Daily Money - The 10 Best Places to Retire in America

Some folks have put their retirement plans on ice. What fun is it to retire when the pandemic prevents you from traveling or socializing freely? You might as well keep working and saving until a vaccine becomes widely available, their thinking goes. Makes sense to me, especially if you’re in good health and you like your job. For one, postponing retirement will give you more time to research destinations if you’re considering a move. Money just released our Best Places to Retire 2020, with plenty of relocation inspiration. We crunched nearly 50,000 data points to bring you 10 cities that rank high on factors that many older adults  prioritize, such as cost of living and climate. Check it out and let me know what you think!

This week in our Retire with Money Facebook group, members discussed this article, about how the pandemic could lower Social Security benefits for people born in 1960. Due to the way benefits are calculated, Social Security benefits for the roughly 4 million Americans born in 1960 could be 9.1% lower than expected — for life. A person with average wages who reaches age 62 in 2022 would get an initial monthly retirement benefit of $189 less than if the average wage index was not dramatically reduced because of COVID, the article says. Considering how much most retirees depend on Social Security, that’s a big reduction! But it’s not a done deal yet — Congress could still act to amend the glitch.

Shipping and other tips to make your remote festivities a success. NEXT AVENUE

Your giving can also help rebalance your assets. MORNINGSTAR

Communication is key to overcoming challenges. CNBC

Don’t despair if, like many Americans, you’re getting a late start. CAN I RETIRE YET?