excerpts from “Plan Now For A Better Future” Much of today’s emphasis is on the need for aging Americans to take care of their physical well-being in order to ensure a healthy future; it can also apply to their financial well-being. Not only personal finances, but how older Americans help keep the overall economy alive. Money is a bit tight right now, but just a little extra effort today in financial planning can yield big dividends later on no matter what your age. Here’s why.

A study on retirement satisfaction by researchers at Boston College asked retirees this question: “All in all, would you say that retirement has turned out to be: very satisfying, moderately satisfying, or not satisfying at all?” They found that among retired couples, those who answered “very satisfied” or “moderately satisfied” had income in retirement replacing 72 percent of their pre-retirement earnings, while those who said that their retirement was “not satisfying at all” had income replacing only about 60 percent of their pre-retirement earnings.

If these numbers seem daunting to you, remember that Social Security provides about 40 percent of pre-retirement earnings replacement for the average wage earner, making Social Security the foundation upon which you can build your secure retirement. You also will need other savings, investments, pensions or retirement accounts to make sure you have enough money to live comfortably when you retire. And Social Security offers several tools to help you plan now for a better future.

Every year workers 25 and older receive a Social Security Statement in the mail about two to three months before their birthday. The Statement gives you an estimate, based on your current earnings, of what you might expect in Social Security retirement benefits. You can then visit the Retirement Planner at www.socialsecurity.gov/retire2 where you can personalize various financial scenarios to determine what your individual retirement plan should look like. You’ll also want to visit the Social Security Retirement Estimator. There, you can key in some basic information and get a quick and accurate estimate of your benefit amount using different scenarios. You can find the Retirement Estimator at www.socialsecurity.gov/estimator.

Once you know just what to expect from Social Security in retirement, you will know just how much you need to save to be among the “very satisfied” American retirees. And America will thank you for it, because Social Security payments don’t stop in the bank accounts of older Americans. From there, they venture into the economy, purchasing goods and services.

In early 1998, Dr. Deborah Rohwer, a professor of music education came to UNT, bringing with her the concept of sponsoring a “senior band,” entitled New Horizons Concert Band. They rehearsed at the Denton Senior Center, where they still reside. Quickly, the New Horizons Concert Band expanded to 25 musicians from several area towns. Some of the more accomplished musicians formed a “combo” to play more of the big band sound rather than the concert-oriented style, while continuing in the New Horizons concert band. The original members were Charley Hayes, Richard White and Jim Martin, shortly joined by Charlie Goodhue and Jim Staercke. After several discussions, they decided to call themselves “The Young At Heart Band.”

The current orchestra is comprised of: Gloria Ayers on alto sax, Mary Jane Bell on clarinet, George Holladay and Charley Hayes on tenor sax, Woody Wood on alto and soprano sax, Mary Wood on baritone, sax and piano, Terry Frushour, band leader, on baritone horn, C.A.Bell on trumpet, and Doug Ebersole on trombone. The rhythm section consists of George Williams on bass guitar, Ed Nachtweh on piano, Richard White on rhythm guitar and Peggy Morrison on percussion. Several of the members also help out with vocal arrangements.

Young at Heart Orchestra plays a variety of music, including waltzes, latin numbers, polkas, and country/western tunes. However, the primary focus is on the big band numbers that they sang, hummed and danced to while growing up. The mission is to bring enjoyment and memories as well as danceable music to their various audiences, in addition to having fun. They have played for churches, retirement homes, nursing homes, VFW’s, American Legion, Denton Country Club, parades, fundraisers, garden parties and rehab centers as well as the annual Denton Jazz Fest each April. While they are considered by many to be the resident band for the Denton Senior Center, where they rehearse on Tuesday and Thursday mornings, they often play outside gigs when possible, at reasonable fees when appropriate.

For additional information, please contact Terry Frushour at 940-383-4124 or George Holladay at 940-566-6515.

You probably know someone who has needed long-term care. Maybe you have witnessed a family member, friend or colleague struggle with the emotional and financial issues that can come with a long-term care experience. The truth is, no matter when the need arises, because of age, disability, or because of an unexpected illness or accident, long-term care can affect any age group, any social strata, and any geographic location. But what is it and how can you plan for it?

What is Long-Term Care?
Long-term care is help you may need due to a lengthy illness, an unexpected injury or accident, or a severe cognitive disorder such as Alzheimer’s disease. It’s assistance with the everyday tasks, or the activities of daily living (bathing, eating, dressing, toileting, transferring, and continence). Long-term care may be provided in a variety of locations, from nursing homes and assisted living facilities to adult day care centers and even your own home.

Who needs Long-Term Care?
Most of us strive to live active, healthy lives well into our later years, and indeed as a society, Americans are living longer than ever before. This extended longevity is one of the things that drives the growing need for long-term care – the longer we live, the better the odds that we may need long-term care services. It is predicted that in the year 2020, some 12 million older Americans are expected to need long-term care.

While the majority of long-term care services is provided for seniors, a surprising amount of long-term care services are provided to younger people. In fact, the U.S. Government Accountability Office estimates that 40% of the 13 million people receiving long-term care services are between ages 18 and 64 .

Who pays for Long-Term Care?
Long-term care can be expensive, financially and emotionally. An unexpected need for long-term care can have a significant impact on a family’s assets and lifestyle. Close to one-fourth of all nursing home costs are paid out-of pocket by individuals and their families .

Many people mistakenly believe that their health insurance will cover the cost of long-term care. Others believe that Medicare or Medicaid will cover long-term care expenses. While Medicare does provide health coverage for seniors, it is limited in the coverage it provides for long-term care. Medicaid will pay for the cost of long-term care, but you must qualify by meeting strict income and asset eligibility requirements.

Long-term care insurance could be a solution.
Long-term care insurance can be a very smart way to address the challenges from a long-term care need. Long-term care insurance can help pay for nursing home care, as well as, a variety of home and community based care services. Long-term care insurance may not be for everybody, so if you are considering a policy, read it carefully and be sure to work with an insurance agent who understands long-term care issues.

With long life comes long-term planning. Make a plan for you and your family today. For more information on long-term care insurance, please contact Cathy J. Brown Agent, New York Life Insurance Company at 940.634.2707.