August 2006 - Posts
Pittsburgh Post-Gazette, August 29th, 2006
Hundreds of thousands of seniors are signing up for a type of privately
run Medicare plan that delivers traditional benefits without the usual
restrictions on access to doctors and hospitals. In turn, some
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Pittsburgh Post-Gazette, August 30th, 2006
Note to retirees: Beware the family.
Financial swindles are one of the fastest-growing forms of elder abuse.
By some estimates, as many as five million senior citizens are
victimized each year, says
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Mortgage101.com, August 28th, 2006DEAR BOB: My 90-year-old mother-in-law has
recently moved permanently into a nursing home. She has a new reverse
mortgage on her free-and-clear home to pay her living costs. My husband
will inherit her house when she
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The New York Times, August 27th, 2006To the Editor:
Re “Public Pensions in Trouble” (editorial, Aug. 22):As
a person with a decent public pension, I agree with your emphasis on
responsible public policy when it comes to government pensions.
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Miami Herald, August 27th, 2006Q: I began getting Social Security last February. This
year I lost my job. A financial advisor suggests I take a reverse
mortgage ''lump sum'' and invest it to supplement my Social Security
income. I have no other income
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Primarily want to maintain mental ability – fear
Alzheimer's the mostAbout seven out of ten senior citizens are concerned about
their health and wellbeing and 80 percent try to keep up with health
news – mostly from their doctor, but secondly
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Best Syndication, August 23rd, 2006In the last few years reverse mortgages have been growing in
popularity among the elderly. While there are numerous advantages
associated with reverse mortgages there are also disadvantages as well.
Before you take
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Best Syndication, August 23rd, 2006When it comes to a reverse mortgage, wise consumers weigh the advantages and disadvantages prior to signing on the dotted line.
Let’s start on a positive note, you could do what most borrowers do
and opt for the reverse
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Black Enterprise, August 21st, 2006Retirees don't have to sell their stocks and switch to funds or
income-only investments. With patience and the right kind of stocks,
you can stay in the investing game indefinitely. Vince
Tranchita, 75, bought his
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Arizona Daily Star, August 20th, 2006Most variable annuities are the lemons of retirement vehicles
because of many sour features: They are generally overpriced, oversold
and fully taxable when you withdraw the money from them.
That's not the end of
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Contra Costa Times, August 20th, 2006SALLY Scott is 66 years old. Social Security and pension checks
aren't enough. She saw an ad for a "reverse" mortgage, allowing seniors
62 or older to receive cash by borrowing against their homes, and it
does not
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The New York Times, August 20th, 2006Every year since 1999, New
York City has reported that it has all the money it needs to pay for the
pensions that have been promised to city workers.With the retirement plans said to be financially sound, state
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ForbesAutos.com, August 14th, 2006"This," Richard Adatto said, "is the premier car event in the world."
Adatto, an automotive historian and author, should know. He's a chief
judge at the upcoming 56th annual Pebble Beach Concours d'Elegance, a
four-day-long
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Reuters, August 15th, 2006Many wealthy Americans with nest eggs of $1 million may not have
enough money for their golden years because they do not invest
appropriately after leaving their jobs, a poll released on Tuesday
shows.The survey, commissioned
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Mortgage101.com, August 15th, 2006If you, a parent, relative or friend is a
senior-citizen homeowner who needs or wants cash to enjoy retirement,
the new book "The Reverse Mortgage Advantage" by financial columnist
Warren Boroson provides an excellent
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The Washington Post, August 12th, 2006Remember when you refinanced your home mortgage to get a lower interest rate and pay less every month?How
quaint. And how utterly out of date. Now the rage is refinancing into a
higher interest rate -- yes, you
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Pittsburgh Tribune-Review, August 14th, 2006
If you have a 401(k) retirement plan at work, contribute to it. As much as you can, as soon as you can.
Time is wasting.
USA Today reports that as many as a third of employees eligible for the
plans
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Fort Wayne Journal-Gazette, August 14th, 2006Your 92-year-old widowed grandmother falls down and breaks her hip.
She stays at the hospital for a few days after surgery and then
transfers to a rehabilitation facility. After another week, she
transitions
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The Baltimore Sun, August 13th, 2006The equity you build up in your home is not a retirement-savings
account, although many Americans are tempted to think that it is.The smartest way to think about home equity, financial planners say, is
as a cushion,
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The Arizona Star, August 13th, 2006Vince Olszewski was in something of a financial pickle: he owned
his 45-year-old Southeast Side home free and clear but had no cash to
make basic repairs.
The roof leaks. The water heater rattles. The doors need
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Best Syndication, August 9th, 2006What’s a reverse mortgage? In a nutshell, it’s this. In a regular
mortgage, you make monthly payments to the lender. But in a “reverse”
mortgage, you receive money from the lender and generally don’t have to
pay it
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The New York Times, August 8th, 2006In 2003, a whistle-blower forced San Diego to reveal that it had been
shortchanging its city workers’ pension fund for years, setting off a
wave of lawsuits, investigations and eventually criminal indictments.The
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The Courier-Press, August 8th, 2006If yours is one of the 57 percent of American households that has
some sort of retirement account, give yourself a pat on the back. You
have taken a major step toward avoiding spending your senior years in
relative
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Smart Money by Bruce WilliamsThe Cincinnati Post, August 8th, 2006DEAR BRUCE: We own two homes, one in Pennsylvania
and our primary residence in New Jersey. Our ages are 66 and 68, and we
would like your thoughts on taking a reverse mortgage on the
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The National Center for Policy Analysis, August 7th, 2006Congress has passed major pension reform legislation aimed at
protecting the benefits corporate America has promised to millions of
workers and getting employees to increase their retirement savings,
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Bankrate.com, August 7th, 2006Lots of consumers have watched the rates double on their home
equity lines of credit in two years.
Say you took out a credit line at the prime rate two years ago and
borrowed $30,000 against it. Back then, you faced
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Editor's Note: For the full summary of the bill, click here.Detroit Free Press, August 4th, 2006A Republican election-year effort to fuse a cut in inheritance taxes
on multimilllion-dollar estates with the first minimum wage increase in
nearly
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More employers are enrolling workers
in 401(k) plans without asking them first, and a bill in Congress could
accelerate the trend.The Chicago Tribune, August 2nd, 2006Shannon Scrivens discovered a surprise in her paycheck earlier this year: It went
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The New York Times, July 31st, 2006
Alan Beggerow has stopped looking for work. Laid off as a steelworker at 48, he
taught math for a while at a community college. But when that ended, he could
not find a job that, in his view, was neither demeaning
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