The U.S. Social Security Trust Funds will be exhausted in 2036, and Medicare HI (hospital insurance) Trust Funds will reach exhaustion in 2024, according to a report released last week by the Social Security and Medicare Board of Trustees. The Social Security projection is one year sooner than previously estimated, and for Medicare the projection […]
Some seniors are opting to stay in their homes and wait for their home equity to return, rather than moving on to senior living facilities, says a recent report from a Massachusetts newspaper. Several assisted living and senior housing facilities have recorded low occupancy levels due to the economic downturn and a trend in seniors […]
Department of Housing and Urban Development Secretary Shaun Donovan testified before the Senate Banking Committee last week, urging the committee to reintroduce housing counseling funding that was cut as part of the budget deal passed in April. As a result of the funding cuts, the housing counseling expense will fall on seniors looking to take […]
New medical guidelines issued this month by the National Institute on Aging and the Alzheimer’s Association divide Alzheimer’s Disease into three separate stages based on recent and substantial evidence that it begins taking hold of the brain well before the symptoms of dementia, the New York Times reports. The guidelines will lead to an earlier […]
The expected retirement age for Americans has increased to 66 in 2011 from 65 in 2010, says a recent Gallup poll. Over the past 10 years, the expected age has gone up successively, from 63 in 2002 to 66 today, peaking slightly in 2006 and dipping back to 64 before the economic crisis (see chart […]
Chicago Mayor Richard Daley dedicated a building last week for the city’s 3.5-acre Roseland Senior Campus, which offers supportive living, independent living and intergenerational housing for grandparents raising their grandchildren. The second building in the Pathway Senior Living campus, dedicated by Mayor Daley, is the Roseland Place Senior Apartments, a 60-unit affordable rental housing development with […]
Cities may enhance the experience provided by traditional senior living communities, says a recent Harvard Business Review column. The column, titled “Cities Are the Answer: What Was the Question?” totes some of the major advantages to city living for people in their senior years. “Consider senior care,” the column says. “Over the past thirty years, […]
Forty-four percent of baby boomers express little or no faith they’ll have enough money to retire, a recent poll says. And one in four who are still working say they’ll never retire. The Associated Press-LifeGoesStrong.com poll states that many baby boomers, while they are starting to retire, are agonizing about finances and expect they will […]
The U.S. Department of Health and Human Services announced last week the release of $311 million in grants to help low-income homeowners and renters meet home energy costs under the Low-Income Home Energy Assistance Program (LIHEAP). Currently, HHS is directed to release those funds to states, territories, tribes and the District of Columbia. The assistance […]
Financial concerns are mounting for seniors, according to a GreenPath Debt Solutions survey. Recently released data from GreenPath interviewing 57,000 seniors ages 55 and older, shows 38% of respondents say “reduced income” is their main source of financial hardship. Another 29% say “no financial plan” is their leading hardship, and for 12%, medical issues are […]
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