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Volume 2 - Issue 2

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In this Issue:

Average Cost of Nursing Home
Asset Risk of Older Americans
Disaster Relief Tax Tips
Grandparent Scam Hits Seniors
Tips to Keep Seniors Warm
Newsbytes
Save on Utility Expenses
Poetry
Legacy Spotlight
Crossword Puzzle/Sodoku!

Average Cost of a Nursing Home Inches Closer to $80,000 a Year

Courtesy of www.ElderLawAnswers.com

Unlike other sectors of the U.S. economy, long-term health care providers did not roll back prices in 2009, according to the MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs.

TO READ MORE...

Asset Security and Risk of Older Americans

Courtesy of www.Demos.org for the report titled "Living Longer on Less:
The New Economic (In)Security of Seniors"

For this study. "senior" refers to people 65 and older.

Do older Americans have sufficient financial assets to support a moderate lifestyle duing their remaining years of life (as projected by actuarial estimates)? Demos' asset calculation includes all finanical assets such as savings, stocks, bonds and equity in real estate other than one's own home. In addition to these financial assets, Demos includes the projected income from Social Security, pension and other retirement income over the expected life span for each household (for couples based on the age of the head of household). Home equity is not included in the asset measure because homeownership an home equity are a separate factor of the index. Further, Demos does not want to incorporate an assumption that families must sell their homes to provide for essential living expenses.

TO READ MORE...

Disaster Relief Tax Tips:

Disaster relief payments may not be taxable

By Steven Leibold, Enrolled Agent

Did you know...?

Qualified disaster relief payments you receive for expenses you incurred as a result of a presidentially declared disaster are not taxable income to you.

TO READ MORE...

Grandparent Scam Hits Local BC Seniors

Although this story comes from Canada, this type of scam can happen anywhere, so watch out!

The Better Business Bureau had recently received reports about grandparents in areas across British Columbia who thought they were aiding their grandchildren by providing money for an emergency situation, but were in fact giving thousands of dollars to con artists.

TO READ MORE...

Department of Aging Provides Tips to Keep Seniors Safe and Warm This Winter

The following information is from the Illinois Department on Aging but can be attributed to all states feeling the wrath of winter this year.

Illinois Department of Aging Director Charles D. Johnson is encouraging older people and their families to recognize that winter poses a special threat to seniors.

TO READ MORE...

NewsBytes

On January 13, 2010, the Department of Labor announced $150 million in "Pathways Out of Poverty" grants, as authorized by the American Recovery and Reinvestment Act of 2009. The grants will support programs that help disadvantaged populations find ways out of poverty and into economic self-sufficiency through employment in energy efficiency and renewable energy industries. www.dol.gov.

TO READ MORE...

Senior Discounts Site Finds Ways for Senior Citizens to Save on Energy and Utility Expenses:

Discounts Found for Gas, Electric and City Utilities

by David Smidt www.SeniorDiscounts.com

The average annual energy bill for a single family home in the United States is $2,200. This cost can be quite a burden, especialy for fixed-income households and when coupled with greater gas prices for automobiles and increasing prices on many consumer goods. There are programs to help older people with the cost of energy bills - you just need to know where to look.

TO READ MORE...

Poetry Page

Croak

by David Welsch

It's quite an interesting life I've led
A very handsome prince, it's been said
My father, the king, always kept me in favor
My younger brother this life couldn't savor
He thought he should be
In line to rule, instead of me...

TO READ MORE...

scales of justice The Legacy Spotlight

Inheritance and Your Children

by Sean Robertson, Wealth Preservation Attourney

This month's article comes to me because two adult children of seniors have called me with one concern:  their parents and their parents' assets. Both of the adult children were concerned about their parents' health and both were concerned that their parents' legal affairs be properly set up.

TO READ MORE...

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