement plan contributions, and 12 percent have withdrawn money from their retirement accounts, according to a survey by the National Institute for Retirement Security.
The CARES Act temporarily allowed people with pandemic-related hardships to withdraw up to $100,000 from tax-deferred retirement accounts without penalty.
A quarter of workers say their employers have also cut their retirement matches. Among the companies that suspended their 401(k) matches are Amtrak, BestBuy, Choice Hotels, Dell Technologies, Expedia, Knoll, Norwegian Cruise Line, Quest Diagnostics, RE/MAX, Stein Mart and VMWare.
More and more older workers are carrying mortgage debt into their retirement, thanks in part to the last recession. Forty-six percent of older Americans have mortgage debt, nearly twice the proportion of three decades ago.
Skip Kelley wanted to pay off some debt before he retired, which he intended to do in another year or two. “I wasn't quite there yet,” says Kelley, who is 61.
Then the local television station he managed, in hard-hit Las Vegas, offered early retirement buyouts.
"I had a three-week period to make a decision about whether I was going to end my career or not,” says Kelley.
In the end, he took the buyout, which was enough to pay off those remaining debts. As for the lower monthly amount he would get for claiming Social Security early, “It actually was a big concern. Yes, my benefit is less than it would have been. But in the long run, it's the right decision, and I've adjusted already to what's coming in."
Unlike younger people living in poverty, most retirees have little or no prospect of upward mobility. Social Security and pensions are adjusted only to keep up with the rate of inflation. “That means you are locked in for the rest of your life” to the same basic income, Radpour says.
Concerns about caregiving also led to retirements
Anxieties about all these things have been heightened by the pandemic. More than half of Americans say their concerns about retirement have increased over the past year, that National Institute for Retirement Security survey found.
"Even in good times, most retirements are involuntary. When you ask people if they retired at the age they thought they would, most people say they retired earlier."
— Teresa Ghilarducci
The trend is likely to create a downward spiral by putting more strain on younger relatives, who may have to retire earlier themselves to care for their parents.
Even before the pandemic, 40 million people, or 16 percent of the population, were caring for an older person without pay, according to the Bureau of Labor Statistics. Of those, nearly 60 percent are women, delaying or interrupting their own careers, and a quarter are over age 55.
"Younger generations are going to be impacted by their parents going into retirement if they don't have the resources. So are safety net programs,” says Doonan.
Pete Ramirez moved up his own retirement over concerns about being exposed to COVID-19 in his job as assistant director of a Tucson supermarket. He was especially worried he might pass it on to his parents, for whom he is a caregiver. Both are 90.
"At first you didn't see a lot of people getting sick” at work, Ramirez says. “But then they started getting sick, and I was thinking, ‘I'm taking this home.’ “
Ramirez retired on Jan. 1, just before turning 62, instead of at 65, as he had planned.
"My parents are more important than my job,” he says. And when an employee in her 20s died of COVID-19 the day after he left, “I thought to myself, ‘Now I know I made the right decision.’ “
Still, it was a decision that cost Ramirez $500 a month, which is how much less he says he'll get from Social Security than if he'd waited. But his house and cars are paid off and he has two IRAs, one from his 19 years at the supermarket and another from an earlier job.
The situation for many older workers isn't anywhere near that good.
Only about half of American households have 401(k) or retirement accounts, according to the Center for Retirement Research; the rest have to rely entirely on Social Security.
Half of Americans ages 56 to 61 had less than $21,000 in retirement savings in 2016, the most recent year for which the figure is available, the Economic Policy Institute reports.
"All these trends are very troubling for the near retirees,” says Doonan. “It's a bit late to start saving."
Desmond, Pompe, Kelley and Ramirez say they have few regrets about their new lives.
"At first, I was really concerned about not working, because I've done it for so many years, and I loved it. But I've actually embraced retirement. I really like it,” says Pompe, who bought an e-bike that she tries to ride every day.
Desmond has become active in pickleball, a paddleball sport with elements of tennis, badminton and table tennis. Kelley has a pile of stones in his driveway he plans to use to build a new retaining wall, and a shop behind the house where he restores classic cars.
Ramirez, whose hobby is woodworking, is building a porch and shelves, and planning with his wife for future travel. “My wife keeps saying I'll get bored. I don't foresee it,” he says.
Even for those who have managed to save enough money for retirement, the huge exodus of people who haven't risks slowing broader economic growth.
6 Bills You Shouldn’t Put on AutoPay
Stacey Marcus Reader’s Digest Updated: Aug. 06, 2021
Putting your bills on AutoPay is a simple and seamless way to budget each month. But beware: There are a few bills and balances that don't make sense to streamline.
Paying your bills online has many benefits like avoiding late fees, reducing paper bills, and adding security, but what about putting your bills in the queue using AutoPay?
Regardless of the type of bill being paid, Dana Marineau, Credit Karma’s former VP of Communications and Brand, recommends using automatic payments to pay your monthly bills only if you’re confident you can afford to pay in full. “Otherwise, you may build up a balance that will charge you interest—and that could undermine your efforts to stay on top of your bills,” Marineau explains. “If you aren’t confident you can pay in full, avoid AutoPay.”
In particular, she says you might want to avoid paying the following bills on AutoPay.
Annual subscriptions or auto premiums
You shouldn’t have infrequent bills on AutoPay, like an annual subscription or semiannual vehicle insurance premium, because you’re likely to forget about them. If one of those bills hits your account when your balance is low, you may end up overdrawing your bank account and getting hit with a fee. Or you may be getting charged for it without even realizing it if you don’t check your statements diligently. Plus, it’s important to pay attention to how many subscriptions services you’re using; having an excessive amount is one of the spending habits personal finance experts hate the most.
Utility and cable bills
Don’t use automatic payments for bills where the total fluctuates each time: think utility bills and cable bills that could end up being a different total each month. You should also avoid paying certain bills with cash—including utility bills.
Credit card bills
Credit card bills can present challenges when it comes to automatic bill pay because you’ll want to cover at least the minimum amount due, and you may or may not have enough money to pay more every month. Smart credit card management is a must for healthy personal finance, so make sure you know the purchases you definitely should and definitely should not use a credit card for.
Memberships
Lastly, any temporary charges, like memberships or subscriptions, should not be on AutoPay to ensure you’re only paying for the time you used them. If you sign up for a trial of service but forget you’re paying since it’s on AutoPay, you may be shocked when you finally look at your credit card bill later on to find you’ve been paying for a service you weren’t using.
In order to pay each bill on time and ensure you aren’t overspending, it’s sometimes helpful to set aside a regular, recurring time to pay your bills. Schedule a block of time on your calendar, and try to make it part of your routine. Marineau recommends that you set up alerts every time a payment is taken from your bank account so you know what is being spent, whether it’s done manually or automatically.
These tips demonstrate the importance of knowing how your money is being spent. Making and keeping a budget is a useful way to do that.
Stacey Marcus is a regular contributor to RD.com where she covers subjects ranging from penguin secrets to Jeopardy! conundrums. Stacey’s work has also appeared on FamilyHandyman.com and TheHealthy.com as well as in top regional and national outlets including Boston magazine, Boston Common Magazine, Destination I Do, Ocean Home Magazine, and Playboy.com. She earned a BA in Communications from Simmons University.
Be physically active as a part of your everyday life — walk more and sit less.
(An AICR Report)
Being physically active and exercising can lower your cancer risk, help you have a healthy weight and lessen your risk for numerous chronic diseases. Just 30 minutes of physical activity 5 times a week can go a long way towards improving your health.
To get the most out of your physical activity, combine it with a healthy diet. When you marry a plant-based eating style with intentional physical activity, you’ll more likely balance the calories you take in with what you burn, and you’ll more naturally have and maintain a healthy weight.
Start Moving
Sometimes getting started is the hardest step. There may be mental hurdles to overcome, and feelings of frustration to get through. But it’s never too late to start being active. And any type of physical activity is better than none.
Make it easy on yourself by starting simply, starting where you are, and taking one day at a time.
Meaning: If you used to run but you haven’t laced up in years, then don’t shoot for ten miles on day one. And, if you’ve never been into fitness, then don’t start with a high-intensity, cross training class.
Instead, set some realistic goals, make a plan, and try to get a little better each day.
Make A Plan
If you’ve never been physically active, consider starting your journey towards regular activity with a series of moderate, 15-minute exercise sessions. Do five sessions during week one. Then gradually add five, ten, or fifteen minutes over the next several weeks until each session gets past the 30-minute mark.
If you want to start really simply, then go for brisk walks. By walking 30 minutes a-day, five days a week you easily meet AICR’s recommendation to be physically active 150 minutes a-week and reduce your cancer risk.
If you haven’t been active in a while, begin with easy to moderate activities and build-up your time and intensity levels gradually.
Warm up first by marching in place or walking for five minutes. Once you’re done with your exercise, take care of your muscles by stretching for a few minutes.
Over time, increase your exercise level to improve your fitness. Push yourself without causing pain or too much exhaustion. Mix up your activity routine to keep it interesting. During the week, spend time doing different kinds of exercise:
Being consistently active is all about your mindset. Instead of thinking of exercise as a task, consider physical activity as play. Have a good time moving and enjoy the world around you, knowing that you are creating a healthier life for yourself.
The best way to get active and stay active is to make sure you’re having fun. If you’re not into jogging solo, consider finding a group activity class that interests you. Maybe some yoga? Or dance? Or swimming? Or just hitting the gym?
One way to really make physical activity part of your lifestyle is to add some accountability. Maybe start getting fit with a friend or someone who can support you and help keep you on track.
Awareness of your progress is important. You can chart your activity in a workout journal or make a game out of counting your steps with a wearable fitness tracker.
However You Choose to be Active, You’ve Got to Move More, and Sit Less
Move More. You’ve got to move if you want to stay healthy. Physically active people tend to live healthier and longer. Plus, they enjoy more independence as they age.
And Sit Less. People who spend a lot of time sitting – to binge watch TV, for example – are more prone to unhealthy weight gain, cancer and other chronic diseases including type two diabetes and heart disease. If you spend your day at a sedentary job and then sit at your computer or television for a few hours every night, that sedentary lifestyle can increase your cancer risk.
Surprising Muffin Tin Recipes for Every Meal of the Day
By Karla Walsh
Updated February 18, 2021
Tuscan Mac and Cheese Cups
Ingredients
Ingredient Checklist
- Nonstick cooking spray
- 12 very thin slices prosciutto
- 3 tablespoons butter
- ⅓ cup panko bread crumbs
- 8 ounces dried elbow macaroni (2 cups)
- 3 cups chopped fresh kale
- 2 tablespoons all-purpose flour
- 1 ¼ cups milk
- 1 ½ cups shredded fontina cheese (6 ounces)
- ½ cup crumbled Gorgonzola cheese or shredded Parmesan cheese (2 ounces)
- 1 ½ teaspoons Dijon-style mustard
- ¼ teaspoon salt
Preheat oven to 375°F. Coat twelve 2 1/2-inch muffin cups with cooking spray. Lightly press prosciutto slices onto the bottoms and up the sides of the prepared muffin cups, allowing edges to extend over rims of cups. Bake for 5 minutes.
- Step 2
- Step 3
- Step 4
- Step 5
Chicken-Feta Phyllo Cups with Tzatziki Sauce
Ingredients
Ingredient Checklist
- Nonstick cooking spray
- 8 sheets (14x9 inches) frozen phyllo dough, thawed
- ¾ cup boiling water
- ⅔ cup whole wheat couscous
- 2 cups chopped cooked chicken breast
- 1 cup chopped fresh spinach
- ½ cup roasted red sweet pepper, drained and chopped
- ⅓ cup crumbled reduced-fat feta cheese
- ¼ cup finely chopped, pitted kalamata olives
- ¼ cup bottled light Italian salad dressing
- Tzatziki Sauce
- lemon wedges (optional)
Instructions Checklist
- Step 1
- Step 2
- Step 3
- Step 4
Mini Turkey Meat Loaves with Fiery Tunisian Sauce
Ingredients
Ingredient Checklist
- Nonstick cooking spray
- 1 egg, lightly beaten
- ⅔ cup almond meal
- ½ cup finely chopped green onions
- 4 cloves garlic, minced
- ½ teaspoon sea salt
- ½ teaspoon caraway seeds, crushed
- ¼ teaspoon freshly ground black pepper
- 20 ounces lean ground turkey
- 1 recipe Fiery Tunisian Sauce
Instructions Checklist
- Step 1
- Step 2
- Step 3
- Step 4
Breakfast Ham and Egg Cups
Ingredients
Ingredient Checklist
- Nonstick cooking spray
- 8 thin slices deli-style cooked ham
- ¼ cup shredded Italian cheese blend or mozzarella cheese (1 ounce)
- 8 eggs
- Ground black pepper
- 8 teaspoons basil pesto (optional)
- 8 cherry tomatoes or grape tomatoes, halved
Instructions Checklist
- Step 1
- Step 2
- Step 3
(Recipes courtesy of BH&G)
In One Year, Pandemic Forced Millions of Workers to Retire Early
From flight attendants to grocery store managers, older adults made the tough decision to end careers
by Jon Marcus, AARP, March 10, 2021
Desmond, 62, has been a flight attendant for 36 years, most recently on the American Airlines route between Phoenix and London. But after repeated leaves forced by the COVID-19 pandemic, she has put in to retire much earlier than she had planned.
"I could have done that till I was 70,” Desmond says. “Then COVID hit."
Her friends who have already retired early from the airline went through the same anguish. “They cried. They literally cried,” says Desmond. “It hasn't honestly sunk in yet. It's very sad."
There are also financial considerations. Although she'll get a payout from the airline, “I won't be getting my salary, so I have to dip into my savings.” She hasn't yet decided when to claim Social Security, since monthly benefits are lower for people who claim them before they reach the program's full retirement age.
In the meantime, “I won't be getting a paycheck, which is scary for me."
A year after the COVID-19 pandemic was declared a national emergency, many of the disproportionate number of older Americans pushed out of the workforce by the combined health crisis and economic downturn are retiring earlier than planned, risking long-term financial insecurity because of lower-than-anticipated savings and payouts from pensions, Social Security and other sources.
"Older workers, millions of them, are going to be downwardly mobile from the comforts of middle-class life,” says Teresa Ghilarducci, a labor economist at The New School and director of its Schwartz Center for Economic Policy Analysis, who specializes in retirement security.
"People plan their retirement years and they look at their spreadsheets. They assume raises. They assume they will pay off their debts. Then this recession hits and they're forced out of the labor force, and all of those assumptions disappear at once."
Two million older adults have stopped looking for work
The number of people affected by this problem is beginning to come into focus.
In a reversal of previous recessions, when they were protected by their longevity, older Americans are more likely than mid-career workers to be out of work this time, according to the Center for Retirement Research at Boston College.
More than a quarter of all workers say COVID has prompted them to move up their retirement date, found a survey released in February by the National Institute for Retirement Security.
Nearly 2 million older workers have left the labor force for good since the start of the pandemic, the Schwartz Center says. That means the number of older workers still employed is down by about 5 percent, compared to less than 2 percent for workers ages 35 to 54.
The rate at which older workers continue to participate in the workforce, either by staying in their jobs or by seeking new ones, fell in January to its lowest point since the start of the pandemic, the Schwartz Center says. The Center estimates that 3 million more older workers would be working now if the pandemic did not happen.
The proportion of all Americans who will be financially insecure when they retire — meaning they will be unable to maintain their pre-retirement standard of living — has also increased, from 50 percent to 55 percent, according to the Center for Retirement Research.
"These workers were already at risk for downward mobility, but [the pandemic] accelerated this trend,” Ghilarducci says. And that will bring “a lot of silent and solitary misery as people cut down their spending.”
Job losses have hurt some groups more than others
Lower-income older workers are the most affected.
"People in higher-paid tracks have kept their jobs. At the same time, the folks at the bottom are involuntarily losing their jobs,” says Dan Doonan, executive director of the National Institute on Retirement Security.
Those older workers who have jobs that can be done from home are typically the ones with greater education and higher incomes, the Center for Retirement Research estimates.
Unemployment for people in lower-paying jobs and for Black, Hispanic and Asian older workers has been more than twice that of higher-income older workers during the pandemic.
"The other side of this is the inequality of it,” says Siavash Radpour, associate director of The New School's Retirement Equity Lab. “Many who have lost their jobs are in the bottom half of income. They didn't have much retirement savings anyway. If they had the prospect of wage growth, they have lost it by losing their jobs."
Watch: What to Say When Your Friend Loses Their Job
This leaves many people to depend exclusively on Social Security. Yet the earlier a recipient claims Social Security, the lower his or her lifetime benefits will be.
"If you go out early and take Social Security early, that reduction is for the rest of your life,” says Doonan. “You'll be living with low income for the rest of your life."
The average monthly Social Security benefit for retired workers is $1,503. But 67 percent of retirees on Social Security get less than that because they claimed their benefits before they reached full retirement age — 67 for people born in 1960 or later — the Social Security Administration says.
"Even in good times, most retirements are involuntary,” Ghilarducci says, because of issues including layoffs, business closures and health problems. “When you ask people if they retired at the age they thought they would, most people say they retired earlier."
Tough financial decisions in a difficult year
Before she retired last year from her job as a dental hygienist, Katy Pompe and her husband consulted a financial adviser and decided to delay putting in for Social Security until their monthly benefits have time to increase.
"My husband is a great saver, and he's converted me into being a great saver,” Pompe says as she walks her border collie, Lotus, in her neighborhood near Phoenix.
Now 62, she moved up her timetable for retiring from her job of 17 years soon after the start of the pandemic, in part because of worries about the health risks.
"The straw that really broke the camel's back was the PPE we had to wear,” she says of the heavy personal protection equipment required in the dentist's office where she worked, which made it hard to communicate with patients.
Still, she says, early retirement was a big step. “I was really concerned about not working, because I've done it for so many years, and I loved it."
Other Americans are already burning through their financial resources or reducing the amount they're saving for retirement. Twenty-two percent say the pandemic has forced them to spend their emergency savings, 10 percent have reduced their retirement plan contributions, and 12 percent have withdrawn money from their retirement accounts, according to a survey by the National Institute for Retirement Security.
The CARES Act temporarily allowed people with pandemic-related hardships to withdraw up to $100,000 from tax-deferred retirement accounts without penalty.
A quarter of workers say their employers have also cut their retirement matches. Among the companies that suspended their 401(k) matches are Amtrak, BestBuy, Choice Hotels, Dell Technologies, Expedia, Knoll, Norwegian Cruise Line, Quest Diagnostics, RE/MAX, Stein Mart and VMWare.
More and more older workers are carrying mortgage debt into their retirement, thanks in part to the last recession. Forty-six percent of older Americans have mortgage debt, nearly twice the proportion of three decades ago.
Skip Kelley wanted to pay off some debt before he retired, which he intended to do in another year or two. “I wasn't quite there yet,” says Kelley, who is 61.
Then the local television station he managed, in hard-hit Las Vegas, offered early retirement buyouts.
"I had a three-week period to make a decision about whether I was going to end my career or not,” says Kelley.
In the end, he took the buyout, which was enough to pay off those remaining debts. As for the lower monthly amount he would get for claiming Social Security early, “It actually was a big concern. Yes, my benefit is less than it would have been. But in the long run, it's the right decision, and I've adjusted already to what's coming in."
Unlike younger people living in poverty, most retirees have little or no prospect of upward mobility. Social Security and pensions are adjusted only to keep up with the rate of inflation. “That means you are locked in for the rest of your life” to the same basic income, Radpour says.
Concerns about caregiving also led to retirements
Anxieties about all these things have been heightened by the pandemic. More than half of Americans say their concerns about retirement have increased over the past year, that National Institute for Retirement Security survey found.
"Even in good times, most retirements are involuntary. When you ask people if they retired at the age they thought they would, most people say they retired earlier."
— Teresa Ghilarducci
The trend is likely to create a downward spiral by putting more strain on younger relatives, who may have to retire earlier themselves to care for their parents.
Even before the pandemic, 40 million people, or 16 percent of the population, were caring for an older person without pay, according to the Bureau of Labor Statistics. Of those, nearly 60 percent are women, delaying or interrupting their own careers, and a quarter are over age 55.
"Younger generations are going to be impacted by their parents going into retirement if they don't have the resources. So are safety net programs,” says Doonan.
Pete Ramirez moved up his own retirement over concerns about being exposed to COVID-19 in his job as assistant director of a Tucson supermarket. He was especially worried he might pass it on to his parents, for whom he is a caregiver. Both are 90.
"At first you didn't see a lot of people getting sick” at work, Ramirez says. “But then they started getting sick, and I was thinking, ‘I'm taking this home.’ “
Ramirez retired on Jan. 1, just before turning 62, instead of at 65, as he had planned.
"My parents are more important than my job,” he says. And when an employee in her 20s died of COVID-19 the day after he left, “I thought to myself, ‘Now I know I made the right decision.’ “
Still, it was a decision that cost Ramirez $500 a month, which is how much less he says he'll get from Social Security than if he'd waited. But his house and cars are paid off and he has two IRAs, one from his 19 years at the supermarket and another from an earlier job.
The situation for many older workers isn't anywhere near that good.
Only about half of American households have 401(k) or retirement accounts, according to the Center for Retirement Research; the rest have to rely entirely on Social Security.
Half of Americans ages 56 to 61 had less than $21,000 in retirement savings in 2016, the most recent year for which the figure is available, the Economic Policy Institute reports.
"All these trends are very troubling for the near retirees,” says Doonan. “It's a bit late to start saving."
Desmond, Pompe, Kelley and Ramirez say they have few regrets about their new lives.
"At first, I was really concerned about not working, because I've done it for so many years, and I loved it. But I've actually embraced retirement. I really like it,” says Pompe, who bought an e-bike that she tries to ride every day.
Desmond has become active in pickleball, a paddleball sport with elements of tennis, badminton and table tennis. Kelley has a pile of stones in his driveway he plans to use to build a new retaining wall, and a shop behind the house where he restores classic cars.
Ramirez, whose hobby is woodworking, is building a porch and shelves, and planning with his wife for future travel. “My wife keeps saying I'll get bored. I don't foresee it,” he says.
Even for those who have managed to save enough money for retirement, the huge exodus of people who haven't risks slowing broader economic growth.
6 Bills You Shouldn’t Put on AutoPay
Stacey Marcus Reader’s Digest Updated: Aug. 06, 2021
Putting your bills on AutoPay is a simple and seamless way to budget each month. But beware: There are a few bills and balances that don't make sense to streamline.
Paying your bills online has many benefits like avoiding late fees, reducing paper bills, and adding security, but what about putting your bills in the queue using AutoPay?
Regardless of the type of bill being paid, Dana Marineau, Credit Karma’s former VP of Communications and Brand, recommends using automatic payments to pay your monthly bills only if you’re confident you can afford to pay in full. “Otherwise, you may build up a balance that will charge you interest—and that could undermine your efforts to stay on top of your bills,” Marineau explains. “If you aren’t confident you can pay in full, avoid AutoPay.”
In particular, she says you might want to avoid paying the following bills on AutoPay.
Annual subscriptions or auto premiums
You shouldn’t have infrequent bills on AutoPay, like an annual subscription or semiannual vehicle insurance premium, because you’re likely to forget about them. If one of those bills hits your account when your balance is low, you may end up overdrawing your bank account and getting hit with a fee. Or you may be getting charged for it without even realizing it if you don’t check your statements diligently. Plus, it’s important to pay attention to how many subscriptions services you’re using; having an excessive amount is one of the spending habits personal finance experts hate the most.
Utility and cable bills
Don’t use automatic payments for bills where the total fluctuates each time: think utility bills and cable bills that could end up being a different total each month. You should also avoid paying certain bills with cash—including utility bills.
Credit card bills
Credit card bills can present challenges when it comes to automatic bill pay because you’ll want to cover at least the minimum amount due, and you may or may not have enough money to pay more every month. Smart credit card management is a must for healthy personal finance, so make sure you know the purchases you definitely should and definitely should not use a credit card for.
Memberships
Lastly, any temporary charges, like memberships or subscriptions, should not be on AutoPay to ensure you’re only paying for the time you used them. If you sign up for a trial of service but forget you’re paying since it’s on AutoPay, you may be shocked when you finally look at your credit card bill later on to find you’ve been paying for a service you weren’t using.
In order to pay each bill on time and ensure you aren’t overspending, it’s sometimes helpful to set aside a regular, recurring time to pay your bills. Schedule a block of time on your calendar, and try to make it part of your routine. Marineau recommends that you set up alerts every time a payment is taken from your bank account so you know what is being spent, whether it’s done manually or automatically.
These tips demonstrate the importance of knowing how your money is being spent. Making and keeping a budget is a useful way to do that.
Stacey Marcus is a regular contributor to RD.com where she covers subjects ranging from penguin secrets to Jeopardy! conundrums. Stacey’s work has also appeared on FamilyHandyman.com and TheHealthy.com as well as in top regional and national outlets including Boston magazine, Boston Common Magazine, Destination I Do, Ocean Home Magazine, and Playboy.com. She earned a BA in Communications from Simmons University.
Be physically active as a part of your everyday life — walk more and sit less.
(An AICR Report)
Being physically active and exercising can lower your cancer risk, help you have a healthy weight and lessen your risk for numerous chronic diseases. Just 30 minutes of physical activity 5 times a week can go a long way towards improving your health.
To get the most out of your physical activity, combine it with a healthy diet. When you marry a plant-based eating style with intentional physical activity, you’ll more likely balance the calories you take in with what you burn, and you’ll more naturally have and maintain a healthy weight.
Start Moving
Sometimes getting started is the hardest step. There may be mental hurdles to overcome, and feelings of frustration to get through. But it’s never too late to start being active. And any type of physical activity is better than none.
Make it easy on yourself by starting simply, starting where you are, and taking one day at a time.
Meaning: If you used to run but you haven’t laced up in years, then don’t shoot for ten miles on day one. And, if you’ve never been into fitness, then don’t start with a high-intensity, cross training class.
Instead, set some realistic goals, make a plan, and try to get a little better each day.
Make A Plan
If you’ve never been physically active, consider starting your journey towards regular activity with a series of moderate, 15-minute exercise sessions. Do five sessions during week one. Then gradually add five, ten, or fifteen minutes over the next several weeks until each session gets past the 30-minute mark.
If you want to start really simply, then go for brisk walks. By walking 30 minutes a-day, five days a week you easily meet AICR’s recommendation to be physically active 150 minutes a-week and reduce your cancer risk.
If you haven’t been active in a while, begin with easy to moderate activities and build-up your time and intensity levels gradually.
Warm up first by marching in place or walking for five minutes. Once you’re done with your exercise, take care of your muscles by stretching for a few minutes.
Over time, increase your exercise level to improve your fitness. Push yourself without causing pain or too much exhaustion. Mix up your activity routine to keep it interesting. During the week, spend time doing different kinds of exercise:
- aerobic (try zumba or jogging)
- strengthening (try lifting weights, doing body weight work, or using resistance bands)
- balance (try tai chi and yoga)
- flexibility (try stretching)
Being consistently active is all about your mindset. Instead of thinking of exercise as a task, consider physical activity as play. Have a good time moving and enjoy the world around you, knowing that you are creating a healthier life for yourself.
The best way to get active and stay active is to make sure you’re having fun. If you’re not into jogging solo, consider finding a group activity class that interests you. Maybe some yoga? Or dance? Or swimming? Or just hitting the gym?
One way to really make physical activity part of your lifestyle is to add some accountability. Maybe start getting fit with a friend or someone who can support you and help keep you on track.
Awareness of your progress is important. You can chart your activity in a workout journal or make a game out of counting your steps with a wearable fitness tracker.
However You Choose to be Active, You’ve Got to Move More, and Sit Less
Move More. You’ve got to move if you want to stay healthy. Physically active people tend to live healthier and longer. Plus, they enjoy more independence as they age.
And Sit Less. People who spend a lot of time sitting – to binge watch TV, for example – are more prone to unhealthy weight gain, cancer and other chronic diseases including type two diabetes and heart disease. If you spend your day at a sedentary job and then sit at your computer or television for a few hours every night, that sedentary lifestyle can increase your cancer risk.
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