Planning Retirement
Planning for a satisfying life in retirement involves exploration of how to set up finances, obtain the best medical coverage possible, and prepare for new ways of organizing and enjoying the time now available. The Retiree Initiative Planning Group (RIPG) and Human Resources (HR) organize occasional seminars and offer opportunities to listen to and speak with consultants who specialize in retiree issues. There are also numerous external resources that can assist those considering retirement and those already retired with decision-making.
Finances
The Retiree Initiative Planning Group sponsors occasional seminars to help retirees make sound fiscal decisions. However, there are also external resources available through the government and retirement planning groups that may also be of use to retirees. We urge you to research on your own to ask questions of the helpful staff in the Human Resources Office if you need additional assistance.
- AIG Retirement Services - articles, tools, and calculators to help you meet financial goals and prepare for your retirement
- Allworth Financial - hundreds of resources to help you plan and prepare for a successful retirement
- Annual Credit Report – use to get your free credit report annually (Toll Free Number: 1-877-322-8228)
- Garrett Planning Network - nationwide network of independent, fee-only financial advisors
- Insure.com - informative website on all types of insurance
- Medicare
- Mint.com - handy website to help keep track of spending
- Mvelopes - software offering a variety of money management tools to keep better track of your personal budget
- MyFICO - use to obtain your credit score (300 to 850)
- Social Security
- T. Rowe Price - helps figure retirement goals and priorities and the risks to your plan
- Voya Financial Planning Calculators - calculate retirement costs, life insurance needs health savings account goals and more
- Withdrawal Strategy
- ACLU Estate Organizer - helps you document your important financial and personal information in one place.
- Economic Security Planner - recommends how much life insurance you need
- Elder Answers - reader-friendly news and explanations of Medicaid coverage of long-term care, Medicare benefits, estate planning, guardianship, and other legal issues affecting seniors
- Heirs.com - advises beneficiaries of trusts
- Lawyers.com – consumer-friendly information from law publisher
- Martindale-Hubbell - helps with commonly asked legal questions
- National Academy of Elder Law Attorneys – lists attorneys specializing in protecting assets from long-term care expenses
- National Association of Estate Planners and Councils - professional association of estate planning attorneys
- NOLO Law for All - reliable books, software, and self-help legal materials
Benefits
Skidmore offers a comprehensive benefits plan for our retirees. Explore the topics below for more information.
Here you'll find answers to the most commonly asked questions regarding retirement benefits.
This description is a brief overview of Skidmore's Retirement Plan, and is not meant to interpret, extend or change the Plan in any way.
This article provides information to help you determine how much you may need to save now to pay for health care in retirement.
The Phased Employment Program described in this document is an initiative which Skidmore
College is
taking to expand the options available to its eligible non-unionized employees through
a preretirement reduction of their full-time working commitment while gradually phasing
into retirement over a
period of years.
Here you'll find overviews of Skidmore's various healthcare benefits offered to retirees.
Healthcare
Components of retiree health care can include Medicare, private health insurance and long term care insurance. Explore the topics below for more information.
- American Association of Long-term Care Insurance - explains LTC insurance and provides access to long-term care specialists
- American Health Insurance Plans - guide to long-term care insurance
- Center for Medicare & Medicaid Services - offers useful information about the programs, with links to programs in every state
- Longevity Alliance - provides quotes on long-term care insurance
- Medicare Hotline: 1-800-633-4227.
- Medicare Rights Center -non-profit group that helps consumers navigate the complex benefit and enrollment system
- Medicare Website - provides information on Medicare and allows you to locate physicians who accept Medicare assignment (MDs who participate in the program and agree to Medicare's rates and rules)
- National Association of Insurance Commissioners - provides a shopper’s guide to long-term care insurance
- National Clearinghouse for Long-Term Care Information - U.S. Dept. of Health and Human Services repository of useful information on long-term care
- National Council on Aging - lists community, state or federal programs
- Social Security website - allows you to estimate benefits and provides practical program information
- State Health Insurance Assistance Program - provides free health insurance counseling and help either by telephone (800-633-4227) or in person
Living the Life
Retirement presents many opportunities for a change of focus or location. Browse the links below for inspiration.
- 2 Young 2 Retire - helps retirees discover purpose, callings, and passions
- AARP Experience Corps - good resource for tutoring and mentoring young people
- Coming of Age - includes articles to explore what’s next in your life
- Retirement Jobs - for retiree job seekers
- AARP on Reverse Mortgages
- Caring Transitions - aids senior citizens in the moving process
- FTC on Reverse Mortgages
- Great Places to Retire - compare cities and towns
- Home Exchange - Home exchange for vacations
- Kiplinger's Retiree State-by-State Guide to Taxes
- Retirement Living Information Center
- Senior Resource - information on making housing choices
- Sperling's Best Places - information on housing costs, taxes, etc.
With acknowledgement to David Carboni, Ph.D., CFP, of DKC Retirement Associates LLC for his help in compiling these websites.
