Grim Report on Our Retirement Savings Habits

General Posted by   Date  
According to an article in The Week, half of all workers have put nothing away for retirement. Baby boomers have a median savings of only $78,000 while experts say to sustain a middle-class lifestyle across 15 or more years a retiree needs nearly one million dollars!

At the same time Medicare and Social Security trust funds run out of money, boomers may be without anything to fall back on. If it sounds scary well it is scary. And you should be scared.åÊ


The average balance in all 401(k) accounts is $60,000 so generations coming next are doing little to help their cause as well. A third of the people ten years from retirement have saved less than $25,000!

And to make things worse, people tend to stop funding their retirement or even borrow against it when they change jobs or have debt to pay. Of course the latter is somewhat understandable.åÊ


Consider in 1980, 60 percent of private sector employees had pensions. By 2006, only 10 percent did.

Maybe this is a lesson for future generations about savings. Because the harsh reality is that many of us will have to postpone retirement and keep working if the workforce will have us that is. And we’ll have to downsize our housing, our travel and most of all our expectations.

Low Physical Activity in Today‰Ûªs Youth May Mean Increased Dementia Rates in the Future

General Posted by   Date  
@kidsfitnessmiami
Women who are physically active at any point over their life have lower risk of cognitive impairment in late-life compared to those who are inactive, but teenage physical activity appears to be most important, according to the Journal of the American Geriatrics Society.
There is growing evidence that people who are physically active in mid- and late life have lower chance of dementia and more minor forms of cognitive impairment in old age. Early life physical activity and the relative importance of physical activity at different ages has not been studied as much.

Researchers led by Laura Middleton, PhD, of Sunnybrook Health Sciences Centre, Canada, compared the physical activity at teenage, age 30, age 50, and late life against cognition of 9,344 women from Maryland, Minnesota, Oregon and Pennsylvania to investigate the effectiveness of activity at different life stages.

Of the participants, 15.5%, 29.7%, 28.1%, and 21.1% reported being physically inactive at teenage, at 30 years, at 50 years, and in late life respectively.åÊ
When physical activity measures for all four ages were entered into a single model and adjusted for variables such as age, education, marital status, diabetes, hypertension, depressive symptoms, smoking, and BMI, only teenage physical activity status remained significantly associated with cognitive performance in old age.
‰ÛÏOur study shows that women who are regularly physically active at any age have lower risk of cognitive impairment than those who are inactive but that being physically active at teenage is most important in preventing cognitive impairment,‰Û said Middleton.
The researchers also found that women who were physically inactive as teenagers but became physically active at age 30 and age 50 had significantly reduced odds of cognitive impairment relative to those who remained physically inactive.åÊ
Middleton added, ‰ÛÏAs a result, to minimize the risk of dementia, physical activity should be encouraged from early life. Not to be without hope, people who were inactive at teenage can reduce their risk of cognitive impairment by becoming active in later life.‰Û
There is evidence to suggest that physical activity has a positive effect on brain plasticity and cognition and in addition, physical activity reduces the rates and severity of vascular risk factors, such as hypertension, obesity, and type II diabetes, which are each associated with increased risk of cognitive impairment.
Once again, our platform, educated aging – physical, emotional, financial – comes into play. Look through our hundreds of post and spot the word exercise. It’s never to late to start a program.

Even Affluent MisUnderstand Retirement Savings

General Posted by   Date  
A Harris Poll released by Nationwide Financial surveyed individuals who have at least $250,000 or more in household assets and plan to retire by 2020. Respondents reported health care costs as a major concern.åÊ
73 percent of those nearing retirement reported out of control health care costs as one of their top retirement fears, and nearly 1 in 5 reported being fearful of declaring bankruptcy as a result of health care costs.

Most underestimated the average annual health care cost thinking they would need $5,621 annually, while the national average is $10,750.

‰ÛÏOne reason people may underestimate the amount of money needed to cover their health care costs in retirement is that many workers do not think they will ever need long term care‰Û_ Americans also mistakenly believe that Medicare covers long term care ‰ÛÒ it does not.‰Û said Kevin McGarry, director of the Nationwide Institute for Retirement Income.

åÊA USA Today / AP Article lists these tips for preparing for retiree health care costs. If you review this blog, you will know that these are common themes we have stressed over the years.

1. Developing a retirement spending plan. AARP and others offer a retirement calculator to help you estimate retirement costs and determine how much you should save.
2. Buy disability insurance. 9% of workers have already withdrawn money from retirement savings, sold assets or borrowed money for a serious illness or medical procedure. Coverage will replace at least a portion of your income if you’re unable to work due to illness or injury. Think the duck.
3. Consider long-term care insurance.
4. Get healthy. One of the most effective tips may be one that many workers have figured out on their own. More than half of the workers surveyed by Sun Life said they are trying to improve their health by dieting, getting more exercise or quitting smoking because they’re worried about future health care costs.åÊ
You may want to check an earlier post in regards to the last one. What we say and what we do are at odds with each other.åÊ

Cirillo to Present at National Summit on Perspectives in Nutrition and Aging

General Posted by   Date  
Senior hunger is an issue seldom talked about. Yet 8.3 million seniors faced the threat of hunger in 2010. We will have a future blog on this in detail. But because of our attention to this issue, I was asked by Meals on Wheels to submit a perspective on senior hunger outlining a possible solution.

To my delight, my perspective, ‰ÛÏUniting the Continuum of Care‰Û has been selected for presentation at the Perspectives in Nutrition and Aging: A National Summit being held on August 23, 2012, from 9:00 a.m. to 4:00 p.m. at the Gaylord National Harbor Hotel in National Harbor, Maryland.

Want a preview of what I will do live?

Here is the video.

Meals on Wheels has found that 6 million seniors face the threat of hunger. Their goal is to match that number ‰ÛÒ with 6 million people who are willing to stand up and pledge to do what it takes to end senior hunger. Take their pledge and get involved.

Contact your local program to deliver or prepare a meal. Meals On Wheels volunteers also provide the seniors they serve with companionship and a warm, friendly smile when they arrive at the door.
381382383384385

caregiver summit

null

null

Contact

4contact_anthony_button

Senior Smilecast (Podcast)

Free Caregiver Sur-Thrival Guide –

Free Caregiver Sur-Thrival Guide

Want to know how to turn caregiving from a burden to an opportunity? Sign up for our newsletter and receive this free 55-page guide as well as a white paper that can guide your community and health providers in becoming dementia friendly. It's not about surviving caregiving. It's about thriving!

30 Day Caregiver Support Program

Aging Insider

aging insider-1-300x300px

SixtyandMe.com

Caring Champtions

Top Senior Site

Top Senior Site

Purple Angel

purple angel

Sharecare With Dr. Oz

We feed to Dr. Oz's Sharecare!

Boomer News from Alltop

FacebookTwitterGplusPinterestLinkedInYouTubeRSS

Home  /  About the Aging Experience  /  Team  /  Sitemap  /  Terms  /  Contact Form