Post retirement living in retirement homes in Whitby

February 14, 2012 By Leave a Comment

Are you going to retire from work soon? If yes then my second question is have you planned your post retirement life? If no then you are making a big mistake. After retiring from work, what will you do? Would you like to sit idle at home doing nothing? With aging, you need to keep your body and mid fit otherwise you will become weak and feeble from inside. A majority of aging couples choose to live at retirement homes in Whitby because the retirement communities provide them an opportunity to remain active and live their life to the full.

Growing old is good if you are a respectable citizen of independent living communities. Retirement homes in Whitby house many senior citizens who want live a carefree life. They love to live between like minded people and do a lot of things including reading, teaching, gardening and making trips to the outside world.

You may ask that what senior citizens get in independent living communities. These communities are small townships where senior citizens get a number of useful facilities including medical care, personal assistance and food and live entertainment. The communities are built far from the hustle and bustle of big cosmopolitan cities to give the senior citizens a peaceful environment.

Retirement homes in Whitby come complete with elegant furniture, high tech equipments including broadband connection and efficient emergency response system. The retirement community has more green area than a regular residential area. Independent living communities are built on green landscape and have more open space for sunshine and fresh air. Senior citizens live like a family in retirement homes and they live a stress free life as they don’t have to worry for work.

If they wish then senior citizens can work from the independent living communities. The community managers host family events, social events, exercise and fitness programs and recreational and religious activities to keep its residents busy.

Retirement homes in Whitby are handicap accessible and resident of the retirement homes take advantage of personal assistance and housekeeping services. Also the senior citizens are provided drinks and snacks throughout the day. To ensure that the senior citizens get medical aid whenever they need, the communities maintain a fleet of ambulances and health staff. The independent living communities are built and furnished with senior citizens in mind and for this reason these communities are just perfect for senior living.  

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The importance of retirement plan

February 10, 2012 By Leave a Comment

Article by Archana

P.V. Subramanyam’s maiden book on retirement is not about understanding how the financial market functions or how to time the market. Instead, it deals with the most unexplored issue of retirement planning. Clearly, the book seems to have hit the right chord as it is a bestseller having sold over 45,000 copies.

A trainer, columnist, blogger and now an author Subramanyam spends a few moments with Cafemutual to talk about retirement planning and how IFAs could incorporate this theme as groundwork for advising clients. Edited excerpts….How did you get the idea of writing this book on Retirement Planning?I was surprised to find many US based books on retirement planning, but nothing in the Indian context, hence the plunge. I was asked by my friends in Moneycontrol to write the way I speak. Around 70 per cent of the book was already written and stored electronically. So I just had to collate it. Given the total absence of social security in India, is the vast majority aware of the importance of retirement planning?Talking about Indians is wrong because there is a huge section of the population that leads a hand-to-mouth existence. But the educated and the upper middle class have earned more than what they would have expected, thanks to the booming economy. But most of their money is parked here and there. They never sat down to plan their retirement. In our culture, we are conditioned to think of life with our children forever, accepting the joint family, and pretending that everything is fine. It suits the government because people invest their money in products that offer around 8 per cent returns. There is no public debate happening on retirement planning.While the rich and upper middle class are earning and saving enough for retirement, are the middle and lower middle classes prepared?No. Many of them are not prepared but they will not accept it because they are happy with the feeling that they have much more wealth than their father. They are content saying ‘My father had only Rs 20 lakh while I already have Rs 75 lakh. How much more will I need?’

What are the risks for the people who are ‘under-prepared for retirement’?Life expectancy has gone up compared to what it was in earlier days. So people live longer and are dependent on children. Medical expenses have gone through the roof. So, not being able to buy adequate medical cover and not having enough money to pay for medical expenses are a cause of concern. Children not having enough money to look after the parents can put the entire family in a tight spot. What about the people in the unorganised and self-employed categories?I do not really deal with this category and hence, not the right person to comment. It is very rare that such people can understand a NAV based product. The most important requirement is financial inclusion and financial education before they can be asked to do a long term SIP.

What are the key challenges according to you in retirement planning?There are four key challenges. First is managing your money. People who claim that they can manage their money actually may muck it up. Second is asset allocation. Too much money is in debt and too little in equity, if there is something at all. The third challenge is rising life expectancy. There is a possibility that a person will outlive his or her savings. And the fourth challenge arises from the absence of long term care insurance in India. This could result in increase in medical expenses.In helping their clients prepare for retirement, should advisors look at the so-called retirement products (Pension plans by life insurance companies, mutual funds)?They should look at normal investment products and depending on the age of the customer, park a chunk of the money into equity plans. If a person is retiring in 2-3 years, there is an inherent risk in the aggressive portfolio. They should not consider pension plans from life insurance companies. The plans from mutual fund are slightly better. But the charge structure of the insurance plans offered by mutual funds might hurt.What investment products in your opinion are best suited for retirement planning? For any goal which is more than 10 years away, it is equity, equity and always equity. For a lesser duration goal, one can have a mix of equity and debt.How can IFAs grow their business by helping clients save for retirement?Almost all clients will want to save for their retirement. Younger clients should be asked to start with smaller amounts in SIPs and as they grow older, increase savings through SIPs in more number of funds. Even for older clients, the shift out of equity should happen only at an age of say 70 years! For the advisor, long term SIPs and long term SWPs will ensure a great trail commission and good leads. Are IFAs using retirement planning as a theme to talk about retirement and investment products?IFAs don’t have a product to sell other than the Templeton India Pension Plan which has a withdrawal lock-in. Even IFAs who are doing big ticket SIPs are not much focused. I don’t think earmarking for a goal based investment is happening. As in the US, retirement planning is nowhere close to becoming a big business in India?The growth in the mutual fund industry in the US happened because of 401k plus schemes (retirement schemes). There is no such plan in India. No mutual fund company in India ever went to the ministry of finance to demand a product which is 80C deductible and a pension plan. The only two firms who did it were Kothari Pioneer and UTI. There is no choice of how to get your money back in pension products of insurance companies. They decide how much money you will get back and you have to buy an annuity. I got an annuity of five per cent from an insurance company. Now that’s miniscule when I can get nine per cent return on a bond issued by leading banks! Buying a good equity fund from a mutual fund company is better than buying a pension plan from an insurance company. What room do you think could be there for products that are sold as retirement solutions by mutual funds? How good are products offered by mutual funds which rebalance the portfolio after you reach a certain age? I don’t know whether the market has the ability to sell such a product. There are very few people selling Templeton’s Pension Plan. The distribution system is still chasing AUM. Not many people are happy to doing an auto pilot mode for 20 years. People think that they can time the market in spite of empirical evidence to the contrary. National Pension Scheme – how suitable is it?It’s too complicated as of now. I am not sure about the fund management expertise. The rates are too fine but I guess it will surely change. If that is not done then good fund managers will not be willing to come in. I am willing to talk about it only after I see its performance for 4-5 years. Also I am not very sure how the annuity will be priced.

Your next book?It is telling doctors about money – Wealth Prescription for Doctors.

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Georgia Franchise Opportunities In Senior Health Care

February 6, 2012 By 19 Comments

Our senior population is growing at the same rate as the need for quality senior care services. Georgia small business opportunities in senior health care abound.

The Health Care business is the single largest industry in the United States, and seniors are the fastest growing segment of the countrys population. There will be 72 million senior citizens in America who will be 65 and older by the year 2030 according to the U.S. Census Bureau. This has given rise for the need to recruit more and more care providers, support staffing, and create additional senior services all over the country. This also means there will be many small business opportunities.

In ten years, in our own state of Georgia, we will have 13 million seniors who will need various levels of health care, and services. Where will they go for assistance? Who will be able to offer advice and care? It could be you. You could be an active participant in the growing senior care business. There are several Georgia franchise businesses that offer franchise business opportunities, but it would be wise to do some research into these senior care franchises.

Health care that is focused on only seniors should include a wide range of services from in-home health care, to finding the senior a fulltime placement in a health care facility. If you would like to enter into the senior care business, you could choose how involved you would want to become by offering a specialized service, such as home health care, or by offering a multitude of senior services.

There are several things to keep in mind while searching for the best franchise business. Find out how long the franchise business has been operating. When searching on the internet, note the position of the franchise in the search results. Successful franchises will be listed in the top ten search results.

List how many services the franchise offers, and compare your list to other senior care businesses. Look for testimonials. If the franchise is successful, the company will want to tell you about their success.

Ask if they offer the option of being franchised in Georgia. Find out if they have a training program and whether the company will offer you support even after the training period.

Check to make sure that their franchise will help you become successful. Some Georgia senior care franchises will assign a well seasoned, local representative to each new franchise owner. These representatives will help you build your health care business so that you will be able to manage on your own in a few months time. Some health care franchises will assign a personal Business Coach to work with you towards developing local marketing strategies, goals and creating targets.

If you find a franchise that meets most of these guideline points, it will probably be the best franchise opportunity in Georgia. You will be able to join the franchise with confidence, knowing you have entered into a small business market that is growing larger every day.

Always Best Care, established in 1994, combines personalized assisted living placements, and in-home services for senior citizens, and they offer the best small business opportunities.

Senator Sanders, along with Senator Franken (D-MN), explains how the Older Americans Act and its preventative senior health measures can actually save money to Senator Rand Paul (R-KY).

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10 Simple Suggestions Towards Maintaining Good Senior Health

February 2, 2012 By Leave a Comment

Article by Ted Prodromou

Senior health needs quite a bit of attention unlike those who are still young and have every part of their body still functioning as it should be. A lot of older people have health issues and concern that need constant monitoring and professional help but if you are caring for your elderly parents and they are still relatively healthy all you have to do is keep them that way. Growing old is already uncomfortable in itself, it slows them down, makes them dependent and lets them lose control, how much more if they are sick. Thus, here are 10 simple suggestions that you can consider for maintaining good senior health:

1. Schedule and keep regular trips to the doctor – As the body grows older it becomes more susceptible to a number of illnesses, given this, prevention is always the key. If the doctor will be able to detect early signs of health deterioration it could be readily treated or addressed.

2. Encourage your parents to make exercise part of their daily routine – Be it young or old, exercise provides amazing over-all health benefits that is why you need to ensure that your elderly parents have periods of mobility. You can enroll them in senior exercise classes or take them for early morning walks.

3. Make sure that your parents eat a healthy balanced diet – You may need to check on nutrition experts to have an idea of the list of food that are best for them and follow this list.

4. Help them quit their bad vices – Smoking, drinking, and other unhealthy lifestyle need to go as we age so if either one of your parents have problems with the said vices you need to find ways to get rid of the bad habits.

5. Regularly check for cholesterol level – Keeping cholesterol level in the body in check can significantly decrease the risk of heart disease.6. Schedule a yearly mammogram for your elderly mother and prostate exam for your father- These clinical procedures will not prevent the onset of certain diseases but it will help in early detection and cure.

7. Have your elderly parents take annual colorectal cancer screening test – This procedure, same as above, will help in early detection and cure.

8. Accompany them to regular diabetes screening – Diabetes is one of the more risky and deadly diseases because of the complications that could stem from it. Keeping sugar level on the average will lessen the risk of heart disease and stroke.

9. Send your elderly parents to regular blood pressure check – This test will help avoid more serious diseases like stroke, hypertension, and heart complications.

10. Be alert on warning signs of failing health – You should always be attentive so that you can readily see and address symptoms of failing health.

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Making Long term Care Insurance Affordable

January 21, 2012 By Leave a Comment

Article by Laura Rossman

Making Long term Care Insurance AffordableMore choices

By Laura W. RossmanIquote.com

If you’ve looked at long term care insurance in the past but didn’t buy, it is time to take another look. There are ways to structure coverage that might be just right for your budget. And now that the government has backed away from creating a government backed plan (the CLASS Act), you are on your own to pay the costs of care.

The average age of a long term care insurance buyer is 58 compared to 70 years old just ten years ago. At a younger age the premiums are lower and there is a greater chance that you will be healthier and eligible for the insurance coverage.

Long term care insurance covers the cost of your care when you can’t care for yourself. While we tend to think of that happening in our later years, it can happen at any time as a result of an accident or medical condition. The costs of long term care–which is custodial care – is not generally covered by Medicare or health insurance. So unless you have long term care insurance or are impoverished and eligible for Medicaid, you will be paying for these costs out of your own savings. To put those costs in perspective, the average cost of a year in a nursing home is ,239, according to the 2011 MetLife Market Survey of Nursing Home and Home Care Costs.

More Ways to Buy

Here are some things you should know about long term case insurance plans and some tips for finding ways to fit this cost into your budget if you think it’s right for you.

It is not just for nursing home care. Almost all policies cover care provided in assisted living facilities, nursing homes and at home. And home is where people say they want to receive care. And if you need round the clock care at home, you will find it more costly than a stay in a nursing home.

Sharing a policy. Couples can take advantage of “share care” plans. How does this plan work? Rather than buying two separate policies, the couple purchases a single plan with a pool of benefits that they share. While these plans are slightly more expensive (usually about 10%), they provide greater flexibility by letting the couple share the pool of benefits.

Insuring part of the risk. You don’t have to cover the full cost of care. Instead, let insurance pick up part of the cost of care and use your own financial resources to pay for the remaining costs. For example, if you purchase coverage that would pay 0 per day. If your care cost 0 per day, you would pay the remaining .

Tax benefits. Some states provide tax incentives to encourage individuals to purchase this insurance. Why? Without long term care insurance coverage or personal financial resources, you will enter the Medicaid program, a program to provide health care for the poor funded jointly by the state and federal government.

Business owner benefits. If you are self-employed or own your own business, long term care insurance premiums may be able to be paid for by the business. Some small business owners find a ten-pay policy preferable, where the policy is paid in full over ten years.

Partnership policies. One long term care insurance benefit comes from the government. Many states have “partnership policies” that encourage consumers to purchase long term care insurance in exchange for partial protection of their assets if they use up all of their long term care insurance benefits.

Discounts. Always ask about discounts. Many long term care insurance companies provide significant discounts for a couple applying together. And some groups and professional associations have discounted rates available if you are a member. Your employer may also have a group plan available. But always shop and compare group plans against individual policies to make sure you are getting the best plan for the best price. Longer term care insurance rates are based on age and health, so the younger you are and the healthier you are, the lower your premiums.

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Long-Term Care Planning (Full Presentation)

January 13, 2012 By Leave a Comment

Long-Term Care Planning (Full Presentation)
Video Rating: 5 / 5

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Retirement living in the Sunshine State: St. Petersburg, Florida

January 9, 2012 By Leave a Comment

Article by Alyson Dunn

St. Petersburg, Florida ranked number seven out of 25 for the ’25 Best Places to Retire’, and for great reasons. Not only are there incredible beaches, constant sun, golf, fine dining, culture, and much more, but St. Petersburg is an ideal place for retirement living.

Just because you’re retiring doesn’t mean the fun should come to an end! The city is the cultural heart of Central Florida. With museums, performing arts, music, and much more, you can feel youthful at any age! The famous Salvador Dali Museum, which displays the world’s largest collection of the artist’s works, is a must see. Also well-known is the Museum of Fine Arts, which features oil paintings from Monet, Morisot and Georgia O’Keeffe, as well as Roman sculpture and other relics. The Holocaust Museum is an additional place to visit and learn about the importance of World War II and the Holocaust.Now you ask…where to live? With homes starting at under 0,000 many people can afford to retire in sunny St. Petersburg, and who wouldn’t want to enjoy retirement living in beautiful Florida? Some important and great information, Florida has homestead exemption statutes that lessen property taxes owed by homeowners. Also, there is no state or local personal income tax, and no estate tax.With 234 miles of waterfront property, the area offers wonderful opportunities for living out your dream of retiring in beautiful St Petersburg. Whether you want to live on the water, or in one of the 70 neighborhoods, the choice is yours. Retirement living has never been easier in St. Petersburg, Florida.

There are many water activities to partake in while benefiting from retirement living in St. Petersburg, Florida. Kite-boarding is the newest rage, although many retirees may be skeptical. For those adventurous and brave people, kite-boarding is something fun to experience. Don’t forget about leisurely sailing, swimming, and just relaxing on the beach. The best beach to visit is Ft. DeSoto Beach, just off of St. Petersburg’s southern tip. It’s named the number one beach in the United States, and probably because it offers more than just a “beach”. Ft. DeSoto includes a year-round campground, miles of nature trails, 2.25 miles of canoe trail, fishing piers, and picnic pavilions. With 360 days of sunshine, St. Petersburg offers great weather for water activities while living out your retirement dreams in St. Petersburg, Florida.When it comes to food and dining, the city has a great selection of cuisine. Being near the water has more benefits than just beauty and serenity. The seafood here is delicious and fresh, as is citrus fruit and strawberries. Fresh caught fish and seafood is served up at many local eateries, so take your pick and dig in!Making a choice to retire and enjoy living in St. Petersburg, Florida is a great idea. With the culture, weather, events, activities, and great prices on beautiful homes, living in the ‘Sunshine State’ is THE place for retirees, for anybody actually. Just remember to stock and lather up the sunscreen; you’ll be needing it!

GlenWood Park Retirement Village

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What Specifically is Long Term Care Insurance?

January 5, 2012 By Leave a Comment

Article by Cary Mcdonald

Long term care insurance is an insurance policy that will cowl your medical expenses not covered by any of your alternative medical insurance plans within the event you would like long term care. Long term care is care that’s provided to you when you’ll be able to not do the needed functions for daily living. When individuals think of care they usually think of nursing homes, and although this could still happen in some cases, there are a number of other choices currently that weren’t accessible years ago. Future care will be provided in your home and inside your community during a heap of situations.Who Provides Long Term Care In My Home?If you are ready to remain in your home then there are many ways long run care will be provided. Although many people assume that their long term care will be provided for by relations things have modified during the last 30 years or so, and this isn’t continuously potential anymore. Many families are smaller than they were 30 years ago and scattered everywhere the planet, creating providing care nearly impossible.Also, in the bulk of families nowadays, both parents have to figure just to create ends meet. That doesn’t forever enable for the time and care needed for long term care. There are other options but, such as an in home care giver who can take care of your basic wants such as eating, cooking, cleaning, laundry and bathing. Then there’s the visiting nurse if you wish assistance with all or any of your medical care. There is additionally transportation that can assist you in getting to and from your doctor appointments, community activities and different places you wish to go to maintain a sensible quality of life.What is Not Coated by Long Term Care Insurance?All policies will vary relying on the amount of coverage you choose and what plan is best suited for you. There are plenty of things to check for when selecting a policy. Several policies can exclude coverage for any long run care wants related to Alzheimer’s. Since this can be a disease that is mainly found in seniors you will wish to look for a policy that can cowl future care that’s a results of Alzheimer’s.Other common long care insurance policy exclusions include drug and alcohol connected long run care, an acts of war, self inflicted injuries or suicide. Some long run care insurance policies can also exclude any pre existing conditions fully or for 6 months once the purchase of a replacement policy. This can be specifically why it is best to buy your care insurance policy as early in life as attainable whereas you are doing not have any pre-existing conditions that can either result your premiums or complete disqualify you from getting insurance. Whereas not all long term care policies exclude these problems it’s prompt that you ask what precisely is roofed or excluded before you get your long run care insurance policy.What If Can’t Afford Long Term Care Insurance?With several insurance firms you have got the ability to choose what coverage or how much coverage you’ll be able to afford. This means that you’ll be able to opt out of sure coverage or lower the amount of coverage you have. For example, if normal care insurance can cover $ one hundred fifty per day of long term care however you’ll be able to not afford the premiums for that you’ll be able to opt to have your insurance policy solely cowl $ one hundred twenty a day. This will decrease your premiums and make them more manageable in your daily life. Whereas you’ll have less coverage you opt that it’s enough that if you are doing want long run care in the longer term you will not have a giant amount of out of pocket expenses. This enables you to decide on not solely the best policy and coverage, but conjointly an insurance set up that can fit into your budget.Compare Multiple Long Term Care Insurance CompaniesWhereas you will suppose that one particular insurance company may be a smart alternative for your long term care insurance <http://www.longtermcareinsuranceaxis.com> needs but be sure and compare rates and plans from several completely different firms before you purchase.

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