I have written about reverse mortgages before, but with folks so anxious about the economy, I thought it might be a good opportunity to mention it again. Below is an excellent piece from NBC Nightly News with AARP Foundation President Robin Talbert on the basic ins and outs of reverse mortgages. Bottom line, be wise, read the fine print and talk to someone with knowledge about reverse mortgages before moving forward. For the full scoop, check out AARP’s website.
Forbes: Health Care's Champions Of Change
First, in November, it joined forces with some unlikely allies--unions and big business--to rally for reform. Divided We Fail, brainchild of the AARP, also counts in its coalition the Service Employees Union, the nation's largest union, with 1.8 million members, and the Business Roundtable, a big-business lobbying group.
Variety: Representatives divided on digital
Among the panelists speaking in the afternoon, only Debra Berlyn, a consultant for the American Assn. for Retired People, concurred with Levine and Schneider. Berlyn said the AARP is trying to make sure that elderly people, particularly those in rural areas, are not left behind as a result of the transition.
Forbes: Post-Retirement Job Hunting
During 2006, the Equal Employment Opportunity Commission received 16,548 charges of age discrimination.
USA Today: Haven't saved for retirement? Don't wait another day
Say you're in what some now hopefully call "the new 30s." That means you're in your 50s. And say you've procrastinated so long that you haven't saved enough money for retirement.
An interesting press release from the Lt. Governor in South Carolina about next weekend’s primary. What does he say about voters who are 65 plus? That they will be key to whatever happens. Also, he makes a nice plug for the recent AARP survey in South Carolina that showed 8 in 10 Republican voters 50 plus are undecided about who they will support in the upcoming South Carolina primary next week. Also worth mentioning here that 61 percent of Democrats are also still undecided.
Last time I checked, things were pretty tight. Probably worth talking about what folks are concerned about. And what did the recent poll say on this? About nine in ten AARP members surveyed say the issue of health care will be important in making their decision about who to vote for (96 percent of Democrats and 88 percent of Republicans), and virtually all of them say that issues related to financial security such as Social Security, incentives for savings and investment and pension protection will be important to their voting decision (97 percent of Democrats and 94 percent of Republicans).
Baltimore Sun: A wide-open race brings out the voters
The concerns of young voters don't appear to be vastly different from those of older ones, exit polls show. And older voters also cast ballots in Iowa and New Hampshire in record numbers, said Mark Kitchens, an AARP spokesman."All Americans want change, regardless of age," Kitchens said.
Washington Post: The Gift of Tax Assistance
The AARP also provides free tax preparation to low- and middle-income taxpayers with special attention to those age 60 and older.
Wall Street Journal: Finding Day Care -- For Your Parents
Choices Grow for Increasing Numbers Of Baby Boomers Who Have Frail Relatives They Are Reluctant to Leave Alone
U.S. News & World Report: Marriage and Social Security Benefits
But married couples should pause to consider the array of Social Security options they have that their single counterparts don't.
I know everyone is tired after staying up late for the election returns over the last few days, but a little p.s. on what has been happening in Iowa and New Hampshire. AARP, its members and the issues that are so important to them have been a big part of the action. The 50-plus bloc remains a force in this election, especially on the most important issues regarding health care and financial security. In Iowa, 60 percent of Dem caucus goers and more than 70 percent of GOP caucus attendees were baby boomers and older. In New Hampshire, nearly half of all votes were cast by someone 50-plus.
It’s not just the boomers who are breaking records. Younger voters are turning out, and in record numbers. Their concerns seem to be the concerns shared by people over 50: health care and financial security. In fact, one IA entrance poll showed that GOP caucus goers under 25-years old were more concerned about the economy than the rest of the Republican caucus goers (33 percent of under-25s listed it as most important compared to 26 percent of all other GOP caucus goers).
The record turnout by all ages shows the importance of these elections and how much all Americans want change, regardless of age; especially when that change will come to the benefit of all generations. Look, if the gridlock of Washington is going to be broken, that change is not only going to come from Democrats and Republicans getting together, but also from older people and younger people coming together for common goals.
If we’re going to solve our health care crisis or address financial security issues then Washington’s going to need a change. The good news is it looks like a whole lot of people also think so.
The Center for Medicare Services released a report yesterday (and the Wall Street Journal blogged about it today) which found health care costs growing at a slightly slower rate. It also showed, however, that increases in health care spending are still outpacing both economic growth and general inflation. For the average person, this means health care is less and less affordable.
We can’t ignore the good news in the report : that the new Medicare Part D drug benefit has begun to lower out-of-pocket spending on prescriptions and greater use of generics is also helping to keep costs in check. But it is time to really restrain health care spending system wide with things like adoption of legislation establishing a national health IT system, and beginning to pay for high quality health care services, not just the number of services provided.
Until Washington is prepared to dive in and really address the issue of out of control health costs, we’ll be lucky to see any future small victories like this one.
Newsday: Editorial: Health care costs hurt retiree insurance
Of course, the real problem is the rapid rise in the cost of medical care. Unless the nation finds some way to arrest runaway costs, coverage for retirees and employees alike will continue to deteriorate.
Motley Fool: Ease Into Retirement
Organizations like AARP have created lists of the best employers for older workers, which include companies like First Horizon (NYSE: FHN), Principal Financial (NYSE: PFG), and John Deere (NYSE: DE).
Wall Street Journal: The Road to Universal Coverage
But instead of celebrating, the candidates and left-leaning pundits are squabbling over whether the plans should include so-called mandates that require everyone to purchase health insurance. Talk about self-inflicted wounds. Mandates are a sideshow, and fighting over them risks turning away voters from the main event.
Wall Street Journal: Automatic 401(k) Plans Might Not Save Enough
While automatic enrollment helps many people start saving, it often excludes a large segment of workers and steers participants to a contribution rate that is in many cases below the rate these employees would have chosen on their own, the research shows.
Boston Globe: Do adjust your set
Jim Dau, a spokesman for AARP, said monitoring the changeover will be a priority for his group this year. "Many of our members are more dependent on their televisions to keep them connected to their communities," said Dau. "Americans age 50 and above watch the greatest amount of television, almost 5 1/2 hours a day."
Chicago Tribune: Fresh opportunities for older workers
"People are not saying take this job and shove it," said Bob Gallo, Illinois director of AARP. "They want to keep working. They like contributing. "People can work longer because of the longer life span they now expect."
New York Times: Bush Admits Economy Faces Challenges
President Bush, in a marked shift from his usual upbeat economic assessments, conceded here on Monday that the nation faces “economic challenges” due to rising oil prices, the home mortgage crisis and a weakening job market.
Associated Press: Vt. Senator Laments Low-Income Plight
Sanders said the $2.6 billion Congress passed last month for the Low-Income Home Energy Assistance Program known as LIHEAP, which he said is $400 million more than last year but 23 percent less than what Congress provided two years ago, is not enough, given escalating fuel costs and cold weather. He plans to push for an extra $800 million and the release of millions of dollars in emergency LIHEAP funding.
I’m not even in New Hampshire and even I’ve heard it… “Your signs are everywhere”. By this, I mean Divided We Fail signs. So, for those of you in warmer locales, a little taste of what you’re missing.
AARP has a team of folks in New Hampshire leading up to primary day tomorrow and they are attending candidate events all over the state – Nashua, Manchester, Keane, you name it. But sometimes it is the less direct education that can have an impact.
The team came up with these cool coasters that they have been handing out to the candidates. They have clever sayings like, "A Republican and a Democrat walk into a bar to discuss health care. This shouldn't be a joke." On Saturday, they took it a step further. While chatting up reporters at New Hampshire’s notorious Wayfarer Inn, they stumbled upon an even better idea – they left our Champ coasters at the bar. The bartender said she'd be glad to use the "Champsters" (that's Champ and coasters - get it?!) when serving the media folks.
Influence any way you can, I say!
New York Times: Six Decades at the Center of Attention, and Counting
“We work to dramatically change the perception of what is old by focusing on ageless realities,” said Emilio Pardo, chief brand officer for AARP, formerly the American Association of Retired Persons. “Life is based on someone’s needs, not how many years they’ve lived. We emphasize the idea of ageless aging.”
Time: The Boomers Hit 62
You've heard about the pending retirement of the boomers before, of course. You've also heard that Social Security faces some big funding problems. The two have less to do with each other than you might think.
Wall Street Journal: The Market Braces for the Boomers
If the baby boomers stop working, they ask, who will produce the goods and services to keep the economy growing? If they stop earning, who will pay taxes to fund their Social Security and Medicare checks? And if they sell off stocks and bonds to finance their golden years, who will buy?
BusinessWeek: To Retire Or Not to Retire?
This year is a demographic watershed, a critical juncture for both individuals and employers. This is the year the first Boomers are officially eligible to retire.
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