In a study that was released in the Journal of the American Medical Association on Wednesday concerning Medicare Part D, it was found that seniors who participate in the Medicare Part D program have significant savings that extend past the costs of drugs. It seems that seniors who are part of this plan not only have lower hospital bills but they also use more prescription medications, use those medications correctly and in the long run, have less out-of-pocket costs.
Archive for July, 2011
So it’s not necessarily a topic that most people want to talk about, but – we all pass on. And we all need to think about what kind of imprint we want to leave behind on this earth. Sure, you can be buried in a coffin, carefully filed away into a wall or cremated, but how boring are those options? How about turning yourself into a tree?
Perhaps a little bizarre, but a Spanish designer by the name of Martin Azua has created something called a Bio Urn. It is made from the shell of a coconut and inside a tree seed is planted alongside your ashes. Once the urn is planted in the ground, the coconut begins to biodegrade and the seed begins to grow. Voila! You’re a tree. You can even chose which tree you would like to be. An idea that not only helps to reduce human’s negative impact on the earth but also helps future generations by planting trees.
Make sure to secure a great life before you turn into a tree! Use our Retirement Calculator to see if you’re on track for a strong retirement.
Do you exercise regularly? Everyone knows it’s good for you but new studies that were released recently reinforce the fact that the health benefits for seniors cannot be ignored. One study that was published last week in the Archives of Internal Medicine focused on how even just small physical activities like taking a walk around the block, cleaning or gardening can greatly improve cognitive functions. Over the years, seniors that were physically active scored better on cognitive tests and surveys as compared to a group of seniors who remained sedentary. The inactive group scored significantly less on cognitive tests year after year.
Another study looked at physical activity and cognition in women with vascular conditions. This study yielded the same message as the prior study – physical activity helps slow the rate of cognitive decline. And it should be mentioned that none of the people in these studies were marathon runners – the most rigorous exercise was walking. So no more excuses! Get out there and take a walk around the block to improve your physical AND mental health!
The world is waiting to see what the U.S. government will do in the upcoming days regarding a possible default. Today, the Assistant Secretary of Labor, Phyllis Borzi announced that for retirement plans such as IRA’s and 401ks, a U.S. default would be “very, very disruptive.” Why is this? According to Borzi, the likelihood of investors wanting to invest would greatly decline due to fears that they would not be able to easily access their money due to withdrawal restrictions. Pension funds would also be greatly affected because most of them are required to hold AAA bonds and U.S. treasuries.
Are you worried about your retirement funds if the government defaults? What are your thoughts on the situation?
See how strong your retirement plan is by using our Retirement Calculator.
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Have you ever been told you view the world through rose colored glasses? That may be one of the best things to do for you health! In a new survey conducted at the University of Michigan, it was found that those who look on the bright side of things have fewer strokes than those with a gloomy attitude. The study, which was made up of over 6,000 adults over the age of 50, asked their participants to rate optimism on a 16-point scale. The Life Orientation Test-Revised was the tool that was used to measure the patient’s optimism. This is a widely used test that ranks participants responses to key questions on a numeric scale. It was found that for every one point increase in optimism there was a nine percent decrease in acute stroke risk over a two year period. Not too bad for simply adjusting your attitude!
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Are you one of the many people that live in one of the 32 states under a heat advisory this week? This type of weather can be miserable for anyone but as the U.S. National Institute on Aging warned this week, this weather can be deadly – especially for older folks. Some of the problems that can develop when the weather turns unbearably hot are heat stroke, heat exhaustion, trouble moving, problems thinking and dehydration. The NIA also warned that some medications taken by older adults can cause problems that involve the heart, blood vessels and sweat glands not being able to properly respond to the heat.
How can you keep cool? Obviously staying in a cool air-conditioned room is best, but this luxury isn’t always available. Help keep your body temperature down by staying hydrated and wearing lose clothing. You can even be innovative and put a bowl of ice in front of your fan to blow out colder air! Taking a trip to the mall or the movies to soak up their air conditioning is also a great way to cool off. But if you can’t escape the heat and you do start feeling its effects, call 911 immediately. Heat sicknesses are nothing to be messed around with.
Read more tips on how to beat the heat on the CDC’s website.
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Recently, an experimental drug by the name of bapineuzumab that had previously shown harmful side effects in patients taking the drug for symptoms of Alzheimer’s, may actually be safe. This week at the Alzheimer’s Association International Conference on Alzheimer’s disease in Paris, France, it was shown that the key to keeping the drug safe may be to simply alter the dosage given.
In initial tests, the drug was found to cause water retention which led to brain inflammation in patients who were taking a higher dose of the drug. When given lower doses, these problems were not seen. This is exciting news seeing as how the drug is being developed for long term treatment of Alzheimer’s. It is wise though to be cautious regarding the good news – this was released in one preliminary study and has yet to be published in a peer-reviewed journal. Nevertheless, this is exciting news on the front of Alzheimer’s research.
Read more on the research for this drug, here.
Long Term Care Insurance can be critical if you develop Alzheimers. Use the NewRetirement Retirement Calculator to find out the costs of your retirement with and without Long Term Care Insurance.
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When most people think of the tools used for planning their retirement, they think about 401k’s, pensions and other funds that are typically associated with employed wage earners. But what happens if you or your spouse forgo a paycheck and stay at home? What kind of retirement planning is available to you?
One way to collect money is through Social Security’s spousal benefits. A spouse who has never worked under Social Security can receive a benefit equal to one-half of the working spouse’s full retirement. But just like regular Social Security benefits, it’s a good idea to diversify and not rely fully on this as your sole retirement income. Another available option is funding what is known as a Spousal IRA. If one spouse is working and the couple files a joint federal tax return, the non working spouse can contribute up to $5,000 into their own IRA or ROTH IRA.
Need more tips on how to fund retirement for a non-working spouse? Get ideas here.
Would spousal benefits be a good idea for you? Read more about them, here.
Have Baby Boomers caused all kinds of financial problems for the youth of today? It sounds a little dramatic but some believe this is the case. One columnist for a popular paper wrote a piece recently where he stated that Boomer generation will be the one that is most remembered for the “freedom it received from its parents and the incredible debt burden and constraints it left on its kids.” A pretty powerful statement! He pointed to Greece and their financial crisis as one way being very similar to ours–Greek Baby Boomers have had their cake and ate it too while they left their younger generation without a piece. A very prominent example in the US is how the younger generations are paying into Social Security with no guarantee that when they become of age, they will receive a dime.
Do you agree that the Boomer generation has left younger generations with a giant bill?
Read more about this topic, here.
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Baby Boomers are changing the face of retirement. Just ten years ago, the age at which most people hoped to retire was 64. Now in 2011, that age has increased to 69 according to a survey done by Harris Interactive. Some of it has to do with the current economic picture – people are trying to gain back what they lost in the markets. Surprisingly though, many people are postponing retirement because they are not ready to give up the satisfaction they receive from their work. That is definitely not to say that everyone wants to work a full time job for the rest of their lives, but it may mean working a part time job a few days a week or even volunteering their time. Many people just aren’t ready to live a life of pure leisure.
Does this sound crazy to you? Do you want to work part time in retirement or do you think you’ll be ready for a permanent vacation?
Read “Redefining Retirement Post Recession” the full survey from Harris Interactive.
