CONTENTS
SPONSOR OF THIS ISSUE
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A1. SHOULD A FINANCIAL PLANNER BE IN YOUR FUTURE?
A2. MODERN TECHNOLOGY TAKEN TO TASK
B. DID YOU KNOW...?
C. THOUGHTS FOR THE MONTH
D. SPECIAL OCCASIONS THIS MONTH
E. SPECIAL SURFING SITE
F. OH MY AGING FUNNY BONE
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A1. SHOULD A FINANCIAL PLANNER BE IN YOUR FUTURE?
Has the turmoil experienced on Wall Street, Washington and the world's
other financial capitals upset your financial well-being? For most of
us the answer is probably yes. Hence, the normal New Year's review of
your situation and plans takes on added significance. While managing your
finances is ultimately your responsibility, getting some help may be the
right move. A qualified and knowledgeable financial expert can help maximize
your financial resources by helping to generate a plan and then seeing
it through execution and success.
The cornerstone to financial success is to have a solid plan and approach.
The key elements to a plan are:
- Set realistic goals. They may cause you to reach,
but they must be reasonably attainable.
- Determine your current financial status, including
income, liabilities, assets and expenses. Don't forget to consider your
estate plans.
- Address financial weaknesses and strengths as you
generate your plan.
- Implement your plan. Most importantly, monitor
the plan results often.
- Stay alert for changing economic and legislative
changes that may influence your results.
Consider the following issues as you decide whether you should engage
a financial planner.
- Do you have both the time and the expertise to
do the planning and execution?
- Would an objective third-party look provide a sounder
plan? It would certainly help with emotional or difficult decisions.
- Can you stay focused to execute your plan through
tough environments?
- Do you have some special financial needs brought
on by the following situations?
- Assuring your money will last
- Rolling over a retirement plan
- Inheritance issues
- Marriage or divorce issues
- Significant illness
- Family business to consider
When selecting a qualified financial planner, take a hint from a study
by the Wall Street Journal (10/4/2008) that showed that the following
planner qualities were very important.
- Works in your best interest;
- Understands financial situations and goals;
- Is available and responsive;
- Is willing to listen and discuss ideas;
- Provides periodic assessment of plan goals and
progress.
Additional financial information for seniors can be found at:
http://www.seniorresource.com/finance.htm
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A2. MODERN TECHNOLOGY TAKEN TO TASK
Had it with modern technology and the shortcuts that seem to make everything
more complicated?
Well, with a bit of humor, why not try to get even? The offering below
about the over-mechanized joys of banking as experienced by a consumer
should give you pause to consider how you will approach similar situations
in the new year. Shown here is an actual letter that was sent to a bank
by an 86-year-old woman. The bank manager thought it amusing enough to
send it to the New York Times, which published it!
"Dear Sir:
I am writing to thank you for bouncing my check with which I endeavored
to pay my plumber last month.
By my calculations, three nanoseconds must have elapsed between his presenting
the check and the arrival in my account of the funds needed to honor it.
"I refer, of course, to the automatic monthly deposit of my entire
pension, an arrangement that, I admit, has been in place for only eight
years. You are to be commended for seizing that brief window of opportunity,
and also for debiting my account $30 by way of penalty for the inconvenience
caused to your bank. My thankfulness springs from the manner in which
this incident has caused me to rethink my errant financial ways.
"I noticed that whereas I personally answer your telephone calls
and letters, when I try to contact you, I am confronted by the impersonal,
overcharging, pre-recorded, faceless entity that your bank has become.
From now on, I, like you, choose only to deal with a flesh-and-blood person.
My mortgage and loan repayments will therefore and hereafter no longer
be automatic, but will arrive at your bank, by check, addressed personally
and confidentially to an employee at your bank whom you must nominate.
"Be aware that it is an offense under the Postal Act for any other
person to open such an envelope. Please find attached an Application Contact
which I require your chosen employee to complete. I am sorry it runs to
eight pages, but in order that I know as much about him or her as your
bank knows about me, there is no alternative. Please note that all copies
of his or her medical history must be countersigned by a Notary Public,
and the mandatory details of his/her financial situation (income, debts,
assets and liabilities) must be accompanied by documented proof. In due
course, at MY convenience, I will issue your employee with a PIN number
which he/she must quote in dealings with me.
"I regret that it cannot be shorter than 28 digits but, again, I
have modeled it on the number of button presses required of me to access
my account balance on your phone bank service. As they say, imitation
is the sincerest form of flattery.
"Let me level the playing field even further:
When you call me, press buttons as follows:
IMMEDIATELY AFTER DIALING, PRESS THE STAR (*) BUTTON FOR ENGLISH.
#1 To make an appointment to see me;
#2. To query a missing payment;
#3. To transfer the call to my living room in case I am there;
#4. To transfer the call to my bedroom in case I am sleeping;
#5. To transfer the call to my toilet in case I am attending to nature;
#6. To transfer the call to my mobile phone if I am not at home;
#7. To leave a message on my computer, a password to access my computer
is required. Password will be communicated to you at a later date to
that Authorized Contact mentioned earlier.
#8. To return to the main menu and to listen to options 1 through 7.
#9. To make a general complaint or inquiry. The contact will then be
put on hold, pending the attention of my automated answering service.
#10. This is a second reminder to press * for English. While this may,
on occasion, involve a lengthy wait, uplifting music will play for the
duration of the call.
"Regrettably, but again following your example, I must also levy
an establishment fee to cover the setting up of this new arrangement.
"May I wish you a happy, if ever so slightly less prosperous New
Year?
"Your Humble Client,"
(Again: This was written by an 86-year-old woman.) 'YA JUST GOTTA LOVE
THEM SENIORS'! And remember: Don't make old ladies mad. They don't like
being old in the first place, so it doesn't take much to set them off.)
Please note that the event which triggered this letter (i.e., a bounced
check) is more the customer's fault than the bank's. One should always
verify with their bank that the account holds sufficient funds before
issuing a check.
Additional seniors' Aging Process information can be found at:
http://www.seniorresource.com/ageproc.htm
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B. DID YOU KNOW...?
New Tuskegee Historic Museum
In the 1940's, Tuskegee, Alabama became home to a "military experiment"
to train America's first African-American military pilots. In time the
"experiment" became known as the Tuskegee Experience and the
participants as the Tuskegee Airmen. The National Park Service has opened
the Tuskegee Airmen Historic Site. At this facility visitors can explore
the accomplishments of over 10,000 men and women of the "Tuskegee
Experience." The Tuskegee Airmen National Historic Site museum is
in one of the original hangars at Moton Field. The visitor center houses
exhibits and a 25-seat auditorium where five historic films that show
different aspects of the Tuskegee Airmen Story. Also included are displays
that cover the stories of the civilian pilot training program at Tuskegee
Institute. This federally funded program was the precursor to military
pilot training at Moton Field.
For more information on the new historic site,
visit the National Park Service's Tuskegee Airmen: http://www.nps.gov/tuai/
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Your Health Plan Knowledge
To avoid surprises when you need benefits, it is wise to review your
health plan ahead of time. Three main topics should be reviewed.
- What your plan covers.
"Covered services" usually include medical benefits, medications,
treatments and tests. Be sure to assess the "not covered"
items to avoid surprises. If your plan has "preferred providers,"
using them will generally save you money.
- What your costs are. The following costs
should be understood: premiums, deductibles, coinsurance, and co-pays.
Your out of pocket expenses may also include, doctors, hospitals, out
of system providers, emergency and after-hours care.
- What rights do you have. You should understand
the appeals process for charges that you believe should be covered.
This should be addressed by the plan handbook or online.
A medical insurance information file should be easily accessible. The
file should include plan paper work, letters about plan changes, claim
information, and records of phone conversations. In addition, the file
should also have your plan representatives' and customer service representatives'
names and contact information. An excellent way to assure the file is
available when needed and that your caregivers have access to it is to
use a digital storage device like Seniorresource.com offers.
See it at: http://www.seniorresource.com/maine.htm#medrec
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C. THOUGHTS FOR THE MONTH
We present here some words from those with a birthday this month.
Eli Manning - "I never try to be something
I'm not,"
Joan of Arc - "Act, and God will act"
Carl Sandburg - "I am an idealist. I don't
know where I'm going but I'm on my way."
Loretta Young - "I think making mistakes is
as inevitable as receiving disappointments."
Michael Stipe - "My feeling is that labels
are for canned food...I am what I am - and I know what I am."
More "Thoughts" at: http://www.seniorresource.com/thought.htm
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D. SPECIAL OCCASIONS THIS MONTH
1. Family Fit Lifestyle Month
Less than 25% of adolescents eat the daily recommended servings of fruits
and vegetables. Few get regular physical activity. While seniors and caregivers
are aware of the importance of healthy eating and physical activity habits,
they struggle with the best way to implement them. With obesity rates
rising among the population, it's important to receive information and
realistic tips for making and sustaining healthy nutrition choices.
The focus of Family Fit Lifestyle Month is to encourage proper nutrition
and physical activity for families, emphasizing that a bright future starts
with a healthy lifestyle. The notion that "Good Nutrition Can Lead
to Great Things" reinforces that healthy eating and physical activity
are fuel for one's mind and body.
To learn more visit: http://www.MyPyramid.gov
and use the USDA's Food Pyramid as an effective tool to help make healthy
choices.
The ADA is the source for diabetes information. Call 1-800-DIABETES (342-2383)
or visit http://www.diabetes.org
for information and materials.
2. Financial Wellness Month
An estimated 1.8 million families will face foreclosure this year. Not
only do foreclosures have a disastrous financial impact on a family, but
they also have harsh consequences for entire communities. Just one or
two boarded-up homes can send a residential block into a downward spiral,
driving down property values and leading to increased crime, rundown schools,
and flagging economic growth.
Studies show that roughly 50% of delinquent borrowers avoid contact with
their lender, hoping the problem will just "go away." Further,
more than six in ten delinquent homeowners are not aware of services that
mortgage lenders can offer a person behind in their mortgage.
This month's focus encourages homeowners at risk of losing their homes
to call 888-995-HOPE, where they will find quality counseling and financial
advice from a trusted, third-party nonprofit on the opportunities available
to avoid foreclosure.
Here are some keys to "Financial Wellness"
- Educate yourself on financial issues;
- Use the counsel of wise individuals;
- Plan major expenditures;
- Live beneath your means;
- Treat your savings as your "first creditor": pay yourself
first;
- Fund company-sponsored savings plans to the maximum;
- Regularly review your financial progress.
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E. SPECIAL SURFING SITES
Veterans' Benefits Online
Veterans, survivors, and other claimants can apply online for disability
compensation and enrollment in the Department of Veterans Affairs' (VA)
health care system, or for nursing home, domiciliary or dental benefits.
VONAPP is an online system that allows veterans to fill out forms and
apply online for various benefits offered by the U.S. Veterans Benefits
Administration. The online form can be found at https://www.1010ez.med.va.gov/sec/vha/1010ez/
Ask the VA to help you fill out the form by calling or visiting a VA
health care facility. Look in your telephone book under "United States
Government, Veterans" to locate your local VA health care facility.
Or call VA's Health Benefits Service Center toll-free at 1-877-222-VETS
(8387).
Before you call or go to the VA health care facility, gather the necessary
materials identified in Step 2 of the instructions. This includes data
on your insurance, employment, military service, financial status, and
dependents.
Email for Seniors
Would you (or your loved one) like to receive emails without a computer?
There is a service and device that can fill the bill. It is focused primarily
at those not comfortable with computers or smart phones. It allows the
receipt of email, and even photo attachments. The drawback is that this
system is one-way -- users can receive email and pictures, but can't send
them. The name of the service is Presto. It uses a special printer that
connects to a phone line, not broadband. You receive a Presto email address,
and any emails and photos sent to you can be printed out. Get your email
message printer at: http://www.seniorresource.com/SRBaz.htm
You'll find it as the last item in Gifts for Seniors."
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F. OH MY AGING FUNNY BONE
For Those Who Love The Philosophy Of Ambiguity
DJG, Newark, NJ
- What do you do when you see an endangered animal
eating an endangered plant?
- If a parsley farmer is sued, can they garnish his
wages?
- Would a fly without wings be called a walk?
- Why do they lock gas station bathrooms? Are they
afraid someone will clean them?
- If a turtle doesn't have a shell, is he homeless
or naked?
Zen Humor
- If you lend someone $20 and never see that person
again, it was probably worth it.
- If you tell the truth, you don't have to remember
anything.
- Some days you're the bug; some days you're the
windshield.
- Everyone seems normal until you get to know them.
- The quickest way to double your money is to fold
it in half and put it back in your pocket.
"Oh My Aging Funny Bone" is at:
http://www.seniorresource.com/jokes.htm
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This issue has been edited by Betsy Day (betsyjday@aol.com).
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