Online dating scam – catfishing

Ever been a victim of an online dating scam?  I have, twice.  A neighbor told me to watch the MTV show called Catfish and I would learn all about it.  I did and was shocked people could be so cruel.  The Urban Dictionary defines it as, “Having a fake Facebook profile, images and avatar in order to lure people to have romantic feelings.”  Read the following article from the NextAvenue.org website for more information.

Flood of Romance Scams Defrauds Older Victims

One recent case is a textbook example of a crook posing as a loving boyfriend

by Steve Bakerromance scams

September 26, 2016

“Behind the headlines about online romance scams victimizing older women and men lie true stories with real victims and perpetrators.

A recent case in point: Olayinka Sunmola, a Nigerian citizen operating out of South Africa who posted fake profiles on a variety of dating sites, including Plenty of Fish, eHarmony and Match, to lure women. When representing himself, he used the real pictures of other people, often masquerading as an officer in the U.S. armed forces. Sunmola claimed he was widowed with a child, and a practicing Christian with a strong faith.

Anatomy of a Scam

After finding victims online, Sunmola, 33, quickly moved them off the dating sites to communicate through Yahoo chat, and attempted to explain his slight accent by claiming he was originally born in Italy or Greece. He spent weeks or months developing relationships with his victims, many of whom lived in Missouri or Illinois. Sunmola often sent them gifts such as flowers or chocolates, and then asked for small sums of money for supposed minor emergencies in order to test the waters with them.

The women were convinced they had found their true love and soul mate. In most cases, Sunmola assured them that they would be married in the near future.”

Read more at http://www.nextavenue.org/romance-scams-defraud-older-victims/

C. Steven Baker recently retired as director of the Federal Trade Commission’s Midwest Region in Chicago, a position he has held since 1988.

Baby boomer generation retirement research

Not Your Mother’s Old Age: Baby Boomers at Age 65

by Rachel Pruchno, Ph.D.

The Gerontologist (2012) 52 (2):149-152

“Nearly 79 million people now living in the United States were born between 1946 and 1964 (Haaga, 2002). In 2011, the first of the Baby Boom cohort reached age 65, and for the next 17 years, close to 10,000 people a day will celebrate their 65th birthday. The generation raised according to Dr. Spock, the generation whose motto once was ‘trust no one over 30,’ now find themselves knocking at Medicare’s door. Baby Boomers redefined each stage of life as they experienced it, modifying fashion design and hair length as well as key societal institutions. They questioned the underlying values and attitudes of society. They influenced education, music, race relations, sex roles, and child rearing. They are about to change what we know about old age.

The Baby Boom generation is significant for its size as well as its distinct social and demographic characteristics. Baby Boomers are more highly educated, more likely to occupy professional and managerial positions, and more racially and ethnically diverse than their predecessors (Frey, 2010). They have higher rates of separation and divorce, lower rates of marriage, and gave birth to fewer children (Hughes & O’Rand, 2004). On average, they are healthier and have longer life expectancies at age 65 (Freedman, Martin, & Schoeni, 2002; Manton, 2008). They have had more varied work histories, longer transitions out of the labor force, and work for more of their adult years (Quinn, 2010) than previous generations.”

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Making your retirement nest egg last as long as you do

Image result for nest egg images
gettyimages.com

How to Avoid Going Broke in Retirement:  

Try these tips for making your nest egg last as long as you do

by Andrea Browne Taylor

May 4, 2016

“It’s no surprise that the biggest worry among retirees is running out of money. People are living longer than ever, yet pensions for life are a thing of the past. While you can’t guarantee your nest egg will last as long as you do, you can take steps to lower the odds of going broke in retirement.

If you’re already retired, spend less. Nearly half of retirees spent more in the first two years of retirement than they did just before retiring. A simple household budget goes a long way.

There are plenty of other things retirees can do to make their money last a lifetime. Take a look at even more ways to avoid going broke in retirement.”

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A clock chime…a loving remembrance

dscn5404When my Dad retired in his mid-40’s, he received a mantle clock with a gold plate inscribed with his name, Jerry D. Oellrich, and the quote, “In Appreciation of Twenty-Five Years of Loyal and Valued Service to the Cargill Companies,” signed by the company president.  This treasured keepsake sat on top of the living room television in the farmhouse I grew up in.  He worked many long hours at Cargill working his way through the union ranks as a maintenance man and electrician to ultimately become a plant maintenance supervisor.  I looked up to my Dad.

In my freshman college composition class I was assigned to write a paper about whom I admired most.  I wrote about my Dad.  He was a hard worker and came from very meager means.  He was from a large, close family and he left high school before graduating to begin working full-time in a factory.  My Dad and Mom married and raised seven children together; all of them girls except the youngest.  He was also a farmer.  In my opinion, he had accomplished a lot with very little except hard work and determination.

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Gray unmarried at a disadvantage?

Unmarried Boomers Confront Old Age: A National Portrait

by I-Fen Lin and Susan L. Brown, Ph.D.

The Gerontologist (2012) 52 (2):153-165

“The proportion of midlife Americans (aged 45–63) that are unmarried has increased by more than 50% since 1980. Today, one in three Baby Boomers is unmarried. The vast majority of these unmarried Boomers are either divorced or never-married; just 10% are widowed. As Boomers move into older adulthood, the unmarried share will grow as married Boomers continue to experience divorce and widowhood.

The marital status of unmarried Boomers matters. In general, divorced Boomers have more economic resources and better health than widowed and never-married Boomers. Among women, widows appear to be the most disadvantaged as they enjoy fewer economic resources and have poorer health than divorced and never-married women. In contrast, never-marrieds are the least advantaged among men. Despite having relatively high levels of education, never-married men have poorer economic circumstances and are most likely to live alone. Divorced and widowed men are comparatively advantaged. Thus, both the marital status composition and gender of unmarrieds are critical to deciphering the potential risks or vulnerabilities facing this growing group of Boomers.”

“The rise in unmarrieds at midlife has significant ramifications for old age.”

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Single ladies

Retirement may be dicey for single women 

Sharon Epperson/Laura Sanicola

March 22, 2016

“Across all age groups, women have substantially less income in retirement than men, according to another report from the National Institute on Retirement Security. For women age 65 and older, their income is generally 25 percent lower than that of men. As men and women age, the gap widens to 44 percent by age 80.

As a result, the study found that women are 80 percent more likely than men to be impoverished at age 65 or older. Additionally, women age 75 to 79 are three times more likely to fall below the poverty level than men in the same age group.

Why the disparity? The gap may stem in part from the fact that women live longer on average than men, said Diane Oakley, executive director of the National Institute. In the United States, a woman turning 65 today can expect to live to more than 86. For men, it’s 84.

Women generally still earn less than men during their working years and that could affect their financial situation down the road, said Andrew Simonelli, director of communications and marketing at the Insured Retirement Institute.”

Read the entire article at: http://www.cnbc.com/2016/03/18/women-more-likely-than-men-to-retire-poor.html

Grandparents Day is this Sunday

Grandparents Day is the First Sunday after Labor Dayimages (4)

“This day has a threefold purpose:

  • To honor grandparents
  • To give grandparents an opportunity to show love for their children’s children.
  • To help children become aware of the strength, information and guidance older people can offer.

History:  In 1970, a West Virginia housewife, Marian Lucille Herndon McQuade, initiated a campaign to set aside a special day just for Grandparents.   Through concerted efforts on the part of civic, business, church, and political leaders, this campaign expanded statewide. Senator Jennings Randolph (D-WV) was especially instrumental in the project. The first Grandparents Day was proclaimed in 1973 in West Virginia by Governor Arch Moore. Also in 1973, Senator Randolph introduced a Grandparents Day resolution in the United States Senate. The resolution languished in committee.

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