NICE, France (Reuters) - Most weekdays, 64-year-old Joelle Svetchine steps out of her French Riviera apartment, checks the sun is shining and the sea calm, and decides whether to go rowing.

It clears your head being out on the water, the pensioner told Reuters as she sculled across a bay near Nice under a blue sky. Im lucky to have free time and to be in good health, to have this freedom and no longer worry about work.

The former physiotherapist says she can lead an active life because she retired at the age of 61 and 1/2, benefiting from a pension system that allows many French workers to stop working years before their peers in other parts of Europe.

That system though is now under threat from a reform of the pension system being driven through by President Emmanuel Macron. His reform has provoked weeks of protests and strikes.

France has one of the earliest retirement ages among industrialized nations and its pensioners enjoy the third highest income level on a purchasing power basis of all European Union citizens, behind only those in Luxembourg and Austria.

Macron, a former investment banker, is pressing ahead with creating a universal pension system from a mishmash of schemes, each with their own benefits. He says it will be fairer. Trade unions say it will mean workers affected could have to work longer to get the same pension.

Macron has for now pulled back on another plank of his reform, raising the retirement age by two years to 64, but that could be a temporary retreat as the government says the system is underfunded.

Svetchine began working in the private sector before switching to public hospitals. She said she frequently saw workplace injuries the likes of which unions cite as justification for rail workers, dockers and others retiring up to a decade earlier than typical workers.

In all jobs, the body gets worn down. I know that in foreign countries, like Germany, people work longer. But in what state? Svetchine said.

Macron has said a single, points-based system which gives every worker the same rights for every euro contributed will be fairer, in particular for women.

That aspect of the reform, at least, resonates with Svetchine, who failed to reach her full pension by the legal retirement age after having taken two years maternity leave and later working part-time.

But she expressed support for the anti-reform strikes and protests.

Longer life expectancies meant that the early 50s was perhaps too early to retire nowadays, but a one-size-fits-all system that did not factor in a jobs physical and mental demands would be unjust, said Svetchine.

After all, to enjoy retirement, you need to be in good shape, she said.

Editing by Richard Lough and Alexandra Hudson

See more here:
A place in the sun: French defend right to retire early - Reuters

Hero Images | Hero Images | Getty Images

Many Americans believe they will live longer than their parents.

For younger generations, that has led to a big concern: how they will provide financially for those extended years.

That's according to a new online poll from the Longevity Project and Morning Consult, which surveyed 2,200 U.S. adults in December.

Of the individuals polled, 63% said they expect their lives to be longer than their parents'. That rate was even higher for members of Gen Z, those ages 18 to 22, with 70% indicating they expect to live longer.

More from Personal Finance:Here's how to pay down debt and set yourself up for success This online tool helps figure out how much cash you need Here's when your tax return could spark interest from the IRS

Despite those hopes, many individuals are not saving more to prepare for those extended years, the poll found. In fact, many Americans believe they are saving less than previous generations.

In fact, 48% said they are not saving as much for for retirement as they should, and 50% feel unprepared in their ability to plan for their later years.

And many younger Americans feel less comfortable relying on one income source that has been a staple for generations Social Security.

While 83% of baby boomers expect to have some income from Social Security, that drops to 64% for Generation X. Meanwhile, just 42% of millennials and 38% of Gen Z plan to depend on those benefits.

On the other hand, across all generations, Social Security benefits are expected to be one of the biggest sources of income. That's alongside personal savings and investments and 401(k) and 403(b) retirement savings plans.

The results come as Social Security faces a looming funding shortfall. The Social Security Administration's latest estimate projects that the trust funds will be depleted in 2035. At that point, only 80% of promised benefits will be payable, according to the agency's calculations.

"There's probably more irrational worrying than there needs to be," said Sri Reddy, senior vice president of retirement and income solutions at Principal Financial Group.

That's because the system will continue to pay benefits, even if they are reduced, he said.

"It's not like Social Security is going away," he said.

Yet other recent research has shown that living on just Social Security alone in retirement is not enough.

While Social Security helps to shrink the wealth gap between high-wage earners and low-wage earners, many still face poverty in retirement, The New School Schwartz Center for Economic Policy Analysis in New York recently found.

Separately, an analysis by the University of Massachusetts Boston found that there isn't one county in the U.S. where Social Security benefits equal the cost of living. That is, the cost of living is always higher.

Read more here:
Here's where younger generations expect their retirement income to come from - CNBC

N1803P42002H

(Metro Creative Connection)

(Metro Creative Connection)

AARP Maine is hosting a webinar for small businesses at 12 noon on Wednesday, Feb. 5, 2020.

PORTLAND, Maine AARP Maine is hosting a webinar for small businesses at 12 noon on Wednesday, Feb. 5, 2020. The webinar will focus on how to improve retirement security for Mainers and what that means for small business owners.

AARP Maines recentsurvey of registered Maine votersshows that retirement security is a major concern for Maine residents.

Join Lori Parham, State Director of AARP Maine, for this important policy briefing which will include a chance to learn more about LD 594 and opportunities for small business owners to share their perspective.

WHAT:AARP Policy Briefing Webinar Ensuring Retirement Security for All MainersRSVP HERE Registration is required

WHEN:February 5, 2020 at 12:00 pm ESTJOIN THE WEBINAR HERE!

WITH:Lori Parham, State Director, AARP Maine

Thank you for reading your 4 free articles this month. To continue reading, and support local, rural journalism, please subscribe.

Read the rest here:
AARP Maine to host webinar for small businesses on improving retirement security - The County

Were never going to get to hear the Hall of Fame speech. Thats a shame because Kobe Bryant would have delivered an all-timer. So many of those speeches are meant to be disposable. An athlete thanks their family, their friends, their god and their agent, and then moves on from the spotlight, sometimes for good.

Occasionally, the speeches are truly memorable. Michael Jordan went scorched earth on the legion of critics and haters that had apparently occupied his mind even when that number of doubters was both small and inconsequential. In doing so, Jordan chose to be remembered as a far pettier man than the universally beloved figure he was during his prime.

Like Jordan, Kobe played the game with a singular domination that didnt lend itself to making friends with his enemies. That was a great part of his appeal for a great many people, but it was the attention to detail in his craft, the endless quest for perfection in an imperfect sport that resonated even more. That wasnt so much Jordan-esque as it was Kobe personified.

Well never know for sure what Kobe would have said in Springfield. But heres a guess: he would have looked forward, not backward, because for Kobe the future was way more interesting than the past. Thats only one of the ways in which he was endlessly complex and compelling.

When he embarked on his final-season farewell tour and made himself accessible in city after city he rarely trafficked in cheap nostalgia. He had made his peace with the end of his basketball career and had somehow moved beyond the competitive rage that fueled his career. As he noted during his last NBA All-Star Game appearance in Toronto in 2016:

Im really just enjoying this whole thing, being around these players and talking to them one more time, going out and practicing and enjoying that moment in the game and enjoying that moment. So, competitiveness in terms of me trying to establish something or prove something, thats gone.

Thats a remarkable bit of self-awareness for any athlete, let alone a self-styled killer whose edge rested on an ability to bury his opponents under their own weaknesses. As the former pitcher Jim Bouton once wrote, You spend a good piece of your life gripping a baseball and in the end it turns out that it was the other way around all the time.

No, Kobe was not rooted in the past, nor would he allow it to define him. Even before he physically moved on from the game, he appeared ready to make that leap in his mind. Thats the irony of the endless debates about his legacy. Kobe may have cared deeply, but he put others on his Mt. Rushmore and declared that Jerry West was the greatest Laker.

While he had a great appreciation for the history of the game and his place in it, there was no need waste any time making his case. Kobe was above all that. He had said all he needed to say on the court. Besides, as Tony Soprano once put it, Remember when is the lowest form of communication.

Kobe fancied himself a storyteller and characters like Soprano appealed to him. After modeling his younger self on Jordan carrying out some of the worst of Jordans excesses to the nth degree Bryant remade himself into an anti-hero, a problematic construction if ever there was one.

He did so in the wake of his rape trial in Colorado, but the rape trial was not problematic in the way that word gets used as a placeholder to ignore the realities of the accusation. It was abhorrent. There is a paper trail and following it is brutal. The crime Kobe stood accused of committing was a gross violation of another persons body and humanity. There is no glossing over that, nor should there be.

The problematic part of the equation was crafting a persona that was meant to be a stand-in for his authentic self while a generation of kids wanted him to remain their unimpeachable superhero. For the anti-hero, the ends always justify the means and for Kobes most ardent admirers, his five rings gave them license to treat his words and actions as gospel.

There is a tremendous amount of power inherent in that construction, and Kobe based much of his post-basketball empire on its appeal. The Mamba Mentality was all you needed, and you, yes you, could prosper, provided you adhere to the tenants of its faith and were willing to become just as ruthlessly competitive as its founder. Viewed through a particular lens, that wasnt all bad.

I think you have to believe that theyre possible, Bryant said during that All-Star weekend in Toronto. Its easier said than done, because I think we all have dreams. But once you go through the process of trying to make those dreams a reality, you hit obstacles. And I think unfortunately because of pressure or anxiety or responsibilities, things, whatever, you kind of give up on those dreams and somewhere along the line you lose that imagination. I think its important that you never lose that. You have to keep that. Thats the most important thing. I never gave up my dream.

That sentiment is admirable, really. Too many people settle for mediocrity. Too many see the struggle and leave their dreams behind, choosing instead to live a life devoid of purpose or meaning. To give people hope and inspiration is a wondrous thing and Kobe did that with a great many people, as well.

But its something else within that quote that gives one pause. Unfortunately because of pressure or anxiety or responsibilities, things, whatever.

There was never any room in Kobes worldview for pressure or anxiety or things, whatever they may be, because to Kobe, those were merely obstacles to be defeated. There was instead a singular focus on winning, whatever the cost. That doesnt leave a lot of room for acceptance when others fail to meet those standards.

Just a few months ago, after a team of seventh-grade girls he coached took fourth place in a tournament, he laid bare his disappointment with the result in an Instagram post that reeked of sour grapes and shaming. Following an uproar, Kobe tried to soften those comments.

Websites such as ours accused him of trying to cynically triage his brand. Perhaps, thats the best way to view any charismatic figure like Bryant: cynically. Or perhaps the reframing of his motivational message was evidence of someone trying to evolve.

In retirement, Kobe took his role as a mentor seriously. He had endless credibility with players and by keeping himself at a remove from the league in any official capacity, he offered something even more unique: a truth that was not bound to any allegiance.

Kobe was particularly engaging with female athletes who possessed qualities he admired. His blessing of their achievements had the potential to carry a profound message of empowerment. More than anyone, he recognized the craft and skill of womens basketball and celebrated that as a monument to itself.

Then there are accounts of his actions during normal human interactions, such as a car accident in his neighborhood. Imagine that, Kobe the good samaritan. He was the kind of guy you wanted for a neighbor, a fellow dad with whom you could talk about life.

He took obvious delight in being a father, and that is yet another reason why this hurts so much. It was his daughter Gianna, who had promised to carry on his legacy on the court who was among those who died in a helicopter crash Sunday. Their death, and the deaths of the other people aboard that helicopter, are senseless and shocking. As parents and as people, we grieve for those who are lost and especially for those left behind.

Its hard not to look at that Kobe and see a person of empathy who possessed the capacity to change lives for the better. He certainly had that power, and he seemed to understand there were positive currents that burned just as bright as the darkness he worked so hard to cultivate as a player.

For a lot of people, Kobe was their Jordan, but he was savvy enough to realize that he had something more to offer the world than mere idolatry. Beyond his basketball legend, the repellent nature of the accusations against him, and the inherent contradictions of an inspiring yet unforgiving mantra, there was so much potential for good in his post-playing career.

Kobe Bryant was going somewhere in his life. Thats what makes his loss such an immense tragedy. Man, it would have been a helluva speech.

Read more:
What Kobe Bryant could have accomplished in retirement - SB Nation

So many players in todays NBA were raised on Kobe Bryant.

Not only did they look up to him while they were growing up as young hoopers, but he reached out to a lot of them to impart advice on how they should move on and off the court.

Since his passing, players have been paying tribute to the NBA legend in a ton of different ways. Pretty much every team that has played has taken either a 24-second or an 8-second violation turnover. Some have gone through to tip off wearing a team jersey with 8 or 24 on it.

Now, some players are about to take it a step further. Some players who were already wearing 8 and 24 jerseys are planning on switching their numbers and informally retiring them to pay homage.

Spencer Dinwiddie was the first to announce hed be doing it by switching his number to 26.

Right now, there are 33 players in the league who are wearing either 24 or 8 on their jerseys according to Basketball Reference. Its not a slam dunk that all of them will be able to change. The NBA says theyre reviewing things on a case-by-case basis.

The league allowing any player to change his number isnt a given, for business reasons. The jerseys the league is selling for these players have either 24 or 8 on them already and changing that tanks the value.

Its basically the same reason why LeBron James couldnt change his number from 23 to 6 this summer after the Anthony Davis trade. None of these players outside of Kemba Walker are really big stars, so it shouldnt be too much of a big deal.

It remains to be seen how many of them will be changing their numbers, but its a pretty dope gesture nonetheless.

Shoutout to Dinwiddie for being the first to take the leap.

Go here to read the rest:
NBA players are retiring Kobe Bryant's jersey numbers to pay their respects - For The Win

The markets have been continuously rising on a euphoric atmosphere, with relatively minimum volatility and lack of significant concerns, as corporate earnings keep hitting record highs. At this point, everyone has different types of concerns, but especially retirees or soon-to-be-retired investors face two significant disturbances:

These are natural concerns that make sense to have. Just remember those who were planning to retire around 2007-2008. Now let me make this clear, am I predicting a recession? No. My humble opinion is that we are not going to see one anytime soon. However, the combination of concerns amongst retail investors, along with how cheap equities have been international, provides an excellent opportunity to consider hedging with international stocks. The reason I think international stocks are an attractive play at this time are:

The graph below illustrates the collective earnings of the underlying S&P 500 components against the Index itself. As you can see, after the great recession, corporate earnings exceeded the Index's growth just until the last presidential election. Tax cuts, deregulation, and a robust economic environment have been pushing earnings higher, and the Index follows the trend closely. The question is, for how long can this go on?

Source: Macrotrends

The only correct answer is: nobody knows. However, what is most accepted is that, at the moment, the risk/reward factor is not favorable towards more upside. Markets take occasional breathers, reallocation of funds, and profit-taking. One thing is for sure, though. The U.S. stocks are not priced attractively for retirees and income-oriented investors. The graph below illustrates the S&P 500's (SPY) (VOO) dividend yield over the past five years, currently being ~1.81%. This is a strong indication, confirming that the overall dividend growth in the market fails to keep up with price appreciation, causing the yield to be going down. Tech stocks taking over the Index is another significant factor.

Source: Quandl

Finally, consider, for example, the utility sector. The area has been historically a go-to retirement pick, because of its low volatility, high dividend electricity, and energy providers. Even Utilities (XLU)(VPU) have now become the most expensive they have ever been, with a current sector P/E of 26.33.

Source: GuruFocus.com

Overall, I believe it is fair to say that whether a recession occurs or not during the foreseeable future, U.S. equities are pricey, and juicy dividend yields are hard to find. The solution? Go international!

Below I am going to list a few international stocks by region, which I believe are fantastic picks for retirees and income-oriented investors. Each of these stocks deserves a stand-alone article, but for now, let's focus on the general concept.

British stocks have historically been much cheaper than the U.S. ones. The main reason being they mostly trade on fundamentals and not on revenue. The British indexes are mostly comprised of energy, industrial, consumer staples, and financials. These securities carry lower multiples than tech stock, which the U.K. entirely lacks.

Below, the graph illustrates the P/E ratio of the FTSE All-Share Index, which is currently slightly above 15, much lower than the U.S. markets.How to play the United Kingdom:

I believe that a viable option is buying an ETF that follows the Index itself. The Index alone currently yields around 4.53%, which is a fair yield for income. However, the best option, in my opinion, is buying the City of London Investment Trust (OTCPK:CLIUF), trading at the London Stock Exchange.

The City of London Investment Trust invests mainly in U.K. equities with a bias towards large, multinational companies. The trust also invests in U.S. equities. What makes the trust special, however, is its outstanding track record of 52 consecutive annual dividend increases. Yeah, you heard it right. The U.K. has its fair share of dividend aristocrats. The trust calls itself a "dividend hero," which sounds right.

Below, you can see some of its top holdings, which are mostly British behemoths with fat dividend yields. The trust itself yields ~4.31%.

Source: The trust

What makes the trust attractive for me is that its historical dividend approach allows for a safe income haven. It's fair to say that increasing the dividend for 52 consecutive years, has proven that no recession can take down the trust's excellent management team. I believe that the trust offers U.S. (and non-U.S.) investors exposure to a conservative market with elephant-sized companies while taking away the risk of potential dividend cuts, because of its excellent cash reserves and optimal diversification.

Lately, I have been increasingly interested in Asian stocks. While I have had some unfortunate personal experiences with Chinese tech stocks (looking at Baidu (BIDU)), I have also been impressed by the variety of REITs and Trusts, that the Hong Kong and Singapore exchanges provide access to. I believe that many investors undermine the credibility and governance of such trusts, thinking they are inferior to American ones, but this is entirely wrong.

Again Singapore-based stocks, for example, trade at much lower multiples. The P/E ratio of the overall Index is currently just under 14.

I agree that American stocks are the most shareholder-oriented assets an investor can and should own. However, there are some options out there that have outperformed the market while paying significant dividends with annual-increase policies too.

A few of my favorite trusts are those of the Mapletree family:

The trusts own and operate a variety of properties based on their corresponding name. I wrote an extensive article a few months ago regarding the Commercial Trust, which you can read here. Its properties house some of the most respected names like the Bank of America Merrill Lynch HQ.

Source: Business Insider

All four trusts have had a significant capital gains record, yielding from around 3% (the higher growth commercial one) to ~6.3% (the more conservative retail one).

It is important to know that all these trusts have been increasing their dividends annually and are exposed to minimum volatility, mostly because of their significant diversification and the less volatile real estate market. Singapore-based REITs like these are, like the American ones, required to distribute 90% of their rental income back to shareholders. While it is impossible to analyze all four trusts in this article, I believe that my last article on commercial trust is a good starting point if you are interested in the Asian REITs.

Fellow Seeking Alpha writer The Value Pendulum has done a fantastic job with three articles on the trusts which I link below.

Some other REITs that I believe worth checking out and will hopefully cover in the future individually are:

Finally, regarding Europe, there are a few bargains out there, but I really want to highlight Eurocommercial Properties (OTC:EUCMF). The Investment Doctor has covered the REIT extensively. You can find his latest article on it here.

The REIT is special for me for a single reason. It is a dividend aristocrat, despite being a retail mall-focused REIT. Eurocommercial Properties kept increasing its sweet dividend, even through the great recession. Only a handful or less U.S. REITs can boast that feat. Management has over 20 years of experience working together, and that shows on such excellent capital control.

The trust currently yields 9.25%, which is extremely attractive. Investors can take advantage of this opportunity, which has been given as a result of the Mall-apocalypse. Moreover, I consider the Eurocommercial to be a bargain stock since it is trading way below its NAV, as you can see below.

Source: Eurocommercial Properties

I believe that the REIT is an excellent European play with a proven track record of delivering superior income distributions to its unit holders.

Is a recession coming? Nobody knows. I think that the market has more room to run, considering such an excellent economic environment. However, it doesn't hurt to consider additional options apart from U.S. equities. The U.K., Hong-Kong, Singapore, and Europe have some of the most attractive equities to consider right now, that are trading at a reasonable valuation. The stocks mentioned in this article are some fruitful options to consider if you are a retiree or soon-to-retire investor who considers alternative income solutions.

One last thing that all investors deploying funds in foreign equities must remember is the FX risk they are exposing themselves to. I will try to cover more of these stocks individually in the future. Just remember, as much shareholder-friendly as the U.S. is, there are always other options to consider too, during pricey times.

Disclosure: I am/we are long ALL EQUITIES MENTIONED. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Continue reading here:
Hedge Your Retirement Portfolio With International Income Stocks, Whether Or Not A Recession Occurs - Seeking Alpha

This article follows another recent one, Context for the RPD Retirement Portfolio. That article discussed my finances, scaled to those of a retiree needing $100k of income and having $1M of pretax savings. Here, as there, "my" numbers refer to this scaled portfolio.

My secure income is $55k, so I need $45k from the investments. I recently placed 25% of the pretax savings with the investing department at a trusted bank. Those funds are in a standard diverse portfolio of US and international stocks and funds.

My intent is that this pot of money will not be touched for at least 20 years. Eventually, I plan to place barriers to my own access to it, to protect my portfolio from potential cognitive decline, discussed in Define A Strategy For Your Own Cognitive Decline.

My cash and liquidity would cover three years of expenses, if needed. Ultimately, my active-investing funds need to provide a minimum average return of 6% to last 20 years.

More importantly, my goal is to grow these funds to provide both a cushion and more legacy. So, I am seeking a total return substantially above 6%, and ideally much larger.

On an after-tax basis, my scaled, active-investing portfolio has a value of $525k. Here, I describe what I am doing with these funds, and how I came around to those plans.

A few years ago, I began reading widely in the retirement literature, looking toward a retirement portfolio and income plan. For reasons discussed in the prior article, bond investments make little sense for me in particular.

Also discussed was my view that bonds don't make sense for any retiree at present. This followed in part from some modeling of bond ladders and other portfolios with bonds, done before I began writing for Seeking Alpha.

Modeling two-bucket approaches like the one I have taken was my next topic of investigation. My earliest articles on Seeking Alpha discuss models of such approaches.

A two-bucket strategy also later solved my problem of how to handle cognitive decline, and ultimately, this is why I have taken it. My present long-term allocation of 25% to the long-term bucket is on the low side of optimum.

The long-term bucket may turn out to support only a reduced level of spending. Ultimately, I decided to take that risk. My wife and I both favor living as we want to now at the risk of having to cut back later.

It is my deep belief that all investors are ignorant in ways that matter. One can never know enough about a firm and all the factors that affect its future profitability to predict with certainty its future.

This point of view favors relatively broad diversification. Even so, we have discovered on the High Yield Landlord chat that many of our members need to diversify in a way that fits their psychology. Some need few investments they can closely watch. Others need many investments, so a single failure does not cost too much.

There was a period of time where I was thinking hard about approaches to producing 6% to 8% distribution yields, so that my active-investing portfolio would last as long as needed, or longer. If this is the goal, what would work for me psychologically is a very broadly diversified portfolio of about 100 selected investments paying distributions in that average range.

I went this direction beginning in early 2019 with widely distributed preferred-stock investments when they were undervalued and with investments in diverse REIT sectors.

My natural orientation is toward value investing. Invest in securities undervalued by the market and reap the rewards as they are re-evaluated. (See Figure 1.)

An example of the sort of investment I prefer is Spirit Realty Capital (SRC). They were beaten down by the market in response to their complexity. The company shed some problematic assets and during 2019 positioned themselves as a standard net-lease REIT. Yet they were and are valued much less than other similar REITs. I made good money on SRC during 2019 as they gradually appreciated, exited a while for cash flow reasons, and am now back in.

Figure 1. Unlike this economist who believes in efficient markets, value investors will pick up those hundred (or more) dollar bills the market leaves lying around. Source.

Following momentum plays has no appeal at all for me. I don't object to people who do that, but note that they are going head to head with a lot of computers.

Investments that depend heavily on financial engineering, like mortgage REITs and BDCs, also have little appeal. My view of these, among others, is that, whenever the other shoe drops, a lot of investors are going to lose a lot of money.

The challenge for value investors is always to avoid the firms whose price has been driven down because it should be. One, of course, finds many arguments on Seeking Alpha about which ones those are.

Dividend-paying stocks offer a higher yield on cost when undervalued. As one example, the much-discussed Simon Property Group (SPG) has offered a yield near 6% for quite a few months. I believe they are a genuine blue-chip company and am delighted to be able to obtain that yield on cost.

In my case, some of the securities selected, from the opinion that they were undervalued (especially the preferred stocks), returned to more reasonable prices during 2019. My investments overall produced a total return that was a multiple of 6%, despite one big loss and not much gain in the latter few months as I shifted my investing focus.

Both positive and negative factors altered my thinking. One positive factor was my evolving belief that I could find market inefficiencies and profit from them. In doing so, I believe good research is essential and worth paying for.

I learn about and test ideas for REIT investments at Jussi Askola's High Yield Landlord, for which I also write some articles. I also pay for research at Michael Boyd's Energy Income Authority and J. Mintzmyer's Value Investment Edge. Each of these services easily pays for itself.

A second positive factor was the realization that, to me, having an increased cushion and more secure legacy funds does matter and is worth some risk. Achieving this means making investments focused on higher gains.

The negative factor is this. I realized that watching my portfolio decay away as gradual failures (dividend cuts or worse) eat away at its value is not the most comfortable approach for me personally. In thriller movies, I am far more comfortable with the violence that follows than I am with the suspense leading up to it. I'd rather find a high-conviction opportunity for substantial gains and take my losses all at once if my investment thesis fails.

More detailed attention to REITs led me to conclude that mall REIT securities were significantly undervalued. I decided to build a basket of mall REITs. I discuss the motivations for these investments in Retail Apocalypse Not.

I had not thought much about this more active approach until I had dinner with a friend who was passing through town. I started telling him what I was doing and he said "Oh, you are an INVESTOR". The capitalization of INVESTOR was clear in his voice. I thank him for causing me to do some focused thinking.

You need to ask yourself some questions before becoming an INVESTOR.

Do you have the motivation to track your investments in appropriate detail? Can you use clear judgement in deciding whether and when to sell your winners? Will you hang onto losers too long or can you shed them as needed? Investing will bring you crises. What is your track record at handling crises?

This last item may be the most important. Per Warren Buffet

If you can't watch your stock fall by 50% without having a panic attack, then you shouldn't invest in the stock market.

Any financial advisor will tell you stories of the phone calls they get from panicked investors during market declines (Figure 2).

Throughout my life, I have been the calm one during crises. This has served me well for decades, at home and at work. In contrast, my spouse panics and loses emotional control. I've known stellar female investors and leaders who could stay calm amidst turmoil, but she is not among that group. Before you try to imitate what I am about to describe, ask yourself the questions above.

Figure 2. Which one is your brain in a crisis? Source.

Having decided to pursue larger gains by value investing, I can expect loud proclamations that I am an idiot in various investment decisions. I expect to be in the position of Brookfield Asset Management, discussed in this piece on Morningstar, which summarized a Wall Street Journal article. It popped up in our chat room at High Yield Landlord:

"The sentiment is so negative on malls," said Vince Tibone, lead retail analyst at real-estate research firm Green Street Advisors LLC. He said "if you buy a mall and you're wrong, you're probably going to get fired."

Brookfield remains optimistic about a portfolio that ranges from Baltimore's Mondawmin Mall to Portland, Ore.'s high-end Pioneer Place.

In an interview, Brian Kingston, chief executive of Brookfield Property Partners, expressed confidence that the bet will pay off despite recent weakness. "This is part of our strategy in that we're contrarian investors," he said. "This is what it always feels like."

While I did well in 2019, and am hopeful for 2020, it would not surprise me to lose money (on paper) in 2020. Even so, most of the investments will spin off a good bit of dividend income. My hope is for gains within a couple of years, and my expectation is within five.

Figure 3 shows the composition of my active investing portfolio for 2020. I have deep value investments in three baskets: mall REITs, midstream MLPs, and shipping. For each of these areas, I have a written investment thesis, so that I can frequently assess whether it remains valid.

Figure 3. The RPD active-investing portfolio for 2020.

I am a strong believer in selecting baskets of firms within undervalued sectors (Figure 4). The markets often embrace oversimplified narratives and undervalue certain stock sectors as a result. I prefer baskets to individual securities from the perspective discussed above that one cannot avoid being ignorant about important developments for any individual firm.

My baskets reflect the oversimplified narratives of today: Malls are dying from the retail apocalypse. MLPs can't be trusted, depend strongly on oil prices, and will never recover from their recent bear market. Shipping will never be profitable again following its recent extended bear market.

In the case of mall REITs and MLPs, one can get paid well to wait for the market to come to its senses. I anticipate yields of about 10% from both of them. I also anticipate both taking gains and de-risking these baskets when the appreciation occurs.

Shipping, in contrast, is so cyclical that dividends are also strongly cyclical. I have invested in sectors for which I judge the fundamentals to be strong for the next few years, anticipating extraordinary dividends and hoping for gains that let me take some profits.

At present, I am in all the mall REITs, overweight SPG and Macerich (MAC). I am in 12 midstream MLPs, with largest positions in Energy Transfer (ET) and MPLX LP (MPLX). In shipping, I am in 8 stocks, with Euronav (EURN) as my largest position.

Looking ahead, in five years I hope to retain some mall REIT and MLP investments for income but to be finding undervalued baskets elsewhere. Shipping is a wild card. If I am still there, it will likely be in different shipping sectors.

The rest of the portfolio is more mundane. The Dividend Aristocrats are a good choice for long-term appreciation. The other REIT commons are moderately undervalued selections paying moderate dividends.

The crowdfunded real estate loans are intended as an uncorrelated cash generator. I expect to work that sector up toward a 10% allocation in the future, and that it will yield 8% to 9%.

I've run out of room to discuss specific securities further. I would like to share the detailed structure of my mall REIT basket, which has some subtle aspects. I will probably write about that.

Figure 4. Why hold baskets: Which is on average less threatened in a windstorm? Source and source.

If you work through the above material again, you will see that it is chock full of decisions that are specific to my circumstances and my psychology. Understanding the implications of your own psychology must be central as you plan your own portfolio.

I believe that there are strong opportunities today in the undervalued areas of mall REITs, midstream MLPs, and shipping, and also that in each case investing in basket of securities is the most sensible approach. Consider investing in these areas, but before you do, reassess their suitability for your psychology and circumstances.

Also, note that all the percentages above would need to be multiplied by 3/4 to represent their fraction of my total investable funds. They represent an even much smaller fraction of my net worth as implied by my fixed income streams. I hope that absolutely no one will go out and put 60% of their entire net worth into high-risk stocks or baskets in response to this article.

As you put together or reassess your portfolio, bear in mind that different sectors have different stability. The Dividend Aristocrats and Large-cap equity REITs (and some mid-caps) are relatively stable, although always subject to fluctuations with the market. Out-of-favor REIT sectors carry more risk.

Midstream companies (especially MLPs) are a minefield. Many factors matter, from corporate finances to product mix to geography to the overall market. Yet midstream companies are an island of peace compared to what I have seen so far of shipping, where wild cyclicality and massive volatility are normal.

Having shared my motivations and my chosen path, I hope you will find a path that is a good fit for you.

At High Yield Landlord, We spend 1000s of hours and well over $50,000 per year researching the REIT, MLP and other real estate markets for the most profitable investment opportunities and share the results with you at a tiny fraction of the cost.

Take advantage of the 2-week free trial and join our community of >1300 "landlords" before we hike the price!

Disclosure: I am/we are long SRC, SPG, MAC, ET, MPLX, EURN. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Go here to read the rest:
The RPD 2020 Active-Investing Retirement Portfolio - Seeking Alpha

The Hall of Famer will join Eli Manning, who will have his No. 10 retired By Scott Thompson | 10:49AM

During an appearance onThe Tonight Show Starring Jimmy Fallon, Hall of Fame defensive endMichael Strahandropped some news.

The Giants will be retiring his No. 92.

"Yeah, they are," Strahan said when Fallon said he heard the rumor.

This news shouldn't really come as a shock, with Strahan being one of the best players to ever wear a Giants jersey. Still, he admits it's going to be an emotional day.

And he has already handed out one thank you, as he addressed Fallon's band The Roots, who are from Philadelphia...

"It's going to be really emotional and I want to thank The Roots 'cause I know you Eagles fans wrote in and asked them to retire my jersey 'cause you didn't want to see it terrorizing your team no more!" he said jokingly

Strahan's number isn't the only one to be retired, as Giants co-ownerJohn MaraannouncedEli Manning'sNo. 10 will also never be worn again during the quarterback's retirement ceremony last Friday. Strahan spoke on Manning as well, saying he believes all of his accomplishments should see a gold jacket come his way, too.

"He's a great guy and I think he deserves everything that's coming his way: his jersey being retired, hopefully induction into the Pro Football Hall of Fame, two Super Bowls, two Super Bowl MVPs," Strahan said. "The guy is a great friend, man, and I'm happy for Eli to retire the way he wanted to."

Strahan was selected in the second round (40th overall) by the Giants in the 1993 NFL Draft, and that's where would stay over his 15 years in the league. One of the most feared linemen in the history of the game, Strahan was consistently a brutal force to deal with despite teams knowing exactly where he was coming from off the edge.

In 216 career games, Strahan racked up 141.5 sacks, 854 combined tackles, 24 forced fumbles and 131 tackles for loss. His best season came in 2001 where he was named the AP Defensive Player of the Year following a 22.5-sack season with six forced fumbles and 24 tackles for loss. And, of course, he would close his legendary career with a Super Bowl XLII victory over the Patriots.

Strahan and Manning will be the 12th and 13th different numbers to be retired by the Giants. Ward Cuff and Y.A. Tittle share No. 14, whileRay Flaherty(1),Tuffy Leemans(4), Mel Hein(7),Phil Simms(11),Frank Gifford(16),Al Blozis(32),Joe Morrison(40),Charlie Conerly(42),Ken Strong(50), andLawrence Taylor(56) make out the rest of the list.

When both of these numbers will be retired is still unknown, but it is about time the Giants honored one of the best to ever do it in New York.

Ralph Vacchiano | Facebook | Twitter | Archive

The Giants were not happy with Pat Shurmur's coaching staff, especially as the losses mounted in his second season. They had issues with how they struggled to develop young players, according to multiple sources, and they questioned if that staff put the team in the best position to win.

So far, though, there are no such complaints or worries about the coaching staff new head coach Joe Judge has assembled. The early returns are positive from both inside and outside of the organization, both with the quality of his choices and the willingness of the 38-year-old first-time head coach to add experienced voices to his staff.

His full staff hasn't been revealed yet, and only the coordinators have been announced, but multiple sources have confirmed most of the names (The only mystery appears to be the identity of the defensive line coach, which was supposed to be Freddie Roach until he got a promotion to remain at Ole Miss). Judge has dipped deep into his past, bringing coaches he's known from his days in New England, and from as far back as from when he was a graduate assistant at Mississippi State. He also has quite a few who came from the Nick Saban coaching tree.

Read More

As former Cowboys head coach Jason Garrett gets ready for his first season as the Giants offensive coordinator, Hall of Fame quarterback and Fox broadcaster Troy Aikman thinks he will thrive in his new environment.

Aikman, of course, spent his entire 11-year NFL career with the Cowboys, leading them to three Super Bowl titles in the 90s. He talked about the former Cowboys coach during Super Bowl LIV media availability on Tuesday.

"Jason has proved to be a good coach and he keeps in perspective what it was like for him as a player, what he liked and didn't like," Aikman said. "And he's got great personal skills. ...I'd be surprised if he and Daniel Jones don't hit it off right away and develop a real chemistry."

Read More

Michael Strahan, who revealed onThe Tonight Show Starring Jimmy Fallonthat his No. 92 was to be retired by the Giants, knows what his former team needs if they want to get back to the playoffs.

"Can't have a bunch of nice guys and win. It doesn't work. We need to find some dogs," Strahan told The New York Times' David Marchese in a Q&A.

Being a dog on the field was a great way to describe Strahan's nature, being someone who was feared by the entire league on the defensive line. The gold jacket he received in 2014 as a Pro Football Hall of Fame inductee is a pretty good indication of that.

Read More

The Giants started to lay a foundation for the next phase of their franchise in 2019.

The team is now inDaniel Jones' hands, but fellow rookies from last season in wide receiver Darius Slayton and defensive lineman Dexter Lawrence also had strong starts to their respective careers.

Moving into 2020, the Giants will want to put together another strong rookie class to assist those guys, but there's free agency, too. Pro Football Focus said the Giants should swing big and go after Patriots safety Devin McCourty this offseason.

Read More

A familiar face from recent Giants history is joining another with the Denver Broncos, according to a weekend report.

Per 9News in Denver, former Giants offensive coordinator Mike Shula is working out a deal to become the Broncos' quarterbacks coach.

The Broncos already added the Giants' last head coachPat Shurmur to their coaching staff this offseason. Shurmur is now the Broncos' offensive coordinator.

Read More

The Giants have promising quarterback Daniel Jones entering his second season in 2020.

Big Blue hit on at least one of their later picks with wideout Darius Slayton at last year's draft, potentially landing a long-term play-maker for their potential franchise QB.

Is it now time to protect their leader in the pocket?

Read More

While the wins didn't follow, the Giants set a good foundation for the future in 2019.

Highlighted by quarterback Daniel Jones, plenty of rookies were impact players for the G-men last season.

For their efforts, Pro Football Focus tabbed the group the fourth-best rookie class in the NFL.

Read More

With the Eli Manning era officially over for the Giants, everything is now in the hands of quarterback Daniel Jones.

Moving forward, Jones will have at least one go-to option in the coming years in a fellow rookie from 2019 in WRDarius Slayton.

Speaking on the latest happenings with the Giants' quarterback room, the wideout expressed loads of confidence in his QB heading into the offseason.

Read More

It was reported earlier last week that Giants new head coach Joe Judge was bringing on former Browns head coachFreddie Kitchens, but his role was not yet determined. Until now.

Sources confirmed to SNY's Ralph Vacchiano that Kitchens will be coming to New York to be the Giants' new tight ends coach. This is the same position Kitchens held at Mississippi State when Judge was playing out his senior year. When Judge came on as a graduate assistant during the 2005 season, Kitchens transitioned to running backs coach.

For Kitchens, it's a step backward. He worked his way on to the Browns staff two seasons ago as their offensive coordinator, and his group did enough for now-former GMJohn Dorseyto make him the team's head coach last season. But, with a very talented roster, Cleveland failed to make the playoffs after a 6-10 record fell upon Kitchens.

Read More

Joe Judge has reportedly added another piece to his coaching staff, as he is expected to bring Tennessee inside linebackers coach and special teams coordinator Kevin Sherrer to the Giants, according to Patrick Brown of GoVols247.

Brown is reporting that Sherrer will become the new inside linebackers coach in New York.

Judge and Sherrer have been together on a coaching staff in the past, having spent two years together at Alabama under Nick Sabanin 2010 and 2011. Judge served as a special teams assistant for Saban, while Sherrer was the director of player personnel.

Read More

On the same day that Eli Manning retired from the game of football after a 16-year career with the Giants, another star New York quarterback sang some high praises for the two-time Super Bowl champion.

Joe Namath, who played 12 seasons in New York with the Jets and brought the city it's first Super Bowl back in 1969, believes that Manning might just be the best quarterback to ever play here.

"I was pretty good and did some things. Eli, I marveled at. He was remarkable," Namath told The Post Friday morning. "I wouldn't compare myself to Eli. He's done far more than I ever did on the field."

Read More

Former NFL quarterback Archie Manning spoke to SNY's Ralph Vacchiano on Friday after watching his son Eli Manning officially retire from the NFL.

Manning played his entire 16-year career with the Giants, and his father explained why it important for him to retire with the team.

"Well I was proud of Eli, I'm proud of his decision, we think he made the right decision, and I think most people do," Archie Manning said. "I think it's very evident today to see how Eli sincerely means what he says, that it was important to him to retire a New York Giant. So I thought his comments were appropriate and good, and as always, we're very proud of Eli."

Read More

From 1998-2006, Ernie Accorsi oversaw a Giants team that reached Super Bowl XXXV, while also laying the framework for the Giants' Super Bowl XLII and XLVI titles.

And while Accorsi acquired key players like Osi Umenyiora, Justin Tuck, Antonio Pierce, and Plaxico Burress, the biggest move of his tenure as general manager is unquestionably his trade for Eli Manning during the 2004 NFL Draft.

As Manning officially retired from the NFL on Friday, Accorsi was there to celebrate the quarterback's illustrious career.

"First of all, I'm happy he's retiring a Giant. I'm happy he's going out the way he's going out," Accorsi told SNY's Ralph Vacchiano. "He expressed it better than I can. I feel great for him. I always said that I took a lot of heat for that trade and so did he, and it wasn't his fault. I put him in that situation and he had no control over it. I'm glad it worked out."

Read More

Ralph Vacchiano | Facebook | Twitter | Archive

The first impression of Eli Manning was that he wasn't very good at first impressions.

That wasn't just back in 2004, either, when he introduced himself to the NFL by seemingly offending everyone outside of New York because he refused to play for the San Diego Chargers. It wasn't even from his terrible first practices, or his bland first press conferences and what seemed like endless mountains of clichs.

The first time I thought I had a chance to really get to know Eli Manning was in the spring of 2006, at a posh house in North Caldwell, N.J., right across the street from the house The Sopranos used for the mobster, Johnny Sack. Eli and Peyton were there to film a Reebok commercial, the first commercial that would feature the two of them and their father, Archie, together. I somehow got one of the first exclusive interviews with Peyton and Eli together.

Read More

Eli Manning officially announced his retirement on Friday in typical Eli Fashion. He choked up a bit but didn't shed a tear, was matter-of-fact about the end of his career, and thanked everyone who helped him along the way.

"I'll miss hearing the first roar of the crowd, triggering the knowledge that we have been given one more opportunity to go win a football game," Manning said. It's impossible to explain the satisfaction -- actually the joy -- I've experienced being a Giant. From the very first moment, I did it my way. I couldn't be someone other than who I am."

After a retirement speech that was about six minutes long, and finished strong -- "Wellington Mara always said, 'Once a Giant, always a Giant.' But for me, it's only a Giant." -- Manning took questions from reporters on hand. Here are the takeaways...

Read More

The Eli Manning/Hall of Fame debate will rage until he either makes it or doesn't when he hits his first year of eligibility, but one of Manning's former teammates tried to end the debate on Friday.

Speaking after Manning's retirement press conference, Plaxico Burress -- who caught the game-winning touchdown from Manning in the waning moments of Super Bowl XLII when Big Blue took down the undefeated Patriots -- had some thoughts.

Asked about anyone who thought Manning only "might" be a Hall of Famer, Burress was blunt.

Read More

As his retirement ceremony commenced, Eli Manning held a Q&A with the media for the final time, and addressed his possible future with the Giants in a new role.

As John Mara had previously said, the Giants would welcome Manning into the organization in some capacity, and it seems that Manning is interested in the idea of coming back.

"Yeah, it would definitely be something that I'd be interested in," Manning said. "So I'd just have to discuss that and talk to Mr. Mara and see in what way -- and I've got to see in what way."

Read More

Patriots legend Tom Brady joined the ranks of stars to congratulate Eli Manning on his career as he retired from the game after 16 seasons, and the connection between the two is like no other.

Read More

Giants quarterback Eli Manning is retiring from the NFL, and during a press conference Friday discussed his career with Big Blue and what he'll remember most during his time in the league.

Watch his entire speech from the Giants facility, where he was among family, teammates and friends.

Read More

Before introducing Eli Manning on Friday as the legendary Giants quarterback called it a career, co-owner John Mara took what was assumed and made it official.

"No Giant will ever wear number 10 again," Mara said, adding that Manning will also be inducted into the team's Ring of Honor during the 2020 season.

Mara had earlier choked back tears while recounting the final game his father, Wellington, watched before passing away in 2005, when the elder Mara told his son that it looked like the Giants had found their guy with Manning.

Read More

As Eli Manning announces his retirement from the game of football Friday morning, the debate on whether the two-time Super Bowl Champion and Super Bowl MVP deserves to make the Hall of Fame has been a topic of discussion all week.

His brother and fellow quarterback Peyton Manning begs to differ on his odds to make it to Canton.

"To me, it's the time to look back and reflect. Everybody else wants to look ahead and have this debate. And I understand, that's just the world we live in. I know Eli doesn't think like that, and I don't think like that either. But I certainly have my strong feelings and opinions on it," Peyton said. "When you're the Super Bowl MVP twice against the greatest dynasty of all-time, the New England Patriots, Tom Brady/Bill Belichick, and you join a list that includes Terry Bradshaw, Bart Starr, Tom Brady and Joe Montana, Eli Manning as the only (multiple) Super Bowl MVPs.

Read More

Ralph Vacchiano | Facebook | Twitter | Archive

It would be easy to say Eli Manning is one of the greatest players in Giants history, simply because he is. But it's also been a long and storied history for the franchise that includes 21 members of the Pro Football Hall of Fame, 42 members of their own Ring of Honor, and four players named to the NFL's 100th anniversary all-time team.

That makes choosing a Top 5 anything but simple. And Manning's position is debatable, to say the least.

Continued here:
Michael Strahan reveals Giants will retire his No. 92 - SNY.tv

Javier Hernandez has not yet been in Los Angeles a whole week and he is already in the eye of the storm due to a video that he published on his YouTube channel in which he says it is time to start thinking about his retirement.

The 31-year old used the 'R' word when referring to his move to Los Angeles to play with Galaxy in the MLS. What he really meant was that he is at an age when he needs to think about his near future, not that Major League Soccer is a place for players to retire.

Chicharito wanted to clarify that since he is now 31, and following a decade playing in Europe, it was time for a change since he is not getting any younger and all he wants to do is keep playing.

My career as a soccer player is coming to an end, I wonder what would happen if I decided to go back and play in Mexico, that is not a league you go to retire. All I meant in that video is that my career is coming to an end, that could happen in 5 or 10 years, said Galaxys new number 14.

Many years ago I would say yes the MLS is a retirement league, but it has grown so much. This league has improved and in Mexico they do not realize that. I did not come to Galaxy to retire, I came to win and compete. But it is clear that I have a few years left as a soccer player, so everyone should just relax, Chicharito said to former player, Alexi Lalas, during an interview.

See the original post here:
Chicharito: retirement talk because of my age, not the MLS - AS English

Dear Catey:

My wife and I are 58. She will retire at 62 and I at 67. Our annual retirement income at 67 will be approximately $95,000 from Social Security, pensions and investments. We would like to find an affordable, friendly place to rent during the winter months, that is warm and as close as possible to the ocean in the good ole United States of America.

We plan to pay off our home in the Midwest in about six years. Grateful for no other debt. Ideally, the location would also be near stores, in restaurants and walkable. It cannot be on the West Coast. In the coming years, wed like to visit locations to test the waters. Can you help with some recommendations for the future snowbirds?

Thank you,

G.A.

Dear G.A.:

I get a number of letters from aspiring snowbirds, and frankly, escaping the cold months sounds like a plan to me (I write this as Im bundled up in a sweater in chilly New York City and dreaming of a palm tree and umbrella drink).

Of course, there are things to consider like taxes (heres a piece from Money on how snowbirds can avoid a blizzard of taxes), home security, winterizing your home and more (this guide is a good start).

That said, snowbirding is a compelling option. Here are three spots in walkable, pretty affordable beach towns.

St. Augustine, Florida

This city of about 15,000 residents is nestled along the countys 42 miles of pristine beaches and boasts tons of history. You cant walk very far in St. Augustine without being reminded that it is the oldest European-established city in the U.S.one that houses more than 60 historic sites and attractions, including a town square that dates to 1573. The city is still very much alive, however. Pedestrian-only St. George Street, lined with bistros, boutiques and bars, bustles all day and well into the night, with live music coming from practically every other open door, writes Kiplingers of the town, which it calls a smart place to retire.

And Travel & Leisure, which named it one of the seven best places to visit in Florida, notes that: Its a walkable town, imbued with intrigue; whispers of the past swirl through every cobblestoned alley. Kiplingers adds that St. Augustine has everything from golf to belly dancing for retirees as well as plenty of cultural activities, affordable luxury living, and first-class health care.

To be sure, there are cheaper cities to live in Florida the cost of living in St. Augustine is slightly above average for the U.S. but this city has so many perks to recommend it, and with your income you can likely make this work: The median rent for a one-bedroom apartment is $800 and the median two-bedroom is under $1,000, according to Sperlings (though you may pay more in the heart of things) not to mention that Florida is one of the most tax-friendly states in the country for retirees, Kiplingers notes. (Heres a piece on how snowbirds can be taxed as Florida residents.)

Related video: How to retire with $1 million, $2 million or $3 million (provided by CNBC)

UP NEXT

7 things to do this month before filing taxes

While filing taxes is stressful for most, planning ahead can make the process easier. Here are seven things to do in order to be prepared for tax season.

Republican 2017 tax overhaul may be causing exodus

Report on causes of tax exodus

Why tech companies flock to expensive cities

New York Citys "Silicon Alley" is back this time, on the west side of Manhattan. WSJ explains why tech companies tend to cluster in the same neighborhoods.

UP NEXT

Galveston, Texas

Texas, like Florida, has no income tax and is tax-friendly to retirees and Galveston itself has a cost of living thats significantly below average. Its also, at least in parts, reasonably walkable and offers quiet beaches as well as a lively cultural scene, writes Kiplingers, which calls it a great place to retire.

You wont be bored there: Because Galveston attracts a lot of weekend visitors, theres always something going on, writes Kiplingers including annual celebrations like Mardi Gras, the Food and Wine Festival, the Brewmasters Craft Beer Festival, as well as an amusement park, and summertime concerts. Plus, Houston which has excellent health care and plenty more to do is under an hours drive away. Crime is slightly elevated in Galveston, but there are safer neighborhoods.

Its not just a resort town either, writes the New York Times: Galveston (population, 49,000) has more character than most flip-flop playgrounds. Its history, as rich as that of Charleston, S.C., or New Orleans, is evident in the majestic downtown structures and in palm-lined neighborhoods of Victorian homes painted in jelly bean shadesMore recently, an enormous rebuilding effort in the 1980s started a new round of changes. Artists and entrepreneurs are filling downtown lofts and restaurants; these days many visitors come for the manufactured wonders as well as natural ones along the shore.

Tampa, Florida

Tampa landed on Kiplingers list of the best places for early retirement thanks in part to its particularly affordable living costs as well as all the things youd look for in a Florida retirement: white sand beaches, warm blue waters, plenty of golf and generous tax breaks.

You can also find certain neighborhoods that are walkable and plenty of other perks too like a growing food and live music scene, killer lineup of breweries and almost eternally beach and boat-friendly weather, writes Thrillist, which calls the quality of life here appealing.

Tampa (population of about 370,000) and the surrounding area also offer both a laid-back beach lifestyle and the amenities of a large metropolitan area, including professional sports teams, interesting museums and an array of entertainment and dining options, writes U.S. News. However, some complain of the citys growth and sprawl.

View post:
Where to retire on the beach for $95,000 a year - msnNOW