Baby Boomers

Insurance for Long-Term Care

Kassidy Emmerson — Tue, 08 Jul 2008 17:41:00 GMT

You may be in fairly good health at this stage of your life, but what about in the future? It's estimated that 60 percent of men and women over the age of 65 will need long-term care. Anytime a loved one requires care giving, one or more of their family members usually step in and do the job. But, if you have no one to take on that responsibility, or you choose not to be a burden to your children and grandchildren, then you may need to consider purchasing insurance for long-term care. This type of coverage can help a person, especially one who already has a disability, to provide long-term care for themselves and be able to afford it.

What Kinds of Care Can You Expect to Receive?
The type of care you receive may be from a caregiver at your home. Or you may only be covered for care in a nursing facility. You can also choose a policy that insures both home care and nursing home care. Besides the type of care you'll receive, there are many other factors that will depend on the exact terms of your insurance for long-term care policy. Your policy will have a benefit cap. That means if your caregiver expenses exceed the set limit, you'll need to make up the difference. Your policy will also have a benefit period. This period may be for months, years or the remainder life. All of these factors and more depend on the insurance for long-term care that you choose.

Should You Buy Insurance for Long-Term Care?
Without having a crystal ball to predict our futures and the amount of care giving we may need, it's hard to determine whether we should buy insurance for long-term care. If you wait too long to purchase this type of coverage, finding companies willing to insure you may be difficult, if not impossible. Wait until you're a senior citizen, and any company that would offer you insurance for long-term care would charge you a fortune in premiums.

Even though it sounds like a good deal, especially if you have a disability and are expecting to need a caregiver in the future, insurance for long-term care isn't for everyone. Besides providing you with the care giving you may need, this type of coverage provides you with freedom of choice. You can make your own decisions - up to certain points, depending on the terms of the policy - regarding your long-term care. That way, you don't have to worry about bothering your family with your care. However, insurance for long-term care is meant to help people protect their assets so they don't go broke trying to pay for care. That means, if your incomes are, say, Social Security and maybe a small pension and you have no home or other assets to protect, then obtaining insurance for long-term care doesn't make financial sense for you.

How to Obtain Insurance for Long-Term Care
The best time to start looking for a long-term care policy that will cover your care needs is when you are in your middle age. By then, you'll have a fair idea of what your future looks like, at least in respect to your health, especially if you have a disability. Not only that, but planning ahead will mean that your insurance for long-term care premiums should be more affordable, at least, based on your age. If you are already in poor health, you'll have a hard time finding a company willing to insure you, or the premiums will be expensive.

Finding a Dependable Insurance for Long-Term Care Provider
You can look in the Yellow Pages of your local phone directory to find companies that offer insurance that will pay for care or use the Internet and your favorite search engine. You'll end up with a list, but how do you know these providers are the best ones to choose? The government doesn't regulate long-term care insurance, but some states do. Therefore, to find dependable insurance providers for long-term care, contact your state insurance department. Find out if your certain state has regulations. Also, contact your state agency on aging. You should be able to get free or low-cost counseling on finding insurance for long-term care insurance.

Some Specific Features to Look for in a Policy
The policy you end up buying will depend a lot on the premiums you can afford. Still, you need to look for specific features such as; inflation protection, premiums that remain the same, coverage for Alzheimer and Dementia, a pre-existing condition clause that's no longer than six months, renewal guarantees and the right to cancel an insurance for long-term care policy within 30 days with a complete refund of your money.

Retirement May Be Another Job

Thu, 03 Jul 2008 14:33:00 GMT

It’s 10 p.m.—do you know where your pension benefits are?

The highly-regarded Conference Board (CB) sees 77 million baby boomers headed for retirement with “nearly every facet of corporate pension plans subject to analysis and change.”

This isn’t heart-warming, especially for disabled employees relying on such plans.

CB argues the decline in defined benefit plans and rise in defined contribution plans, plus increasing longevity, augurs “growing risk among employees regarding retirement benefits.” It’s “unclear whether employer programs can support long-term financial security.”

“Legislation, including the Pension Protection Act of 2006, liberalized requirements for defined contribution plans,” CB claims. Still, many experts disagree over whether the new rules for defined benefit plans “will help stabilize the system or encourage more companies to curtail their plans."

Outlive Income?
The Pension Protection Act of 2006 was intended to improve the “pension system and expand opportunities to build retirement nest-eggs.”

The risk is two-fold, CB claims. “No. 1: employees will outlive their retirement income and experience a significant decline in standard of living; No. 2: employees are investing more than they should in equities, due partly to limited options for their defined contributions, inflation, and market volatility.”

The quandary/quagmire isn’t limited to the U.S.

On May 31, 2008, The Star in Toronto quoted Keith Ambachtsheer: “Millions of middle-income Canadians need a new pension plan, or their living standard will fall.” Ambachtsheer is an investment advisor and adjunct professor of finance at the University of Toronto’s Rotman International Centre for Pension Management.

Little Sense
Meanwhile, the Journal of Accountancy noted how “capital markets are much more volatile than they’ve been in years (and) caused some pension plan fiduciaries to rethink their role, including investment strategies.”

On May 21, 2008, The New York Times reported: “By firing its actuarial consultant, the State Legislature shone a light on one of the public sector’s deepest secrets. All across the country, states and local governments are promising benefits to public workers (based on) numbers that make little economic sense.”

Perhaps David Petso sees the future. As a Certified Financial Planner and president/owner of Petso Financial Consultants LLC, in Boise, Idaho, and 25 years-plus in financial planning, he contends Americans must “redefine retirement (because) the system isn’t built for so many retirees. Social Security was (begun) when the average life expectancy was 48; it isn’t equipped to handle this many retirees.”

Destined to Implode
Petso thinks “most should work longer, maybe part-time in a field they enjoy. With increasing age and diminishing numbers of children to replace (funds), our system is destined to implode. Everyone must become more involved in their own savings, investing, and be responsible about their retirement plan.

As for equities, Petso believes retirees “have too little. Fixed investments won’t keep pace with inflation; with long lives people will simply run out.” He sees retirement “vastly different. We as a society can’t afford to support people for 20 years as kids and 40 in retirement. Those that want an adequate retirement need to plan and save for it.”

In his wheelchair in Jacksonville, FL, Herb Drill heads Able Me & Associates. His e-mail address is herbdrill@ableme.com. He has Muscular Dystrophy.

Choosing Restaurants Where You Can Hear Your Companions

Mon, 30 Jun 2008 21:40:00 GMT

Adding customer attractions like big-screen televisions and computers with Internet access have contributed to the louder volume levels of America restaurants in the past few years. The people who dine out because they don't want to eat at home in silence may not mind the din. But other restaurant patrons, especially those who have a hearing loss, or seniors, may find noisy restaurants unnerving. These boisterous eateries are difficult, if not impossible, places to converse with dining companions. If you're looking for restaurants you can visit where you can hear your companions, read this informative article and learn some tips on how to choose wisely!

Tip 1: Steer Clear of Customer-Packed Restaurants
Even though they probably serve some of the best food in town, if you see a restaurant parking lot that's packed full, you can be sure it's plenty noisy inside. Besides not being able to hear, whether you have a hearing loss or not, restaurants like this tend to be difficult to move around in, especially if you have a disability. But, these popular restaurants aren't necessarily off-limits if you're choosing a quiet restaurant. Try visiting them during their "off hours," the usual times when people aren't eating breakfast, lunch and dinner.

Tip 2: Live Entertainment Like Karaoke Equals Clamor
If you want to choose an eatery where you can hear your companions, skip those restaurant choices that advertise having live entertainment or karaoke. The noise levels are bound to be extremely high. This can be a real problem if you're a senior or have a hearing disability.

Tip 3: Look for Restaurants That Play No Background Music
Even if it's played low, background music just adds to the clamor. In really noisy restaurants it can barely be heard above the conversations being held, the racket coming from the kitchen, the clinking and banging of dishes and tableware, and the general hubbub within the restaurant.

Tip 4: Choose a Restaurant That Serves an Older Crowd
The restaurants where seniors regularly congregate are generally quieter. They are usually easier to get around in, too. This is an important factor to consider, especially if you have a disability. If you're looking for a place to dine with companions where you can hear what each other is saying, look for a place that serves mainly seniors.

Tip 5: Look for Carpet Instead of Tile or Wood Flooring
Another consideration to make when you're choosing a restaurant is whether the floors are covered with tile, wood or carpet. It makes a difference because porous materials such as carpet, curtains and padded furniture actually absorb sound. Having these items in a restaurant can help make hearing each other easier and your visit more pleasant.

Tip 6: Find Seats Farthest Away From the Kitchen
Once you choose a restaurant that seems quiet enough that you think you'll be able to hear your companions, look for seats that aren't near the kitchen. Open kitchens are the worst creators of noise, but all of them can make it difficult to hear, especially if you have a hearing loss.

Tip 7: Select Seats That Aren't Near the Bar
The bar is another section of a restaurant that's normally louder than other areas. Once you choose a restaurant where you think you can have a normal conversation without screaming across the table, find seats away from the bar. That way, whether you have a hearing loss or not, you'll have a better chance of finding quietness.

And finally, if you visit a restaurant that's relatively quiet except for loud background music, for example, don't be afraid to ask the server if the noise can be turned down. If you have a hearing loss, explain to him/her that you have a disability. They may honor your request so you can converse with your companions and enjoy your meal.

Avoiding Falls: Fall-Proof Your Home

Mon, 23 Jun 2008 23:57:00 GMT

According to the Centers for Disease Control and Prevention (CDC), more than 33 percent of American adults who are age 65 and older fall every year. While some of these falls caused no injury, others resulted in harm such as sprains, breaks and brain injuries. The elderly are more prone to falling, but anyone can take an unexpected tumble in their home, especially if they have a disability. Read this informative article and learn about avoiding falls and how you can fall-proof your home.

1. Make Your Outside Steps and Walkways Safer
All steps are notorious for causing falls around the home. A good place to start to fall-proof your home is to inspect all your outside steps and walkways. Are they in good repair? Are wooden steps rickety and unsafe? Are concrete or cement steps in good shape, or are they crumbly and unstable? Are there sturdy handrails along each set of the steps to help you navigate them safely? Are your walkways in good shape? Are your walkways and steps kept clear of items and debris like tree limbs and stones?

If you live in an area of the country that experiences cold winters, you need to keep your outside steps and walkways clear. If your health prohibits you from doing so, you need to hire someone to keep these outside areas free and clear from snow and ice.

2. Make Your Inside Steps and Stairways Safer, Too
To fall-proof your home in order to protect your health, the next place to inspect is indoor steps and stairways. Of course you know the importance of keeping these areas clear from items you can trip over. And, safe stairways have sturdy handrails to help you climb up and down, especially if you have a disability.

But, what about the steps and stairways themselves? Are they slippery wooden steps? Are they covered with slick tile or linoleum? To fall-proof your home, you should invest in non-slid strips and apply them to your steps. You may also consider removing carpet from steps and stairways since this material is normally slippery. Especially long, shag carpet that can get tangled-up in your feet.

3. Fall-Proof Your Home: Throw Rugs
Having throw rugs on the floor can be hazardous to your health because they can cause you to slip or trip. The worst offenders are rugs that are placed on slippery tile or linoleum floors. To help fall-proof your home, remove the throw rugs. Or only use rugs that have a non-slip backing.

4. Keep Your Floors Clean and Clear
Another way you can fall-proof your home and help protect your health, is to keep your floors clean and clear. This means, make sure that anytime anything is spilled, it's cleaned up immediately. Even a small puddle of water on a tile floor can cause you to fall. Remove any electrical cords, telephone cords and other possible hazards that run across your floors.

5. Fall-Proof Your Home: Bathrooms
Bathrooms are another place in your home that commonly contains hazards that can make you slip or fall. To help make your bathrooms fall-proof, especially if have a disability, you should place non-skid rubber mats in your bathtubs or showers. Or, if you choose, you can use non-skid safety strips on the floor of your tubs and showers instead, to protect your health.

You should also install--or hire someone to install--grab bars and/or handrails in your bathtubs and shower stalls. To find the safest bars, make sure they are approved by the ADA (American Disabilities Act).

Sources:
http://www.cdc.gov/ncipc/factsheets/adultfalls.htm
http://www.nsc.org/resources/issues/fallstop.aspx
http://www.homesafetycouncil.org/programs/pr_safesteps_w002.aspx

Read more:
For more ways to reduce your risk of falls, see Avoiding Falls: Exercises for Balance.

For tips on modifying your home, see Financing an Accessible Home: How to Remodel and Stay Within Your Budget.

Important Safety Tips for Seniors Living Alone

Mon, 23 Jun 2008 21:09:00 GMT

Many senior citizens are choosing to live alone and care for themselves as they grow in age. Most seniors are quite capable of taking care of themselves; however, it is important that they follow these simple safety tips for their home. Also, if you know a senior that is currently living alone, it may be a good idea to do a quick safety check of their home the next time that you visit.

One mistake that seniors make concerning home safety is putting off fixing a hazard. It is important that if you spot something on the floor or an appliance that needs to be repaired, you take care of the problem right away. If you put off fixing the problem, you or someone else visiting your home may be injured.

Many homeowners have rugs in their homes or runners to cover up floors. It is important that you make sure these runners are always in the proper position. If a runner or floor rug gets moved or has a corner folded up, it becomes a possible tripping hazard.

Electrical cords can pose a threat to injury or even property damage due to a fire. It is important that you never use a damaged extension cord. If you have an extension cord that becomes damaged, do not try to repair it yourself. Using a self-repaired extension cord is extremely dangerous. Most department stores carry extension cords for around $5; therefore, it is a wise investment. Extension cords also can still conduct electricity even if the appliance is turned off, you should always unplug the cord when it is not being used.

It is extremely important that seniors remember to keep all cords and appliances away from water. If by some chance, you have a kitchen or bathroom appliance that does fall into the water do not retrieve it, especially if it is still plugged in. When in doubt, you can call your local fire department for advice or assistance. If your appliance is damaged from the water, do not use it again. You can have it professional repaired or even purchase a brand new item.

Smoke alarms are one of the most important safety tips that seniors need to remember and be aware of. Most home already have smoke detectors installed; however, the problem is often making sure that they are in working order. Smoke alarms should be installed in the kitchen, bedrooms, stairways, or any long hallways.

If you have a larger home, it is advised that you scatter smoke alarms throughout the house, to ensure that you will be notified if a fire breaks out. You should regularly check your smoke alarms to make sure that they still work. Many seniors may be unable to climb to the alarm; however, most alarms can be tested by using a broom handle to press the test button. If you are unable to reach the alarm or do not feel safe by using another object to reach up, ask a friend or relative to check the alarm for you.

All stairways should be kept clear and clean. It really does not matter if a stairway is in or outside of your home, each should be well lit and free of clutter. During the wintertime, all stairs located outside should be properly cared for. If you are unable to spread ice melt or shovel the snow, you may wish to ask if there are any neighborhood children interested in doing this for you.

When you are cooking in the kitchen, it is important that you never leave your food unattended. Although it may seem like a quick minute, that can allow for food to boil over or for grease to cause a fire. It is important that seniors do not start cooking when they are tired. If you do cook, it is a good idea to set a kitchen timer to remind you to shut off the oven.

Leaving your items in the oven can cause potential fire or smoke damage to your home. When you take your meals out of the oven or remove pans from the stove, it is important that you wear oven mitts, this will most likely prevent you from being burned.

Many individuals think that using an electric space heater or oven to heat their home will help them save money. If you are senior who is doing this, or you know someone who does, it is important that you help them understand this is a serious risk. There are times when a space heat may need to be used; however, you should use it with caution.

For example, last year my grandmother's water pipes froze in her home. To unfreeze the pipes, they had to set up various space heaters where they thought the froze occurred. If you are using a heater, it is important that all clothing, bedding, rugs, and furniture are kept way from the heater.

The bathroom is a common place where many senior citizens become injured. It is important that you make sure your bathroom is properly set up. If you are unable to safe guard your bathroom with repairs, you need to ask a family member to do it for you.

Garb bars are bars that are installed into the wall or other fixtures to help an elderly or disabled individual to use the facilities. Many grab bars are located in the shower or around the toilet. There are many nonskid bathroom mats that could be placed on the bathtub or shower floor, to help prevent falls.

This list is important for all seniors living alone in a home or apartment complex. Even if you or your relative is living in a home for senior citizens, it is still important that you check their residence for safety concerns. At many apartment complexes for seniors, the facility will perform inspections; however, it is not always guaranteed that all safety concerns will be addressed.

Being in your "golden years" and still be able to care for yourself is a huge accomplishment and you and your family should be proud. You have taken good care of yourself up till now, it is important your home is safe to keep you living healthy.

Avoiding Falls: Exercises for Balance

Mon, 23 Jun 2008 18:22:00 GMT

As we age, whether we have a disability or not, our balance becomes less stable. Because of this natural occurrence in our health, we fall down easier and more often. Falls often lead to injuries such as sprains, breaks and head injuries that require health care. Some falls are even fatal. Read this instructive article and learn about some exercises for balance that will help you in avoiding falls.

Note: Before you perform any of these exercises, if you have a disability, or an extreme problem with keeping your balance, consult your healthcare professional first. If you're unsure about your balance, and how good or bad it may be, ask someone to stand beside you so you don't fall.

1. Forward Leg Lift
To perform this exercise and improve your balance, stand behind a chair or place your hand on a wall for support. Then, lift your left leg up and out straight a little ways off the floor. Hold this position for five seconds. Lower your leg and repeat the lift and hold; do this exercise at least five times. Repeat these steps with your right leg.

2. Simple Exercise for Vertigo
Having an episode of vertigo, which is dizziness, can easily affect your balance and cause you to fall. An exercise that can improve your balance and your health, is this: Stand on a flat, level surface with your arms at your sides. Stand in that position for 30 seconds. Another advantage of this simple exercise is, you can perform it even if you have a disability, as long as you can stand up for half a minute at a time.

3. Plantar Flexion Exercise
Performing exercises that improve your balance and lessen your chances to fall have yet another advantage: they'll also help give you self-confidence. This exercise will help strengthen the muscles in your toes and feet. First, stand behind a straight-back chair. Place one hand on the back of the chair for balance. Then, slowly raise yourself up on your tiptoes, as high as you can without falling. Hold this position for the count of one, then slowly lower your feet to the floor. Repeat these moves eight to 15 times, rest and repeat.

If you can perform the Plantar Flexion exercise with little or no difficulty, try holding the chair back with only one finger. Or, use no hands or fingers if you can! If your balance is pretty steady, you can also close your eyes while you do this exercise.

4. Using Spare Time to Gain Balance
Whenever you find yourself with extra time on your hands, like when you're waiting in the doctor's office, or you're standing in line at the grocery store, try doing these exercises. Not only will they help make the time go quicker, but they'll help improve your balance and reduce your risk of falling:

a. Stand up straight and slowly walk by placing your feet heel-to-toes.
b. Stand up straight and balance on one foot, and then the other.
c. From a sitting position, stand up straight without using your hands for support.

5. The Knee Lift
Another exercise that can improve your balance and help you avoid falls is the knee lift. This can be especially helpful if you have a disability that has affected or weakened your knee joints. To perform this exercise, use a chair or other solid object to steady your balance. Then, lift your left knee up as high as you can (as high as your hip, if possible). Hold this pose to the count of three, then slowly lower your leg. Repeat these moves several times before you switch legs.

Sources:
http://www.nia.nih.gov/HealthInformation/Publications/ExerciseGuide/chapter04b.htm
http://ohioline.osu.edu/ss-fact/0170.html
http://www.cigna.ca/healthinfo/ug1239.html#ug1241

Maintaining Independence When You Live Away From Your Kids

Tue, 03 Jun 2008 20:16:00 GMT

If you choose not to move near your kids as you age, there are steps you can take to ensure that you keep your independence, despite your disability. Besides keeping your freedom, you'll need to alleviate any fears they may have of you living so far away.

1. Set Up a Support Network
It's normal for people to watch out for aging seniors, especially ones that are alone, as well as their neighbors who have a disability. This is especially true in small communities where everybody knows everyone. This informal "Neighborhood Watch" can help ensure that you're safe and sound. In order to hold onto your independence, you'll also need to set up a support network that will cover your needs.

For example, you may need someone to mow your lawn every week, get you groceries, do odd jobs around your home, etc. Where can you find people to help? You can ask neighborhood kids about doing your yard work for pay. Check with family, friends and neighbors about doing your grocery shopping, as well as helping out with your other needs. You can also place a "Help Wanted" ad in the local newspaper, or on the bulletin board of your church. Don't forget to check at any clubs or organizations that you belong to find people who can make up your Support Network so you can keep your independence.

2. Set Up Daily Communications With Your Kids
No matter how busy your kids may be with their daily lives, keeping communication with you on a regular basis will help ensure your safety. It will also help alleviate their fears about you aging, having a disability, living alone, and not living close to them.

Setting up daily communications with your kids can be as simple as them calling you at a certain time. Or, you can call them to check-in every day. If, by chance, your kids don't get an answer when they call, or you don't call them, they should have a list of neighbors they can contact to look in on you.

Besides enabling you to hold onto your independence, maintaining daily communications with your kids will give you and them a chance to share daily happenings.

3. Set Up An Emergency Response Plan
Part of aging and having a disability is having an emergency response plan set up whenever you need assistance. The help you need may be medically related. Or, it may be needing the services of the local fire department, for example. Besides providing you care in case of a matter of life and death, having an emergency plan will help give your kids who don't live near you peace of mind.

Setting up such a plan can be as easy as subscribing to one of the many companies who provide aging persons, or people with disabilities, wireless devices that have call buttons. These devices are usually worn around your neck during your waking hours. That way, you have constant access to emergency personnel in case you need it.

Having a cell phone you can use to easily call for help with the push of one button is also a good idea for aging people, or for anyone with a disability.

4. Set Up a Long-Distance Financial Arrangement
If you choose not to move closer to your kids, you'll need to set up a long-distance financial arrangement with them in regards to your money. Because you're aging or have a disability, you may not be always be able to pay your bills and handle your affairs. For these occasions, you'll need to set up a long-distance financial arrangement. That way, your kids will be able to access your money and use it to pay your expenses.

The best way to decide how this arrangement will work, is to talk to your banker, as well as to your attorney. Tell them what you need to do, and ask about the available options. You may need to add your kids onto your checking account, for example. Or, you may choose to give your kids a Power of Attorney so they can handle your affairs any time you're unable to.

Long Term Care: Facing the Inevitable

Mon, 02 Jun 2008 16:09:00 GMT

Long Term Care is not something any self respecting baby boomer wants to think about. We’re a fiercely independent lot, and the idea of having someone else provide daily care is repulsive to us. But it’s reality. At some point, most of us are going to need help getting through the normal course of a day, regardless of whether or not we have a disability.

About 60 percent of people over age 65 will require at least some type of long-term care during their lifetime. Most long-term care is provided by family and friends, but you also may need to obtain such care services from an unrelated individual, community organization, agency, or residential facility.

Factors that influence your risk of needing long-term care services include:
• Age – As you get older, your risk generally increases.
• Marital Status – Single people are more likely to need care from a paid provider.
• Gender – Women are more likely than men to need long-term care, primarily because they tend to live longer.
• Lifestyle – Poor diet and exercise habits can increase your risk.
• Health and Family History – A family history of poor health may increase your risk.
• Having a disability, such as spinal cord injury, can increase your risk

Prices for long-term care services will vary according to the type of service you need, how often and how long you need it, and what part of the country you live in.

The average U. S. costs for various types of care are:
• $5,566 a month for a semi-private room in a nursing home
• $6,266 a month for a private room in a nursing home
• $2,968 a month for care in an assisted living unit
• $19 per hour for a home health aide.

These costs can add up quickly. For example, if you have a home health aide assist you with bathing three times a week, you’ll pay, on average, $19 per hour (possibly with a three-hour minimum) or $57 x three days = $171 a week. This would amount to nearly $9,000 a year.

So now the question becomes: Who’s going to pay for this care? There are a variety of options to consider:

Medicare, does not pay for most long term care, but will pay part of the cost for skilled nursing and rehabilitative services in a skilled nursing home (up to 100 days) following a recent related stay in a hospital.

Medicaid, a federal and state funded program run by states, helps certain low-income individuals and families pay for some or all of their medical bills. Medicaid may help pay for nursing home care and sometimes services at home.

All states fund programs and services to help people needing support to live independently. Certain programs are available in all states, but some programs can be unique to a state or a local community.

Veteran’s Affairs (VA) provides long-term care for service-related disabilities or for certain eligible veterans. Find out more about VA services in your area online or call the VA at 1-800-827-1000.

Voluntary and Faith-based Organizations provide support to people living with severe illnesses and chronic conditions. Two good places to start your search are National Health Council and Faith in Action.

Long-term Care Insurance is specifically designed to cover the costs of long-term care services. Depending on the policy, long-term care insurance may pay for care in nursing homes, assisted living facilities, and/or at home.

Personal saving and investments is how most people who are not on Medicaid pay for long-term care services. The U.S. government developed a long-term care savings calculator to give you an idea of how much you should be saving monthly to cover the costs.

Reverse Mortgages are a way for people to tap into the equity in their homes to pay for their long-term care needs or other items. A reverse mortgage is a loan against your home that you do not have to pay back for as long as you live in your home. These loans can have high costs and be complicated

Continuing Care Retirement Communities (CCRC), sometimes called life care communities, are residential facilities designed to meet the changing needs of older people on one campus. Residents can move from one housing choice to another as their needs change. Find out more about CCRCs.

Life Insurance, Annuities and Trusts can sometimes be used to help pay for long-term care. These financial products can be rather complex. It is important to have a thorough understanding of the benefits and risks. Contact a certified financial planner for help.

To find out more about Long Term Care, visit:
http://www.longtermcareliving.com/financial/pay/howtopay2.cfm
http://www.longtermcare.gov/LTC/Main_Site/index.aspx
http://www.aarp.org/families/caregiving/caring_help/what_does_long_term_care_cost.html

Study Finds Improved Cognitive Health among Older Americans

Wed, 21 May 2008 16:43:00 GMT

Are older Americans staying smarter? According to a new study supported by the National Institutes of Health (NIH) comparing the cognitive health of older people in 1993 and 2002, rates of cognitive impairment among older Americans are, in fact, on the decline. Higher levels of education were associated with better cognitive health.

Researchers said the findings will need to be explored further to see if they can be observed in other studies and to pinpoint factors influencing cognition, or the ability to think, learn, and remember. "These data suggest that we may be experiencing a shift in the cognitive health of older Americans," said Richard J. Hodes, M.D., director of the NIA. "Continuing to track trends will be critically important both for chronicling changes in brain health and for achieving a better understanding of factors that may play a role."

The report appears in Feb. 20, 2008, issue of Alzheimer's & Dementia. The National Institute on Aging (NIA), part of the National Institutes of Health (NIH), and Harvard University, funded the study conducted by Kenneth M. Langa, M.D., Ph.D., and colleagues at the University of Michigan, University of Pennsylvania, and Group Health Cooperative of Puget Sound in Seattle. The National Institute of Mental Health (NIMH), also part of NIH, provided additional support.

The data come from the NIA-supported Health and Retirement Study (HRS), a national, longitudinal examination of health, retirement and economic conditions of more than 20,000 men and women over 50. Researchers tested memory and judgment of a large subset of HRS participants to determine cognitive status in two groups of people, those age 70 and older in 1993 and in 2002. The scientists then followed each group for two years to track death rates. They also looked at levels of education, income, and other factors in each group, finding that the 2002 participants were wealthier and had significantly higher levels of education, with 17 percent college-educated compared to 13 percent in 1993.

Study Findings

• Cognitive impairment dropped from 12.2 percent in 1993 to 8.7 percent in 2002 among people 70 and older.

• Cognitive impairment was associated with a significantly higher risk of death in both cohorts.

• Education and financial status appeared overall to protect against developing cognitive impairment.

• Once older people with higher levels of education reached a threshold of moderate to severe cognitive impairment, they had an increased risk of death over the next 2 years compared to those with lower levels of education.

"Although the trend of improving cognitive health is consistent with chronic disability reductions since 1984 in those aged 65 and older, replication in other studies is essential," said Richard Suzman, Ph.D., director of NIA's Social and Behavioral Research Program, which oversees the HRS. "I'd like to see further analysis of how education, exercise, medications, cardiovascular health and lifestyle affect cognitive functioning."

The researchers suspect that improved treatment for stroke, heart disease, and vascular conditions from 1993 to 2002 might have been factors in the improvement. Further, they suggested, the results support the notion of cognitive reserve, which hypothesizes that the brains of more educated people may be better able to sustain greater damage from Alzheimer's disease or other pathology before clinical signs of impairment appear.

In the study, the rate of cognitive impairment among people with higher levels of education was reduced, for both cohorts. The higher level of education, on average, in the 2002 cohort may be one important factor in the lower rate of cognitive impairment in 2002 compared to 1993.

The NIA leads the federal government effort conducting and supporting research on the biomedical and social and behavioral aspects of aging and the problems of older people, including Alzheimer's disease and age-related cognitive decline. For information on dementia and aging, see the NIA's Alzheimer's Disease Education and Referral (ADEAR) Center at www.nia.nih.gov/alzheimers, or call 1-800-438-4380. For more general information on research and aging, go to www.nia.nih.gov.

Staying Fit After 50: What To Do and Where To Go

Fri, 16 May 2008 18:55:00 GMT

On my refrigerator is a quote that says, “We don’t stop playing because we grow old, we grow old because we stop playing.” I don’t know who said it, but it’s perfect to me, because it throws daggers into the heart of an old way of thinking and living. Perhaps due to a spinal cord injury and substantial loss of physical ability at the age of 22, I have a philosophy that is basically “the older I get, the harder I’m going to work to keep what I have.”

There’s a lot of research out there that documents the benefits of exercise in reducing and even reversing the effects of aging. For example, a 1996 Tufts University study pointed out the value of intensive strength training for seniors. In the study, people into their late 90s trained at the same level of intensity as younger people. “Level of intensity” is defined as doing repetitive lifts at 70 to 80 percent of the maximum amount of weight you can lift. The result? No one got hurt . . . they got stronger.

But for many people who haven’t been active, the challenge is getting started. Fitness experts say the secret is finding something you enjoy doing, and then sticking with it. For me, it’s bicycling in the summer, and cross country skiing in the winter—anything to get me outdoors. To supplement my endurance activities, I also work out with weights and work on core strength, flexibility, and balance in a fitness facility.

How do you find a fitness facility that’s suitable for those of us 50 and over? The good news is that as we baby boomers age, there are fitness centers popping up around the country aimed at serving older clients.

One such place is called Nifty after Fifty; it’s a California based company focused on meeting the needs of the growing 50-plus population. They offer services tailored to an older clientele, with smooth air-pressure driven machines instead of weights, and recumbent total body steppers that are easier on the joints. Their fitness “coaches” have advanced degrees in kinesiology and specialized training in the fitness needs of mature adults. Another is Healthfit, a Needham, Massachusetts, fitness club where paintings adorn the walls and the average age of the clientele is over 50.

Club 50 is a fitness chain with 47 locations across the U.S., including Hawaii. It caters to the 50-plus crowd with a program that combines cardio, strength training, and nutrition in a 30-minute workout that also includes a diet and nutritional program. The club uses hydraulic resistance equipment that accommodates a wide range of abilities and fitness levels.

The International Council on Aging website includes a checklist of things to look for in choosing a fitness club and trainer that are “age-friendly.” They even have a facility locator to help find age-friendly clubs in your area. Check it out at http://www.icaa.cc/consumer/age-friendlyguides.htm. The bottom line: there are a growing number of fitness opportunities out there for us baby-boomers. So get out there and act your age.

Babyboomer Travel Trends

Tue, 13 May 2008 15:58:00 GMT

Rhonda and Lee live an exciting lifestyle. Lee "retired" two years ago and despite the fact that Rhonda has a disabling arthritic condition, they spend way more time traveling than at home just looking at the wall and aging.

Lee and Rhonda are members of the baby boomer set, you know, those folks born right after World War II until about 1964. The baby boomers are an inordinately large group who, as they age, are changing the face of America. Nowhere is this truer than in the travel industry. Further, modern medicine is helping more people live longer as well as helping more people with disabilities take part in all aspects of life, such as accessible travel.

A major fact brought about by baby boomers is that they don't consider travel a luxury; they see travel as a necessity. Even with a disability, baby boomers don't consider themselves "seniors" until they are well into their 70s. They don't hope for accessible travel; they expect it. What this means is that people like Lee and Rhonda aren't comfortable associating with their parents. Group travel packages combining the two generations aren't going to be acceptable. An emphasis on education is a better approach for the travel industry to take in order to woo the baby boomers.

As it turns out, baby boomers are a demanding group, but the businesses that cater to them will do well because the baby boomers have a lot of discretionary income and will spend it for creature comforts because they feel they are worth it - and they are!

Baby boomers see themselves as forever young. Baby boomers want to have fun. Baby boomers want immediate gratification and part of the reason for this is that they try to do too much. Baby boomers put no constraints on where they go for travel.

Whether you are a baby boomer of a baby boomer with a disability, the travel industry is going to become more and more responsive to your needs large and small.

The baby boomers account for 25 percent of the population. However, perhaps you have a disability and think that your options are, or are going to be, limited. The facts say otherwise: you have clout!

Baby boomers with disabilities are a large part of a group that is 55 million strong in the United States and 500 million strong worldwide. Of the 55 million in the states, a survey from 2004 reported that they had a collective income of $200 billion, they took 32 million trips and spent more than $13.6 billion while traveling. Obviously these numbers cannot be ignored by the travel industry.

The trends for the future couldn't look brighter for the baby boomers with disabilities.

First, businesses have begun to get over their irrational fears of providing accessibility. They have found that it adds rather takes away from the environment and it's not just about profit.

Businesses are beginning to provide "intermediate" services such as greeters to help people "settle in" to a location.

Now and in the future, not only will people with disabilities be more prominently made part of the routine clientele, but those with incidental travel needs such as oxygen and walkers will find themselves with needed services and accommodations readily available.

In addition to other reasons for befriending the population of individuals with disabilities, consider the fact that they are extremely loyal and tend to return to those places where they have had a good past experience.

As you age and approach the time when you intend to increase your travel schedule, you are going to find that you can go where you want, when you want and how you want. You will be able to find any desired level of service and expect the options for you to only increase.

Extending Independence with Age and Disabilities

Mon, 12 May 2008 20:30:00 GMT

There are a lot of concerns that people have as they deal with the byproducts of aging. One of the top concerns is how to remain independent even when disability and health issues develop. Fortunately, there is a lot that you can do to extend your independence.

Exercise Your Body
The first step that you can take to extend your independence is to focus on your fitness. To maintain your health and to prevent systemic diseases commonly associated with aging you need to exercise regularly. Research has shown that for older adults to optimize the benefits from their exercise routine they need to engage in vigorous exercise at least three times a week and at least 20 minutes per session. If you are not in top physical condition right now, then start out with low-impact exercises and work your way up to more challenging routines.

Exercise Your Mind
In addition to exercising your body, you also need to exercise your mind if you want to extend your independence. You have a lot of options when it comes to exercising your mind. Simple mind exercises like completing word jumbles, crossword puzzles and other newspaper games are great for keep your mind nimble. If you are interested in more challenging mind exercises consider learning a new language or taking a class at your local adult learning center, community college or university. Keeping your mind active will lower your risk for developing dementia and Alzheimer's disease.

Pay Attention to Your Diet
Your ability to remain independent relies heavily on your overall health. One of the best ways to keep your body in good health is to eat a well balanced diet that is high in dietary fiber, low in sugar, low in fat and low in salt. Eating whole foods, fresh fruits and vegetables and limiting the amount of processed foods will help you keep your body healthy and provide you with more years of independence.

Remain Social
The final step in extending your independence is to remain social. Remaining social will keep your mind and body active, and it will also help to keep you emotionally stable. You can remain social by volunteering, keeping a part-time job and by joining clubs and organizations.

Extending Your Independence
Independence is not something that is a given. In fact, if you don't take steps to preserve your independence now you will most likely need some sort of assistance later in your life. Fortunately, you can extend your independence by making small lifestyle changes like adding physical exercise to your routine, playing thinking games, eating healthier and remaining social.

Playing with the Grandkids: Ageless Activities

Mon, 12 May 2008 20:10:00 GMT

There have been several studies conducted that have shown how beneficial it is to remain active throughout your life. Staying active while aging helps to not only keep your body healthy, but it also helps to keep your mind and emotional state healthy. One fun and easy way to stay active is to play with your grandchildren.

Active Activities
The type of activities that you do with your grandkids is going to depend a lot on your current fitness level. If you are still active and able to participate in more physical activities then consider: hiking, biking, playing ball games, swimming and playing tag. The more of these activities you do now, the longer you will stay healthy and active. If you are working on your fitness level, then you can work your way up to modified versions of these fun activities.

Moderately Active Activities
Grandparents who are still moderately active, but have a disability, mobility, strength or endurance issues to contend with, don't have to sit things out. They can try modified versions of the above active activities, or they can try some lower key activities. Some moderately active activities that grandparents can do with their grandchildren include bowling, miniature golf, fishing and Wii games.

Sit Down Activities
Older grandparents, or grandparents with health concerns, can also have fun with their grandkids. Just shift the focus on activities that are less physical. Board games, arts and crafts, telling stories and reading stories are all activities that grandparents can do with their grandkids. These activities will keep all of your minds active, which will not only help you to reduce your risk for neurological disorders like dementia and Alzheimer's disease, but it will bring you all together as a family.

Making Modifications
As mentioned above, you can modify some of the more physical activities listed above so that you can participate in them even with a disability. Simple modifications include things like playing on a surface that is easy for a wheelchair to navigate over, lowering the volleyball net or using adaptive equipment. Modifications can also be made to the game, such as using a larger ball, using a beach ball and reducing the amount of time or points needed for a round.

Quality Time
No matter what your physical condition is you can have fun with your grandkids. Most grandkids are just thrilled that you are spending time with them. If you can't be out in the field playing baseball with them, go to one of their school or team games. Cheering them on and offering your support are both great ways to have fun with your grandkids.

Playing With the Grandkids
Staying mentally and physically active is going to provide you with many extra years of good health and viability. Playing with your grandkids is one way that you can stay active. This option not only strengthens your mind and body, but it also strengthens your relationship with your grandkids.

Special Discount Programs for Seniors

Mon, 12 May 2008 19:56:00 GMT

Senior citizens make up a very important segment of the economy. Because of this, many companies and government agencies have developed special discount programs for seniors to make life more affordable and enjoyable. With a little paperwork, aging can lead to senior discounts, complementary passes good for reduced service charges, free entry and significant discounts on consumer goods.

Local and State Government Programs
The first place that senior citizens can turn to for special discount programs is their local and state governments. Seniors that have small incomes or permanent disabilities in particular, can qualify for discount cards that are good for everything from groceries to gas. To qualify for these special discount programs applicants generally need to meet income limits and have a disability.

Discount Programs for Utilities
One of the most difficult things for some seniors to afford is their utility bills, especially with the rising cost of crude oil. Fortunately, saving money on utilities is possible because many utility companies offer a senior citizen discount. Again income restrictions will apply and interested seniors will need to complete paperwork and be approved before they receive the discount.

Cell Phone Discounts
Having a cellular phone is a convenience that many seniors would like to have, however, the high cost of carrying a cell phone makes it impossible for some seniors to afford. Fortunately many cell phone service providers offer special senior citizen cell phone plans at a reduced price. These plans are less expensive because they don't come with all the bells and whistles of regular service plans, but they are much more affordable.

AMTRAK
AMTRAK offers senior citizen discount plans. First of all seniors are offered a 15-percent discount on most adult rail fairs. This discount is applied only to a regular fair, sleeper cars are not covered by the discount. The second senior citizen discount offered by AMTRAK is a 10-percent discount on the North American Rail Pass. This pass is a great option for seniors who like to travel a lot.

The National Parks System
Seniors who are interested in visiting the nation's many national parks will be happy to learn that the NPS offers several senior citizens discount passes. Many of the Federal Recreational Land Passes are offered to senior citizens at a 50-percent discount. These passes can be used to gain access to national parks and recreation sites. The second pass offered to senior citizens by the NPS is the America the Beautiful - National Parks and Federal Recreation Lands Pass. This pass is given to seniors free of charge; however, they will need to apply for the pass in person at a national park or recreation area.

AARP
Senior Citizens who don't want to mess around with filling out a lot of paperwork and joining numerous discount programs can join AARP instead. This membership program will grant them access to a network of discount programs that will provide them with discounts on health care, travel and merchandise. For example, AARP members receive a 10-percent discount at Borders, a 10-percent discount at most hotels and significant discounts on cruises.

Saving for Retirement at 50 and Beyond

Mon, 05 May 2008 19:09:00 GMT

So you’re approaching the half-century mark, and the not-so-distant mirage of retirement appears on your horizon. Is it real, or is it just that—a mirage that will fade as you get closer? A lot depends upon how much money you’ve been able to sock away during your working years.

If you’re like many Americans, you may not be anywhere close to having enough to hang it up when you reach retirement age. According to the Employee Benefit Research Institute, among those who consistently saved money in 401 (k) plans between 1999 and 2006, balances averaged $121,202.

Now, are you ready for the reality check? For every $1,000 a month that you want to collect in retirement, you'll need to have put aside about $200,000, invested conservatively to get a 5-6 percent rate of return. So if you want to have an income of $72,000 a year ($6,000 a month), you should have about $1 million to $1.5 million saved in your retirement account. This does not include any anticipated benefits from Social Security.

But do you really need that much? A lot depends upon how you answer questions like: What does retirement mean to you? Do you want to work? Where do you want to live? How do you want to spend your time? What do you think you will be spending your money on? You may be able to get by on less than that, depending on your lifestyle. Regardless, if you’re approaching 50, how should you be saving for retirement to maximize your nest egg?

According to Forbes magazine, there are a few things you should do right away.

Switch on the Turbocharger
If the calendar doesn't focus the mind, your eyes aren't open. If you haven't started saving and investing for retirement, it's time to get busy. You probably won't be able to retire at 65, but with careful planning and shrewd investments, you can call it a career in your 70s.

Check the Actuarial Tables
The average life span is increasing. What was a sufficient retirement plan in the past may not cover the additional years many are expected to live in the future. This means setting aside more money now.

Be Realistic
A late start limits your options. Focus on what can be done. Be realistic. Don't expect too much. If you've been investing for years, check your portfolio and think what you can do with what you've set aside.

Get An Adviser
If you're late to the game, meet with an adviser ASAP who specializes in retirement planning. Don't panic. Make a plan. Set aside as much money as possible. If you don't develop a plan and stick to it, you'll have to develop a taste for dog food and ketchup in retirement.

Stay the Course
If you've been investing for years, review your plan and make needed adjustments. Now may be the time to start moving into less risky investments, such as bonds and maybe some real estate. The closer you come to retirement, the more conservative your investments should become.

Some say you should have at least 70 percent of your income in retirement. Sounds reasonable, if you can live comfortably on 30 percent less. If you can't or simply don't want to cut way back, get busy on rustling up additional money for retirement.

The important thing is that you pay attention to what’s going on with your retirement planning now. Otherwise that dream of retirement may indeed be a fading mirage.

For additional information about saving for retirement at any age, visit these Web sites:

Social Security Administration:
http://www.socialsecurity.gov/planners/calculators.htm

AARP:
http://www.aarp.org/money/retirement/

Forbes:
http://www.forbes.com/2004/09/28/cx_sr_0928retirement.html