Articles on "Money & Legal"
Research – Debt of the Elderly Increases
American families headed by individuals age 75 or older had increases in the incidence of debt, the average amount of debt held, and debt as a percentage of assets in 2010, according to research by the nonpartisan Employee Benefit Research Institute (EBRI). The EBRI analysis notes that the driver of debt for families with a head age 55 or older was housing debt: Almost three-fourths of debt payments go to pay for housing debt among these families; among those age [...]
New Study: Simple and Low Costways for Communities to Assess Their Livability and “Aging
Communities in the U.S. can follow a relatively simple and low cost initial set of indicators to determine if their services meet the needs of an aging population. These indicators can be measured using information that is readily available and adaptable to local governments, providing a low-cost way for local governments to begin to examine the specific needs of their aging populations. According to the study, Livable Community Indicators for Sustainable Aging in Place, from the MetLife Mature Market Institute [...]
Debt Levels Spike for Oldest Americans
American families headed by individuals age 75 or older had increases in the incidence of debt, the average amount of debt held, and the percentage with debt payments greater than 40 percent of their income in 2010, according to new research by the nonpartisan Employee Benefit Research Institute (EBRI). In contrast, families headed by those with ages just before normal retirement age (55–64) and just after (65–74) had very small changes in these debt measures and in some cases improvements. [...]
Study Reveals Most Expect to Outlive Retirement Savings
On average, people across the world expect retirement to last 18 years — but they expect savings to run out after 10. The findings are based on a survey of 15,000 working and retired people in 15 countries. Respondents were asked for their expectations of length of retirement, and to estimate savings based on their own definition. That could mean total income after retirement, or savings excluding state and occupational pensions. Of those who say they haven’t saved for retirement, [...]
Report Drop in Hospitalizations and Rehospitalizations among Medicare Beneficiaries
A new report suggests that communities where hospitals, other health care providers, and community services work together to coordinate evidence-based hospital discharges and provide better support in the community, can see a 6 percent drop in hospitalizations and rehospitalizations, per 1,000 beneficiaries, in just the first two years. This project relied upon Medicare’s Quality Improvement Organizations (QIOs) to anchor and guide the work, and the average community netted about $3 million dollars in annual savings for Medicare. These findings were [...]
Aging Family Dynamic May Lead to Tax Relief
Members of the sandwich generation — caught between supporting elderly parents whose assets are nearly exhausted and adult children without jobs — might find some relief come tax time. The bottom line is, who’s a dependent? Your kindergarten-age son, your adult daughter, her grandparents, or maybe an elderly uncle or aunt? “There’s a changing family dynamic because of the economy,” said Bob Meighan, vice president of TurboTax, an online tax preparation service. More people are living longer. According to the [...]
Eldercare Locator Announces Holiday Campaign to Help Prevent Financial Exploitation of Older Adults
10th Annual Home for the Holidays Campaign Encourages Families to Spend Time Discussing Strategies to Address Financial Exploitation With Older Family Members As financial exploitation targeting older adults continues to become more prevalent in the United States, the national Eldercare Locator announced today that it has launched a campaign to encourage older adults and their families to address this critical issue and to get informed about the warning signs and resources available to help prevent exploitation. Research shows that as [...]
People on the Move – Evan H. Farr
Certified Elder Law Attorney Evan H. Farr of The Law Firm of Evan H. Farr, P.C. , an Elder Law and Estate Planning firm based in Fairfax, was recently honored as one of 2012’s “Leaders in the Law” – an annual award presented by Virginia Lawyers Weekly. The “Leaders in the Law” award honors those within the legal community who are working to better the legal profession through mentoring and involvement within their community, as well as going above and beyond [...]
Help with Daily Money Management–InfoDoc, Inc.
It all started with a phone call. Ivor and Jean Jones had been living in an assisted living community in Baltimore, Md., for several years when one of their sons, Dr. Bruce Jones, received an unexpected call from their neighbor. “The neighbor had seen their condo listed in the paper as not having paid taxes. It was scheduled for tax sale,” Bruce recalled. Bruce was shocked, but he soon realized that his father had not been managing any of the [...]
Survey Reveals Future of Medicare is No. 1 Worry for Seniors
A national survey of seniors finds that the future of Medicare is their No. 1 concern. At the same time, nearly three out of four (71 percent) would pay more to keep their coverage, according to the 2012 Allsup Medicare Advisor® Seniors Survey. The national study of 1,000 seniors enrolled in Medicare plans was commissioned by Allsup and conducted by Richard Day Research, a Market Probe Company based in Evanston, Ill. Although a combined 89 percent of seniors said they [...]
Everyone is Aging
A 43-year old in a retirement community?
ProAging features innovative tools for senior-serving professionals to better serve seniors, caregivers, and their families.
View Blog »
