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‘Tis the Season to Ski
Tweet Share on Facebook December 15, 2008 CommentWinter is the most wonderful time of the year for skiers. Retirees are increasingly taking up the sport for fun and exercise. Baby boomers age 55 to 64 currently make up 9 percent of all skiers and riders, up from 5 percent during the 1997 ski season, according to the trade group the National Ski Areas Association (NSAA). “The average age of our customer continues to get older,” says NSAA president Michael Berry. “We are surprised by how long people are staying in the sport.” Age 65 and older skiers also increased from 2 percent of all skiiers in 1997 to 4 percent this year.
If you can handle the cold weather and a little shoveling, a ski town can be a great place to retire. U.S. News recently named 10 towns winter sports enthusiasts might enjoy. We also got some ski tips from an instructor in Aspen who specializes in teaching baby boomers to ski bumps. But, especially important this year, are these 6 ways for retirees to score discounts in ski towns.
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Ski Town Deals for Retirees: Restaurants and Entertainment
Tweet Share on Facebook December 15, 2008 CommentGrocery stores and movie theaters sometimes have discounts for seniors, although they are often restricted to certain dates or times. Local newspapers will have coupons or run advertisements about current special promotions. Ask locals where to go for free appetizers or drink specials. And even if no discount is promoted, asking is worth a try.
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Ski Town Deals for Retirees: Other Winter Sports
Tweet Share on Facebook December 15, 2008 CommentSenior discounts aren't limited to the ski resort. "You'll typically find discounts on other activities that are seasonable to that area as well, like snowmobiling, ice skating, or cross-country skiing," says David Smidt, president of SeniorDiscounts.com.
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Ski Town Deals for Retirees: Package Deals
Tweet Share on Facebook December 15, 2008 CommentFamily passes, group rates, or deals on combining lessons, rentals, and lodging are numerous and confusing. Get out your calculator and spend a few minutes comparing options online to find out which rate is really the most economical for you.
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Ski Town Deals for Retirees: Ski Gear
Tweet Share on Facebook December 15, 2008 CommentThe price of skis, boots, and insulated jackets can quickly bust any budget. Seniors over age 65 get a 10 percent discount at the national chain Modell's Sporting Goods when they ask and show ID. It could pay off to inquire about a discount at the local ski shop, too.
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Ski Town Deals for Retirees: Season Passes
Tweet Share on Facebook December 15, 2008 CommentIf you're planning to ski for more than a few days, long-term passes are usually the way to go. An unlimited adult pass with no blackout dates can cost as much as $1,450 at Park City Mountain Resort in Utah. But retirees can get discounts on these, too. Passes for seniors age 65 to 69 are going for $575 this year, and at age 70, they drop to just $295 for the full season.
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Ski Town Deals for Retirees: Lift Tickets
Tweet Share on Facebook December 15, 2008 CommentMany ski resorts discount lift tickets for senior citizens. The price reductions tend to get better as you age. A one-day lift pass at Whiteface Mountain near Lake Placid, N.Y., is $60 for a senior age 65 to 69 on a nonholiday, $14 off the full adult price. But once seniors hit age 70, lift tickets are free.
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Credit Card Rewards in Your Retirement Account
Tweet Share on Facebook December 12, 2008 Comment (3)Savvy consumers who never carry a balance on their credit cards have been known to make a little extra cash by using rewards credit cards with no annual fee. A new credit card offers to deposit those rewards into your retirement account.
Fidelity Investments launched a retirement rewards credit card this week. Investors earn two points for each dollar spent on purchases. Once a cardholder reaches a minimum of 5,000 points ($2,500 in purchases), they can be automatically deposited as a $50 contribution into the user’s Fidelity traditional IRA, Roth IRA, or SEP IRA account. If IRA contributions are already maxed out for the year, points can be saved up for next year. Points can also be redeemed as cash in other Fidelity accounts.
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Composer Elliott Carter is 100
Tweet Share on Facebook December 12, 2008 Comment (4)Classical music composer Elliott Carter turned 100 years old yesterday. He celebrated by attending a concert at Carnegie Hall that included a piece he composed, Interventions. The New York Times reports:
“Mr. Carter wrote the 17-minute piece, for piano and orchestra, just last year, at 98. In fact, since he turned 90, Mr. Carter has poured out more than 40 published works, an extraordinary burst of creativity at a stage when most people would be making peace with mortality.”
Carter continues to compose every day in his Greenwich Village apartment, where he has lived since 1945.
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What Happened to Lehman Brothers Employee Pensions?
Tweet Share on Facebook December 12, 2008 Comment (10)Lehman Brothers, a New York-based financial services firm, filed for the largest Chapter 11 bankruptcy protection in U.S. history in September. The capital markets and investment banking operations were then sold to Barclays Capital Inc. for $1.75 billion.
More than 26,500 Lehman workers and retirees are eligible for some form of retirement benefits. The U.S. Pension Benefit Guaranty Corp. (PBGC), a government agency that insures private-sector pension plans and pays out benefits if the a plan fails, initiated action to end Lehman's pension plan today because the plan stands to be abandoned following the liquidation of the firm's assets at a Dec. 22 bankruptcy court hearing.
