Understanding Senior Independence

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By Nurse Diane

From a teacher who asked her third grade to write how they spent their spring break holiday. One child wrote about visiting his Grandparents at their Retirement Home.

"We always used to spend the holidays with Grandma and Grandpa. They used to live here in a big brick house, but Grandpa got retarded and they moved to Arizona. Now they live in a place with a lot of other retarded people.

"They live in a tin box and have rocks painted green to look like grass. They ride around on big tricycles and wear name tags because they don't know who they are anymore.

"They go to a building called a wrecked center, but they must have got it fixed, because it is all right now.

"They play games and do exercises there, but they don't do them very well. There is a swimming pool too, but they just jump up and down in it with their hats on. I guess they don't know how to swim.

"At their gate, there is a doll house with a little old man sitting in it. He watches all day so nobody can escape. Sometimes they sneak out. Then they go cruising in their golf carts.

"My Grandma used to bake cookies and stuff, but I guess she forgot how.

"Nobody there cooks, they just eat out. And they eat the same thing every night: 'Early Birds Dinners'.

"Some of the people can't get past the man in the doll house to go out. So, the ones who do get out bring food back to the wrecked center and call it pot luck.

"My Grandma says Grandpa worked all his life to earn his retardment and says I should work hard so I can be retarded someday too. When I earn my retardment, I want to be the man in the doll house.

"Then I will let people out so they can visit their grandchildren."

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This is National Senior Independence Month.  Senior Adults are living longer, and staying healthier.  Many adult children who have lost a parent have concerns about the remaining parent being alone, and being able to take care of themselves.  However there are many things that can ease their fears about living alone.

1.    They can check on them regularly, or call daily,

2.    Help with grocery shopping or contact Meals on Wheels if necessary.

3.    Keep check on medications, making sure they know when to take them and what they are being prescribed for.  Make sure they are able to open the bottles too.

4.    Make the home safe from falls or fires by removing throw rugs and checking to make sure electrical outlets aren't overloaded.

5.    Make sure there is plenty of space to move around the room freely without bumping into furniture.

6.    Make sure there are proper locks on doors and windows.

7.    Obtain a service to contact emergency assistance at the push of a button.

8.    Install handles in the bathroom

9.    Make sure there is proper lighting and working bulbs.  Have a flash light handy for when electricity goes out.

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Adults want to keep their independence for as long as possible.  My family has been fortunate, they have all been able to stay home during their lives, and have been able to take care of themselves with little assistance.  With a few precautionary measures, the senior adults in your life should be able to function at home without any difficulty, if they have no serious medical conditions that would prevent that.  Senior adults deserve our time, assistance and patience as well as our respect.   If you have any seniors in your life who are living independently, take some time this month to check on them and make sure they have the things they need to make their lives more comfortable.

Fix our Deficit and Congress

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I recently received an email with some of the below information included.  After checking with Snoops.com to verify the quote by Warren Buffett – thought it was worthwhile sharing on this Blog.

Please let us know what you think.  Thanks

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Warren Buffett said during on July 7, 2011 in interview with CNBC’s Becky Quick:

“I could end the deficit in 5 minutes.  You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election”. (Verified at Snoops.com

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The 28^th Amendment concept has been around since at least 2009 and has had more than one name – though recently it has been the Congressional Reform Act (2010, 2011, 2012 and probably 2013).  I support this concept and believe it is long overdue and probably the first or second step in cleaning up the mess that has been created during the past several decades.

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Congressional Reform Act (AKA 28^th Amendment, etc.)

1. No Tenure / No Pension.

A Congressman/woman collects a salary while in office and receives no pay when they're out of office.

2. Congress (past, present & future) participates in Social Security.

All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people. It may not be used for any other purpose.

3. Congress can purchase their own retirement plan, just as all Americans do.

4. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.

5. Congress loses their current health care system and participates in the same health care system as the American people.

6. Congress must equally abide by all laws they impose on the American people.

7. All contracts with past and present Congressmen/women are void effective upon signing of the bill. The American people did not make this contract with Congressmen/women.

Congress made all these contracts for themselves. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work.

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If each person contacts a minimum of twenty people then it will only take three days for most people (in the U.S.) to receive the message. Don't you think it's time?

THIS IS HOW YOU FIX CONGRESS!

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National Save for Retirement Week

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By Terry Orr

Did you know that to live comfortably during retirement you will need from 80 percent to 100 percent of your pre-retirement income?

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Your defined benefit or defined contribution plan and Social Security are a foundation. But you will need savings to fulfill your retirement dreams.

The U.S. Congress thinks it's so important that Americans reflect on their personal retirement goals - and determine if they're on target to reach those goals - that the lawmakers designate one week in October to focus on the issues.

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Goals for National Save for Retirement Week:

• Make employees more aware of how critical it is to save now for their financial future;
• Promote the benefits of getting started saving for retirement today; and
• Encourage employees to take full advantage of their employer-sponsored plans by increasing their contributions.

Saving is The Key

• Nest eggs require many years to build;
• People are living longer: retirement can now last 20 – 30 years;
• Many employers will provide a match for your retirement contribution to help motivate you to contribute; and
• Saver’s Credit. For those with limited income, saving can be especially hard. The government has a special Saver’s Credit just for those individuals. If you are eligible, you can actually receive some of your contribution money back when you file your tax return.

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How much should you save? – Here are guidelines provided by the National Association of Government Defined Contribution Administrators (NAGDCA):

• In your 20’s, save 7% of you salary;
• In your 30’s, save 10% of your salary;
• In your 40’s, save 15% of your salary; and
• In your 50’s, save 20% of your salary.

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References and Links:

• http://www.pentegra.com/media/26560/investstrategy_nationalsave.pdf
• http://www.nlc.org/media-center/news-search/national-save-for-retirement-week-a-time-to-focus-on-saving
• http://www.iamagazine.com/NewsViews/2012/October_18/Big-I-Retirement.aspx
• https://www.metlife.com/retirement-plan-edge/issues/2012-Q3/save-for-retirement-week.html
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Financial Planning

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By Terry Orr

Of all the important skill sets to have – this is one that I yet to master – one that should have been mastered long before completing high school – and should be required for all kids going to school.  We all need to understand the importance of financial planning – for our immediate, mid and long-term.

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“If you can, you will quickly find that the greatest rate of return you will earn is on your own personal spending. Being a smart shopper is the first step to getting rich.” - Mark Cuban

Ric Edelman
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Ric Edelman is the chairman and CEO of Edelman Financial Services, LLC -  the author of several personal finance books and the host of a syndicated weekly personal finance talk radio show called The Ric Edelman Show.  Ric is extremely popular here in the nation’s capital and most medium to large companies sponsor him to help their employees financial planning.  A very good friend of mine has read all of his books and took to heart the advice Ric provided – would have been helpful if I had followed in my friends footsteps.  The first book of Ric’s I read was “The New Rules of Money” - 88 Strategies for Financial Success Today; and the next two I plan on getting are – “The Lies About Money” and “Rescue Your Money”.

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“Only buy something that you’d be perfectly happy to hold if the market shut down for ten years.” - Warren Buffett

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A very good friend of mine told me - that early in his Air Force career, he got some excellent advice on financial management.  With each promotion and or pay raise – put half of that into your long term savings; but half of the remaining into your short term savings and the remainder for you. Now that is pretty simple and straight forward and makes a lot of sense.

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“Experience taught me a few things.  One is to listen to your gut, no matter how good something sounds on paper.  The second is that you’re generally better off sticking with what you know.  And the third is that sometimes your best investments are the ones you don’t make.”  Donald Trump

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One of our daughter’s parents came up with a smart financial plan for their children by establishing CDs and savings accounts for things like – their education; autos and insurance; and the like.  So when they were ready to purchase their car, then withdrew the funds from their CD and made monthly car payments into the auto CD.

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Long before laptop, tablets, smartphones were everywhere – many of us used the back of a napkin to do our planning.  This process helped us understand the concept and identify key factors which were later typed and distributed.

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So here is my advice - do your research, gather your ideas, sketch out rough plan on what you are hoping to achieve.  Then find yourself a good professional financial adviser.  Develop your plan, begin executing it and make sure you review and update you plan frequently and the situation warrants. Good luck.

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References and Links:

http://www.ricedelman.com/

http://financialplan.about.com/

http://www.fpanet.org/

"The mint makes it first, it is up to you to make it last." - Evan Esar

Long Term Care Planning Month

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By Nurse Diane

Cruise Ship VS Nursing Home

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About 2 years ago my wife and I were on a cruise through the western Mediterranean aboard a Princess liner. At dinner we noticed an elderly lady sitting alone along the rail of the grand stairway in the main dining room. I also noticed that all the staff, ships officers, waiters, busboys, etc., all seemed very familiar with this lady.

I asked our waiter who the lady was, expecting to be told that she owned the line, but he said he only knew that she had been on board for the last four cruises, back to back.

As we left the dining room one evening I caught her eye and stopped to say hello. We chatted and I said, "I understand you've been on this ship for the last four cruises".

She replied, "Yes, that's true."

I stated, "I don't understand" and she replied, without a pause, “It’s cheaper than a nursing home".

So, there will be no nursing home in my future. When I get old and feeble, I am going to get on a Princess Cruise Ship. The average cost for a nursing home is $200 per day. I have checked on reservations at Princess and I can get a long term discount and senior discount price of $135 per day. That leaves $65 a day for:

• Gratuities which will only be $10 per day.
• I will have as many as 10 meals a day if I can waddle to the restaurant, or I can have room service (which means I can have breakfast in bed every day of the week).
• Princess has as many as three swimming pools, a workout room, free washers and dryers, and shows every night.
• They have free toothpaste and razors, and free soap and shampoo.
• They will even treat you like a customer, not a patient.
• An extra $5 worth of tips will have the entire staff scrambling to help you.
• I will get to meet new people every 7 or 14 days.
• TV broken? Light bulb needs changing? Need to have the mattress replaced? No Problem! They will fix everything and apologize for your inconvenience.
• Clean sheets and towels every day, and you don't even have to ask for them.
• If you fall in the nursing home and break a hip you are on Medicare; if you fall and break a hip on the Princess ship they will upgrade you to a suite for the rest of your life.

Now hold on for the best!

• Do you want to see South America, the Panama Canal, Tahiti, Australia, New Zealand, Asia, or name where you want to go?
• Princess will have a ship ready to go.
• So don't look for me in a nursing home, just call shore to ship.
• PS. And don't forget, when you die, they just dump you over the side at no charge.

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 October is Long Term Care Planning Month. Planning for long term care is one of the most important things you or your loved one can do. Statistics show that six out of ten people will need long term care, and often times when a crisis happens, it’s too late to plan for it. Loved ones can be left wondering what kinds of options are available, how they will finance it, and what the person receiving care would prefer.  This type of insurance is sometimes provided through your employers or can be purchased through your insurance agent.  You don't want to wait until there is an illness or accident that will require care sooner than you are ready.

Last year my son's father-in-law was in a small fender bender.  He was 70 years old and had been in excellent health.  This accident cause injury to his shoulder, and he was hospitalized for a brief time.  During this time it was discovered that he had Parkinson's disease as well as early stages of Alzheimer’s.  His family was looking at a long time of long term care, however unfortunately he passed away after suffering heart problems.  

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If you haven't considered long term care planning for your life, now is a good time to discuss your options with your insurance agent or check in with the cruise ship lines. (Joking about the ship…well…maybe)

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