It has been ten years since I started publishing Happily Rewired. During that time, many other blogs, newsletters and websites devoted to aging and the baby boomer population have arrived on the scene. While I believe Happily Rewired has been able to set itself apart, there seems to be less of a need for a blog like mine.

As a result, Happily Rewired is retiring as of January 31, 2025. Blog posts will remain available until at least that time, but no new posts will be published.

If you are looking for similar sources of information, I highly recommend the following online publications:

Next Avenue
Next Avenue publishes news and information for people over 50.

Crow's Feet
Crow's Feet publishes commentary from a diverse group of writers about life as we age. To read articles on a regular basis, you must be a member of Medium.

I write for Crow's Feet, and below are several of my articles for that publication. By clicking on the title of each article, you will be able to read it at no charge. If you like these articles, I encourage you to become a member of Medium and follow me there: https://medium.com/@barrydsilverstein

I hope you found value in the information I provided through publishing HappilyRewired.com.

All the best,
Barry Silverstein

Select Articles from Crow's Feet

How to Survive Downsizing

Life Lessons from Tea Bag Tags

Older Workers Have Had Enough

Can You Age Gracefully in America?

Many Things in Life are Cyclical

On September 26, 2024, the Longevity Project of the Stanford Center on Longevity presented the first in a series of webinars entitled "How Ageism Affects Our Lives." It explored everything from gendered ageism, to ageism in healthcare, to innovations in intergenerational living - plus discussed the roots of ageism in the US and how it is felt across work, healthcare, and community.

An excellent panel of speakers, moderated by Ken Stern, joined in a lively conversation:

• Janine Vanderburg, CEO of Encore Roadmap + Founder/Former Director of Changing the Narrative

• Dr. Sonja Rosen, Chief of Geriatrics at Cedars-Sinai

• Kyrié Carpenter, Co-Founder of Old School Anti-Ageism Clearing House

These are a few of the takeaways from the webinar:

• Everyone at every age is different. Aging may be universal, but the decline during aging is not the same for everyone. In addition, not all older people necessarily think the same way.
• Ageism is a gateway to other "isms." It is good to know and understand other -isms, such as racism and sexism, so you can see people for who they are, not just as a group classification. A common thread that runs through all -isms is unconscious bias.
• Intergenerational experiences are increasingly important as we age. These experiences are particularly helpful when you share common goals and each individual has equal status during interactions.
• Look at every public or government policy with an eye toward ageism and see if ageism plays a role that affects the policy.
• Technology can be a separator of generations. You have to determine if the convenience of using technology is worth the ultimate loss of control you may have. Older people shouldn't automatically think they are stupid when using technology -- it may in fact be that the technology is imperfect and not as user-friendly as it should be.
• Social media has become the cigarettes of this era -- addictive and potentially harmful.

To gain more insights from this webinar, you can view it in its entirety here:

https://www.longevity-project.com/how-ageism-affects-our-lives

Guest Post byJack Wallace, Director at Yrefy

The Fall is a great time to review your retirement budget. Here's what to look for.

Review income and expenses

The first step is to review and analyze your retirement budget including your current income and expenses. Review your income and expenses line by line. Compare your YTD 2024 income and expenses to your income and expenses for 2023. Chances are, given the inflation and high-interest rate environment we have experienced for the last two years, you may need to make some more lifestyle adjustments for the remainder of 2024 and beyond which you would much rather figure out sooner rather than later. (Note: Given the recent 50 basis point reduction in interest rates on September 18, 2024, by the Federal Reserve Bank, and an indication that there are more interest rate reductions to continue, you also may have to adjust your income assumptions downward if you have money market accounts or bank CD’s coming due.)

Essential vs. non-essential expenses

Next you need to review what you consider essential versus non-essential expenses, aka needs versus wants! How much of your monthly spending is discretionary as compared to necessary expenses? How much could you save making more meals at home? Could you cut back on your entertainment expenses and look for more, free, and/or senior discount things to do around town? Budgeting for your housing repairs, health care (particularly medications), transportation and food are the priority expenses not to mention essential, so be sure you’ve allocated enough for your essentials before budgeting for discretionary expenses.

Take advantage of discounts

Whether you’re a member of AARP or the Association of Mature American Citizens, take advantage of senior discounts whenever and wherever you can. It is a fantastic way to save money and still do the things you like. You’ve earned it! Get the senior rate when traveling, look for pharmacies offering prescription card discounts and check out discounts offered to seniors at local retailers, restaurants and entertainment venues.

Consolidate your debts

As of June 2024, 50 percent of credit card holders don’t pay off their credit cards monthly and carry balances from month to month. Given the high-interest rate environment of the last two years, many people are barely able to make the minimum monthly payment. If you have a lot of credit card debt and other loans that you’re struggling to make payments on, consolidate the credit card debt into one credit card with the lowest interest rate possible (pay attention to the fine print for those teaser rates), so you can factor in paying down this debt each month. This can give you peace of mind, and eventually keep more of your money in your pocket. Try setting aside extra money each month to pay down more debt than the minimum that is due so you can get the mountain of debt down as quickly as possible.

Pay off big debts

If you have high floating rates or fixed rates of interest on your auto loan, credit cards, private student loans, or mortgage, shop around and see if you can get a lower interest rate, particularly given the recent action by the Federal Reserve. Make sure you are paying by ACH since most banks will reduce your interest rate 25 basis points or more for doing so. Paying this way may also increase your credit score since you will not have any delinquent payments. You should see an increase in your credit score which could put you in a better credit score category that will get you a lower interest rate.

If you still have Federal student loan debt that you are repaying for your education or for your children or grandchildren, go to www.studentaid.gov to see what Income-Driven Repayment Plan works best for you to lower your monthly payment.

Good luck!

With over 40 years’ experience in corporate, education and housing finance, Jack Wallace has and continues to collaborate with clients and the financial community to develop debt and equity funding sources for new and existing asset classes and businesses. Jack currently serves as a Director of Governmental Affairs for Yrefy, a Phoenix based private student loan refinance company.

Image by Rilson S. Avelar from Pixabay

HappilyRewired.com is a Wearever Top 20 Senior Blog and a Top 75 Baby Boomer Blog

Check out Books for Boomers!

On August 14, 1935, President Franklin D. Roosevelt signed the Social Security Act into law. It was a cornerstone of the forward-looking reforms that were packaged together as the “New Deal.”

Social Security was born at a moment in history when the Great Depression had put over half of the aged population in the U.S. in jeopardy because they could not support themselves. Prior to Social Security, destitute older Americans had only their families, “poorhouses,” and paltry social services to rely upon. While some states tried to remedy the situation by instituting state pensions, it was an inadequate solution for most seniors.

Labor Secretary Frances Perkins lobbied Roosevelt to support a package of social welfare benefits that would include Social Security. While Social Security had vocal critics, especially those who objected to a payroll tax, once the American public understood its value, Social Security became arguably the federal government’s most popular program.

Social Security today

Today, 96 percent of the population is eligible to receive Social Security benefits when they reach their retirement age. According to the Social Security Administration:

• In 2024, an average of almost 68 million Americans per month will receive a Social Security benefit, totaling about $1.5 trillion in benefits paid during the year.
• Nearly nine out of 10 people age 65 and older were receiving a Social Security benefit as of June 30, 2024.
• Social Security benefits represent about 30 percent of the income of people over age 65.

Social Security: looking forward

In 1940, five years after the Social Security Act was signed into law, the life expectancy of a 65-year-old was almost 14 years (79 years of age). Today it is over 20 years (85+ years of age). The number of Americans 65 and older will increase from about 61 million in 2023 to about 77 million by 2035.

There has been much reporting about the concern that, by 2034, the Social Security Trust Fund could be exhausted, causing a gap between Social Security tax revenues and benefits due. If Congressional action is not taken, Social Security tax revenues are projected to then cover only about 80 percent of benefits due. In the past, changes were made to Social Security to cover that gap when it existed.

Like millions of Americans, my wife and I currently draw Social Security benefits. Our combined work history, plus the fact that we waited as long as possible to take these benefits, enables us to draw monthly amounts that are essential in helping to ease the financial burden of retirement. I’d bet that is true for many Crow’s Feet readers.

So as I look forward to the future of Social Security, I very much want it to be financially sound for at least 10 years (for our selfish benefit!). Beyond that, I believe the payroll tax should be expanded so that wealthy wage earners pay their fair share into Social Security. This would make it more likely that future generations will not have to see a reduction in benefits.

The elimination of most company pensions, combined with the fact that the American populace in general has underfunded their retirement savings, suggests that Social Security will become more vital as America ages. I hope it remains a viable program that every older American can look forward to in retirement.

This article originally appeared in "Crow's Feet," a Medium publication. You can find the original article here: https://medium.com/crows-feet/social-security-is-89-years-old-84a765d98ba9?sk=ac18dd3800dd159edcb1b1a343b85c62

Image of Social Security card: Public domain via Wikimedia Commons

HappilyRewired.com is a Wearever Top 20 Senior Blog and a Top 75 Baby Boomer Blog

Check out Books for Boomers!

Guest Post
by Jack Wallace, Director at Yrefy

Jack Wallace is the Director of Governmental Relations at Yrefy. With over 40 years’ experience in corporate, education and housing finance, Jack has and continues to collaborate with clients and the financial community to develop debt and equity funding sources for new and existing asset classes and businesses.

Image by Andreas Lischka, Pixabay.com

HappilyRewired.com is a Wearever Top 20 Senior Blog and a Top 75 Baby Boomer Blog

Check out Books for Boomers!

American poet Louis Ginsberg wrote, "The only things we ever keep, Are what we give away." I've always liked this quote because I think it suggests that giving back can do so much for the giver. It also reminds me that older Boomers who have left the traditional workforce have the gift of time -- a gift they can use, if they so choose, to give back. Those Boomers who have been fortunate enough to accumulate wealth, no matter how modest, might also choose to give back financially.

Not all Boomers are in a position to give back right now. The pandemic may have created a difficult health or financial situation that precludes generosity. For others, however, this is a time when Boomers recognize that the world is hurting and needs our help. Look around in your own community and you may see the ravages of the pandemic in food bank lines, closed schools and homelessness. If ever there was a time to give back, this is it.

For Boomers, "giving back" is also a way of showing gratitude for what we have accomplished in life. It could mean adopting a cause we feel passionate about, helping others less fortunate than us, getting involved with an alma mater, or doing something else for the good of society. Personally, I think the "what" is less important than the "why."

There are so many ways to give back that it may actually be somewhat intimidating. I think this article, "How to Help Make the World a Better Place This Year" from the Eblin Group is a good place to start. It does an excellent job of outlining some of the strategies for making a difference in your life, including picking a cause and leveraging what you have to offer.

There are those who believe the Boomer generation is defined by selfishness, but I believe the opposite is true. I think we are a generation that indisputably created positive change in our society, particularly through protesting against an unjust war, advocating for racial and gender equality and pursuing environmental justice. That passion remains with many of us today. Today, plenty of Boomers exhibit kindness to others and give back in any number of ways small and large -- through financial donations, volunteering, mentoring and more. Giving back is truly the Boomer's gift to society and the world.

Image: Kindness Contagion. Image created by Adam Niklewicz. Submitted for United Nations Global Call Out To Creatives - help stop the spread of COVID-19.

HappilyRewired.com is a Wearever Top 20 Senior Blog and a Top 75 Baby Boomer Blog

Read about 156 best and worst brands of the 50s and 60s! 

One of the best things Boomers can do in 2021 is stay informed about aging and longevity. Our generation is living longer than previous generations and the implications are significant. Probably the two most important aspects of increased longevity for Boomers are our health and our finances. Our primary concerns are remaining healthy and being able to live comfortably (i.e., without serious financial worries) in our later years. Some of us are likely to live well into our 90s, so these are of vital importance.

One very valuable source of information is the Longevity Project, whose mission is:
"We foster research and public conversation to build awareness of the implications of longer life, and bring together leaders from business, government, and the social sector to plan for the transitions in healthcare, retirement planning, the future of work and more. Together with our lead content collaborator, the Stanford Center on Longevity and other leading universities, think tanks and media organizations, our goal is to support a new awareness of the longevity challenge and support change so that people around the world can live healthier, more secure and more fulfilled lives."

This past December, the Longevity Project, in collaboration with Stanford Center on Longevity, sponsored the "2020 Century Summit," a four-day virtual symposium (free of charge) featuring world-class speakers who discussed "the implications of the 100-year life." Numerous panel discussions provided rare insight into longevity. The four days featured the following broad areas:

• Rethinking Longevity in the Age of Pandemics
• Longevity & the New Map of Life
• Funding the 100-Year Life
• Longevity Next

I attended several of the sessions and found them to be fascinating. The speakers were outstanding and in many cases they shared visionary ideas about aging and society, both in the United States and worldwide. Whether you are concerned about aging in place, working in your later years, financial security or what the "longevity economy" will look like globally, you are bound to benefit from the information that was shared during the 2020 Century Summit. All of the sessions were recorded and are available here: https://www.longevity-project.com/century-summit

The Longevity Project is a leading example of the kind of information gathering and sharing that will help our generation make better decisions and be able to live more successfully in our later years. As the world's population grows older, more research organizations are focusing on aging. In addition, more products and services will increasingly become available to Boomers. Staying informed is one of the best weapons we have as we age.

HappilyRewired.com is a Wearever Top 20 Senior Blog and a Top 75 Baby Boomer Blog

Read about 156 best and worst brands of the 50s and 60s! 

I've long believed in the power of mentoring. I remember mentors who helped me as I advanced in my career, some of whom were my bosses. I think back to when I ran a direct marketing agency and decided to bring on a partner with more experience than me. He, too, became a key mentor in my professional development.

When I retired from marketing, I wanted to mentor others in the same way. For ten years, I was a volunteer marketing counselor to small business owners, mostly one-person operations, through a local college's small business center.  While I had expertise in marketing, I had to keep up with current marketing practices, so mentoring forced me to stay on top of things and continue to learn. This is a part of mentoring that some people overlook -- mentoring can be as much a learning experience as a teaching experience. For me, mentoring was extremely gratifying, especially when I received the occasional thank you note from a person I helped. I got pretty pumped up when I saw how some local entrepreneurs were applying my advice to grow their businesses.

I have a feeling there is huge mentoring potential in retired and soon-to-be retired Boomers, and so does Marc Freedman, the founder of Encore.org. In his new book, How to Live Forever, Freedman discusses the value of an older generation mentoring younger generations. In an interview with Jane Brody of The New York Times, Freedman said, “Older people are uniquely suited for a mentoring role. The critical skills for nurturing relationships — emotional regulation and empathy — blossom as we age.” 

As for what it takes to be a mentor, Freedman commented that any Boomer could be good at it by following a few basic ground rules. “You don’t have to be a charismatic superhero," Freedman said. "You don’t need an advanced degree. It’s more about the relationship than imparting sage advice. The key is not being interesting. The real key is being interested — being present and paying attention.”

For Boomers who have special expertise in a particular discipline, as I did, mentoring through a small business center or through SCORE, the nation's largest network of business counselors, is the way to go. But there are many other types of mentoring opportunities that don't require a professional background, such as Big Brothers Big Sisters, one of the country's largest youth mentoring organizations.

It turns out that mentoring, like volunteering, really does improve your quality of life in your later years. In her article, Brody cites research from a four-decade study that suggests "middle-aged and older people who invested in the well-being of the next generation were three times as likely to be happy as those who didn’t make such an effort. They also lived longer."

Mentoring worked for me, and it seems to work for many other Boomers. Maybe it can work for you.

Have you heard about the new book, Boomer Brands?

Whether or not you have filed for Social Security benefits, every Boomer should be aware of how Social Security operates. The best source of information is the SSA, the Social Security Administration (www.ssa.gov). There you will find everything you need to know about how and when to apply for benefits.

Boomers tend to have a lengthy work history, which generally means monthly benefit amounts will be higher. According to the SSA, to qualify for benefits in general, an individual must work for at least ten years while earning at least $5,280 per year. However, benefit amounts are also affected by the age at which you start to draw Social Security.

You should be aware of the three most important ages as far as Social Security is concerned:

1. Age 62 - This is the earliest you can draw Social Security, but the benefit amount will be reduced.
2. "Full retirement age" - This is the age at which you receive full Social Security benefits. If you were born between 1943 and 1954, that age is 66. After 1954, that age is 67.
3. Age 70 - This is the age at which Social Security benefits reach the maximum amount. Between your "full retirement age" and age 70, your monthly benefit may increase the longer you wait to draw Social Security.

Also, you can still draw Social Security while you are working if you are age 62 or older.

As you can see, drawing Social Security is a financial decision that should be carefully considered, ideally with the help of a financial advisor.

Most Boomers know that Social Security is completely different from Medicare, a government-funded health insurance program that covers individuals age 65 and over. The inter-relationship with Social Security is simply that Medicare payments can be automatically deducted from Social Security benefits.

There are some important changes to Social Security coming in 2019.

1. The good news is that there will be Cost of Living Adjustment (often called "COLA") to the monthly benefit payment of 2.8 percent beginning in January 2019. That may not sound like much, but the COLA has been next to nothing for many years, so it is a marked improvement.
2. If you are still working between the ages of 62 and your full retirement age, you can still draw Social Security benefits; however, if you earn more than $17,640 per year during that time, the SSA will deduct $1 for every $2 you earn from your monthly benefit. The year that you reach full retirement age, the SSA will deduct $1 for every $3 you earn from your monthly benefit if you earn $46,920 in that year. Once you reach your full retirement age, you can earn any amount without reducing your Social Security benefit.
3. During your earning years, Social Security tax was deducted from your paycheck on earnings up to $128,400 annually. If you made more than that per year, you were only taxed for Social Security purposes on that amount. In 2019, Social Security tax will apply on earnings up to $132,900.
4. Supplemental Security Income (SSI), which is available to those with special conditions (blind and disabilities, for example) will also see a modest increase.

The SSA now offers anyone the ability to set up a personal online account with two-factor security authentication. Once you set it up, you can get personalized information about your potential or actual Social Security benefit and interact with SSA as necessary. Check it out here: https://www.ssa.gov/myaccount/

I'm pleased to say the "Happily Rewired" blog has attracted enough attention that I periodically receive unsolicited input that could be helpful to my readers. Here are two such resources that I think you will find of interest:

1. A Senior's Guide to Healthy Eating
   The website "Nifty Benefits" has put together a helpful infographic. According to the creator Brenda Snow, "My goal with this guide is to help seniors live a fulfilling life, starting with a foundation of good nutrition. From the limitations that can cause seniors to have poor nutrition, to easy tips to incorporate healthy foods into your lifestyle or the lifestyle of your loved one, this guide has a lot of information that I hope will be valuable to you." The informative guide covers observing good basics and special considerations for older adults.
   Find it here: https://niftybenefits.com/seniors-guide-healthy-eating/
2. The Senior Citizen's Guide to Moving
   The website "Hire a Helper" has created a comprehensive free guide to moving. The six helpful chapters are:
   - Popular moving options for seniors
   - Planning out your new home
   - How to downsize
   - The emotional impact of downsizing
   - Moving tips for senior citizens
   - Staying connected in a new city.
   Find it here: https://blog.hireahelper.com/senior-citizens-moving/