ShAARP Session: Observations from AARP

Results tagged “financial security” from ShAARP Session

Nov '09 11

Correy Robertson | 8:34 AM | 0 Comments

Yesterday, AARP's Director of Financial Security, Jean Stetzfand, was featured in a segment NPR's "Tell Me More" program. Stetzfand is discussing the issue of older workers and unemployment - a topic that is gaining more and more exposure in the media recently, and obviously one that is important to AARP and its members. Read the transcript or listen to the segment here.


Stetzfand discusses the fact that workers over age 55 spend more time looking for work, possibly because employers see older workers' skills are "out of date," forcing job seekers to "reinvent themselves," which can prove to be a daunting challenge. So - "Why not just retire?" the host asks. Stetzfand explains that many Americans just aren't financially prepared for retirement. Give the story a listen to see what she has to say about how retiring at different ages affects your income.


In other financial security news today, on the ABC News website, David McPherson writes a column about Roth IRAs - what he calls "one of the best defenses against potential future increases in federal and state income taxes." Are Roth IRAs right for you? Individuals can convert current retirement savings into Roth IRAs, or can start an account and make yearly contributions. See what McPherson has to say for the nitty gritty that might help you determine what's best for the future of your retirement savings.

Oct '09 24

ShaarpWriter | 7:28 PM | 3 Comments

From Tara Coates

There are four ways to achieve wealth, says AARP financial ambassador Jonathan Pond: marry it, inherit it, win the lottery...or live beneath your means.


"The real key to financial success is to save regularly and regularly increase the amount you save," Pond told an audience of several hundred Saturday at AARP's Vegas@50+ Member Event.


And don't stop investing, or become overly cautious, once you retire. Pond said that retirees often make the mistake of having too much money in cash or other investments that don't have a high rate of return. "You still need income and growth investments to meet the rising cost of living increases. Sure, you may be tapping into your retirement funds in four years, but that money will need you to last 20 or more years."


Pond also encouraged the audience not to forgo living the good life in order to pass along a "fat" inheritance to their children -- who, he said, "don't deserve an inheritance. They just don't. I tell that to everybody -- except my mother," Pond said as the audience laughed and clapped in agreement. Instead, he said, spend the money on yourself and enjoy your life. He closed the session by leading the crowd in a mock swearing-in session in which they all promised to "die destitute."

When it comes to housing, Pond encouraged the audience to downsize from a larger home, to a smaller, more manageable space. But what about having extra room so the kids and the grandkids can visit? "Take the money from selling the house and put them up at a hotel," he said. Plus, he said, there's what he calls "Pond's law of bedrooms": the more bedrooms you have, "the more likely your adult children will move back home."

Nov '08 17

Alejandra Owens | 1:43 PM | 1 Comments

I found this Bulletin Today article really interesting, and one that applies to many more people than we think. The title, "Are Your Risking You Own Retirement If You Give Financial Help to an Adult Child?"

While some parents may think that they must always support their children no matter what, but this piece may give you some questions to think about. A couple of example:

  • Was it a situation that your child couldn't control? Or are you paying to help him recover faster from financial carelessness? The most valuable help you could give toward becoming financially responsible may be not to help.
  • Is it an investment that will pay off eventually in financial independence for your child? As they say: That's priceless.


And if you're a parent with a younger child, I find it incredibly important to teach your children about finance and how to manage your money, it could be an enormous tool for them as they grow up. Not to mention, the current state of our economy is all the more reason to do it!

Nov '08 7

Alejandra Owens | 9:31 AM | 0 Comments

AARP sat down not too long ago to talk with U.S. Treasury Secretary Henry Paulson, where he told them rather than focusing on the second economic stimulus, his efforts were directed towards making efforts to stable world markets and the U.S. financial system. Here's some of his thoughts:

"We have not done as good a job at communicating as we should have . . . Our objective has never been to save a particular financial institution, but to serve the public interest. "Stability in the financial system is a social good. If we don't have confidence in the financial system and our markets, the people who are the losers are the American people. And the biggest losers are those who are retired and on fixed incomes and those who are working hard to make ends meet. It's a crushing burden."

Indeed it is. Make sure to check out the whole feature.

Oct '08 28

Alejandra Owens | 12:14 PM | 2 Comments

While at Divided We Fail we relish in seeing the number of Americans who have signed our pledge grow more and more each day, the reason that number is already up to 811,994 is because there are real-life, personal human stories to back up the magnitude of health care and financial security issues in our country right now. Take Kathy, from New York, for example, who tells DWF:

"Last year at the age of 42 I was diagnosed with brain cancer. I have a six year old and a one year old. For obvious reasons, I can no longer work and my husband, who works full-time, and I are having a difficult time taking care of our family. My health insurance only covers about two-thirds of my costs (which is not terrible) but now I am trying to figure out how to pay for a live in nanny so she can help me take care of the kids, cook, clean and drive me to doctor appointments. One of us has to keep working so my husband is doing all that he can do. We were doing fine before the cancer hit but now we are floundering."

It's harrowing stories like Kathy's that wake us up as to how far-reaching these issues really go. You can hear more touching tales from your fellow Americans in our new Average American ads on YouTube.

Divided We Fail wants to hear your stories, as well! Tell us why you're making health care and financial security your top priorities for Election 2008 at http://www.capitolconnect.com/dividedwefail/reg_share.aspx. If not a story, then at the very least sign the Divided We Fail pledge at http://www.aarp.org/issues/dividedwefail.

TAGS: Divided We Fail, health care, financial security, pledge, Average American, YouTube, DWF, AARP, ShAARP Session

Sep '08 22

Champ | 1:53 PM | 2 Comments

Steven P. Smith is our DWF Champ of the Week

Divided We Fail is proud to recognize Steven P. Smith, from Boston, as this week's DWF "Champ of the Week". Steven posted an encouraging message on our Divided We Fail Facebook Fan Page, where he calls on America to "work to assure health and financial security for all."

Thanks Steven for your commitment to DWF and for being an engaging member on our social network pages!

You too could be named Champ of the Week by joining the active discussions on our Facebook and MySpace fan pages! The lifeline of this initiative depends on raising millions of voices and making sure our political leaders hear what America has to say... so get talking!

TAGS: Divided We Fail, DWF, Facebook, MySpace, Steven P. Smith, Boston, health care, financial security, social network, Champ of the week, Champ, politics

Aug '08 5

Alejandra Owens | 11:05 AM | 3 Comments

Rock the Vote is all about empowering and building the political power of young people in America to achieve progress. Divided We Fail wants to reach out to future generations about the issues of health care and financial security. So what a perfect marriage of these two initiatives, now that DWF Facebook fans can pledge to vote right off of our Facebook fan page, thanks to the Rock the Vote widget!

Divided We Fail recognizes that America's younger generations are going to be the most affected by the state of financial security in their retirement, and to take a stand, it's important not only that they be aware of the issues, but that they vote now, in the upcoming election, and make a difference.

So learn about the issues and sign the Divided We Fail pledge, and then register to vote with the Rock the Vote widget so your opinion is heard!

Aug '08 1

Champ | 1:01 PM | 0 Comments

The Divided We Fail initiative couldn't be possible without the hard work of our state coordinators, who spend tireless hours each week to get the word out about this cause. We'd like to extend our sincerest thanks to all of them, for helping to make the goals of affordable health care and long-term financial security attainable. This week, we'd like to recognize Steve Griffin, the Divided We Fail New Hampshire State Coordinator, in particular, for his stellar work supporting DWF.

Steve recently coordinated a group of 15 volunteers at a Rochester, New Hampshire Town Hall meeting, where Arizona Senator and presidential candidate, John McCain, recognized AARP's healthcare effort, saying that DWF was doing "a tremendous job." Senator McCain reached out to Steve specifically, and asked him to give a 60 second spiel about Divided We Fail.

After letting the crowd know about all the supporters in the audience, who proudly donned their DWF red hats and shirts, Steve turned the speech back over to McCain. The Senator referenced when he and Huckabee had gone on stage together in Iowa at a Divided We Fail event, and he stated that he thought this was one of the most productive conversations he'd had, as it allowed the voters to compare the candidates and issues.

Read the full transcript of McCain's speech on washingtonpost.com or watch the video footage of Steve here.

Thanks again Steve! Keep up the good work for Divided We Fail.

Jul '08 16

Alejandra Owens | 4:01 PM | 0 Comments

I can't tell you how thankful I am that so many are helping us demand affordable health care from political leaders. It means so much to see all of the encouragement in your posts, comments, and new friendships on the DWF community pages.

Your stories, feedback and commitment really keep us going which is why it is so exciting to celebrate a monumental achievement of reaching 650,000 signed pledges for Divided We Fail.

A number of politicians have supported the DWF initiative, but it is the commitment and support that comes from our friends on social networks that are putting the initiative into overdrive so that we reach our goal of 1,000,000 signed pledges.

So, once again, I'd just like to extend a huge THANK YOU to everyone who's participated in the campaign!

If you haven't had an opportunity to make your voice heard, I hope you take action now by signing the Divided We Fail pledge.

If you're looking for new ideas on how to get involved you may want to consider working with one of our state offices, joining us on Facebook or MySpace, posting a banner on your blog or site, commenting on any blog that is talking about health care and financial security, or simply starting conversations in your community about these important topics.

Keep up the great work and together, we can end partisan gridlock and realize real change.

TAGS: Divided We Fail, DWF, Facebook, MySpace, Divided We Fail pledge, blog, health care, financial security