Keli Rising

	As a follow up with the article outlining the 

, here are the highlights from TopRetirements.com’s yearly list outlining the 10 worst states for retirees to live. 

	TopRetirements.com ranked the states based on evaluating five criteria: fiscal health; property taxes; income taxes; cost of living; and climate. In 2012, three new states made the list, three surprising states were removed from the list (Ohio, Nevada and California) and a new state took over as the number one worst state to retire. 

TopRetirements.com found there to be a virtual tie between Connecticut and Illinois (ranked number one in 2011), but as Connecticut has higher property and income taxes and cost of living, it won in a tie-breaker. In fact, residents paid the third highest amount in taxes nationwide in 2009. Of course the price of gas also plays a factor in the cost of living, even though the “Nutmeg State does have considerable charm and some terrific places to live…if you can afford to live there,” said John Brady, president of TopRetirements.com.

Thanks to its economic troubles due to poor pension funding, deficit spending, unemployment and foreclosure rates, Illinois is not fairing too well, yet it relinquished the number one ranking as the worst state to retire; income taxes were raised in 2011 to begin addressing the economic issues. Although the state “does not tax most pension or social security, other earnings and investment income are taxed at a fairly high rate” with its 5% flat tax rate.

	With its underfunded pension and health liabilities, budget deficits, and fifth highest median property taxes nationwide, retirees “would face much higher income taxes here than they would in most other states.” Although Rhode Island an expensive place to live, many people enjoy living along the coastline.

Typically known for its excellent skiing opportunities, Vermont actually has “very high median property and income taxes,” including a top 10 cost of living.” Retirees who intend to spend the day playing golf or being in a warm climate all year round might not find Vermont to be an ideal location.

— When considering whether Massachusetts is the right place to retire, it is important to consider the high cost of living and property taxes. Yes, social security is tax exempt, but should a retired person decide to go back to work, income taxes are high thanks to “the flat rate applied to other earnings.”

	The median property tax in New Jersey is $6,579 — the highest in the country. Add on having the highest tax burden according to the Tax Foundation, its budget deficit issues, and cost of living, N.J. might not seem as an appealing location. The benefit of living in N.J. is that couples making less than $100,000 do not have to worry about taxes on pension and social security income; not to mention there are some really nice beaches in the state.

	It is just flat out cold. Why would anyone want to retiree to Minnesota when there is Florida or Arizona? Not to mention, Minnesota has the fourth highest income tax rate in the US and has a budget deficit issue.

	Having the fourth highest median property taxes in the country, plus a high tax burden, New York made this year’s list (again). However, thanks to its social security and pension exemptions and high standard deduction, New Yorkers “do not earn any negative points for income taxes.”

Although Maine has a low cost of living, compared to New York, Maine’s income tax is $1,000 higher. In order to help decrease the income tax Gov. Paul LePage “has vowed to try to exempt retirement income from taxation.”

	With a high foreclosure rate and very high property taxes, TopRetirement concluded that Wisconsin belonged on this list. Not all hope is lost as social security is exempt from income tax and there is a high standard deduction.

What states are you surprised to see on this list? What states do you think belong on this list?

Articles

After considering cost of living, property taxes, income taxes, climate, and fiscal health, TopRetirements.com released its list outlining the 10 worst states for retirees to live in 2012.

10 Worst States to Retire in 2012

Global Fund To Fight AIDS, Tuberculosis and Malaria

Bill and Melinda Gates Foundation donated $750 million

, in addition to the $650 million donated over the last 10 years. The focus of Global Fund, based in Geneva, Switzerland, is to “dramatically increase resources to fight three of the world’s most devastating diseases, and to direct those resources to areas of greatest need.”

Celebrating its 10th anniversary last week at the World Economic Forum in Davos, Switzerland, Gates announced the Foundation’s $750 million promissory note; Japan also reconfirmed its $800 million pledge. “By supporting the Global Fund, we can help to change the fortunes of the poorest countries in the world,” 

. “I can’t think of more important work.”

Even after considering the state of the world’s economy and disclosure of misuse of funds, the Global Fund projected receiving 

 between 2011-2012, which includes a “$4 billion pledge from the U.S. government—the largest contributor to the Global Fund;” $2.1 billion has been approved by Congress for 2011-2012.

“For the first time, the number of people failing ill with tuberculosis each year is declining. And malaria has been cut by more than half in 43 countries, 

said United Nations Secretary-General Ban Ki-moon

. “The Global Fund has contributed to internal efforts to scale up prevention. And it has helped create a world where nearly seven million people lived longer, healthier lives thanks to antiretroviral treatment for HIV.”

www.theglobalfund.org/en/about/donors/individual

Just days after Saudi Arabia donated $25 million to the Global Fund To Fight AIDS, Tuberculosis and Malaria, the Bill and Melinda Gates Foundation donated $750 million, in addition to the $650 million donated over the last 10 years.

$750 Million Donated by the Bill and Melinda Gates Foundation to Fight Global Health Issues

Do you fall into the category of not reading the fine print? Think about the number of times you clicked “I accept” when terms and conditions appear when downloading software to your computer; probably very few of you will sit and read the information. Why?

There was a great article by Missy Sulivan posted to SmartMoney.com outlining seven reasons as to why people tend to avoid reading the fine print on various labels, contracts, etc. The text is so small and long that it’s not even worth the hassle. In fact, a 

 found that “61% of consumers reported that they didn’t read all the terms of contracts before agreeing to them.” New York-based attorney James Denlea said, “Laid edge to edge, they’re impossible to stay on top of. It would be a full-time job.” 

Experts in vision, typography, printing, and consumer psychology shared some of the reasons as to why people avoid reading fine print:

Some people have enough trouble reading in general, but to have important information in 8 point Times New Roman font makes it even more difficult. Upon evaluating the results from a study conducted by the Vision Performance Institute of Pacific University, “Picayune print caused participants more discomfort than heavy doses of both glare and flickering light.” Chris Chase, professor of optometry at Western University of Health Sciences says, “Fine print on a contract is probably the worst-case scenario for people… Man, you’re screwed.”

How much white space do you see on this article page? Now think about the amount of white space on a contract or prescription drug label. What do you get? Almost no white space. Plus, some fine print items do not even have line breaks; the text goes on and on. This type of text “forces readers’ eyes to work extra hard to stay focused, defying basic graphic-design rules of readability,” said Alex W. White, author of The Elements of Graphic Design. “It’s the visual equivalent of radio static, a drone that goes on and on.”

Phone books and stock tables are designed using small font “to be maximally legible for space-constrained documents.” Bill Davis, marketing manager for Monotype Imagine which licenses mouse type-friendly fonts says, “Legibility problems often boil down to band font selection.”

With the increase in sending direct mail pieces through email, printing on paper is costing companies more money. Guy Stanzione, worked for the legal and financial printing firm Merrill, said that “he sees more fund companies striving to save bucks on paper and mail-related costs,” and do so by using smaller font on smaller paper. Stanzione says, “We have clients who feel that white space is an unnecessary evil.”

There is a difference between how text appears when reading on a computer screen or mobile device versus reading on paper, which can lead to a number of problems. Steve Matteson, veteran type designer, said that problem arise when “a company chooses a screen font as much for corporate branding as for legibility.” There are certain fonts like Helvetica and Calibri that when viewing on a screen, it is hard to determine the difference between a capital “I” and lower-case “l.” This is especially true when reading PDFs on a computer.

Print disclaimers are not the only things people tune out; TV disclaimers are just as hard to pay attention to. When a commercial promoting a pharmaceutical drug is ending, there is a professional who speaks about the adverse events very quickly that sometimes it is hard to pick out. It has to make people question as to why this is done: Is it because they do not have enough time to say it slowly? or Are they trying to hide something?

Have you ever signed a contract after a salesperson tells you that certain language is standard in any contract associated with buying a car or house? Next time, make sure you spend the time to read the information no matter how hard it might be to actually see the text. “Experts say that sales folk trying to get us to sign on the bottom line often exploit common social and psychological behaviors to distract from a contract’s less-than-favorable terms.”

Days after this article was posted on SmartMoney.com, information about the free book-creation tool, 

 developed by Apple was released. It appears that the iBooks Author’s fine print states that people are not allowed to sell any books they create outside Apple’s store. This essentially says that “Apple has indirect ownership of your iBooks” and would “ensure that Apple received its 30 percent of the cut for every e-book title made with iBooks Author.” Situations like this must make people wonder what they might have agreed to avoid reading the fine print.

We're interested in learning if you avoid reading the fine print on contracts outlining terms and conditions. If you do, why?

 on SmartMoney.com written by Missy Sulivan.

Do you fall into the category of not reading the fine print? Think about the number of times you clicked "I accept" when terms and conditions appear when downloading software to your computer without reading the information.

Paying Attention to Fine Print

Yesterday the American Hospital Association (AHA) announced that 83,000 hospital-based jobs are at risk should Congress enact H.R. 3630, already passed in the House, which would lead to “nearly $20 billion in Medicare cuts to funding for hospital care.” This is just the start of additional Medicare cuts and job loss over the next 10 years to an industry that added 89,000 jobs in 2011; 9,800 jobs just in December, 

according to the Bureau of Labor Statistics

 released by the AHA and economic research firm Tripp Umbach earlier this month paints a dreary picture. By 2021, there could be as many as 278,000 hospital-based jobs lost thanks to the approximately $64.1 billion in Medicare cuts: 

Image Source - Tripp Umbach Job Loss Calculator Report

 — Calls for $41 billion of new cuts starting in 2013.

Already been passed and signed into law, the BCA includes a provision which requires “a 2 percent cut to Medicare payments to all providers in each of the next 9 years.”

 — Calls for $19.9 billion if signed into law.

There are three provisions in this bill which would cut hospital care payments: 

1) From 2013 to 2015, Medicare reimbursement will be reduced to “hospitals for providing assistance to low-income Medicare beneficiaries.” — 

2) Payment cuts for “evaluation and management services provided in hospital outpatient departments to the rates paid in physician offices.” — 

3) Subject hospital outpatient departments to “per beneficiary caps on the use of outpatient therapy services.” — 

"Cuts in funding for hospital care will threaten jobs at a time when our nation needs to be creating jobs, not eliminating them," said AHA President and CEO Rich Umbdenstock. "H.R. 3630 would lead to further job losses in hospitals, an ill-advised move in these tough economic times."

Hospital Jobs by State and Congressional District

Medicare Cuts Could Slash 278K Hospital Jobs, Warns AHA

Yesterday the American Hospital Association announced that 83,000 hospital-based jobs are at risk should Congress enact H.R. 3630 which would lead to $19.9 billion in Medicare cuts.