Hands to Help Seniors

View From A Non-Profit Serving Carmel, Carmel Valley, Gonzalez, Greenfield, King City, Marina, Monterey, Pacific Grove, Pebble Beach, Salinas, Seaside And Soledad California A recent article in USA Today promoted waiting as long as possible to apply for Social Security so that you can get the maximum benefit.  Unfortunately, following the recession many baby boomers are struggling to get by and need the money sooner, rather than later.  You can start taking Social Security payments at the age of 62.  The age at which you are eligible for your "normal" retirement benefit varies based on when you were born.  It's currently 66 years old for those retiring this year, although if you wait until you are 70 you will get the maximum benefit.  "It probably is the least-evaluated decision for retirees but has more complexities than people are aware of," says Jack Tatar, the author of a book called Safe Retirement.  "Most people take it at 62.  They end up losing in the long run.  If they delay it until 70, they will get 30% more.  Unfortunately, most American's can't do that," he said.  Indeed, 70 years old is a long time to wait until you retire.  But many baby boomers are facing the fact that they don't have enough to retire anyhow.  If they have a good job, hanging onto it until they are 70 may be a viable option to rebuild a damaged 401K and end up with a bigger paycheck from Social Security.  It may not be what they planned, but no one planned for the recession.    

Please note that this blog reflects my personal opinion and may or may not reflect the opinion of Hands to Help Seniors and the individual members comprising the Board of Governors.

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View From A Non-Profit Serving Carmel, Carmel Valley, Gonzalez, Greenfield, King City, Marina, Monterey, Pacific Grove, Pebble Beach, Salinas, Seaside And Soledad California Donna Arnett, president of the American Heart Association and the American Stroke Association is on a great mission of creating public awareness for strokes.  Although they can be devastating and even lethal, if not treated very, very, quickly, sometimes patients survive with little or no damage.  The key is getting help very, very quickly.  Donna should know.  She had a stroke at the age of just 27.  That's very unusual.  Less than 1% of the population in the 20-39 age group have a stroke.  The odds get increasingly worse as you age : 2% in the 40-59 age group, 6-7% in the 60-80 age group and about 14% for those 80 years and older, according to the Centers for Disease Control and Prevention.  Remarkably, Donna survived with no ill side effects, but she had a lot of knowledge as well, which helped.  At the time of her stroke, she was a nurse and worked for a cardiologist. She recognized the signs quickly and went to the hospital.  "By the time I got to the ER, I couldn't speak anymore.  It was really terrifying, being a health professional and knowing this was a stroke," she told USA Today.  She's working on a project now called Together to End Stroke, which helps people recognize the signs such as one side of the face drooping, slurred speech and weakness in one arm.  If you believe you may be having a stroke or are witnessing one, call 911 immediately.  Researchers recently found that one-third of patients didn't call an ambulance but rather drove themselves or had a family member drive them.  Those precious minutes could mean the difference between life and death.  Many stroke victims suffer brain damage, paralysis and other terrible ailments.  Thank you Donna, for spreading the word.  

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View From A Non-Profit Serving Carmel, Carmel Valley, Gonzalez, Greenfield, King City, Marina, Monterey, Pacific Grove, Pebble Beach, Salinas, Seaside And Soledad California

There was a very sad story in The New York Times about senior citizens who have been taken advantage of by taking loans against their pension plans, not realizing that the interest rates were well above market rates.  Dubbed pension advances, these transactions are not advances at all but loans disguised as advances, according to authorities.  Many seniors which have been put under pressure by the economic downturn and the rash of cuts in services due to state and federal budget cuts felt they could pull some money out of their money and put it back later.  One ad on the web targeting veterans says, "You've put your life on the line for Americans to protect our way of life.  You deserve to do something important for yourself."  Sadly, these are Internet loan sharks in disguise.  An analysis by The New York Times of dozens of contracts found that interest rates ranged from 27% to 106%.  Worse, this information was not disclosed in the contracts.  To qualify for the so-called advances, many seniors have had to take out a life insurance policy which names the lender as the sole beneficiary.  Legal aid offices in California told reporters that they have seen a surge in complaints from retirees regarding these loans.  This is absolutely shameful, and I hope authorities prosecute these firms and put them out of business now that more attention has been focused on the practice.

Please note that this blog reflects my personal opinion and may or may not reflect the opinion of Hands To Help Seniors and the individual members comprising the Board of Governors.

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View From A Non-Profit Serving Carmel, Carmel Valley, Gonzalez, Greenfield, King City, Marina, Monterey, Pacific Grove, Pebble Beach, Salinas, Seaside And Soledad California Millions of Americans will have access to Medicaid (called Medi-Cal in California) starting in January as a result of President Barack Obama's health care reform (the Affordable Care Act).  This is great news, because many low income people just don't go to the doctor because they simply cannot afford it.  A new study published in the New England Journal of Medicine this week found that those who gained access to Medicaid/Medi-Cal spend more on health care, making more visits to doctors and more trips to the hospital.  Unfortunately, it also found that those with access to Medicaid/Medi-Cal were not healthier than those who didn't have the insurance, although the period studied was only two years.  It may be that the study period was just too short because the results don't seem to make a lot of sense.  Another finding of the study was that having the insurance did substantially reduce the incidence of depression and made them feel much more financially secure.  This makes a lot of sense, because people who can't afford medical care would be worried and depressed.  I'm happy about the Affordable Care Act giving more low income residents access to health care, but I'm still worried about whether they will be able to find a doctor who will take Medi-Cal.  Reimbursement rates are just so paltry that it's extremely difficult to find a doctor who would take a new patient who only had Medi-Cal.

Please note that this blog reflects my personal opinion and may or may not reflect the opinion of Hands to Help Seniors and the individual members comprising the Board of Governors.

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View From A Non-Profit Serving Carmel, Carmel Valley, Gonzalez, Greenfield, King City, Marina, Monterey, Pacific Grove, Pebble Beach, Salinas, Seaside And Soledad California Real Estate Investment Trusts (REITs), companies which invest in real estate, have had their ups and downs but many feel that the market will rebound and it's time to invest in these types of funds.  But it's not just for-profit companies that see an opportunity.  A number of non-profits including Mercy Housing, LNC Housing and Nevada HAND have created a non-profit REIT which will start buying up real estate with the view of creating more affordable housing.  What a wonderful idea.  The Joint Center For Housing Studies of Harvard put out a report in 2011 that 8.7% of low-income rental space was upgraded to higher income units during the last decade.  There is a dearth of affordable housing on the Monterey Peninsula and seniors have a difficult time finding an affordable place to live.  Hopefully, the REIT (which already has lined up $100 mil. in funds) will move into this area.  Prices here are indeed starting to rise and this may be just the time to jump in the market.

Please note that this blog reflects my personal opinion and may or may not reflect the opinion of Hands to Help Seniors and the individual members comprising the Board of Governors.

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