News, Information and Guidance

The Ellusive source of Alzheimer’s

Alzheimer’s Disease is one of the scariest diseases in the book, and unsurprisingly, a major concern of seniors, as well as those who expect to live as long.  The search for conclusive proof as to the cause, or even for contributing factors, has been long and more or less fruitless.  Today, Reuters reports that a…

Republican Medicare plan is off the table

It appears in recent days that the House republicans have been backing down on their proposed plan for replacing Medicare with a voucher-based system to control the spiraling costs of the federal program.  While this is probably a move designed to enable a deal to be worked out over the impending debt ceiling increase, it…

Early Retirement and Health Insurance

Admittedly, not as many people are retiring early nowadays, but for those who are, one of the biggest challenges is finding affordable ways of getting health insurance.  Almost no companies offer continuing health insurance benefits to retirees anymore, so until you reach the age of 65 and the protection of Medicare, you are unlikely to…

Balancing Saving and Expenses

Working people today are stretched.  Most of us know that saving for retirement is important, and might have even heard the figures about the “optimal savings rate” (usually posited at around 10% of take-home pay).  But knowing what we would be saving in a perfect world is one thing.  Being able to actually save that…

Is inflation back?

The government uses an index of prices to determine whether inflation is occurring, and if so how much.  As can be imagined, there is a great deal of debate as to what commodities and goods are represented on that index, even in good times.  Right now however, with gas and food prices spiraling upwards without…

Congressional Report slams AARP for profiteering and conflict of interest

The House of Representative’s Ways & Means committee released a report today slamming AARP as an organization that manipulates seniors for their own personal benefit.  In it, the authors discuss AARP’s status as one of the largest insurance companies in the country, and the fact that their for-profit activities dwarf all of their non-profit and…

Disaster Preparedness for Seniors

If you have reached retirement age, you have probably witnessed or even experienced the devastating effects of an earthquake, hurricane, fire, tornado or flood. Now imagine dealing with the disaster as you age. The odds are that you may move or even think just a little bit slower now than when you were younger, which…

Considering a Reverse Mortgage? Sign Up for Your Reverse Mortgage Counseling Now

The newly passed federal budget cuts $88 million that was to be used for loan counseling – including Reverse Mortgage counseling — programs. A Reverse Mortgage counseling session is a requirement of securing a Reverse Mortgage and is intended to help the borrower understand the loan and alternatives to a Reverse Mortgage. After September of…

The Top 3 Retirement Fears

AARP recently polled 1000 older adults about their biggest retirement worries. The top three concerns are: Health Care: While maintaining health is a concern, paying for health care was listed as the top worry for seniors. And there is good reason for the anxiety. Research estimates that the out of pocket healthcare costs for a…

New Retirement for a New Age!

Marc Freedman has defined a new norm for retirement in his new book, The Big Shift.  He defines a new period of life – in your 60s and 70s — that occurs between middle age and old age.  And he writes that most people will spend at least some of this time working – either…

Poll reveals the struggles of older Americans

The National Council on Aging has released the data from a Poll of seniors called the One Away Poll, to investigate how senior citizens have been coping with the economic downturn. The results are about what we at NewRetirement have expected.  Some two thirds of respondents are either having a hard time making ends meet,…

Tips to Makes Taxes Less Taxing

The New York Times’ “The New Old Age” blog offered some money saving tax tips for seniors: Medical Deductions: Few people can make medical deductions when they are younger, but due to increased medical expenses and decreased income, many more seniors are eligible.  If your allowable medical expenses are greater than 7.5 percent of your…

Tea Party Takes on Social Security

Up until now, both parties have been reluctant to target entitlement programs such as Social Security and Medicare for cuts.  Recently, however, many new Republicans have begun to talk about reducing benefits for future or even current retirees. The article explains just who is making these claims, and what they think should be done with…

A Reverse Mortgage Case Study from the New York Times

While not for everyone, the New York Times documented a good example of someone who should very much consider a Reverse Mortgage.  The article also highlights the difficulties facing retirees who: have debt, are single or are female.  What are you worried about in retirement?          Read “A Homeowner With No Savings, but Some Options”…

Should the Federal Government Really Be Subsidizing Early Retirement Health Care Costs?

US News and World Report reported that the federal government is paying out $535 million to reimburse employers who offer retired employees continued health insurance.  State and local governments were the biggest recipients of these monies. What do you think about this benefit? Is early retirement supplemented by the government a virtue or a resource…

Anger brews over government workers’ benefits

AP Newswire, March 8th, 2011 Pension Envy!  The Next Big Fight/Debate!? You have probably read about the brouhaha in Wisconsin over pensions.  More and more state and local governments find that they are not able to pay for benefits that public employees have been promised. A recent article from the Associated Press, “Anger brews over…

Reverse Mortgage Origination Fees Make a Comeback

Reverse Mortgage Daily, February 16th, 2011 With the recent increase in reverse mortgage rates and lower premiums from the secondary market, originators are are finding it increasingly difficult to make enough on their loans without charging an origination fee. In past years, brokers saw back end pricing increase and were able to pass some of that…

In a Graying Population, Business Opportunity

The New York Times, February 6th, 2011 IT’S not easy being gray. For the first time ever, getting out of a car is no picnic. My back is hunched. And I’m holding on to handrails as I lurch upstairs. I’m 45. But I feel decades older because I’m wearing an Age Gain Now Empathy System,…

8 Miami-Dade County nurses prison-bound for fraud

Miami Herald, February 5th, 2011 Eight Miami-Dade County nurses have been sentenced to prison and ordered to pay restitution for helping two agencies fleece millions from Medicare. The nurses worked for two home health care agencies, ABC Home Health and Florida Home Health Care Provider. According to the Justice Department, each of the eight nurses…

HMBS as “Holy Grail” of Fixed-Income Securities

Reverse Vision, January 31st, 2011 Before the mortgage-sparked national and global financial tsunami of 2008 which swept it and others into the rubbish of financial history, Lehman Brothers’ prowess in mortgage securitization (and all things mortgages) was the envy of Wall Street. For reverse mortgages, in the days when Fannie Mae was the sole buyer…

For Many Entrepreneurs, Life Begins at 50

MSN news, January 30th, 2010 There’s a lot of chatter these days about how eagerly Gen Y is embracing entrepreneurship. But you don’t hear nearly as much about the other demographic that’s also pursuing business ownership, driven more by purpose than passion.   There’s been a surge of people aged 50-plus starting businesses, and it’s…

Retirements Swallowed by Debt

The New York Times, January 26th, 2011 Bill Freedman, 86, felt financially secure. He had a comfortable income from Social Security, an I.R.A., investments and an inheritance. But when he took a fall last October, his daughter, Nancy Freedman, went to his Manhattan apartment and found several credit cards piled up in a desk drawer….

SMART MONEY: No need to file, they already are bankrupt

The Oakland Press, January 27th, 2011 DEAR BRUCE: My parents, both 80, have lived for years on their credit card, running up the balance and paying it off every month. This works great when you have ample income to cover it. For whatever reasons, they have no investment income left and are living on retirement…

The Financial Nightmares Facing Boomers

Yahoo Finance, January 16th, 2011 This month, the first baby boomers officially reached retirement age, and they’re in a gloomy mood. A Pew Research Center survey last month found that 80 percent of the nation’s 79 million boomers are dissatisfied with the way things are going today — more than members of any other age…

5 Reverse Mortgage Scams

Financial Edge, January 21st, 2011 Staying vigilant against computer scams and other fraud has become a natural part of life for many consumers, yet scams are successfully perpetrated every day. One reason: Individuals who intend to commit fraud have become more creative than ever, and they choose their targets with care. One group of people…