Organize and simplify your finances

Managing Your Money in Old Age

Declining financial abilities may not only result in a few unpaid bills but also leave you vulnerable to financial abuse and drain your nest egg.

simplify your finances
iStockphoto

By ELEANOR LAISE, Senior Editor
From Kiplinger’s Retirement Report, April 2017

“After Robyn Downing moved in with her ailing father in 2010, she gradually uncovered a financial quagmire. She found he had eight different checking accounts at four different banks. ‘He was writing a whole bunch of checks’ to charities he’d never supported before, she says, and he hadn’t kept a checkbook register in two years. He owned several rental units, and one of his tenants hadn’t paid any rent in nine months, says Downing, a retired children’s theater director in Gladstone, Mo.

‘He was really being taken advantage of financially,’ says Downing, age 62, who estimates that her father lost roughly $50,000 before she stepped in to help. During the four years prior to her father’s death at age 91 in 2014, Downing consolidated his accounts at one bank, organized the bookkeeping for his rental units and discouraged his habit of giving his credit card number to anyone who called on the phone. ‘What a pain it was to try to straighten things out,’ she says.

Financial capacity—the ability to manage your finances in your own best interest—involves everything from paying bills to reading a brokerage statement and weighing an investment’s potential risks and rewards. And preparing for the potential decline of that capacity is as important as planning for long-term-care expenses or keeping your estate plan up to date. Declining financial abilities may not only result in a few unpaid bills but also leave you vulnerable to financial abuse and exploitation, drain your nest egg, and place heavy burdens on your loved ones.”

Read more to organize and simplify your finances

Vitamin D supplements – Do you need them?

Vitamin D only strengthens bone in those with significant vit D deficiencyVitamin D supplements

May 16, 2017

“An international study of older adults has found that mass, untargeted provision of vitamin D supplements provides little clinical benefit to many when it comes to the common bone disease,  osteoporosis. Instead, the study recommends targeting vitamin D supplements at individuals whose levels of this vitamin are markedly reduced.

The results of the study – carried out by researchers at the University of Auckland, New Zealand, and Harvard Medical School, Boston, MA – were announced today by Professor Ian R. Reid at ECTS 2017, the 44th European Calcified Tissue Society Congress being held in Salzburg, Austria.

Professor Reid said: ‘We know that severe vitamin D deficiency causes osteomalacia, yet trials in the community have not consistently shown that vitamin D supplements improve older adults’ bone density or reduce the risk of fracture. So we set out to determine whether a higher dose of vitamin D influences bone density or whether benefit is dependent on the level of vitamin D already present in the individual.'”

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Wine, olive oil, and afternoon naps…

secret of long lifeThe secret to a long life? It’s all Greek to me

By Diane Carman, The Denver Post

May 12, 2017

“A few years ago, I read about the island of Ikaria in Greece where people ‘forget to die.‘ They routinely live into their 90s, making people all over the world wonder exactly what is their secret.

Most on Ikaria say they stay up late at night and sleep late in the morning. Unemployment is high, so there’s not much pressure to set the alarm clock.

They enjoy a glass of wine with lunch, followed by a lovely nap. They eat lots of fruits and vegetables from their gardens, all dressed with fresh local olive oil, and they shy away from dairy products, except for milk from the neighborhood goats.

In Greece, the secret to a long, healthy life appears simple: wine, olive oil and afternoon naps.

In the U.S., it’s money.

A study released in the Journal of the American Medical Association on Monday identified three Colorado counties — Summit, Pitkin and Eagle — as having the highest life expectancies in the country.

The lowest life expectancies were in Oglala Lakota County, home of the Pine Ridge Reservation in South Dakota and one of the poorest counties in America.

So what is it about the lifestyles of the rich that makes them live longer?”

Read more about the secret of a long life

 

Substitute teaching – a great part time job

substitute teaching
worthschools.net

School is almost out for the summer, so why would I be writing about substitute teaching?  If you’ve thought about working part-time, summer is a great time to prepare to substitute at your neighborhood schools this fall.  If you hold a current teaching license or a bachelor’s degree you can become a substitute teacher.

Most states have a licensing procedure for becoming a substitute teacher if you don’t hold a current teaching license.  Just check the state’s Department of Education website and search for substitute licensing.  In Colorado for instance, you can apply for a one-year, a three-year or a five-year license.  All three of these licenses require the applicant be fingerprinted and results submitted to the state’s Bureau of Investigation. Licensing in Colorado costs $60 for a one-year license and $90 for the three- or five-year license.  The five-year license in-state applicants must hold or have held a Colorado teaching license.  An out-of-state applicant must hold an unexpired (non-Colorado) teaching license.  

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Safety behind the wheel

HealthinAging.org

Testing Driver’s Safety

“When it comes to driving, there is no set age at which people become less safe when they’re behind the wheel. Safety largely depends on the older driver’s physical and mental health, which of course vary widely from person to person. The following issues can be warning signs that suggest that you or an older adult in your care should get tested for their ability to drive safely:

  • Getting lost in familiar areas
  • Ignoring traffic signs and signals
  • Becoming easily agitated or angered when driving
  • Falling asleep or inability to concentrate when driving
  • Reacting too slowly to dangerous situations
  • Forgetting or ignoring driving basics – when to yield right of way, for example
  • Having trouble judging distances

    driver's safety
    insure.com

Several tests and reviews can help determine how safe a driver an older adult may be. If you suspect that an older adult you care for is having difficulty driving safely, consider taking these actions:

  1. Start with a good physical
  2. Have their vision checked
  3. Get a driving evaluation
  4. Consider cognitive testing
  5. Check your state’s rules
  6. Know what medications the older driver is taking”

For more details and resources

Osteoporosis is preventable

Osteoporosis
medicalnewstoday.com

Take steps to improve bone health before osteoporosis becomes problematic

By Dr. Jessica Pennington, Lexington Herald Leader

May 5, 2017

“Osteoporosis is a common bone disease that occurs most often in older adults. It makes bones weak and more likely to fracture due to a deficiency in calcium and vitamin D. Nearly 10 million Americans are currently suffering from osteoporosis. It is important for older adults to take measures to improve bone health and prevent osteoporosis-related injury.

Bones are living, growing tissues that are constantly regenerating. They are structured like a honeycomb, with intricate gaps and spaces. With osteoporosis, the spaces in the bone structure are much larger than in a healthy bone. These bones become porous and less dense, so they weaken and are more likely to fracture.

Osteoporosis often has no symptoms. People with this disease cannot feel their bones getting weaker, and many people do not know they have osteoporosis until they experience a fracture, which most often occurs in the hip, spine or wrist. These can be caused by falling or bumping into an object, or in severe cases, from simple movements like sneezing or hugging.”

Nearly one in two women and one in four men over the age of 50 will break a bone due to osteoporosis.

Read more about improving bone health

Benefits of walking

walking
Photo : Peter Macdiarmid/Getty Images

I try to walk everyday for exercise and weight management.  I even wear a pedometer to keep track of my daily steps.  Now, after reading the following article I will be walking to improve my brain health.

Walking Could Improve Neural Connectivity, Lowering Risk of Alzheimer’s in Older Adults

By John Raphael, Nature World News

May 5, 2017

“A new study led by the University of Maryland School of Public Health revealed that walking interventions could improve the neural connectivity in older adults, potentially reducing the risk of mild cognitive impairment (MCI) or Alzheimer’s disease.

The study, published in the Journal of Alzheimer’s Disease, showed that walking for 30 minutes for four times a week can increase the neural connectivity between the brain’s posterior cingulate cortex (PCC)/precuneus region and other brain regions of patients diagnosed with MCI.

‘The brain’s posterior cingulate cortex (PCC)/precuneus region is a hub of neuronal networks which integrates and disperses signals,’ said Dr. J. Carson Smith, director of the Exercise for Brain Health Laboratory and senior author of the study, in a press release. ‘We know that a loss of connectivity to this hub is associated with memory loss and amyloid accumulation, both signs of MCI and Alzheimer’s.'”

Read more about the benefits of walking