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Great Golf Quotes from the Pros
Golf

Great Golf Quotes from the Pros

by Jeff Dailey
written by Jeff Dailey

These greens are so fast I have to hold my putter over the ball and hit it with the shadow. ~ Sam SneadGreat Golf Quotes from the Pros
I was three over. One over a house, one over a patio, and one over a swimming pool.
~ George Brett Great Golf Quotes from the Pros
Actually, the only time I’ve ever used a one-iron was to kill a tarantula. And I took a 7.
~ Jim Murray
The only sure rule in golf is – he who has the fastest cart never has to play the bad lie.
~ Mickey Mantle
Sex and golf are the two things you can enjoy even if you’re not good at them.
~ Kevin Costner
I don’t fear death, but I sure don’t like those three-footers for par.
~ Chi Chi Rodriguez
After all these years, it’s still embarrassing for me to play on the American golf tour. Like the time I asked my caddie for a sand wedge and he came back ten minutes later with a ham on rye.
~ Chi Chi Rodriguez
The ball retriever is not long enough to get my putter out of the tree.
~ Brian Weis
Swing hard in case you hit it.
~ Dan Marino
My favorite shots are the practice swing and the conceded putt. The rest can never be mastered.
~ Lord Robertson
Give me golf clubs, fresh air and a beautiful partner, and you can keep the clubs and the fresh air.
~ Jack Benny
There is no similarity between golf and putting;they are two different games, one played in the air, and the other on the ground.
~ Ben Hogan
Professional golf is the only sport where, if you win 20% of the time, you’re the best.
~ Jack Nicklaus
The uglier a man’s legs are, the better he plays golf.It’s almost a law.
~ H G Wells
I never pray on a golf course. Actually, the Lord answers my prayers everywhere except on the course.
~ Billy Graham
If you watch a game, it’s fun. If you play at it, it’s recreation. If you work at it, it’s golf.
~ Bob Hope
If you think it’s hard to meet new people, try picking up the wrong golf ball.
~ Jack Lemmon
You can make a lot of money in this game. Just ask my ex-wives! ~ Lee Trevino
I’m not saying my golf game went bad, but if I grew tomatoes, they’d come up sliced.
~ Lee Trevino

Great Golf Quotes from the Pros

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Health Tips

7 Habits of People Who Age Well

by Jeff Dailey
written by Jeff Dailey

Exercise, diet—even attitude—can be as important as genetics when it comes to growing old gracefully. “Old age,” as Bette Davis once said, “is no place for sissies.” But that doesn’t mean you need to chicken out. Sure, growing older affects nearly every part of your body—including your hair, skin, heart, muscles, and more—but aging well may be as simple as adopting these (mostly) easy everyday habits. 7 Habits of People Who Age Well 7 Habits of People Who Age Well

Maintain a positive attitude.

You are what you think you are when it comes to aging. Seniors who think of age as a means to wisdom and overall satisfaction are more than 40 percent more likely to recover from a disability than those who see aging as synonymous with helplessness or uselessness, according to The Journal of the American Medical Association.

Watch what you eat…

Nutrition plays a major role in how your body ages. “The latest research shows that a low-glycemic diet high in fresh fruits and vegetables, whole grains, and lean protein is healthiest,” says Dr. Jeffrey Benabio, Physician Director of Healthcare Transformation at Kaiser Permanente Primary Care. One great example is the Mediterranean diet, rich in plant-based foods, whole grains, nuts, and red wine (in moderation!). It also involves eating fish twice each week and cutting back on salt. Research shows that this type of diet may help you age better by warding off heart attacks, strokes, and premature death, according to Harvard Medical School. An added bonus: Benabio says that foods rich in Omega-3 fatty acids, such as walnuts, salmon, and flaxseed, help your skin manufacture the essential oils it needs to protect itself and can help skin look younger. In contrast, sugary, carbohydrate-heavy, and fatty foods—think, chips, soda, and white bread—can speed up the aging process, says Benabio. “So, when shopping or dining out, opt for whole grains and natural sweeteners,” he says.

…And how much you eat.

Overeating may lead to a shorter life span, cardiovascular disease, and type 2 diabetes, according to the NIH. To age well and live longer, it’s best to stick to a balanced diet that consists of about 2.5 cups of vegetables, 1.5 to two cups of fruit, six ounces of grains, three cups of dairy, and five ounces of protein each day.
Staying active is a vital part of aging well. The average woman can lose 23 percent of her muscle mass between ages of 30 and 70, says Fabio Comana, a faculty instructor at the National Academy of Sports Medicine. You lose muscle more rapidly as you age, but exercise—resistance workouts in particular—can increase mass and strength, even well into your 90s, says Comana. Staying fit may also reduce age-related memory loss, according to a study published in the journal Frontiers in Aging Neuroscience. Plus, Alzheimer’s disease accounts for approximately 60 to 70 percent of all dementia cases, says Comana, adding that increasing physical activity can decrease this statistic by 25 percent. That’s because exercise strengthens the hippocampus, the region of the brain associated with learning.

Stay social.

Friends and relatives can help you live longer. Those of us with strong social ties were shown to have a 50 percent higher chance of living longer than those with poor or insufficient relationships, according to a study published in the journal PLoS Medicine.

Protect your skin from the sun.

Too much time in the sun can cause wrinkles, not to mention cancer. But wearing sunscreen can help prevent your skin’s aging. And while the sun’s UV rays do trigger vitamin D production, which is essential for bone health, that’s hardly a good reason to expose yourself. “Here are the facts,” Benabio says. “After a few minutes of sun, your skin stops making vitamin D…and starts making skin cancer.” Most people get plenty of Vitamin D, but if you think you’re not, try eating more salmon or even eggs (don’t skip the yolk).
You probably know that you should snooze for seven to nine hours each night, according to the National Sleep Foundation. But did you know that not sleeping enough may mean a higher risk of obesity, heart disease, and diabetes. Plus, naps can improve memory and even help make up for missing nightly Zzs. And it turns out that “beauty sleep” isn’t a myth. During sleep, your body releases a growth hormone that helps restore collagen and elastin, the essential building blocks of young, healthy skin, says Benabio. Recent studies have also shown a connection between insomnia and accelerated aging of the brain, Benabio says. In other words, chronic lack of sleep adversely affects your brain’s function and speeds up the aging process. “Too many of us treat sleep as a luxury instead of a need,” says Benabio. “If I could encourage people do make one healthy change this year, it would be to sleep more.”
By Abigail Wise from Real Simple

7 Habits of People Who Age Well

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Fun Apps for Elders

Understand Mobile Device Forensics

by Jeff Dailey
written by Jeff Dailey

Hold the Phone: What You Should Know About Mobile Device Forensics

When we think of detective work, we typically think of law enforcement officials tracing fingertips or other pieces of physical evidence. But forensic evidence has moved into a new frontier, thanks to the advent of technology.

Nearly all adults have a cell phone—but they’re not all the same device, and they don’t all operate the same either. Add in other smart devices, such as smartphones and tablets, and many households have multiple avenues to gather and store data. And that data goes well beyond what’s currently stored on the device. There are contacts, photos, texts, and more—even external storage as well as storage that lives in the cloud, or online.

Many people use their smart devices for more than just personal use—they often use it for business purposes, too. And with more use comes the possibility for more involvement in crimes, from terrorism to extortion and sports betting. In fact, nearly all crimes involve the use of a device, according to some estimates.

The rapid evolution of digital technology means that the law is also constantly changing as it relates to potential evidence on our smart devices. Some standards hold true: If you allow the police to do a search, they don’t need a warrant for your mobile pieces. But courts differ in their approach, especially in the legality of search and uses for cell phones. And law enforcement can often work with phone providers to retrieve data—although it’s often difficult for them to keep up with the hardware, software, and other updates related to smart devices.

It’s best to think about information on our phones as possible evidence for law enforcement. And although the ground is shifting beneath our feet as it relates to legal precedence, this graphic can help sort out where things stand now. Understand Mobile Device Forensics

Understand Mobile Device Forensics
Impact of Mobile Device Forensics

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2016 Guide to Social Security Benefits
Social Security

2016 Guide to Social Security Benefits

by Jeff Dailey
written by Jeff Dailey
Social Security is an important part of most Americans’ retirement planning, so it’s important to know how it works and how you can estimate your Social Security benefits. You should also understand your Social Security eligibility and how taking Social Security benefits before, at, or after full retirement age can affect your retirement income. 2016 Guide to Social Security Benefits

How your Social Security benefit is calculated

Unlike many pension plans, which are based on just the top few years of your earnings, Social Security takes your 35 highest-earning years into account when computing your benefit. Each year’s income, up to the maximum taxable Social Security wages, is indexed for inflation, and averaged together. A formula is then applied to arrive at your full Social Security benefit — that is, the monthly amount you are entitled to if you retire at your full retirement age.

  • 90% of the first $856 in monthly earnings
  • 32% of the amount between $856 and $5,157
  • 15% of the amount above $5,157

As an example, let’s say that your average indexed monthly earnings were $4,000. Based on the formula, your benefit would be 90% of $856, or $770.40, and 32% of the other $3,144, or $1,006.08. Adding these together produces a monthly benefit of $1,776.48. 2016 Guide to Social Security Benefits

Are you eligible for Social Security?

In order to be eligible for Social Security, you need to earn 40 “credits” during your working lifetime. Each $1,260 in earnings you have in 2016 will give you one credit, up to a maximum of four credits per year. This amount changes each year, but if you earn enough to get the four-credit maximum in each of 10 years, you’ll be eligible for Social Security benefits.
Your eligibility status is reflected on your annual Social Security statement, which I’ll discuss a little later.

What is your full retirement age?

For people born between 1943 and 1954 (those reaching retirement age now), full retirement age is 66 years old. For those born after that time period, the full (or normal) retirement age gradually increases to 67 for those born in 1960 or later.
Here’s a chart to help you determine your full retirement age for Social Security.

If you were born in… Your full (normal) retirement age is…
1943-1954 66 years
1955 66 years, 2 months
1956 66 years, 4 months
1957 66 years, 6 months
1958 66 years, 8 months
1959 66 years, 10 months
1960 or later 67 years

Your full retirement age is useful to know, because your calculated Social Security benefit amount from the previous section (also known as the primary insurance amount) assumes you start collecting benefits at this age exactly.

Filing early or late can make a big difference

You don’t have to wait until full retirement age to start collecting benefits. In fact, you can file for Social Security as early as age 62, or you can choose to delay your benefits until age 70.
If you file early, your benefit will be reduced. Starting with your full benefit amount, your benefit is reduced by 6-2/3% for each year before full retirement age (up to three years early), and 5% for each year beyond that. Conversely, if you choose to delay benefits, your monthly checks will increase by 8% for each year you decide to wait.
To illustrate this, here’s how your benefit could be affected if your full retirement age is 66.

If you start collecting benefits at this age Your benefit will be (% of full retirement age benefit amount)
62 75%
63 80%
64 86.7%
65 93.3%
66 100%
67 108%
68 116%
69 124%
70 132%

How to estimate your benefits before you retire

You can obtain your Social Security statement by creating an account at www.ssa.gov. Your statement contains lots of valuable information, such as

  • Your estimated benefit amount at full retirement age.
  • Eligibility for benefits.
  • A detailed history of how much you’ve earned each year.
  • Estimates for disability and survivors’ benefits, should you need them.

Ss Screenshot
Keep in mind that the figures in your statement are just estimates, and your eventual benefit amount could be quite different, especially if you’re relatively young now.

Benefits are protected from inflation

While Social Security isn’t designed to be anyone’s sole source of retirement income, it is indexed for inflation – meaning unlike most other retirement assets, your purchasing power will remain the same over time.
Each year, the Social Security Administration (SSA) applies a cost-of-living adjustment to Social Security benefits, based on the consumer price index. The index that the SSA uses actually fell during its 2015 measuring period compared to the previous year, so there will be no cost-of-living adjustment in 2016; but there have been some substantial adjustments in the past. In 1980, inflation was so high that Social Security recipients received a 14.3% cost-of-living adjustment to keep up.
The point here is that you don’t need to worry about inflation — at least when it comes to your Social Security income. The system is designed so that, if goods and services eventually cost twice as much as they do today, you’ll receive double the Social Security.
How to file for Social Security
The easiest way to apply for Social Security benefits is online at ssa.gov. The application takes about 15 minutes, according to the SSA, and there are no additional forms to sign, and usually are no additional documentation requirements.
If you don’t want to apply online, you do have other options. You can apply by phone from 7 AM to 7 PM, Monday through Friday, or in person at your local Social Security office. If you choose to apply in person, the SSA advises that you should make an appointment. You can look up the SS office closest to you here.
Spousal, disability, and survivors’ benefits
There’s more to Social Security than retirement benefits. In fact, there are three other types of Social Security benefits to be aware of:

  • Spousal benefits: If you and your spouse both file for Social Security at full retirement age, each spouse is guaranteed a minimum of half of the other’s benefit. For example, if a retiree is entitled to a monthly benefit of $2,000, their spouse will receive at least $1,000, even if his or her own benefit amount would be much less according to their work record.
  • Survivors’ benefits: If a worker dies, his widow, children, and other dependents could be eligible for benefits. Survivors benefits are an entire topic by themselves, so here’s a full discussion of this feature of Social Security.
  • Disability benefits: If you become disabled and can no longer work, your Social Security record could entitle you to benefits. You can find your theoretical disability benefit amount on your Social Security statement, as you can see in the example above.

Can you work and collect Social Security at the same time in 2016?

Sort of. There are three different categories of Social Security recipients, and there is a different “earnings test” that applies to each.

  • For SS recipients who will not yet reach full retirement age in the 2016 calendar year, the first $15,720 in earnings is exempt. Beyond that amount, every $2 in earnings will reduce Social Security benefits by $1.
  • For SS recipients who will attain full retirement age during 2016, the first $41,880 is exempt, and the reduction is just $1 for every $3 in earnings beyond that. Plus, only the months before your birthday count toward the total.
  • Finally, SS recipients who choose to work past full retirement age will experience no benefit reduction, no matter how much they earn.

It’s also important to note that any reduction in benefits isn’t lost — rather, a reduction will increase your future benefit amount. For a thorough description of the rules about working and collecting Social Security, check out this article.
Isn’t Social Security going bankrupt?
While it’s true that, within a few years, money will begin flowing out of Social Security’s trust funds faster than it’s flowing in, it shouldn’t be cause for concern. Even without congressional action, Social Security will be able to cover 100% of benefits until 2033. After that, once the trust funds are depleted, the taxes coming in will still be enough to cover more than three-fourths of all benefits.
As I’ve written before, I’m confident that something will be done. Similar situations have come up in the past, and measures were taken to prolong the system’s solvency.
It’s a popular misconception that once the trust funds run out, benefits could stop coming altogether. Some retirees are even claiming benefits earlier than they otherwise would, fearing that they should get what they can while Social Security still has money to pay. Don’t make this mistake.

A major financial decision

Even if you have substantial assets when you retire, chances are that Social Security will still make up a large portion of your retirement income. The decision of when to begin collecting Social Security is one that can affect you and your family for decades, and should be taken seriously. If you’re approaching the age of eligibility, make sure to carefully consider all of the pros and cons before filing.

The $15,834 Social Security bonus you could be missing

If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $15,834 more… each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we’re all after. Simply click here to discover how to learn more about these strategies.

By Matthew Frankel
(TMFMathGuy)
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8 Steps to Manage Parents' Finances
Money Tips

8 Steps to Manage Parents' Finances

by Jeff Dailey
written by Jeff Dailey

The need to take over your parents’ financial life, especially if it happens suddenly, can be extremely stressful. However, if you approach it one step at a time, you’ll get a handle on what needs to be done. Even if you’re not at this point with your parents yet, this list can help you decide what to do now — before anything happens. 8 Steps to Manage Parents’ Finances

Managing parents’ finances

  1. Find all financial accounts and documents.
  2. Collect and start paying bills.
  3. Locate power of attorney or living trust.
  4. Open your parents’ safe-deposit box.
  5. Become your parents’ guardian.
  6. Document everything you do.
  7. Consider hiring a financial planning team.
  8. Consider updating investments.

Step 1: Find all of your parents’ financial accounts and documents.

“Like it or not, you now need to become a financial detective,” says Michael Haubrich, Certified Financial Planner in Racine, Wisconsin. If your parents keep their bank and investment files in an easy-to-find place, consider yourself lucky. Otherwise, your best bet is to locate your parents’ most recent tax return.
“Most of your clues will be on Schedule B, where they listed dividends and interest income and the names of financial institutions,” says Haubrich. If you suspect your parent worked with an accountant, attorney or financial adviser, contact that person right away; he or she often can help you round up necessary financial information.
Advance planning tip:If your parents are still well, encourage them to assemble a file or “financial map” that details the location of their financial accounts and safe-deposit boxes, as well as the names of their financial professionals.
“Even if parents don’t want to tell their adult kids how much money they’ve got, I encourage them to at least tell the kids where they can find this information in an emergency,” says Haubrich.

Step 2: Collect and start paying bills.

If you have any concern that Mom and Dad won’t have enough money to pay their bills and medical expenses, cool your jets first. Be sure you have a list of all assets and expenses before you start paying routine bills. You may need to consult an elder care attorney or financial planner for help and to prioritize what should be paid and what can wait.
If your parents are on solid financial ground, pay all their bills promptly. Don’t be surprised if some of them are behind: Mom might have been ailing before her stroke and could have forgotten to pay some. “Try to get current on everything, from utilities to grocery deliveries,” says Martin Shenkman, an elder law attorney in Teaneck, New Jersey. “It will make things a lot easier if you need help from these folks after Mom returns home. It also helps you avoid unnecessary late charges.”
If you don’t have access to your parents’ checking account, consider paying their bills yourself and getting reimbursed later. “However, only do this if you’re absolutely sure your parents have enough money to repay you,” says Haubrich.
Advance planning tip:As your parents age, ask them to have financial institutions, mortgage companies, etc., automatically send you copies of your parents’ monthly statements. You might spot an error or trouble spot early — before it becomes a crisis.

Step 3: Locate power of attorney or living trust documents.

If your parents named you as their agent in their power of attorney, or (for larger estates) as successor trustee in their revocable living trust, you’ll need to show these documents to every financial institution you deal with.
Before a bank can even tell you your dad’s checking account balance, it needs this form to prove you’re entitled to the information, says Shenkman. “If your name is not already on your parents’ checking account, but you’re listed on their power of attorney, you can still pay their bills,” says Shenkman. “Simply sign checks as Jane Smith (mom’s name) by John Smith (your name) as POA (power of attorney).”
If you’ll be handling your mom’s or dad’s accounts indefinitely, add your name to their bill-paying checking account. Your bank branch manager can arrange this after reviewing the power of attorney form.
Important:“Be very cautious about handing over or mailing power of attorney or trust documents to anyone,” says Shenkman. “Although most banks and brokers want to see the originals — and may even ask you to mail them if they’re out of state — they’ll usually settle for a ‘certified true original,’ which is a copy prepared by your financial professional,” he says.
If you have no choice but to send the original, Haubrich suggests sending the documents by overnight mail and insisting that the financial institution overnight them back to you. An out-of-state bank or broker may also agree to have a bank officer in your hometown authenticate the documents. 8 Steps to Manage Parents’ Finances
Advance planning tip:There are three important documents you can help your parents prepare before they become ill.

Most important documents:

  • A power of attorney form,which allows you to take care of their finances.
  • A health care proxy,which allows you to make life-and-death medical decisions.
  • A will,which determines how their assets will be divided when they’re gone.

Step 4: Open their safe-deposit boxes — with a witness.

Your parents shouldn’t keep their power of attorney form or living trust originals in their safe-deposit box. They’re better off at home in a fireproof box. Why? If you don’t have these important forms in hand, and you’re not listed on your parents’ safe-deposit box account, you’re in trouble. You need those forms to gain access to their box.
If this happens, the easiest option may be to get a new power of attorney form. This is possible as long as your parent is still competent enough to authorize it. Otherwise, you’ll need a court order to open the safe-deposit box — a major hassle.
“When you open your parent’s safe-deposit box for the first time, take along a witness, open the box with a video camera rolling, and immediately make an inventory — on paper and on the videotape — of everything inside,” says Shenkman.
This might sound like overkill, but Shenkman says you’d be surprised at how often siblings accuse each other of taking valuable items out of their ill parent’s house or safe-deposit box. Sometimes the items were never there to begin with.

Step 5: No POA or living trust? Become your ill parent’s guardian.

In the sad event that your dad develops dementia or is so ill he cannot handle his finances — and he has not signed a power of attorney form or created a living trust — you’ll need to go to court before you can help him.
Proving that your parent is mentally and/or physically incompetent is not a pleasant process, says Shenkman. An elder law attorney can guide you through the process. In most cases, you’ll need two or more physicians to certify in writing that Dad or Mom can no longer manage his or her life alone. You’ll also need to go to court and a judge will determine whether you can handle your parents’ affairs.
“The judge may even appoint a ‘guardian ad litem,’ whom you’ll have to work with to prove that you’re not taking advantage of your parents,” says Shenkman. “Guardianship creates a level of complexity you really don’t want unless you have no other choice.”
Advance planning tip:Becoming a parent’s guardian is expensive and time-consuming. All the more reason to be sure your parents have signed a power of attorney form or established a living trust well before they might need it.

Step 6: Document everything you do on your parents’ behalf.

If you pay Mom’s bills, keep copies of every check you write — either as checkbook duplicates or the check images that accompany statements. Keep bank statements, too. If you pay for anything with Mom’s cash, keep detailed receipts. If you meet with a financial planner or attorney, keep thorough notes of what they advise. These kinds of details can help show siblings that you’re handling your parents’ affairs responsibly.

Step 7: Consider hiring a financial planning team.

If your parent develops dementia or could require care for many years, get as much outside help as you can, says Haubrich. Financial planners, tax preparers and attorneys can help you avoid common (and often expensive) financial mistakes. They can also help you decide how best to budget your parents’ money or determine whether your ill parent could outlive her money. That way your siblings may feel more comfortable knowing that you’re not trying to manage your parents’ financial affairs on your own.

Step 8: Consider updating your parents’ investments.

Your dad could live another 15 years with Alzheimer’s disease. Over that time, his financial objectives will probably change. A skilled financial planner can help you decide whether Dad’s certificates of deposit are too conservative or whether he’s got too much of his money in stocks.
“Even if you are pretty good with money, don’t guess about what to do with your parents’ investments,” says Haubrich. “Other beneficiaries of the estate could later second-guess your choices, and you don’t want that.”
Haubrich says that if your parents have a reasonably large estate, a financial adviser will also consider the combined interests of both the parent and the ultimate beneficiaries. If your parent has plenty of money to cover his care for years to come, for instance, the planner might suggest longer-range investments aimed at benefiting the kids or grandkids. Those options are best evaluated with professional help.

By Teri Cettina • Bankrate.com

Teri Cettina is a freelance writer in Portland, Ore.

8 Steps to Manage Parents’ Finances

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What Aging Parents Want from their Kids
Money Tips

Selecting Right Homeowner’s Insurance for your Lifestyle

by Jeff Dailey
written by Jeff Dailey

Are you a first-time home buyer? An established homeowner? An empty nester? Whatever stage of life you’re in, it pays to make sure you have the right insurance – and you’re not paying for coverage you don’t need. Selecting Right Homeowner’s Insurance for your Lifestyle
Homeowner policies can be customized to fit to your lifestyle, so you’re not automatically paying for coverage on home upgrades you don’t have, such as security systems, expensive jewelry or antique collections, says Charles Valinotti, senior vice president with insurer QBE.
He says regardless of lifestyle stage, there’s one type of coverage everyone should have – insurance to replace possessions in their homes. “If the home is destroyed, contents will be replaced at today’s value.”
Here’s a summary of other essential insurance coverage to fit your lifestyle: Selecting Right Homeowner’s Insurance for your Lifestyle

When you’re new to home-buying

You’ve closed the deal on your biggest purchase yet and you need sufficient protection, even though you don’t have many belongings. You’ll need insurance for the structure of your home, as well as against common disasters, such as fire, severe storms, vandalism and theft. Extra liability insurance is a good idea in the event someone is hurt in your home.
“Remember to add coverage as you make improvements costing more than $5,000 or add TVs, computers, stereos and furniture to your home’s inventory,” says Valinotti. Selecting Right Homeowner’s Insurance for your Lifestyle

When you’re an established homeowner

You’ve moved into a home that fits your family’s needs and is filled with belongings you’ve acquired – such as family heirlooms, artwork and expensive jewelry or rugs – that typically aren’t covered by a basic homeowner’s policy. Make a home inventory video to document your personal property and keep the video in a safe place away from your home, like in a bank safety deposit box.
“Established homeowners should consider buying an insurance policy ‘floater’ or ‘rider’ to cover these special items,” Valinotti says. Selecting Right Homeowner’s Insurance for your Lifestyle

When you’re an empty nester

Not only have your children moved out to work or attend school, you’ve scaled down your lifestyle. Valinotti suggests that now is the time to reassess the value of your home and your possessions. “If your children have taken their things with them, such as furniture, laptops or televisions, you may need less coverage than you did before,” he says. Thinking about starting a home business now that the kids are gone? If you work at home, you may need a supplemental liability policy that covers your work-related activities. If you decide that you’re finished with your homeowner responsibilities and want to rent an apartment or condominium, remember: You still need insurance coverage.
Valinotti recommends talking with your insurance agent about what protection is essential for your specific stage of life. “That way, you’ll be sure to have enough coverage to return to your current lifestyle should you experience a major loss,” he says. Selecting Right Homeowner’s Insurance for your Lifestyle

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Checklist for Retirement
Retirement Planning

Checklist for Retirement

by Jeff Dailey
written by Jeff Dailey

Are you looking to retire within the next two to three years? If so, it is imperative that you are prepared to make the leap. Retirement can be a fun and exciting time in your life, but only if you are fully prepared for it. We have made a checklist to make sure you are prepared for this new season of life. Checklist for Retirement
 
Before retiring from your job, make sure that you and your spouse are properly covered by health insurance. Not taking this step can be costly and it can have a negative impact on your retirement savings. Checklist for Retirement
Most senior citizens are able to qualify for Medicare. Do you? If so, complete your paperwork and signup right away. You do not want to create any lapses in coverage. If you do not qualify for Medicare yet, be sure to examine other avenues of coverage. Can you purchase affordable health insurance or can you extend your current health insurance plan with COBRA?
Before retiring from your job, make sure that both you and your spouse are covered with the right amount of life insurance. Do you have a private life insurance policy? If not, now is the time to get one. Some employers terminate an employee’s life insurance policy if it was provided and paid for by the company. As your age increases, life insurance is a must, so make sure that you are covered.
If you have been contributing to your company’s 401(k) plan and an IRA, you need to decide when to start withdrawing this money, as well as how you want to do so. Do you want to receive one large, lump sum payment? If you are unsure, it may be best to first consult with a financial advisor. In fact, when doing so, be sure to ask about all rules and restrictions. If you withdrawal your money from your Individual Retirement Account (IRA) before the written guidelines, you may be charged a penalty. Checklist for Retirement
Over the past few years, you likely developed a clear vision of what your years in retirement would look like. Where do you want to live? What type of property do you want to live in? What activities do you want to enjoy? Do you want to start your own small business? Your retirement savings are likely based on your retirement wants and needs. Now is the time to make any last minute changes, as you still have a couple of years to save additional money.
Do you foresee yourself making a large purchase in the near future? These purchases can include a new home or a car. If so, now is the time to make them, especially if you will depend on financing from a professional lender. Some lenders will give loans to those in retirement, but some are also cautious of doing so, due to fixed income living. That is why you are encouraged to make all large purchases before you enter into retirement.
The above mentioned points are just a few of the many that you will want to examine and take action when needed. As a reminder, if you plan to retire in two or three years, you still have time to save for retirement. Contribute any amount that you can to your 401(k) or Individual Retirement Account (IRA). When it comes to retiring, there is no such thing as having too much money.

Checklist for Retirement

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Age-In-Place

Is Aging In Place A Pipe Dream?

by Jeff Dailey
written by Jeff Dailey

Former secretary of HUD Henry Cisneros’ mom lived in the house she and her husband bought in 1945 until last month, two weeks after her 90th birthday, when she was hospitalized, and the doctor said it wouldn’t be responsible to let her go home because her disorientation and forgetfulness would likely result in another incident. Cisneros reluctantly helped her moved to a memory care facility, and the visits are wrenching. “The truth is she doesn’t want to be there; she wants to go home. She ends up crying, and I want to go out to the car and cry,” Cisneros said in his keynote speech at a conference on housing and aging yesterday. Is Aging In Place A Pipe Dream?

Housing is the linchpin of our well-being, according to the AARP Foundation and the Harvard Joint Center for Housing Studies which held the conference in conjunction with the release of a new report, Housing America’s Older Adults—Meeting the Needs of An Aging Population. The experts explored the mismatch between the nation’s housing stock and Americans’ desire to age in place at home. And they issued a warning: as the baby boomers age and the number of Americans over age 85 swells (triples!) to 20 million by 2030, “our country must face the basic fact that we are aging and we are not ready,” Cisneros said.
Cisneros’ mom, Elvira, intended to live out her days in her 1920s bungalow in the West Side neighborhood of San Antonio, Texas where Cisneros was mayor before he headed the U.S Housing and Development Agency under President Clinton (he now heads housing developer CityView). Cisneros even held her up as a model of aging in place in his 2010 book “Independent for Life: Homes and Neighborhoods for an Aging America.”

Integrating housing and health services in new accessible multi-family buildings is one approach to the nation’s lack of affordable housing, but most Americans would rather stay at home, in a rocking chair on their front porch.

The reality is that for some people, you can age in place—but only up to a point. Most Americans live in isolated detached, single family homes in suburban or rural neighborhoods without access to transportation services. “The existing housing stock is unprepared to meet the escalating need for affordability, accessibility, social connectivity and supportive services,” the report concludes. The conference speakers offered a range of solutions. The audience favorite: Age-Friendly NYC’s program that enlists doormen (through the building services union) to refer tenants to city agencies and social services if they show signs of elder abuse or cognitive decline.
Here are some ideas for the rest of us. Is Aging In Place A Pipe Dream?
Pay off your mortgage. More than 70% of homeowners aged 50 to 64 are still paying off their mortgages in 2010, with an average loan-to-value ratio of 56%. And 40% of homeowners aged 65 and over are paying off their mortgages, with an average loan-to-value ratio of 45%.
Trying to get to a situation where you’re not facing mortgage payments in retirement is key, says 53-year-old Chris Hebert, acting managing director of the Joint Center. Herbert said he’s aiming to pay down his home loan in the next 10 years. If your house is paid off, you can better handle property insurance, taxes, and day to day expenses, and have a cushion to pay for health care and caregiving services.
Renovate with universal design. “Where older people live now is likely where they’ll be living,” Herbert says, noting that people are making decisions about housing they’re going to occupy later in life in their 50s and early 60s. He tried to get his 63-year-old brother-in-law who was embarking on a major home renovation project to think ahead, but he didn’t do anything to make his house accessible. Nobody in the process—the architect or builder—egged him on to do so. One thing that allowed Cisneros’ mom to stay in her house as long as she did was ramps and an accessible bathroom that were originally installed for her late husband.
The five key features for an accessible home are: a no-step entry, single floor living, wide doorways, accessible electric switches and outlets, lever-style door handles and faucets. Only 21% of houses have at least three of these features.
Talk about who will help mom. Between 2015 and 2035, the number of people over the age of 75 living alone will nearly double from 6.9 million to 13.4 million, the majority of whom will be women. And the majority of those women will have caregiving needs. About one in four older adults has a cognitive, hearing, mobility or vision difficulty. By age 85, however, more than two in three adults face at least one of these difficulties.
The family care ratio is going in the wrong direction, notes Herbert, who says he pools resources with four siblings to care for his mom, but he and his wife have only two kids to eventually call on for caregiving support. And then there are the childless who will rely on friends and extended family to help them through old age. Of the youngest baby boomers, aged 50 to 59, 16% do not have children who might take care for them in older age, the Joint Center found.
“The Joint Center is often referred to as the Joint Center for gloom and doom,” Herbert jokes. But the message he hopes people will take away is that individuals and their families need to recognize these issues and take steps now to prepare.
By Ashlea Ebeling,

FORBES STAFF

Is Aging In Place A Pipe Dream?

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Simple Tips on How to Save Money
Money Tips

Simple Tips on How to Save Money

by Jeff Dailey
written by Jeff Dailey

In this world today, prices seem to go higher every year. Saving money can sometimes be a hard job for many people. To help you save money, here are some pointers for you: Simple Tips on How to Save Money

  • Determine the things that are important to you. Identify the items that you need and the items that you want to have. Always remember that you should only buy things that are important and needed in your lifestyle.
  • Make sure that you spend your money only on basic needs like food, transportation, shelter, and clothing. These basic needs are worth spending for because these are important for your health and security. They are the things that you cannot live without and should be allotted in your budget.
  • Make a list of the things that you want to buy and be sure that the items that you are buying are good enough to sustain your basic needs. You have to be satisfied with the things that you have now, as long as it is still useful and can accommodate your needs.
  • You may avoid unwanted purchases by trying the item first before buying it. This is to make sure that the item is worthy enough to acquire. There are instances that you tend to buy things without even knowing its effectiveness and quality. You have to keep in mind that you always need to spend your money wisely on items that have quality and are according to your budget.
  • You may try to budget your money in advance. You can make a plan first before spending your money. There are instances that you spend your money without even thinking that it is not the right time to have it. It also advisable to buy items at the end of the season, prices at this time of the year are low and cheap.
  • You may compare items on their prices. Do not limit your options to just one store only. You may find the best item that can be useful and affordable to you by window-shopping first rather than buying by impulse. Many stores out there carry the same items and can offer lower prices.
  • You can save more money in your household by conserving electricity. Be sure to turn off appliances that are not in use. You may compare your monthly electric bills regularly to check if you are maintaining your desired bill.
  • You can save on your transportation by traveling wisely. It is recommended that you make your itinerary to help you to not forget your destinations. Being organized will help you save money and time.
    Simple Tips on How to Save Money

Simple Tips on How to Save Money

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