From a Wall Street Journal online article:
“many people are poorly prepared for unexpected expenses” in later life, the study notes. Even worse, about one in five retirees (19%) and one in four retired widows (24%) experienced four or more shocks during retirement. The good news: Many older adults who get hit with stealth expenses appear to bounce back.
• Replacement costs. Big-ticket buys—a new furnace, updated appliances, a fresh coat of house paint—can put sizable dents in your nest egg. But most people don’t consider that these outlays can follow them into later life or that such costs can continue to add up for decades. A contributing factor: Many retirees underestimate their life expectancy.
• Relatives in need. This can hit you from two sides: aging parents feeling a financial pinch and younger family members who suddenly find themselves in a bind. With the latter, perhaps it can be an adult child who gets laid off or divorced, or a grandchild who needs help with tuition.
• Required distributions. Most people know that, after reaching age 70½, they must begin withdrawing funds from tax-deferred accounts (like IRAs). What they fail to understand are the ripple effects from these payouts. Required minimum distributions can, first, push you into a higher tax bracket and, second, translate into increased Medicare Part B premiums (which are tied to annual income).
To read more: https://www.wsj.com/articles/the-expenses-people-often-forget-when-they-plan-for-retirement-11571321423
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Leaving nothing to chance, the Cavners are making a number of modifications they might never need. For instance, neither uses a wheelchair, but contractors are making all doorways 3 feet wide for accessibility throughout — just in case. The master bath roll-in shower, flat and rimless, will provide room to maneuver and the master bath vanity is also at wheelchair-accessible height. Kitchen drawers, rather than cabinets, will allow easy access in a wheelchair. The Cavners are closely watching details of the renovation, but it wasn’t a hard decision.
This year marks the 60th anniversary of Frank Lloyd Wright’s building for the Solomon R. Guggenheim Museum. Since opening its doors on October 21, 1959, the architectural icon has inspired countless visitors and is widely seen as Wright’s masterpiece.
Born in Bologna in 1552, Lavinia Fontana is often considered to be the first professional woman painter; she was the first to be accepted into the Accademia di San Luca in Rome, and supported her family throughout her life by gaining prestigious commissions for portraits in the city. This self-portrait has been interpreted as a wedding painting; it was completed in the year of Fontana’s marriage to Giovan Paolo Zappi, a fellow artist who became her agent and manager.
Sofonisba Anguissola was born into an aristocratic family from Cremona in around 1532; she travelled to Rome as a young woman, where her talent was recognised by Michelangelo, and in 1559 became lady-in-waiting to Elisabeth de Valois, Queen of Spain (and a keen amateur painter). She became a court painter to Philip II, and remained at court for some 15 years – at least until her marriage to a Sicilian nobleman after Elisabeth’s death in 1568, for which Philip II provided the dowry. Here she portrays Anna of Austria, who became Queen of Spain after Philip remarried in 1570.
Part of the Prado’s bicentenary celebrations, this exhibition looks at two of the most significant women artists of the Renaissance. Though born into very different social classes, both Lavinia Fontana and Sofonisba Anguissola rose to heights of prestige that had not previously been scaled by women painters – Fontana at the Vatican, and Anguissola at the Spanish court.
