Insurance & Investments for Seniors
Seniors Urged to Consider Free Tax Software from
Free File Alliance as Deadline Nears
Taxpayers with earnings of $57,000 or less can
visit IRS.gov for free software for preparing, filing tax return
April 8, 2013 – With Americans experiencing the
shortest tax season on record, the
Free File Alliance, a
nonprofit coalition of industry-leading tax software companies partnered
with the IRS, today reminded taxpayers that free, brand-name tax
software is available at
the IRS website.
Read more...
Opining of a Cranky Old Man
Retiree
Welcomes the Pope to the World of Retirement with Suggested To-Do List
The Pope is too pooped to Pope but may join AARP - the
Almighty Alliance of Retired Popes
By Bill Kalmar, Retiree
March
4, 2013 - Those of us who are retired, or those approaching retirement,
have probably prepared a list of “to dos”. Retirement is a time to
enjoy all those activities that we have dreamed about but did not have
time to experience. Perhaps it is a personal “bucket list” of things to
be accomplished as we move into the twilight years of our life.
Whatever the case, it is a time for new adventures.
Read more...
Social Security News
Lack of Social Security Awareness Could Be Costing
Retirees Thousands of Dollars
Half collecting or planning to collect benefit before
full retirement age; more than half not knowledgeable about maximizing
benefits; 83% concerned about program
Oct. 31, 2012 – Many older retired Americans do not
understand key issues surrounding Social Security, says the BMO
Retirement Institute. Consequently, they are losing out on a significant
amount of money that could be used to fund their retirement.
Read
more...
Often Unnoticed In Nursing Home Papers Is
Arbitration Agreement You May Not Want to Sign
Anxious seniors or their caregivers often sign every
document that's put in front of them, perhaps only glancing at the
content
By Michelle Andrews
Sept. 18, 2012 - When Paul Ormond signed John
Mitchell into a nursing home in Dennis, Mass., in June, he was handed a
few dozen pages of admission papers. Ormond, Mitchell's legal guardian
and an old friend, signed wherever the director of admissions told him
to.
Read more...
Insurance & Investments for Seniors
Putting The 'Care' Into Long-Term Care Insurance - Some States Taking Action
Some
insurance companies are slow to pay and have been known to deny payments
completely
By Kristian
Foden-Vencil, Oregon Public Broadcasting
Oct. 17, 2012 - Long-term care insurance is the financial
equivalent of doing push-ups -- it's good for you, but not too much fun. As a
result, not many people buy long-term care insurance, which pays for care when
they get too old or sick to take care of their basic needs like cooking or
bathing.
Read more...
Features for Senior Citizens
AARP’s New ‘Work Reimagined’ to Help Older Workers Find Jobs
Online program linked with professional job site, Linkedin
Aug. 1, 2012 – A new online effort to connect older workers with employers seeking
these experienced workers was announced
today by AARP. Work Reimagined will work in coordination with the professional networking site, LinkedIn, to emphasize assistance for older
professional seeking a new or more satisfying job opportunity. Read more...
Boomers - USAToday
Working
Until 70 Could Ease Retirement Finances for Boomers
By Susan Tompor, USAToday
July 25, 2012 - Many Baby
Boomers head to work each day and wonder, "So what's the number?" How many more years do they need to keep working? It turns out that if many of
us could just keep working until age 70, we could be OK in retirement, according to a new study.
Read more at USAToday
Senior Citizen Homes & Communities
How to Pay for Assisted Living? New Guide Offered Free to Seniors and
Caregivers
Stratford Retirement is making the new guide free to help people make informed decisions about the costs of senior living
facilities
June
26, 2012 - Caregivers and the elderly searching for assisted living facilities in the United States now have a
new resource to help guide them through the maze of payment options associated with care facilities.
Read more...
Retirement News
Top Life Advice from Today's Retirees to Tomorrow's: Start Saving ASAP!
‘Not having enough money’ is the biggest surprise for retirees; retirement different than expected, 'shocked' by financial
surprises
June
7, 2012 - If America's retirees were in younger people's shoes, it's clear that they would put a priority on saving more and saving
early for retirement. In a recent survey of older Americans, 39 percent said saving for the future was the most important piece of advice they
would give younger people. Read more...
Couples Retiring in 2012 Need $240,000 for Medical Bills, $20,000 More if Obamacare Overturned: Fidelity
Senior citizens relying on Social Security to pay medical bills will have only 39% of payment left for other expenses
May 10, 2012 - A 65-year-old senior couple retiring this year is estimated to need $240,000 to cover medical expenses
throughout retirement, according to the latest retiree health care costs estimate calculated by Fidelity Investments. And, if the health care
reform bill – “Obamacare” – is overturned by the Supreme Court, seniors can add another $20,000 to their costs, according to a report by
Bloomberg.com. Read more...
Many Older Americans Postponed Retirement After Great Recession
People who decided to postpone retirement also expect to leave less for their heirs, study finds
May 2, 2012 - New research on the retirement plans of a nationally representative sample of Americans age 50 and older
shows that 40 percent of older Americans postponed retirement in the wake of the Great Recession.
Read more...
Social Security News
AARP Free Webinar to Explain Social Security Impact on Income Taxes
To teach the basics about how Social Security can impact individual income taxes
Feb. 29, 2012 - With the April 17 tax filing deadline just around the corner, AARP is providing tips for seniors looking
to protect their financial assets through better retirement planning. It will provide a free online webinar focusing on how Social Security
can impact your income tax bill. Read more...
Insurance & Investments for Seniors
Private Health Insurance Plans Must Eliminate Technical, Confusing Wording
Senior citizens may see help in plans for Medicare Advantage, prescription drugs, supplemental health and
special needs outside Medicare
Feb. 9, 2012 - People in the market for health insurance will soon have clear, understandable and straightforward information
on what health plans will cover, what limitations or conditions will apply, and what they will pay for services thanks to the Affordable Care
Act – the “Obamacare” health reform law – according to final regulations published today.
Read more...
Medicare News
Medicare Misconceptions Could Land Many Retirees in Financial Hardship
Boomers nor retirees on Medicare have good understanding of the program
Feb. 7, 2012 – A significant number of retirees on Medicare lack a solid understanding of the health insurance program’s
coverage and costs. Two out of three, for example, did not know if Medicare covers long-term care. This lack of knowledge results in
unexpected financial surprises, according to research by the Bankers Life and Casualty Company Center for a Secure Retirement.
Read more...
Retirement News
80 is New Retirement Target Age for Many Middle Class Americans: Wells Fargo Survey
“Retirement Age” fades as people plan to work until reaching savings goal; Middle class below age 50 more open to Social
Security and Medicare cuts to help budget, while 50+ say “Hands off!”
Nov.
26, 2011 - The concept of a “retirement age” is going the way of the typewriter, another 20th-century relic that has been made irrelevant by
changing circumstances. Middle class Americans now expect to work until they have saved enough to afford to retire, according to results from
the seventh annual Retirement Survey from Wells Fargo & Company. Read
more...
Money, Insurance & Investments for Seniors
KHN Blog: Short Takes On News & Events
Seeking The Best Place For Long-Term Care? Head North
Percent of nursing home residents in physical restraints under 1% in Kansas, nearly 8% in California
By Phil Galewitz, Kaiser Health News
Sept.
8, 2011 - If you think there’s a
demand now for long-term care services, just wait 20 years. By the time baby boomers hit their 70s and 80s, there will be a huge
surge in
need.
Read more...
Retirees, Pre-Retirees Increasingly Concerned About
Financial Security, Paying for Healthcare
More retirees reporting they have already cut back
on spending and moved assets to increasingly conservative investments
May 16, 2011 – Senior citizens are living longer
and spending more time in retirement than every before, but this is
causing many to worry they will out last their savings. About 40 percent
of retirees and half of those about to retire, say this anxiety has
grown worse with the sluggish economy. The good news is many are taking
action to protect what they have, says a new report from the Society of
Actuaries (SOA).
Read
more...
Money, Insurance & Investments for Seniors
Older
Americans Face Climbing Long-Term Care Cost in Nursing Homes, Assisted Living
Private room in nursing home now averages $85,775
per year; home health aide cost shows smallest increase
April 20, 2011 – Senior citizens and baby boomers
are facing a continued increase in the cost of long-term care (LTC) in
the U.S., although the increase this year is less than cost increases
for other goods and services. Still, the John Hancock survey says
the annual cost of a private room in a nursing home has climbed to
$85,775.
Read
more...
News for Baby Boomers
Almost Half of Baby Boomers Nearing Retirement Have
Doubts About Affording It
Two-Thirds of Boomers Call Social Security an
"Extremely" or "Very" Important Source of Retirement Income
April 6, 2011 – Nearly half of
today’s baby boomers – now pouring into the senior citizen ranks – do
not feel confident they will have the financial resources to live
comfortably during their retirement, according to a new poll from The
Associated Press and LifeGoesStrong.com.
Read
more...
