How Long-Term Care Ombudsmen Help Residents in Care Facilities

Posted by on Feb 28, 2014 in Uncategorized | 0 comments

A long-term care ombudsman is an advocate for people who live in nursing homes, assisted living facilities, boarding homes and other types of adult care facilities. Ombudsmen work to solve problems experienced by individual residents as well as to bring positive changes to state, national and local levels to bring up the quality of care. Although many people receive quality care in nursing homes and similar facilities, there are others who are neglected and even abused. Abuse may be physical, mental or emotional. Ombudsmen look for signs of abuse in residents when they visit these facilities regularly. Their job is to monitor the conditions of long-term care facilities and be the voice for the people who do not have the ability to express their concerns. Many people who are abused have suffered strokes, have dementia or have other conditions that make it hard or impossible for them to communicate their needs and concerns. This organization started in 1972 as a demonstration program. Today, it exists in every state under the Administration on Aging’s Older Americans Act. The ombudsmen work on behalf of hundreds of individuals in their communities. In 2011’s fiscal year, there were more than 12,000 volunteers. Of this number, more than 9,000 were certified to perform investigations following complaints. More than 1,000 staff worked in long-term care programs in over 550 nationwide locations. They worked to investigate and resolve over 200,000 complaints made by more than 130,000 people. They also provided information to people about their rights, care options and other services they qualified for more than 400,000 times. An ombudsman helps residents in long-term care settings and their families understand and exercise their rights, which are guaranteed by state and federal laws. For residents, these rights include: – They have the right to be treated with dignity and respect. – They have the right to refuse physical or chemical restraints. – They have the right to voice their own concerns without fear of retaliation. – They have the right to control their own finances. – They have the right to communicate privately with anyone they choose. – They have the right to have their personal records kept confidential. – They have the right to send and receive mail. – They have the right to be informed of their rights prior to admission. – They have the right to apply for assistance without discrimination. – They have the right to be notified of discharge or transfer. Ombudsmen have several important responsibilities, which are outlined in the Older Americans Act in Title VII. These include the following: – They must investigate and resolve complaints made by or for residents. – They must represent residents’ interests before governmental agencies....

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How Terrorist Attacks Affect Investors’ Portfolios

Posted by on Feb 28, 2014 in Uncategorized | 0 comments

The Dow Jones Industrial Average closed on September 10, 2001 at 9,605.51. After the devastating terrorist attacks the next day, the market did not reopen until September 17, 2001. When it did open, the DJIA hit a low of 8,755.46, and the market was unable to rebound for one month. That day reflects one of the most extreme instances of the effects of terrorism on individual stocks. The attack happened just blocks away from the New York Stock Exchange, which meant the location had to be closed due to damages and security concerns. However, these attacks do not have to take place in financial centers to hurt the stock prices and market confidence. Acts of terror can affect a person’s portfolio, but there are several ways investors can protect their finances from the effects of future terrorist attacks. Terrorism Targets Financial institutions, oil fields and other strategic assets are usually targeted in terrorist attacks. For this reason, brokerage headquarters and major banks have beefed up their security to prevent attacks. These are not the only types of firms that are impacted when attacks occur. Recent research shows that terrorist-related attacks aimed at individual companies resulted in an average loss of $401 million in market capitalization. Terrorism Reactions The reaction to attacks is usually based more on emotions than facts. Although a brief period of halting imported oil is not likely to raise the entire world’s prices, the threats and rumors of attacks may cause prices to spike if people fear the worst. Rising oil prices usually lead to concerns that industries such as car companies and airlines will raise their prices for consumers. When this happens, the effects spill over into the stock market. Since terrorist attacks have a large impact on financial institutions and oil companies, concerned investors should ensure their portfolios are diverse. If a portfolio has nothing but major car company shares or shares in other oil-related companies, it will likely be affected by terror threats or attacks. Target Stocks There are several different industries that are likely to experience price movements following terrorist attacks. The following are included: – Gas and oil companies are impacted. Interruption in supplies may be a threat to profits and revenue. If concerns about the lowered supply do not materialize into a long-term problem, the supply and demand may still rise. In such a case, these companies would be hurt by the interruptions. – Airline shares can possibly be ruined by terrorist attacks if an attack hurts public confidence about traveling. If service interruptions are long enough, they can result in Chapter 11 filings. For an industry that is already hurting, terrorist threats can be devastating. – The auto industry...

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WINDOW ON WALL STREET: Are you ready for retirement?

Posted by on Feb 27, 2014 in Uncategorized | 0 comments

The Pew Research Center, a nonpartisan think tank, provides information on social issues, demographic trends, and public opinion in the United States and worldwide. Lately, Pew Center has looked at baby boomers. Pew found they are retiring in record numbers in recent years, 10,000 of them a day, Pew estimates. In a Pew Research study Baby Boomers Approach 65 — Glumly, about 21 percent say their own standard of living is lower than their parents’ was at this age they are now; among non-Boomers only 14 percent feel this way. Among all age groups, Boomers are the most likely to say they lost money since the current recession began. Boomers are also the most likely to say their household finance have worsened and so have cut spending in the past year. More disturbing, Boomers ages 50 to 61 who are now approaching the end of their working years, six-in-ten say they may have to postpone retirement. There are employment statistics which show the older workforce is growing more rapidly than the younger workforce. Baby boomers want to know if they can retire, when they can retire, how much they can withdraw from their portfolio with confidence they will not outlive their money. Let’s assume there is insufficient wealth to support retirement as Pew Center indicates, then what should a Baby Boomer do? The first considerations are: • Develop a budget that adjusts expectations and changes financial behavior; • See if wealth can be improved or increased; Some specific steps include: • Determining how much of their monthly fixed expenses can be covered by fixed income solutions and products; • The 4 percent safe portfolio withdrawal rate is at best a goal and is not an absolute standard any longer due to market volatility and low bond yields; • Key variables include portfolio size, portfolio return, savings rate (current and future), living expenses, income taxes (federal, state, and local), number of years to retirement, and the withdrawal rate. Longevity is the main driver which impacts all income planning considerations. These considerations are multilayered, dynamic as opposed to a simple formulation such as the 4 percent withdrawal rule. A simple way to look at income, expenses, and withdrawal rates whether you are working with a professional advisor or you are a do-it-yourselfer, a retiree or preretiree, is total your fixed monthly income and subtract from your fixed monthly expenses (don’t forget income taxes) and see if these are in balance or is there a gap which needs to be closed. Assume a rate of inflation (historic average is better than current) and repeat the calculation. If you can meet your expenses then your additional withdrawal rate should be below 4 percent....

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Savvy Social Security Planning: Things the Social Security Office Will Not Tell You

Posted by on Feb 5, 2014 in Uncategorized | 0 comments

MoneyMatteesUSA will host Savvy Social Security Strategies: 10 Things the Social Security Office Will not tell you. The seminar is being offered to educate people on how to best maximize their Social Security benefits. Most people look at Social Security as a government benefit when it is actually a retirement asset to be managed optimally like any other investment asset especially as an asset which provides what amounts to a defined benefit pension with a cost of living adjustment. The presentation will include strategies for when to start your retirement benefits and considerations such as income, assets, personal savings, health, life style, life expectancy, and future benefit amounts for surviving spouses. This seminar will also discuss the future of Social Security and reform proposals. The relationship between Medicare and Social Security will be explained in the context of choosing an income strategy. Benefits change depending on when someone files and these filing strategies may or may not be shared by the Social Security office with the public. According to Dr. Frederick Saide, the featured speaker, “the majority of Americans just do not understand what their Social Security benefits are, when they should start to collect them, or even, how to maximize their income.” Even more surprising, “many Americans” Saide remarked “don’t know Social Security benefits can be taxable.” The seminars will take place at the Main Conference room at the offices of MoneyMattersUSA at CEO Suites, 1812 Front Street, and Scotch Plains from 7pm to 9:30 pm. Light refreshment will be provided. There is no charge for the seminar but seating is limited and reservations can be made by calling 1-800-769-9414. Frederick Saide is a published author and adjunct professor. He writes and teaches strategies for preserving retirement savings and increasing retirement income and lowering federal income taxes. MoneyMattersUSA assists and partners with its clients to manage and grow their income using the best possible objective client solutions. Anyone interested in making an appointment with MoneyMattersUSA to discuss their Social Security benefits please call 908-791-3831 ext. 102 or www.wealthensure.com. MoneyMattersUSA is a fully independent firm and is not owned by a product...

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Are You Happy with Your Current CD Rate of Return?

Posted by on Feb 3, 2014 in Uncategorized | 0 comments

Please watch this 2 minute video to find out how YOU can earn better interest rates on FDIC Insured CDs CLICK HERE TO VIEW BENEFITS 1. POTENTIAL: UNLIMITED INTEREST (depending on the product) 2. SAFETY: 100% of deposit returned at maturity 3. PROTECTION: FDIC Insured MLCD BASICS • Issuers include JPMorgan, Barclays, Goldman Sachs and Bank of the West • FDIC Insured (at least $250,000 per bank) • Full deposit returned at maturity • Pays the greater of fixed or variable interest each year • Fixed Interest Rate products that pay 1.5% annually • Variable interest can be unlimited (depending on the product) FEBRUARY 2014 RECOMMENDATION • Bank of the West Commodity Linked CD (offering guide attached) • Interest each year will be either 1.25% or 5.5% annually • Best Case Scenario = 100% of your deposit back + 38.5% interest • Worst Case Scenario = 100% of your deposit back + 8.75% guaranteed interest ADDITIONAL INFORMATION This summary is not intended to be an offer to purchase CDs. Interested depositors should request offering documents from Frederick Saide. MLCDs are 100% principal protected when held to maturity. MLCDs are FDIC Insured up to statutory limits, which are described in detail in the offering documents, generally up to $250,000 per bank, per. Variable interest is subject to a CAP. If MLCDs are sold back to issuer prior to maturity, depositor may receive less or more than original deposit. Frederick (Fred) Saide Email: freds@foundationinsuranceservices.com (O) 908-791-3831 Please review the attached term-sheet which highlights the MLCD mentioned above AND contact me via e-mail or telephone before February...

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