June 2008 - Posts
The New York Times, June 24 2008Fact: Every hour of every day, 330 Americans turn 60.
Fact: By 2030, one in five Americans will be older than 65.
Fact: The number of people over 100 doubles every decade.
Fact: As they age, people lose muscle mass
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The Boston Globe, June 26, 2008A 65-year-old couple needs $85,000 on average to cover
insurance costs for long-term care such as nursing home stays in
retirement, according to a study to be released Thursday by Fidelity
Investments.
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The New York Times, June 25, 2008To cut costs and reduce fraud in one corner of the sprawling
Medicare program, Congress called for competitive bidding on medical
equipment that is provided to elderly and disabled Americans and set a
sensible schedule
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The Wall Street Journal, June 24, 2008In the spring of 2001, Bill Thomas, dressed in his usual sweat shirt
and Birkenstock sandals, entered the buttoned-down halls of the Robert
Wood Johnson Foundation. His message: Nursing homes need to be taken
out
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PBS, June 23, 2008SUZANNE PRATT: Many new or soon to be retirees want to stay in their
homes. But they worry they won't have enough money to do so or wonder
what will happen if they face a financial crisis. For some a reverse
mortgage can be a viable
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Reuters, June 23, 2008Record foreclosures and
limited access to credit will make it harder than usual for the
U.S. housing market to rebound from this slump, the worst since
at least World War Two, according to a Harvard University study
released
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The New York Times, June 21, 2008You’ve probably heard about the bumper sticker, even if you haven’t
seen it. It’s the one on Cadillacs in Florida and Lexuses in Arizona
that says “I’m spending my children’s inheritance.”
We’ve laughed at that for
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Yahoo Finance, June 19, 2008
An improved tool from Uncle Sam is one of the best resources available to help calculate your retirement finances.Most people have the same first question about retirement: How big a nest egg will I need? Two years ago,
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The Motley Fool. June 18, 2008Reverse mortgages -- a way for seniors to tap into their home equity without having to make monthly payments -- have become a mainstream retirement-planning option
in recent years. Despite some drawbacks, for many retirees,
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News 8 Austin, June 16, 2008This article includes a video about scams involving reverse mortgages, which we at NewRetirement strongly encourage you to view.Mr. Finance Guy, you mean there is another scam alert?
John Henry McDonald: Oh yeah, there seems
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Manufactured Housing Global Network, June 16, 2008Reverse Mortgages are becoming popular in
America. The U.S. Department of Housing and Urban Development (HUD) created one
of the first. HUD's Reverse Mortgage is a federally-insured private loan, and
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SFGate, June 16, 2008Ruth Britton enjoys her part-time work as a
college instructor. But, at 69, there are plenty of other things the
Greenbrae resident would like to do - volunteer, write, take classes,
travel.
The problem is, with the cost of living
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SFGate, June 15, 2008Reverse mortgages are being
held out as an excellent way for house-rich but cash-poor seniors to
tap into their equity without having to sell and move. And they may
well be a good choice for some people. But there are other options
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YahooNews, June 11, 2008For the first time, U.S. life expectancy has surpassed 78 years, the
government reported Wednesday, although the United States continues to
lag behind about 30 other countries in estimated life span.
The increase is due mainly
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The New York Times, June 10, 2008 The people who created this country built a moral structure around
money. The Puritan legacy inhibited luxury and self-indulgence.
Benjamin Franklin spread a practical gospel that emphasized hard work,
temperance and
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CNNMoney, June 5th, 2008Americans' net worth falls for the second
straight quarter as home and stock prices decline, but it may not hurt
consumer spending, experts say.Americans saw their net worth decline by $1.7 trillion in the first
quarter - the
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Forbes, June 6th, 2008The distinguished voice
on the radio advertisement pitching reverse mortgages has a familiar
ring: Yes, that's James Garner, the venerable television and film actor.
Garner, in ads for a lender, touts reverse mortgages as an option
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Sacbee, June 4th, 2008Pressured by a faltering economy and often burdened by loans they
took out during the housing boom, more Sacramento-area homeowners are
looking to reverse mortgages for an escape route. But many are finding
the road blocked by
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The New York Times, June 4th, 2008Red wine may be much more potent than was thought in extending human
lifespan, researchers say in a new report that is likely to give
impetus to the rapidly growing search for longevity drugs.
The study is based on
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Tennessean, June 3rd, 2008After a long binge of borrowing, U.S. consumers face a credit crunch
and a sagging economy. To sustain their living standards, many
Americans are doing what comes naturally: scrambling to raise more cash.As
consumers max out
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Seeking Alpha, June 1st, 2008Book review: While America Aged by Roger LowensteinWhere
were you while America aged? I’ve been following the issues in this
book written by Roger Lowenstein for over 20 years. As an actuary (but
not a pension actuary)
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The New York Times, June 1st, 2008WHEN Brandt and Tiffany Schneider put their brick colonial on the
market for $1.2 million last April, they had every reason to be
optimistic. The home, three years old and in a suburban neighborhood
here, features
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