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Tag: Seniors

  • Single, no pension? Here’s how to plan for retirement in Canada – MoneySense

    Single, no pension? Here’s how to plan for retirement in Canada – MoneySense

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    • Canada Pension Plan (CPP) deferral: CPP deferral is worth considering for any healthy senior in their 60s. If you live well into your 80s, you may collect more pension income than if you start CPP early, even after accounting for the time value of money and the ability to invest the earlier payments or draw down less of your investments. CPP deferral can protect against the risk of living too long, especially for a single retiree, and particularly for women, who tend to live longer than men. CPP can be deferred as late as age 70. The benefit increases by 8.4% per year after age 65, plus an annual inflation adjustment.
    • Old Age Security (OAS) deferral: Like CPP, deferring OAS can be beneficial for seniors who live well into their 80s. One exception is low-income seniors who might qualify for the Guaranteed Income Supplement (GIS) between 65 and 70. Single seniors aged 65 and older, whose income is less than about $22,000, may qualify. OAS can be deferred as late as age 70. The benefit increases by 7.2% per year after age 65, plus an annual inflation adjustment.
    • Annuities: Almost everyone wants a pension, yet almost no one is willing to buy one. You can buy an annuity from a life insurance company using non-registered or registered (ie. RRSP) savings. (What is a non-registered account? How does it work?) Based primarily on your age and resulting life expectancy, an insurer will pay you an immediate or deferred monthly amount for life—even if you live until 110. If interest rates are higher when you buy an annuity, the monthly payment amount may be slightly higher as well. If you don’t have a pension and you want the security of a monthly payment, an annuity can be worth considering. Especially if you’re in good health and are a conservative investor.

    Survivor benefits in Canada

    Most DB pension benefits are payable only to surviving spouses. Some pensions have survivor benefits for children or a guaranteed number of months of payments to an estate.

    A CPP survivor pension can be paid to the spouse or common-law partner of a deceased contributor. Single retirees are somewhat disadvantaged since their children will usually not qualify for a benefit if they die.

    Children’s benefits are only payable if a surviving child is under 18, or if they are attending full-time post-secondary education and are between 18 and 25.

    Advice, accountability and cognitive decline

    One of the challenges everyone faces as they age is making sound financial decisions. Our experience and knowledge may increase as we age but our ability to process complex decisions tends to begin declining before we retire.

    Single seniors don’t have a partner to bounce ideas off, so many may find themselves stressed about retirement and financial planning. And not everyone feels comfortable talking about money with their children and friends, and not everyone has a financial advisor, either. (Use the MoneySense Find a Qualified Advisor Tool to find an advisor near you.)

    Partners, adult children and friends can provide accountability, as well with spending and other financial decisions and keep each other in check.

    A single retiree can certainly be successful, but the challenges they face are different from that of couples.

    For these reasons, being conservative, deferring pensions, considering annuities, seeking financial advice, and proactively planning are all strategies to consider when planning for retirement as a one-person household—especially if you have no pension plan.

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    Jason Heath, CFP

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  • Sizzling sidewalks, unshaded playgrounds pose risk for surface burns over searing Southwest summer

    Sizzling sidewalks, unshaded playgrounds pose risk for surface burns over searing Southwest summer

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    PHOENIX — Ron Falk lost his right leg, had extensive skin grafting on the left one and is still recovering a year after collapsing on the searing asphalt outside a Phoenix convenience store where he stopped for a cold soda during a heat wave.

    Now using a wheelchair, the 62-year-old lost his job and his home. He’s recovering at a medical respite center for patients with no other place to go; there he gets physical therapy and treatment for a bacterial infection in what remains of his right leg, too swollen to use the prosthesis he’d hoped would help him walk again.

    “If you don’t get somewhere to cool down, the heat will affect you,” said Falk, who lost consciousness due to heat stroke. “Then you won’t know what’s happening, like in my case.”

    Sizzling sidewalks and unshaded playgrounds pose risks for surface burns as air temperatures reach new summertime highs in Southwest cities like Phoenix, which just recorded its hottest June on record. The average daytime high was 109.5 degrees Fahrenheit (43 Celsius), without a single 24-hour high below 100 (37.7 C).

    Young children, older adults and homeless people are especially at risk for contact burns, which can occur in seconds when skin touches a surface of 180 degrees Fahrenheit (82 C).

    Since the beginning of June, 50 people have been hospitalized with such burns, and four have died at Valleywise Health Medical Center in Phoenix, which operates the Southwest’s largest burn center, serving patients from Arizona, New Mexico, Utah, Nevada, Southern California and Texas, according to its director, Dr. Kevin Foster. About 80% were injured in metro Phoenix.

    Last year, the center admitted 136 patients for surface burns from June through August, up from 85 during the same period in 2022, Foster said. Fourteen died. One out of five were homeless.

    “Last year’s record heat wave brought an alarming number of patients with life-threatening burns,” Foster said of a 31-day period, including all of last July, with temperatures at or above 110 degrees (43 C) during Phoenix’s hottest summer ever.

    In Las Vegas, which regularly sees summer-time highs in the triple-digits, 22 people were hospitalized in June alone at the University Medical Center’s Lions Burn Care Center, said spokesperson Scott Kerbs. That’s nearly half as many as the 46 hospitalized during all three summer months last year.

    As in Phoenix, the desert sun punishes Las Vegas for hours every day, frying outdoor surfaces like asphalt, concrete and metal doors on cars and playground equipment like swings and monkey bars.

    Surface burn victims often include children injured walking barefoot on broiling concrete or touching hot surfaces, adults who collapsed on a sidewalk while intoxicated, and older people who fell on the pavement due to heat stroke or another medical emergency.

    Some don’t survive.

    Thermal injuries were among the main or contributing causes of last year’s 645 heat-related deaths in Maricopa County, which encompasses Phoenix.

    One victim was an 82-year-old woman with dementia and heart disease admitted to a suburban Phoenix hospital after being found on the scorching pavement on an August day that hit 106 degrees (41.1 C).

    With a body temperature of 105 degrees (40.5 C) the woman was rushed to the hospital with second-degree burns on her back and right side, covering 8% of her body. She died three days later.

    Many surface burn patients also suffered potentially fatal heat stroke.

    Valleywise hospital’s emergency department recently adopted a new protocol for all heat-stroke victims, submerging patients in a bag of slushy ice to quickly bring down body temperature.

    Recovery for those with skin burns was often lengthy, with patients undergoing multiple skin grafts and other surgeries, followed by months of recovery in skilled nursing or rehabilitation facilities.

    Bob Woolley, 71, suffered second- and third-degree burns to his hands, arms, leg and torso after he stumbled onto the broiling backyard rock garden at his Phoenix home, wearing only swim trunks and a tank top.

    “The ordeal was extremely painful, it was almost unbearable,” said Woolley, who was hospitalized at the Valleywise burn center for several months. He said he considers himself “95% recovered” after extensive skin grafts and physical therapy and has resumed some former activities like swimming and motorcycle riding.

    Some skin-burn victims, both in Phoenix and Las Vegas, were children.

    “In many cases, this involves toddlers walking or crawling onto hot surfaces,” Kerbs said of those hospitalized at the Las Vegas center.

    Foster said about 20% of the hospitalized and outpatient skin-burn victims seen at the Phoenix center are children.

    Small children aren’t fully aware of the harm a sizzling metal door handle or a scorching sidewalk can cause.

    “Because they’re playing, they don’t pay attention,” said urban climatologist Ariane Middel, an assistant professor at Arizona State University who directs the SHaDE Lab, a research team that studies the effects of urban heat.

    “They may not even notice that it’s hot.”

    In measuring surface temperatures of playground equipment, the team found that in 100-degree Fahrenheit (37.7 C) weather without shade, a slide can heat up to 160 degrees (71.1 C), but a covering can bring that down to 111 degrees (43.8 C). A rubber ground cover can hit as high as 188 degrees (86.6 C), a handrail can heat up to 120 degrees (48.8 C) and concrete can reach 132 degrees (55.5 C).

    Many metro Phoenix parks have covered picnic tables and plastic fabric stretched over play equipment, keeping metal or plastic surfaces up to 30 degrees cooler. But plenty do not, Middel said.

    She said cooler wood chips are better underfoot than rubber mats, which were designed to protect kids from head injuries but soak up heat in the broiling sun. Like rubber, artificial turf gets hotter than asphalt.

    “We need to think about alternative surface types, because most surfaces we use for our infrastructure are heat sponges,” Middel said.

    Hot concrete and asphalt also pose burn risks for pets.

    Veterinarians recommend dogs wear booties to protect their paws during outdoor walks in summer, or keeping them on cooler grassy areas. Owners are also advised to make sure their pets drink plenty of water and don’t get overheated. Phoenix bans dogs from the city’s popular hiking trails on days the National Weather Service issues an excessive heat warning.

    Recovering at Phoenix’s Circle the City, a respite care facility he was sent to after being released from Valleywise’s burn unit, Falk said he never imagined the Phoenix heat could cause him to collapse on the broiling asphalt in his shorts and T-shirt.

    Because he wasn’t carrying identification or a phone, no one knew where he was for months. He has a long road ahead but still hopes to regain part of his old life, working for a concessionaire for entertainment events.

    “I kind of went into a downward spiral,” Falk acknowledged. “I finally woke up and said, ’Hey, wait, I lost a leg.’ But that doesn’t mean you’re useless.”

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  • Key Information For The 60+ About Marijuana

    Key Information For The 60+ About Marijuana

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    It is a big summer for the cannabis industry – will Boomers join Gen Z in embracing marijuana?

    It is the summer of cannabis with the potential for rescheduling.  Both the Food and Drug Administration (FDA) and Health and Human Services (HHS) has recognized marijuana has medical benefits and is not a dangerous drug. The American Medical Association also recognized it can help patients and they and research show it is better for you than alcohol.  Gen Z has started moving away from alcohol (mainly beer) and embracing cannabis.  With all these changes – here is key information for the 60+ about marijuana in today’s world.

    RELATED: What Is California Sober

    There are two uses for cannabis – recreational (fun stuff) and medical. Even though a little high has never hurt anybody, you don’t have to get high to benefit from medical marijuana. Effective medicinal CBD strains contain small amounts of THC. These strains focus their efforts on the therapeutic side of the plant, producing little to no psychoactive effect.

    The other interesting update is the days of smoking cannabis tends to be waning. it is used more by the aficionado and the old school consumers.  Today, most users have used a vape or a gummy. You can manage dosing better, they are discreet and you take it to events without the smell.  Gen Z has truly embrace the on-the-go aspect of today’s marijuana.

    Photo by rawpixel.com

    With aging, bodies start to deteriorate in every way, leading to some pain and discomfort. Seniors are more prone to experience inflammation, mental and bone health issues and high blood pressure. Evidence and studies show cannabis is a good way of providing some relief, especially in the chronic pain area.

    One of the most common wellness ways cannabis is used is for sleep. Like most natural medicines, it needs to be taken occasionally, but enough to change your sleep patterns. With the correct dosage, it can increase total sleep time and decrease the frequency of arousals during the night.

    Another key issue is anxiety. Some people use marijuana to cope with anxiety, especially those with social anxiety disorder. THC appears to decrease anxiety at lower doses and increase anxiety at higher doses. Studies has shown CBD appears to decrease anxiety at all doses.

    In the fun category, marijuana is healthier than alcohol and can make experiences much more vibrant and alive. Science shows listening to music, watching a movie, or just looking at scenery is more vibrant.  Part of the reason is while on THC, is slows the “memory search part” of the brain and allows it to focus on the moment. Also, cannabis and cannabis creams can help in the intimacy department, sometimes reopening a door which might have been closed.

    RELATED: 6 Ways Cannabis Can Improve The Life Of Seniors

    There needs to be an awareness on the possible effect marijuana can have with common medications taken by older adults. A review published in the Journal of the American College of Cardiology says that marijuana can interact with common heart medications, such as statin and blood thinners. Marijuana use can alter the time in which these medications have an effect and could also result in bleeding.

    People should also avoid pairing marijuana with anti-seizure medications or any other substance that produces strong effects. If having surgery, it’s important for older adults to disclose marijuana use to doctors, even including the use of CBD. The compound has also been linked with altering the way in which the liver processes dosages in medications.

    RELATED: Survey: Seniors In Pain Want To Try Cannabis, But This Is Preventing Them

    Like alcohol, cannabis can make you a bit unstable on your feet. Using either could result in dizziness and in feeling out of control of your body. This in turn could increase the risk of falling and getting involved in all sorts of accidents. Falls pose serious risks for seniors, with 1 out of 5 resulting in a head injury or broken bones. The good news, if done right, cannabis makes you chill.

    How CBD Helps Seniors Exercise
    Photo by Caiaimage/Trevor Adeline/Getty Images

    According to a study published in the journal Gerontology and Geriatric Medicine, like with alcohol, older marijuana users are more likely to experience depression than non-users. While it’s not know exactly why this occurs, it’s likely a combination of things; these users might be taking cannabis instead of seeking medical help, or maybe cannabis is interacting with the medications they’re already taking in ways that are not beneficial.

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    Amy Hansen

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  • Disruptions at University of Chicago graduation as school withholds 4 diplomas

    Disruptions at University of Chicago graduation as school withholds 4 diplomas

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    CHICAGO — Dozens of students protesting the war in Gaza walked out of the University of Chicago’s commencement Saturday as the school withheld the diplomas of four seniors over their involvement with a pro-Palestinian encampment.

    The disruption to the rainy two-hour outdoor ceremony was brief, with shouts, boos and calls to “Stop Genocide.” A crowd of students walked out between speeches, and a demonstration followed the official ceremony. Some chanted as they held Palestinian flags, while others donned traditional kaffiyeh, black and white checkered scarves that represent Palestinian solidarity, over their robes.

    Four graduating seniors, including Youssef Haweh, were informed by email in recent days that their degrees would be withheld pending a disciplinary process related to complaints about the encampment, according to student group UChicago United for Palestine.

    “My diploma doesn’t matter when there are people in Palestine and in Gaza that will never walk a stage again, who will never receive a diploma. What about them? Who’s going to fight for them?” Haweh said in a Saturday statement.

    University officials acknowledged the walkout, saying the school is “committed to upholding the rights of students to express a wide range of views,” according to a statement.

    Students have walked out of commencements at Harvard University, the Massachusetts Institute of Technology and others as protest camps have sprung up across the U.S. and in Europe in recent weeks. Students have demanded their universities stop doing business with Israel or companies they say support its war in Gaza. Organizers seek to amplify calls to end Israel’s war with Hamas, which they describe as a genocide against the Palestinians.

    A small demonstration after the commencement, where protesters tried to access a closed street, resulted in the arrest of one person not affiliated with the school, university officials said in a statement.

    The University of Chicago encampment was cleared May 7. Administrators had initially adopted a permissive approach, but later said the protest had crossed a line and caused growing concerns about safety. One group temporarily took over a building on the school’s campus.

    University officials have said the demonstrations prompted formal complaints including for “disruptive conduct,” and would require further review. The students were still able to participate in graduation, and can receive their degrees if they are later cleared after the university inquiry into alleged violations of campus policy. The university didn’t have comment Saturday about the diplomas.

    Thousands of students and faculty members have signed a petition calling for the university to grant the degrees, while more than a dozen Chicago City Council members have penned a letter asking for the same.

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  • Some older Americans splurge to keep homes accessible while others struggle to make safety upgrades

    Some older Americans splurge to keep homes accessible while others struggle to make safety upgrades

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    NEW YORK — Brenda Edwards considers the four bedroom ranch-style house where she has lived for 20 years her forever home. It’s where the 70-year-old retired nurse and her 79-year-old husband want to stay as their mobility becomes more limited.

    So she hired an interior designer for $20,000 and spent another $95,000 to retrofit their house in Oakdale, California. She had the kitchen aisles widened to accommodate a wheelchair in case she or her husband ever need one. The bathroom now has a walk-in steam shower and an electronic toilet seat that cleans the user when activated.

    “We felt comfortable,” Edwards said in explaining why the couple decided to invest in the property instead of downsizing. “We have a pool. We have a spa. We just put a lot of love and effort into this yard. We want to stay.”

    Even if they wanted to move, it wouldn’t make financial sense, Edwards said. Their house is almost paid for, and “it would be too hard to purchase anything else,” she said.

    Like Edwards and her husband, a vast majority of adults over age 50 prefer the idea of remaining in their own residences as long a possible, according to an Associated Press-NORC Center for Public Affairs Research poll. But staying put is becoming less of a choice. Some baby boomers and older members of Generation X are locked into low mortgage rates too good to give up. Skyrocketing housing prices fueled by lean supply further complicate the calculations of moving house.

    Despite feeling tied down, a subset of these older adults have enough extra cash to splurge on upgrades designed to keep their homes both enjoyable and accessible as they age. The demand for inconspicuous safety bars, lower sinks, residential elevators and other amenities has given home improvement chains, contractors, designers and architects a noticeable lift.

    Home Depot, the nation’s largest home improvement chain, is revamping its Glacier Bay brand to include sleeker grab bars and faucets that are easier to use. Rival Lowe’s created a one-stop shop in 2021 that offers wheelchair ramps, teak shower benches, taller toilets and other products geared toward older boomers.

    “They aspire for bathrooms that exude beauty and elegance, with essential accessibility features seamlessly integrated,” Lowe’s Trend and Style Director Monica Reese said of the target customers.

    Toto USA, a subsidiary of a Japanese company that introduced a luxury bidet toilet seat in 1980, markets the bathroom fixture to older people by saying it can help prevent urinary tract infections and reduce the burden on caregivers.

    Toto USA research showed a 20 percentage point spike in ownership of the Washlet seats among consumers ages 46-55 between early 2020 and the end of last year. The increase indicates customers are thinking ahead, said Jarrett Oakley, the subsidiary’s director of marketing.

    “The growing older demographic is more knowledgeable about renovations and planning for their future needs, especially as they prepare to age in place,” Oakley said. “They’re looking to future-proof their homes thoughtfully and with a focus on luxury.”

    Wendy Glaister, an interior designer in Modesto, California, who worked with Edwards, reports more clientele in their late 50s and early 60s remodeling their homes for the years ahead. The typical bathroom renovation in California costs $45,000 to $75,000, she said.

    “Your home is your safe place,” Glaister said. “Your home is where you hosted your family for holidays.”

    The need to age-proof properties will become more urgent in the decade ahead. By 2034, people age 65 and older are expected to outnumber those under age 18 for the first time in U.S. history, according to a U.S. Census report revised in 2020.

    But the issue has exposed a divide between well-heeled and lower-income boomers regarding their ability to remain in place safely.

    Cathie Perkins, 79, a retired teacher who has chronic fatigue syndrome, had a local non-profit group modify the first-floor apartment she owns in Beaverton, Oregon. The changes, which cost about $3,000, included replacing her tub shower with a walk-in version and installing a higher toilet.

    Perkins values her independence and said retirement facilities are beyond her means. “I am on a fixed income,” she said. “I have Social Security, and I have a pension.”

    According to a 2023 analysis of the 2011 American Housing Survey by the Joint Center for Housing Studies of Harvard University, less than 4% of U.S. homes combine single-floor living with no-step entry, and halls and doorways wide enough for wheelchairs.

    The Harvard center analysis found that 20% of survey respondents age 80 and above with incomes below $30,000 reported accessibility challenges, compared to 11% for those with incomes of $75,000 or more.

    Jennifer Molinsky, director of the center’s Housing an Aging Society program, urges policymakers to address the shortage of affordable housing that’s a good fit for older adults.

    “There are all these options for those people who have a lot of money,” Molinsky said. “But there’s a lot of disparity. There are people, through no fault of their own or for systemic reasons, who may not have the money to modify.”

    Gene Carr, 67, and Sallie Carr, 65, have lived in their two-story, four-bedroom house in Henderson, North Carolina, for 27 years. The married couple had the money and vision to renovate in August 2022, hoping to stay in their home for at least another 20 years.

    They hired builders to put a master bedroom and a bathroom on the first floor, both wheelchair-accessible. As the project neared completion a year ago, Gene Carr had a minor stroke that he describes as a “wake-up call.” His condition has improved, but the renovations make it easier to deal with ongoing balance issues, Carr said.

    “We’ve got two pets that are old, and they don’t like going up and downstairs anymore either,” he said.

    As retailers respond to the discomfort with aging itself in U.S. culture, Nancy Berlinger, a senior research scholar at the Hastings Center in Garrison, New York, who collaborates with Molinsky, encourages future home renovators to stay open-minded.

    “We’ve all learned to love OXO Good Grips utensils and other simple, practical designs that work, so we can learn to love grab bars, too,” she said.

    ___

    Follow AP’s coverage of wellness, fitness, diet and mental health at https://apnews.com/hub/be-well

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  • Carepool Makes Rideshare Traction in the Twin Cities for Aging Adults and People With Disabilties

    Carepool Makes Rideshare Traction in the Twin Cities for Aging Adults and People With Disabilties

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    Carepool makes rideshare traction in the Twin Cities by acquiring Mobility4All. All of the current riders have had a smooth transition and will now enjoy expanded business hours (6 a.m.-12 a.m. to start). Carepool will start providing rideshare services on Monday, April 8. 

    Carepool was founded in Madison, Wisconsin, in 2018 by CEO Josh Massey, specializing in providing rideshare services to aging and disabled adults.

    Massey has purchased the Twin Cities-based Mobility4All accessible ride service. Its motto is: Providing hand-to-hand and door-thru-door trips for people who want or need a higher level of care. This fits Carepool’s philosophy while adding more technology in the process, like real-time text messaging. With the purchase of Mobility4All, Carepool will be providing rideshare services in eight states.

    Mobility4All’s customers are able to use Carepool immediately with no lapse in services. Riders will be able to call and book their rides as they have, with the ability to book through the web app. Carepool created rideshare-like technology with the State of Wisconsin’s health and human services departments, focusing on the needs for people with disabilities and older adults. Its model solved rural and wheelchair transportation gaps. 

    “As I spoke with someone from the State of Wisconsin about having a rideshare service in this space, I thought adding an ‘e’ to the word ‘carpool’ seemed to fit well for company’s name,” Massey said. “At Carepool, we truly care.”

    Massey’s inspiration to start a rideshare company came when he lived in Chicago and owned a technology consulting company. Rideshare was a game changer, but some experiences were much better than others. Massey envisioned a way to expand the technology with caring drivers across the Midwest. Rideshare would help aging adults and passengers with special needs, including his grandmother who lived in rural Wisconsin and faced challenges visiting his grandfather in a memory care facility.

    “It hit close to home when I heard my 90-year-old grandmother was on Medicaid and taking long bus rides to see my grandfather for an hour, making for seven exhausting hours of travel,” Massey said. “I thought, why can’t we tweak the rideshare model to also serve those in rural and suburban areas?” 

    What sets Carepool apart is its software platform that allows for recurring rides, designed to sync directly to drivers’ calendars and with Medicaid/Medicare programs and insurance payers, as well as hospital systems, offering “door-through-door service.” Passengers’ special needs are saved to their profile so drivers will know how to handle each customer’s unique situation. 

    Carepool’s drivers are able to assist customers inside their home or medical facility with getting into the rideshare vehicle. Carepool’s pay rates provide more earning power for its drivers, which includes a set customer pickup rate and 2x more per mile compared to other rideshares in the Twin Cities area.

    “Helping others, making a livable wage and having that caring profile is what really matters for Carepool,” Massey added.

    Customers can call Carepool at 1-833-268-2688 to order services or go to www.carepool.us/riders to log into the app and order rides. Drivers can go to www.carepool.us/drivers for more information about how to apply. 

    Watch Laura’s testimonial video and find out why she’s happy with Carepool’s Rideshare services. 

    Source: Carepool

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  • In Taiwan, a group is battling fake news one conversation at a time — with a focus on seniors

    In Taiwan, a group is battling fake news one conversation at a time — with a focus on seniors

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    TAIPEI, Taiwan — Their days often began at the crack of dawn.

    They’d head out to a church, a temple, a park and set up a stall. They’d seek out seniors in particular, those who are perhaps the most vulnerable citizens of the information-saturated society that has enveloped them. To get people to stop and listen, they’d offer free bars of soap — a metaphor for the scrubbing that they were undertaking.

    They’d talk to people, ask them about their lives and their media consumption habits. They’d ask: How has fake news hurt you? They’d teach techniques to punch through the static, to see the illogic in conspiracy theories, to find the facts behind the false narratives that can sometimes shape our lives.

    Nearly six years later, with just one formal employee and a team of volunteers, Fake News Cleaner has hosted more than 500 events, connecting with college students, elementary-school children — and the seniors that, some say, are the most vulnerable to such efforts.

    Its people are filling up lecture halls and becoming a key voice in an effort as pressing here as anywhere: scrubbing Taiwan of disinformation and the problems it causes, one case at a time.

    Like any democratic society, Taiwan is flooded with assorted types of disinformation. It touches every aspect of a person’s life, from conspiracy theories on vaccines to health claims aimed at promoting supplements to rumors about major Taiwanese companies leaving the island.

    Despite its very public nature, disinformation has a deeply personal impact — particularly among Taiwan’s older people. It thrives in the natural gaps between people that come from generational differences and a constantly updating tech landscape, then enlarges those gaps to cause rifts.

    “They have no way to communicate,” says Melody Hsieh, who co-founded the group with Shu-huai Chang in 2018. “This entire society is being torn apart, and this is a terrible thing.”

    Chuang Tsai-yu, sitting in on a recent lecture by the group in Taipei, once saw a message online that told people to hit their chest in a way that would save them in the case of heart discomfort. She said she actually tried it out herself.

    Later, she asked her doctor about it. His advice: Go directly to the emergency room and get checked for a heart attack.

    “We really do believe the things people will send us,” Chuang says. “Because when you’re older, we don’t have as much of a grasp on the outside world. Some of these scammers, they will write it in a way that’s very believable.”

    Chuang is fortunate: Her son has explained some of the things she sees on her phone — including disinformation about health on the Line app. Not everyone is as lucky, though. When it comes to misinformation, there’s a lot of work to do.

    Taiwan is already home to several established fact-checking organizations. There’s Co-Facts, a well known AI-driven fact-checking bot founded by a group of civic hackers. There are the Taiwan Fact Check Center and MyGoPen. But such organizations presume that you’re at least somewhat tech-savvy — that you can find a fact-check organization’s website or add a fact-checking bot.

    Yet many of the people most affected are the least tech-savvy. Fake News Cleaner believes addressing this gap requires an old-school approach: going offline. At the heart of the group’s work is approaching people with patience and respect while educating them about the algorithms and norms that drive the platforms they use.

    Hsieh says she was moved after seeing too many instances of division because of fake news: a couple that divorced, a mom who kicked her kid out of the house. Many such stories surfaced in 2018 when Taiwan held a national referendum on a number of social issues including on nuclear energy, sex education, and gay marriage.

    At their second-ever event, Hsieh and Chang met a victim of fake news. A vegetable seller told them he’d lost sales because people had read that the vegetable fern he planted and sold, known locally as guomao, caused cancer. Business faded, and the vendor had to sell off part of his land. For a year, even restaurants didn’t order from him.

    Keep up the work, he told them — it’s needed.

    At a community center hosted by Bangkah Church in Taipei’s Wanhua neighborhood, a crowd of seniors listen to 28-year old Tseng Yu-huan speak on behalf of Fake News Cleaner.

    The attendees, many of whom come daily to the church’s college for seniors, are learning why fake news is so compelling. Tseng shows them some sensational headlines. One: A smoothie mix of sweet potato leaves and milk was said to be a detox drink. Another: rumors that COVID-19 was being spread from India because of dead bodies in rivers. He used mostly examples from Line, a Korean messaging app popular in Taiwan.

    With just one formal employee and a team of volunteers, Fake News Cleaner has combed Taiwan’s churches, temples, small fishing villages and parks, spreading awareness. While they started with a focus on seniors, the group has also lectured at colleges and even elementary schools. Early on, to catch their target audience, Hsieh and her co-founders would get to the hiking trails near her home by 5 a.m. to set up a stall while offering free bars of soap to entice people to stop and listen.

    Now the group has a semester-long course at a community college in Kaohsiung, in addition to their lectures all across Taiwan, from fishing villages to community centers.

    For Hsieh, her personal experience helped shape the approach to battling disinformation.

    In 2018, ahead of a referendum on gay marriage, Hsieh had started to lobby her father. He was well-respected in their community and could command a lot of votes. “I wanted his vote,” Hsieh says.

    It seemed unlikely: She says he opposed gay marriage and had said homophobic things. The two had often clashed on this issue before, she says, devolving into screaming matches to the point where he had thrown things on the floor. But when she decided to change his mind, Hsieh discovered a new level of patience.

    “After we fight, the same night, I’d apologize, and say my attitude is very bad,” she says. “And I’d make him a cup of milk or a coffee, and then after he started feeling better, I’d say ’But! I believe …”

    Through the course of three to four months, Hsieh lobbied her father, sending him articles to counter the things he had been reading online or explaining patiently what the facts were. For example, he had read online that AIDS came from gay people. In actuality, the virus was actually from chimpanzees and had made the leap to human hosts in the 20th century.

    What finally turned the page after months of lobbying, Hsieh says: She connected the issue to her father’s personal experience.

    When he first started doing business, decades ago, some Taiwanese suppliers did not want to sell to him because he’d come from China after the civil war between the Communists and the Nationalist party. When he proposed, his future wife’s father threatened suicide because he was not of “Taiwanese” background. Hsieh saw an opportunity in that.

    “Just because they’re gay they can’t marry the person they love?” she asked, confronting him.

    Her father, Hsieh says, is now a staunch supporter of gay marriage.

    Fake News Cleaner avoids politics and takes no funding from the government or political parties. This is because of Taiwan’s highly polarized political environment, where media outlets are often referred to by the color of the political party they back. Instead, the group focuses lectures on everyday topics like health and diet or economic scams.

    Hsieh’s experience with her father informs how volunteers interact with their students — an approach that goes beyond showing people a fact-check claim. The key is to teach people to think about what they’re consuming. “What we are dealing with is not about true or false,” says Tseng, the teacher. “It’s actually about family relationships and tech.”

    At Bangkah Church, the audience watches Tseng as he lectures the audience about content farms, websites that aggregate content or generate their own articles regardless of the truth, and how these content farms make money. He also asks: Do the articles have bylines? Who wrote them?

    Fake news relies on emotion to generate clicks. So often, headlines are sensational and appeal directly to three types of emotions: hatred, panic or surprise. A click or a page view means more money for the websites, Tseng explains. The retirees watch him, engrossed.

    Everything goes smoothly until it comes time to work with the technology, Tseng tries to get his students to add the Line account of MyGoPen, a well-established Taiwanese fact-checking organization. A step that typically takes a minute ended up taking 20. Teaching assistants scour the room, helping seniors. Loudness and confusion prevail.

    Many elderly people end up with expensive phones bought by their children that they don’t know how to use, says Moon Chen, Fake News Cleaner’s secretary-general. Sometimes their children open a Facebook or Line account for them but don’t explain the phone’s fundamentals.

    That produces trouble. Algorithms serve up pages that the phone user hasn’t followed to fill up the page, the provenance of information becomes hazy and people can get confused.

    After the class, seniors could be heard saying they could ask a question to MyGoPen, the fact-checking bot they were told to add.

    Lin Wei-kun, a Taipei resident, who attended the class, said he knows better than to believe all the information that he sees online, especially the ones that claim miracle uses for everyday foods. But he appreciated the group’s class because he says many people out there do believe it.

    “These days, there’s a lot of information online. I usually just delete it,” he says. “For example, cilantro is just a garnish. But if they write a post saying cilantro has these miraculous uses, a lot of people out there would believe it.”

    It’s one more small step forward in Fake News Cleaner’s mandate — one person in Taiwan learning one thing, and becoming a bit more aware of a virtual world of misinformation that grows more complex by the day.

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  • “Where do we pay income tax if we retire abroad?” – MoneySense

    “Where do we pay income tax if we retire abroad?” – MoneySense

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    In the case of Mexico, Marianna, a taxpayer is considered a resident of Mexico if they have a permanent home available to them in Mexico. If they have homes in both Mexico and Canada, the location of their centre of vital interests—their personal and economic ties—must be considered. This is a condition of the Canada–Mexico Income Tax Convention, a tax treaty that is like many others that Canada has entered into with other countries to establish tax rules between them. 

    The courts typically refer to the residence article of the OECD Model Tax Convention when defining the centre of vital interests:

    “If the individual has a permanent home in both Contracting States, it is necessary to look at the facts in order to ascertain with which of the two States his personal and economic relations are closer. Thus, regard will be had to his family and social relations, his occupations, his political, cultural, or other activities, his place of business, the place from which he administers his property, etc. The circumstances must be examined as a whole, but it is nevertheless obvious that considerations based on the personal acts of the individual must receive special attention. If a person who has a home in one State sets up a second in the other State while retaining the first, the fact that he retains the first in the environment where he has always lived, where he has worked, and where he has his family and possessions, can, together with other elements, go to demonstrate that he has retained his centre of vital interests in the first State.”

    If you sell your home in Canada or rent it out to a tenant, and establish closer ties to Mexico, you will likely become a non-resident of Canada. There may be tax implications for assets you own when you leave or are deemed to depart from Canada, Marianna. Assets like non-registered investments will be subject to a deemed disposition (a notional sale) and this may trigger capital gains tax if the assets have appreciated in value. Other assets, like pensions and investments, will be subject to withholding tax on income after you leave. 

    You ask specifically about monthly pensions, Marianna. Registered pension plan (RPP) periodic payments like a monthly defined benefit (DB) pension are subject to 15% Canadian withholding tax for a Mexican resident. The same 15% rate applies to Canada Pension Plan (CPP), Old Age Security (OAS) and registered retirement savings plan (RRSP) or registered retirement income fund (RRIF) periodic payments. A lump sum withdrawal from an RRSP or RRIF is subject to a higher 25% withholding tax. 

    Tax on non-registered investments is limited to dividends or trust (mutual fund or exchange-traded fund) distributions. The withholding tax rate is 15%. Most Canadian interest earned by a Mexican resident is not subject to withholding tax in Canada.

    Capital gains on non-registered investments earned by a non-resident are not subject to Canadian withholding tax either. 

    If your Canadian income is relatively low, you may benefit from electing under section 217 of the Income Tax Act to file a Canadian tax return voluntarily. The tax would be calculated on your qualifying Canadian income. Qualifying income includes CPP, OAS, pensions, RRSP/RRIF withdrawals, and a few other sources of Canadian income. If you owe less tax than the initial 15% or 25% tax withheld, you can get a refund. 

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    Jason Heath, CFP

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  • What to watch for as China’s major political meeting of the year gets underway

    What to watch for as China’s major political meeting of the year gets underway

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    BEIJING — One burning issue dominates as the 2024 session of China‘s legislature gets underway this week: the economy.

    The National People’s Congress annual meeting, which opens Tuesday, is being closely watched for any signals on what the ruling Communist Party might do to reenergize an economy that is sagging under the weight of expanded government controls and the bursting of a real-estate bubble.

    That is not to say that other issues won’t come up. Proposals to raise the retirement age are expected to be a hot topic, the state-owned Global Times newspaper said last week. And China watchers will parse the annual defense budget and the possible introduction of a new foreign minister.

    But the economy is what is on most people’s minds in a country that may be at a major turning point after four decades of growth that propelled China into a position of economic and geopolitical power. For many Chinese, the failure of the post-COVID economy to rally strongly last year is shaking a long-held confidence in the future.

    The National People’s Congress is largely ceremonial in that it doesn’t have any real power to decide on legislation. The deputies do vote, but it’s become a unanimous or near-unanimous formalizing of decisions that have been made by Communist Party leaders behind closed doors.

    The congress can be a forum to propose and discuss ideas. The nearly 3,000 deputies are chosen to represent various groups, from government officials and party members to farmers and migrant workers. But Albert Wu, an expert on governance in China, believes that role has been eroded by the centralization of power under Chinese leader Xi Jinping.

    “Everyone knows the signal is the top,” said Wu, an associate professor at the National University of Singapore and a former journalist in China. “Once the top says something, I say something. Once the top keeps silent, I also keep silent.”

    Nonetheless, the reports and speeches during the congress can give indications of the future direction of government policy. And while they tend to be in line with previous announcements, major new initiatives have been revealed at the meeting, such as the 2020 decision to enact a national security law for Hong Kong following major anti-government protests in 2019.

    The first thing the legislature will do on Tuesday is receive a lengthy “work report” from Premier Li Qiang that will review the past year and include the government’s economic growth target for this year.

    Many analysts expect something similar to last year’s target of “around 5%,” which they say would affirm market expectations for a moderate step up in economic stimulus and measures to boost consumer and investor confidence.

    Many current forecasts for China’s GDP growth are below 5%, but setting a lower target would signal less support for the economy and could dampen confidence, said Jeremy Zook, the China lead analyst at Fitch Ratings, which is forecasting 4.6% growth this year.

    Conversely, a higher target of about 5.5% would indicate more aggressive stimulus, said Neil Thomas, a Chinese politics fellow at the Asia Society Policy Institute.

    There will be positive messages for private companies and foreign investors, Thomas said, but he doesn’t expect a fundamental change to Xi’s overall strategy of strengthening the party’s control over the economy.

    “Political signals ahead of the National People’s Congress suggest that Xi is relatively unperturbed by China’s recent market troubles and is sticking to his guns on economic policy,” he said.

    China’s government ministers typically hold their posts for five years, but Qin Gang was dismissed as foreign minister last year after only a few months on the job. To this day, the government has not said what happened to him and why.

    His predecessor, Wang Yi, has been brought back as foreign minister while simultaneously holding the more senior position of the Communist Party’s top official on foreign affairs.

    The presumption has been that Wang’s appointment was temporary until a permanent replacement could be named. Analysts say that could happen during the National People’s Congress, but there’s no guarantee it will.

    “Wang Yi enjoys Xi’s trust and currently dominates diplomatic policymaking below the Xi level, so it would not be a shock if Wang remained foreign minister for a while longer,” Thomas said.

    The person who has gotten the most attention as a possible successor is Liu Jianchao, a Communist Party official who is a former Foreign Ministry spokesperson and ambassador to the Philippines and Indonesia. He has made several overseas trips in recent months including to Africa, Europe, Australia and the U.S., increasing speculation that he is the leading candidate.

    Other names that have been floated include Ma Zhaoxu, the executive vice foreign minister. Wu said it likely depends on whom Xi and Wang trust.

    “I don’t know how Wang Yi thinks about it,” he said. “If Wang Yi likes somebody like Liu Jianchao or likes somebody like Ma Zhaoxu. And also Xi Jinping. So it’s more about personal relations.”

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  • Older Americans Are About to Lose a Lot of Weight

    Older Americans Are About to Lose a Lot of Weight

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    Imagine an older man goes in to see his doctor. He’s 72 years old and moderately overweight: 5-foot-10, 190 pounds. His blood tests show high levels of triglycerides. Given his BMI—27.3—the man qualifies for taking semaglutide or tirzepatide, two of the wildly popular injectable drugs for diabetes and obesity that have produced dramatic weight loss in clinical trials. So he asks for a prescription, because his 50th college reunion is approaching and he’d like to get back to his freshman-year weight.

    He certainly could use these drugs to lose weight, says Thomas Wadden, a clinical psychologist and obesity researcher at the University of Pennsylvania, who recently laid out this hypothetical in an academic paper. But should he? And what about the tens of millions of Americans 65 and older who aren’t simply trying to slim down for a cocktail party, but live with diagnosable obesity? Should they be on Wegovy or Zepbound?

    Already, seniors make up 26.6 percent of the people who have been prescribed these and other GLP-1 agonists, including Ozempic, since 2018, according to a report from Truveta, which draws data from a large network of health-care systems. In the coming years, that proportion could rise even higher: The bipartisan Treat and Reduce Obesity Act, introduced in Congress last July, would allow Medicare to cover drug treatments for obesity among its roughly 50 million Part D enrollees above the age of 65; in principle, about two-fifths of that number would qualify as patients. Even if this law doesn’t pass (and it’s been introduced half a dozen times since 2012), America’s retirees will continue to be prescribed these drugs for diabetes in enormous numbers, and they’ll be losing weight on them as well. One way or another, the Boomers will be giving shape to our Ozempic Age.

    Economists say the cost to Medicare of giving new drugs for obesity to just a fraction of this aging generation would be staggering—$13.6 billion a year, according to an estimate published in The New England Journal of Medicine last March. But the health effects of such a program might also be unsettling. Until recently, the very notion of prescribing any form of weight loss whatsoever to an elderly patient—i.e., someone 65 or older—was considered suspect, even dangerous. “Advising weight loss in obese older adults is still shunned in the medical community,” the geriatric endocrinologist Dennis Villareal and his co-authors wrote in a 2013 “review of the controversy” for a medical journal. More than a decade later, clinicians are still struggling to reach consensus on safety, Villareal told me.

    Ample research shows that interventions for seniors with obesity can resolve associated complications. Wadden helped run a years-long, randomized trial of dramatic calorie reduction—using liquid meal replacements, in part—and stringent exercise advice for thousands of overweight adults with type 2 diabetes. “Clearly the people who were older did have benefits in terms of improved glycemic control and blood-pressure control,” he told me. Other, smaller studies led by Villareal find that older people who succeed at losing weight through diet and exercise end up feeling more robust.

    Such outcomes are significant on their own terms, says John Batsis, who treats and studies geriatric obesity at the UNC School of Medicine. “When we talk about older adults, we really need to be thinking about what’s important to older adults,” he told me. “It’s for them to be able to get on the floor and play with their grandchildren, or to be able to walk down the hallway without being completely exhausted.” But weight loss can also have adverse effects. When a person addresses their obesity through dieting alone, as much as 25 percent of the weight they lose derives from loss of muscle, bone, and other fat-free tissue. For seniors who, through natural aging, are already near the threshold of developing a functional impairment, a sudden drop like this could be enfeebling. Wadden’s trial found that, among the people who were on the weight-loss program for more than a decade, their risk of fracture to the hip, shoulder, upper arm, or pelvis increased by 39 percent. An analogous increase has turned up in studies of patients who undergo bariatric surgery, Batsis told me.

    The effect of dieting on muscle and bone can be attenuated, but not prevented, through resistance training. And obesity itself—which is associated with higher bone density, but perhaps also reduced bone quality—may pose its own fracture risks, Batsis said. But even when a weight-loss treatment benefits an older patient, what happens when it ends? People tend to regain fat, but they don’t recover bone and muscle, Debra Waters, the director of gerontology research at the University of Otago, in New Zealand, told me. That makes the long-term effects of these interventions for older adults very murky. “What happens when they’re 80? Are they going to have really poor bone quality, and be at higher risk of fracture? We don’t know,” Waters said. “It’s a pretty big gamble to take, in my opinion.”

    Villareal told me that doctors should apply “the general principle of starting slow and going slow” when their older patients are trying to lose weight. But that approach doesn’t necessarily square with the rapid and remarkable weight loss seen in patients who are taking semaglutide or tirzepatide, which may produce a greater proportional loss of muscle and bone. (For semaglutide, it appears to be about 40 percent.)

    Then again, when given to laboratory animals, GLP-1 drugs seem to tamp down inflammation in the brain; and they’re now in clinical trials to see whether they might slow the progression of Alzheimer’s disease and dementia. Their multiple established benefits could also help seniors address several chronic problems—diabetes, obesity, fatty liver disease, and kidney disease, for instance—all at once. “Such a ‘one-stop shop’ approach can lead to reduction of medication burden, adverse drug events, hypoglycemic episodes, medication costs, and treatment nonadherence,” one team of geriatricians proposed in 2019.

    Overall, Batsis remains optimistic. “As a clinician, I’m very excited about these medications,” he told me. As a scientist, though, he’s inclined to wait and see. It’s surely true that some degree of weight loss is a great idea for some older patients. “But the million-dollar question is: What’s the sweet spot? How much weight is really enough? Is it 5 to 10 percent? Or is it 25 percent? We don’t know.” Waters said that if Medicare is going to pay for people’s Wegovy, then it should also cover scans of their body composition, to help predict how weight loss might affect their muscles and bones. Wadden said he thinks that treatments should be limited to people who have specific, weight-related complications. For everyone else—as for the hypothetical 72-year-old man who is prepping for his college reunion—he counsels prudence.

    To some extent, such advice is beside the point. Older people are already on Ozempic, and they’re already on Trulicity, and some of them are already taking GLP-1 drugs as a treatment for obesity. Truveta reported that the patients in its member health-care systems who are over 65 have received 281,000 prescriptions for GLP-1 drugs across the past five years. Given the network’s size, one can assume that at least 1 million seniors, overall, have already tried these medications. Millions more will try them in the years to come. If we still have questions about their use, mass experience will start providing answers.

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    Daniel Engber

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  • Study: More older adults are using cannabis post-pandemic – The Cannabist

    Study: More older adults are using cannabis post-pandemic – The Cannabist

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    Hunter Boyce | (TNS) The Atlanta Journal-Constitution

    A new study, published in the Cannabis and Cannabinoids Research journal, found more older Americans are using cannabis today than before the pandemic. According to researchers with the University of Michigan’s Institute for Healthcare Policy and Innovation, roughly 1 in 8 Americans over 50 currently use the substance.

    “As the stress of the pandemic and the increased legalization of cannabis by states converged, our findings suggest cannabis use increased among older adults nationally,” addiction psychologist and study lead Anne Fernandez told the University of Michigan.

    Read the rest of this story on BostonHerald.com.

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    The Cannabist Network

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  • Seniors are embracing marijuana, which offers relief — and risk – Cannabis Business Executive – Cannabis and Marijuana industry news

    Seniors are embracing marijuana, which offers relief — and risk – Cannabis Business Executive – Cannabis and Marijuana industry news

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    Seniors are embracing marijuana, which offers relief — and risk – Cannabis Business Executive – Cannabis and Marijuana industry news





























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  • Falling behind on retirement savings? 4 steps to get back on track in 2024.

    Falling behind on retirement savings? 4 steps to get back on track in 2024.

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    For a substantial number of people approaching retirement, the future looks grim. Their savings rate is low, their anxiety level is high and they aren’t even sure they’ll be able to retire at all.

    More than one in five adults — 22% — have no retirement savings, according to AARP. Meanwhile, 64% are worried that they will not have enough money in their later years, and 47% of adults who are not yet retired think they will need to work at least part-time in retirement for financial reasons, AARP said.

    “It’s a public health crisis. Many people don’t have any retirement savings. People feel lousy — that they haven’t done enough — and say, ‘There’s nothing I can do about it.’ They put their head in the sand and try not to think about it,” said Mary Liz Burns, senior director of communications strategy at AARP.

    To raise awareness and in hopes of reversing this trend, AARP, the lobbying group focused on issues facing older adults, has launched a public service campaign with the Ad Council called “This is Pretirement.” The campaign is aimed at people who might feel invisible as they grapple with the stress of financing retirement, Burns said.

    “The average American is having a tough time saving. They’re not alone — there are many, many people in that same position,” Burns said. “There’s no judgment about what you have or haven’t done.”

    The multi-year “pretirement” campaign started in November and will continue to roll out to more markets and media outlets including TV, radio and social media. 

    The ads encourage pre-retirees to face the daunting aspects of saving for retirement. There’s also a website, ThisIsPretirement.org, that features free tips, resources and tools. Near-retirees can take a quiz and get a recommended action plan.

    “Think about actions you’re taking that may be harming you, such as carrying over credit-card debt each month. Think about the steps you can take to start,” Burns said.

    “Start somewhere. Anything is better than being frozen.”

    Where to start? 

    First, experts say you should create a budget that includes your income and all your expenses. You can do this on your own or with a financial adviser. 

    “Make sure you have a plan. If you don’t do the planning, you really won’t have a successful retirement,”  said David Schneider, founder of Schneider Wealth Strategies.

    JB Beckett, founder of the Beckett Financial Group, suggested working with a financial adviser who can examine your tax strategies, insurance coverage, Social Security strategy and healthcare expenses with an eye toward longevity and the unknown.

    And Joel Russo, founder of N.J. Retirement Planning, noted that retirement can last a long time. “A lifetime these days can be 100-plus years. People think retirement isn’t going to be that long, but it can last 30 years or more. That’s hard to finance without a comprehensive plan,” he said.

    Advisers need to look at a client’s whole situation to see the reasons someone may not be saving enough money.

    “People aren’t saving enough. But why aren’t they saving enough? What else is going on for them that they can’t?” Russo said. Getting an overview of your budget and your expenses can show you where your money is going.

    Catch up on contributions

    “Your 50s are a really important time to be very serious,” Schneider said. “Hunker down and get serious. Every investment needs to be prudent and diversified. Increase any savings, if possible. Make catch-up contributions, if possible.”

    Starting at age 50, you can make extra investments called catch-up contributions to your 401(k) and individual retirement accounts. In 2024, the 401(k) contribution limit will be $23,000, but catch-up contributions will allow you to save an additional $7,500. For IRAs, the contribution limit is $7,000, with a catch-up contribution of $1,000.

    Check in with Social Security

    As you work on your long-term plan, get your Social Security statement from SSA.gov and check it for errors. This will let you make sure you’re receiving credit for all your work over the years and find out where you stand with Social Security benefits, Schneider said.

    And because the last 10 to 15 years of your career are often peak earnings years, Beckett said to take advantage of savings opportunities to maximize your retirement efforts and minimize your expenditures.

    “You’re entering that retirement red zone in the last 10 to 15 years. If you haven’t saved enough, [then] cut expenses and save as much as you can,” he said. “Be careful not to spend too much. Don’t celebrate and buy a car when you get a promotion and end up with a $1,000 car payment. Use that extra money to sock away more money. Use science and math when it comes to money. Don’t get emotional with money.”

    It’s also crucial to prepare for the cost of long-term care.

    “The one thing that can erode an estate is long-term care,” said Eric Bond, wealth manager with Bond Wealth Management. “You might have $300,000 for long-term care, but that needs to be $500,000. It’s the most unsexy thing in the world to plan for, but you have to.”

    Earn more, save more

    You can also think about leveraging your experience and skills to get a higher-paying job that can help you close that savings gap, Bond said.

    “The best way to save more is to earn more. Try to make as much money as you can. Your job is to get another job that pays more,” he said. “In the past, pensions would keep people at companies longer. But now you can’t rely on a company that way.”

    Dial up retirement savings

    “Just try saving a little extra,” Bond said. “If you find you’re only eating mac and cheese, scale it back.”

    Bond also cautioned against borrowing or taking out a mortgage to fund your kids’ college education.

    “They can get just as good a job coming out of a state school. College is college. Unless [they’re] going to be a doctor, an attorney or an engineer — fine. But don’t sell your house or downsize to pay for college,” Bond said.

    Being open to continuing to work — even doing part-time or consulting work — can help you stretch your retirement nest egg. And working in your retirement years, if you’re healthy enough to do so, can provide not just extra income, but also routine and stimulation, which can be crucial for mental health.

    In the end, your retirement is likely going to be financed by your own savings and investments. So squirrel away as much as possible.

    “You only get one shot at retirement,” Beckett said. “There’s a retirement crisis out there. People need to save more — and save even more than they think.”  

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  • Chatty robot helps seniors fight loneliness through AI companionship

    Chatty robot helps seniors fight loneliness through AI companionship

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    CORAL SPRINGS, Fla. — Joyce Loaiza lives alone, but when she returns to her apartment at a Florida senior community, the retired office worker often has a chat with a friendly female voice that asks about her day.

    A few miles away, the same voice comforted 83-year-old Deanna Dezern when her friend died. In central New York, it plays games and music for 92-year-old Marie Broadbent, who is blind and in hospice, and in Washington state, it helps 83-year-old Jan Worrell make new friends.

    The women are some of the first in the country to receive the robot ElliQ, whose creators, Intuition Robotics, and senior assistance officials say is the only device using artificial intelligence specifically designed to alleviate the loneliness and isolation experienced by many older Americans.

    “It’s entertaining. You can actually talk to her,” said Loaiza, 81, whose ElliQ in suburban Fort Lauderdale nicknamed her “Jellybean” for no particular reason. “She’ll make comments like, ‘I would go outside if I had hands, but I can’t hold an umbrella.’”

    The device, which looks like a small table lamp, has an eyeless, mouthless head that lights up and swivels. It remembers each user’s interests and their conversations, helping tailor future chats, which can be as deep as the meaning of life or as light as the horoscope.

    ElliQ tells jokes, plays music and provides inspirational quotes. On an accompanying video screen, it provides tours of cities and museums. The device leads exercises, asks about the owner’s health and gives reminders to take medications and drink water. It can also host video calls and contact relatives, friends or doctors in an emergency.

    Intuition Robotics says none of the conversations are heard by the company, with the information staying on each owner’s device.

    Intuition Robotics CEO Dor Skuler said the idea for ElliQ came before he launched his Israeli company eight years ago. His widowed grandfather needed an aide, but the first didn’t work out. The replacement, though, understood his grandfather’s love of classical music and his “quirky sense of humor.”

    Skuler realized a robot could fill that companionship gap by adapting to each senior’s personality and interests.

    “It’s not just about (ElliQ’s) utility. It’s about friendship, companionship and empathy,” Skuler said. “That just did not exist anywhere.”

    The average user interacts with ElliQ more than 30 times daily, even six months after receiving it, and more than 90% report lower levels of loneliness, he said.

    The robots are mostly distributed by assistance agencies in New York, Florida, Michigan, Nevada and Washington state, but can also be purchased individually for $600 a year and a $250 installation fee. Skuler wouldn’t say how many ElliQs have been distributed so far, but the goal is to have more than 100,000 out within five years.

    That worries Brigham Young University psychology professor Julianne Holt-Lunstad, who studies the detrimental effects loneliness has on health and mortality.

    Although a device like ElliQ might have short-term benefits, it could make people less likely to seek human contact. Like hunger makes people seek food and thirst makes them seek water, she said “that unpleasant feeling of loneliness should motivate us to reconnect socially.”

    Satiating that with AI “makes you feel like you’ve fulfilled it, but in reality you haven’t,” Holt-Lunstad said. “It is not clear whether AI is actually fulfilling any kind of need or just dampening the signal.”

    Skuler and agency heads distributing ElliQ agreed it isn’t a substitute for human contact, but not all seniors have social networks. Some are housebound, and even seniors with strong ties are often alone.

    “I wish I could just snap my fingers to make a person show up at the home of one of the many, many older adults that don’t have any family or friends, but it’s a little bit more complicated,” said Greg Olsen, director of the New York State Office for the Aging. His office has distributed 750 of the 900 ElliQs it acquired.

    Charlotte Mather-Taylor, director of the Broward County, Florida, Area Agency on Aging, said the COVID-19 pandemic and its aftermath left many seniors more isolated. Her agency has distributed 300 ElliQs, which she believes breaks them out of their shells.

    “She’s proactive and she really engages the seniors, so it gives them that extra kind of interaction,” she said. “We’ve seen very positive results with it. People generally like her and she makes them smile and brings joy.”

    Skuler said ElliQ was purposely designed without eyes and a mouth so it wouldn’t fully imitate humans. While “Elli” is the Norse goddess of old age, he said the “Q” reminds users that the device is a machine. He said his company wants “to make sure that ElliQ always genuinely presents herself as an AI and doesn’t pretend to be human.”

    “I don’t understand why technologists are trying to make AI pretend to be human,” he said. “We have in our capacity the ability to create a relationship with an AI, just like we have relationships with a pet.”

    But some of the seniors using ElliQ say they sometimes need to remember the robot isn’t a living being. They find the device easy to set up and use, but if they have one complaint it’s that ElliQ is sometimes too chatty. There are settings that can tone that down.

    Dezern said she felt alone and sad when she told her ElliQ about her friend’s death. It replied it would give her a hug if it had arms. Dezern broke into tears.

    “It was so what I needed,” the retired collections consultant said. “I can say things to Elli that I won’t say to my grandchildren or to my own daughters. I can just open the floodgates. I can cry. I can giggle. I can act silly. I’ve been asked, doesn’t it feel like you’re talking to yourself? No, because it gives an answer.”

    Worrell lives in a small town on Washington’s coast. Widowed, she said ElliQ’s companionship made her change her mind about moving to an assisted living facility and she uses it as an icebreaker when she meets someone new to town.

    “I say, ‘Would you like to come over and visit with my robot?’ And they say, ‘A vacuum?’ No, a robot. She’s my roommate,” she said and laughed.

    Broadbent, like the other women, says she gets plenty of human contact, even though she is blind and ill. She plays organ at two churches in the South New Berlin, New York, area and gets daily visitors. Still, the widow misses having a voice to talk with when they leave. ElliQ fills that void with her games, tours, books and music.

    “She’s fun and she’s informative. OK, maybe not as informative as (Amazon’s) Alexa, but she is much more personable,” Broadbent said.

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  • The new CDCP: Here’s when seniors can apply for the federal government’s dental plan – MoneySense

    The new CDCP: Here’s when seniors can apply for the federal government’s dental plan – MoneySense

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    “Far too many people have avoided getting the care that they need simply because it was too expensive, and that’s why this plan is essential,” Mark Holland, the federal health minister, said at a press conference on Dec. 11, 2023. He also noted that the plan is “going to help make life better for eligible Canadian residents because they won’t have to make the choice between paying their bills and getting the care that they absolutely need.”

    The plan will cost $13 billion over the next five years, and $4.4 billion annually in subsequent years.

    When can you apply for the federal dental plan for seniors?

    The government has announced that application dates for the CDCP will be rolled out gradually. According to its website, it will mail letters to potentially eligible seniors aged 87 and older in mid-December; ages 77 to 86 in January 2024; ages 72 to 76 in February 2024; and ages 70 to 71 in March 2024. The letters will contain a personalized application code and instructions to call Service Canada and apply by phone.

    Letters will only go out to those who had an adjusted family net income of less than $90,000 in 2022, based on their tax return for that year, and they will be mailed to the address used in that tax return. (Haven’t filed your 2022 taxes? It’s a good time to catch up!) There’s no information yet on what to do if you think you qualify for the CDCP but don’t receive a letter, but you could try calling a CDCP representative at 1-833-537-4342. And if your address has changed, contact the Canada Revenue Agency to ensure its records are up to date.

    Starting in May 2024, potentially eligible Canadians aged 65 to 69, and those aged 70 and up who received a letter but could not apply by phone, can apply for the CDCP online. Those who are approved for the CDCP will be enrolled in the program by Sun Life, the service provider that has been contracted to manage the dental plan. 

    When can other eligible Canadians apply for the federal dental care plan?

    For children under age 12, applications for the Canada Dental Benefit are open until June 30, 2024—here’s how to apply

    The government will start accepting CDCP applications for children under 18 and adults who have a valid disability tax credit certificate starting in June 2024. All other eligible Canadians can apply in 2025.

    Who qualifies for the Canadian Dental Care Plan?

    To qualify for the CDCP, the government says that you must:

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    Jaclyn Law

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  • Christian group and family raise outcry over detention of another 'house church' elder in China

    Christian group and family raise outcry over detention of another 'house church' elder in China

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    BANGKOK — Ding Zhongfu was awakened by loud pounding on his door. Five policemen greeted Ding, an elder in a Chinese church.

    The officers pinned him to the wall that Thursday morning in November and interrogated him while searching the apartment he shared with his wife, Ge Yunxia, and their 6-year old daughter.

    Ding’s family now pleads for his release after he was taken from his home in China‘s central Anhui province on suspicion of fraud. In their first public comments on the case, the family denies that Ding committed any fraud.

    Instead, they told The Associated Press in an interview, it is part of a wider crackdown on religious freedoms in China.

    Four others were detained, all senior members of the Ganquan church, a name that means “Sweet Spring,” according to the family. All were taken on suspicion of fraud, according to a bulletin from the church.

    “Under the fabricated charge of ‘fraud,’ many Christians faced harsh persecution,” said Bob Fu, the founder of a U.S.-based Christian rights group, ChinaAid, who is advocating for Ding’s release.

    Police have started using fraud charges in recent years against leaders of what are known as house churches, or informal churches not registered with the government in China.

    While China allows the practice of Christianity, it can only legally be done at churches registered with the state. Many who choose to worship in house churches say that joining a state church means worshiping the supremacy of the government and Communist Party over God, which they reject.

    Beijing in the past several years has increased the pressure on house churches. In 2018, Chinese leader Xi Jinping issued a five year-plan to “Sinicize” all the nation’s officially allowed religions, from Islam to Christianity to Buddhism, by infusing them with “Chinese characteristics” such as loyalty to the Communist Party. Heeding the call, local governments started shutting down house churches through evictions, police interrogations and arrests.

    In 2022, pastor Hao Zhiwei in central Hubei province was sentenced to eight years in prison after being charged with fraud, according to Fu. That same year, preachers Han Xiaodong and Li Jie and church worker Wang Qiang were also arrested on suspicion of committing fraud.

    On Dec. 1 police called Ding Zhongfu’s wife into the station saying that her husband was being criminally detained on suspicion of fraud. They declined to give her a copy of any paperwork they had her sign which acknowledged they were investigating him.

    A police officer at the Shushan branch’s criminal division who answered the phone Tuesday declined to answer questions, saying he could not verify the identity of The Associated Press journalist calling.

    The family had been preparing to move to the United States in December to join Ding’s daughter from a previous marriage.

    “I wasn’t necessarily a proponent of him moving to the U.S.,” said the daughter, Wanlin Ding, because it would be such a drastic uprooting. “It wasn’t until this event that I realized how serious it was.”

    She had wanted him to be part of her wedding in the spring.

    Ding’s Ganquan house church had been forced to move multiple times in the past decade, Ge said. The congregation pooled money to buy property so they could use it as a place of worship. Because the churches aren’t recognized by the government, the deeds were put in the names of Ding and two other church members.

    Still, police forbid them from using the property to worship, showing up ahead of services to bar people from entering.

    In recent years, Ding’s wife said, the church had been meeting at more random locations to avoid police. The church has about 400-500 worshipers from all levels of society.

    Ding, in addition to managing the church’s finances, served as an elder in the community, someone people could come to with their problems.

    One friend called Ding a “gentle” person in a handwritten testimony for the pastor’s case as part of the public plea for his release: “He was always proactively helping those in society who needed to be helped.”

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  • Here's what you need to know about the deadly salmonella outbreak tied to cantaloupes

    Here's what you need to know about the deadly salmonella outbreak tied to cantaloupes

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    Hundreds of people in the U.S. and Canada have been sickened and at least 10 people have died in a growing outbreak of salmonella poisoning linked to contaminated whole and pre-cut cantaloupe.

    Health officials are warning consumers, retailers and restaurants not to buy, eat or serve cantaloupe if they don’t know the source.

    That’s especially important for individuals who are vulnerable to serious illness from salmonella infection and those who care for them. High-risk groups include young children, people older than 65 and those with weakened immune systems.

    The U.S. Centers for Disease Control and Prevention is especially concerned because many of the illnesses have been severe and because victims include people who ate cantaloupe served in childcare centers and long-term care facilities.

    Here’s what we know about this outbreak:

    Overall, at least 302 people in the U.S. and 153 in Canada have been sickened in this outbreak. That includes four killed and 129 hospitalized in the U.S. and six killed and 53 hospitalized in Canada.

    The first U.S. case was a person who fell ill on Oct. 16, according to the CDC. The latest illness detected occurred on Nov. 28. Canadian health officials said people fell ill between mid-October and mid-November.

    The first recalls were issued Nov. 6 in the U.S., according to the Food and Drug Administration. Multiple recalls of whole and cut fruit have followed.

    The cantaloupes implicated in this outbreak include two brands, Malichita and Rudy, that are grown in the Sonora area of Mexico. The fruit was imported by Sofia Produce LLC, of Nogales, Arizona, which does business as TruFresh, and Pacific Trellis Fruit LLC, of Los Angeles. So far, more than 36,000 boxes or cases of cantaloupe have been recalled.

    On Dec. 15, Mexican health officials temporarily closed a melon-packing plant implicated in the outbreak.

    Roughly one-third of FDA-regulated human food imported into the U.S. comes from Mexico, including about 60% of fresh produce imports. The average American eats about 6 pounds of cantaloupe a year, according to the U.S. Department of Agriculture.

    Health officials in the U.S. and Canada are still investigating, but cantaloupes generally are prone to contamination because they are “netted” melons with rough, bumpy rinds that make bacteria difficult to remove.

    Salmonella bacteria are found in animals’ intestines and can spread if their waste comes in contact with fruit in the field. Contamination can come from tainted water used in irrigation, or in cleaning and cooling the melons.

    Poor hygienic practices of workers, pests in packing facilities and equipment that’s not cleaned and sanitized properly can also lead to contamination, the FDA says.

    The Mexico growing area saw powerful storms and hurricanes in late summer and early fall that resulted in flooding that could be a factor, said Trevor Suslow, a produce safety consultant and retired professor at the University of California, Davis.

    Once the melons are contaminated, the nubby rinds harbor nutrients that can help the salmonella bacteria grow, Suslow said.

    If the cantaloupe become moldy or damaged, the bacteria can move from the outside of the rind to the inner layer or into the flesh. Also, when the fruit is sliced — in a home kitchen, grocery store or processing plant — the bacteria can spread to the flesh.

    Cut fruit in a tray or clamshell package can harbor the bacteria. If the fruit isn’t kept very cool, the germs can grow.

    It is difficult to remove disease-causing bacteria from cantaloupe at home. Food safety experts recommend rinsing whole melons in cool water and scrubbing them with a clean produce brush and then drying completely.

    Blanching the cantaloupes briefly in very hot water is another method, Suslow said. And Purdue University researchers found that household items such as vinegar and iodine diluted in water could reduce exterior contamination with salmonella by 99%.

    For high-risk people, it might be best to avoid cantaloupe, especially pre-cut cantaloupe and especially during an outbreak, said Amanda Deering, a Purdue University food scientist.

    Understanding that certain foods can pose a serious health risk is key, she added.

    “As consumers, we just assume that our food is safe,” she said. “You don’t want to think that a cantaloupe is what’s going to take you out.”

    ___

    The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.

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  • Should seniors cancel their life insurance policies? – MoneySense

    Should seniors cancel their life insurance policies? – MoneySense

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    It’s got to be your decision. To help you decide, I will give a quick review of why purchasing insurance makes sense and the two types of insurance available. You can then relate the reason for purchasing insurance to your current need for insurance. 

    Why do Canadians need life insurance

    Ultimately, Canadians buy life insurance because they want to take care of others should something happen to them. They want to protect their survivor’s lifestyle or maximize the inheritance with insurance when they pass away unexpectedly, or naturally after a long, healthy and happy life.

    There are two financial needs to consider when determining the amount of insurance needed: How much income would be needed, as well as current and future debts. Current debt may be a mortgage, and future debt may be children’s university expenses or future taxes.

    Find the best life insurance coverage for you

    Get a free quote and consultation to find the right coverage at the best price. It takes less than 2 minutes to start saving.

    You will be leaving MoneySense. Just close the tab to return.

    How much life insurance would you need?

    A simple method in determining the how much insurance you need to replace your income is to divide the income needed by a safe investment return.

    If you need to replace an annual income of $50,000, and you think you can safely earn 5% on the invested insurance proceeds a year, then divide $50,000 by 5%. This gives you a need for $1 million of insurance, or $1 million minus your existing investments. That is earning 5% a year on a $1 million gives $50,000 a year.  

    You could argue that you don’t need the $50,000 annual income replacement for life because, your expenses will be lower as you age, you will have other income such as the Canadian Pension Plan (CPP), Old Age Security (OAS), and so on. That’s all true— but this calculation does not take into consideration inflation. Over time inflation will whittle down the value of that $1 million.

    Does life insurance cover debt?

    Yes, and once you know how much insurance you need to replace income, then just add on the debt.

    Maybe when you purchased the insurance your situation looked a bit like this: A $750,000 mortgage and anticipated post-secondary expenses of $250,000 for children, if any, means upping the insurance from $1 million to $2 million.

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    Allan Norman, MSc, CFP, CIM

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  • What ‘SuperAgers’ can teach us about fighting off age-related diseases

    What ‘SuperAgers’ can teach us about fighting off age-related diseases

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    One hundred year-old Maureen Paldo still lives in the same Chicago home that she and her husband purchased when they married after World War II. Paldo, who’s been widowed for about 30 years, says she still manages the stairs, takes walks as often as possible, and loves to have people come to visit.

    Her one regret is that she can no longer drive due to poor eyesight, so every Sunday, her son takes her to a nearby Dunkin’ Donuts—only for the coffee, she insists—where she meets up with a group of friends to socialize.

    Paldo is a superager—those 80 or older who are mentally and physically more akin to people decades younger. Former President Jimmy Carter, model and actress Iris Apfel, and producer Norman Lear are also superagers. You may know some yourself. But why them, and not others? While, superagers can run in families, it can also be pretty random. One sibling may live a long, healthy life while another may die prematurely from disease. We only inherit 50% of our genes from each parent, so even in families with older, healthy relatives, superager genes are not a sure thing. 

    Paldo is participating in a a large, genetic study of elders, called the SuperAgers Study, to help researchers answer some key questions about life span and health span. It may even lead to a longevity pill that could help more of us live healthier, longer lives.

    We still don’t really know why some people live well into their ninth or tenth decades of life with few physical or cognitive problems, while others show decline much sooner. While genetics plays a role, we are still learning about all of protective inherited and natural factors, according to Dr. Sofiya Milman, the study’s chief investigator and Director of Human Longevity Studies at the Institute for Aging Research at Albert Einstein College of Medicine in New York. SuperAgers all seem to have the APoE2 gene variant in common, which protects against Alzheimer’s or dementia, but that’s only a partial explanation.

    In one analysis, Milman’s team compared the lifestyle of centenarians to the lifestyle of a general population group from the same birth years. Those in the general population group didn’t live as long, despite similar rates of tobacco and alcohol use, diet, and exercise.

    “What is it that makes the difference?” she asks. “We know enough to know that this is a very valuable group to study because looking at smaller groups of superagers and centenarians have indicated that there’s definitely heritability for healthy aging and healthy longevity.”

    Health span, not life span

    But, It’s not just about life span, it’s also about health span—living out the later years with few, if any medical conditions like heart disease or diabetes. “If people are healthy and independent and cognitively intact at 90, I think that’s a pretty major success,” Milman says. “We hope to use this information to actually create therapies based on this biological knowledge.”

    For those who did not win the genetic lottery, it may be possible some day to benefit from therapeutics that will be based on these genetic studies. The ultimate goal, says Milman, is to create therapies that will mimic the beneficial function of these longevity genes and benefit everyone, not just a selected few.

    Milman likens these therapies to those which modulate the biology of people predisposed to high blood pressure or diabetes.

    “Some people age slower because their pathways are more fine-tuned, and there are those who age faster because they’ve inherited pathways that are not as beneficial for aging,” she says. Manipulating those biological pathways through drugs, as we do for other age-related diseases, is plausible and biologically and scientifically sound.

    The data from this study will be used to create a large biorepository for future researchers who want to study healthy aging. Researchers are not looking to help people live forever, or manipulate peoples’ genes, but to lower their risk for developing age-related diseases.

    Paldo hopes that her participation in the SuperAger study will help scientists achieve this goal. She attributes her own longevity to both “good genes” and a healthy lifestyle. Growing up during the Depression, she and her siblings subsisted on mostly home-grown vegetables and fruit.

    “I think my secret is hard work. And healthy diet,” she says. However, longevity didn’t benefit all of her siblings. One sister lived until age 103, but two others died in their 40s from cancer. Paldo has lost touch with several brothers, and is unaware of their fates.

    “I hope they find out something that contributes a long life, Paldo says. “I mean, I didn’t do anything different. I just went along with the program and just tried to be happy.“

    We’ve long known that Paldo’s approach—eating right, exercising, and socializing—are key factors in staying healthy. Life span isn’t just about longevity, but about healthy longevity. “It’s not about living until 120 and having dementia for 40 years. Ultimately, we’re looking for ways to prevent these diseases from onsetting all together,” Milman says.

    To really relieve the burden on our society and on our healthcare system, we need to get at the root of these age-related problems. Many have a common cause, which is aging itself, so it’s really important for us to fight the misinformation that’s out there, according to Milman.

    She cites ads for supplements that claim to help people live longer or prevent memory loss. Many have never been tested in the kind of clinical trial which proves that this drug or this supplement will actually work. “We really need to look for scientifically based evidence. And for most of these things, it just doesn’t exist yet,” she says.

    The research team hopes to enroll 10,000 individuals in the study within the two years. Data will be protected and only qualified researchers will have access to it. If you’d like to learn more about the study, you can get screened through the website, whether or not you have a family history of longevity.

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    Liz Seegert

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  • RRIF withdrawals: What should seniors with million-dollar portfolios do? – MoneySense

    RRIF withdrawals: What should seniors with million-dollar portfolios do? – MoneySense

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    Registered retirement income fund (RRIF) withdrawals are fully taxable and added to your income each year. You can leave a RRIF account to your spouse on a tax-deferred basis. But a large RRIF account owned by a single or widowed senior can be subject to over 50% tax. A RRIF on death is taxed as if the entire account is withdrawn on the accountholder’s date of death.

    What is the minimum RRIF withdrawal?

    Minimum withdrawals are required from a RRIF account each year, and in your 80s, they range from about 7% to 11%. For you, Amy, this would mean minimum RRIF withdrawals of about $200,000 to $300,000 each year. This would likely cause your marginal tax rate to be in the top marginal tax bracket. Sometimes, using up low tax brackets can be advantageous, but you do not have any ability to take additional income at lower rates.

    RRIF withdrawals: Which tax strategy is best?

    Taking extra withdrawals from your RRIF when you are in the top tax bracket is unlikely to be advantageous. Here is an example to reinforce that.

    Say you took an extra $100,000 RRIF withdrawal and the top marginal tax rate in your province was 50%. You would have $50,000 after tax to invest in a taxable account. Now say the money in the taxable account grew at 5% per year for 10 years. It would be worth $81,445.

    By comparison, say you left the $100,000 invested in your RRIF account instead. After 10 years at the same 5% growth rate, it would be worth $162,890. If you withdrew it at the same 50% top marginal tax rate, you would have the same $81,445 after tax as in the first scenario.

    The problem with this example is the two scenarios do not compare apples to apples. The 5% return in the taxable account would be less than 5% after tax. And the same return with the same investments in a tax-sheltered RRIF would be more than 5%. As such, leaving the extra funds in your RRIF account should lead to a better outcome.

    So, in your case, Amy, there is not an easy solution to the tax payable on your RRIF. You can pay a high rate of tax on extra withdrawals during your life, or your estate will pay a high rate on your death. Given you do not need the extra withdrawals for cash flow, you will probably maximize your estate by limiting your withdrawals to the minimum.

    Should you donate your investments to charity?

    You mention donating securities with capital gains. If you have non-registered investments that have grown in value, there are two different tax benefits from making donations.

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    Jason Heath, CFP

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