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Senior Citizen Information – The Social Security Funding Problem by Glen Jensen

September 2, 2013 by · Leave a Comment
Filed under: Articles 

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The Baby Boomer generation will begin taking early retirement in 2008. In 2011 they will approach the traditional retirement age of 65. As more and more Baby Boomers retire they will put a tremendous strain on the Social Security system. So far, no significant changes have been implemented to lessen the impact Baby Boomers will have on the Social Security system. The longer any action is delayed the more drastic the changes will be. Will these changes affect you? If you were born between 1946 and 1964, then you are officially a Baby Boomer and will probably be impacted by the Social Security funding problem.

The current and projected future financial status of the Governments’ trust funds is presented in the “The 2007 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds (OASDI).” The good news is that the Social Security Administration (SSA) states that there are no plans to reduce benefits for current retirees. In fact, benefits for current retirees are scheduled to continue growing with inflation. However, the 2007 OASDI Trustees Report also states, “Social Security’s combined trust funds are projected to allow full payment of scheduled benefits until they become exhausted in 2041. This means that unless changes are made soon, benefits for all retirees could be cut by 26 percent in 2040 and continue to be reduced every year thereafter. If you are “younger” senior citizen or a want to-be senior citizen, this is not good news

The Trustees of Social Security, the Comptroller General of the United States and the Chairman of the Federal Reserve Board have said, the sooner we address the problem, the smaller and less abrupt the changes will be. The independent, bipartisan Social Security Advisory Board has also said: “As time goes by, the size of the Social Security problem grows, and the choices available to fix it become more limited.” Addressing the problem now will allow today’s younger workers planning for their retirement to have a better assurance of the future of Social Security. The problem has not been addressed as of 2007.

If Social Security is not changed we have a limited number of options in the future. The options are to increase payroll taxes, reduce the benefits of today’s younger workers or borrow from the general fund. Social Security’s Trustees state, “If no action were taken until the combined trust funds become exhausted in 2040, much larger changes would be required. For example, payroll taxes could be raised to finance scheduled benefits fully in every year starting in 2040. In this case, the payroll tax would be increased to 16.65 percent at the point of trust fund exhaustion in 2040 and continue rising to 17.78 percent in 2080. Similarly, benefits could be reduced to the level that is payable with scheduled tax rates in every year beginning in 2040. Under this scenario, benefits would be reduced 26 percent at the point of trust fund exhaustion in 2040, with reductions reaching 30 percent in 2080.”

Social Security was never meant to be the sole source of income in retirement and that especially applies to the Baby Boomer generation. It is often said that a comfortable retirement is based on a “three-legged stool” of Social Security, pensions and savings. American workers should be saving for their retirement on a personal basis and through employer-sponsored or other retirement plans. If a Baby Boomer is not preparing for retirement with a pension and/or savings to supplement their Social Security benefits, they will have to delay retirement or continue working part-time.

Glen Jensen is a writer for [http://www.SeniorCitizenDirectory.com] which is a site that provides Senior Citizen Information.

Article Source: http://EzineArticles.com/?expert=Glen_Jensen

Senior Citizens and Pets by Kay Catlett

April 29, 2013 by · Leave a Comment
Filed under: Articles 

As baby-boomer pet parents reach retirement age it is common to think about  putting aside the dog collars, pet clothing and dog harnesses and retire from  being pet parents. This is especially common as a beloved pet may die. The usual  questions of a grieving pet owner are magnified by older pet owners. The only  real questions with younger owners concerns whether or not they miss the joy of  pet ownership and whether they still possess the desire to take on the  responsibility of another pet. As the pet parent ages, more questions have to be  asked. The age and health of the human along with whether or not the needs of  particular pets can be managed are the most important questions for aging pet  parents.

The primary question concerns whether or not a pet is beneficial for aging  people.

Many seniors crave and miss nurturing. Often, a lifetime of nurturing has  defined a person, first as a parent, friend, spouse or grandparent. With  children and grandchildren growing older, nurturing may no longer required on a  personal basis. Senior citizens may find the circle of friends narrowing as  interests change, people retire and move, and activities lessen. Having a pet to  nurture, and providing that pet with food, comfort, exercise, toys, play and  companionship can fill the void in a changing life.

As the years pass, people may find their lives boring and lonely. Having a  pet cat or dog can fill this void. Taking care of a pet can provide meaning and  provide positive feelings of caring for another being. A pet can provide  structure missed by people following the routine of working outside of the home.  Caring for a pet provides some structure: time to eat, time to play and go  outside, time to be combed, time for naps. At the same time, the pet parent has  a role: to take care of the pet. This sense of responsibility provides structure  as well as a sense of being needed.

Another plus for seniors to have dogs, is for the protection a dog can give.  Seniors are often prey for intruders since the resistance of a senior citizen is  perceived as being lower and often it is known that there are less people living  in the home. However with a dog, the fear of barking or being bitten inhibit the  activities of intruders to that home. Research shows that homes with barking  dogs are violated fewer times than homes without dogs. Dogs provide safety to  seniors.

Another benefit of a senior owning a dog is that it makes them more active.  Owning a dog will compel the senior to live a more active lifestyle then if they  are by themselves. The dog will need to go outside to use the bathroom; feeding  and grooming must take place. These simple activities will give the owner  exercise. Matching the activity needs of the pet to the activity level of the  owner is an important factor to consider in deciding what kind of pet or breed  is best for both the senior and the pet.

Aging pet parents need to think about the future of their pets as time goes  on. A plan for pet care should be arranged so that if a hospitalization is  necessary, or a period of recovery in the home should occur, the needs of the  pets need to be met in those circumstances. Pet care in the home of another,  kennel care or acquiring the assistance of others to provide assistance in the  home are all necessary elements of a pet care plan. Pet parents of every age,  but especially senior citizens need to investigate alternatives in the dire case  of having to give up the pet. This author strongly suggests that “no-kill” pet  shelters need to be listed in the plan in the direst situations.

Overall, a senior owning a pet is an excellent idea. Dogs and cats provide  excellent companions and safety to senior citizens. Studies show that seniors  with pets are happier and live longer then seniors without pets. Preparing the  home properly with crates, dog collars, cat harnesses and pet beds coupled with  preparing plans for all contingencies will make for happy seniors and their  happy pets.

Kay Catlett [http://www.PetCollarStoreAndMore.com]

I believe that as we are humane to our pets, they make us more human. My  online pet store has carefully selected products at competitive prices.

I welcome your input on what products you like and want me to  carry.

Article Source: http://EzineArticles.com/?expert=Kay_Catlett

 

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