Prepare for the Future and Know Your Financial Options
Two things anyone can do to ensure an enjoyable life after retirement.
In a special report by MSNBC (a joint venture between Microsoft and NBC) titled “Economy hitting the elderly especially hard”, author suggests that the slumping economy is affecting retired and the elderly more than any other demographic.
Citing a study by the AARP, elderly Americans are filing for bankruptcy in record numbers.
The AARP also found:
This is astounding! Now is the time to review and ensure your financial fitness!
A specific example of a service affected by the combination of higher fuel prices and higher food prices is the “Meals on Wheels” program. Whether you are a recipient of meals from this service, or an active senior participating by delivering meals – you can see the impact. Higher gas prices make it more expensive to deliver meals, higher food prices make it more expensive to prepare meals.
What can we do about this, other critical programs and our own well-being?
Prepare for the future and know your financial options – two things anyone can do to ensure an enjoyable life after retirement.
o Research and buy long-term care insurance. This can be a much better option than assuming a reverse mortgage or family will be able to support you later in life.
Visit the AARP’s site on Long-term Care Insurance.
In times like these – with tougher times on the horizon – having a solid understanding of your financial fitness and your options is critical.
source
In a special report by MSNBC (a joint venture between Microsoft and NBC) titled “Economy hitting the elderly especially hard”, author suggests that the slumping economy is affecting retired and the elderly more than any other demographic.
Citing a study by the AARP, elderly Americans are filing for bankruptcy in record numbers.
The AARP also found:
- 45 percent say food prices have caused a hardship for their budgets
- 39 percent think at least some foods will have to be rationed within a year
- 47 percent are shopping for food less frequently
- 41 percent are eating less meat
- 18 percent have started eliminating some meals
This is astounding! Now is the time to review and ensure your financial fitness!
A specific example of a service affected by the combination of higher fuel prices and higher food prices is the “Meals on Wheels” program. Whether you are a recipient of meals from this service, or an active senior participating by delivering meals – you can see the impact. Higher gas prices make it more expensive to deliver meals, higher food prices make it more expensive to prepare meals.
What can we do about this, other critical programs and our own well-being?
Prepare for the future and know your financial options – two things anyone can do to ensure an enjoyable life after retirement.
o Research and buy long-term care insurance. This can be a much better option than assuming a reverse mortgage or family will be able to support you later in life.
Visit the AARP’s site on Long-term Care Insurance.
In times like these – with tougher times on the horizon – having a solid understanding of your financial fitness and your options is critical.
source