grow older better

Tag: social security

  • Our Golden Years Are Being Tarnished – Badly

    I posted about aging and economic insecurity

    and here is yet another glimpse into what it is like to be old in America in the 21st Century.


    We like to think the housing and foreclosure "crisis" has slowed down and that help has come to those who most need it.

    But it's not true for the elders among us.

    According to the AARP,  more than 3 millions older Americans face losing their homes.

    As of December 2011, approximately 3.5 million loans of people age 50+ were underwater—meaning homeowners owe more than their home is worth, so they have no equity; 600,000 loans of people age 50+ were in foreclosure, and another 625,000 loans were 90 or more days delinquent. From 2007 to 2011, more than 1.5 million older Americans lost their homes as a result of the mortgage crisis.

    We had years of no increase in Social Security Income, a very bad economy which destroyed retirement savings accounts, a lack of jobs, and ever increasing costs for food, fuel, heat, and medications. On top of this, towns and cities have also lost income and have raised property taxes to cover services. It became a vicious cycle and that has led to many of these foreclosures.

    Older Americans lost their savings and now they are losing their homes.

    What financial institutions are going to work out a negotiated deal on a mortgage or home equity loan for someone who has a fixed income and increasing costs of living?

    What happened to the "respect your elders" that we used to hear?

     

    Thoughts about what can be done?

  • Our Golden Years? Not Really

    golden_years

    Reaching 65, retiring, relaxing and having fun used to be the goal of most Americans…the "golden years" of aging.

    With the economic bust, many who thought they would be retired are still working….out of sheer necessity…they need the income and they sorely need the health insurance.

    According to the National Council on Aging:

    Over 20 million Americans aged 60+ are economically insecure—living at or below 250% of the federal poverty level (FPL) ($27,225 per year for a single person). These older adults struggle each day with rising housing and health care bills, inadequate nutrition, lack of access to transportation, diminished savings, and job loss. For older adults who are above the poverty level, one major adverse life event can change today’s realities into tomorrow’s troubles.

    Women, who earn less than men [77 cents to the man's dollar] fare less well as they age too. 56% are disadvantaged financially – while only 30% of men are.

    But life need not be economically bleak as we age.

    It may be difficult to find a "job" but it is far less difficult to have your own business.

    A business that can bring in sufficient income to take the tarnish off the golden years and make them shine!!

     

    If you want to learn more about being self-employed let me know…I've written some on this and will write more….

     

    Thoughts? Comments? Thanks!




  • Older and Unemployed? Try Working For YOU!

    From everything I hear, there might be a small increase in Social Security for 2012 – BUT – any increase is likely to be offset by an increase in the cost of Medicare. So it seems we will be into year 3 of no actual increase in the monthly income.

    The economy is improving slightly but I'll bet older people are not the ones that will be getting hired or getting the "good" jobs.

    Older people with experience are seen as requiring higher pay levels.  It's better for the bottom line to hire young people for lower pay.

    Then there is the office mentality [shh – it's a well kept secret] of not hiring people smarter or more capable than you because they might "get" your job. 

    People who are not seen as threats are safer hires.

    In short: The job market isn't going to look too good for older workers for a long while – if ever. And if you rely on Social Security – it's not going to increase.

    I therefore put this question out there for you:

    If you want to increase your income [and most do] why not be your own boss?

    Stop job hunting!

    For most, job hunting is a debilitating experience. You apply for many jobs and do not even get a courtesy reply of "sorry." You don't even get an acknowledgement that your resume has been received. In fact, you never hear anything from the places you apply to.

    And if you do manage to get a live interview, you may still never hear from them again. Interviews are done for many reasons, and, in my opinion, not all of them ethical reasons.

    What can you do to earn money?

    • Become your own boss!
    • Become an entrepreneur!
    • Do what you always wanted to do!
    • Turn your long time dreams into reality!

    There is much to say about being self employed or an entrepreneur that I'll post on the topic over the next few weeks.

    Stay tuned in

     

    Comments?  Questions?

  • Boomers and later-borns – a warning!

    I've written about the economy and seniors before – but it is a message that needs to be repeated – so here it is again!

    YOU SHOULD NOT BE DEPENDENT ON SOCIAL SECURITY

    Social Security will post nearly $600 billion in deficits over the next decade as the economy struggles to recover and millions of baby boomers stand at the brink of retirement, according to new congressional projections.

    Read more about these social security deficits.

    No matter how old you are now – and even if you've been collecting social security for a while – you really need to have other sources or additional streams of income…

    You'll feel safer and you'll be happier!

    Comments?  thank you

     

  • Boomers! Welcome to my world!

    On January 1, 2011 the first wave of baby boomers started turning 65 and are now eligible for Medicare…

    Some worry there won't be sufficient funds in either Medicare or Social Security to last for the rest of their lives.

    Many boomers will not yet retire as they can not yet afford to do so!

    Medicare may be a good plan but the cost of participation tends to increase both on the Government side and the private sector side.  Medicare Advantage programs are not free…even to some say they are … you get what you pay for…

    And Social Security?  We are into the second year of no increase in the monthly payout.

    To add to the worries, if you live in Oregon – you have another concern if you are in a senior care facility.. or wind up in one….because Oregon elder care has glaring lacks!

    Federal law requires states to have an ombudsman to protect the rights of people in long-term care. The average state has one ombudsman monitoring 2,220 beds. Oregon has just one for 6,692 beds.

    Oregon relies on volunteers..but if everyone needs to keep working to afford to live – who will be the volunteers taking care of and looking out for Oregon's elder population?

    Scary thoughts to start your 65th birthdays!

    Thoughts? Comments? Thank you for posting below….