(450,1,'2020-05-26 23:48:42','2020-05-26 23:48:42','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>5 Things You Shouldn\'t Do During a Recession</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><img src=\"https://www.investopedia.com/thmb/trbT7LfgzJhBFplqk4neMvItb0c=/1500x998/filters:fill(auto,1)/GettyImages-580491059-8a6cba4a927e47388aad56d1d6e5f795.jpg\" width=\"799\" height=\"532\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><br /> In a sluggish economy or an outright</span><span> </span>recession<span style=\"color: #000000;\">, it is best to watch your spending and not take undue risks that could put your financial goals in jeopardy. What happens to the economy during a recession can negatively impact your personal finances and wealth. However, by being prepared and taking a few simple steps to reduce your risks, you can improve your chances of weathering the financial decline. Below are some of the </span>financial risks<span> </span><span style=\"color: #000000;\">everyone should avoid taking during a recession.</span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-1\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_3-0\" class=\"comp mntl-block\">\n<div id=\"billboard1-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard1-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"1050\">\n<div class=\"spacer\">\n<div id=\"billboard1-dynamic_1-0\" class=\"comp billboard1-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"atf\" data-priority=\"2\" data-sizes=\"[[300, 1050], [300, 600], [160, 600], [300, 250], [1, 2], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"2804217245d448f3bf09b3d32c799261\" data-auction-floor-value=\"255\" data-google-query-id=\"CKfM0-qN0ukCFeiEfwYdx8MAgA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-3\" class=\"comp theme-whatyouneedtoknow mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<h3 id=\"mntl-sc-block-callout-heading_1-0\" class=\"comp mntl-sc-block-callout-heading mntl-text-block\" style=\"text-align: justify;\"><span style=\"color: #000000;\">KEY TAKEAWAYS</span></h3>\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<ul>\n<li><span style=\"color: #000000;\">When the economy is in a recession, financial risks increase, including the risk of default, business failure, and bankruptcy.</span></li>\n<li><span style=\"color: #000000;\">Avoid increasing, and if possible reduce, your exposure to these financial risks.</span></li>\n<li><span style=\"color: #000000;\">For example, you\'ll want to avoid becoming a cosigner on a loan, taking out an adjustable-rate mortgage, and taking on new debt—all of which can increase your financial risk during a recession.</span></li>\n<li><span style=\"color: #000000;\">If you\'re an employee, you\'ll want to do everything you can to safeguard your job, such as performing top-notch work and improving your productivity.</span></li>\n<li><span style=\"color: #000000;\">If you\'re a business owner, you might need to postpone spending on capital improvements and taking on new debt until the recovery has begun.</span></li>\n</ul>\n</div>\n</div>\n</div>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Becoming a Cosigner</span></h2>\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p>Cosigning<span> </span><span style=\"color: #000000;\">a loan can be a very risky thing to do even in flush economic times. If the individual taking the loan does not make the scheduled payments, the cosigner could be responsible to make them instead. During an economic downturn,</span><span> </span>the risks associated with cosigning<span style=\"color: #000000;\"> a note are even greater, since the person taking out the loan has a higher chance of losing their job—not to mention the cosigner\'s own elevated risk of ending up unemployed.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_4-0\" class=\"comp mntl-block\">\n<div id=\"billboard2-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard2-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard2-dynamic_1-0\" class=\"comp billboard2-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"600\">\n<div id=\"billboard2\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf1\" data-priority=\"3\" data-sizes=\"[[300, 250], [300, 600], [300, 601], [160, 600], [300, 251], [2, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"37a6758145cd4ad08bf5bf72f2039b93\" data-auction-floor-value=\"135\" data-google-query-id=\"CPG-leuN0ukCFR5PaQod9v4AhA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard2_0__container__\"><span style=\"font-size: 14px; color: #000000;\"> </span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-8\" class=\"comp theme-tip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-1\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">Cosigning potentially leaves you on the hook for the life of a loan. Consider other ways to help the borrower if you can.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">That said, you may find it necessary to cosign for a family member or close friend regardless of what is happening in the economy. In such cases, it pays to have some money set aside as a cushion. Or, instead of cosigning, it may even be preferable to assist with a down payment or other types of assistance rather than leaving yourself on the hook for a cosigned loan on an ongoing basis. </span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_5-0\" class=\"comp mntl-block\">\n<div id=\"billboard3-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard3-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard3-dynamic_1-0\" class=\"comp billboard3-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard3\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf2\" data-priority=\"5\" data-sizes=\"[[300, 250], [300, 252], [3, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"e552cf57b33c4ab8a325f57fe3af4aaa\" data-auction-floor-value=\"150\" data-google-query-id=\"COucpO2N0ukCFcIwaQodsukE8g\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard3_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<h2 id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking out an Adjustable-Rate Mortgage</span></h2>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">When purchasing a home, you may choose to take out an</span><span> </span>adjustable-rate mortgage<span> </span><span style=\"color: #000000;\">(ARM). In some cases, this move makes sense (as long as interest rates are low, the monthly payment will stay low as well). </span><span style=\"color: #000000;\">I</span>nterest rates usually fall early in a recession<span style=\"color: #000000;\">, then later rise as the economy recovers. This means that the adjustable rate for a loan taken out during a recession is nearly certain to rise. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-13\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_6-0\" class=\"comp mntl-block\">\n<div id=\"native_1-0\" class=\"comp scads-to-load native mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt dynamic scads-ad-placed\"></div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp theme-important mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-2\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">While interest rates usually fall early in a recession, credit requirements are often strict, making it challenging for some borrowers to qualify for the best interest rates and loans.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-16\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"><br /> But consider the worst-case scenario: You lose your job and interest rates rise as the recession starts to abate. Your monthly payments could go up, making it extremely difficult to keep up with the payments. Late payments and non-payment can, in turn, have an adverse impact on your</span><span> </span>credit rating<span style=\"color: #000000;\">, making it more difficult to obtain a loan in the future.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_7-0\" class=\"comp mntl-block\">\n<div id=\"billboard4-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard4-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard4-dynamic_2-0\" class=\"comp billboard4-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard4\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf3\" data-priority=\"6\" data-sizes=\"[[300, 250], [300, 253], [300, 600], [4, 1], [200, 200], [180, 150], [200, 200], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"67c65f9897f94815a75c9520c17de319\" data-auction-floor-value=\"160\" data-google-query-id=\"COC-x-2N0ukCFQ1vXgod2jELxA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard4_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"><br /> Instead, assuming you have decent credit, a recession may be a good time to lock in a lower fixed rate on a </span>mortgage refinance<span style=\"color: #000000;\">, if you qualify. However, be cautious about taking on new debt until you see signs the economy is recovering.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_8-0\" class=\"comp mntl-block\"></div>\n</div>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking on New Debt</span></h2>\n<div id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Taking on new debt—such as a car loan, home loan, or student debt—need not be a problem in good times when you can make enough money to cover monthly payments and still save for retirement. But when the economy takes a turn for the worse, risks increase, including the risk that you will be laid off. If that happens, you may have to take a job—or jobs—that pay less than your previous salary, which could eat into your </span>ability to pay your debt<span style=\"color: #000000;\">.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">In short, if you are considering adding debt to your financial equation, understand that this could complicate your financial situation if you are laid off or have your income cut for some reason. Taking on new debt in a recessionary environment is risky and should be approached with caution. In the worst-case scenario, it could even contribute to </span>bankruptcy<span style=\"color: #000000;\">. Pay cash if you can, or wait on big new purchases.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking Your Job for Granted</span></h2>\n<div id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">During an economic slowdown, it is important to understand that even large corporations can come under financial pressure, leading them to reduce expenses any way they can. That could mean scaling back on operating expenses, cutting </span>dividends<span style=\"color: #000000;\">, or shedding jobs.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-28\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Because </span>jobs become so vulnerable during a recession<span style=\"color: #000000;\">, employees should do all they can to make sure their employer has a favorable opinion of them. Coming to work early, staying late, and doing top-notch work at all times is no guarantee that your job will be safe, but doing those things does increase your chances of staying on the payroll. From an employer’s perspective, it makes more sense to cut marginal workers rather than reduce hours or wages for their more productive employees. Make sure that you are not a marginal worker.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-30\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"><br /> Taking Risks With Investments</span></h2>\n<div id=\"mntl-sc-block_1-0-31\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">This tip applies to business owners. While you should always be thinking about the future and investing in growing your business, an economic slowdown may not be the best time to make risky bets. Early on in a recession is not the time to stick your neck out. Later, as soon as the economy starts to show signs of sustainable recovery, is the time to start thinking big when prices for </span>capital purchases<span style=\"color: #000000;\"> and labor costs for new hiring are low. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-32\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-34\" class=\"comp theme-tip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">Especially avoid investment projects that would require you to take on new debt to finance.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">For example, taking on a new loan to add physical floor space or to increase inventory may sound appealing—particularly since interest rates are likely to be low during a recession. But if business slows down—another side effect of recessions—you may not have enough leftover at the end of the month to pay interest and</span><span> </span>principal<span> </span><span style=\"color: #000000;\">on time. Wait until interest rates just start to tick upward and </span>leading economic indicators<span style=\"color: #000000;\"> for your market or industry turn up.</span></p>\n</div>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-37\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">The Bottom Line</span></h2>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">There\'s no need to live a monk\'s existence during an economic slowdown, but you should pay extra attention to spending and be wary of taking any unnecessary risks. Even in the midst of a significant economic downturn, there are many positive steps you can take to improve your situation and </span>recession-proof your life<span style=\"color: #000000;\">. These include</span><span> </span>implementing a realistic budget<span style=\"color: #000000;\">, establishing an emergency fund, and generating additional sources of income.</span></p>\n<p>&nbsp;</p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.investopedia.com/articles/pf/09/avoid-five-recession-risks.asp\">click here</a><span style=\"color: #000000;\">.</span></span></div>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','5 Things You Shouldn\'t Do During a Recession','','inherit','closed','closed','','419-revision-v1','','','2020-05-26 23:48:42','2020-05-26 23:48:42','',419,'http://smartinsurance.tips/419-revision-v1/',0,'revision','',0),(453,1,'2020-05-26 23:52:12','2020-05-26 23:52:12','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">Should You Increase Your Insurance Deductible to Save Money?</span></strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><img src=\"https://www.thebalance.com/thmb/FXmMXUF02v0wUPOt7RnTBYaOdvU=/2121x1414/filters:fill(auto,1)/increasingyourdeductible-5323a5bf65034c1088a260e46ce2dfbc.jpg\" width=\"800\" height=\"533\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></p>\n<p>R<span style=\"color: #000000;\">aising your deductible will save some money on your insurance costs, however, the amount of money you save may not be what you think. Your insurance deductible will directly affect how much you get paid in a claim, but you can save thousands of dollars if you increase your deductible using the right strategy.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Here is everything you need to know to figure out if choosing a higher deductible will save you money.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-3\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_3-0\" class=\"comp mntl-block\">\n<div id=\"billboard2-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard2-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard2-dynamic_1-0\" class=\"comp billboard2-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard2\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf1\" data-priority=\"3\" data-sizes=\"[[300, 250], [300, 600], [300, 601], [160, 600], [300, 251], [2, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"9c18c86741764c8bada74937076ada9f\" data-auction-floor-value=\"240\" data-google-query-id=\"CMSbqL-T0OkCFVAbYgodXlEKvw\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard2_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<h2 id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Should You Increase Your Deductible?</span></h2>\n<p><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">If you have the money on hand and are willing to pay for damages resulting from a claim, then you can increase your deductible to save on costs. If you can afford it, then take the savings your insurance company will give you and start saving money now. However, you don\'t want to make the mistake of increasing your deductible to save a few dollars a month before considering the long-term implications. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_4-0\" class=\"comp mntl-block\">\n<div id=\"billboard3-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard3-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard3-dynamic_1-0\" class=\"comp billboard3-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard3\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf2\" data-priority=\"5\" data-sizes=\"[[300, 250], [300, 252], [3, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"1037aa8329a5404eb09f87146b39adb9\" data-auction-floor-value=\"165\" data-google-query-id=\"CPz3wL-T0OkCFRHhYgodcNUPSw\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard3_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">That\'s the short and simple answer, but it may not be enough information to give everyone a conclusive answer on what they should do. This in-depth overview should help you understand the impact of increasing your deductible, including the ways it can save you money (or cost you money) in the short-term and long-term.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-8\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Where to Find Your Deductible Information</span></h2>\n<p><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">To start with the basics about insurance deductibles, you first need to know how much your deductible is currently. You will be able to find this information on the declaration page of your insurance policy. Sometimes, different coverages have different deductibles. Your earthquake coverage may be different from your water damage or flood insurance, for instance.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp theme-experttiptip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">Don\'t forget to explore the opportunities to save money from the different deductibles on endorsements or other areas of your policy as well.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n</div>\n<h2 id=\"mntl-sc-block_1-0-13\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">What You Need to Think About Before Increasing Your Deductible</span></h2>\n<div id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">The toughest thing about insurance is that the less money you have, the more important it is to have insurance to protect you if something goes wrong. If you are struggling to come up with the money to pay for your insurance, you may want to think twice about increasing your deductible. Here are three things to consider.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-16\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">The Actual Cost of Your Insurance</span></h3>\n<div id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">An increased deductible provides a percentage discount off the cost of the insurance. If you only spend $300 on your insurance, you would need a significant percentage discount to see real savings—especially compared to the cost of making a high-deductible claim.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">For example, do you really want to pay a $1,000 deductible in a claim to save $30 a year? What about if you save $100 in a year? You need to do the math to see if the savings make sense. The higher your insurance costs, the more you will save by increasing the deductible.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span style=\"color: #000000;\"><span class=\"mntl-sc-block-subheading__text\">Why You Have Insurance</span> </span></h3>\n<div id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">If you are in a stable financial position and would likely take care of small issues yourself (without making a claim), it can make sense to get a higher deductible. If, for instance, you would never make a claim for under $1,000 on your car because you can afford to pay for it yourself, then a higher deductible of $1,000 makes a lot of financial sense.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-24\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">On the other hand, if you are worried about your ability to cover any amount of unexpected costs, then you\'re better off paying a few more dollars in insurance every year to get a deductible you could afford. Once you start to build some savings, you can revisit the issue and look into increasing your deductible. </span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">How Often You Make Insurance Claims</span></h3>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">If you think you will never have to make an insurance claim, you can take a risk by increasing your deductible. \"Risk\" is the keyword here. You may have never made a claim in your life, but you never know when you\'ll need to. Remember that the deductible represents the direct financial impact you are willing to personally accept if you need to make a claim. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-28\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_5-0\" class=\"comp mntl-block\">\n<div id=\"native-placeholder_2-0\" class=\"comp native-placeholder mntl-block\"></div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">If you have a history of making too many insurance claims, there is a good chance you are already paying a lot of money for insurance. Making more claims when it is not necessary will increase your overall insurance costs. Therefore, taking a higher deductible to avoid making smaller claims may pay off. You should always negotiate with the insurance company when you are paying high premiums to see how you can find a better price. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-30\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_6-0\" class=\"comp mntl-block\">\n<div id=\"billboard4-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard4-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard4-dynamic_2-0\" class=\"comp billboard4-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard4\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf3\" data-priority=\"6\" data-sizes=\"[[300, 250], [300, 253], [4, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"dbff504a20214a7fac3f54f844e2fd3b\" data-auction-floor-value=\"180\" data-google-query-id=\"COy3keKT0OkCFYyFYgodRskN_g\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard4_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-31\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">If you never make insurance claims and you can afford a higher deductible, then you should consider increasing your deductible. Every year you avoid making a claim, extra money from the higher deductible plan will be in your pocket instead of the insurance company\'s.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-32\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_7-0\" class=\"comp mntl-block\">\n<div id=\"billboard5-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard5-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard5-dynamic_2-0\" class=\"comp js-billboard-lazy billboard5-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard5\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf4\" data-priority=\"7\" data-sizes=\"[[300, 250], [300, 254], [6, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"59d731bfa4d6478abb345da2b89a89bc\" data-auction-floor-value=\"160\" data-google-query-id=\"CNOIrOKT0OkCFcp2YgodwSEAqA\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard5_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">For example, say you take a higher deductible of $1000 to save $100 on your annual insurance costs. After five years, you haven\'t made a claim, and you\'ve saved $500. In addition, five years without claims could also make you eligible for a claims-free discount, saving you even more money on your insurance costs.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-34\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_8-0\" class=\"comp mntl-block\">\n<div id=\"billboard6-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard6-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard6-dynamic_1-0\" class=\"comp js-billboard-lazy billboard6-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard6\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf5\" data-priority=\"8\" data-sizes=\"[[300, 250], [300, 255], [7, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"7dffa7996d214977afbe045cc069d3b1\" data-auction-floor-value=\"175\" data-google-query-id=\"CMWR0eKT0OkCFQbhYgod5I0Acg\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard6_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp theme-experttiptip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-1\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">The reason higher deductibles work better for some than others has to do with individual risks and financial capability. For example, many high-value home insurers have clients with $2,500 to $10,000 deductibles. These deductibles may be high for the average homeowner, but they make a lot of sense for higher valued homes and the relatively wealthier people that own them.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n</div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-36\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How Much Can Raising the Deductible Lower Your Insurance Costs?</span></h2>\n<div id=\"mntl-sc-block_1-0-37\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">You\'re looking to reduce the cost of home insurance, condo insurance, or car insurance, but just how much will a higher deductible impact your insurance costs? </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_9-0\" class=\"comp mntl-block\">\n<div id=\"billboard7-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard7-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard7-dynamic_1-0\" class=\"comp js-billboard-lazy billboard7-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard7\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf6\" data-priority=\"9\" data-sizes=\"[[300, 250], [300, 256], [8, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"975521d71a8b475d82b4221a2e340000\" data-auction-floor-value=\"165\" data-google-query-id=\"CKnL6-KT0OkCFWODfwQdZ_ADew\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard7_0__container__\"><span style=\"font-size: 26px; color: #000000; text-align: left;\"><br />What\'s the Discount for Increasing Your Deductible?</span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-40\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">Depending on how high you increase the deductible, you could expect to save roughly 5% to 10% on your premiums. The more you increase your deductible, the higher the percentage discount becomes.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-41\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-42\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">As an example, you can expect to save between 15% and 30% on your car\'s collision and comprehensive coverage by increasing your deductible from $200 to $500.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-2\">2</span> If you go up to $1,000, you could potentially save 40%<strong>.</strong></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-43\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-44\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">The same logic applies to home insurance. Depending on your insurance company, increasing your deductible from $500 to $1,000 could reduce your insurance costs by up to 25%.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-3\">3</span> Over time, you might save thousands by strategically increasing your insurance deductibles and avoiding small claims.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-45\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-46\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How Much You Can Afford to Increase Your Deductible?</span></h2>\n<div id=\"mntl-sc-block_1-0-47\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Increasing your deductible is just one way to save money on home insurance, car insurance, or any other type of insurance. It\'s a popular option for people looking to save because it\'s the easiest to do <em>right now.</em> However, while you will immediately save money on your premium, increasing your deductible may cost you money in the long-term, if you can\'t afford to make a claim.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-48\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-49\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">If you have set aside an emergency fund specifically for car accidents or similar events, then that makes it easy—the deductible you can afford is the amount of your emergency fund. However, if you have a mixed savings account that includes car accident funds alongside other emergency funds, then it may be more difficult to separate out how much you could afford to pay as a deductible.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-50\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-51\" class=\"comp theme-experttiptip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-2\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">When you insure your home and car through the same insurer, you may be able to pay a single deductible for a claim that affects both. This can save you money.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n</div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-52\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Example of High Deductible Savings Gone Wrong</span></h2>\n<div id=\"mntl-sc-block_1-0-53\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">As an example of how high deductibles can end up costing you more money in the long run, consider this example.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-54\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-55\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">You take a higher deductible of $1,000 and save $100 a year on your insurance costs. You\'re happy because you see it as saving $100 a year. After five years, you haven\'t made a claim, and you\'ve saved a total of $500.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-56\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-57\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">Then, in the sixth year, you have to make a claim. You\'ve saved $500, but that\'s only half of the $1,000 deductible you now have to come up with. Not only are you in the middle of a stressful insurance claim, but you\'re worried about how you\'ll afford to pay the deductible. You might have been better off paying more for the lower deductible plan.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-58\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-59\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Other Ways to Save Money on Your Insurance</span></h2>\n<div id=\"mntl-sc-block_1-0-60\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">If you are still looking for ways to save money on your home insurance, you may want to check out your home insurance coverage options and see if you have the right policy for your needs. Insurance companies actively compete for customers, so it might pay to shop around for your insurance or negotiate with your car insurance or home insurance company.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-61\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-62\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Your Insurance Policy Should Change With Your Needs</span></h2>\n<div id=\"mntl-sc-block_1-0-63\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> <span style=\"font-size: 14px;\">An insurance company that was well suited to your needs five years ago may not be the best company to insure you now.</span></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-64\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-65\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> <span style=\"font-size: 14px;\">Sometimes it\'s worth </span>paying a penalty for canceling<span style=\"font-size: 14px;\"> </span><span style=\"font-size: 14px;\">with one insurance company to get a better insurance deal with a new one. You may only need to call your insurance company and tell them you\'re ready to shop around—they may come up with some new ideas on how to save money so they don\'t lose you as a customer.</span></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-66\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-67\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Learn About Your Deductible Waivers</span></h2>\n<div id=\"mntl-sc-block_1-0-68\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">The deductible waiver on a home insurance or condo insurance policy is a clause that waives the deductible in the event of a large loss.<span style=\"font-size: 14px;\"> </span></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-70\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Every insurance company will take a different approach to whether they offer a deductible waiver, and it may not be easy to tell how it applies to you. Even if your plan includes waivers, it may have been tucked away in some densely worded part of your insurance policy. Better understanding when the deductible waiver will apply may allow you to comfortably sign up for a higher deductible plan. The best way to clear it up is to directly ask your insurance representative if there is a deductible waiver in your insurance policy, and if so, when it kicks in.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-71\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-72\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"> <span style=\"font-size: 14px;\">For example, some policies might have a deductible waiver for losses of over $10,000. Other policies may have a very high threshold before deductible waivers kick in, like</span><span style=\"font-size: 14px;\"> </span>major claims<span style=\"font-size: 14px;\"> </span><span style=\"font-size: 14px;\">or losses over $50,000. If you\'re only insuring yourself for a major loss like a fire, it could make sense to take full advantage of these waivers by seeking a higher deductible.</span></span></p>\n<p><span style=\"font-size: 14px; color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-73\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-74\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span style=\"color: #000000;\"><span class=\"mntl-sc-block-heading__text\">Deductible Waivers on Car Insurance</span> </span></h2>\n<div id=\"mntl-sc-block_1-0-75\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Car insurance policies sell deductible waivers, as well. However, unlike with home insurance plans, deductible waivers generally increase the cost of car insurance. While deductible waivers are nice, you\'ve got to ensure that it doesn\'t come with extra costs that outweigh the benefits.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-76\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<p><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_1-0-77\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Use Your Increased Deductible to Save Money</span></h2>\n<div id=\"mntl-sc-block_1-0-78\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">If you decide you can afford to increase your deductible and save 10% or 40% on insurance, consider putting the savings on insurance costs into an emergency fund bank account. As your savings grow, you can increase your deductible accordingly, and then save even more on insurance.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-79\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-80\" class=\"comp theme-experttipnote mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">If you never have to make a claim and pay that higher deductible, then all that extra money stays in your pocket. On the other hand, if you end up needing to pay your deductible, you\'ve got the money ready. It\'s a win-win for you.</span></p>\n</div>\n</div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-81\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">The Bottom Line</span></h2>\n<div id=\"mntl-sc-block_1-0-82\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">You can save hundreds (if not thousands) of dollars on your insurance by developing a strategy that balances your financial situation with deductible amounts. Ask your insurance representative to assess your insurance choices and recommend some options to save money. </span></p>\n<p>&nbsp;</p>\n</div>\n<p>To read the full article, <a href=\"https://www.thebalance.com/how-to-use-your-insurance-deductible-to-save-money-4075986\" style=\"font-size: 14px; text-align: left;\">click here</a><span style=\"font-size: 14px; text-align: left;\">.</span></p>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Should You Increase Your Insurance Deductible to Save Money?','','inherit','closed','closed','','400-revision-v1','','','2020-05-26 23:52:12','2020-05-26 23:52:12','',400,'http://smartinsurance.tips/400-revision-v1/',0,'revision','',0),(459,1,'2020-05-26 23:56:59','2020-05-26 23:56:59','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">Admitted vs. Non-Admitted Insurance</span></strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\" hover_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\" style=\"text-align: center;\">\n<p style=\"text-align: left;\"><img src=\"https://www.thebalance.com/thmb/8s-_5W4aGoYXCZXDJFb6UugJhUo=/2121x1414/filters:fill(auto,1)/financial-advisor-having-a-meeting-with-clients-1063753064-3ded3bf256b64495a3a127ecce13145f.jpg\" width=\"800\" height=\"533\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><br /><span></span></p>\n</div>\n<div align=\"center\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Most people are insured through their home insurance or other insurance with admitted insurance companies. However, there are also non-admitted insurance options for certain special cases. Insuring yourself with an admitted insurance company vs. a non-admitted insurance provider can have its advantages and disadvantages. Normally you would not end up insured with a non-admitted insurer before your broker, or insurance representative has already checked if you have options with an admitted insurance company. </span></p>\n<p><span style=\"color: #000000;\"><span class=\"mntl-sc-block-adslot mntl-sc-block-adslot-inline\"></span>Here are the basics of understanding what is non-admitted insurance, as well as some advantages.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">What is Non-Admitted Insurance?</span></h2>\n<div id=\"mntl-sc-block_1-0-3\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Non-admitted insurance refers to an insurance company that is not licensed with the state to provide insurance. However, just because the non-admitted insurance carrier is not licensed as an insurance provider in the state (or country), it does not mean it is not allowed to operate in the State. A non-admitted insurance carrier may provide coverage through a state-licensed agency, broker or representative.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">A non-admitted insurer does not have to follow the same criteria in underwriting, rate setting, and coverage as admitted insurance carriers.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Non-admitted insurance is also sometimes referred to as \"Excess and Surplus Insurance\" or \"E&amp;S\" or \"Surplus Lines.\"</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-8\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Where You Find Non-Admitted Insurance</span></h2>\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Non-Admitted insurance can apply to many types of insurance products. Some examples are:</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<ul>\n<ul>\n<li><span style=\"color: #000000;\">Home insurance where an area is considered a high-risk zone (for example where the risks of tornado, hurricanes, and wildfires are high)</span></li>\n<li><span style=\"color: #000000;\">Specialty line insurance, like professional liability insurance, or high-value home insurance</span></li>\n<li><span style=\"color: #000000;\">High-risk insurance like in the case of earthquake insurance</span></li>\n<li><span style=\"color: #000000;\">Insurance for people who do not meet standard underwriting criteria, for example, those with insurability issues, too many claims, or if a standard insurance company cancels a policy and will not renew.</span></li>\n<li><span style=\"color: #000000;\">Insurance for non-US citizens, or certain supplemental health insurance policies like long-term care</span></li>\n</ul>\n</ul>\n<p><span class=\"mntl-sc-block-adslot mntl-sc-block-adslot-inline\" style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Non-admitted insurance is a key component in the insurance industry because it answers the need for specialty insurance coverage and/or higher risk insurance needs. Without non-admitted insurance, many people would be unable to get insurance coverage and may not be able to finance homes or be insured after a string of \"bad luck.\"</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 id=\"mntl-sc-block_1-0-16\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Advantages of Non-Admitted Insurance</span></h2>\n<div id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Since rates are not regulated by the state, insurers do not have to submit their rates. Further, the policy forms and product offering not regulated by the state</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">These insurers can offer coverage options that help states extend coverage in high-risk markets. As an example, this can help with people who need to use Fair Plan Insurance—a state-mandated insurance making coverage available to those living in high-risk areas. Some of this coverage may be with non-admitted insurers or Excess and Surplus carriers.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Because surplus lines insurance products are not subject to rating regulations at the state level, they can have an advantage over admitted insurers because they have the freedom to be more creative and responsive about the types of coverage they offer.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Depending on the situation and type of insurance of the non-admitted insurance product, the rates may be more expensive than a standard insurer\'s rates but may provide insurance coverage that a standard insurer would not be willing to provide.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-24\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Difference Between Admitted vs. Non-Admitted Insurance</span></h2>\n<div id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">The State provides protection to consumers who are insured with admitted insurance if the insurance company is unable to pay it\'s claims or losses, in the case of bankruptcy, for example. The biggest difference between the admitted insurer and the non-admitted insurer is that the non-admitted insurer does not have that financial backing from the State.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 id=\"mntl-sc-block_1-0-28\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Are These Insurers Higher Risk?</span></h2>\n<div id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Non-admitted insurers can set their rates and are not subject to the local regulations on rate issues. It may allow the insurer to collect the appropriate premiums by charging the rate appropriate to the risk, which in turn may help them to be more profitable in general. It may give these non-admitted insurers strong financial stability. You should always check the financial stability of an insurance company, whether admitted or not.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<p><span><span style=\"color: #000000;\">To read the full article,</span> <a href=\"https://www.thebalance.com/what-is-non-admitted-insurance-4571008\">click here</a>.</span></p>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Admitted vs. Non-Admitted Insurance','','inherit','closed','closed','','385-revision-v1','','','2020-05-26 23:56:59','2020-05-26 23:56:59','',385,'http://smartinsurance.tips/385-revision-v1/',0,'revision','',0),(457,1,'2020-05-26 23:56:39','2020-05-26 23:56:39','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">Admitted vs. Non-Admitted Insurance</span></strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\" hover_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\" style=\"text-align: center;\">\n<p style=\"text-align: left;\"><img src=\"https://www.thebalance.com/thmb/8s-_5W4aGoYXCZXDJFb6UugJhUo=/2121x1414/filters:fill(auto,1)/financial-advisor-having-a-meeting-with-clients-1063753064-3ded3bf256b64495a3a127ecce13145f.jpg\" width=\"800\" height=\"533\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><br /><span></span></p>\n</div>\n<div align=\"center\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Most people are insured through their home insurance or other insurance with admitted insurance companies. However, there are also non-admitted insurance options for certain special cases. Insuring yourself with an admitted insurance company vs. a non-admitted insurance provider can have its advantages and disadvantages. Normally you would not end up insured with a non-admitted insurer before your broker, or insurance representative has already checked if you have options with an admitted insurance company. </span></p>\n<p><span style=\"color: #000000;\"><span class=\"mntl-sc-block-adslot mntl-sc-block-adslot-inline\"></span>Here are the basics of understanding what is non-admitted insurance, as well as some advantages.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">What is Non-Admitted Insurance?</span></h2>\n<div id=\"mntl-sc-block_1-0-3\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Non-admitted insurance refers to an insurance company that is not licensed with the state to provide insurance. However, just because the non-admitted insurance carrier is not licensed as an insurance provider in the state (or country), it does not mean it is not allowed to operate in the State. A non-admitted insurance carrier may provide coverage through a state-licensed agency, broker or representative.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">A non-admitted insurer does not have to follow the same criteria in underwriting, rate setting, and coverage as admitted insurance carriers.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Non-admitted insurance is also sometimes referred to as \"Excess and Surplus Insurance\" or \"E&amp;S\" or \"Surplus Lines.\"</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-8\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Where You Find Non-Admitted Insurance</span></h2>\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Non-Admitted insurance can apply to many types of insurance products. Some examples are:</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<ul>\n<ul>\n<li><span style=\"color: #000000;\"><a href=\"https://www.thebalance.com/how-to-choose-best-home-insurance-coverage-4016846\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\" style=\"color: #000000;\">Home insurance</a> where an area is considered a high-risk zone (for example where the risks of <a href=\"https://www.thebalance.com/home-and-car-insurance-for-tornado-damage-4026154\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\" style=\"color: #000000;\">tornado</a>, hurricanes, and <a href=\"https://www.thebalance.com/wildfire-insurance-what-damage-is-covered-by-insurance-4173951\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\" style=\"color: #000000;\">wildfires </a>are high)</span></li>\n<li><span style=\"color: #000000;\">Specialty line insurance, like professional liability insurance, or high-value home insurance</span></li>\n<li><span style=\"color: #000000;\">High-risk insurance like in the case of earthquake insurance</span></li>\n<li><span style=\"color: #000000;\">Insurance for people who do not meet standard underwriting criteria, for example, those with insurability issues, too many claims, or if a standard insurance company cancels a policy and will not renew.</span></li>\n<li><span style=\"color: #000000;\">Insurance for non-US citizens, or certain supplemental health insurance policies like long-term care</span></li>\n</ul>\n</ul>\n<p><span class=\"mntl-sc-block-adslot mntl-sc-block-adslot-inline\" style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Non-admitted insurance is a key component in the insurance industry because it answers the need for specialty insurance coverage and/or higher risk insurance needs. Without non-admitted insurance, many people would be unable to get insurance coverage and may not be able to finance homes or be insured after a string of \"bad luck.\"</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 id=\"mntl-sc-block_1-0-16\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Advantages of Non-Admitted Insurance</span></h2>\n<div id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Since rates are not regulated by the state, insurers do not have to submit their rates. Further, the policy forms and product offering not regulated by the state</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">These insurers can offer coverage options that help states extend coverage in high-risk markets. As an example, this can help with people who need to use <a href=\"https://www.thebalance.com/fair-plan-policies-2645392\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\" style=\"color: #000000;\">Fair Plan Insurance</a>—a state-mandated insurance making coverage available to those living in high-risk areas. Some of this coverage may be with non-admitted insurers or Excess and Surplus carriers.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Because surplus lines insurance products are not subject to rating regulations at the state level, they can have an advantage over admitted insurers because they have the freedom to be more creative and responsive about the types of coverage they offer.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Depending on the situation and type of insurance of the non-admitted insurance product, the rates may be more expensive than a standard insurer\'s rates but may provide insurance coverage that a standard insurer would not be willing to provide.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-24\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Difference Between Admitted vs. Non-Admitted Insurance</span></h2>\n<div id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">The State provides protection to consumers who are insured with admitted insurance if the insurance company is unable to pay it\'s claims or losses, in the case of bankruptcy, for example. The biggest difference between the admitted insurer and the non-admitted insurer is that the non-admitted insurer does not have that financial backing from the State.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 id=\"mntl-sc-block_1-0-28\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Are These Insurers Higher Risk?</span></h2>\n<div id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Non-admitted insurers can set their rates and are not subject to the local regulations on rate issues. It may allow the insurer to collect the appropriate premiums by charging the rate appropriate to the risk, which in turn may help them to be more profitable in general. It may give these non-admitted insurers strong financial stability. You should always check the <a href=\"https://www.thebalance.com/a-m-best-insurance-rating-organization-1969740\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\" style=\"color: #000000;\">financial stability of an insurance company</a>, whether admitted or not.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<p><span><span style=\"color: #000000;\">To read the full article,</span> <a href=\"https://www.thebalance.com/what-is-non-admitted-insurance-4571008\">click here</a>.</span></p>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Admitted vs. Non-Admitted Insurance','','inherit','closed','closed','','385-revision-v1','','','2020-05-26 23:56:39','2020-05-26 23:56:39','',385,'http://smartinsurance.tips/385-revision-v1/',0,'revision','',0),(465,1,'2020-05-27 16:10:47','2020-05-27 16:10:47','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"ArticleHeader-styles-makeit-headline--1DSjp\" style=\"text-align: justify;\"><strong>From the ‘perfect’ salary to keeping up with the Joneses, here’s how money really affects your happiness</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><img src=\"https://image.cnbcfm.com/api/v1/image/106542374-1589819923525twenty20_bdc662c5-992f-4a5f-b087-a71c56499d5b.jpg?v=1589819976\" width=\"799\" height=\"452\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<div class=\"group\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">With record unemployment, pay cuts, a turbulent market and an ever-widening gap between the haves and the have nots, money is at the forefront of people’s minds more than ever. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">But how important is money to happiness?</span></p>\n<div class=\"BoxInline-styles-makeit-container--23sG-  \" style=\"text-align: justify;\">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-styles-makeit-container--23sG-\" data-module=\"mps-slot\"></div>\n</div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The answer is complicated. Research has long looked at how money affects happiness, which in psychology is defined as both emotional well-being, and how satisfied you are with the way your life is going. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Studies have pinpointed the salary that people need for happiness, looked at why money doesn’t make us as happy as we expect and posited the ideal ways to spend your money to be happy. Here’s what you need to know, no matter what you make:</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">There is a sort of perfect ‘happiness’ salary</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">A well-known 2010 study by Princeton researchers Daniel Kahneman and Angus Deaton found that people tend to feel happier the more money they make, up until a point, which Kahneman and Deaton estimated to be about $75,000 a year per person.</span></p>\n<p><span style=\"color: #000000;\">“After that, [happiness] kind of leveled off,” Sonja Lyubomirsky, a professor of psychology at the University of California who studies happiness, tells CNBC Make It.</span></p>\n<p><span style=\"color: #000000;\">People’s emotional well-being, or how they felt on a daily basis, didn’t improve as they made more than $75,000, but their life satisfaction, or how happy they were with their life overall, did.</span></p>\n<div class=\"MidResponsive-styles-makeit-midResponsiveContainer--3l1lB\">\n<div id=\"MidResponsive-3\" class=\"\" data-module=\"mps-slot\"></div>\n</div>\n<p><span style=\"color: #000000;\">But more recently, a 2018 study from Purdue University used much wider data from the Gallup World Poll and found that the ideal income point for individuals is $95,000 for life satisfaction and $60,000 to $75,000 for emotional well-being.</span></p>\n<p><span style=\"color: #000000;\">When people earned more than $105,000, their happiness levels decreased.</span></p>\n<p><span style=\"color: #000000;\">But even a decade later, experts say that the amount of money people need for happiness would still be around the median income for U.S. residents, which is $63,179, according to the most recent U.S. Census data from 2018.</span></p>\n<p><span style=\"color: #000000;\">The idea is that you need money to meet basic needs, such as access to healthcare and a safe place to live, Lyubomirsky says. If you grow up without resources like food, clothing or shelter, then having more money really makes a huge difference in your life and overall well-being. </span></p>\n<p><span style=\"color: #000000;\">“But once you hit that middle class level, there really is no correlation above that,” says Brad Klontz, a financial therapist and psychology professor at Creighton University. This can be challenging to comprehend, because most people operate under the assumption that money will solve all of our problems. </span></p>\n<p><span style=\"color: #000000;\">“At the end of the day, we’re humans and we struggle with existential issues like what’s the meaning of life, and who am I?” Klontz says. “And those sort of questions don’t go away when you get a bunch of money.”</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">With happiness, being rich is relative</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">More money doesn’t make us happier but making “more relative to other people” does, according to Yale psychology professor Laurie Santos, who hosts “The Happiness Lab” podcast.</span></p>\n<p><span style=\"color: #000000;\">“Even the richest folks out there in the world can often look around and find somebody that’s just a teensy, weensy bit richer, and therefore their money is not making them as happy as they think,” she tells CNBC Make It. </span></p>\n<p><span style=\"color: #000000;\">This is because we have an evolutionary tendency to compare ourselves to other people, Klontz says. “We’re very much wired on a survival level to see how we compare and where we stack up next to everybody else.” </span></p>\n<p><span style=\"color: #000000;\">Studies suggest that when we feel like we can’t maintain the same standard of living as our peers, it makes us unhappy.</span></p>\n<p><span style=\"color: #000000;\">“Essentially, how you rate yourself in terms of your subjective well-being, like whether you feel like you’re happy or satisfied or not, is entirely dependent on how you see other people doing around you and what they have.”</span></p>\n<p><span style=\"color: #000000;\">And the reason why simply getting more money doesn’t make us happier is because there is a psychological phenomenon called “hedonic adaptation”: “Over time, we get used to that change in our life and our expectations change and our lifestyle changes — we adapt,” Lyubomirsky says.</span></p>\n<p><span style=\"color: #000000;\">Plus “every time we experience kind of a rise in income, our aspirations and expectations rise a little bit,” she says.</span></p>\n<p><span style=\"color: #000000;\">“It’s really critical to know that this is what’s happening for you subconsciously, so that you can override it,” Klontz says. “Otherwise, you’re going to be really tempted to buy things. Like, when you see your neighbors have a new car, you can have an instant sense of dissatisfaction that you don’t have a new car, and you’re going to be vulnerable to making financial mistakes.”</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Purpose is more important than money to be happy</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Research consistently shows that if you want to be happier in your job, you shouldn’t chase a high salary. From a happiness standpoint, it’s more important that your job provides a sense of meaning or purpose.</span></p>\n<p><span style=\"color: #000000;\">“You should focus on whether the job is meeting what we often call your own signature strengths,” Santos says. “These are your own values that you want to experience in the world.” For example, maybe you find that being creative or teaching other people is rewarding.</span></p>\n<p><span style=\"color: #000000;\">Not only does having meaning make you happier, but studies have shown that you tend to be more productive, too. When you’re engaged in an activity that you find challenging and satisfying, you experience “flow,” or a state of optimal experience, Klontz says.</span></p>\n<p><span style=\"color: #000000;\">In a 2018 survey by BetterUp Labs, nine out of 10 people said they’d trade 23% of their future earnings to have a job with meaning. So why don’t more people switch to lower-paying but more meaningful jobs?</span></p>\n<p><span style=\"color: #000000;\">According to Santos, it’s easy to get caught in “golden handcuffs,” or in other words, when you feel trapped in a job you hate because it’s paying a lot of money.</span></p>\n<p><span style=\"color: #000000;\">“I think a lot of people hate their jobs and their careers, but they do it because they need to pay for their life,” entrepreneur Gary Vaynerchuk tells CNBC Make It. Vaynerchuk came from “humble” beginnings, he says. He and his family immigrated from Belarus in the ’70s and grew up in middle class enclaves like Queens, New York and Edison, New Jersey. </span></p>\n<p><span style=\"color: #000000;\">Although he’s a multimillionaire now, Vaynerchuk says that he wants to “redefine success” as being happy versus making a lot of money. “I have an uncomfortable [number] of friends who make $12 million a year and are unhappy,” he says.</span></p>\n<p><span style=\"color: #000000;\">Luckily, anyone can make their job more meaningful, by “infusing” your own personal strengths into what you do every day, says Santos. If you love to help other people, for example, think about ways that you can lend a hand to others at the office.</span></p>\n<p><span style=\"color: #000000;\">Or if you’re currently between jobs or not sure what your signature strengths are, you may want to spend time writing down what you value in life, she suggests. </span><br /> <span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">You can buy happiness by doing this</span></h2>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"></h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“How you spend your money is really critical to your happiness,” Lyubomirsky says.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">For example, contrary to the “self-care” belief that you should splurge and “treat yourself” to material purchases, buying things won’t make us very happy, Santos says. While it might feel good to shop for nicer or more expensive things, they typically aren’t fulfilling once we get them, she says. This is in part because material purchases hang around, so we get used to them. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">On the other hand, spending money on personal growth, connecting with people and contributing to the community, do contribute to happiness, Lyubomirsky says. Studies also suggest that spending money on experiences makes you happier than items.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“If you spend money in ways that help others, or help you connect with others, whether it’s just like a dinner with friends or traveling, even if it’s not very far and very expensive, that would make you very happy,” she says.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Another surprising way to spend? Buy yourself time. A 2017 study found that when people paid for time-saving services — such as ordering takeout, having your home cleaned and outsourcing someone to run errands — they had higher levels of life satisfaction than when they bought material items. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">At a time when our habits around money and shopping are changing, simply understanding what will make you happy is key. “Being aware of our beliefs around money, and being open to challenging them and shifting them, is going to be more important than ever,” Klontz says.</span></p>\n</div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"> </span></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.cnbc.com/2020/05/26/how-your-salary-and-the-way-you-spend-money-affect-your-happiness.html\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','From the ‘perfect’ salary to keeping up with the Joneses, here’s how money really affects your happiness','','publish','closed','closed','','how-your-salary-and-the-way-you-spend-money-affect-your-happiness','','','2020-05-27 16:16:54','2020-05-27 16:16:54','',0,'http://smartinsurance.tips/?page_id=465',0,'page','',0),(466,1,'2020-05-27 16:10:47','2020-05-27 16:10:47','<!-- wp:divi/placeholder /-->','','','inherit','closed','closed','','465-revision-v1','','','2020-05-27 16:10:47','2020-05-27 16:10:47','',465,'http://smartinsurance.tips/465-revision-v1/',0,'revision','',0),(464,1,'2020-05-27 00:00:42','2020-05-27 00:00:42','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\" min_height=\"675px\" custom_padding=\"0px||0px|||\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"post-header-social__headline rare-headline\" style=\"text-align: center;\"><strong>Liability vs. Full Coverage: Which Auto Insurance Do You Need?</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\" custom_margin=\"|410px||410px|false|false\" custom_padding=\"0px|0px||||\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\" style=\"text-align: justify;\">\n<div class=\"et_post_meta_wrapper\">\n<p><span style=\"color: #000000;\"><img src=\"https://i1.wp.com/clark.com/wp-content/uploads/2020/05/two-angry-men-arguing-over-an-auto-accident.png?resize=875%2C400&amp;ssl=1\" alt=\"two angry men arguing over an auto accident\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p><span style=\"color: #000000;\">If you’re looking to save every penny you can on auto insurance, you may be thinking about dropping full coverage and keeping only liability insurance.</span></p>\n<p><span style=\"color: #000000;\">In this article, we’ll explain the difference between liability and full coverage. And we’ll take a look at when you might consider dropping full coverage to save on your monthly insurance premium.</span></p>\n<h2><span style=\"color: #000000;\"><strong></strong></span></h2>\n<h2><span style=\"color: #000000;\"><strong>Here’s What You Need to Know About Liability vs. Full Coverage</strong></span></h2>\n<p><span style=\"color: #000000;\">When to drop full coverage and keep just liability is a question a lot of people ask. But first, let’s take a look at what each kind of insurance coverage is and what’s offered.</span></p>\n<h3><span style=\"color: #000000;\"><strong></strong></span></h3>\n<h3><span style=\"color: #000000;\"><strong>Table of Contents</strong></span></h3>\n<ul>\n<li><strong><a href=\"https://clark.com/insurance/liability-vs-full-coverage/#liability\">What Is Liability Insurance?</a></strong></li>\n<li><strong><a href=\"https://clark.com/insurance/liability-vs-full-coverage/#fullcoverage\">What Is Full Coverage?</a></strong></li>\n<li><strong><a href=\"https://clark.com/insurance/liability-vs-full-coverage/#drop\">When Should You Drop Full Coverage on Your Car?</a></strong><strong></strong></li>\n</ul>\n<h2><strong></strong></h2>\n<h2><span style=\"color: #000000;\"><strong></strong></span></h2>\n<h2 id=\"liability\"><span style=\"color: #000000;\"><strong>What Is Liability Insurance?</strong></span></h2>\n<p><span style=\"color: #000000;\">Liability insurance covers those instances in which you’re the responsible party for an accident. It’s comprised of two types of coverage:</span></p>\n<ul>\n<li><span style=\"color: #000000;\">Bodily injury liability</span></li>\n<li><span style=\"color: #000000;\">Property damage liability</span></li>\n</ul>\n<p><span style=\"color: #000000;\">The first covers medical expenses if you injure someone with your vehicle. The second covers costs if you damage someone else’s vehicle or property while you’re behind the wheel.</span></p>\n<div class=\"code-block code-block-2\"></div>\n<p><span style=\"color: #000000;\">Each state has a required minimum of liability insurance you must carry, often called the state minimum. You can see your state’s minimum </span><a href=\"https://www.carinsurance.com/Articles/minimum-liability-car-insurance-requirements-by-state.aspx\">here</a>.</p>\n<p><span style=\"color: #000000;\">But keep this in mind: State minimums are generally enough to protect you only if you have very few financial assets. For example, maybe you don’t own a home and you have no investments or savings. Then for you, just having state minimum liability coverage might make sense.</span></p>\n<p><span style=\"color: #000000;\">For everyone else, you’ll want additional coverage!</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 id=\"fullcoverage\"><span style=\"color: #000000;\"><strong>What Is Full Coverage?</strong></span></h2>\n<p><span style=\"color: #000000;\">Full coverage is comprised of two types of coverage:</span></p>\n<ul>\n<li><span style=\"color: #000000;\">Collision insurance</span></li>\n<li><span style=\"color: #000000;\">Comprehensive insurance</span></li>\n</ul>\n<p><span style=\"color: #000000;\">Collision insurance is just what its name suggests: It protects you when you’re behind the wheel and cause damage through a collision with another vehicle.</span></p>\n<div class=\"code-block code-block-33\">\n<div class=\"in-content-ad-container\">\n<div class=\"in-content-ad\">\n<div class=\"full-ad__text\"></div>\n</div>\n</div>\n</div>\n<p><span style=\"color: #000000;\">Comprehensive insurance protects you if your vehicle is damaged when you’re <em>not</em> driving it. For example, a tree could fall on your car while it’s parked, or someone could steal your ride out of your driveway. That’s why it’s called “comprehensive.”</span></p>\n<p><a href=\"https://clark.com/about-clark/clark-howards-bio/\">Money expert Clark Howard</a><span> </span><span style=\"color: #000000;\">says the value of your vehicle often drives the decision of whether or not you want full coverage.</span></p>\n<p><span style=\"color: #000000;\">“If you own a vehicle that’s still worth a significant amount of money, you absolutely want comprehensive coverage,” Clark says.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 id=\"drop\"><span style=\"color: #000000;\"><strong>When Should You Drop Full Coverage on Your Car?</strong></span></h2>\n<p><span style=\"color: #000000;\">When to drop comprehensive and collision coverage on your vehicle and just keep liability insurance depends largely on the age of your vehicle.</span></p>\n<blockquote>\n<p><span style=\"color: #000000;\">“When cars get about 8 years old or older, that’s the time to start looking at the math for the collision and comprehensive,” Clark says. “At some point, it becomes wiser to just become your own insurance company.”</span></p>\n</blockquote>\n<p><span style=\"color: #000000;\">The general rule is: If the cost of comprehensive and collision exceeds 10% of your vehicle’s value, that’s the time to dump it and just have liability coverage. You can determine your vehicle’s value at </span><a class=\"thirstylink\" href=\"https://clark.com/go/cars/edmunds/\" target=\"_blank\" rel=\"noindex noopener noreferrer\" data-linkid=\"126831\" data-nojs=\"false\">Edmunds.com</a>,<span> </span><a href=\"https://www.kbb.com/\" target=\"_blank\" rel=\"noopener noreferrer\">KBB.com</a><span> </span><span style=\"color: #000000;\">or</span><span> </span><a href=\"https://www.nada.com/\" target=\"_blank\" rel=\"noopener noreferrer\">NADA.com.</a></p>\n<p><span style=\"color: #000000;\">Let’s say you have a 10-year-old vehicle that’s worth only $4,000. The minute that you’re paying north of $400 annually — that’s 10% of $4,000 — for collision and comprehensive, it no longer makes financial sense.</span></p>\n<p><span style=\"color: #000000;\">One notable exception to this rule: If there’s no way you could financially cover the loss of your vehicle, forget the math and keep paying for collision and comprehensive.</span></p>\n<h2><span style=\"color: #000000;\"><strong></strong></span></h2>\n<h2><span style=\"color: #000000;\"><strong>Final Thought</strong></span></h2>\n<p><span style=\"color: #000000;\">If you have an older vehicle, it often doesn’t make sense to carry full coverage on it. That’s because, if you have an accident, the car has so little value that you’re not going to get a big, fat check to replace it. Depending on the vehicle’s age and condition, you may be lucky to get a few hundred or even a thousand dollars.</span></p>\n<p><span style=\"color: #000000;\">Of course, there’s an exception to every rule. Let’s say you remove your collision and comprehensive and just a few weeks later you total your car.</span></p>\n<div class=\"code-block code-block-5\"></div>\n<p><span style=\"color: #000000;\">“In that scenario, my advice would prove to be rotten, because you’ll be liable for the expenses on your own,” Clark says. “Statistically it’s unlikely, but it happens.”</span></p>\n<p><span style=\"color: #000000;\">You can read the full article <a href=\"https://clark.com/insurance/liability-vs-full-coverage/\">here</a>.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div class=\"entry-content\">\n<div class=\"pf-content\"></div>\n</div>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Liability vs. Full Coverage: Which Auto Insurance Do You Need?','','inherit','closed','closed','','355-revision-v1','','','2020-05-27 00:00:42','2020-05-27 00:00:42','',355,'http://smartinsurance.tips/355-revision-v1/',0,'revision','',0),(468,1,'2020-05-27 16:13:03','2020-05-27 16:13:03','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>5 Things You Shouldn\'t Do During a Recession</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<div class=\"group\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">With record unemployment, pay cuts, a turbulent market and an ever-widening gap between the haves and the have nots, money is at the forefront of people’s minds more than ever. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">But how important is money to happiness?</span></p>\n<div class=\"BoxInline-styles-makeit-container--23sG-  \" style=\"text-align: justify;\">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-styles-makeit-container--23sG-\" data-module=\"mps-slot\"></div>\n</div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The answer is complicated. Research has long looked at how money affects happiness, which in psychology is defined as both emotional well-being, and how satisfied you are with the way your life is going. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Studies have pinpointed the salary that people need for happiness, looked at why money doesn’t make us as happy as we expect and posited the ideal ways to spend your money to be happy. Here’s what you need to know, no matter what you make:<br /><br /></span></p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">There is a sort of perfect ‘happiness’ salary</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">A well-known 2010 study by Princeton researchers Daniel Kahneman and Angus Deaton found that people tend to feel happier the more money they make, up until a point, which Kahneman and Deaton estimated to be about $75,000 a year per person.</span></p>\n<p><span style=\"color: #000000;\">“After that, [happiness] kind of leveled off,” Sonja Lyubomirsky, a professor of psychology at the University of California who studies happiness, tells CNBC Make It.</span></p>\n<p><span style=\"color: #000000;\">People’s emotional well-being, or how they felt on a daily basis, didn’t improve as they made more than $75,000, but their life satisfaction, or how happy they were with their life overall, did.</span></p>\n<div class=\"MidResponsive-styles-makeit-midResponsiveContainer--3l1lB\">\n<div id=\"MidResponsive-3\" class=\"\" data-module=\"mps-slot\"></div>\n</div>\n<p><span style=\"color: #000000;\">But more recently, a 2018 study from Purdue University used much wider data from the Gallup World Poll and found that the ideal income point for individuals is $95,000 for life satisfaction and $60,000 to $75,000 for emotional well-being.</span></p>\n<p><span style=\"color: #000000;\">When people earned more than $105,000, their happiness levels decreased.</span></p>\n<p><span style=\"color: #000000;\">But even a decade later, experts say that the amount of money people need for happiness would still be around the median income for U.S. residents, which is $63,179, according to the most recent U.S. Census data from 2018.</span></p>\n<p><span style=\"color: #000000;\">The idea is that you need money to meet basic needs, such as access to healthcare and a safe place to live, Lyubomirsky says. If you grow up without resources like food, clothing or shelter, then having more money really makes a huge difference in your life and overall well-being. </span></p>\n<p><span style=\"color: #000000;\">“But once you hit that middle class level, there really is no correlation above that,” says Brad Klontz, a financial therapist and psychology professor at Creighton University. This can be challenging to comprehend, because most people operate under the assumption that money will solve all of our problems. </span></p>\n<p><span style=\"color: #000000;\">“At the end of the day, we’re humans and we struggle with existential issues like what’s the meaning of life, and who am I?” Klontz says. “And those sort of questions don’t go away when you get a bunch of money.”<br /><br /></span></p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">With happiness, being rich is relative</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">More money doesn’t make us happier but making “more relative to other people” does, according to Yale psychology professor Laurie Santos, who hosts “The Happiness Lab” podcast.</span></p>\n<p><span style=\"color: #000000;\">“Even the richest folks out there in the world can often look around and find somebody that’s just a teensy, weensy bit richer, and therefore their money is not making them as happy as they think,” she tells CNBC Make It. </span></p>\n<p><span style=\"color: #000000;\">This is because we have an evolutionary tendency to compare ourselves to other people, Klontz says. “We’re very much wired on a survival level to see how we compare and where we stack up next to everybody else.” </span></p>\n<p><span style=\"color: #000000;\">Studies suggest that when we feel like we can’t maintain the same standard of living as our peers, it makes us unhappy.</span></p>\n<p><span style=\"color: #000000;\">“Essentially, how you rate yourself in terms of your subjective well-being, like whether you feel like you’re happy or satisfied or not, is entirely dependent on how you see other people doing around you and what they have.”</span></p>\n<p><span style=\"color: #000000;\">And the reason why simply getting more money doesn’t make us happier is because there is a psychological phenomenon called “hedonic adaptation”: “Over time, we get used to that change in our life and our expectations change and our lifestyle changes — we adapt,” Lyubomirsky says.</span></p>\n<p><span style=\"color: #000000;\">Plus “every time we experience kind of a rise in income, our aspirations and expectations rise a little bit,” she says.</span></p>\n<p><span style=\"color: #000000;\">“It’s really critical to know that this is what’s happening for you subconsciously, so that you can override it,” Klontz says. “Otherwise, you’re going to be really tempted to buy things. Like, when you see your neighbors have a new car, you can have an instant sense of dissatisfaction that you don’t have a new car, and you’re going to be vulnerable to making financial mistakes.”<br /><br /></span></p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Purpose is more important than money to be happy</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Research consistently shows that if you want to be happier in your job, you shouldn’t chase a high salary. From a happiness standpoint, it’s more important that your job provides a sense of meaning or purpose.</span></p>\n<p><span style=\"color: #000000;\">“You should focus on whether the job is meeting what we often call your own signature strengths,” Santos says. “These are your own values that you want to experience in the world.” For example, maybe you find that being creative or teaching other people is rewarding.</span></p>\n<p><span style=\"color: #000000;\">Not only does having meaning make you happier, but studies have shown that you tend to be more productive, too. When you’re engaged in an activity that you find challenging and satisfying, you experience “flow,” or a state of optimal experience, Klontz says.</span></p>\n<p><span style=\"color: #000000;\">In a 2018 survey by BetterUp Labs, nine out of 10 people said they’d trade 23% of their future earnings to have a job with meaning. So why don’t more people switch to lower-paying but more meaningful jobs?</span></p>\n<p><span style=\"color: #000000;\">According to Santos, it’s easy to get caught in “golden handcuffs,” or in other words, when you feel trapped in a job you hate because it’s paying a lot of money.</span></p>\n<p><span style=\"color: #000000;\">“I think a lot of people hate their jobs and their careers, but they do it because they need to pay for their life,” entrepreneur Gary Vaynerchuk tells CNBC Make It. Vaynerchuk came from “humble” beginnings, he says. He and his family immigrated from Belarus in the ’70s and grew up in middle class enclaves like Queens, New York and Edison, New Jersey. </span></p>\n<p><span style=\"color: #000000;\">Although he’s a multimillionaire now, Vaynerchuk says that he wants to “redefine success” as being happy versus making a lot of money. “I have an uncomfortable [number] of friends who make $12 million a year and are unhappy,” he says.</span></p>\n<p><span style=\"color: #000000;\">Luckily, anyone can make their job more meaningful, by “infusing” your own personal strengths into what you do every day, says Santos. If you love to help other people, for example, think about ways that you can lend a hand to others at the office.</span></p>\n<p><span style=\"color: #000000;\">Or if you’re currently between jobs or not sure what your signature strengths are, you may want to spend time writing down what you value in life, she suggests. </span><br /><span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">You can buy happiness by doing this</span></h2>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"> </h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“How you spend your money is really critical to your happiness,” Lyubomirsky says.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">For example, contrary to the “self-care” belief that you should splurge and “treat yourself” to material purchases, buying things won’t make us very happy, Santos says. While it might feel good to shop for nicer or more expensive things, they typically aren’t fulfilling once we get them, she says. This is in part because material purchases hang around, so we get used to them. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">On the other hand, spending money on personal growth, connecting with people and contributing to the community, do contribute to happiness, Lyubomirsky says. Studies also suggest that spending money on experiences makes you happier than items.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“If you spend money in ways that help others, or help you connect with others, whether it’s just like a dinner with friends or traveling, even if it’s not very far and very expensive, that would make you very happy,” she says.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Another surprising way to spend? Buy yourself time. A 2017 study found that when people paid for time-saving services — such as ordering takeout, having your home cleaned and outsourcing someone to run errands — they had higher levels of life satisfaction than when they bought material items. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">At a time when our habits around money and shopping are changing, simply understanding what will make you happy is key. “Being aware of our beliefs around money, and being open to challenging them and shifting them, is going to be more important than ever,” Klontz says.</span></p>\n</div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"> </span></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.cnbc.com/2020/05/26/how-your-salary-and-the-way-you-spend-money-affect-your-happiness.html\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','465-revision-v1','','','2020-05-27 16:13:03','2020-05-27 16:13:03','',465,'http://smartinsurance.tips/465-revision-v1/',0,'revision','',0),(470,1,'2020-05-27 16:15:23','2020-05-27 16:15:23','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>5 Things You Shouldn\'t Do During a Recession</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><img src=\"https://image.cnbcfm.com/api/v1/image/106542374-1589819923525twenty20_bdc662c5-992f-4a5f-b087-a71c56499d5b.jpg?v=1589819976\" width=\"799\" height=\"452\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<div class=\"group\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">With record unemployment, pay cuts, a turbulent market and an ever-widening gap between the haves and the have nots, money is at the forefront of people’s minds more than ever. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">But how important is money to happiness?</span></p>\n<div class=\"BoxInline-styles-makeit-container--23sG-  \" style=\"text-align: justify;\">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-styles-makeit-container--23sG-\" data-module=\"mps-slot\"></div>\n</div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The answer is complicated. Research has long looked at how money affects happiness, which in psychology is defined as both emotional well-being, and how satisfied you are with the way your life is going. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Studies have pinpointed the salary that people need for happiness, looked at why money doesn’t make us as happy as we expect and posited the ideal ways to spend your money to be happy. Here’s what you need to know, no matter what you make:</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">There is a sort of perfect ‘happiness’ salary</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">A well-known 2010 study by Princeton researchers Daniel Kahneman and Angus Deaton found that people tend to feel happier the more money they make, up until a point, which Kahneman and Deaton estimated to be about $75,000 a year per person.</span></p>\n<p><span style=\"color: #000000;\">“After that, [happiness] kind of leveled off,” Sonja Lyubomirsky, a professor of psychology at the University of California who studies happiness, tells CNBC Make It.</span></p>\n<p><span style=\"color: #000000;\">People’s emotional well-being, or how they felt on a daily basis, didn’t improve as they made more than $75,000, but their life satisfaction, or how happy they were with their life overall, did.</span></p>\n<div class=\"MidResponsive-styles-makeit-midResponsiveContainer--3l1lB\">\n<div id=\"MidResponsive-3\" class=\"\" data-module=\"mps-slot\"></div>\n</div>\n<p><span style=\"color: #000000;\">But more recently, a 2018 study from Purdue University used much wider data from the Gallup World Poll and found that the ideal income point for individuals is $95,000 for life satisfaction and $60,000 to $75,000 for emotional well-being.</span></p>\n<p><span style=\"color: #000000;\">When people earned more than $105,000, their happiness levels decreased.</span></p>\n<p><span style=\"color: #000000;\">But even a decade later, experts say that the amount of money people need for happiness would still be around the median income for U.S. residents, which is $63,179, according to the most recent U.S. Census data from 2018.</span></p>\n<p><span style=\"color: #000000;\">The idea is that you need money to meet basic needs, such as access to healthcare and a safe place to live, Lyubomirsky says. If you grow up without resources like food, clothing or shelter, then having more money really makes a huge difference in your life and overall well-being. </span></p>\n<p><span style=\"color: #000000;\">“But once you hit that middle class level, there really is no correlation above that,” says Brad Klontz, a financial therapist and psychology professor at Creighton University. This can be challenging to comprehend, because most people operate under the assumption that money will solve all of our problems. </span></p>\n<p><span style=\"color: #000000;\">“At the end of the day, we’re humans and we struggle with existential issues like what’s the meaning of life, and who am I?” Klontz says. “And those sort of questions don’t go away when you get a bunch of money.”</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">With happiness, being rich is relative</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">More money doesn’t make us happier but making “more relative to other people” does, according to Yale psychology professor Laurie Santos, who hosts “The Happiness Lab” podcast.</span></p>\n<p><span style=\"color: #000000;\">“Even the richest folks out there in the world can often look around and find somebody that’s just a teensy, weensy bit richer, and therefore their money is not making them as happy as they think,” she tells CNBC Make It. </span></p>\n<p><span style=\"color: #000000;\">This is because we have an evolutionary tendency to compare ourselves to other people, Klontz says. “We’re very much wired on a survival level to see how we compare and where we stack up next to everybody else.” </span></p>\n<p><span style=\"color: #000000;\">Studies suggest that when we feel like we can’t maintain the same standard of living as our peers, it makes us unhappy.</span></p>\n<p><span style=\"color: #000000;\">“Essentially, how you rate yourself in terms of your subjective well-being, like whether you feel like you’re happy or satisfied or not, is entirely dependent on how you see other people doing around you and what they have.”</span></p>\n<p><span style=\"color: #000000;\">And the reason why simply getting more money doesn’t make us happier is because there is a psychological phenomenon called “hedonic adaptation”: “Over time, we get used to that change in our life and our expectations change and our lifestyle changes — we adapt,” Lyubomirsky says.</span></p>\n<p><span style=\"color: #000000;\">Plus “every time we experience kind of a rise in income, our aspirations and expectations rise a little bit,” she says.</span></p>\n<p><span style=\"color: #000000;\">“It’s really critical to know that this is what’s happening for you subconsciously, so that you can override it,” Klontz says. “Otherwise, you’re going to be really tempted to buy things. Like, when you see your neighbors have a new car, you can have an instant sense of dissatisfaction that you don’t have a new car, and you’re going to be vulnerable to making financial mistakes.”</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Purpose is more important than money to be happy</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Research consistently shows that if you want to be happier in your job, you shouldn’t chase a high salary. From a happiness standpoint, it’s more important that your job provides a sense of meaning or purpose.</span></p>\n<p><span style=\"color: #000000;\">“You should focus on whether the job is meeting what we often call your own signature strengths,” Santos says. “These are your own values that you want to experience in the world.” For example, maybe you find that being creative or teaching other people is rewarding.</span></p>\n<p><span style=\"color: #000000;\">Not only does having meaning make you happier, but studies have shown that you tend to be more productive, too. When you’re engaged in an activity that you find challenging and satisfying, you experience “flow,” or a state of optimal experience, Klontz says.</span></p>\n<p><span style=\"color: #000000;\">In a 2018 survey by BetterUp Labs, nine out of 10 people said they’d trade 23% of their future earnings to have a job with meaning. So why don’t more people switch to lower-paying but more meaningful jobs?</span></p>\n<p><span style=\"color: #000000;\">According to Santos, it’s easy to get caught in “golden handcuffs,” or in other words, when you feel trapped in a job you hate because it’s paying a lot of money.</span></p>\n<p><span style=\"color: #000000;\">“I think a lot of people hate their jobs and their careers, but they do it because they need to pay for their life,” entrepreneur Gary Vaynerchuk tells CNBC Make It. Vaynerchuk came from “humble” beginnings, he says. He and his family immigrated from Belarus in the ’70s and grew up in middle class enclaves like Queens, New York and Edison, New Jersey. </span></p>\n<p><span style=\"color: #000000;\">Although he’s a multimillionaire now, Vaynerchuk says that he wants to “redefine success” as being happy versus making a lot of money. “I have an uncomfortable [number] of friends who make $12 million a year and are unhappy,” he says.</span></p>\n<p><span style=\"color: #000000;\">Luckily, anyone can make their job more meaningful, by “infusing” your own personal strengths into what you do every day, says Santos. If you love to help other people, for example, think about ways that you can lend a hand to others at the office.</span></p>\n<p><span style=\"color: #000000;\">Or if you’re currently between jobs or not sure what your signature strengths are, you may want to spend time writing down what you value in life, she suggests. </span><br /> <span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">You can buy happiness by doing this</span></h2>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"></h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“How you spend your money is really critical to your happiness,” Lyubomirsky says.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">For example, contrary to the “self-care” belief that you should splurge and “treat yourself” to material purchases, buying things won’t make us very happy, Santos says. While it might feel good to shop for nicer or more expensive things, they typically aren’t fulfilling once we get them, she says. This is in part because material purchases hang around, so we get used to them. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">On the other hand, spending money on personal growth, connecting with people and contributing to the community, do contribute to happiness, Lyubomirsky says. Studies also suggest that spending money on experiences makes you happier than items.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“If you spend money in ways that help others, or help you connect with others, whether it’s just like a dinner with friends or traveling, even if it’s not very far and very expensive, that would make you very happy,” she says.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Another surprising way to spend? Buy yourself time. A 2017 study found that when people paid for time-saving services — such as ordering takeout, having your home cleaned and outsourcing someone to run errands — they had higher levels of life satisfaction than when they bought material items. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">At a time when our habits around money and shopping are changing, simply understanding what will make you happy is key. “Being aware of our beliefs around money, and being open to challenging them and shifting them, is going to be more important than ever,” Klontz says.</span></p>\n</div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"> </span></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.cnbc.com/2020/05/26/how-your-salary-and-the-way-you-spend-money-affect-your-happiness.html\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','465-revision-v1','','','2020-05-27 16:15:23','2020-05-27 16:15:23','',465,'http://smartinsurance.tips/465-revision-v1/',0,'revision','',0),(473,1,'2020-05-27 16:16:25','2020-05-27 16:16:25','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"ArticleHeader-styles-makeit-headline--1DSjp\" style=\"text-align: justify;\"><strong>From the ‘perfect’ salary to keeping up with the Joneses, here’s how money really affects your happiness</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><img src=\"https://image.cnbcfm.com/api/v1/image/106542374-1589819923525twenty20_bdc662c5-992f-4a5f-b087-a71c56499d5b.jpg?v=1589819976\" width=\"799\" height=\"452\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<div class=\"group\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">With record unemployment, pay cuts, a turbulent market and an ever-widening gap between the haves and the have nots, money is at the forefront of people’s minds more than ever. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">But how important is money to happiness?</span></p>\n<div class=\"BoxInline-styles-makeit-container--23sG-  \" style=\"text-align: justify;\">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-styles-makeit-container--23sG-\" data-module=\"mps-slot\"></div>\n</div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The answer is complicated. Research has long looked at how money affects happiness, which in psychology is defined as both emotional well-being, and how satisfied you are with the way your life is going. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Studies have pinpointed the salary that people need for happiness, looked at why money doesn’t make us as happy as we expect and posited the ideal ways to spend your money to be happy. Here’s what you need to know, no matter what you make:</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">There is a sort of perfect ‘happiness’ salary</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">A well-known 2010 study by Princeton researchers Daniel Kahneman and Angus Deaton found that people tend to feel happier the more money they make, up until a point, which Kahneman and Deaton estimated to be about $75,000 a year per person.</span></p>\n<p><span style=\"color: #000000;\">“After that, [happiness] kind of leveled off,” Sonja Lyubomirsky, a professor of psychology at the University of California who studies happiness, tells CNBC Make It.</span></p>\n<p><span style=\"color: #000000;\">People’s emotional well-being, or how they felt on a daily basis, didn’t improve as they made more than $75,000, but their life satisfaction, or how happy they were with their life overall, did.</span></p>\n<div class=\"MidResponsive-styles-makeit-midResponsiveContainer--3l1lB\">\n<div id=\"MidResponsive-3\" class=\"\" data-module=\"mps-slot\"></div>\n</div>\n<p><span style=\"color: #000000;\">But more recently, a 2018 study from Purdue University used much wider data from the Gallup World Poll and found that the ideal income point for individuals is $95,000 for life satisfaction and $60,000 to $75,000 for emotional well-being.</span></p>\n<p><span style=\"color: #000000;\">When people earned more than $105,000, their happiness levels decreased.</span></p>\n<p><span style=\"color: #000000;\">But even a decade later, experts say that the amount of money people need for happiness would still be around the median income for U.S. residents, which is $63,179, according to the most recent U.S. Census data from 2018.</span></p>\n<p><span style=\"color: #000000;\">The idea is that you need money to meet basic needs, such as access to healthcare and a safe place to live, Lyubomirsky says. If you grow up without resources like food, clothing or shelter, then having more money really makes a huge difference in your life and overall well-being. </span></p>\n<p><span style=\"color: #000000;\">“But once you hit that middle class level, there really is no correlation above that,” says Brad Klontz, a financial therapist and psychology professor at Creighton University. This can be challenging to comprehend, because most people operate under the assumption that money will solve all of our problems. </span></p>\n<p><span style=\"color: #000000;\">“At the end of the day, we’re humans and we struggle with existential issues like what’s the meaning of life, and who am I?” Klontz says. “And those sort of questions don’t go away when you get a bunch of money.”</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">With happiness, being rich is relative</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">More money doesn’t make us happier but making “more relative to other people” does, according to Yale psychology professor Laurie Santos, who hosts “The Happiness Lab” podcast.</span></p>\n<p><span style=\"color: #000000;\">“Even the richest folks out there in the world can often look around and find somebody that’s just a teensy, weensy bit richer, and therefore their money is not making them as happy as they think,” she tells CNBC Make It. </span></p>\n<p><span style=\"color: #000000;\">This is because we have an evolutionary tendency to compare ourselves to other people, Klontz says. “We’re very much wired on a survival level to see how we compare and where we stack up next to everybody else.” </span></p>\n<p><span style=\"color: #000000;\">Studies suggest that when we feel like we can’t maintain the same standard of living as our peers, it makes us unhappy.</span></p>\n<p><span style=\"color: #000000;\">“Essentially, how you rate yourself in terms of your subjective well-being, like whether you feel like you’re happy or satisfied or not, is entirely dependent on how you see other people doing around you and what they have.”</span></p>\n<p><span style=\"color: #000000;\">And the reason why simply getting more money doesn’t make us happier is because there is a psychological phenomenon called “hedonic adaptation”: “Over time, we get used to that change in our life and our expectations change and our lifestyle changes — we adapt,” Lyubomirsky says.</span></p>\n<p><span style=\"color: #000000;\">Plus “every time we experience kind of a rise in income, our aspirations and expectations rise a little bit,” she says.</span></p>\n<p><span style=\"color: #000000;\">“It’s really critical to know that this is what’s happening for you subconsciously, so that you can override it,” Klontz says. “Otherwise, you’re going to be really tempted to buy things. Like, when you see your neighbors have a new car, you can have an instant sense of dissatisfaction that you don’t have a new car, and you’re going to be vulnerable to making financial mistakes.”</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Purpose is more important than money to be happy</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Research consistently shows that if you want to be happier in your job, you shouldn’t chase a high salary. From a happiness standpoint, it’s more important that your job provides a sense of meaning or purpose.</span></p>\n<p><span style=\"color: #000000;\">“You should focus on whether the job is meeting what we often call your own signature strengths,” Santos says. “These are your own values that you want to experience in the world.” For example, maybe you find that being creative or teaching other people is rewarding.</span></p>\n<p><span style=\"color: #000000;\">Not only does having meaning make you happier, but studies have shown that you tend to be more productive, too. When you’re engaged in an activity that you find challenging and satisfying, you experience “flow,” or a state of optimal experience, Klontz says.</span></p>\n<p><span style=\"color: #000000;\">In a 2018 survey by BetterUp Labs, nine out of 10 people said they’d trade 23% of their future earnings to have a job with meaning. So why don’t more people switch to lower-paying but more meaningful jobs?</span></p>\n<p><span style=\"color: #000000;\">According to Santos, it’s easy to get caught in “golden handcuffs,” or in other words, when you feel trapped in a job you hate because it’s paying a lot of money.</span></p>\n<p><span style=\"color: #000000;\">“I think a lot of people hate their jobs and their careers, but they do it because they need to pay for their life,” entrepreneur Gary Vaynerchuk tells CNBC Make It. Vaynerchuk came from “humble” beginnings, he says. He and his family immigrated from Belarus in the ’70s and grew up in middle class enclaves like Queens, New York and Edison, New Jersey. </span></p>\n<p><span style=\"color: #000000;\">Although he’s a multimillionaire now, Vaynerchuk says that he wants to “redefine success” as being happy versus making a lot of money. “I have an uncomfortable [number] of friends who make $12 million a year and are unhappy,” he says.</span></p>\n<p><span style=\"color: #000000;\">Luckily, anyone can make their job more meaningful, by “infusing” your own personal strengths into what you do every day, says Santos. If you love to help other people, for example, think about ways that you can lend a hand to others at the office.</span></p>\n<p><span style=\"color: #000000;\">Or if you’re currently between jobs or not sure what your signature strengths are, you may want to spend time writing down what you value in life, she suggests. </span><br /> <span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">You can buy happiness by doing this</span></h2>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"></h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“How you spend your money is really critical to your happiness,” Lyubomirsky says.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">For example, contrary to the “self-care” belief that you should splurge and “treat yourself” to material purchases, buying things won’t make us very happy, Santos says. While it might feel good to shop for nicer or more expensive things, they typically aren’t fulfilling once we get them, she says. This is in part because material purchases hang around, so we get used to them. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">On the other hand, spending money on personal growth, connecting with people and contributing to the community, do contribute to happiness, Lyubomirsky says. Studies also suggest that spending money on experiences makes you happier than items.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“If you spend money in ways that help others, or help you connect with others, whether it’s just like a dinner with friends or traveling, even if it’s not very far and very expensive, that would make you very happy,” she says.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Another surprising way to spend? Buy yourself time. A 2017 study found that when people paid for time-saving services — such as ordering takeout, having your home cleaned and outsourcing someone to run errands — they had higher levels of life satisfaction than when they bought material items. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">At a time when our habits around money and shopping are changing, simply understanding what will make you happy is key. “Being aware of our beliefs around money, and being open to challenging them and shifting them, is going to be more important than ever,” Klontz says.</span></p>\n</div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"> </span></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.cnbc.com/2020/05/26/how-your-salary-and-the-way-you-spend-money-affect-your-happiness.html\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','','','inherit','closed','closed','','465-revision-v1','','','2020-05-27 16:16:25','2020-05-27 16:16:25','',465,'http://smartinsurance.tips/465-revision-v1/',0,'revision','',0),(472,1,'2020-05-27 16:16:15','2020-05-27 16:16:15','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"ArticleHeader-styles-makeit-headline--1DSjp\" style=\"text-align: justify;\"><strong>From the ‘perfect’ salary to keeping up with the Joneses, here’s how money really affects your happiness</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><img src=\"https://image.cnbcfm.com/api/v1/image/106542374-1589819923525twenty20_bdc662c5-992f-4a5f-b087-a71c56499d5b.jpg?v=1589819976\" width=\"799\" height=\"452\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<div class=\"group\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">With record unemployment, pay cuts, a turbulent market and an ever-widening gap between the haves and the have nots, money is at the forefront of people’s minds more than ever. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">But how important is money to happiness?</span></p>\n<div class=\"BoxInline-styles-makeit-container--23sG-  \" style=\"text-align: justify;\">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-styles-makeit-container--23sG-\" data-module=\"mps-slot\"></div>\n</div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The answer is complicated. Research has long looked at how money affects happiness, which in psychology is defined as both emotional well-being, and how satisfied you are with the way your life is going. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Studies have pinpointed the salary that people need for happiness, looked at why money doesn’t make us as happy as we expect and posited the ideal ways to spend your money to be happy. Here’s what you need to know, no matter what you make:</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">There is a sort of perfect ‘happiness’ salary</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">A well-known 2010 study by Princeton researchers Daniel Kahneman and Angus Deaton found that people tend to feel happier the more money they make, up until a point, which Kahneman and Deaton estimated to be about $75,000 a year per person.</span></p>\n<p><span style=\"color: #000000;\">“After that, [happiness] kind of leveled off,” Sonja Lyubomirsky, a professor of psychology at the University of California who studies happiness, tells CNBC Make It.</span></p>\n<p><span style=\"color: #000000;\">People’s emotional well-being, or how they felt on a daily basis, didn’t improve as they made more than $75,000, but their life satisfaction, or how happy they were with their life overall, did.</span></p>\n<div class=\"MidResponsive-styles-makeit-midResponsiveContainer--3l1lB\">\n<div id=\"MidResponsive-3\" class=\"\" data-module=\"mps-slot\"></div>\n</div>\n<p><span style=\"color: #000000;\">But more recently, a 2018 study from Purdue University used much wider data from the Gallup World Poll and found that the ideal income point for individuals is $95,000 for life satisfaction and $60,000 to $75,000 for emotional well-being.</span></p>\n<p><span style=\"color: #000000;\">When people earned more than $105,000, their happiness levels decreased.</span></p>\n<p><span style=\"color: #000000;\">But even a decade later, experts say that the amount of money people need for happiness would still be around the median income for U.S. residents, which is $63,179, according to the most recent U.S. Census data from 2018.</span></p>\n<p><span style=\"color: #000000;\">The idea is that you need money to meet basic needs, such as access to healthcare and a safe place to live, Lyubomirsky says. If you grow up without resources like food, clothing or shelter, then having more money really makes a huge difference in your life and overall well-being. </span></p>\n<p><span style=\"color: #000000;\">“But once you hit that middle class level, there really is no correlation above that,” says Brad Klontz, a financial therapist and psychology professor at Creighton University. This can be challenging to comprehend, because most people operate under the assumption that money will solve all of our problems. </span></p>\n<p><span style=\"color: #000000;\">“At the end of the day, we’re humans and we struggle with existential issues like what’s the meaning of life, and who am I?” Klontz says. “And those sort of questions don’t go away when you get a bunch of money.”</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">With happiness, being rich is relative</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">More money doesn’t make us happier but making “more relative to other people” does, according to Yale psychology professor Laurie Santos, who hosts “The Happiness Lab” podcast.</span></p>\n<p><span style=\"color: #000000;\">“Even the richest folks out there in the world can often look around and find somebody that’s just a teensy, weensy bit richer, and therefore their money is not making them as happy as they think,” she tells CNBC Make It. </span></p>\n<p><span style=\"color: #000000;\">This is because we have an evolutionary tendency to compare ourselves to other people, Klontz says. “We’re very much wired on a survival level to see how we compare and where we stack up next to everybody else.” </span></p>\n<p><span style=\"color: #000000;\">Studies suggest that when we feel like we can’t maintain the same standard of living as our peers, it makes us unhappy.</span></p>\n<p><span style=\"color: #000000;\">“Essentially, how you rate yourself in terms of your subjective well-being, like whether you feel like you’re happy or satisfied or not, is entirely dependent on how you see other people doing around you and what they have.”</span></p>\n<p><span style=\"color: #000000;\">And the reason why simply getting more money doesn’t make us happier is because there is a psychological phenomenon called “hedonic adaptation”: “Over time, we get used to that change in our life and our expectations change and our lifestyle changes — we adapt,” Lyubomirsky says.</span></p>\n<p><span style=\"color: #000000;\">Plus “every time we experience kind of a rise in income, our aspirations and expectations rise a little bit,” she says.</span></p>\n<p><span style=\"color: #000000;\">“It’s really critical to know that this is what’s happening for you subconsciously, so that you can override it,” Klontz says. “Otherwise, you’re going to be really tempted to buy things. Like, when you see your neighbors have a new car, you can have an instant sense of dissatisfaction that you don’t have a new car, and you’re going to be vulnerable to making financial mistakes.”</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Purpose is more important than money to be happy</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Research consistently shows that if you want to be happier in your job, you shouldn’t chase a high salary. From a happiness standpoint, it’s more important that your job provides a sense of meaning or purpose.</span></p>\n<p><span style=\"color: #000000;\">“You should focus on whether the job is meeting what we often call your own signature strengths,” Santos says. “These are your own values that you want to experience in the world.” For example, maybe you find that being creative or teaching other people is rewarding.</span></p>\n<p><span style=\"color: #000000;\">Not only does having meaning make you happier, but studies have shown that you tend to be more productive, too. When you’re engaged in an activity that you find challenging and satisfying, you experience “flow,” or a state of optimal experience, Klontz says.</span></p>\n<p><span style=\"color: #000000;\">In a 2018 survey by BetterUp Labs, nine out of 10 people said they’d trade 23% of their future earnings to have a job with meaning. So why don’t more people switch to lower-paying but more meaningful jobs?</span></p>\n<p><span style=\"color: #000000;\">According to Santos, it’s easy to get caught in “golden handcuffs,” or in other words, when you feel trapped in a job you hate because it’s paying a lot of money.</span></p>\n<p><span style=\"color: #000000;\">“I think a lot of people hate their jobs and their careers, but they do it because they need to pay for their life,” entrepreneur Gary Vaynerchuk tells CNBC Make It. Vaynerchuk came from “humble” beginnings, he says. He and his family immigrated from Belarus in the ’70s and grew up in middle class enclaves like Queens, New York and Edison, New Jersey. </span></p>\n<p><span style=\"color: #000000;\">Although he’s a multimillionaire now, Vaynerchuk says that he wants to “redefine success” as being happy versus making a lot of money. “I have an uncomfortable [number] of friends who make $12 million a year and are unhappy,” he says.</span></p>\n<p><span style=\"color: #000000;\">Luckily, anyone can make their job more meaningful, by “infusing” your own personal strengths into what you do every day, says Santos. If you love to help other people, for example, think about ways that you can lend a hand to others at the office.</span></p>\n<p><span style=\"color: #000000;\">Or if you’re currently between jobs or not sure what your signature strengths are, you may want to spend time writing down what you value in life, she suggests. </span><br /> <span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">You can buy happiness by doing this</span></h2>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"></h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“How you spend your money is really critical to your happiness,” Lyubomirsky says.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">For example, contrary to the “self-care” belief that you should splurge and “treat yourself” to material purchases, buying things won’t make us very happy, Santos says. While it might feel good to shop for nicer or more expensive things, they typically aren’t fulfilling once we get them, she says. This is in part because material purchases hang around, so we get used to them. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">On the other hand, spending money on personal growth, connecting with people and contributing to the community, do contribute to happiness, Lyubomirsky says. Studies also suggest that spending money on experiences makes you happier than items.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“If you spend money in ways that help others, or help you connect with others, whether it’s just like a dinner with friends or traveling, even if it’s not very far and very expensive, that would make you very happy,” she says.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Another surprising way to spend? Buy yourself time. A 2017 study found that when people paid for time-saving services — such as ordering takeout, having your home cleaned and outsourcing someone to run errands — they had higher levels of life satisfaction than when they bought material items. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">At a time when our habits around money and shopping are changing, simply understanding what will make you happy is key. “Being aware of our beliefs around money, and being open to challenging them and shifting them, is going to be more important than ever,” Klontz says.</span></p>\n</div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"> </span></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.cnbc.com/2020/05/26/how-your-salary-and-the-way-you-spend-money-affect-your-happiness.html\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','465-revision-v1','','','2020-05-27 16:16:15','2020-05-27 16:16:15','',465,'http://smartinsurance.tips/465-revision-v1/',0,'revision','',0),(474,1,'2020-05-27 16:16:53','2020-05-27 16:16:53','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"ArticleHeader-styles-makeit-headline--1DSjp\" style=\"text-align: justify;\"><strong>From the ‘perfect’ salary to keeping up with the Joneses, here’s how money really affects your happiness</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><img src=\"https://image.cnbcfm.com/api/v1/image/106542374-1589819923525twenty20_bdc662c5-992f-4a5f-b087-a71c56499d5b.jpg?v=1589819976\" width=\"799\" height=\"452\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<div class=\"group\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">With record unemployment, pay cuts, a turbulent market and an ever-widening gap between the haves and the have nots, money is at the forefront of people’s minds more than ever. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">But how important is money to happiness?</span></p>\n<div class=\"BoxInline-styles-makeit-container--23sG-  \" style=\"text-align: justify;\">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-styles-makeit-container--23sG-\" data-module=\"mps-slot\"></div>\n</div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The answer is complicated. Research has long looked at how money affects happiness, which in psychology is defined as both emotional well-being, and how satisfied you are with the way your life is going. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Studies have pinpointed the salary that people need for happiness, looked at why money doesn’t make us as happy as we expect and posited the ideal ways to spend your money to be happy. Here’s what you need to know, no matter what you make:</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">There is a sort of perfect ‘happiness’ salary</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">A well-known 2010 study by Princeton researchers Daniel Kahneman and Angus Deaton found that people tend to feel happier the more money they make, up until a point, which Kahneman and Deaton estimated to be about $75,000 a year per person.</span></p>\n<p><span style=\"color: #000000;\">“After that, [happiness] kind of leveled off,” Sonja Lyubomirsky, a professor of psychology at the University of California who studies happiness, tells CNBC Make It.</span></p>\n<p><span style=\"color: #000000;\">People’s emotional well-being, or how they felt on a daily basis, didn’t improve as they made more than $75,000, but their life satisfaction, or how happy they were with their life overall, did.</span></p>\n<div class=\"MidResponsive-styles-makeit-midResponsiveContainer--3l1lB\">\n<div id=\"MidResponsive-3\" class=\"\" data-module=\"mps-slot\"></div>\n</div>\n<p><span style=\"color: #000000;\">But more recently, a 2018 study from Purdue University used much wider data from the Gallup World Poll and found that the ideal income point for individuals is $95,000 for life satisfaction and $60,000 to $75,000 for emotional well-being.</span></p>\n<p><span style=\"color: #000000;\">When people earned more than $105,000, their happiness levels decreased.</span></p>\n<p><span style=\"color: #000000;\">But even a decade later, experts say that the amount of money people need for happiness would still be around the median income for U.S. residents, which is $63,179, according to the most recent U.S. Census data from 2018.</span></p>\n<p><span style=\"color: #000000;\">The idea is that you need money to meet basic needs, such as access to healthcare and a safe place to live, Lyubomirsky says. If you grow up without resources like food, clothing or shelter, then having more money really makes a huge difference in your life and overall well-being. </span></p>\n<p><span style=\"color: #000000;\">“But once you hit that middle class level, there really is no correlation above that,” says Brad Klontz, a financial therapist and psychology professor at Creighton University. This can be challenging to comprehend, because most people operate under the assumption that money will solve all of our problems. </span></p>\n<p><span style=\"color: #000000;\">“At the end of the day, we’re humans and we struggle with existential issues like what’s the meaning of life, and who am I?” Klontz says. “And those sort of questions don’t go away when you get a bunch of money.”</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">With happiness, being rich is relative</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">More money doesn’t make us happier but making “more relative to other people” does, according to Yale psychology professor Laurie Santos, who hosts “The Happiness Lab” podcast.</span></p>\n<p><span style=\"color: #000000;\">“Even the richest folks out there in the world can often look around and find somebody that’s just a teensy, weensy bit richer, and therefore their money is not making them as happy as they think,” she tells CNBC Make It. </span></p>\n<p><span style=\"color: #000000;\">This is because we have an evolutionary tendency to compare ourselves to other people, Klontz says. “We’re very much wired on a survival level to see how we compare and where we stack up next to everybody else.” </span></p>\n<p><span style=\"color: #000000;\">Studies suggest that when we feel like we can’t maintain the same standard of living as our peers, it makes us unhappy.</span></p>\n<p><span style=\"color: #000000;\">“Essentially, how you rate yourself in terms of your subjective well-being, like whether you feel like you’re happy or satisfied or not, is entirely dependent on how you see other people doing around you and what they have.”</span></p>\n<p><span style=\"color: #000000;\">And the reason why simply getting more money doesn’t make us happier is because there is a psychological phenomenon called “hedonic adaptation”: “Over time, we get used to that change in our life and our expectations change and our lifestyle changes — we adapt,” Lyubomirsky says.</span></p>\n<p><span style=\"color: #000000;\">Plus “every time we experience kind of a rise in income, our aspirations and expectations rise a little bit,” she says.</span></p>\n<p><span style=\"color: #000000;\">“It’s really critical to know that this is what’s happening for you subconsciously, so that you can override it,” Klontz says. “Otherwise, you’re going to be really tempted to buy things. Like, when you see your neighbors have a new car, you can have an instant sense of dissatisfaction that you don’t have a new car, and you’re going to be vulnerable to making financial mistakes.”</span></p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Purpose is more important than money to be happy</span></h2>\n<p>&nbsp;</p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Research consistently shows that if you want to be happier in your job, you shouldn’t chase a high salary. From a happiness standpoint, it’s more important that your job provides a sense of meaning or purpose.</span></p>\n<p><span style=\"color: #000000;\">“You should focus on whether the job is meeting what we often call your own signature strengths,” Santos says. “These are your own values that you want to experience in the world.” For example, maybe you find that being creative or teaching other people is rewarding.</span></p>\n<p><span style=\"color: #000000;\">Not only does having meaning make you happier, but studies have shown that you tend to be more productive, too. When you’re engaged in an activity that you find challenging and satisfying, you experience “flow,” or a state of optimal experience, Klontz says.</span></p>\n<p><span style=\"color: #000000;\">In a 2018 survey by BetterUp Labs, nine out of 10 people said they’d trade 23% of their future earnings to have a job with meaning. So why don’t more people switch to lower-paying but more meaningful jobs?</span></p>\n<p><span style=\"color: #000000;\">According to Santos, it’s easy to get caught in “golden handcuffs,” or in other words, when you feel trapped in a job you hate because it’s paying a lot of money.</span></p>\n<p><span style=\"color: #000000;\">“I think a lot of people hate their jobs and their careers, but they do it because they need to pay for their life,” entrepreneur Gary Vaynerchuk tells CNBC Make It. Vaynerchuk came from “humble” beginnings, he says. He and his family immigrated from Belarus in the ’70s and grew up in middle class enclaves like Queens, New York and Edison, New Jersey. </span></p>\n<p><span style=\"color: #000000;\">Although he’s a multimillionaire now, Vaynerchuk says that he wants to “redefine success” as being happy versus making a lot of money. “I have an uncomfortable [number] of friends who make $12 million a year and are unhappy,” he says.</span></p>\n<p><span style=\"color: #000000;\">Luckily, anyone can make their job more meaningful, by “infusing” your own personal strengths into what you do every day, says Santos. If you love to help other people, for example, think about ways that you can lend a hand to others at the office.</span></p>\n<p><span style=\"color: #000000;\">Or if you’re currently between jobs or not sure what your signature strengths are, you may want to spend time writing down what you value in life, she suggests. </span><br /> <span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"><span style=\"color: #000000;\">You can buy happiness by doing this</span></h2>\n<h2 class=\"ArticleBody-styles-makeit-subtitle--LnHeO\" style=\"text-align: justify;\"></h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“How you spend your money is really critical to your happiness,” Lyubomirsky says.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">For example, contrary to the “self-care” belief that you should splurge and “treat yourself” to material purchases, buying things won’t make us very happy, Santos says. While it might feel good to shop for nicer or more expensive things, they typically aren’t fulfilling once we get them, she says. This is in part because material purchases hang around, so we get used to them. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">On the other hand, spending money on personal growth, connecting with people and contributing to the community, do contribute to happiness, Lyubomirsky says. Studies also suggest that spending money on experiences makes you happier than items.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“If you spend money in ways that help others, or help you connect with others, whether it’s just like a dinner with friends or traveling, even if it’s not very far and very expensive, that would make you very happy,” she says.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Another surprising way to spend? Buy yourself time. A 2017 study found that when people paid for time-saving services — such as ordering takeout, having your home cleaned and outsourcing someone to run errands — they had higher levels of life satisfaction than when they bought material items. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">At a time when our habits around money and shopping are changing, simply understanding what will make you happy is key. “Being aware of our beliefs around money, and being open to challenging them and shifting them, is going to be more important than ever,” Klontz says.</span></p>\n</div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"> </span></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.cnbc.com/2020/05/26/how-your-salary-and-the-way-you-spend-money-affect-your-happiness.html\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','From the ‘perfect’ salary to keeping up with the Joneses, here’s how money really affects your happiness','','inherit','closed','closed','','465-revision-v1','','','2020-05-27 16:16:53','2020-05-27 16:16:53','',465,'http://smartinsurance.tips/465-revision-v1/',0,'revision','',0),(475,1,'2020-05-27 16:48:00','2020-05-27 16:48:00','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"post-header-social__headline rare-headline\" style=\"text-align: center;\"><strong>Should I Update My Car Insurance Policy Right Now?</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p><img src=\"https://i0.wp.com/clark.com/wp-content/uploads/2020/04/dreamstime_m_103350026-e1586184450800.jpg?resize=875%2C400&amp;ssl=1\" alt=\"A woman shopping for car insurance online\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><span></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Whether you’re working from home, laid off or postponing travel plans during the coronavirus pandemic, you may not be driving your car as often or as far as usual.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">In this article, we’ll look at three ways to save on your car insurance until things begin returning to normal. </span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><b>Ways to Save on Auto Insurance Right Now<br /></b></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If you find you aren’t driving as much as usual for an extended period of time, there’s no need to pay as much as usual for car insurance.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“The number of accidents occurring, claims being filed and money having to be paid out for medical problems or physical damage to vehicles or property is like nothing right now,” says money expert Clark Howard. “So auto insurers are just collecting all that money and paying out essentially nothing.”</span></p>\n<p class=\"p1\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Some companies like Allstate, GEICO, Travelers and American Family Mutual Insurance Co. are offering coronavirus refunds or credit in order to compensate current customers. If you aren’t receiving any compensation from your auto insurer, there are still ways to cut the cost and make up for the miles that you aren’t currently driving.</span></p>\n<div class=\"code-block code-block-2\" style=\"text-align: justify;\"></div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">To make sure you’re paying a fair price for how much you are using your car right now, consider these three options.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><b>Update Your Mileage</b></span></h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Your auto insurer most likely asked about how much you drive on average and factored that answer into the total price of your monthly insurance. In order to <strong>avoid being charged for miles you aren’t driving</strong> right now, take the time to update your mileage.</span></p>\n<blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“It is really a fantastic idea to call your auto insurer, or easier, go online and sign in to your account and reduce the miles listed for your vehicles,” recommends Clark Howard.</span></p>\n</blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If you’re happy with your car insurance and want to stay with the same provider, this may be the best option for you. You’ll likely be able to save some cash based on the miles you aren’t driving, and when things return to normal, it’ll be easy to return to your original policy. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">To get started, <strong>call your auto insurer or log into your online account</strong> through your insurance provider and look for the option to update your mileage.<br /></span><span style=\"color: #000000; font-size: 14px; text-align: left;\"> </span></p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><b>Move to a Pay-Per-Mile Insurance Plan</b></span></h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Last, consider moving to an insurance plan that allows you to pay per mile. </span></p>\n<blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“Going to one of the small number of insurers that you pay per mile for auto insurance would be a really great idea now,” says Clark.</span></p>\n</blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If you’re driving less than 10,000 miles each year, this type of insurance would be a great fit for you. You’ll <strong>find full coverage plans and save money the fewer miles you drive</strong>. </span></p>\n<div class=\"code-block code-block-4\" style=\"text-align: justify;\"></div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Typically, you’ll have to plug a dongle into your vehicle’s port which will record your daily mileage. Some pay-per-mile insurance companies might ask you to download an app on your phone to track your driving. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Keep in mind that these insurers aren’t usually tracking <i>how</i> you drive, the focus is on <i>how much</i> you drive.<br /><br /></span></p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><b>Final Thoughts</b></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Overall, it’s important to keep in mind that <strong>these circumstances won’t last forever</strong> and, eventually, we will be returning to normal. Still, if you can save money on your car insurance in the meantime, the extra cash may come in handy later. </span></p>\n<blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“This is a short-term huge windfall for auto insurers and a short-term wasted amount of money for you and me essentially paying for full auto insurance coverage,” says Clark Howard. “But then just a couple months away, we’re going to be back to driving a fair number of miles again.”</span></p>\n</blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">While you’re <strong>updating your mileage, comparing rates or shopping for a pay-per-mile insurance plan</strong>, keep an open mind and know that you may be able to lock in savings that last far beyond the coronavirus. </span></p>\n<p style=\"text-align: justify;\"><span></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">You can read the full article</span> <a href=\"https://clark.com/insurance/car-insurance/update-my-car-insurance-policy/\">here</a>.<span></span></p>\n<p style=\"text-align: justify;\"><span></span></p>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Should I Update My Car Insurance Policy Right Now?','','publish','closed','closed','','should-i-update-my-car-insurance-policy-right-now','','','2020-05-27 16:48:00','2020-05-27 16:48:00','',0,'http://smartinsurance.tips/?page_id=475',0,'page','',0),(476,1,'2020-05-27 16:38:49','2020-05-27 16:38:49','<!-- wp:divi/placeholder /-->','Should I Update My Car Insurance Policy Right Now?','','inherit','closed','closed','','475-revision-v1','','','2020-05-27 16:38:49','2020-05-27 16:38:49','',475,'http://smartinsurance.tips/475-revision-v1/',0,'revision','',0),(478,1,'2020-05-27 16:48:00','2020-05-27 16:48:00','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"post-header-social__headline rare-headline\" style=\"text-align: center;\"><strong>Should I Update My Car Insurance Policy Right Now?</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p><img src=\"https://i0.wp.com/clark.com/wp-content/uploads/2020/04/dreamstime_m_103350026-e1586184450800.jpg?resize=875%2C400&amp;ssl=1\" alt=\"A woman shopping for car insurance online\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><span></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Whether you’re working from home, laid off or postponing travel plans during the coronavirus pandemic, you may not be driving your car as often or as far as usual.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">In this article, we’ll look at three ways to save on your car insurance until things begin returning to normal. </span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><b>Ways to Save on Auto Insurance Right Now<br /></b></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If you find you aren’t driving as much as usual for an extended period of time, there’s no need to pay as much as usual for car insurance.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“The number of accidents occurring, claims being filed and money having to be paid out for medical problems or physical damage to vehicles or property is like nothing right now,” says money expert Clark Howard. “So auto insurers are just collecting all that money and paying out essentially nothing.”</span></p>\n<p class=\"p1\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Some companies like Allstate, GEICO, Travelers and American Family Mutual Insurance Co. are offering coronavirus refunds or credit in order to compensate current customers. If you aren’t receiving any compensation from your auto insurer, there are still ways to cut the cost and make up for the miles that you aren’t currently driving.</span></p>\n<div class=\"code-block code-block-2\" style=\"text-align: justify;\"></div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">To make sure you’re paying a fair price for how much you are using your car right now, consider these three options.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><b>Update Your Mileage</b></span></h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Your auto insurer most likely asked about how much you drive on average and factored that answer into the total price of your monthly insurance. In order to <strong>avoid being charged for miles you aren’t driving</strong> right now, take the time to update your mileage.</span></p>\n<blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“It is really a fantastic idea to call your auto insurer, or easier, go online and sign in to your account and reduce the miles listed for your vehicles,” recommends Clark Howard.</span></p>\n</blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If you’re happy with your car insurance and want to stay with the same provider, this may be the best option for you. You’ll likely be able to save some cash based on the miles you aren’t driving, and when things return to normal, it’ll be easy to return to your original policy. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">To get started, <strong>call your auto insurer or log into your online account</strong> through your insurance provider and look for the option to update your mileage.<br /></span><span style=\"color: #000000; font-size: 14px; text-align: left;\"> </span></p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><b>Move to a Pay-Per-Mile Insurance Plan</b></span></h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Last, consider moving to an insurance plan that allows you to pay per mile. </span></p>\n<blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“Going to one of the small number of insurers that you pay per mile for auto insurance would be a really great idea now,” says Clark.</span></p>\n</blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If you’re driving less than 10,000 miles each year, this type of insurance would be a great fit for you. You’ll <strong>find full coverage plans and save money the fewer miles you drive</strong>. </span></p>\n<div class=\"code-block code-block-4\" style=\"text-align: justify;\"></div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Typically, you’ll have to plug a dongle into your vehicle’s port which will record your daily mileage. Some pay-per-mile insurance companies might ask you to download an app on your phone to track your driving. </span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Keep in mind that these insurers aren’t usually tracking <i>how</i> you drive, the focus is on <i>how much</i> you drive.<br /><br /></span></p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><b>Final Thoughts</b></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Overall, it’s important to keep in mind that <strong>these circumstances won’t last forever</strong> and, eventually, we will be returning to normal. Still, if you can save money on your car insurance in the meantime, the extra cash may come in handy later. </span></p>\n<blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“This is a short-term huge windfall for auto insurers and a short-term wasted amount of money for you and me essentially paying for full auto insurance coverage,” says Clark Howard. “But then just a couple months away, we’re going to be back to driving a fair number of miles again.”</span></p>\n</blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">While you’re <strong>updating your mileage, comparing rates or shopping for a pay-per-mile insurance plan</strong>, keep an open mind and know that you may be able to lock in savings that last far beyond the coronavirus. </span></p>\n<p style=\"text-align: justify;\"><span></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">You can read the full article</span> <a href=\"https://clark.com/insurance/car-insurance/update-my-car-insurance-policy/\">here</a>.<span></span></p>\n<p style=\"text-align: justify;\"><span></span></p>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Should I Update My Car Insurance Policy Right Now?','','inherit','closed','closed','','475-revision-v1','','','2020-05-27 16:48:00','2020-05-27 16:48:00','',475,'http://smartinsurance.tips/475-revision-v1/',0,'revision','',0),(485,1,'2020-06-23 22:26:38','2020-06-23 22:26:38','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"gnt_ar_hl\" elementtiming=\"ar-headline\" style=\"text-align: center;\"><strong>How to talk to your kids about financial hardship</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">With millions of Americans out of work due to the coronavirus pandemic, more Americans than ever are depending on unemployment benefits, loan payment assistance, and forgiving landlords to get through the month. It may be years before the total financial cost is calculated, and the emotional tally may never be known.</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">How do you tell your kids that you don\'t have enough money for necessities, much less anything extra? How do you share the truth without frightening them? Finally, is it possible to use this experience to help your children grow up into compassionate, balanced adults with a sense of what matters in life?</span></p>\n<h2 class=\"gnt_ar_b_h2\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Should you tell your kids about financial hardship?</span></h2>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Tamara Stervinou taught special education for nearly 30 years, the last 25 in Kearney, Missouri. She says that children pick up on what\'s going on around them. If you are stressed, chances are they know it. They don\'t understand why you can\'t sleep at night, so they jump to conclusions. What they imagine is often scarier than what is really going on. If you\'re wondering how to talk to your kids about financial hardship, these tips will get you started:</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-2\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CN7Tjcr9mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" data-google-container-id=\"2\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<ul class=\"gnt_ar_b_ul\" style=\"text-align: justify;\">\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Remain calm</strong>. \"Staying calm is everything,\" said Stervinou. \"A child will innately think it\'s their fault when you talk to them about money problems. Don\'t put that on them.\" Calmly explain the situation in a way that lets your kids know that you are in charge and you can handle it -- whether you feel that way or not.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Follow their lead</strong>. Do not tell them more than they want to know. One child may feel fine after hearing a single answer, while another may want to ask several follow-up questions. Stervinou reminds us that this is a confusing time for children. \"If there was a flood, kids would be able to see why they can\'t go to school or Mom and Dad can\'t go to work. They can\'t see a virus, which makes this more confusing for them.\"</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Answer in an age-appropriate way</strong>. A seven-year-old has no interest in IRAs or what the economic downturn has done to your balance. He or she wants to know why they can\'t have a new pair of shoes.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Keep it simple</strong>. Say something like, \"Mom and Dad are not working right now because of the virus. We\'re being careful with our checking account and will not be spending as much as we normally do.\"</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Offer a broad overview</strong>. Once you have told your kids that you are cutting back on spending, do not go into the weeds by offering them more details than they can absorb, and refrain from sharing your pandemic-related frustrations.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Do not \"parentify\" your children</strong>. Let them know finances are an adult issue. Their only job is to keep being great kids and to leave all other concerns to you.</span></li>\n</ul>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-3\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CN_Tjcr9mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_1\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" data-google-container-id=\"3\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<h2 class=\"gnt_ar_b_h2\" style=\"text-align: justify;\"><span style=\"color: #000000;\">What about children with special needs?</span></h2>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Whether your child has a disability, behavioral issues, or deals with anxiety, discussing financial hardship requires sensitivity. Wait to have the conversation until you can focus fully on your child. In addition, you should:</span></p>\n<ul class=\"gnt_ar_b_ul\" style=\"text-align: justify;\">\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Consider your child\'s capacity for accepting bad news</strong>. Before you say anything, think about how you will comfort and calm your child if they have an outburst. Remember, they are having a normal reaction to an atypical situation. Your job is to help them draw on the coping skills they have learned.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Do not over-share.</strong> As you would with any child, tell them just enough to answer their questions without adding to their anxiety or frustration.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Keep it simple.</strong> Stervinou says that most kids, regardless of abilities, understand what a grocery store is. Let them know that for the time being, you are trying to protect your family and other people by making trips to the grocery store -- and only the grocery store -- only when it\'s absolutely necessary.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Expect outbursts.</strong> It\'s only human for a kid to lash out when he or she is frustrated and/or afraid. \"Adults with no disabilities act out. It\'s a given that kids are going to do something to show their frustration,\" Stervinou said.</span> </li>\n</ul>\n<aside class=\"gnt_em gnt_em_anc\" id=\"gnt_atomsnc\" data-g-r=\"lazy\" data-gl-method=\"loadAnc\" aria-label=\"Newsletter signup form\"><gannett-atoms-component-newsletter-cta link-newsletter=\"https://user.usatoday.com/USAT-GUP/user/newsletters/\" link-attributes=\"https://user.usatoday.com/USAT-GUP/user/attributes/\" link-help=\"https://help.usatoday.com/\" link-profile=\"https://profile.usatoday.com/newsletters/manage\" link-register=\"https://login.usatoday.com/USAT-GUP/authenticate?requested-state=create-account&amp;return-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F20%2Fhow-to-talk-to-your-kids-about-financial-hardship%2F111979374%2F&amp;cancel-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F20%2Fhow-to-talk-to-your-kids-about-financial-hardship%2F111979374%2F&amp;success-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F20%2Fhow-to-talk-to-your-kids-about-financial-hardship%2F111979374%2F&amp;reg_source=NEWSLTRCTA&amp;reg_medium=ONSITE&amp;reg_campaign=newsletters&amp;reg_delivery=atoms\" ssts=\"money\" authorized=\"false\" authenticated=\"false\" class=\"hydrated\">\n<p>&nbsp;</p>\n</gannett-atoms-component-newsletter-cta></aside>\n<h2 class=\"gnt_ar_b_h2\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Teach finances through positive experiences</span></h2>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">It would be a lie to say that we can put COVID-19 behind us. In fact, many of us will always remember 2020 as the year a pandemic shut down America. Our children will remember it as well. What is it that you want your kids to recall when they look back on this time? What lessons do you hope they carry with them?</span></p>\n<figure class=\"gnt_em gnt_em_img\" style=\"text-align: justify;\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"Let your children know finances are an adult issue.\" src=\"https://www.gannett-cdn.com/-mm-/9e1f6e2ee20f44aa1f3be4f71e9f3e52b6ae2c7e/c=0-110-2121-1303/local/-/media/2020/01/06/USATODAY/usatsports/getty-parent-child-business-plan.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/-mm-/9e1f6e2ee20f44aa1f3be4f71e9f3e52b6ae2c7e/c=0-110-2121-1303/local/-/media/2020/01/06/USATODAY/usatsports/getty-parent-child-business-plan.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"Let your children know finances are an adult issue.\" data-c-credit=\"Getty Images\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Some of the most meaningful conversations we have are while we\'re emptying the dishwasher or folding towels. As you move through the upcoming days with your kids, casually introduce questions like these:</span></p>\n<ul class=\"gnt_ar_b_ul\" style=\"text-align: justify;\">\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>What do you think we will learn from this experience?</strong> Your children\'s great- grandparents (or great-great-grandparents) had The Great Depression to teach them the value of living below their means and how to prioritize anemergency fund. As you discuss finances with your kids, talk about the wisdom of saving money, how important it is to delay gratification, and the best way to use credit. Finally, ask them about the lessons they think they will take from the experience.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>What means the most to you?</strong> At the end of life, few of us will brag about the stuff we own. We will, however, be proud of the relationships we built. Now is a great time to talk to your children about what matters and what doesn\'t, to help them understand that relationships and experiences trump new toys and gadgets every time.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>How can we have fun without spending money?</strong> When financial consultant Winnie Sun wanted to teach her three young sons about having fun on a budget, she transformed the dining room table into a ping pong table. Sun pulled out old table tennis paddles and encouraged one of her sons to build a \"net\" using Legos. She also ordered seeds so the boys could plant and care for a garden in buckets in the backyard. Sun says that when her sons look back on 2020 and their shelter-at-home experience, she wants them to remember how much fun they had without spending a dime.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Would you like to help with the family budget?</strong> Invite older children to take part in family budget meetings. They already know that times are tough, but having a voice regarding the family budget can give older kids a greater sense of control, teach themhow to budget, and help them see that things will eventually get better.</span></li>\n</ul>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-4\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CODTjcr9mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_2\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" data-google-container-id=\"4\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<h2 class=\"gnt_ar_b_h2\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Take care of yourself</span></h2>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Stervinou is particularly concerned about parents with children at home, worried that they are not taking proper care of themselves. According to the longtime educator, how you take care of yourself directly impacts how well you can teach your kids about pandemics, finances, job loss, or any other life-altering circumstance.</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">\"When you\'re overwhelmed, take a step back. If you\'re frustrated because you have trouble helping your child with their schoolwork, give yourself permission to do half the work,\" she said. \"Don\'t put your frustration back on your child. Rather, modify what you\'re doing. Talk to other parents to find out how they\'re doing things, create or join a social support group, contact your child\'s teacher to ask for help. Do what you need to do to lighten the load. If you can\'t take care of you, how are you going to take care of your children?\"</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong class=\"gnt_ar_b_al\">Coronavirus comfort buying:</strong>Stress shopping is a real thing. Don’t let it hurt your finances</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong class=\"gnt_ar_b_al\">Social Security:</strong>How to plan for a smaller Social Security check</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Stervinou also recommends spending time outdoors with your kids every day. Take a walk, make chalk drawings on the sidewalk, have a picnic in the driveway or on the porch, or just play a game. \"Make sure you and the kids get enough physical activity. It\'s good for your mind and soul.\"</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">There are millions of Americans who feel adrift right now, although that reminder may offer more anxiety than comfort. The truth is, we will get through this. We may view the world in a slightly different way, but that\'s not necessarily a bad thing. If what you\'re left with after the kids are back in school and you\'re back to work is a greater sense that you want to control your own financial fate, start researching the ways you can do that. Until then, take this opportunity to teach your children the power of perseverance.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.usatoday.com/story/money/2020/06/20/how-to-talk-to-your-kids-about-financial-hardship/111979374/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How to talk to your kids about financial hardship','','publish','closed','closed','','how-to-talk-to-your-kids-about-financial-hardship','','','2020-06-23 22:34:01','2020-06-23 22:34:01','',0,'http://smartinsurance.tips/?page_id=485',0,'page','',0),(486,1,'2020-06-23 22:26:38','2020-06-23 22:26:38','<!-- wp:divi/placeholder /-->','How to talk to your kids about financial hardship','','inherit','closed','closed','','485-revision-v1','','','2020-06-23 22:26:38','2020-06-23 22:26:38','',485,'http://smartinsurance.tips/485-revision-v1/',0,'revision','',0),(484,1,'2020-06-23 22:23:44','2020-06-23 22:23:44','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>5 Renovations That Can Impact Your Home Insurance</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><img src=\"https://rismedia.com/wp-content/uploads/2020/06/pool_install_1210285606-1080x627.jpg\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">(TNS)— Planning a home renovation can involve fun activities, such as designing a new floor plan or picking fixtures and paint colors. Having a heart-to-heart with your home insurance carrier may not be part of your preparations, but it should be.</span></p>\n<p><span style=\"color: #000000;\">Many house improvements that boost your home’s value could render your home insurance coverage inadequate and leave you vulnerable to losses. Other upgrades may trigger lower premiums—savings you don’t want to miss simply because you didn’t think about your home insurance during renovation.</span></p>\n<p><span style=\"color: #000000;\">Some home renovations greatly increase the value of your home and the cost of your home insurance, while others not so much. Here’s what you can expect with the following popular home renovations.</span></p>\n<div class=\"QI7shHAc\"></div>\n<p><span style=\"color: #000000;\"><strong>1. Renovating your roof: Decrease<br /></strong>A new roof may not be the most exciting home improvement, but it sure can save a lot of cash when it comes to homeowners insurance.</span></p>\n<p><span style=\"color: #000000;\">Some homeowners can get even bigger discounts if they live in hurricane-, wind- or hail-prone states and their new roof employs special loss-mitigation measures, such as hurricane straps, waterproofing or the very best shingles.</span></p>\n<p><span style=\"color: #000000;\">While most home policies cover roofs, some insurers use depreciation schedules based on the age of the roof to determine how much protection you get, says Hutchinson. Based on the age of the roof, some policies won’t cover it at all. But the newer the roof, the more the insurer will spend to replace it. Consider adding flood insurance if you live in a flood-prone area as your flood insurance could cover the cost of damage or leaks to your roof.</span></p>\n<div class=\"C6EXxZTb\"></div>\n<p><span style=\"color: #000000;\"><strong>2. Building a pool: Increase<br /></strong>A pool may make you the most popular house on the block, but it means your home is the riskiest from an insurance standpoint.</span></p>\n<p><span style=\"color: #000000;\">The standard policy usually comes with $100,000 in personal liability protection, which would cover medical costs for a person injured in your pool and any legal expenses if you’re sued. However, an insurer may recommend that a pool owner opt for at least $500,000 in liability coverage.</span></p>\n<p><span style=\"color: #000000;\">The insurer also may require a fence around the pool with a lock to cover the newly-built liability. If the pool has a diving board or slide, it will be considered an even greater potential hazard.</span></p>\n<div class=\"u2VPAp6f\"></div>\n<p><span style=\"color: #000000;\"><strong>3. Adding an office for a home business: Increase<br /></strong>Say you want to go full time making reclaimed-wood furniture at home for your Etsy site. Will your home insurance cover the assets of your newfound business?</span></p>\n<p><span style=\"color: #000000;\">Most homeowners policies protect equipment for home-based businesses up to about $2,500. That might not be enough for a business owner who uses specialized machinery or stores large amounts of supplies or inventory. Unfortunately, you may need to bolster your existing policy or purchase an additional business policy.</span></p>\n<p><span style=\"color: #000000;\">This is particularly true if your business is the type that creates heavier foot traffic in your home, such as piano lessons or private yoga sessions.</span></p>\n<p><span style=\"color: #000000;\">However, if your business doesn’t bring visitors to your home and requires little equipment or supplies outside of a basic computer, your existing home policy should do the trick.</span></p>\n<p><span style=\"color: #000000;\">That said, depending on your insurance provider, you may have a few options:</span></p>\n<p><span style=\"color: #000000;\">– Endorsement to your existing homeowners policy: This typically jumps the $2,500 protection amount to $5,000</span><br /><span style=\"color: #000000;\">– Businessowners policy: Combines a wide array of coverages into a single policy</span><br /><span style=\"color: #000000;\">– In-home Business Insurance: Costs about $300 a year, and features the same protection you would get if you were a larger company with smaller policy limits and premiums</span></p>\n<p><span style=\"color: #000000;\"><strong>4. Expanding your space: Increase<br /></strong>Sometimes a home needs to grow to accommodate an expanding family. That can mean adding more livable square footage, such as in a dank basement or humid attic above the garage. In other instances, a new addition may be in order.</span></p>\n<p><span style=\"color: #000000;\">Your insurance will need to be altered to account for the value of the new space.</span><br /><span style=\"color: #000000;\">You may need to consider other types of coverage for the newly built areas of your home. A finished basement with new carpet, drywall and insulation may need water backup coverage if the sump pump is located there, says Towns.</span></p>\n<p><span style=\"color: #000000;\"><strong>5. Upgrading your kitchen or bath: Both<br /></strong>Sometimes nothing can give a house the facelift it needs quite like making over a kitchen into a chef’s dream or a master bathroom into a spa sanctuary. But unless you give your home insurance a makeover, too, the renovation may be at risk.</span></p>\n<p><span style=\"color: #000000;\">For example, say your insurer based your coverage on a kitchen with laminate countertops and generic cabinets. But then you spend $40,000 on granite countertops, custom cabinets and top-of-the-line appliances. Would your existing coverage be sufficient to rebuild your remodeled kitchen after a disaster?</span></p>\n<p><span style=\"color: #000000;\">Not if you don’t update your policy.</span></p>\n<p><span style=\"color: #000000;\">Call your insurer about the renovation and provide records and photos to validate what you’ve done. Your premium most likely will go up because your home is now worth more.</span></p>\n<p><span style=\"color: #000000;\">One small bonus: If your contractor upgrades the home’s electrical or plumbing systems during a kitchen or bath renovation, you could wind up with an insurance discount. Depending on the type of upgrade, it could be as much as 20 percent. However, you will need to ask if you qualify for a discount. It won’t be given to you automatically.</span></p>\n<p><span style=\"color: #000000;\">To protect the full value of your home, you will need to update your home insurance after a renovation. To be on the safe side, you should let your insurer know before you make the renovations in case something goes wrong during the process.</span></p>\n<p><span style=\"color: #000000;\"><strong>Q: Do I need to increase my homeowners insurance after renovating?</strong></span></p>\n<p><span style=\"color: #000000;\">Even though experts estimate that remodeling projects increase home values at least by 25 percent, many homeowners don’t increase their coverage.</span></p>\n<p><span style=\"color: #000000;\">When you chose your insurance provider, part of your premium was established by your home’s square footage and the cost that would be required to fix or rebuild it. This means that when you increase the value of your home, you also need to increase the cost of your coverage. Without increased coverage, should a disastrous event occur, any improvements you’ve made will not be covered.</span></p>\n<p><span style=\"color: #000000;\">Another thing you need to consider is that if you make significant improvements outside of your home, meaning you add structures like a high-end shed or pool, they will not be covered unless you purchase other structures add-on coverage.</span></p>\n<p><span style=\"color: #000000;\"><strong>Q: So do you need homeowners insurance during remodeling?</strong></span></p>\n<p><span style=\"color: #000000;\">Short answer: Yes.</span></p>\n<p><span style=\"color: #000000;\">During renovations you need to protect items in your home that aren’t covered with the typical homeowners insurance policy, so speak to your insurance provider about purchasing the following home renovation insurance:</span></p>\n<p><span style=\"color: #000000;\"><strong><em>Construction Material Coverage<br /></em></strong>This coverage protects any materials you’ve purchased whether they’re on your property or are en route to your property. If they are damaged or stolen, construction material coverage will cover the costs of their replacement.</span></p>\n<p><span style=\"color: #000000;\"><strong><em>Foundation Collapse<br /></em></strong>Should your home’s foundation be damaged during construction, foundation collapse will cover the cost of its repair.</span></p>\n<p><span style=\"color: #000000;\"><strong><em>Vacant Home Insurance<br /></em></strong>If you need to live outside of your home while renovations or remodeling is being done, you should purchase vacant home insurance. This will protect your home should any damage occur to it and you don’t notice it until you’re back home.</span></p>\n<p><span style=\"color: #000000;\">Don’t forget to make copies of your contractor’s insurance.</span></p>\n<p><span style=\"color: #000000;\">Contractors normally have insurance to protect them and you while they’re on the job. To work on your home, they will need liability, property and worker’s compensation. Get copies of each before signing any type of agreement with them.</span></p>\n<p>&nbsp;</p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://rismedia.com/2020/06/08/five-renovations-impact-your-home-insurance/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','5 Renovations That Can Impact Your Home Insurance','','inherit','closed','closed','','480-revision-v1','','','2020-06-23 22:23:44','2020-06-23 22:23:44','',480,'http://smartinsurance.tips/480-revision-v1/',0,'revision','',0),(489,1,'2020-06-23 22:34:01','2020-06-23 22:34:01','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"gnt_ar_hl\" elementtiming=\"ar-headline\" style=\"text-align: center;\"><strong>How to talk to your kids about financial hardship</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">With millions of Americans out of work due to the coronavirus pandemic, more Americans than ever are depending on unemployment benefits, loan payment assistance, and forgiving landlords to get through the month. It may be years before the total financial cost is calculated, and the emotional tally may never be known.</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">How do you tell your kids that you don\'t have enough money for necessities, much less anything extra? How do you share the truth without frightening them? Finally, is it possible to use this experience to help your children grow up into compassionate, balanced adults with a sense of what matters in life?</span></p>\n<h2 class=\"gnt_ar_b_h2\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Should you tell your kids about financial hardship?</span></h2>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Tamara Stervinou taught special education for nearly 30 years, the last 25 in Kearney, Missouri. She says that children pick up on what\'s going on around them. If you are stressed, chances are they know it. They don\'t understand why you can\'t sleep at night, so they jump to conclusions. What they imagine is often scarier than what is really going on. If you\'re wondering how to talk to your kids about financial hardship, these tips will get you started:</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-2\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CN7Tjcr9mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" data-google-container-id=\"2\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<ul class=\"gnt_ar_b_ul\" style=\"text-align: justify;\">\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Remain calm</strong>. \"Staying calm is everything,\" said Stervinou. \"A child will innately think it\'s their fault when you talk to them about money problems. Don\'t put that on them.\" Calmly explain the situation in a way that lets your kids know that you are in charge and you can handle it -- whether you feel that way or not.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Follow their lead</strong>. Do not tell them more than they want to know. One child may feel fine after hearing a single answer, while another may want to ask several follow-up questions. Stervinou reminds us that this is a confusing time for children. \"If there was a flood, kids would be able to see why they can\'t go to school or Mom and Dad can\'t go to work. They can\'t see a virus, which makes this more confusing for them.\"</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Answer in an age-appropriate way</strong>. A seven-year-old has no interest in IRAs or what the economic downturn has done to your balance. He or she wants to know why they can\'t have a new pair of shoes.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Keep it simple</strong>. Say something like, \"Mom and Dad are not working right now because of the virus. We\'re being careful with our checking account and will not be spending as much as we normally do.\"</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Offer a broad overview</strong>. Once you have told your kids that you are cutting back on spending, do not go into the weeds by offering them more details than they can absorb, and refrain from sharing your pandemic-related frustrations.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Do not \"parentify\" your children</strong>. Let them know finances are an adult issue. Their only job is to keep being great kids and to leave all other concerns to you.</span></li>\n</ul>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-3\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CN_Tjcr9mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_1\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" data-google-container-id=\"3\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<h2 class=\"gnt_ar_b_h2\" style=\"text-align: justify;\"><span style=\"color: #000000;\">What about children with special needs?</span></h2>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Whether your child has a disability, behavioral issues, or deals with anxiety, discussing financial hardship requires sensitivity. Wait to have the conversation until you can focus fully on your child. In addition, you should:</span></p>\n<ul class=\"gnt_ar_b_ul\" style=\"text-align: justify;\">\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Consider your child\'s capacity for accepting bad news</strong>. Before you say anything, think about how you will comfort and calm your child if they have an outburst. Remember, they are having a normal reaction to an atypical situation. Your job is to help them draw on the coping skills they have learned.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Do not over-share.</strong> As you would with any child, tell them just enough to answer their questions without adding to their anxiety or frustration.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Keep it simple.</strong> Stervinou says that most kids, regardless of abilities, understand what a grocery store is. Let them know that for the time being, you are trying to protect your family and other people by making trips to the grocery store -- and only the grocery store -- only when it\'s absolutely necessary.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Expect outbursts.</strong> It\'s only human for a kid to lash out when he or she is frustrated and/or afraid. \"Adults with no disabilities act out. It\'s a given that kids are going to do something to show their frustration,\" Stervinou said.</span> </li>\n</ul>\n<aside class=\"gnt_em gnt_em_anc\" id=\"gnt_atomsnc\" data-g-r=\"lazy\" data-gl-method=\"loadAnc\" aria-label=\"Newsletter signup form\"><gannett-atoms-component-newsletter-cta link-newsletter=\"https://user.usatoday.com/USAT-GUP/user/newsletters/\" link-attributes=\"https://user.usatoday.com/USAT-GUP/user/attributes/\" link-help=\"https://help.usatoday.com/\" link-profile=\"https://profile.usatoday.com/newsletters/manage\" link-register=\"https://login.usatoday.com/USAT-GUP/authenticate?requested-state=create-account&amp;return-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F20%2Fhow-to-talk-to-your-kids-about-financial-hardship%2F111979374%2F&amp;cancel-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F20%2Fhow-to-talk-to-your-kids-about-financial-hardship%2F111979374%2F&amp;success-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F20%2Fhow-to-talk-to-your-kids-about-financial-hardship%2F111979374%2F&amp;reg_source=NEWSLTRCTA&amp;reg_medium=ONSITE&amp;reg_campaign=newsletters&amp;reg_delivery=atoms\" ssts=\"money\" authorized=\"false\" authenticated=\"false\" class=\"hydrated\">\n<p>&nbsp;</p>\n</gannett-atoms-component-newsletter-cta></aside>\n<h2 class=\"gnt_ar_b_h2\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Teach finances through positive experiences</span></h2>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">It would be a lie to say that we can put COVID-19 behind us. In fact, many of us will always remember 2020 as the year a pandemic shut down America. Our children will remember it as well. What is it that you want your kids to recall when they look back on this time? What lessons do you hope they carry with them?</span></p>\n<figure class=\"gnt_em gnt_em_img\" style=\"text-align: justify;\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"Let your children know finances are an adult issue.\" src=\"https://www.gannett-cdn.com/-mm-/9e1f6e2ee20f44aa1f3be4f71e9f3e52b6ae2c7e/c=0-110-2121-1303/local/-/media/2020/01/06/USATODAY/usatsports/getty-parent-child-business-plan.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/-mm-/9e1f6e2ee20f44aa1f3be4f71e9f3e52b6ae2c7e/c=0-110-2121-1303/local/-/media/2020/01/06/USATODAY/usatsports/getty-parent-child-business-plan.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"Let your children know finances are an adult issue.\" data-c-credit=\"Getty Images\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Some of the most meaningful conversations we have are while we\'re emptying the dishwasher or folding towels. As you move through the upcoming days with your kids, casually introduce questions like these:</span></p>\n<ul class=\"gnt_ar_b_ul\" style=\"text-align: justify;\">\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>What do you think we will learn from this experience?</strong> Your children\'s great- grandparents (or great-great-grandparents) had The Great Depression to teach them the value of living below their means and how to prioritize anemergency fund. As you discuss finances with your kids, talk about the wisdom of saving money, how important it is to delay gratification, and the best way to use credit. Finally, ask them about the lessons they think they will take from the experience.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>What means the most to you?</strong> At the end of life, few of us will brag about the stuff we own. We will, however, be proud of the relationships we built. Now is a great time to talk to your children about what matters and what doesn\'t, to help them understand that relationships and experiences trump new toys and gadgets every time.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>How can we have fun without spending money?</strong> When financial consultant Winnie Sun wanted to teach her three young sons about having fun on a budget, she transformed the dining room table into a ping pong table. Sun pulled out old table tennis paddles and encouraged one of her sons to build a \"net\" using Legos. She also ordered seeds so the boys could plant and care for a garden in buckets in the backyard. Sun says that when her sons look back on 2020 and their shelter-at-home experience, she wants them to remember how much fun they had without spending a dime.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Would you like to help with the family budget?</strong> Invite older children to take part in family budget meetings. They already know that times are tough, but having a voice regarding the family budget can give older kids a greater sense of control, teach themhow to budget, and help them see that things will eventually get better.</span></li>\n</ul>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-4\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CODTjcr9mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_2\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" data-google-container-id=\"4\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<h2 class=\"gnt_ar_b_h2\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Take care of yourself</span></h2>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Stervinou is particularly concerned about parents with children at home, worried that they are not taking proper care of themselves. According to the longtime educator, how you take care of yourself directly impacts how well you can teach your kids about pandemics, finances, job loss, or any other life-altering circumstance.</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">\"When you\'re overwhelmed, take a step back. If you\'re frustrated because you have trouble helping your child with their schoolwork, give yourself permission to do half the work,\" she said. \"Don\'t put your frustration back on your child. Rather, modify what you\'re doing. Talk to other parents to find out how they\'re doing things, create or join a social support group, contact your child\'s teacher to ask for help. Do what you need to do to lighten the load. If you can\'t take care of you, how are you going to take care of your children?\"</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong class=\"gnt_ar_b_al\">Coronavirus comfort buying:</strong>Stress shopping is a real thing. Don’t let it hurt your finances</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong class=\"gnt_ar_b_al\">Social Security:</strong>How to plan for a smaller Social Security check</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Stervinou also recommends spending time outdoors with your kids every day. Take a walk, make chalk drawings on the sidewalk, have a picnic in the driveway or on the porch, or just play a game. \"Make sure you and the kids get enough physical activity. It\'s good for your mind and soul.\"</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">There are millions of Americans who feel adrift right now, although that reminder may offer more anxiety than comfort. The truth is, we will get through this. We may view the world in a slightly different way, but that\'s not necessarily a bad thing. If what you\'re left with after the kids are back in school and you\'re back to work is a greater sense that you want to control your own financial fate, start researching the ways you can do that. Until then, take this opportunity to teach your children the power of perseverance.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.usatoday.com/story/money/2020/06/20/how-to-talk-to-your-kids-about-financial-hardship/111979374/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How to talk to your kids about financial hardship','','inherit','closed','closed','','485-revision-v1','','','2020-06-23 22:34:01','2020-06-23 22:34:01','',485,'http://smartinsurance.tips/485-revision-v1/',0,'revision','',0),(488,1,'2020-06-23 22:33:40','2020-06-23 22:33:40','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"gnt_ar_hl\" elementtiming=\"ar-headline\" style=\"text-align: center;\"><strong>How to talk to your kids about financial hardship</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">With millions of Americans out of work due to the coronavirus pandemic, more Americans than ever are depending on unemployment benefits, loan payment assistance, and forgiving landlords to get through the month. It may be years before the total financial cost is calculated, and the emotional tally may never be known.</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">How do you tell your kids that you don\'t have enough money for necessities, much less anything extra? How do you share the truth without frightening them? Finally, is it possible to use this experience to help your children grow up into compassionate, balanced adults with a sense of what matters in life?</span></p>\n<h2 class=\"gnt_ar_b_h2\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Should you tell your kids about financial hardship?</span></h2>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Tamara Stervinou taught special education for nearly 30 years, the last 25 in Kearney, Missouri. She says that children pick up on what\'s going on around them. If you are stressed, chances are they know it. They don\'t understand why you can\'t sleep at night, so they jump to conclusions. What they imagine is often scarier than what is really going on. If you\'re wondering how to talk to your kids about financial hardship, these tips will get you started:</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-2\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CN7Tjcr9mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" data-google-container-id=\"2\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<ul class=\"gnt_ar_b_ul\" style=\"text-align: justify;\">\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Remain calm</strong>. \"Staying calm is everything,\" said Stervinou. \"A child will innately think it\'s their fault when you talk to them about money problems. Don\'t put that on them.\" Calmly explain the situation in a way that lets your kids know that you are in charge and you can handle it -- whether you feel that way or not.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Follow their lead</strong>. Do not tell them more than they want to know. One child may feel fine after hearing a single answer, while another may want to ask several follow-up questions. Stervinou reminds us that this is a confusing time for children. \"If there was a flood, kids would be able to see why they can\'t go to school or Mom and Dad can\'t go to work. They can\'t see a virus, which makes this more confusing for them.\"</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Answer in an age-appropriate way</strong>. A seven-year-old has no interest in IRAs or what the economic downturn has done to your balance. He or she wants to know why they can\'t have a new pair of shoes.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Keep it simple</strong>. Say something like, \"Mom and Dad are not working right now because of the virus. We\'re being careful with our checking account and will not be spending as much as we normally do.\"</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Offer a broad overview</strong>. Once you have told your kids that you are cutting back on spending, do not go into the weeds by offering them more details than they can absorb, and refrain from sharing your pandemic-related frustrations.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Do not \"parentify\" your children</strong>. Let them know finances are an adult issue. Their only job is to keep being great kids and to leave all other concerns to you.</span></li>\n</ul>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-3\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CN_Tjcr9mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_1\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" data-google-container-id=\"3\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<h2 class=\"gnt_ar_b_h2\" style=\"text-align: justify;\"><span style=\"color: #000000;\">What about children with special needs?</span></h2>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Whether your child has a disability, behavioral issues, or deals with anxiety, discussing financial hardship requires sensitivity. Wait to have the conversation until you can focus fully on your child. In addition, you should:</span></p>\n<ul class=\"gnt_ar_b_ul\" style=\"text-align: justify;\">\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Consider your child\'s capacity for accepting bad news</strong>. Before you say anything, think about how you will comfort and calm your child if they have an outburst. Remember, they are having a normal reaction to an atypical situation. Your job is to help them draw on the coping skills they have learned.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Do not over-share.</strong> As you would with any child, tell them just enough to answer their questions without adding to their anxiety or frustration.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Keep it simple.</strong> Stervinou says that most kids, regardless of abilities, understand what a grocery store is. Let them know that for the time being, you are trying to protect your family and other people by making trips to the grocery store -- and only the grocery store -- only when it\'s absolutely necessary.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Expect outbursts.</strong> It\'s only human for a kid to lash out when he or she is frustrated and/or afraid. \"Adults with no disabilities act out. It\'s a given that kids are going to do something to show their frustration,\" Stervinou said.</span></li>\n</ul>\n<aside class=\"gnt_em gnt_em_anc\" id=\"gnt_atomsnc\" data-g-r=\"lazy\" data-gl-method=\"loadAnc\" aria-label=\"Newsletter signup form\"><gannett-atoms-component-newsletter-cta link-newsletter=\"https://user.usatoday.com/USAT-GUP/user/newsletters/\" link-attributes=\"https://user.usatoday.com/USAT-GUP/user/attributes/\" link-help=\"https://help.usatoday.com/\" link-profile=\"https://profile.usatoday.com/newsletters/manage\" link-register=\"https://login.usatoday.com/USAT-GUP/authenticate?requested-state=create-account&amp;return-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F20%2Fhow-to-talk-to-your-kids-about-financial-hardship%2F111979374%2F&amp;cancel-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F20%2Fhow-to-talk-to-your-kids-about-financial-hardship%2F111979374%2F&amp;success-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F20%2Fhow-to-talk-to-your-kids-about-financial-hardship%2F111979374%2F&amp;reg_source=NEWSLTRCTA&amp;reg_medium=ONSITE&amp;reg_campaign=newsletters&amp;reg_delivery=atoms\" ssts=\"money\" authorized=\"false\" authenticated=\"false\" class=\"hydrated\">\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n</gannett-atoms-component-newsletter-cta></aside>\n<h2 class=\"gnt_ar_b_h2\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Teach finances through positive experiences</span></h2>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">It would be a lie to say that we can put COVID-19 behind us. In fact, many of us will always remember 2020 as the year a pandemic shut down America. Our children will remember it as well. What is it that you want your kids to recall when they look back on this time? What lessons do you hope they carry with them?</span></p>\n<figure class=\"gnt_em gnt_em_img\" style=\"text-align: justify;\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"Let your children know finances are an adult issue.\" src=\"https://www.gannett-cdn.com/-mm-/9e1f6e2ee20f44aa1f3be4f71e9f3e52b6ae2c7e/c=0-110-2121-1303/local/-/media/2020/01/06/USATODAY/usatsports/getty-parent-child-business-plan.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/-mm-/9e1f6e2ee20f44aa1f3be4f71e9f3e52b6ae2c7e/c=0-110-2121-1303/local/-/media/2020/01/06/USATODAY/usatsports/getty-parent-child-business-plan.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"Let your children know finances are an adult issue.\" data-c-credit=\"Getty Images\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Some of the most meaningful conversations we have are while we\'re emptying the dishwasher or folding towels. As you move through the upcoming days with your kids, casually introduce questions like these:</span></p>\n<ul class=\"gnt_ar_b_ul\" style=\"text-align: justify;\">\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>What do you think we will learn from this experience?</strong> Your children\'s great- grandparents (or great-great-grandparents) had The Great Depression to teach them the value of living below their means and how to prioritize anemergency fund. As you discuss finances with your kids, talk about the wisdom of saving money, how important it is to delay gratification, and the best way to use credit. Finally, ask them about the lessons they think they will take from the experience.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>What means the most to you?</strong> At the end of life, few of us will brag about the stuff we own. We will, however, be proud of the relationships we built. Now is a great time to talk to your children about what matters and what doesn\'t, to help them understand that relationships and experiences trump new toys and gadgets every time.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>How can we have fun without spending money?</strong> When financial consultant Winnie Sun wanted to teach her three young sons about having fun on a budget, she transformed the dining room table into a ping pong table. Sun pulled out old table tennis paddles and encouraged one of her sons to build a \"net\" using Legos. She also ordered seeds so the boys could plant and care for a garden in buckets in the backyard. Sun says that when her sons look back on 2020 and their shelter-at-home experience, she wants them to remember how much fun they had without spending a dime.</span></li>\n<li class=\"gnt_ar_b_ul_li\"><span style=\"color: #000000;\"><strong>Would you like to help with the family budget?</strong> Invite older children to take part in family budget meetings. They already know that times are tough, but having a voice regarding the family budget can give older kids a greater sense of control, teach themhow to budget, and help them see that things will eventually get better.</span></li>\n</ul>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-4\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CODTjcr9mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_2\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" data-google-container-id=\"4\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<h2 class=\"gnt_ar_b_h2\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Take care of yourself</span></h2>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Stervinou is particularly concerned about parents with children at home, worried that they are not taking proper care of themselves. According to the longtime educator, how you take care of yourself directly impacts how well you can teach your kids about pandemics, finances, job loss, or any other life-altering circumstance.</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">\"When you\'re overwhelmed, take a step back. If you\'re frustrated because you have trouble helping your child with their schoolwork, give yourself permission to do half the work,\" she said. \"Don\'t put your frustration back on your child. Rather, modify what you\'re doing. Talk to other parents to find out how they\'re doing things, create or join a social support group, contact your child\'s teacher to ask for help. Do what you need to do to lighten the load. If you can\'t take care of you, how are you going to take care of your children?\"</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong class=\"gnt_ar_b_al\">Coronavirus comfort buying:</strong>Stress shopping is a real thing. Don’t let it hurt your finances</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong class=\"gnt_ar_b_al\">Social Security:</strong>How to plan for a smaller Social Security check</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Stervinou also recommends spending time outdoors with your kids every day. Take a walk, make chalk drawings on the sidewalk, have a picnic in the driveway or on the porch, or just play a game. \"Make sure you and the kids get enough physical activity. It\'s good for your mind and soul.\"</span></p>\n<p class=\"gnt_ar_b_p\" style=\"text-align: justify;\"><span style=\"color: #000000;\">There are millions of Americans who feel adrift right now, although that reminder may offer more anxiety than comfort. The truth is, we will get through this. We may view the world in a slightly different way, but that\'s not necessarily a bad thing. If what you\'re left with after the kids are back in school and you\'re back to work is a greater sense that you want to control your own financial fate, start researching the ways you can do that. Until then, take this opportunity to teach your children the power of perseverance.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.usatoday.com/story/money/2020/06/20/how-to-talk-to-your-kids-about-financial-hardship/111979374/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How to talk to your kids about financial hardship','','inherit','closed','closed','','485-revision-v1','','','2020-06-23 22:33:40','2020-06-23 22:33:40','',485,'http://smartinsurance.tips/485-revision-v1/',0,'revision','',0),(490,1,'2020-06-23 22:35:45','2020-06-23 22:35:45','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"gnt_ar_hl\" elementtiming=\"ar-headline\" style=\"text-align: center;\"><strong>The best (and worst) states for older Americans, ranked</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\"></div>\n<div align=\"center\" style=\"text-align: justify;\">\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The retirement-age population in the United States is projected to nearly double between 2018 and 2060. For many Americans entering their golden years, living somewhere that is warm – or perhaps closer to family – is a top priority. While preferences like these are by no means trivial, there are parts of the country where conditions for older Americans are objectively better. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">It is important for Americans of all ages to have financial security and access to health care, but these factors take on increasing importance for older Americans. Other such factors include safe streets, availability of social venues, and reliable public transit. Some parts of the country are more likely to have these advantages than others. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Using data from sources including the U.S. Census Bureau and the Centers for Disease Control and Prevention, 24/7 Wall St. created an index of measures related to income, health, education, environment, and access to in order to identify the best and worst states for older Americans. </span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-2\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CO_gtM3_mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" srcdoc=\"\" data-google-container-id=\"2\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">One of the most important components in our index is income. Older Americans who are struggling financially may be unable to retire at age 65, even though they may want to. As of 2016, the share of Americans between ages 65 and 74 who were still in the labor force was 26.8% – up from 17.5% two decades earlier. Indeed, retirement is expensive and requires careful planning. Here is a look at what it costs to retire comfortably in every state. </span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-3\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CP7FsM3_mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_1\" width=\"3\" height=\"3\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" srcdoc=\"\" data-google-container-id=\"3\" data-load-complete=\"true\" data-integralas-id-7a2bdfb9-c526-43cc-926c-ebfe9a73a436=\"\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Another critical component of our index is health. As Americans age, remaining healthy can become increasingly difficult. States with higher life expectancies at age 65 and those where larger shares of older residents have a personal doctor or health care provider ranked better in this index. Many of these states also tend to have healthier populations in general. Here is a look at the healthiest states in America.</span></p>\n<figure class=\"gnt_em gnt_em_img\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"West Virginia.\" src=\"https://www.gannett-cdn.com/presto/2020/06/02/USAT/bda2341c-7fd3-4996-8678-7df0006c0a8f-new-river-gorge-bridge-west-virginia.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/presto/2020/06/02/USAT/bda2341c-7fd3-4996-8678-7df0006c0a8f-new-river-gorge-bridge-west-virginia.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"West Virginia.\" data-c-credit=\"BackyardProduction, Getty Images/iStockphoto\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>50. West Virginia</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 82.5 years (tied - the lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.0% (14th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 41.2% (3rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $36,147 (the lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 361,216 (20.0% - 3rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Based on our index, West Virginia ranks as the worst state in the country to grow old in, in large part because of the myriad of health issues for seniors in the state. West Virginia is one of just four states where 40% or more of residents 65 and older have a disability. The state is tied with Kentucky for having the second shortest life expectancy for people who are 65. H</span><gannett-atoms-component-newsletter-cta link-newsletter=\"https://user.usatoday.com/USAT-GUP/user/newsletters/\" link-attributes=\"https://user.usatoday.com/USAT-GUP/user/attributes/\" link-help=\"https://help.usatoday.com/\" link-profile=\"https://profile.usatoday.com/newsletters/manage\" link-register=\"https://login.usatoday.com/USAT-GUP/authenticate?requested-state=create-account&amp;return-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F17%2Fthe-best-and-worst-states-for-older-americans-ranked%2F111331626%2F&amp;cancel-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F17%2Fthe-best-and-worst-states-for-older-americans-ranked%2F111331626%2F&amp;success-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F17%2Fthe-best-and-worst-states-for-older-americans-ranked%2F111331626%2F&amp;reg_source=NEWSLTRCTA&amp;reg_medium=ONSITE&amp;reg_campaign=newsletters&amp;reg_delivery=atoms\" ssts=\"money\" authorized=\"false\" authenticated=\"false\" class=\"hydrated\"><span style=\"color: #000000; font-size: 14px; text-align: left;\">igher education is tied to empowerment, and West Virginia\'s retirement-age citizens are the least likely to have a bachelor\'s degree.</span></gannett-atoms-component-newsletter-cta></p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>49. Arkansas</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 82.9 years (tied - 6th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.2% (tied - 11th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 41.9% (2nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $37,762 (4th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 507,676 (16.8% - 22nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Access to quality public transportation can help retirement-age residents maintain their independence, particularly as declining health or eyesight means some are no longer able to drive. Using workers taking public transportation as a proxy for the state infrastructure, Arkansas\'s public transportation network is one of the most limited in the country. Less than 0.5% of workers in the state use public transportation to go to work, compared to some 5% of workers nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Like many of the states that rank as worse places to grow old, Arkansas ranks especially poorly in measures of senior health, including life expectancy at 65 and older Americans with a disability.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>48. Mississippi</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 82.6 years (3rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 12.4% (tied - 2nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 39.6% (6th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $36,415 (3rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 474,423 (15.9% - 19th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Like many of its neighbors in the South, Mississippi ranks as one of the worst states for older Americans, largely due to measures of retirement-age income, education, and health. People who are 65 today are expected to live to the age of 82.6, which is the third lowest life expectancy in the U.S. and almost two years lower than the national life expectancy at 65. Mississippi is also one of a minority of states where more than one in four seniors do not have a personal doctor or health care provider.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>47. Louisiana</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.1 years (tied - 8th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 12.4% (tied - 2nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 38.0% (8th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $36,345 (2nd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 720,610 (15.5% - 10th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Retirement-age Americans living in Louisiana are more likely to be struggling financially than those living in nearly every other state. The typical 65 and older household in the state earns just $36,345 a year, well below the national median income of retirement-age households of $44,992. Similarly, 12.4% of the state\'s 65 and older population lives below the poverty line, the second highest elderly poverty rate among states.</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-4\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CPHgtM3_mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_2\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" srcdoc=\"\" data-google-container-id=\"4\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The overall quality of life in Louisiana is also reduced by the state\'s high crime rates. Both the state\'s property and violent crime rates rank among the highest in the country.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>46. Alabama</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 82.7 years (4th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.3% (tied - 9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 39.0% (7th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $37,977 (5th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 829,663 (17.0% - 19th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Alabama ranks as one of the worst states for older Americans in several different categories in our index, including health, education, and environment. For example, the state appears to have one of the least extensive public transportation networks of any state. Seniors are vulnerable to violence and are less likely to recover, and Alabama has one of the highest violent crime rates in the country.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>45. Kentucky</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 82.5 years (tied - the lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.2% (tied - 11th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 39.7% (5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $38,254 (6th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 731,392 (16.4% - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Kentucky\'s older residents are among the least likely to be healthy compared to those in other states. There were over 4,700 deaths per 100,000 people 65 and older in the state in 2018, the second highest rate of any state. The state is also tied with West Virginia for having the second lowest life expectancy at 65 of any state. Just under 40% of state retirement-age residents have some form of disability, the fifth highest share of any state.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>44. Tennessee</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.1 years (tied - 8th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.2% (19th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 37.4% (tied - 9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $39,933 (7th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.1 million (16.3% - 23rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">For many senior citizens with deteriorating vision and reaction time, driving is not an option. This is often why older Americans may choose to live in areas with reliable public transportation. In Tennessee, however, public transit may be harder to rely on as just 1.3% of workers commute using public transportation or walk, well below the 7.5% share of commuters nationwide and likely indicative of a poor transit system.</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-5\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CPLgtM3_mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_3__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_3\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_3\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" srcdoc=\"\" data-google-container-id=\"5\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The overall quality of life in Tennessee is also reduced by high crime rates. The concentration of violent crimes in the state is the third highest in the country, and the property crime rate ranks 10th highest among states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>43. Oklahoma</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 82.9 years (tied - 6th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.7% (tied - 25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 42.6% (the highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $40,928 (10th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 619,601 (15.7% - 15th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Based on the measures used in the index, Oklahoma has the least healthy retirement-age population in the country. Of all residents in the state who are at least 65, a nation-highest 42.6% have some form of disability, compared to a national share of 33.9%. The state also has the highest annual mortality rate for seniors, with 4,715 deaths per 100,000 people 65 and over, nearly 700 deaths above the national rate.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The state also appears to have a relatively weak public transportation network – an important factor in independence for people 65 and older.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>42. Nevada</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.9 years (tied - 18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.8% (15th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.6% (tied - 25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $46,406 (16th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 475,120 (15.7% - 13th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Nevada\'s ranks as the second worst state in measures of environment and access in our index. Notably, the state has the smallest concentration of social associations per person 65 and over, as well as one of the highest violent crime rates in the country. Additionally, more than 30% of Nevada\'s seniors do not have a doctor or personal health care professional.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>41. Texas</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.2 years (tied - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 11.1% (6th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 36.4% (tied - 12th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $44,319 (22nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 3.6 million (12.5% - 3rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Retirement-age Americans are more likely to be struggling financially in Texas than in the vast majority of other states. Of the 65 and older population in Texas, 11.1% live below the poverty line, a larger share than in all but five other states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Senior citizens in Texas are also more likely to have to rely on a personal vehicle for transportation than most older Americans. Just 2.8% of commuters in the state use public transportation or walk, well below the 7.5% share of commuters nationwide.</span></p>\n<figure class=\"gnt_em gnt_em_img\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"Missouri.\" src=\"https://www.gannett-cdn.com/presto/2020/06/02/USAT/fe7cb3fc-e833-46e4-a1c5-e6449fb7c342-imageforentry11-6kv.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/presto/2020/06/02/USAT/fe7cb3fc-e833-46e4-a1c5-e6449fb7c342-imageforentry11-6kv.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"Missouri.\" data-c-credit=\"Source: JTGrafix / Getty Images\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>40. Missouri</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.6 years (14th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.2% (19th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 36.4% (tied - 12th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $41,038 (11th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.0 million (16.9% - 21st highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Missouri ranks among the worst states for seniors in measures of income and health. The state has a below average life expectancy at 65 and an above average share of retirement-age residents with a disability. The state also has relatively high property and violent crime rates, which reduces overall quality of life.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>39. New Mexico</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.7 years (tied - 13th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 13.3% (the highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 40.0% (4th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $39,989 (8th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 368,480 (17.6% - 12th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">In New Mexico, only 42.2% of 65 and older households have retirement income in the form of a 401(k), pension, or similar source, lower than the nationwide share of 48.5% of retirement-age households. The smaller share of older residents with a steady income likely contributes to the state\'s high poverty rate among the 65 and older population. A staggering 13.3% of retirement-age New Mexico residents live below the poverty line, the highest rate of any state and well above the 9.4% national rate.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>38. Indiana</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.4 years (11th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.9% (tied - 16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.9% (15th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $41,342 (13th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.1 million (15.7% - 14th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">For Indiana\'s retirement-age population who can no longer drive, getting around is likely more difficult than it is for senior people in much of the rest of the country. Just 2.8% of commuters in the state use public transit, well below the 7.5% national average. Low usage rates can be indicative of inaccessible, unreliable, or underdeveloped public transportation infrastructure.</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-6\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CPPgtM3_mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_4__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_4\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_4\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" srcdoc=\"\" data-google-container-id=\"6\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Life expectancy for those at age 65 in the state is also lower than average. Life expectancy for those turning 65 years old in Indiana is an additional 18.4 years to 83.4 years, lower than in most states and a year below the national average.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>37. Ohio</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.2 years (9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.6% (tied - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.1% (tied - 18th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $41,406 (15th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 2.0 million (17.1% - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Ohio compares relatively well to other states in terms of senior income. Close to 55% of state residents 65 or older have some form of retirement income in the form of a 401(k), pension, or similar source, which is well above the 48.5% share nationwide, and the state\'s poverty rate among retirement-age residents is lower than the national rate.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">However, Ohio\'s older residents are more likely than most to be in poor health. The state has one of the highest annual mortality rates among residents 65 or older, and Ohio ranks among the 10 worst states in life expectancy at 65.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>36. South Carolina</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.3 years (10th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.5% (16th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.3% (tied - 16th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,161 (17th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 899,754 (17.7% - 10th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">For South Carolina residents who are 65 years old, average life expectancy is an additional 18.3 years to 83.3, more than a year below the national average of 84.4. The state\'s retirement-age population is also more likely to be suffering from a disability than those in most other states.</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-7\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CPTgtM3_mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_5__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_5\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_5\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" srcdoc=\"\" data-google-container-id=\"7\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Still, likely due in part to the state\'s warm climate, South Carolina is a popular place for older Americans. The retirement-age population of nearly 900,000 accounts for 17.7% of the state\'s total population, a larger than average share. Additionally, 2.2% of older adults in the state moved there in the last year, a larger share than in all but a handful of other states.</span></p>\n<aside class=\"gnt_em gnt_em_cp\" aria-label=\"You may also be interested in\" data-c-cta=\"DIG DEEPER\">\n<div class=\"gnt_em_cp_cw\">\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>35. Georgia</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.5 years (tied - 13th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.2% (tied - 11th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.0% (tied - 20th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,781 (22nd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.5 million (13.8% - 4th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">For older residents, Georgia compares favorably to many other states in the South, but it still ranks poorly relative to national averages. The state ranks relatively poorly in measures of senior health, with a below-average life expectancy at 65. It also has one of the highest shares of retirement-age residents who do not have a personal doctor or health care provider.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The state has one of the smaller senior populations in the country relative to the general population – just 13.8% of residents are 65 or older.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>34. Idaho</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.4 years (tied - 23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.6% (tied - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 35.3% (14th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,678 (20th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 279,441 (15.9% - 20th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Remaining socially engaged through retirement can greatly improve quality of life. In Idaho, however, that may be more difficult than in other states. There are only 45.5 social organizations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – for every 100,000 65 and older residents in Idaho, well below the national concentration of 58.0 per 100,000.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Still, older Idaho residents are more likely than most older Americans to own a home and maintain independence. The homeownership rate among 65 and older Idaho residents is 83.6% – higher than in all but a handful of other states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>33. Florida</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.3 years (tied - 5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.6% (7th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 32.8% (18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $43,804 (24th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 4.4 million (20.5% - 2nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Florida is known as a state that many senior citizens choose to move to in retirement. Just over 20% of state residents are 65 and older, the second highest share in the country after Maine. Still, while Florida\'s older population is more likely to find people their own age, they are also more likely to face financial difficulties. A relatively small share of the state\'s 65 and over population have some form of retirement income, less than in most other states, and the state\'s poverty rate among 65 and older residents of 10.6% is the seventh highest among states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>32. Michigan</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.9 years (tied - 18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.0% (tied - 22nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.1% (tied - 18th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,816 (23rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.7 million (17.2% - 15th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">In the senior income segment of our index, Michigan ranks favorably compared to most states. About 57% of state retirement-age households have some form of retirement income, the second highest share of any state. Michigan also has a below average senior poverty rate.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">In measures of environment and access for older residents, the state does not perform as well. The state has a relatively low concentration of social associations per 65 and over resident and relatively few hospitals per capita.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>31. North Dakota</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.5 years (tied - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.3% (tied - 9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.4% (22nd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $44,824 (21st highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 116,433 (15.3% - 7th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Just 37.5% of 65 and older households in North Dakota have some have retirement income in the form of a 401(k), pension, or similar source, the smallest share of any state. Likely partially as a result, the state\'s 10.3% elderly poverty rate is higher than average.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Still, quality of life for the state senior citizens is bolstered by the highest concentration of hospitals and the highest concentration of social associations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – of any state.</span></p>\n<figure class=\"gnt_em gnt_em_img\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"North Carolina.\" src=\"https://www.gannett-cdn.com/-mm-/b2b05a4ab25f4fca0316459e1c7404c537a89702/c=0-0-1365-768/local/-/media/2020/02/18/USATODAY/usatsports/imageforentry21-5ar.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/-mm-/b2b05a4ab25f4fca0316459e1c7404c537a89702/c=0-0-1365-768/local/-/media/2020/02/18/USATODAY/usatsports/imageforentry21-5ar.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"North Carolina.\" data-c-credit=\"Sean Pavone / Getty Images\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>30. North Carolina</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.9 years (tied - 18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.7% (tied - 25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.3% (tied - 16th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $41,169 (12th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.7 million (16.3% - 22nd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Senior citizens in North Carolina are slightly less likely to be struggling financially than those in much of the rest of the country. The poverty rate among the state\'s 65 and older population is 8.7%, compared to the 9.4% national 65 and over poverty rate.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Disadvantages for the state\'s older population include inaccessible, unreliable, or underdeveloped public transportation infrastructure, as evidenced by low usage rates. Just 2.8% of commuters in the state use public transit, well below the national average of 7.5%.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>29. Pennsylvania</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.0 years (tied - 20th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.3% (20th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.2% (21st lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $41,762 (16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 2.3 million (18.2% - 8th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">There are more than 2.3 million retirement-age Pennsylvania residents, more than in all but four other states. The state\'s older residents benefit from a higher than average concentration of hospitals as well as social associations, such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Still, just 15.1% of older Pennsylvania residents have their own doctor or health care provider, which can improve the quality of care received and can be critical in old age. Life expectancy at age 65 in Pennsylvania is also shorter than it is in most other states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>28. Arizona</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.1 years (8th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.6% (tied - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.6% (tied - 25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $46,152 (17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.3 million (17.6% - 13th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Financial security can be critical to quality of life, and Arizona\'s older population is more likely than most 65 and older Americans to have retirement income in the form of a 401(k), pension, or similar source and less likely to live below the poverty line.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">While the state may be an attractive option for many older Americans looking to retire in a warmer climate, remaining social into old age may be harder in Arizona than most other states. The state has a relatively low concentration of social associations like clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations just 31.6 per 100,000 65 and older residents, well below the national concentration of 58.0 per 100,000.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>27. Wisconsin</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.7 years (tied - 13th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.9% (tied - 16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 30.6% (4th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $41,362 (14th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 986,483 (17.0% - 20th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Wisconsin\'s seniors tend to have relatively low incomes. The median annual household income for 65 and older households is $41,362, which is roughly $3,600 below the comparable national median income. However, a relatively small 7.9% of 65 and older residents live in poverty in the state, compared to the comparable national poverty rate of 9.4%.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Just 30.6% of retirement-age residents in the state have some form of disability, the fourth smallest share among states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>26. Illinois</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.5 years (tied - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.8% (24th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 32.0% (16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $44,955 (19th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 2.0 million (15.6% - 12th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Access to quality public transportation can help seniors maintain their independence, particularly as declining health or eyesight means some are no longer able to drive. Using the share of workers who commute by taking public transportation as a proxy for the quality and reach of the state\'s public transit, Illinois has one of the widest reaching public transportation networks of any state. In several of the categories considered for this index, including education and environment and access, the state ranks approximately in the middle of all states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>25. Iowa</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.5 years (tied - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.1% (6th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.1% (tied - 9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,995 (25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 537,818 (17.0% - 18th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Remaining socially engaged through retirement can greatly improve quality of life – and in Iowa, doing so is likely easier than in other states. There are 84.5 social organizations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – for every 100,000 65 and older residents in Iowa, the fifth highest concentration among states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>24. Rhode Island</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.6 years (tied - 15th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 11.2% (5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 32.4% (17th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,424 (19th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 182,645 (17.3% - 14th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Rhode Island ranks relatively poorly in the income category of our index gauging the best states for older Americans. With 11.2% of residents 65 and over living in poverty, the state has one of the highest senior poverty rates of any state.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">However, in other categories, such as health and education, it ranks better than the majority of states for older Americans.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>23. California</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.7 years (2nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.5% (8th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.5% (23rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $54,272 (6th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 5.7 million (14.3% - 6th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Life expectancy at age 65 in California is an additional 20.7 years to 85.7 years, the second highest among states and higher than the additional 19.4 years national average. Life expectancy in the state is high despite a lower than average share of older state residents who have their own doctor or health care provider and a lower than average concentration of hospitals.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Additionally, while the median income among retirement-age households in California of $54,272 is higher than in most states. Also, the state\'s high cost of living means a dollar does not go as far. Goods and services in California are about 15% more expensive on average than they are nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>22. Nebraska</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.4 years (tied - 23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.6% (tied - 12th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.7% (24th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,851 (24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 303,998 (15.8% - 16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Only 41.3% of 65 and older households in Nebraska have some form of retirement income, the third lowest share of any state. Still, Nebraska\'s 65 and older poverty rate of 7.6% is lower than most states and the 9.4% national average. The greater financial security among the state\'s older population is likely due in part to a low cost of living. Good and services are about 10% less expensive on average in Nebraska than they are nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>21. Maine</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.7 years (15th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.1% (tied - 20th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.8% (23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $40,435 (9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 276,069 (20.6% - the highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Maine has the lowest violent crime rate of any state in the U.S. and the fourth lowest property crime rate, which improves overall quality of life. The state also has one of the lowest shares of 65 and older residents who do not have a doctor or health care provider, at 14.8% compared to the national share of 22.8%.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">However, Maine compares poorly to most states in the senior income section of our index. Just under 45% of retirement-age households in the state have some form of retirement income such as a pension or 401(k), tied with Oklahoma as the ninth smallest share among states.</span></p>\n<figure class=\"gnt_em gnt_em_img\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"Wyoming.\" src=\"https://www.gannett-cdn.com/-mm-/d8d0774057d19139d16e6ede624d76e89947662d/c=1-0-1365-767/local/-/media/2020/02/18/USATODAY/usatsports/247WallSt.com-247WS-646213-imageforentry5-4tu.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/-mm-/d8d0774057d19139d16e6ede624d76e89947662d/c=1-0-1365-767/local/-/media/2020/02/18/USATODAY/usatsports/247WallSt.com-247WS-646213-imageforentry5-4tu.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"Wyoming.\" data-c-credit=\"Dean_Fikar / Getty Images\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>20. Wyoming</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.2 years (tied - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.3% (tied - 9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.9% (22nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $44,870 (20th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 96,557 (16.7% - 23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">In Wyoming, almost one-third of 65 and older residents do not have a personal doctor or health care provider, the largest share of any state after Alaska. However, the state ranks relatively well in other measures of our index, notably the category that measures environment and access. The state has one of the higher concentrations of social associations per 65 and older citizens.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>19. South Dakota</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.4 years (tied - 23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.0% (tied - 22nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.2% (tied - 11th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,361 (18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 146,358 (16.6% - 24th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Access to public transportation can be important for older Americans who are unable to drive and rely on transit for mobility and independence. Compared to other states, South Dakota\'s public transportation system is relatively small. Just 0.2% of workers in the state take public transportation or walk to work.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The state ranks well, however, in some other measures of quality of life for seniors. For example, the state has the second highest concentration of social organizations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – per 65 and older resident.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>18. Kansas</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.0 years (tied - 20th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.0% (tied - 18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 36.5% (11th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,989 (25th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 462,191 (15.9% - 18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">High crime rates. There were 439.0 violent crimes per 100,000 people in the state in 2018 and 2,633.9 property crimes per 100,000 – each higher than the national averages of 380.6 per 100,000 and 2,199.5 per 100,000, respectively.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Still, by several measures, senior citizens in the state are doing better than most of their counterparts nationwide. For example, just 8.0% of Kansas residents 65 and older live below the poverty line compared to 9.4% of retirement-age Americans nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>17. New York</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.6 years (3rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 11.8% (4th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.5% (12th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $45,302 (18th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 3.2 million (16.4% - 25th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Access to quality public transportation can help older Americans maintain their independence, particularly as declining health or eyesight means some are no longer able to drive. Using the share of workers who take public transportation as a proxy for the quality and reach of the state\'s transit system, New York has the widest reaching public transportation networks of any state – with 28% of commuters statewide relying on it.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">By other measures, senior citizens in New York are at a disadvantage. For example, 11.8% of the state population 65 and older lives below the poverty line, a larger share than in all but three states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>16. Montana</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.5 years (tied - 13th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.4% (17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.9% (tied - 15th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,745 (21st lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 200,239 (18.8% - 5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Retirement-age adults in Montana are less likely to have a personal doctor or health care provider than most Americans 65 and older. Still, obtaining health care when necessary may not be as difficult for older Montana residents as the state has a far higher per capita concentration of hospitals than the national average.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Remaining socially engaged through retirement can greatly improve quality of life, and in Montana, doing so is likely easier than in other states. There are 74.9 social organizations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – for every 100,000 65 and older residents in Montana, compared to 58.0 per 100,000 nationwide.</span></p>\n<aside class=\"gnt_em gnt_em_cp\" aria-label=\"WFH? We got you\" data-c-cta=\"DIG DEEPER\">\n<div class=\"gnt_em_cp_cw\"></div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>15. Oregon</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.5 years (tied - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.9% (tied - 16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.6% (tied - 25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $47,314 (14th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 739,611 (17.6% - 11th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Older Oregon residents are more likely to be financially secure than the typical retirement-age American. The median income among 65 and older households in the state is $47,314, slightly higher than the comparable national median of $44,992. Additionally, the poverty rate among Oregon\'s 65 and older population is just 7.9%, lower than the 9.4% poverty rate among elderly Americans nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>14. New Jersey</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.3 years (5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.0% (tied - 18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 30.0% (2nd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $53,637 (8th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.4 million (16.1% - 21st lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Despite a far higher than average cost of living, New Jersey\'s retirement-age population is more likely to be financially secure than most older Americans. The typical retirement-age household has an annual income of $53,637, well above the $44,992 comparable national median. Additionally, just 8.0% of New Jersey residents 65 and older live below the poverty line compared to the 9.4% national poverty rate among older Americans.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Life expectancy is also higher than average in the Garden State. For New Jersey residents who are 65 years old, life expectancy is 85.3 years, nearly a year longer than the national average life expectancy at 65.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>13. Minnesota</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.3 years (tied - 5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.6% (tied - 12th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 30.9% (tied - 7th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $47,054 (15th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 888,634 (15.8% - 17th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Minnesota\'s eldery population ranks among the healthiest in the United States. Life expectancy at age 65 in the state is an additional 20.3 years to 85.3 years, nearly a year longer than the national average. The state\'s elderly population is also far less likely to be struggling financially than most older Americans as just 7.6% of retirement-age Minnesota residents live below the poverty line, well below the comparable national rate of 9.4%.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Quality of life in Minnesota is also boosted by low crime rates. Both the state\'s violent crime rate and property crime rate are lower than the comparable national averages.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>12. Alaska</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.1 years (21st lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 6.7% (5th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 37.4% (tied - 9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $59,339 (3rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 88,000 (11.9% - 2nd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Incomes are higher for retirement-age households in Alaska than they are in nearly every other state. The median household income of 65 and older households in the state is $59,339, about $14,000 more than the median nationwide. Additionally, Alaska\'s 65 and over poverty rate of just 6.7% is the fifth lowest among states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Remaining socially engaged through retirement can greatly improve quality of life – and in Alaska, doing so is likely easier than in other states. There are 95.5 social organizations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – for every 100,000 65 and older residents, compared to 58.0 per 100,000 nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>11. Delaware</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.4 years (tied - 23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 6.1% (tied - 3rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 30.9% (tied - 7th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $54,744 (4th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 180,756 (18.7% - 6th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Like many of the states ranking highly on this list, Delaware\'s elderly population is more likely to be financially secure than most older Americans. The typical 65 and older household in Delaware earns $54,744 a year, more than in all but three other states. Additionally, just 6.1% of the state\'s 65 and older population lives below the poverty line, well below the 9.4% national poverty rate for older Americans. Life expectancy for those who are 65 in the state is an additional 19.4 years to 84.4, in line with the national average life expectancy at 65.</span></p>\n<figure class=\"gnt_em gnt_em_img\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"Virginia.\" src=\"https://www.gannett-cdn.com/-mm-/d8d0774057d19139d16e6ede624d76e89947662d/c=1-0-1365-767/local/-/media/2020/02/18/USATODAY/usatsports/imageforentry10-esm.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/-mm-/d8d0774057d19139d16e6ede624d76e89947662d/c=1-0-1365-767/local/-/media/2020/02/18/USATODAY/usatsports/imageforentry10-esm.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"Virginia.\" data-c-credit=\"Sean Pavone / Getty Images\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>10. Virginia</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.5 years (tied - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.4% (21st lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.1% (20th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $51,401 (11th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.3 million (15.5% - 11th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Virginia\'s high ranking is due in part to its high quality of life, bolstered by low crime rates. Both Virginia\'s violent and property crime rates fall well below the comparable national averages.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Remaining socially engaged through retirement can greatly improve quality of life – and in Virginia, doing so is likely easier than in other states. There are 73.1 social organizations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – for every 100,000 65 and older residents, compared to 58.0 per 100,000 nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>9. Vermont</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.8 years (12th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.3% (18th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.9% (tied - 15th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $44,302 (23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 123,875 (19.8% - 4th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">In the income component of our index, Vermont ranks poorly compared to most states, in part due to the fact that only 41.9% of senior households have some form of retirement income like a pension or 401(k), the fourth lowest share among states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">However, life for older citizens in Vermont is comparably good by many other measures, including access, education, and health. In the state, just 14.3% of 65 and older residents lack a personal doctor or health care provider, the fourth lowest share of any state.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>8. Washington</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.9 years (tied - 10th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.2% (7th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.0% (tied - 20th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $52,150 (9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.2 million (15.4% - 9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">For many senior citizens with deteriorating vision and reaction time, driving is not an option. This is often why older Americans may choose to live in areas with reliable public transportation. In Washington, public transit is likely easier to rely on as 10.7% of workers commute using public transportation or by walking, above the 7.5% share of commuters nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Life expectancy at age 65 in Washington is also higher than average. The typical 65 year old in Washington is expected to live to be 84.9 years old, about half a year above the national average.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>7. Massachusetts</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.9 years (tied - 10th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.1% (tied - 20th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.2% (tied - 11th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $49,756 (13th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.1 million (16.5% - 25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Massachusetts ranks as one of the best states in the country in measures of senior education and health. A higher than average 35% of the state\'s 65 and over residents have a bachelor\'s degree, which can be tied to empowerment.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Additionally, the state has among the highest life expectancy at 65. This high life expectancy may be partly related to the fact that only 13.3% of retirement-age residents in the state do not have a personal doctor or health care provider, the lowest share nationwide and significantly lower than the national share of 22.8%.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>6. Utah</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.5 years (tied - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 6.1% (tied - 3rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 32.9% (19th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $53,670 (7th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 351,297 (11.1% - the lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Utah does not rank quite as well as some of the other best states for older Americans in measures of individual health, but it ranks as one of the best in the education and income categories of our index. It is one of just four states where over 55% of 65 and older households have some form of retirement income like a pension or 401(k) compared to a national share of 48.5%. Also, just 6.1% of Utah\'s retirement-age population lives below the poverty level, the third smallest share of any state.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>5. Connecticut</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.4 years (4th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.9% (tied - 16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 29.4% (the lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $54,629 (5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 613,147 (17.2% - 16th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Connecticut has one of the healthier senior populations in the country. The state has a relatively high life expectancy at 65. It is also the only state in the country where less than 30% of the retirement-age population has a disability of some kind. The state also has the fifth highest median household income for those 65 and and older at $54,629.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>4. New Hampshire</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.2 years (tied - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 5.5% (the lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 30.5% (3rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $50,240 (12th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 245,156 (18.1% - 9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">In New Hampshire, just 5.5% of the senior population lives below the poverty line, the smallest share of any state and well below the national poverty rate of 9.4% among Americans 65 and older. New Hampshire also has one of the smallest shares of retirement-age residents with a disability. Just 13.8% of the state\'s older residents do not have a personal doctor or health care provider, the second lowest share of any state. New Hampshire also has one of the lowest violent crime rates and the lowest property crime rate in the country.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>3. Hawaii</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 86.5 years (the highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 6.5% (4th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.7% (13th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $65,078 (the highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 261,467 (18.4% - 7th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">No state ranks better in the health category of our index than Hawaii. People who are 65 in the state can be expected to live to an average age of 86.5 years, longer than any other state and more than two years longer than the national average life expectancy at 65.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">While goods and services tend to be very expensive in the state, the typical 65 and older household has an income of $65,078, the highest in the country and over $20,000 higher than the national median income for 65 and over households. Hawaii\'s 6.5% poverty rate among retirement-age residents is fourth lowest in the country.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>2. Maryland</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.6 years (tied - 15th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.3% (tied - 9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 30.7% (5th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $59,536 (2nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 931,041 (15.4% - 8th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">While Maryland compares unfavorably to most states in the environment and access component of our index, it ranks as one of the best in the education, income, and health components. Notably, the state has the second highest median income among 65 and over households and the second highest bachelor\'s degree attainment rate among retirement-age residents.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>1. Colorado</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.0 years (9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.4% (10th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.1% (tied - 9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $51,537 (10th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 807,855 (14.2% - 5th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Colorado ranks as the best state in the country to live for older Americans. Nearly 40% of the state\'s 65 and older population has a bachelor\'s degree, the highest share of any state. The state has one of the lowest senior poverty rates. When it comes to the health of the retirement-age population, the state has one of the smallest shares of 65 and over residents with a disability as well as the third lowest annual mortality rate for residents 65 and over.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>Methodology</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">To determine the best and worst states in which to grow old, 24/7 Wall St. created an index of various measures related to the income, health, education, and environment of the elderly population aged 65 and over in all 50 states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">To construct the indices we used the min-max normalization method. For reference, a similar methodology was used in constructing HelpAge International’s Global AgeWatch Index and the United Nations’s Human Development Index.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>Income</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The percentage of elderly households with supplemental retirement incomes, such as 401(k)s and pensions, as well as poverty rates and median household income for the 65 and over population are one-year estimates from the U.S. Census Bureau’s 2018 American Community Survey. Additionally, as a measure of cost of living, we considered data on regional price parity in 2017 from the Bureau of Economic Analysis.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>Health</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The percentage of non-institutionalized people 65 and over with a disability came from the ACS. We also included life expectancy after the age of 65 from the Institute for Health Metrics and Evaluation’s Global Health Data Exchange for 2017; the percentage of adults who reported having a personal doctor in 2018 from the Kaiser Family Foundation; and the crude elderly mortality rate per 100,000 people 65 and over in each state in 2018, also from the CDC.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>Education</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The share of people 65 and over with a bachelor’s degree or higher came from the ACS.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>Environment and Accessibility</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">2018 violent crime rates came from the FBI’s Uniform Crime Report, and the share of workers who walk or use public transportation is from the ACS, which is meant to be a proxy for the reach and quality of public transportation within the state. The concentration of social establishments – civic organizations, bowling centers, golf clubs, fitness centers, sports organizations, religious organizations, political organizations, labor organizations, business organizations, and professional organizations – as well as the number of hospitals in the state came from County Business Patterns and are for 2017. Establishment data was adjusted for the number of residents 65 and over using population data from the ACS.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.usatoday.com/story/money/2020/06/17/the-best-and-worst-states-for-older-americans-ranked/111331626/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','The best (and worst) states for older Americans, ranked','','publish','closed','closed','','the-best-and-worst-states-for-older-americans-ranked','','','2020-06-23 22:50:57','2020-06-23 22:50:57','',0,'http://smartinsurance.tips/?page_id=490',0,'page','',0),(491,1,'2020-06-23 22:35:45','2020-06-23 22:35:45','<!-- wp:divi/placeholder /-->','The best (and worst) states for older Americans, ranked','','inherit','closed','closed','','490-revision-v1','','','2020-06-23 22:35:45','2020-06-23 22:35:45','',490,'http://smartinsurance.tips/490-revision-v1/',0,'revision','',0),(538,1,'2020-07-16 20:17:53','2020-07-16 20:17:53','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>How to Retire During a Pandemic</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\"></div>\n<div align=\"center\"><span style=\"color: #000000;\"><img src=\"https://www.usnews.com/dims4/USNEWS/4f19659/2147483647/crop/2000x1313%2B0%2B0/resize/640x420/quality/85/?url=http%3A%2F%2Fmedia.beam.usnews.com%2F90%2F63%2Fdeb4642d4a2fb6913ad3dea4431b%2F200715-retireemask-stock.jpg\" alt=\"Woman commuter working outdoors in park in city.\" style=\"float: left;\" /></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\">\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><span class=\"lede\">IMAGINE IF YOU DECIDED </span>in January that you were ready for a new phase in your life. </span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000; font-size: 14px;\">By December, you were going to retire once and for all.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000; font-size: 14px;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p><span style=\"color: #000000;\">You had promised yourself it would happen every year for a while now, but a decadelong bull run in the stock market and a company 401(k) match made walking away difficult.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p><span style=\"color: #000000;\">2020 would be your year, though. It was finally time to retire.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p><span style=\"color: #000000;\">Then a global pandemic began.</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\">\n<p style=\"text-align: right;\"> </p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\" style=\"text-align: right;\"><span style=\"color: #000000;\">The Year So Far</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p><span style=\"color: #000000;\">It\'s not just would-be retirees who\'ve had to make some tough investment decisions this year.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p><span style=\"color: #000000;\">The market has been impossible to predict, as the S&amp;P 500 dropped a gut-wrenching 30% between January 1 and March 23 before recovering the entirety of those losses by mid-July.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">No one could\'ve foreseen what would happen in 2020, and no one knows what the second half of the year will bring. While that presents a number of conundrums for the average investor, for those on the verge of retirement, there\'s really just one big question: What should you do?</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">It\'s usually easy enough to answer that question.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div data-ad-collide=\"false\" spacing=\"5\" class=\"Box-w0dun1-0 placeAds__InArticleSpace-sc-1q5ympa-1 hIqQMB Hide-kg09cx-0 wTbeK\">\n<div class=\"Box-w0dun1-0 placeAds__InArticleAd-sc-1q5ympa-0 lbDnxr\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 UueCe\"></div>\n</div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">One broad rule of thumb for building your retirement portfolio is to allocate 60% to stocks and 40% to bonds, with that ratio slowly leaning less toward risky stocks and more toward the safety of bonds as you age.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">That said, the standard answer to that age-old question seems to have changed recently.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Bond yields have only gotten lower over the last few years, with yields on 10-year Treasury and 30-year Treasury bonds hitting all-time lows in March. Meanwhile, last quarter, stocks roared higher in a rally that saw the markets enjoy their best quarter in over 20 years, and the Nasdaq has enjoyed a breakout year as retail traders have piled into tech stocks.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">With all that in mind, there are more questions to ask.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Should older investors flee to bonds, or try to catch the wave in the stock market? Should they pull all their savings and make a break for it, or stick around and see what happens?</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">In a world that has gone topsy-turvy – where the usual rules don\'t apply and the market has never been less predictable – what should an investor on the verge of retirement do?</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\"><span style=\"color: #000000;\">Everyone Has a Retirement Plan Until the Unexpected Hits</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">For some, that question will be answered for them.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Companies squeezed by the pandemic have begun cutting their employees, and older workers who are at higher risk may not feel comfortable returning to their offices and potentially exposing themselves to the virus.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">The combination has seen the rate of early retirements rise this year as older workers sidestep the problems in the office entirely and begin to enjoy their golden years.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">While retirees may no longer have full control over when they\'ll exit the workforce, the fate of their investment portfolios is still in their own hands.</span></p>\n</div>\n<div data-ad-collide=\"true\" spacing=\"5\" class=\"Box-w0dun1-0 placeAds__InArticleSpace-sc-1q5ympa-1 ifnChL Hide-kg09cx-0 wTbeK\">\n<div class=\"Box-w0dun1-0 placeAds__InArticleAd-sc-1q5ympa-0 cisOSB\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 kJLhlN\"></div>\n</div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">The problem is that a crisis like the one we\'re facing can make even the boldest investors blink, and older investors may begin to withdraw from their accounts out of panic. That is the wrong answer, says Greg Klingler, director of wealth management for the Government Employees\' Benefit Association (GEBA).</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">\"There\'s definitely been a heavy influx of calls from and meetings with soon-to-be retirees and new retirees who are worried about the recent downturn in the market over the last quarter,\" Klingler says. \"Many ask if they should cut their losses and pull out of the market altogether – the reality is that if you have a properly diversified portfolio that aligns with your investment time horizon, this is probably the worst thing that you can do because you\'re selling low.\"</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Klinger has done his research on exactly how quickly markets have recovered in the past.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">\"Based on the measurement of each recovery since 1900, the average recovery time for bear market (a downward swing of 20% or more) equities to return to bull market levels is about 3.2 years. So while you and your financial advisor should periodically assess and carefully consider rebalancing your portfolio, it\'s essential to remind yourself that you\'re investing for the long term.\"</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Paul Deer, director of advisory services at Personal Capital, agrees.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">\"Once you have a personalized, diversified portfolio in place, the hard work is done, but a critical step remains: rebalancing. Rebalancing is key to capturing gains in your portfolio, while maintaining your risk exposure,\" Deer says. \"If stocks had a good year, rebalancing will force you to take profit, and allocate those funds to another area of the portfolio. That way, when stocks take a dive, you\'ve already taken some gains off the table. Given enough time, this can have a tremendous positive impact on an investor\'s net worth.\"</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Deer hits on one of the biggest problems that retirees who depend on investment income experience: time.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">In fact, most investors have plenty of time; the average American lifespan is longer than ever, meaning investors have to make their money last longer than ever during retirement.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Many Americans were already retiring earlier than they planned before the pandemic, and it seems likely that many will begin their retirement even earlier this year, which means they\'ll have to stretch their retirement income longer.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">That\'s why choosing to cash out now will only hurt you in the long run, as Kei Sasaki, regional chief investment officer for Wells Fargo Private Bank in the Northeast, explains.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div data-ad-collide=\"true\" spacing=\"5\" class=\"Box-w0dun1-0 placeAds__InArticleSpace-sc-1q5ympa-1 ifnChL Hide-kg09cx-0 wTbeK\">\n<div class=\"Box-w0dun1-0 placeAds__InArticleAd-sc-1q5ympa-0 cisOSB\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 kJLhlN\"></div>\n</div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">\"If the market takes a sharp dive close to your retirement, it\'s understandable to experience fear and a temptation to sell and go to cash. In many cases, this would be the wrong decision,\" Sasaki says. \"By going to cash, you will \'lock in\' the value of the portfolio net of the market price decline. The downside of this strategy is that cash is earning nothing, and actually losing money after adjusting for inflation. This downside becomes magnified if the retirement period is long.\"</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\"><span style=\"color: #000000;\"></span></h3>\n<h3 class=\"heading-large\"><span style=\"color: #000000;\">Retirement Investing in a Pandemic: What Should You Do?</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Staying the course and remaining invested is the right move, but what\'s the best way for these would-be retirees to invest? Should they lean more toward stocks or bonds?</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">\"Neither,\" says Deer. \"Don\'t time the market by trying to pinpoint the ideal asset classes. You can set yourself up for success by establishing a personalized strategy that is designed to provide you with the right balance between growth and stability, regardless of the economic cycle.\"</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">He adds, \"For near retirees, this will generally mean keeping a diversified portfolio with a mix of stocks, bonds and alternative investments. The better diversified you are, the better prepared you are to weather whatever the markets bring next.\"</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">\"Retirement is an era that can last 30-plus years for clients,\" notes Michael Pappachristou, wealth advisor at RegentAtlantic Capital. \"That\'s a long time to overcome short-term volatility. Having equities in portfolios provides the growth that many clients need to make their portfolio last throughout their lifetime. Adding fixed income investments provides (a) cushion against market swings, as well as liquidity to cover expenses.\"</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Building a diversified portfolio, rebalancing as needed and sticking to your overall plan are essential for surviving a wild 2020, but there\'s one truly essential piece of advice every financial planner will tell you: Don\'t panic.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Cashing out on a lifetime of investing gains due to fear will not help you retire with any additional peace of mind. In fact, investors who got out of the market during the first quarter\'s sell-off are probably more concerned than anyone now that they missed out on an incredible rebound.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Sticking to your guns has never been as difficult as it is today, but it might just be the key to your long-term financial health.</span></p>\n<p>&nbsp;</p>\n</div>\n<p><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.investopedia.com/articles/pf/09/avoid-five-recession-risks.asp\">click here</a><span style=\"color: #000000;\">.</span></span></p>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How to Retire During a Pandemic','','publish','closed','closed','','how-to-retire-during-a-pandemic','','','2020-07-16 20:22:19','2020-07-16 20:22:19','',0,'http://smartinsurance.tips/?page_id=538',0,'page','',0),(537,1,'2020-07-16 20:16:33','2020-07-16 20:16:33','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 spacing=\"4\" class=\"Heading__HeadingStyled-sc-1w5xk2o-0 iifLql Heading-sc-1w5xk2o-1 djGRcp\" size=\"5\" style=\"text-align: center;\"><strong>What Is a Retirement Annuity?</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\"></div>\n<div align=\"center\">\n<p><img src=\"https://www.usnews.com/dims4/USNEWS/940a738/2147483647/thumbnail/640x420/quality/85/?url=http%3A%2F%2Fmedia.beam.usnews.com%2F3e%2F80%2F8a4167424408b8c45a60a751a862%2F200715-seniormanlaptophouse-stock.jpg\" alt=\"Man in his 50s with tattoo, leaning forward with hand on chin, curious expression, doing home finances and online banking\" style=\"float: left;\" /></p>\n<p style=\"text-align: right;\"><span class=\"lede\" style=\"color: #000000; font-size: 14px;\">AN ANNUITY IS AN </span><span style=\"color: #000000; font-size: 14px;\">insurance product that offers guaranteed income. In its simplest form, an annuity involves setting aside a certain amount of money and then receiving regular payments over a designated time period. This might consist of ongoing paychecks that are guaranteed for your lifetime or for the next 10 or 20 years.</span><span style=\"color: #000000; font-size: 14px;\"> </span></p>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p style=\"text-align: left;\"><span style=\"font-size: 14px; color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p><span style=\"color: #000000;\">There are many different kinds of annuities. Before taking action, you’ll want to understand how a retirement annuity works and how to choose the best retirement annuity for your circumstances. Here\'s a look at what’s available on today’s market, along with the pros and cons of using annuities for retirement.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<h3 class=\"heading-large\"><span style=\"color: #000000;\">Types of Retirement Annuities</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p><span style=\"color: #000000;\">Annuities are complex insurance products with a long list of choices. “Because there are so many different annuities on the market, people often times get confused,” says Michael Hess, a wealth management advisor with WestPac Wealth Partners in Encino, California. “There isn’t a one-size-fits-all annuity.”</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">There are several types of annuities for retirees:</span></p>\n</div>\n<p><span style=\"color: #000000;\"><react-trigger trigger=\"view\"></react-trigger></span></p>\n<div class=\"ArticleBodyRawList__ListContainer-sc-18hlulv-0 bfYCZk\">\n<ul>\n<li><span style=\"color: #000000;\"><b>Fixed annuity</b>: A fixed annuity provides guaranteed payments throughout retirement or over a set period of time.</span></li>\n<li><span style=\"color: #000000;\"><b>Variable annuity</b>: You can choose from a selection of investments, and your retirement payments vary based on the investment performance.</span></li>\n<li><span style=\"color: #000000;\"><b>Fixed-indexed annuity</b>: There is usually a guaranteed minimum income benefit as well as an opportunity for gains because this type of annuity is also tied to a market-based index like the S&amp;P 500.</span></li>\n<li><span style=\"color: #000000;\"><b>Immediate annuity</b>: You make a lump sum payment, and then start receiving regular income payments for the rest of your life or for an indicated time frame.</span></li>\n<li><span style=\"color: #000000;\"><b>Deferred annuity</b>: Payments are issued at a later date, usually after at least one year and sometimes many years later.</span></li>\n</ul>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">While there are many insurance products available, you’ll find several common threads among annuities. “They all offer some sort of guarantee,” says Ian Grove, an associate advisor for Robert Green &amp; Company in Napa, California. The recurring paycheck you will receive is the biggest benefit of annuities, but you also need to watch out for costs. “They all come with some type of surrender charge,” Grove says. This means if you take out funds before an established date, you’ll face additional fees and penalties. For instance, if an annuity has a surrender period of 10 years, you’ll face penalties if you want to use the money for something else during those initial 10 years.</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\">\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\"><span style=\"color: #000000;\">Benefits of a Retirement Annuity</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\"><b></b></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">When you purchase an annuity you shift some of the financial risks of retirement to the insurance company. “With pension plans a thing of the past and Social Security accounting for only a small part of people’s retirement income, having a guaranteed paycheck for life, no matter what the stock market does and no matter how long you live, is a great safety net to have,” Hess says.</span></p>\n</div>\n<div data-ad-collide=\"false\" spacing=\"5\" class=\"Box-w0dun1-0 placeAds__InArticleSpace-sc-1q5ympa-1 hIqQMB Hide-kg09cx-0 wTbeK\">\n<div class=\"Box-w0dun1-0 placeAds__InArticleAd-sc-1q5ympa-0 lbDnxr\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 UueCe\"></div>\n</div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Having this low-risk vehicle in your portfolio could also make it easier to take on risks in other areas. Some investors choose an annuity as a way to diversify their portfolio. Furthermore, the funds in an annuity are not taxed until you receive income payments.</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\">\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\"><span style=\"color: #000000;\">Drawbacks of a Retirement Annuity</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Expect to pay a number of charges to take out and maintain an annuity. “Broadly speaking, fees are higher than traditional investment vehicles,” says Zachary Ashburn, president of Reach Strategic Wealth in Winston-Salem, North Carolina. “Since annuities are frequently marketed with a focus on their investment characteristics, it’s important to note that these fees impact the returns the owner will receive.”</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">The motives for a financial professional to offer you an annuity could stem from their own personal interest. “Insurance companies that create them pay high rates of commissions to encourage salesmen to market them,” Ashburn says. There could be a financial incentive for a salesperson to suggest an annuity as a solution without taking a careful look at your situation.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">It can also be challenging to select the exact type of annuity you want. For instance, “many variable annuities have optional riders that guarantee a death benefit or income payment,” says Alexander Petsis, a financial planner at Anthony Petsis &amp; Associates in Newtown, Pennsylvania. These extra riders may seem beneficial, but they also come with additional fees.</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\">\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\"><span style=\"color: #000000;\">Are Annuities a Good Investment for Retirees?<b></b></span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">When deciding whether an annuity is a good fit for retirement, a solid starting point may be to talk to an advisor who is familiar with annuities. Take care to gauge the financial planner’s experience in the annuity industry. “It would be a good idea to ask the advisor if they personally own the annuity that they are recommending, and if not, why?” Hess says. It may be wise to get several opinions on annuities before committing to a contract.</span></p>\n</div>\n<div data-ad-collide=\"true\" spacing=\"5\" class=\"Box-w0dun1-0 placeAds__InArticleSpace-sc-1q5ympa-1 ifnChL Hide-kg09cx-0 wTbeK\">\n<div class=\"Box-w0dun1-0 placeAds__InArticleAd-sc-1q5ympa-0 cisOSB\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 kJLhlN\"></div>\n</div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">If possible, you may want to avoid working with planners who receive a commission for themselves when selling an annuity. “Consider engaging a fee-only financial planner who does not accept commissions and therefore doesn’t have this conflict of interest in product recommendations,” Ashburn says.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">One of the best ways to know if an annuity is a good fit is to create a written financial plan. “Then one can select an annuity to fulfill a certain goal within their financial plan,” Petsis says. “If that annuity does not fulfill a specific financial goal, it may not be right for you.”</span></p>\n</div>\n<p>&nbsp;</p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://money.usnews.com/money/retirement/aging/articles/what-is-a-retirement-annuity\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','What Is a Retirement Annuity?','','inherit','closed','closed','','534-revision-v1','','','2020-07-16 20:16:33','2020-07-16 20:16:33','',534,'http://smartinsurance.tips/534-revision-v1/',0,'revision','',0),(494,1,'2020-06-23 22:54:38','2020-06-23 22:54:38','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"gnt_ar_hl\" elementtiming=\"ar-headline\" style=\"text-align: center;\"><span style=\"color: #000000;\"><strong>Adjustable-rate mortgages might not be the deals you think they are</strong></span></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"><img src=\"https://www.gannett-cdn.com/presto/2020/06/04/PDTF/990ab479-52f5-40c4-9bd2-dfedb5a78a14-IMG_6930.jpg?width=660&amp;height=525&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" alt=\"Adjustable-rate mortgages continue to be tempting but first-time homebuyers need to carefully review the potential risks ahead.\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">As tempting as it might be to save a few bucks a month now by opting for an adjustable-rate mortgage, consumers still need to do their homework in this ultra-low-rate environment. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Some first-time home buyers, for example, tend to favor the lower upfront payments on the theory that they\'re moving into a starter home anyway. And they believe they\'ll be moving sooner than you\'d imagine in five or six years.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">But will they really move? Will they be taking on more risk here than they realize? Will they be socked down the line with monthly payments that they really cannot afford? </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"With an ARM, the interest rate and monthly payment may start out low,\" according to the newly revised Consumer Handbook on Adjustable Rate Mortgages produced by the Consumer Financial Protection Bureau (CFPB). </span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-2\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CJPP7cGDmeoCFRoFXAodfj4CUw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" data-google-container-id=\"2\" data-integralas-id-c9be24b3-da54-de5d-769e-28ab2de521f7=\"\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"However, both the rate and the payment can increase very quickly.\" </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The booklet is given to potential borrowers by lenders when they\'re reviewing the option of an ARM and spells out many details.</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-3\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"COyO8cGDmeoCFRoFXAodfj4CUw\" data-integralas-id-a355663f-5251-323c-f032-eb1f28fb6bd8=\"\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1__container__\"><span style=\"color: #000000;\"><iframe frameborder=\"0\" src=\"https://b3812fcde82e93dcd09826448b02b0cc.safeframe.googlesyndication.com/safeframe/1-0-37/html/container.html\" id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1\" title=\"3rd party ad content\" name=\"\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" width=\"300\" height=\"250\" data-is-safeframe=\"true\" sandbox=\"allow-forms allow-pointer-lock allow-popups allow-popups-to-escape-sandbox allow-same-origin allow-scripts allow-top-navigation-by-user-activation\" data-google-container-id=\"3\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">If you take out a 5/1 ARM, for example, it\'s important to realize that your initial rate will last five years but your mortgage rate could change every year after that. And the risk is that it could go up. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">It\'s also essential to know exactly when any temporary \"teaser\" rates might end. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"When the teaser rate ends, your loan takes on the fully indexed rate,\" the booklet notes. \"Don’t assume that a loan with a teaser rate is a good one for you. Not everyone’s budget can accommodate a higher payment.\"</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The revised booklet highlights a comparison table to spell out the differences between a fixed-rate mortgage and an adjustable-rate mortgage. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"Right now, we\'re in a very low-interest-rate environment but that may not be the case for the long term,\" said Kathy Kraninger, director of the Consumer Financial Protection Bureau.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Kraninger said borrowers also need to understand how a given mortgage is pegged to an index, such as London Interbank Offered Rate or LIBOR. The LIBOR index is being phased out by the end of 2021 and that could impact what you pay going forward in some way.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The change is taking place after a controversy about some cases of market manipulation relating to LIBOR where some banks intentionally misreported rates. The updated CFPB booklet also removes references to the LIBOR benchmark index.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"Lenders do have to alert consumers if their loan is indexed to LIBOR that there is going to be some transition in rates,\" Kraninger said in a phone interview. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">And it\'s not just ARMs. LIBOR is the benchmark index to determine the interest rate that consumers pay on some credits cards, home equity lines of credit, reverse mortgages and private student loans. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Kraninger said lenders must ensure that the consumer\'s interest rate that\'s calculated using a replacement index will be \"substantially similar\" to the rate that would have resulted using the LIBOR index. </span></p>\n<aside class=\"gnt_em gnt_em_cp\" aria-label=\"WFH? We got you\" data-c-cta=\"DIG DEEPER\">\n<div class=\"gnt_em_cp_cw\"></div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Greg McBride, chief financial analyst at Bankrate.com, said consumers need to review their options carefully, if considering an ARM. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">“With fixed mortgage rates at record lows, why take the risk of an adjustable rate? The average 30-year fixed rate is 3.47% and the average five-year adjustable is 3.45%, so there is no real advantage of taking an adjustable rate,\" McBride said Thursday.</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-4\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CO2O8cGDmeoCFRoFXAodfj4CUw\" data-integralas-id-d9d50603-24e6-e336-ffdb-d0c0399e5e29=\"\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2__container__\"><span style=\"color: #000000;\"><iframe frameborder=\"0\" src=\"https://b3812fcde82e93dcd09826448b02b0cc.safeframe.googlesyndication.com/safeframe/1-0-37/html/container.html\" id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2\" title=\"3rd party ad content\" name=\"\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" width=\"300\" height=\"250\" data-is-safeframe=\"true\" sandbox=\"allow-forms allow-pointer-lock allow-popups allow-popups-to-escape-sandbox allow-same-origin allow-scripts allow-top-navigation-by-user-activation\" data-google-container-id=\"4\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"Jumbo borrowers are more likely to go the adjustable route for a couple reasons – credit is particularly tight on jumbo fixed-rate loans, and higher net worth jumbo borrowers often use adjustable rate loans as a way to maximize cash flow, not as an affordability mechanism.”</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Again, though, make sure you understand how things can fluctuate in the years ahead. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">“If you take an adjustable rate mortgage, look closely to see what index the rate will be determined on in the future,\" McBride said.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"LIBOR is going away and there is a lot of uncertainty about what will happen with LIBOR-indexed loans, particularly which index will the loan switch to and what will that mean for future rate adjustments,” McBride said. </span></p>\n<p>&nbsp;</p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.usatoday.com/story/money/2020/06/09/adjustable-rate-mortgages-can-be-risky/5320191002/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Adjustable-rate mortgages might not be the deals you think they are','','publish','closed','closed','','adjustable-rate-mortgages-might-not-be-the-deals-you-think-they-are','','','2020-06-23 23:00:40','2020-06-23 23:00:40','',0,'http://smartinsurance.tips/?page_id=494',0,'page','',0),(495,1,'2020-06-23 22:54:38','2020-06-23 22:54:38','<!-- wp:divi/placeholder /-->','Adjustable-rate mortgages might not be the deals you think they are','','inherit','closed','closed','','494-revision-v1','','','2020-06-23 22:54:38','2020-06-23 22:54:38','',494,'http://smartinsurance.tips/494-revision-v1/',0,'revision','',0),(498,1,'2020-06-23 23:09:23','2020-06-23 23:09:23','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>5 Things You Shouldn\'t Do During a Recession</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\">\n<p><img src=\"https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2020/06/931/506/Credible-coronavirus-unemployed-iStock-1216097675.jpg?ve=1&amp;tl=1\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><span style=\"color: #000000;\"></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The coronavirus pandemic has had a significant financial impact on American households, with nearly 40 million unemployment claims filed during the months of April and May. It\'s estimated the overall unemployment rate is around 13 percent but may eventually approach 20 percent. While the latest jobs report shows the economy added 2.5 million jobs in May, it\'s possible that high unemployment rates may be sticking around for a while.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">\"In addition to the obvious changes with interviewing and direct contact, the biggest difficulty in finding work will be the number of jobs available due to changes to our economy,\" said Rick Myers, founder and president of Integrated Financial Services in Grand Rapids, Michigan.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Some employment sectors may be harder to reenter than others as employers have to integrate social distancing measures and their own financial challenges into the mix. Add in a recession and landing a job may prove even more challenging. If you\'re receiving unemployment, it\'s helpful to have a financial contingency plan for when those benefits run out if you don\'t anticipate going back to work right away.</span></p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Consider transferring credit card balances</strong></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If you\'ve been using credit cards to help pay the bills or cover expenses while on unemployment, reducing your interest rates can make your debt more manageable.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Balance transfer credit cards can be an easy way to combine balance from different credit cards at low rates and save money. Low credit card rates mean that more of your monthly payment goes toward the principal balance so the debt is paid off faster. Use Credible to compare balance transfer credit cards so you can pay down your debt more effectively.</span></p>\n<div data-unit-credible=\"simple-cta,credit-card,compare-cards-balance-transfer\" class=\"credible\" style=\"text-align: justify;\"></div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>PROS AND CONS OF BALANCE TRANSFER CREDIT CARDS</strong></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Make sure to check the terms of the promotion, including the interest rates and how long you have to pay it off before the promotional rate ends. Also factor in the balance transfer fee, which can add to the amount you have to repay.</span></p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Contact your lenders</strong></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If you have credit cards, student loans, a mortgage or other debts, it\'s important to keep your lenders in the loop during financial hardship.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">For example, you may need to take out a small personal loan to cover expenses in the short-term until you can get back to work. You can easily compare personal loan rates with Credible to see what kind of interest rates you may qualify for, based on your creditworthiness.</span></p>\n<div data-unit-credible=\"rich-cta,personal-loan,copy-only\" class=\"credible\" style=\"text-align: justify;\"></div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>EVERYTHING YOU NEED TO KNOW ABOUT PERSONAL LOANS</strong></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Aside from getting a personal loan, you may also want to explore a mortgage refi or a student loan refinance, if you have private loans. It may not seem ideal to take out loans while unemployed but with record interest rates as low as they are, it could be a prime opportunity to save money.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Again, Credible can be a helpful tool for comparing student loan refinance rates. You can easily check student loan refi rates from different banks and lenders in one place to find the best borrowing option for your situation.</span></p>\n<div data-unit-credible=\"rate-table,student-loan-refi,interactive\" class=\"credible\" style=\"text-align: justify;\"></div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Forbearance and deferment periods are another way to manage student loans during coronavirus. Your lenders or loan servicers can tell you which options are available and how to apply for them.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">You can save on mortgage costs by taking advantage of low rates with a refinance loan. Take time to compare mortgage refinance rates and don\'t forget to factor in the closing costs as well.</span></p>\n<div data-unit-credible=\"rich-cta,mortgage-refi,copy-only\" class=\"credible\" style=\"text-align: justify;\"></div>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Look into extended unemployment insurance</strong></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">In most states, unemployment benefits last for 26 weeks. Extended unemployment insurance allows states to add 13 weeks of benefits on top of regular benefit payments when unemployment rates are high. In response to the COVID-19 pandemic, some states are offering another seven weeks of benefits, for a total of 20 weeks of extended unemployment benefits.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>HOW TO REFINANCE YOUR MORTGAGE</strong></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">That means you could have a longer window to claim unemployment benefits than you anticipated. Just keep in mind that the up to $600 in weekly federal benefits paid under the CARES Act expires July 31. So while you may be able to continue receiving benefits at the state level, you may need to adjust your budget to account for the loss of federal benefits.</span></p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Create a budget</strong></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">You may have created a basic budget to manage your finances during coronavirus but if your income is changing again because unemployment is ending, you might need to revisit it.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Specifically, take a look at what you\'re currently spending to see how you can get that aligned as closely as possible with what you expect your income to be once unemployment ends. If you\'ve already addressed the obvious budget cuts, such as eliminating takeout food, online shopping and gym memberships, you may need to cast the net a little wider.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">For example, you may be able to downgrade your cell phone plan or switch from contract service to a prepaid phone to save money. Raising your car insurance or homeowner\'s insurance deductibles or bundling policies together could also help add money back into your budget.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>WHEN SHOULD YOU REFINANCE YOUR MORTGAGE?</strong></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">You may also be able to negotiate different payment plans with your utility service providers. For example, switching to a flat-rate billing plan with your electric or water provider could help even out your monthly utility costs so they\'re more manageable. Or they may allow you to temporarily postpone payments on your account without disconnecting your service if you have a coronavirus-related financial hardship.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Myers said if you\'ve done those things, you may have to look at ways to generate cash flow. Selling things, taking on a side hustle or borrowing from your retirement accounts are just some things you might consider.</span></p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Don\'t panic if unemployment is ending</strong></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If you\'ve been relying on unemployment to help you get through a difficult time, it\'s important to remember that there are financial options for when those benefits end. The more planning you can do before unemployment runs out, the better, Myers said. Staying in touch with your lenders and billers, considering a personal loan to tide you over and comparing refinance rates with Credible can help you map out your next steps once unemployment goes away.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></p>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\">To read the full article, <a href=\"https://www.foxbusiness.com/money/coronavirus-unemployment-benefits-expire-what-to-do\">click here</a>.</span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Coronavirus unemployment benefits set to expire soon — what to do when that happens','','publish','closed','closed','','coronavirus-unemployment-benefits-set-to-expire-soon-what-to-do-when-that-happens','','','2020-06-23 23:11:50','2020-06-23 23:11:50','',0,'http://smartinsurance.tips/?page_id=498',0,'page','',0),(499,1,'2020-06-23 23:01:51','2020-06-23 23:01:51','<!-- wp:divi/placeholder /-->','Coronavirus unemployment benefits set to expire soon — what to do when that happens','','inherit','closed','closed','','498-revision-v1','','','2020-06-23 23:01:51','2020-06-23 23:01:51','',498,'http://smartinsurance.tips/498-revision-v1/',0,'revision','',0),(497,1,'2020-06-23 23:00:25','2020-06-23 23:00:25','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"gnt_ar_hl\" elementtiming=\"ar-headline\" style=\"text-align: center;\"><span style=\"color: #000000;\"><strong>Adjustable-rate mortgages might not be the deals you think they are</strong></span></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"><img src=\"https://www.gannett-cdn.com/presto/2020/06/04/PDTF/990ab479-52f5-40c4-9bd2-dfedb5a78a14-IMG_6930.jpg?width=660&amp;height=525&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" alt=\"Adjustable-rate mortgages continue to be tempting but first-time homebuyers need to carefully review the potential risks ahead.\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">As tempting as it might be to save a few bucks a month now by opting for an adjustable-rate mortgage, consumers still need to do their homework in this ultra-low-rate environment. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Some first-time home buyers, for example, tend to favor the lower upfront payments on the theory that they\'re moving into a starter home anyway. And they believe they\'ll be moving sooner than you\'d imagine in five or six years.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">But will they really move? Will they be taking on more risk here than they realize? Will they be socked down the line with monthly payments that they really cannot afford? </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"With an ARM, the interest rate and monthly payment may start out low,\" according to the newly revised Consumer Handbook on Adjustable Rate Mortgages produced by the Consumer Financial Protection Bureau (CFPB). </span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-2\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CJPP7cGDmeoCFRoFXAodfj4CUw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" data-google-container-id=\"2\" data-integralas-id-c9be24b3-da54-de5d-769e-28ab2de521f7=\"\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"However, both the rate and the payment can increase very quickly.\" </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The booklet is given to potential borrowers by lenders when they\'re reviewing the option of an ARM and spells out many details.</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-3\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"COyO8cGDmeoCFRoFXAodfj4CUw\" data-integralas-id-a355663f-5251-323c-f032-eb1f28fb6bd8=\"\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1__container__\"><span style=\"color: #000000;\"><iframe frameborder=\"0\" src=\"https://b3812fcde82e93dcd09826448b02b0cc.safeframe.googlesyndication.com/safeframe/1-0-37/html/container.html\" id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1\" title=\"3rd party ad content\" name=\"\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" width=\"300\" height=\"250\" data-is-safeframe=\"true\" sandbox=\"allow-forms allow-pointer-lock allow-popups allow-popups-to-escape-sandbox allow-same-origin allow-scripts allow-top-navigation-by-user-activation\" data-google-container-id=\"3\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">If you take out a 5/1 ARM, for example, it\'s important to realize that your initial rate will last five years but your mortgage rate could change every year after that. And the risk is that it could go up. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">It\'s also essential to know exactly when any temporary \"teaser\" rates might end. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"When the teaser rate ends, your loan takes on the fully indexed rate,\" the booklet notes. \"Don’t assume that a loan with a teaser rate is a good one for you. Not everyone’s budget can accommodate a higher payment.\"</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The revised booklet highlights a comparison table to spell out the differences between a fixed-rate mortgage and an adjustable-rate mortgage. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"Right now, we\'re in a very low-interest-rate environment but that may not be the case for the long term,\" said Kathy Kraninger, director of the Consumer Financial Protection Bureau.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Kraninger said borrowers also need to understand how a given mortgage is pegged to an index, such as London Interbank Offered Rate or LIBOR. The LIBOR index is being phased out by the end of 2021 and that could impact what you pay going forward in some way.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The change is taking place after a controversy about some cases of market manipulation relating to LIBOR where some banks intentionally misreported rates. The updated CFPB booklet also removes references to the LIBOR benchmark index.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"Lenders do have to alert consumers if their loan is indexed to LIBOR that there is going to be some transition in rates,\" Kraninger said in a phone interview. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">And it\'s not just ARMs. LIBOR is the benchmark index to determine the interest rate that consumers pay on some credits cards, home equity lines of credit, reverse mortgages and private student loans. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Kraninger said lenders must ensure that the consumer\'s interest rate that\'s calculated using a replacement index will be \"substantially similar\" to the rate that would have resulted using the LIBOR index. </span></p>\n<aside class=\"gnt_em gnt_em_cp\" aria-label=\"WFH? We got you\" data-c-cta=\"DIG DEEPER\">\n<div class=\"gnt_em_cp_cw\"></div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Greg McBride, chief financial analyst at Bankrate.com, said consumers need to review their options carefully, if considering an ARM. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">“With fixed mortgage rates at record lows, why take the risk of an adjustable rate? The average 30-year fixed rate is 3.47% and the average five-year adjustable is 3.45%, so there is no real advantage of taking an adjustable rate,\" McBride said Thursday.</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-4\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CO2O8cGDmeoCFRoFXAodfj4CUw\" data-integralas-id-d9d50603-24e6-e336-ffdb-d0c0399e5e29=\"\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2__container__\"><span style=\"color: #000000;\"><iframe frameborder=\"0\" src=\"https://b3812fcde82e93dcd09826448b02b0cc.safeframe.googlesyndication.com/safeframe/1-0-37/html/container.html\" id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2\" title=\"3rd party ad content\" name=\"\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" width=\"300\" height=\"250\" data-is-safeframe=\"true\" sandbox=\"allow-forms allow-pointer-lock allow-popups allow-popups-to-escape-sandbox allow-same-origin allow-scripts allow-top-navigation-by-user-activation\" data-google-container-id=\"4\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"Jumbo borrowers are more likely to go the adjustable route for a couple reasons – credit is particularly tight on jumbo fixed-rate loans, and higher net worth jumbo borrowers often use adjustable rate loans as a way to maximize cash flow, not as an affordability mechanism.”</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Again, though, make sure you understand how things can fluctuate in the years ahead. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">“If you take an adjustable rate mortgage, look closely to see what index the rate will be determined on in the future,\" McBride said.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"LIBOR is going away and there is a lot of uncertainty about what will happen with LIBOR-indexed loans, particularly which index will the loan switch to and what will that mean for future rate adjustments,” McBride said. </span></p>\n<p>&nbsp;</p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.usatoday.com/story/money/2020/06/09/adjustable-rate-mortgages-can-be-risky/5320191002/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Adjustable-rate mortgages might not be the deals you think they are','','inherit','closed','closed','','494-revision-v1','','','2020-06-23 23:00:25','2020-06-23 23:00:25','',494,'http://smartinsurance.tips/494-revision-v1/',0,'revision','',0),(501,1,'2020-06-23 23:09:23','2020-06-23 23:09:23','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>5 Things You Shouldn\'t Do During a Recession</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\">\n<p><img src=\"https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2020/06/931/506/Credible-coronavirus-unemployed-iStock-1216097675.jpg?ve=1&amp;tl=1\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><span style=\"color: #000000;\"></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The coronavirus pandemic has had a significant financial impact on American households, with nearly 40 million unemployment claims filed during the months of April and May. It\'s estimated the overall unemployment rate is around 13 percent but may eventually approach 20 percent. While the latest jobs report shows the economy added 2.5 million jobs in May, it\'s possible that high unemployment rates may be sticking around for a while.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">\"In addition to the obvious changes with interviewing and direct contact, the biggest difficulty in finding work will be the number of jobs available due to changes to our economy,\" said Rick Myers, founder and president of Integrated Financial Services in Grand Rapids, Michigan.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Some employment sectors may be harder to reenter than others as employers have to integrate social distancing measures and their own financial challenges into the mix. Add in a recession and landing a job may prove even more challenging. If you\'re receiving unemployment, it\'s helpful to have a financial contingency plan for when those benefits run out if you don\'t anticipate going back to work right away.</span></p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Consider transferring credit card balances</strong></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If you\'ve been using credit cards to help pay the bills or cover expenses while on unemployment, reducing your interest rates can make your debt more manageable.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Balance transfer credit cards can be an easy way to combine balance from different credit cards at low rates and save money. Low credit card rates mean that more of your monthly payment goes toward the principal balance so the debt is paid off faster. Use Credible to compare balance transfer credit cards so you can pay down your debt more effectively.</span></p>\n<div data-unit-credible=\"simple-cta,credit-card,compare-cards-balance-transfer\" class=\"credible\" style=\"text-align: justify;\"></div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>PROS AND CONS OF BALANCE TRANSFER CREDIT CARDS</strong></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Make sure to check the terms of the promotion, including the interest rates and how long you have to pay it off before the promotional rate ends. Also factor in the balance transfer fee, which can add to the amount you have to repay.</span></p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Contact your lenders</strong></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If you have credit cards, student loans, a mortgage or other debts, it\'s important to keep your lenders in the loop during financial hardship.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">For example, you may need to take out a small personal loan to cover expenses in the short-term until you can get back to work. You can easily compare personal loan rates with Credible to see what kind of interest rates you may qualify for, based on your creditworthiness.</span></p>\n<div data-unit-credible=\"rich-cta,personal-loan,copy-only\" class=\"credible\" style=\"text-align: justify;\"></div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>EVERYTHING YOU NEED TO KNOW ABOUT PERSONAL LOANS</strong></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Aside from getting a personal loan, you may also want to explore a mortgage refi or a student loan refinance, if you have private loans. It may not seem ideal to take out loans while unemployed but with record interest rates as low as they are, it could be a prime opportunity to save money.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Again, Credible can be a helpful tool for comparing student loan refinance rates. You can easily check student loan refi rates from different banks and lenders in one place to find the best borrowing option for your situation.</span></p>\n<div data-unit-credible=\"rate-table,student-loan-refi,interactive\" class=\"credible\" style=\"text-align: justify;\"></div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Forbearance and deferment periods are another way to manage student loans during coronavirus. Your lenders or loan servicers can tell you which options are available and how to apply for them.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">You can save on mortgage costs by taking advantage of low rates with a refinance loan. Take time to compare mortgage refinance rates and don\'t forget to factor in the closing costs as well.</span></p>\n<div data-unit-credible=\"rich-cta,mortgage-refi,copy-only\" class=\"credible\" style=\"text-align: justify;\"></div>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Look into extended unemployment insurance</strong></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">In most states, unemployment benefits last for 26 weeks. Extended unemployment insurance allows states to add 13 weeks of benefits on top of regular benefit payments when unemployment rates are high. In response to the COVID-19 pandemic, some states are offering another seven weeks of benefits, for a total of 20 weeks of extended unemployment benefits.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>HOW TO REFINANCE YOUR MORTGAGE</strong></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">That means you could have a longer window to claim unemployment benefits than you anticipated. Just keep in mind that the up to $600 in weekly federal benefits paid under the CARES Act expires July 31. So while you may be able to continue receiving benefits at the state level, you may need to adjust your budget to account for the loss of federal benefits.</span></p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Create a budget</strong></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">You may have created a basic budget to manage your finances during coronavirus but if your income is changing again because unemployment is ending, you might need to revisit it.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Specifically, take a look at what you\'re currently spending to see how you can get that aligned as closely as possible with what you expect your income to be once unemployment ends. If you\'ve already addressed the obvious budget cuts, such as eliminating takeout food, online shopping and gym memberships, you may need to cast the net a little wider.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">For example, you may be able to downgrade your cell phone plan or switch from contract service to a prepaid phone to save money. Raising your car insurance or homeowner\'s insurance deductibles or bundling policies together could also help add money back into your budget.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>WHEN SHOULD YOU REFINANCE YOUR MORTGAGE?</strong></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">You may also be able to negotiate different payment plans with your utility service providers. For example, switching to a flat-rate billing plan with your electric or water provider could help even out your monthly utility costs so they\'re more manageable. Or they may allow you to temporarily postpone payments on your account without disconnecting your service if you have a coronavirus-related financial hardship.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Myers said if you\'ve done those things, you may have to look at ways to generate cash flow. Selling things, taking on a side hustle or borrowing from your retirement accounts are just some things you might consider.</span></p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Don\'t panic if unemployment is ending</strong></span></h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If you\'ve been relying on unemployment to help you get through a difficult time, it\'s important to remember that there are financial options for when those benefits end. The more planning you can do before unemployment runs out, the better, Myers said. Staying in touch with your lenders and billers, considering a personal loan to tide you over and comparing refinance rates with Credible can help you map out your next steps once unemployment goes away.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></p>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\">To read the full article, <a href=\"https://www.foxbusiness.com/money/coronavirus-unemployment-benefits-expire-what-to-do\">click here</a>.</span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Coronavirus unemployment benefits set to expire soon — what to do when that happens','','inherit','closed','closed','','498-revision-v1','','','2020-06-23 23:09:23','2020-06-23 23:09:23','',498,'http://smartinsurance.tips/498-revision-v1/',0,'revision','',0),(503,1,'2020-06-25 17:48:33','2020-06-25 17:48:33','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"sfnewsTitle\" data-sf-field=\"Title\" data-sf-ftype=\"ShortText\" style=\"text-align: center;\"><strong>Cybersecurity and Homeowners: Risks and Opportunities</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\">\n<p><img src=\"https://www.iamagazine.com/images/default-source/markets/cybersecurity-and-homeowners.jpg?sfvrsn=183105b6_0\" style=\"float: left;\" /></p>\n<p style=\"text-align: right;\">The<span> </span>Insurance Business America’s Broker Connect<span> </span>virtual event on cyber issues is set to be held on Tuesday, June 9 and will include a discussion by a leading panel of experts on cyber risks and the trends currently facing the insurance industry. While cyber liability insurance was already the fastest growing new sector in insurance in the world, COVID-19 placed a new emphasis on the new world of remote working, smartphones, the Internet of Things (IoT) and the risks and threats involved.</p>\n<p style=\"text-align: right;\">Speaking before the event, Ron Berg, executive director of<span> </span>Agents Council for Technology<span> </span>(ACT) and panelist at the event, discussed the specific type of cybercrime that relates to the vulnerabilities in mobile platforms, IoT and the impact on the homeowners industry as a whole.</p>\n<p style=\"text-align: right;\">While organizations are improving their operations by adopting ever-advancing technologies like mobile, cloud and IoT devices, cybercriminals have been hard at work combating these improvements. According to Berg, the latest identified cybercrime risks have revealed that hacking is leading the way with the finance and insurance sector rated the fourth highest attacked economic sector—10.5% of all exposures.</p>\n<p style=\"text-align: justify;\"></p>\n<h1 style=\"text-align: justify;\">Cyber Liability and Homeowners Insurance</h1>\n<p style=\"text-align: justify;\">“Over the past four to five years we have seen the emergence of the mobile platform as the platform of choice,” Berg says. “Com-Score research indicates that 86% of insurance shopping begins on mobile platforms, so carriers, agents and technology professionals have to provide for the mobile platform. And now that more and more people are working from home during the pandemic, the increase in the use of technology at home has brought additional risks in terms of mobile and IoT devices.”</p>\n<p style=\"text-align: justify;\">“Insurance agents need to be aware of the benefits and risks to homeowners and how to advise clients on the privacy and insecurities involved with that,” Berg says. “Agents and brokers need to be proactive in advising their customers. They need to look for opportunities, look at what individual risks are and look at what the carrier partners\' palette has to offer.”</p>\n<p style=\"text-align: justify;\"></p>\n<h1 style=\"text-align: justify;\">Smartphone and IoT Vulnerabilities</h1>\n<p style=\"text-align: justify;\"><strong></strong></p>\n<p style=\"text-align: justify;\">Remote access attacks are increasing in number and are becoming more and more sophisticated. Two billion data records were compromised in 2017, and more than 4.5 billion records were breached in the first half of 2018 alone, according to the European Business Review. “Overall, records lost are way up already in 2020—from 2.3 billion in 2019 overall to 8.5 billion already in the first quarter of 2020,” Berg says.</p>\n<p style=\"text-align: justify;\">Hackers are targeting computers, smartphones, internet protocol (IP) cameras, and network attached devices that require external networks or the internet.</p>\n<p style=\"text-align: justify;\">More than 60% of fraud online is accomplished through mobile platforms, according to<span> </span>RSA 2019 White Paper on Cybercrime, and 80% of mobile fraud is achieved through mobile apps instead of mobile web browsers. Increased security attacks on smartphones relate primarily to unsafe browsing practices with people accessing personal information outside the security of their own homes. These practices leave them open to phishing, spear phishing and malware attacks.</p>\n<p style=\"text-align: justify;\">The consumer IoT industry is expected to grow to more than seven billion devices by the end of 2020, according to a Gartner report. Asked whether he thinks this level will be exceeded because of the increase in the number of people working from home, Berg says \"there will definitely continue to be an expansion in the curve.“</p>\n<p style=\"text-align: justify;\">However, the IoT provides opportunities for agents and insurers to offer product-service bundles to reduce the probability of damage and lower the overall risk for homeowners and insurers.</p>\n<p style=\"text-align: justify;\">Homeowners benefit when agents analyze what the carriers have to offer in terms of protection, reduced premiums, and incentives offered, like a free Nest thermostat or a Ring&#x2122; Video Doorbell. “While agents are not cyber experts, they do understand there are underwriting implications for the use of advanced technologies and can provide advice, such as simply changing the password on a new router,” Berg says.</p>\n<p style=\"text-align: justify;\">“There is no one technological advance that is completely secure,” Berg continues. “Agents understand what carriers have on offer and what consumers are looking for.” Going forward, the impact on personal lines will continue to affect how consumers purchase policies, how independent agents process them and how carriers deliver coverages.</p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"></p>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.iamagazine.com/markets/read/2020/06/05/cybersecurity-and-homeowners-risks-and-opportunities\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Cybersecurity and Homeowners: Risks and Opportunities','','publish','closed','closed','','cybersecurity-and-homeowners-risks-and-opportunities','','','2020-06-29 17:03:19','2020-06-29 17:03:19','',0,'http://smartinsurance.tips/?page_id=503',0,'page','',0),(504,1,'2020-06-25 17:42:55','2020-06-25 17:42:55','<!-- wp:divi/placeholder /-->','Cybersecurity and Homeowners: Risks and Opportunities','','inherit','closed','closed','','503-revision-v1','','','2020-06-25 17:42:55','2020-06-25 17:42:55','',503,'http://smartinsurance.tips/503-revision-v1/',0,'revision','',0),(522,1,'2020-06-29 17:03:19','2020-06-29 17:03:19','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"sfnewsTitle\" data-sf-field=\"Title\" data-sf-ftype=\"ShortText\" style=\"text-align: center;\"><strong>Cybersecurity and Homeowners: Risks and Opportunities</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\">\n<p><img src=\"https://www.iamagazine.com/images/default-source/markets/cybersecurity-and-homeowners.jpg?sfvrsn=183105b6_0\" style=\"float: left;\" /></p>\n<p style=\"text-align: right;\">The<span> </span>Insurance Business America’s Broker Connect<span> </span>virtual event on cyber issues is set to be held on Tuesday, June 9 and will include a discussion by a leading panel of experts on cyber risks and the trends currently facing the insurance industry. While cyber liability insurance was already the fastest growing new sector in insurance in the world, COVID-19 placed a new emphasis on the new world of remote working, smartphones, the Internet of Things (IoT) and the risks and threats involved.</p>\n<p style=\"text-align: right;\">Speaking before the event, Ron Berg, executive director of<span> </span>Agents Council for Technology<span> </span>(ACT) and panelist at the event, discussed the specific type of cybercrime that relates to the vulnerabilities in mobile platforms, IoT and the impact on the homeowners industry as a whole.</p>\n<p style=\"text-align: right;\">While organizations are improving their operations by adopting ever-advancing technologies like mobile, cloud and IoT devices, cybercriminals have been hard at work combating these improvements. According to Berg, the latest identified cybercrime risks have revealed that hacking is leading the way with the finance and insurance sector rated the fourth highest attacked economic sector—10.5% of all exposures.</p>\n<p style=\"text-align: justify;\"></p>\n<h1 style=\"text-align: justify;\">Cyber Liability and Homeowners Insurance</h1>\n<p style=\"text-align: justify;\">“Over the past four to five years we have seen the emergence of the mobile platform as the platform of choice,” Berg says. “Com-Score research indicates that 86% of insurance shopping begins on mobile platforms, so carriers, agents and technology professionals have to provide for the mobile platform. And now that more and more people are working from home during the pandemic, the increase in the use of technology at home has brought additional risks in terms of mobile and IoT devices.”</p>\n<p style=\"text-align: justify;\">“Insurance agents need to be aware of the benefits and risks to homeowners and how to advise clients on the privacy and insecurities involved with that,” Berg says. “Agents and brokers need to be proactive in advising their customers. They need to look for opportunities, look at what individual risks are and look at what the carrier partners\' palette has to offer.”</p>\n<p style=\"text-align: justify;\"></p>\n<h1 style=\"text-align: justify;\">Smartphone and IoT Vulnerabilities</h1>\n<p style=\"text-align: justify;\"><strong></strong></p>\n<p style=\"text-align: justify;\">Remote access attacks are increasing in number and are becoming more and more sophisticated. Two billion data records were compromised in 2017, and more than 4.5 billion records were breached in the first half of 2018 alone, according to the European Business Review. “Overall, records lost are way up already in 2020—from 2.3 billion in 2019 overall to 8.5 billion already in the first quarter of 2020,” Berg says.</p>\n<p style=\"text-align: justify;\">Hackers are targeting computers, smartphones, internet protocol (IP) cameras, and network attached devices that require external networks or the internet.</p>\n<p style=\"text-align: justify;\">More than 60% of fraud online is accomplished through mobile platforms, according to<span> </span>RSA 2019 White Paper on Cybercrime, and 80% of mobile fraud is achieved through mobile apps instead of mobile web browsers. Increased security attacks on smartphones relate primarily to unsafe browsing practices with people accessing personal information outside the security of their own homes. These practices leave them open to phishing, spear phishing and malware attacks.</p>\n<p style=\"text-align: justify;\">The consumer IoT industry is expected to grow to more than seven billion devices by the end of 2020, according to a Gartner report. Asked whether he thinks this level will be exceeded because of the increase in the number of people working from home, Berg says \"there will definitely continue to be an expansion in the curve.“</p>\n<p style=\"text-align: justify;\">However, the IoT provides opportunities for agents and insurers to offer product-service bundles to reduce the probability of damage and lower the overall risk for homeowners and insurers.</p>\n<p style=\"text-align: justify;\">Homeowners benefit when agents analyze what the carriers have to offer in terms of protection, reduced premiums, and incentives offered, like a free Nest thermostat or a Ring&#x2122; Video Doorbell. “While agents are not cyber experts, they do understand there are underwriting implications for the use of advanced technologies and can provide advice, such as simply changing the password on a new router,” Berg says.</p>\n<p style=\"text-align: justify;\">“There is no one technological advance that is completely secure,” Berg continues. “Agents understand what carriers have on offer and what consumers are looking for.” Going forward, the impact on personal lines will continue to affect how consumers purchase policies, how independent agents process them and how carriers deliver coverages.</p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"></p>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.iamagazine.com/markets/read/2020/06/05/cybersecurity-and-homeowners-risks-and-opportunities\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Cybersecurity and Homeowners: Risks and Opportunities','','inherit','closed','closed','','503-revision-v1','','','2020-06-29 17:03:19','2020-06-29 17:03:19','',503,'http://smartinsurance.tips/503-revision-v1/',0,'revision','',0),(507,1,'2020-06-25 17:48:43','2020-06-25 17:48:43','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>5 Things You Shouldn\'t Do During a Recession</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\" hover_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p><img src=\"https://www.iamagazine.com/images/default-source/markets/cybersecurity-and-homeowners.jpg?sfvrsn=183105b6_0\" style=\"float: left;\" /></p>\n<p style=\"text-align: right;\">The<span> </span>Insurance Business America’s Broker Connect<span> </span>virtual event on cyber issues is set to be held on Tuesday, June 9 and will include a discussion by a leading panel of experts on cyber risks and the trends currently facing the insurance industry. While cyber liability insurance was already the fastest growing new sector in insurance in the world, COVID-19 placed a new emphasis on the new world of remote working, smartphones, the Internet of Things (IoT) and the risks and threats involved.</p>\n<p style=\"text-align: right;\">Speaking before the event, Ron Berg, executive director of<span> </span>Agents Council for Technology<span> </span>(ACT) and panelist at the event, discussed the specific type of cybercrime that relates to the vulnerabilities in mobile platforms, IoT and the impact on the homeowners industry as a whole.</p>\n<p style=\"text-align: right;\">While organizations are improving their operations by adopting ever-advancing technologies like mobile, cloud and IoT devices, cybercriminals have been hard at work combating these improvements. According to Berg, the latest identified cybercrime risks have revealed that hacking is leading the way with the finance and insurance sector rated the fourth highest attacked economic sector—10.5% of all exposures.</p>\n<p style=\"text-align: justify;\"></p>\n<h1 style=\"text-align: justify;\">Cyber Liability and Homeowners Insurance</h1>\n<p style=\"text-align: justify;\">“Over the past four to five years we have seen the emergence of the mobile platform as the platform of choice,” Berg says. “Com-Score research indicates that 86% of insurance shopping begins on mobile platforms, so carriers, agents and technology professionals have to provide for the mobile platform. And now that more and more people are working from home during the pandemic, the increase in the use of technology at home has brought additional risks in terms of mobile and IoT devices.”</p>\n<p style=\"text-align: justify;\">“Insurance agents need to be aware of the benefits and risks to homeowners and how to advise clients on the privacy and insecurities involved with that,” Berg says. “Agents and brokers need to be proactive in advising their customers. They need to look for opportunities, look at what individual risks are and look at what the carrier partners\' palette has to offer.”</p>\n<p style=\"text-align: justify;\"></p>\n<h1 style=\"text-align: justify;\">Smartphone and IoT Vulnerabilities</h1>\n<p style=\"text-align: justify;\"><strong></strong></p>\n<p style=\"text-align: justify;\">Remote access attacks are increasing in number and are becoming more and more sophisticated. Two billion data records were compromised in 2017, and more than 4.5 billion records were breached in the first half of 2018 alone, according to the European Business Review. “Overall, records lost are way up already in 2020—from 2.3 billion in 2019 overall to 8.5 billion already in the first quarter of 2020,” Berg says.</p>\n<p style=\"text-align: justify;\">Hackers are targeting computers, smartphones, internet protocol (IP) cameras, and network attached devices that require external networks or the internet.</p>\n<p style=\"text-align: justify;\">More than 60% of fraud online is accomplished through mobile platforms, according to<span> </span>RSA 2019 White Paper on Cybercrime, and 80% of mobile fraud is achieved through mobile apps instead of mobile web browsers. Increased security attacks on smartphones relate primarily to unsafe browsing practices with people accessing personal information outside the security of their own homes. These practices leave them open to phishing, spear phishing and malware attacks.</p>\n<p style=\"text-align: justify;\">The consumer IoT industry is expected to grow to more than seven billion devices by the end of 2020, according to a Gartner report. Asked whether he thinks this level will be exceeded because of the increase in the number of people working from home, Berg says \"there will definitely continue to be an expansion in the curve.“</p>\n<p style=\"text-align: justify;\">However, the IoT provides opportunities for agents and insurers to offer product-service bundles to reduce the probability of damage and lower the overall risk for homeowners and insurers.</p>\n<p style=\"text-align: justify;\">Homeowners benefit when agents analyze what the carriers have to offer in terms of protection, reduced premiums, and incentives offered, like a free Nest thermostat or a Ring&#x2122; Video Doorbell. “While agents are not cyber experts, they do understand there are underwriting implications for the use of advanced technologies and can provide advice, such as simply changing the password on a new router,” Berg says.</p>\n<p style=\"text-align: justify;\">“There is no one technological advance that is completely secure,” Berg continues. “Agents understand what carriers have on offer and what consumers are looking for.” Going forward, the impact on personal lines will continue to affect how consumers purchase policies, how independent agents process them and how carriers deliver coverages.</p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"></p>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.iamagazine.com/markets/read/2020/06/05/cybersecurity-and-homeowners-risks-and-opportunities\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','Cybersecurity and Homeowners: Risks and Opportunities','','inherit','closed','closed','','503-revision-v1','','','2020-06-25 17:48:43','2020-06-25 17:48:43','',503,'http://smartinsurance.tips/503-revision-v1/',0,'revision','',0),(506,1,'2020-06-25 17:48:33','2020-06-25 17:48:33','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>5 Things You Shouldn\'t Do During a Recession</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\" hover_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p><img src=\"https://www.iamagazine.com/images/default-source/markets/cybersecurity-and-homeowners.jpg?sfvrsn=183105b6_0\" style=\"float: left;\" /></p>\n<p style=\"text-align: right;\">The<span> </span>Insurance Business America’s Broker Connect<span> </span>virtual event on cyber issues is set to be held on Tuesday, June 9 and will include a discussion by a leading panel of experts on cyber risks and the trends currently facing the insurance industry. While cyber liability insurance was already the fastest growing new sector in insurance in the world, COVID-19 placed a new emphasis on the new world of remote working, smartphones, the Internet of Things (IoT) and the risks and threats involved.</p>\n<p style=\"text-align: right;\">Speaking before the event, Ron Berg, executive director of<span> </span>Agents Council for Technology<span> </span>(ACT) and panelist at the event, discussed the specific type of cybercrime that relates to the vulnerabilities in mobile platforms, IoT and the impact on the homeowners industry as a whole.</p>\n<p style=\"text-align: right;\">While organizations are improving their operations by adopting ever-advancing technologies like mobile, cloud and IoT devices, cybercriminals have been hard at work combating these improvements. According to Berg, the latest identified cybercrime risks have revealed that hacking is leading the way with the finance and insurance sector rated the fourth highest attacked economic sector—10.5% of all exposures.</p>\n<p style=\"text-align: justify;\"></p>\n<h1 style=\"text-align: justify;\">Cyber Liability and Homeowners Insurance</h1>\n<p style=\"text-align: justify;\">“Over the past four to five years we have seen the emergence of the mobile platform as the platform of choice,” Berg says. “Com-Score research indicates that 86% of insurance shopping begins on mobile platforms, so carriers, agents and technology professionals have to provide for the mobile platform. And now that more and more people are working from home during the pandemic, the increase in the use of technology at home has brought additional risks in terms of mobile and IoT devices.”</p>\n<p style=\"text-align: justify;\">“Insurance agents need to be aware of the benefits and risks to homeowners and how to advise clients on the privacy and insecurities involved with that,” Berg says. “Agents and brokers need to be proactive in advising their customers. They need to look for opportunities, look at what individual risks are and look at what the carrier partners\' palette has to offer.”</p>\n<p style=\"text-align: justify;\"></p>\n<h1 style=\"text-align: justify;\">Smartphone and IoT Vulnerabilities</h1>\n<p style=\"text-align: justify;\"><strong></strong></p>\n<p style=\"text-align: justify;\">Remote access attacks are increasing in number and are becoming more and more sophisticated. Two billion data records were compromised in 2017, and more than 4.5 billion records were breached in the first half of 2018 alone, according to the European Business Review. “Overall, records lost are way up already in 2020—from 2.3 billion in 2019 overall to 8.5 billion already in the first quarter of 2020,” Berg says.</p>\n<p style=\"text-align: justify;\">Hackers are targeting computers, smartphones, internet protocol (IP) cameras, and network attached devices that require external networks or the internet.</p>\n<p style=\"text-align: justify;\">More than 60% of fraud online is accomplished through mobile platforms, according to<span> </span>RSA 2019 White Paper on Cybercrime, and 80% of mobile fraud is achieved through mobile apps instead of mobile web browsers. Increased security attacks on smartphones relate primarily to unsafe browsing practices with people accessing personal information outside the security of their own homes. These practices leave them open to phishing, spear phishing and malware attacks.</p>\n<p style=\"text-align: justify;\">The consumer IoT industry is expected to grow to more than seven billion devices by the end of 2020, according to a Gartner report. Asked whether he thinks this level will be exceeded because of the increase in the number of people working from home, Berg says \"there will definitely continue to be an expansion in the curve.“</p>\n<p style=\"text-align: justify;\">However, the IoT provides opportunities for agents and insurers to offer product-service bundles to reduce the probability of damage and lower the overall risk for homeowners and insurers.</p>\n<p style=\"text-align: justify;\">Homeowners benefit when agents analyze what the carriers have to offer in terms of protection, reduced premiums, and incentives offered, like a free Nest thermostat or a Ring&#x2122; Video Doorbell. “While agents are not cyber experts, they do understand there are underwriting implications for the use of advanced technologies and can provide advice, such as simply changing the password on a new router,” Berg says.</p>\n<p style=\"text-align: justify;\">“There is no one technological advance that is completely secure,” Berg continues. “Agents understand what carriers have on offer and what consumers are looking for.” Going forward, the impact on personal lines will continue to affect how consumers purchase policies, how independent agents process them and how carriers deliver coverages.</p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"></p>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.iamagazine.com/markets/read/2020/06/05/cybersecurity-and-homeowners-risks-and-opportunities\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Cybersecurity and Homeowners: Risks and Opportunities','','inherit','closed','closed','','503-revision-v1','','','2020-06-25 17:48:33','2020-06-25 17:48:33','',503,'http://smartinsurance.tips/503-revision-v1/',0,'revision','',0),(493,1,'2020-06-23 22:50:37','2020-06-23 22:50:37','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"gnt_ar_hl\" elementtiming=\"ar-headline\" style=\"text-align: center;\"><strong>The best (and worst) states for older Americans, ranked</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\"></div>\n<div align=\"center\" style=\"text-align: justify;\">\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The retirement-age population in the United States is projected to nearly double between 2018 and 2060. For many Americans entering their golden years, living somewhere that is warm – or perhaps closer to family – is a top priority. While preferences like these are by no means trivial, there are parts of the country where conditions for older Americans are objectively better. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">It is important for Americans of all ages to have financial security and access to health care, but these factors take on increasing importance for older Americans. Other such factors include safe streets, availability of social venues, and reliable public transit. Some parts of the country are more likely to have these advantages than others. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Using data from sources including the U.S. Census Bureau and the Centers for Disease Control and Prevention, 24/7 Wall St. created an index of measures related to income, health, education, environment, and access to in order to identify the best and worst states for older Americans. </span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-2\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CO_gtM3_mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_0\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" srcdoc=\"\" data-google-container-id=\"2\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">One of the most important components in our index is income. Older Americans who are struggling financially may be unable to retire at age 65, even though they may want to. As of 2016, the share of Americans between ages 65 and 74 who were still in the labor force was 26.8% – up from 17.5% two decades earlier. Indeed, retirement is expensive and requires careful planning. Here is a look at what it costs to retire comfortably in every state. </span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-3\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CP7FsM3_mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_1\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_1\" width=\"3\" height=\"3\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" srcdoc=\"\" data-google-container-id=\"3\" data-load-complete=\"true\" data-integralas-id-7a2bdfb9-c526-43cc-926c-ebfe9a73a436=\"\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Another critical component of our index is health. As Americans age, remaining healthy can become increasingly difficult. States with higher life expectancies at age 65 and those where larger shares of older residents have a personal doctor or health care provider ranked better in this index. Many of these states also tend to have healthier populations in general. Here is a look at the healthiest states in America.</span></p>\n<figure class=\"gnt_em gnt_em_img\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"West Virginia.\" src=\"https://www.gannett-cdn.com/presto/2020/06/02/USAT/bda2341c-7fd3-4996-8678-7df0006c0a8f-new-river-gorge-bridge-west-virginia.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/presto/2020/06/02/USAT/bda2341c-7fd3-4996-8678-7df0006c0a8f-new-river-gorge-bridge-west-virginia.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"West Virginia.\" data-c-credit=\"BackyardProduction, Getty Images/iStockphoto\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>50. West Virginia</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 82.5 years (tied - the lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.0% (14th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 41.2% (3rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $36,147 (the lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 361,216 (20.0% - 3rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Based on our index, West Virginia ranks as the worst state in the country to grow old in, in large part because of the myriad of health issues for seniors in the state. West Virginia is one of just four states where 40% or more of residents 65 and older have a disability. The state is tied with Kentucky for having the second shortest life expectancy for people who are 65. H</span><gannett-atoms-component-newsletter-cta link-newsletter=\"https://user.usatoday.com/USAT-GUP/user/newsletters/\" link-attributes=\"https://user.usatoday.com/USAT-GUP/user/attributes/\" link-help=\"https://help.usatoday.com/\" link-profile=\"https://profile.usatoday.com/newsletters/manage\" link-register=\"https://login.usatoday.com/USAT-GUP/authenticate?requested-state=create-account&amp;return-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F17%2Fthe-best-and-worst-states-for-older-americans-ranked%2F111331626%2F&amp;cancel-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F17%2Fthe-best-and-worst-states-for-older-americans-ranked%2F111331626%2F&amp;success-url=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fmoney%2F2020%2F06%2F17%2Fthe-best-and-worst-states-for-older-americans-ranked%2F111331626%2F&amp;reg_source=NEWSLTRCTA&amp;reg_medium=ONSITE&amp;reg_campaign=newsletters&amp;reg_delivery=atoms\" ssts=\"money\" authorized=\"false\" authenticated=\"false\" class=\"hydrated\"><span style=\"color: #000000; font-size: 14px; text-align: left;\">igher education is tied to empowerment, and West Virginia\'s retirement-age citizens are the least likely to have a bachelor\'s degree.</span></gannett-atoms-component-newsletter-cta></p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>49. Arkansas</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 82.9 years (tied - 6th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.2% (tied - 11th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 41.9% (2nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $37,762 (4th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 507,676 (16.8% - 22nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Access to quality public transportation can help retirement-age residents maintain their independence, particularly as declining health or eyesight means some are no longer able to drive. Using workers taking public transportation as a proxy for the state infrastructure, Arkansas\'s public transportation network is one of the most limited in the country. Less than 0.5% of workers in the state use public transportation to go to work, compared to some 5% of workers nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Like many of the states that rank as worse places to grow old, Arkansas ranks especially poorly in measures of senior health, including life expectancy at 65 and older Americans with a disability.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>48. Mississippi</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 82.6 years (3rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 12.4% (tied - 2nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 39.6% (6th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $36,415 (3rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 474,423 (15.9% - 19th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Like many of its neighbors in the South, Mississippi ranks as one of the worst states for older Americans, largely due to measures of retirement-age income, education, and health. People who are 65 today are expected to live to the age of 82.6, which is the third lowest life expectancy in the U.S. and almost two years lower than the national life expectancy at 65. Mississippi is also one of a minority of states where more than one in four seniors do not have a personal doctor or health care provider.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>47. Louisiana</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.1 years (tied - 8th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 12.4% (tied - 2nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 38.0% (8th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $36,345 (2nd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 720,610 (15.5% - 10th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Retirement-age Americans living in Louisiana are more likely to be struggling financially than those living in nearly every other state. The typical 65 and older household in the state earns just $36,345 a year, well below the national median income of retirement-age households of $44,992. Similarly, 12.4% of the state\'s 65 and older population lives below the poverty line, the second highest elderly poverty rate among states.</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-4\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CPHgtM3_mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_2\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_2\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" srcdoc=\"\" data-google-container-id=\"4\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The overall quality of life in Louisiana is also reduced by the state\'s high crime rates. Both the state\'s property and violent crime rates rank among the highest in the country.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>46. Alabama</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 82.7 years (4th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.3% (tied - 9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 39.0% (7th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $37,977 (5th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 829,663 (17.0% - 19th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Alabama ranks as one of the worst states for older Americans in several different categories in our index, including health, education, and environment. For example, the state appears to have one of the least extensive public transportation networks of any state. Seniors are vulnerable to violence and are less likely to recover, and Alabama has one of the highest violent crime rates in the country.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>45. Kentucky</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 82.5 years (tied - the lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.2% (tied - 11th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 39.7% (5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $38,254 (6th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 731,392 (16.4% - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Kentucky\'s older residents are among the least likely to be healthy compared to those in other states. There were over 4,700 deaths per 100,000 people 65 and older in the state in 2018, the second highest rate of any state. The state is also tied with West Virginia for having the second lowest life expectancy at 65 of any state. Just under 40% of state retirement-age residents have some form of disability, the fifth highest share of any state.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>44. Tennessee</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.1 years (tied - 8th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.2% (19th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 37.4% (tied - 9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $39,933 (7th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.1 million (16.3% - 23rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">For many senior citizens with deteriorating vision and reaction time, driving is not an option. This is often why older Americans may choose to live in areas with reliable public transportation. In Tennessee, however, public transit may be harder to rely on as just 1.3% of workers commute using public transportation or walk, well below the 7.5% share of commuters nationwide and likely indicative of a poor transit system.</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-5\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CPLgtM3_mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_3__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_3\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_3\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" srcdoc=\"\" data-google-container-id=\"5\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The overall quality of life in Tennessee is also reduced by high crime rates. The concentration of violent crimes in the state is the third highest in the country, and the property crime rate ranks 10th highest among states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>43. Oklahoma</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 82.9 years (tied - 6th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.7% (tied - 25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 42.6% (the highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $40,928 (10th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 619,601 (15.7% - 15th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Based on the measures used in the index, Oklahoma has the least healthy retirement-age population in the country. Of all residents in the state who are at least 65, a nation-highest 42.6% have some form of disability, compared to a national share of 33.9%. The state also has the highest annual mortality rate for seniors, with 4,715 deaths per 100,000 people 65 and over, nearly 700 deaths above the national rate.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The state also appears to have a relatively weak public transportation network – an important factor in independence for people 65 and older.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>42. Nevada</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.9 years (tied - 18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.8% (15th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.6% (tied - 25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $46,406 (16th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 475,120 (15.7% - 13th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Nevada\'s ranks as the second worst state in measures of environment and access in our index. Notably, the state has the smallest concentration of social associations per person 65 and over, as well as one of the highest violent crime rates in the country. Additionally, more than 30% of Nevada\'s seniors do not have a doctor or personal health care professional.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>41. Texas</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.2 years (tied - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 11.1% (6th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 36.4% (tied - 12th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $44,319 (22nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 3.6 million (12.5% - 3rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Retirement-age Americans are more likely to be struggling financially in Texas than in the vast majority of other states. Of the 65 and older population in Texas, 11.1% live below the poverty line, a larger share than in all but five other states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Senior citizens in Texas are also more likely to have to rely on a personal vehicle for transportation than most older Americans. Just 2.8% of commuters in the state use public transportation or walk, well below the 7.5% share of commuters nationwide.</span></p>\n<figure class=\"gnt_em gnt_em_img\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"Missouri.\" src=\"https://www.gannett-cdn.com/presto/2020/06/02/USAT/fe7cb3fc-e833-46e4-a1c5-e6449fb7c342-imageforentry11-6kv.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/presto/2020/06/02/USAT/fe7cb3fc-e833-46e4-a1c5-e6449fb7c342-imageforentry11-6kv.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"Missouri.\" data-c-credit=\"Source: JTGrafix / Getty Images\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>40. Missouri</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.6 years (14th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.2% (19th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 36.4% (tied - 12th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $41,038 (11th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.0 million (16.9% - 21st highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Missouri ranks among the worst states for seniors in measures of income and health. The state has a below average life expectancy at 65 and an above average share of retirement-age residents with a disability. The state also has relatively high property and violent crime rates, which reduces overall quality of life.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>39. New Mexico</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.7 years (tied - 13th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 13.3% (the highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 40.0% (4th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $39,989 (8th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 368,480 (17.6% - 12th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">In New Mexico, only 42.2% of 65 and older households have retirement income in the form of a 401(k), pension, or similar source, lower than the nationwide share of 48.5% of retirement-age households. The smaller share of older residents with a steady income likely contributes to the state\'s high poverty rate among the 65 and older population. A staggering 13.3% of retirement-age New Mexico residents live below the poverty line, the highest rate of any state and well above the 9.4% national rate.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>38. Indiana</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.4 years (11th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.9% (tied - 16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.9% (15th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $41,342 (13th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.1 million (15.7% - 14th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">For Indiana\'s retirement-age population who can no longer drive, getting around is likely more difficult than it is for senior people in much of the rest of the country. Just 2.8% of commuters in the state use public transit, well below the 7.5% national average. Low usage rates can be indicative of inaccessible, unreliable, or underdeveloped public transportation infrastructure.</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-6\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CPPgtM3_mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_4__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_4\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_4\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" srcdoc=\"\" data-google-container-id=\"6\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Life expectancy for those at age 65 in the state is also lower than average. Life expectancy for those turning 65 years old in Indiana is an additional 18.4 years to 83.4 years, lower than in most states and a year below the national average.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>37. Ohio</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.2 years (9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.6% (tied - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.1% (tied - 18th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $41,406 (15th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 2.0 million (17.1% - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Ohio compares relatively well to other states in terms of senior income. Close to 55% of state residents 65 or older have some form of retirement income in the form of a 401(k), pension, or similar source, which is well above the 48.5% share nationwide, and the state\'s poverty rate among retirement-age residents is lower than the national rate.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">However, Ohio\'s older residents are more likely than most to be in poor health. The state has one of the highest annual mortality rates among residents 65 or older, and Ohio ranks among the 10 worst states in life expectancy at 65.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>36. South Carolina</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.3 years (10th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.5% (16th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.3% (tied - 16th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,161 (17th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 899,754 (17.7% - 10th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">For South Carolina residents who are 65 years old, average life expectancy is an additional 18.3 years to 83.3, more than a year below the national average of 84.4. The state\'s retirement-age population is also more likely to be suffering from a disability than those in most other states.</span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-7\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"CPTgtM3_mOoCFcJOiwodI8oMgw\">\n<div id=\"google_ads_iframe_7103/usatoday/native-article_link/money_5__container__\"><span style=\"color: #000000;\"><iframe id=\"google_ads_iframe_7103/usatoday/native-article_link/money_5\" title=\"3rd party ad content\" name=\"google_ads_iframe_7103/usatoday/native-article_link/money_5\" width=\"300\" height=\"250\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" srcdoc=\"\" data-google-container-id=\"7\" data-load-complete=\"true\"></iframe></span></div>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Still, likely due in part to the state\'s warm climate, South Carolina is a popular place for older Americans. The retirement-age population of nearly 900,000 accounts for 17.7% of the state\'s total population, a larger than average share. Additionally, 2.2% of older adults in the state moved there in the last year, a larger share than in all but a handful of other states.</span></p>\n<aside class=\"gnt_em gnt_em_cp\" aria-label=\"You may also be interested in\" data-c-cta=\"DIG DEEPER\">\n<div class=\"gnt_em_cp_cw\">\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>35. Georgia</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.5 years (tied - 13th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.2% (tied - 11th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.0% (tied - 20th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,781 (22nd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.5 million (13.8% - 4th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">For older residents, Georgia compares favorably to many other states in the South, but it still ranks poorly relative to national averages. The state ranks relatively poorly in measures of senior health, with a below-average life expectancy at 65. It also has one of the highest shares of retirement-age residents who do not have a personal doctor or health care provider.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The state has one of the smaller senior populations in the country relative to the general population – just 13.8% of residents are 65 or older.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>34. Idaho</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.4 years (tied - 23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.6% (tied - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 35.3% (14th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,678 (20th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 279,441 (15.9% - 20th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Remaining socially engaged through retirement can greatly improve quality of life. In Idaho, however, that may be more difficult than in other states. There are only 45.5 social organizations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – for every 100,000 65 and older residents in Idaho, well below the national concentration of 58.0 per 100,000.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Still, older Idaho residents are more likely than most older Americans to own a home and maintain independence. The homeownership rate among 65 and older Idaho residents is 83.6% – higher than in all but a handful of other states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>33. Florida</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.3 years (tied - 5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.6% (7th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 32.8% (18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $43,804 (24th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 4.4 million (20.5% - 2nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Florida is known as a state that many senior citizens choose to move to in retirement. Just over 20% of state residents are 65 and older, the second highest share in the country after Maine. Still, while Florida\'s older population is more likely to find people their own age, they are also more likely to face financial difficulties. A relatively small share of the state\'s 65 and over population have some form of retirement income, less than in most other states, and the state\'s poverty rate among 65 and older residents of 10.6% is the seventh highest among states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>32. Michigan</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.9 years (tied - 18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.0% (tied - 22nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.1% (tied - 18th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,816 (23rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.7 million (17.2% - 15th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">In the senior income segment of our index, Michigan ranks favorably compared to most states. About 57% of state retirement-age households have some form of retirement income, the second highest share of any state. Michigan also has a below average senior poverty rate.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">In measures of environment and access for older residents, the state does not perform as well. The state has a relatively low concentration of social associations per 65 and over resident and relatively few hospitals per capita.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>31. North Dakota</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.5 years (tied - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.3% (tied - 9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.4% (22nd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $44,824 (21st highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 116,433 (15.3% - 7th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Just 37.5% of 65 and older households in North Dakota have some have retirement income in the form of a 401(k), pension, or similar source, the smallest share of any state. Likely partially as a result, the state\'s 10.3% elderly poverty rate is higher than average.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Still, quality of life for the state senior citizens is bolstered by the highest concentration of hospitals and the highest concentration of social associations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – of any state.</span></p>\n<figure class=\"gnt_em gnt_em_img\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"North Carolina.\" src=\"https://www.gannett-cdn.com/-mm-/b2b05a4ab25f4fca0316459e1c7404c537a89702/c=0-0-1365-768/local/-/media/2020/02/18/USATODAY/usatsports/imageforentry21-5ar.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/-mm-/b2b05a4ab25f4fca0316459e1c7404c537a89702/c=0-0-1365-768/local/-/media/2020/02/18/USATODAY/usatsports/imageforentry21-5ar.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"North Carolina.\" data-c-credit=\"Sean Pavone / Getty Images\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>30. North Carolina</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.9 years (tied - 18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.7% (tied - 25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.3% (tied - 16th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $41,169 (12th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.7 million (16.3% - 22nd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Senior citizens in North Carolina are slightly less likely to be struggling financially than those in much of the rest of the country. The poverty rate among the state\'s 65 and older population is 8.7%, compared to the 9.4% national 65 and over poverty rate.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Disadvantages for the state\'s older population include inaccessible, unreliable, or underdeveloped public transportation infrastructure, as evidenced by low usage rates. Just 2.8% of commuters in the state use public transit, well below the national average of 7.5%.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>29. Pennsylvania</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.0 years (tied - 20th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.3% (20th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.2% (21st lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $41,762 (16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 2.3 million (18.2% - 8th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">There are more than 2.3 million retirement-age Pennsylvania residents, more than in all but four other states. The state\'s older residents benefit from a higher than average concentration of hospitals as well as social associations, such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Still, just 15.1% of older Pennsylvania residents have their own doctor or health care provider, which can improve the quality of care received and can be critical in old age. Life expectancy at age 65 in Pennsylvania is also shorter than it is in most other states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>28. Arizona</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.1 years (8th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.6% (tied - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.6% (tied - 25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $46,152 (17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.3 million (17.6% - 13th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Financial security can be critical to quality of life, and Arizona\'s older population is more likely than most 65 and older Americans to have retirement income in the form of a 401(k), pension, or similar source and less likely to live below the poverty line.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">While the state may be an attractive option for many older Americans looking to retire in a warmer climate, remaining social into old age may be harder in Arizona than most other states. The state has a relatively low concentration of social associations like clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations just 31.6 per 100,000 65 and older residents, well below the national concentration of 58.0 per 100,000.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>27. Wisconsin</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.7 years (tied - 13th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.9% (tied - 16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 30.6% (4th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $41,362 (14th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 986,483 (17.0% - 20th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Wisconsin\'s seniors tend to have relatively low incomes. The median annual household income for 65 and older households is $41,362, which is roughly $3,600 below the comparable national median income. However, a relatively small 7.9% of 65 and older residents live in poverty in the state, compared to the comparable national poverty rate of 9.4%.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Just 30.6% of retirement-age residents in the state have some form of disability, the fourth smallest share among states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>26. Illinois</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.5 years (tied - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.8% (24th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 32.0% (16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $44,955 (19th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 2.0 million (15.6% - 12th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Access to quality public transportation can help seniors maintain their independence, particularly as declining health or eyesight means some are no longer able to drive. Using the share of workers who commute by taking public transportation as a proxy for the quality and reach of the state\'s public transit, Illinois has one of the widest reaching public transportation networks of any state. In several of the categories considered for this index, including education and environment and access, the state ranks approximately in the middle of all states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>25. Iowa</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.5 years (tied - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.1% (6th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.1% (tied - 9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,995 (25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 537,818 (17.0% - 18th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Remaining socially engaged through retirement can greatly improve quality of life – and in Iowa, doing so is likely easier than in other states. There are 84.5 social organizations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – for every 100,000 65 and older residents in Iowa, the fifth highest concentration among states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>24. Rhode Island</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.6 years (tied - 15th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 11.2% (5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 32.4% (17th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,424 (19th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 182,645 (17.3% - 14th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Rhode Island ranks relatively poorly in the income category of our index gauging the best states for older Americans. With 11.2% of residents 65 and over living in poverty, the state has one of the highest senior poverty rates of any state.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">However, in other categories, such as health and education, it ranks better than the majority of states for older Americans.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>23. California</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.7 years (2nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 10.5% (8th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.5% (23rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $54,272 (6th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 5.7 million (14.3% - 6th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Life expectancy at age 65 in California is an additional 20.7 years to 85.7 years, the second highest among states and higher than the additional 19.4 years national average. Life expectancy in the state is high despite a lower than average share of older state residents who have their own doctor or health care provider and a lower than average concentration of hospitals.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Additionally, while the median income among retirement-age households in California of $54,272 is higher than in most states. Also, the state\'s high cost of living means a dollar does not go as far. Goods and services in California are about 15% more expensive on average than they are nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>22. Nebraska</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.4 years (tied - 23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.6% (tied - 12th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.7% (24th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,851 (24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 303,998 (15.8% - 16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Only 41.3% of 65 and older households in Nebraska have some form of retirement income, the third lowest share of any state. Still, Nebraska\'s 65 and older poverty rate of 7.6% is lower than most states and the 9.4% national average. The greater financial security among the state\'s older population is likely due in part to a low cost of living. Good and services are about 10% less expensive on average in Nebraska than they are nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>21. Maine</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.7 years (15th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.1% (tied - 20th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.8% (23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $40,435 (9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 276,069 (20.6% - the highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Maine has the lowest violent crime rate of any state in the U.S. and the fourth lowest property crime rate, which improves overall quality of life. The state also has one of the lowest shares of 65 and older residents who do not have a doctor or health care provider, at 14.8% compared to the national share of 22.8%.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">However, Maine compares poorly to most states in the senior income section of our index. Just under 45% of retirement-age households in the state have some form of retirement income such as a pension or 401(k), tied with Oklahoma as the ninth smallest share among states.</span></p>\n<figure class=\"gnt_em gnt_em_img\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"Wyoming.\" src=\"https://www.gannett-cdn.com/-mm-/d8d0774057d19139d16e6ede624d76e89947662d/c=1-0-1365-767/local/-/media/2020/02/18/USATODAY/usatsports/247WallSt.com-247WS-646213-imageforentry5-4tu.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/-mm-/d8d0774057d19139d16e6ede624d76e89947662d/c=1-0-1365-767/local/-/media/2020/02/18/USATODAY/usatsports/247WallSt.com-247WS-646213-imageforentry5-4tu.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"Wyoming.\" data-c-credit=\"Dean_Fikar / Getty Images\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>20. Wyoming</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.2 years (tied - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.3% (tied - 9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.9% (22nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $44,870 (20th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 96,557 (16.7% - 23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">In Wyoming, almost one-third of 65 and older residents do not have a personal doctor or health care provider, the largest share of any state after Alaska. However, the state ranks relatively well in other measures of our index, notably the category that measures environment and access. The state has one of the higher concentrations of social associations per 65 and older citizens.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>19. South Dakota</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.4 years (tied - 23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.0% (tied - 22nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.2% (tied - 11th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,361 (18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 146,358 (16.6% - 24th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Access to public transportation can be important for older Americans who are unable to drive and rely on transit for mobility and independence. Compared to other states, South Dakota\'s public transportation system is relatively small. Just 0.2% of workers in the state take public transportation or walk to work.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The state ranks well, however, in some other measures of quality of life for seniors. For example, the state has the second highest concentration of social organizations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – per 65 and older resident.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>18. Kansas</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.0 years (tied - 20th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.0% (tied - 18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 36.5% (11th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,989 (25th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 462,191 (15.9% - 18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">High crime rates. There were 439.0 violent crimes per 100,000 people in the state in 2018 and 2,633.9 property crimes per 100,000 – each higher than the national averages of 380.6 per 100,000 and 2,199.5 per 100,000, respectively.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Still, by several measures, senior citizens in the state are doing better than most of their counterparts nationwide. For example, just 8.0% of Kansas residents 65 and older live below the poverty line compared to 9.4% of retirement-age Americans nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>17. New York</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.6 years (3rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 11.8% (4th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.5% (12th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $45,302 (18th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 3.2 million (16.4% - 25th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Access to quality public transportation can help older Americans maintain their independence, particularly as declining health or eyesight means some are no longer able to drive. Using the share of workers who take public transportation as a proxy for the quality and reach of the state\'s transit system, New York has the widest reaching public transportation networks of any state – with 28% of commuters statewide relying on it.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">By other measures, senior citizens in New York are at a disadvantage. For example, 11.8% of the state population 65 and older lives below the poverty line, a larger share than in all but three states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>16. Montana</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 83.5 years (tied - 13th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.4% (17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.9% (tied - 15th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $42,745 (21st lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 200,239 (18.8% - 5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Retirement-age adults in Montana are less likely to have a personal doctor or health care provider than most Americans 65 and older. Still, obtaining health care when necessary may not be as difficult for older Montana residents as the state has a far higher per capita concentration of hospitals than the national average.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Remaining socially engaged through retirement can greatly improve quality of life, and in Montana, doing so is likely easier than in other states. There are 74.9 social organizations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – for every 100,000 65 and older residents in Montana, compared to 58.0 per 100,000 nationwide.</span></p>\n<aside class=\"gnt_em gnt_em_cp\" aria-label=\"WFH? We got you\" data-c-cta=\"DIG DEEPER\">\n<div class=\"gnt_em_cp_cw\"></div>\n</aside>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>15. Oregon</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.5 years (tied - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.9% (tied - 16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.6% (tied - 25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $47,314 (14th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 739,611 (17.6% - 11th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Older Oregon residents are more likely to be financially secure than the typical retirement-age American. The median income among 65 and older households in the state is $47,314, slightly higher than the comparable national median of $44,992. Additionally, the poverty rate among Oregon\'s 65 and older population is just 7.9%, lower than the 9.4% poverty rate among elderly Americans nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>14. New Jersey</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.3 years (5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.0% (tied - 18th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 30.0% (2nd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $53,637 (8th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.4 million (16.1% - 21st lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Despite a far higher than average cost of living, New Jersey\'s retirement-age population is more likely to be financially secure than most older Americans. The typical retirement-age household has an annual income of $53,637, well above the $44,992 comparable national median. Additionally, just 8.0% of New Jersey residents 65 and older live below the poverty line compared to the 9.4% national poverty rate among older Americans.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Life expectancy is also higher than average in the Garden State. For New Jersey residents who are 65 years old, life expectancy is 85.3 years, nearly a year longer than the national average life expectancy at 65.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>13. Minnesota</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.3 years (tied - 5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.6% (tied - 12th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 30.9% (tied - 7th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $47,054 (15th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 888,634 (15.8% - 17th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Minnesota\'s eldery population ranks among the healthiest in the United States. Life expectancy at age 65 in the state is an additional 20.3 years to 85.3 years, nearly a year longer than the national average. The state\'s elderly population is also far less likely to be struggling financially than most older Americans as just 7.6% of retirement-age Minnesota residents live below the poverty line, well below the comparable national rate of 9.4%.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Quality of life in Minnesota is also boosted by low crime rates. Both the state\'s violent crime rate and property crime rate are lower than the comparable national averages.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>12. Alaska</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.1 years (21st lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 6.7% (5th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 37.4% (tied - 9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $59,339 (3rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 88,000 (11.9% - 2nd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Incomes are higher for retirement-age households in Alaska than they are in nearly every other state. The median household income of 65 and older households in the state is $59,339, about $14,000 more than the median nationwide. Additionally, Alaska\'s 65 and over poverty rate of just 6.7% is the fifth lowest among states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Remaining socially engaged through retirement can greatly improve quality of life – and in Alaska, doing so is likely easier than in other states. There are 95.5 social organizations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – for every 100,000 65 and older residents, compared to 58.0 per 100,000 nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>11. Delaware</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.4 years (tied - 23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 6.1% (tied - 3rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 30.9% (tied - 7th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $54,744 (4th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 180,756 (18.7% - 6th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Like many of the states ranking highly on this list, Delaware\'s elderly population is more likely to be financially secure than most older Americans. The typical 65 and older household in Delaware earns $54,744 a year, more than in all but three other states. Additionally, just 6.1% of the state\'s 65 and older population lives below the poverty line, well below the 9.4% national poverty rate for older Americans. Life expectancy for those who are 65 in the state is an additional 19.4 years to 84.4, in line with the national average life expectancy at 65.</span></p>\n<figure class=\"gnt_em gnt_em_img\"><span style=\"color: #000000;\"><img class=\"gnt_em_img_i\" data-g-r=\"lazy\" decoding=\"async\" alt=\"Virginia.\" src=\"https://www.gannett-cdn.com/-mm-/d8d0774057d19139d16e6ede624d76e89947662d/c=1-0-1365-767/local/-/media/2020/02/18/USATODAY/usatsports/imageforentry10-esm.jpg?width=660&amp;height=372&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" srcset=\"https://www.gannett-cdn.com/-mm-/d8d0774057d19139d16e6ede624d76e89947662d/c=1-0-1365-767/local/-/media/2020/02/18/USATODAY/usatsports/imageforentry10-esm.jpg?width=1320&amp;height=744&amp;fit=crop&amp;format=pjpg&amp;auto=webp 2x\" /></span>\n<p>&nbsp;</p>\n<div class=\"gnt_em_img_ccw gnt_em_img_ccw__cap gnt_em_img_ccw__crd\" data-c-caption=\"Virginia.\" data-c-credit=\"Sean Pavone / Getty Images\"></div>\n</figure>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>10. Virginia</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.5 years (tied - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 8.4% (21st lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 33.1% (20th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $51,401 (11th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.3 million (15.5% - 11th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Virginia\'s high ranking is due in part to its high quality of life, bolstered by low crime rates. Both Virginia\'s violent and property crime rates fall well below the comparable national averages.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Remaining socially engaged through retirement can greatly improve quality of life – and in Virginia, doing so is likely easier than in other states. There are 73.1 social organizations – such as clubs, bowling centers, golf clubs, fitness centers, sports organizations, or religious organizations – for every 100,000 65 and older residents, compared to 58.0 per 100,000 nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>9. Vermont</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.8 years (12th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.3% (18th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.9% (tied - 15th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $44,302 (23rd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 123,875 (19.8% - 4th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">In the income component of our index, Vermont ranks poorly compared to most states, in part due to the fact that only 41.9% of senior households have some form of retirement income like a pension or 401(k), the fourth lowest share among states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">However, life for older citizens in Vermont is comparably good by many other measures, including access, education, and health. In the state, just 14.3% of 65 and older residents lack a personal doctor or health care provider, the fourth lowest share of any state.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>8. Washington</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.9 years (tied - 10th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.2% (7th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 34.0% (tied - 20th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $52,150 (9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.2 million (15.4% - 9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">For many senior citizens with deteriorating vision and reaction time, driving is not an option. This is often why older Americans may choose to live in areas with reliable public transportation. In Washington, public transit is likely easier to rely on as 10.7% of workers commute using public transportation or by walking, above the 7.5% share of commuters nationwide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Life expectancy at age 65 in Washington is also higher than average. The typical 65 year old in Washington is expected to live to be 84.9 years old, about half a year above the national average.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>7. Massachusetts</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.9 years (tied - 10th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 9.1% (tied - 20th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.2% (tied - 11th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $49,756 (13th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 1.1 million (16.5% - 25th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Massachusetts ranks as one of the best states in the country in measures of senior education and health. A higher than average 35% of the state\'s 65 and over residents have a bachelor\'s degree, which can be tied to empowerment.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Additionally, the state has among the highest life expectancy at 65. This high life expectancy may be partly related to the fact that only 13.3% of retirement-age residents in the state do not have a personal doctor or health care provider, the lowest share nationwide and significantly lower than the national share of 22.8%.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>6. Utah</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.5 years (tied - 17th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 6.1% (tied - 3rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 32.9% (19th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $53,670 (7th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 351,297 (11.1% - the lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Utah does not rank quite as well as some of the other best states for older Americans in measures of individual health, but it ranks as one of the best in the education and income categories of our index. It is one of just four states where over 55% of 65 and older households have some form of retirement income like a pension or 401(k) compared to a national share of 48.5%. Also, just 6.1% of Utah\'s retirement-age population lives below the poverty level, the third smallest share of any state.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>5. Connecticut</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.4 years (4th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.9% (tied - 16th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 29.4% (the lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $54,629 (5th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 613,147 (17.2% - 16th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Connecticut has one of the healthier senior populations in the country. The state has a relatively high life expectancy at 65. It is also the only state in the country where less than 30% of the retirement-age population has a disability of some kind. The state also has the fifth highest median household income for those 65 and and older at $54,629.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>4. New Hampshire</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.2 years (tied - 24th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 5.5% (the lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 30.5% (3rd lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $50,240 (12th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 245,156 (18.1% - 9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">In New Hampshire, just 5.5% of the senior population lives below the poverty line, the smallest share of any state and well below the national poverty rate of 9.4% among Americans 65 and older. New Hampshire also has one of the smallest shares of retirement-age residents with a disability. Just 13.8% of the state\'s older residents do not have a personal doctor or health care provider, the second lowest share of any state. New Hampshire also has one of the lowest violent crime rates and the lowest property crime rate in the country.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>3. Hawaii</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 86.5 years (the highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 6.5% (4th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.7% (13th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $65,078 (the highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 261,467 (18.4% - 7th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">No state ranks better in the health category of our index than Hawaii. People who are 65 in the state can be expected to live to an average age of 86.5 years, longer than any other state and more than two years longer than the national average life expectancy at 65.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">While goods and services tend to be very expensive in the state, the typical 65 and older household has an income of $65,078, the highest in the country and over $20,000 higher than the national median income for 65 and over households. Hawaii\'s 6.5% poverty rate among retirement-age residents is fourth lowest in the country.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>2. Maryland</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 84.6 years (tied - 15th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.3% (tied - 9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 30.7% (5th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $59,536 (2nd highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 931,041 (15.4% - 8th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">While Maryland compares unfavorably to most states in the environment and access component of our index, it ranks as one of the best in the education, income, and health components. Notably, the state has the second highest median income among 65 and over households and the second highest bachelor\'s degree attainment rate among retirement-age residents.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>1. Colorado</strong></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Life expectancy at age 65:</strong> 85.0 years (9th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older poverty rate:</strong> 7.4% (10th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• 65 and older pop. with a disability:</strong> 31.1% (tied - 9th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Median income for 65 and older households:</strong> $51,537 (10th highest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"><strong>• Population 65 and older:</strong> 807,855 (14.2% - 5th lowest)</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Colorado