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Discretionary Spending Falls But Health Care Costs Rise With Age: How much money will you need in retirement? Yes, it’s a big—and complicated—question. Many retirement planning exercises start by asking you to figure out how much income you’ll need to replace after you stop working. But looking solely at income isn’t enough, says the Employee Benefit Research Institute (EBRI). A new report from the nonprofit research group considers the intersection of income, expenses and savings in retirement.

One of the reasons the income replacement method doesn’t work is that spending in retirement falls with age—you’re not likely to be spending as much at age 85 as at 65, so you won’t need a constant replacement rate of pre-retirement income. ”The main reason is that health deteriorates with age, and that means people can’t necessarily do all the things they planned,” says Sudipto Banerjee, research associate at EBRI and author of the report.

Discretionary spending on things like vacations and entertainment fall.”

But nondiscretionary spending on health care and housing doesn’t—in fact, health care costs generally increase with age. In 2009, people in the 50-64 age group spent about 9 percent of their total budget on health care, while those 85+ spent 18 percent.

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Family means the world to Latinos. Many of us dedicate our lives to care and provide for our loved ones. But we also realize that our responsibilities do not end there. As conscientious members of society, we care about providing aid to our “extended families,” such as our neighbors, fellow churchgoers and friends. At AARP we believe there’s nothing better than going the extra mile for those in need – because compartir es vivir (sharing equals living).

Learn about four opportunities where we can expand our community service: (Links provided are en español)

Food Drives: You can volunteer at or donate money to a food pantry in your community. The time commitment varies from less than an hour per week to as much as you can offer. Also, read our recommended list of nonperishable food items for donation, as well as AARP’s detailed toolkit on how to organize and implement a food rally in your community. Looking for a family-oriented activity? Join a local community farm or garden.

Education: Our boomer generation has ample and diverse skills that can be very useful for youngsters. We excel at math, sciences and reading. You can volunteer as a tutor at a local school or even help your relatives; career, financial and legal advice could very useful if you’re an expert in any of these areas. Learn more.

Health: We all know that starting and maintaining an exercise routine on your own is not an easy task. However, exercising in a group setting with friends can help you stick to a program. A good place to start could be a walking team. Check out our practical guide to learn how to start your own fitness group.

Identity Protection: Identity fraud is more prevalent than ever. Older adults, new immigrants and economically-disadvantaged minorities are at greater risk from predatory practices. The good news is that learning a few easy steps can help make a big difference. Download our fraud prevention toolkit to learn how you and your loved ones can help safeguard your personal information. The toolkit also provides fun, group-oriented suggestions, such as how to organize a document-shredding day in your community.

Learn more about AARP’s Compartir es Vivir campaign or Create the Good (en inglés)

Also, donate to the AARP Foundation’s virtual food drive to help fight senior hunger.

Photo credit: AARP

The following is a guest post from Suzie Mitchell. 

My 29-year-old son has lived in a different state than me since he graduated college six years ago. When he lived in New York, once or twice a week, he’d call me on his five minute walk from the subway station to his apartment—me savoring those minutes.

Occassionally, he would return home to Michigan, and during his visit, he would complete various home repairs and check on my computer to be sure it was operating efficiently.

Now he and his wife live across the ocean in Israel.  So our conversations have switched to G-chat or Skype, and I’ve hired a handyman to do the repairs.  However, he is still keeping tabs on my computer, thanks to a great new program called Soluto.

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 The following is a guest post from Nicole Duritz, Vice President, Health, AARP Education & Outreach

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Whether it is being able to keep your adult children on your insurance plan or having coverage options and protections that you never had in the past, the health care law—called the Affordable Care Act— provides benefits for many of us. In fact, the law has already helped millions of older Americans with the cost of their prescription drugs and will help millions more get affordable insurance.

Like most laws, the Affordable Care Act is complex. That is why AARP created the Health Law Guide at www.aarp.org/healthlawguide. It is a web tool that simplifies the law and gives you the facts to make informed decisions about your health care choices.

With the Health Law Guide, you can learn how the health law benefits you and your family in just minutes. Find out what benefits you have right now. Did you know, there are new provisions you can use today such as expanded coverage for preventive care and screenings? There are also protections against insurance cancellations and lifetime limits on health insurance coverage. I expect you will find this as reassuring as I do. The Health Law Guide also provides you with state specific programs and resources if you are having difficulty finding coverage or if you are uninsured.

Since different parts of the law will go into effect over a number of years, the Health Law Guide is updated regularly. So bookmark the page and check back often to learn about the new benefits as they become available.

I encourage you to join AARP in a free webinar on March 1st at 7pm to learn more about your health benefits and see a demonstration of the Health Law Guide. Register today.

Photo credit: 401K on Flickr.

computer

Nebraska has a bill before it’s legislature that will address the difficult issue of a deceased person’s online life by giving access to the executor of that person’s estate. The bill does not just focus on Facebook, but takes into account the myriad social network, blogging and email accounts that a person can acquire over the years.

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            Every year my extended family and I have a nationwide Academy Awards Pick ‘em. We sit through the ceremony, dutifully checking off actual winners versus our predictions, and then we honor the most accurate prognosticator with congratulatory e-mails.

The winner also gets custody, for one year, of a retired version of our Movies for Grownups Chaise d’Or trophy (This one dates from about two incarnations ago, as the MFG Trophy goes through tweaks the way Joan Rivers goes through noses).

I’ve mentioned this before, but even I find it amazing that I have never, ever won an Oscar pool in my entire life, even though I’m the only person in my circle who actually writes about this stuff for a living . The trouble is, I can’t help but choose movies and performances I feel ought to win. And so, in a pitiful attempt to be right even when I am wrong,  herewith are both my lists: who will win the Oscar race Sunday night…and who I think deserves to.

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Annnnd one last time … Newt Gingrich, Ron Paul, Mitt Romney and Rick Santorum took to the stage last night for the final GOP primary debate (this makes 20 of them, but who’s counting?) of the 2012 election season. The next time one of these four men is debating before the nation, it will be against President Barack Obama. Of course, going into Arizona and Michigan’s primaries next Tuesday and the series of presidential primaries known as Super Tuesday (10 states will cast ballots) on Tuesday, March 6, which Republican candidate that might be is still uncertain.

And what about the debate last night—did we learn anything scintillating or new? Not particularly. Romney, Paul and Gingrich used the opportunity to attack newly anointed front-runner Santorum—he’s usurped Gingrich as Romney’s chief rival, and polls show Santorum leading the race nationally and in several states—about spending in his home state and support for Congressional earmarks. Time’s Swampland blog probably has the best summary of how this portion went:

Here is a typical exchange: “Attached to a bill? Attached to a bill?” asks Romney. “As part of the bill. Congressman Paul…” says Santorum. “And the president can’t veto it?” asks Romney. “He can veto the bill,” says Santorum. “The whole bill, but he can’t veto the earmark?” asks Romney. “Well, we tried to do that, by the way. I supported a line-item veto,” says Santorum. “That’s what I support. That’s what I support,” says Romney. “Hold on. Hold on,” says Santorum. Democracy in action.

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Colonoscopy Cuts Death Rate By Half, New Study Shows

Posted on 02/23/2012 by // Personal Health and Well-being // Comments

It’s probably your least favorite cancer test, but a new study finds that the colonoscopy dramatically cuts the death rate from colorectal cancer.

A team of researchers at Memorial Sloan-Kettering Cancer Center in New York City found that the death rate from colorectal cancer was cut by 53 percent in patients who had a colonoscopy with removal of precancerous polyps, or small tumors.

The evidence was based on 2,602 adults, who had polyps removed during colonoscopies from 1980 to 1990, and who were then tracked for more than two decades.

“This is very strong evidence that provides assurance that there is a long-term benefit to removing these polyps,” lead author Ann Zauber, a biostatistician at Sloan-Kettering, told HealthDay News. “Over more than 20 years, we’re getting this very consistent decrease in colon cancer deaths, so that’s very exciting.”

The study was published Wednesday in the New England Journal of Medicine.

Doctors compared the subjects’ death rate from colorectal cancer with that of the general population and found that there were only 12 deaths in the study group, compared to 25.4 deaths in a group the same size in the general population, the New York Times reported.

A colonoscopy can detect small, precancerous growths, allowing doctors to remove them before they become malignant.

Although research has shown that removing these polyps greatly reduces the incidence of colorectal cancer, Americans still don’t get the exams as often as they should. That’s probably because a colonoscopy exam is invasive — the bowel is viewed with a tiny, insertable camera — and patients must be sedated. It also involves a day-long cleanse, using laxatives, of the lower intestine before the exam.

Even so, colorectal cancer — the third deadliest in the U.S. — is one of the few cancers that can be prevented with screening. According to the most recent federal statistics, about 143,000 Americans will be diagnosed with the disease this year, and about 53,000 will die from it. Although the death rate has been slowly declining, only about half of Americans get the exam.

A second study in Spain of 53,000 patients, also published this week, found that the relatively inexpensive, non-invasive stool sample test found similar numbers of colon cancer cases, but colonoscopies found advanced growths in twice as many people as those who took the stool test. Colonoscopy also found 10 times more people with less serious growths than the stool test did.

The Centers for Disease Control and Prevention estimate that as many as 60 percent of colorectal cancer deaths could be prevented if Americans age 50 and older would get screened regularly.

A colonoscopy should be done once every 10 years for those 50 and older whose initial exam didn’t find polyps; if polyps are found, you should have it done every three years, medical experts say.

In other health news:

Judi Dench, James Bond’s boss, has degenerative eye condition. Oscar-winning actress Judi Dench, 77, perhaps best known as James Bond’s mysterious boss M, has been dealing with two different forms of macular generation — one in each eye. According to Reuters, she can no longer read scripts and has to have someone read them out loud to her, “like reading me a story.”

For male hair loss, leg hair transplant may be one solution. Doctors may have a leg up on baldness: Transplanting hair from a patient’s legs to his head for what may be a more natural look. In the February issue of the Archives of Dermatology, Dr. Sanusi Umar explained that the finer, softer hair found on the leg is an ideal candidate for hair grafts that aim to recreate the hairline, HealthyDay News reports.

Photo credit: sportsnhealth.net