The Official Newspaper for Foster County
The Official Newspaper for Foster County
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Dear Savvy Senior, My husband and I are interested in taking our two grandkids on a big trip this summer and are looking for some good ideas. Can you recommend some travel companies that offer special travel packages for grandparents and grandkids? Doting Grandmother Dear Doting, Grandparents traveling with just their grandchildren has become a growing segment of the multigenerational travel industry. Not only is this type of travel fun, it’s also a terrific way to strengthen generational b...
Dear Savvy Senior, What are the new rules on required minimum distributions from IRAs and 401(k)s? I will turn 72 this year and want to be clear on what I’m required to do. Planning Ahead Dear Planning, Thanks to the SECURE Act 2.0 that was passed by Congress last December, there are several new rules that affect required minimum distributions (RMDs) from traditional IRAs, 401(k)s and other tax-deferred retirement accounts. These changes, which build on the original SECURE Act of 2019, are a b...
Dear Savvy Senior, As a 68-year-old retiree, I’m interested in finding a fun part-time job that can occupy some of my time and generate a little extra income. Can you write a column on low-stress part-time jobs that are popular among retirees? Part-Time Retiree Dear Retiree, Working part-time in retirement can be a terrific way to occupy your time and earn some extra income. The key, however, is finding the right gig that’s fun and satisfying for you. While there are literally hundreds of dif...
Dear Savvy Senior, What’s the best way to go about choosing an assisted living facility for my 86-year-old father? Since mom died last year, his health has declined to the point that he can’t live at home anymore, but isn’t ready for a nursing home either. Searching Susan Dear Susan, If your dad needs help with things like bathing, dressing, preparing meals, managing his medications or just getting around, an assisted living facility is definitely a good option to consider. Assisted livin...
Dear Savvy Senior, Is there anything I can do to reduce my high Medicare premium surcharges? Because of my past income, I pay $329.70 per month for my Part B premium and $64.50/month for Part D, but my income has dropped since I retired. Do I have any options? Overcharged Andy Dear Andy, If you’re getting hit with a higher premium for Medicare Part B and Part D and you think it’s unjustified, you can ask Social Security to revisit its decision and perhaps reduce your cost. Here’s what you shoul...
Dear Savvy Senior, I have been taking care of my elderly father for over a year and it’s taking a toll on my finances because I can only work part-time. Are there any resources you know about that can help family caregivers get paid? Seeking Support Dear Seeking, Caring for an elder parent can be challenging in many ways, but it can be especially difficult financially if you have to miss work to provide care. Fortunately, there are a number of government programs and other tips that may be a...
Dear Savvy Senior, I am interested in possibly donating my body to science when I pass away. What can you tell me about this, and what would I need to do to set it up? Getting Old Dear Getting, If you’re looking to help advance medical research, and in the process, eliminate your funeral and burial costs, donating your body to science is a great option to consider. Here’s what you should know. Body Donations Each year, it’s estimated that approximately 20,000 people donate their whole body,...
Dear Savvy Senior, What tools can you recommend to help protect trusting seniors from scam calls? My 74-year-old mother gets tons of unwanted telemarketing and robocalls on her cell and home phone and has been duped out of hundreds of dollars. Frustrated Daughter Dear Frustrated, It’s a great question! Scammers are always looking for new ways to dupe people out of money, and in the U.S., phone calls remain the primary way swindlers hook older victims. The Federal Trade Commission recently f...
Dear Savvy Senior, What are the symptoms of thyroid disease? I’ve been dealing with a number of health issues over the past few years, and a friend of mine recently suggested I get my thyroid checked because it might be causing my problems. Almost 66 Dear Almost, If your thyroid is out of whack, it can cause a number of health issues that can be tricky to detect because the symptoms often resemble other age-related health problems. In fact, as many as 30 million Americans have some form of thyro...
Dear Savvy Senior, What are the IRS income tax filing requirements for retirees this tax season? My income dropped way down when I retired in 2022, so I’m wondering if I need to even file a tax return this year. Recently Retired Dear Recently, Whether or not you are required to file a federal income tax return this year will depend on how much you earned last year, as well as the source of the income, your age and filing status. Here’s a rundown of this tax season’s IRS tax filing requirement th...
Dear Savvy Senior, I had dental insurance through my work for many years but lost it when I retired and joined Medicare. Where can retirees find affordable dental care? Uninsured Al Dear Al, Unfortunately, about two-thirds of U.S. retirees don’t have dental insurance today. Without coverage from traditional Medicare, and with private dental insurance typically costing too much to be feasible, most seniors are stuck paying full out-of-pocket prices every time they visit a dentist. While there’s n...
Dear Savvy Senior, I started drawing my Social Security retirement benefits back in 2021 when I was forced to retire early, but I’m now interested in going back to work part-time. Will this affect my benefits, and if so, how much? Back to Work Dear Back, You can collect Social Security retirement benefits and work at the same time but depending on how old you are and how much you earn, some or all of your benefits could be temporarily withheld. Here’s how it works. SSA Earning Rules Social Sec...
Dear Savvy Senior, Is it possible to make changes to my Medicare coverage now? I know we’ve passed the fall open enrollment period, but I’ve heard that there are other times of the year beneficiaries can make changes. What can you tell me? Changed My Mind Dear Changed, Yes! The annual Medicare open enrollment period isn’t your only opportunity to swap out Medicare coverage. There are other opportunities, but the timing of when you can make those changes depends on your specific circu...
Dear Savvy Senior, What steps need to be taken after a loved one dies? My 71-year-old uncle, who’s divorced with no children, has terminal cancer. He’s asked me to take care of his affairs so I would like to find out what I need to do after he passes away. Unsure Nephew Dear Unsure, I’m very sorry to hear about your uncle. The death of a loved one can bring about a host of different tasks and responsibilities. Here’s a list of some things you can do now, and after his death, that can help ke...
Dear Savvy Senior, Falls and fires are the two things I worry most about for my elderly father who lives alone. Do you have any suggestions on what we can do to help keep him safe, and keep an eye on him from afar? Concerned Daughter Dear Concerned, Of course! There are a number of small adjustments and modifications you can make to your dad’s home to help protect him from falls and fires, both of which cause thousands of injuries and deaths each year. Here are some tips to get you started. Elim...
Dear Savvy Senior, What tips do you recommend to Medicare beneficiaries dealing with hefty medical bills? My husband recently had open heart surgery and is recovering slowly, but the medical bills are coming in fast and furious and they’re putting us in medical debt. Struggling in Springfield Dear Struggling, I’m sorry to hear about your billing struggles, but medical debt has unfortunately become a chronic problem in this country. According to U.S. Census data 19 percent of Americans households...
Dear Savvy Senior, What tips do you recommend for long-distance caregivers? I help take care of my stubborn 86-year-old mother who still lives at home about 150 miles from me. Need Advice Dear Need, Providing care and support for an aging parent who lives far away can present a variety of challenges that can make the job difficult and stressful. Here are some tips and resources that may help you. Long-Distance Caregiving When it comes to monitoring and caring for an aging parent from afar, you...
Dear Savvy Senior, I recently learned about a property-tax relief program for seniors in the county where I live. Apparently, there are hundreds of these programs across the country that many retirees, like me, are eligible for but don’t know about. What can you tell me about this? Overtaxed Eddie Dear Eddie, Great question! Residential property-tax refund and credit programs exist in nearly every state, but unfortunately few people know about them. These programs can help retirees and many o...
Dear Savvy Senior, I’m interested in getting some of the new over-the-counter hearing aids that just became available a few month ago. Can you offer any tips to help me with this? Straining to Hear Dear Straining, The new FDA approved over-the-counter (OTC) hearing aids that started rolling out this fall are a real game changer for the roughly 48 million Americans with hearing loss. Adults with impaired hearing can now walk in and buy hearing aids at a pharmacy, big box chain, consumer e...
Dear Savvy Senior, I started a walking program a few months ago to help me lose weight but I’ve been having problems with my legs and hips hurting during my walk, although they feel better once I stop. I thought it was just because I’m getting old, but my neighbor was telling me about a leg vein disease she has called PAD and thinks I may have something similar. What can you tell me about this? Limping Linda Dear Linda, The health condition your neighbor is telling you about is known as “pe...
Dear Savvy Senior, Can you recommend any services that can help my elderly mother with her financial chores? My dad always used to handle the bill paying and paperwork, but he passed away last year, and mom struggles to keep on top of things. And I don’t live close enough to help her on a regular basis. Concerned Daughter Dear Concerned, It sounds like your mom could use a good daily money manager (or DMM). These are financial savvy professionals that can help older adults who have difficulty m...
Dear Savvy Senior, What are the most common scams today that target elderly seniors? My 75-year-old mother has been swindled several times over the past year, so I’m being extra cautious. Paranoid Patty Dear Patty, Great question! While many scams today are universal, there are certain types of fraud that specifically target older adults or affects them disproportionately. And unfortunately, these senior targeted scams are on the rise. According to the Federal Bureau of Investigation (FBI), i...
Dear Savvy Senior, I’ve read that retirees will be getting a nice cost-of-living increase in our Social Security benefits next year but what about Medicare? What will our Medicare Part B monthly premiums and other Medicare costs be in 2023? Planning Ahead Dear Planning, From an entitlement program standpoint, 2023 is going to be a very good year for retirees! Not only will you receive a nice 8.7 percent cost-of-living increase in your Social Security retirement benefits – the largest since 198...
Dear Savvy Senior, How do I go about looking for an old former company 401(k) plan that I think I contributed money to many years ago, but forgot about until recently? Retired in Rochester Dear Retired, If you think you may have lost track of an old 401(k) retirement account, you aren’t alone. As Americans move from job to job, many leave scraps of their company sponsored 401(k) plans behind, believing they’ll deal with it later, but never do. In fact, according to a recent study, Americans hav...
Dear Savvy Senior, I saw a news segment on television a few months ago about home sharing programs for seniors and would like to learn more. I’m 68, divorced, and am interested in renting out a room in my house to help make ends meet. What can you tell me? Interested Boomer Dear Boomer, Because of inflation and rising housing costs a growing number of baby boomers are opting to rent out a spare room in their house as a way to generate some extra income, and for some, increase companionship. T...
