What is the Average Amount of Social Security?

How much will your Social Security benefits be, compared to what the average recipient receives?  Every year, the government mails you an estimate of the amount you can expect to receive in Social Security benefits when you retire.  When you look at those statements, how do you know if your benefits are about average, higher than average, or less than what the typical recipient will receive?  This article will help you determine if your retirement is on track compared to other retirees. 

How Much Social Security Does the Average Retiree Receive?

The numbers below are based on January, 2017 figures. If you are reading this after 2017, you can expect that the benefits will have increased slightly.  However, because the cost-of-living increases are typically modest, these numbers are unlikely to change dramatically.

According to SSA.gov, the numbers below are for the average retiree. 

Average Social Security benefits:     $1,360 a month / $16,320 a year
Average Social Security for couple:  $2,260 a month / $27,120 a year

Although this is not a large amount of money, according to current government estimates, it does mean the average individual or couple will receive enough income from their Social Security benefits to not fall below the poverty line.

While your Social Security income may not officially leave you in poverty, the amount is often substantially below what the average working individual or couple received in earned income, especially during the decade or two before they retired.  Consequently, the typical retiree often sees a significant drop in income, if their Social Security benefits are their only source of income during retirement.

How Much Will Your Benefits Increase Each Year?

Social Security benefits only increase at the rate of inflation, because retirees periodically receive a cost-of-living increase.  However, over the past few years, the cost-of-living increases have been either mostly or entirely eaten up by increases in Medicare premiums.  In other words, Social Security recipients frequently do not receive any increase in their annual benefits, even when there is inflation.

To make matters worse, the government is considering changing the way it estimates the rate of inflation for Social Security beneficiaries.  Currently, they use the CPI-W, which is the abbreviation for the Consumer Price Index for Workers.  This is the increase in the cost of consumer goods and services which the average worker has experienced over the period of a year.  However, the government wants to change to using a Chained CPI. The Chained CPI is a less generous Consumer Price Index which assumes that, as prices go up, a retiree will substitute their purchases for less expensive items. Therefore, cost-of-living increases can be smaller.  The Chained CPI does not take into consideration the fact that many retirees are already purchasing the least expensive items they possibly can.

In addition, neither Consumer Price Index considers the fact that many retirees actually spend more money on certain items after they retire.  For example, they may spend more on medical care or to hire people to help them do yard work or clean their homes.

What Happens to a Couple's Social Security if one Spouse Dies?

Another problem is that a married couple will see their household income drop by approximately 33 to 40 percent when one spouse dies.  This is because the surviving spouse will only be paid the higher of his or her own benefit or that of their deceased spouse ... but not both.  Since their house payments, property taxes, utilities and similar expenses will not decrease when their spouse dies, the surviving spouse may suddenly find themselves in worse financial shape.

What is the Future for Social Security?

Unless Congress takes steps soon to increase the size of the Social Security Trust Fund, it is expected to run out of money within 17 years ... or by 2034.

This does not mean that Social Security will cease to exist.  Current workers will continue to pay enough into the system to allow the Social Security Administration to keep paying between 74 percent and 79 percent of the promised benefits.  However, it does mean that retirees could see a 21 to 26 percent decrease in their benefits.

The sooner Congress resolves this problem, the easier it will be for them to begin refilling the Social Security Trust Fund.

What Can You Do to Protect Yourself?

If you have not yet retired, you may want to postpone retiring as long as possible.  If you wait until age 70 to begin collecting your benefits, you will maximize your benefits.  In addition, waiting to retire will give you a few more years to increase the amount of money in your personal retirement accounts, thus making it possible for you to have more resources for supplementing your income after retirement.

If you are over the age of 50, the amount you can put in a tax deferred retirement account jumps from $5,500 to $6,500.  If you have a company 401(k), the amount you can contribute at age 50 and over jumps from $18,000 to $24,000 a year.  Of course, you can also save or invest additional amounts of money, if you can afford to, although those amounts would not be tax deferred, at this time.  However, the allowable amounts for tax deferrals could go up in coming years.

Once you are retired, plan to use no more than 3 to 4 percent of your total savings each year, which would allow you to have extra income for 25 to 33 years, or longer.

Looking for more information on financial planning, where to retire, Social Security, Medicare, common medical problems or changing family relationships?  Use the tabs or pull-down menu at the top of the page to find links to hundreds of additional helpful articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo credit:  morguefile.com

Source:  fool.com/retirement/2017/01/20/what-will-the-average-retiree-get-from-social-secu.aspx

Tips for a Sharper Brain and Better Memory

While most of us will not completely lose our memory to Alzheimer's Disease or another form of dementia, there may be times when nearly all of us feel as though our thinking is a bit fuzzy or we cannot remember as well as we used to.  At the same time, we are constantly amazed by some of our peers who seem to stay "sharp as a tack."  Is there anything the rest of us can do to have a sharper brain and clear memory?  According to a number of leading experts, the answer is "Yes."

The Connection Between Your Heart and Brain

Our brain is dependent on the nutrients which our heart sends its way.  According to Dr. Hannah Gardener in the Department of Neurology at the University of Miami, the stronger our heart, the less cognitive decline we will experience.  She suggests that everyone strives to meet as many of the goals on this list as possible:

Stop Smoking
Have a BMI of under 25
Be physically active at least 150 minutes a week
Have a total cholesterol under 200 mg/dL
Have a healthy blood pressure under 120/80 mmHg
Have a healthy blood sugar under 100 mg/dL
Eat a diet rich in fruits, veggies and whole gains; low in sodium and sweets

Even if you cannot achieve all of the above goals perfectly, the closer you come, the better off your brain will be.

Follow the MIND Diet

This blog has discussed the MIND diet before.  It is short for Mediterranean-DASH Intervention for Neurodegenerative Delay.  MIND is much easier to remember.  Below is a brief summary of the diet, although anyone who wants to follow it would be smart to get a more detailed book on the subject.

DO EAT

6 servings of salad a week
7 servings of other vegetables a week
2 servings of berries a week
5 servings of nuts a week
3 servings of whole grains a day
1 serving of fish (not fried) every week
3 servings of beans a week
2 servings of poultry a week
Use extra-virgin olive oil instead of butter
Optional: 1 glass of wine a day

LIMIT THESE FOODS

Butter - no more than one tablespoon a day
Cheese - no more than one serving a week
Red meat - no more than four servings a week
Fried foods - less than one serving a week
Sweets and pastries - no more than five servings a week

Exercise Your Brain

Research has shown that people who regularly give their bodies and brains a work-out are able to postpone the signs of cognitive decline.  Here are some of the things everyone should do:

Get exercise - walk, cycle, swim and lift light weights - 150 minutes a week
Play games - chess, board games, puzzles, etc.
Meditate - spend your "down time" meditating a few minutes every day
Explore Your Artistic Side - sing, act, draw, paint or play an instrument
Read - in particular, read books as well as newspapers or magazines

Other Health and Lifestyle Changes

In addition to the above recommendations, research has shown a link between socializing with others and having a higher level of cognition.  On the other hand, people who are lonely tend to have poorer brain health.  Stay in touch with family and friends.  Join a club.  If you are religious, get involved in a place of worship.  Sign up to take classes.  The more time you spend interacting with other people and learning new things, the more likely you will be able to postpone dementia.

In addition, see your doctor regularly and treat any other problems you may have, including emotional ones.  People who have depression in middle age are at a higher risk for cognitive decline in later life.  People who have sleep problems also see more rapid mental decline as they age.  Talk to your doctor about any health issues you are experiencing and get them treated.  

Medications and Dementia

If you believe that you or a loved one is experiencing signs of dementia, see your doctor as soon as possible.  Researchers are continually discovering new medications which seem to slow down the progression of Alzheimer's Disease and other forms of dementia.  The sooner these drugs are started, the more successful they are.

In addition, it is possible your brain fogginess or symptoms of dementia could actually be a side effect of a medication you are currently taking.  If you suspect this could be your situation, talk to your doctor about changes which could be made to your prescriptions to minimize this problem.


If you are interested in learning more about how to maintain your health as you age, financial planning, Medicare, Social Security, where to retire and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional helpful articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com


Photo credit:  morguefile.com

Early Diagnosis of Dementia is Possible

Many people mistakenly believe that every time they misplace their car keys or forget an appointment, it is an early sign of dementia ... including Alzheimer's Disease.  The truth is that everyone sometimes forgets something.  However, that does not mean that early diagnosis of dementia is not possible.  Researchers have discovered that changes in behavior or personality could be a better way to predict dementia than occasional forgetfulness.

Mild Behavioral Impairment Could Indicate Brain Changes

Dr. Zahinoor Ismail of the University of Calgary and his team of researchers have compiled a checklist of symptoms which could be a red flag for doctors and families who are watching for signs of mental decline.  In putting together the checklist, they discovered that the brain changes that eventually lead to dementia can affect other parts of the brain years earlier.  In fact, people can develop signs of behavior impairment as much as a decade or two before they begin to show memory loss.

Symptoms of Behavioral Changes

Among the behavior changes which could be symptoms of future dementia are:

Has the patient lost interest in their favorite activities?
Are they getting unusually anxious, aggressive or suspicious?
Are they making crude or inappropriate comments in public?
Have they developed signs of depression?
Are they experiencing "sundowning" ... agitation or memory problems which are worse late in the day?
Have they become apathetic?
Do they get anxious about activities which have always been routine?
Are they losing their impulse control?
Have they started flaunting social norms?
Are they losing their appetite or showing less interest in food?

Dr Ismail emphasizes that these changes should be new problems that last more than six months.  In addition, they should not be problems that can be explained in other ways, such as by a clear mental health diagnosis or the recent death of a loved one. These need to be new behaviors.

Early Treatment Can Delay Alzheimer's Disease and Other Types of Dementia

If you notice that you or someone you love has developed recent personality or behavioral changes, it could be worth it to discuss the problem with your family doctor.  There are treatments which have been successful in slowing the progression of dementia.  It is also possible that early treatment could be even more successful if it is started as soon as mild behavioral impairment is noticed.

Medications are available to help people control their depression, anxiety and irritability, which could make life easier for both the patients and their family members.

Other Ways to Slow Down Dementia

Many researchers believe working crossword puzzles and playing a variety of brain games could slow down the development of dementia.  While these games may help, it is possible that social activities could be even more important.  Researchers from the University of Wisconsin reported their findings that "complex jobs that require working with people may help the brain build resilience against dementia, what's called 'cognitive reserve.'" 

In addition to being engaged in complex activities with other people, researchers from the University of South Florida discovered that reaction-time training could significantly decrease your risk of being diagnosed with dementia.  In the study, led by Dr. Jerri Edwards, 14 percent of people in a control group that received no intervention were diagnosed with dementia a decade later.  Those who had received just ten hours of reaction-time training over a five-week period lowered their risk of a dementia diagnosis to 12 percent; those who continued to get extra booster training lowered their rate of diagnosis to 8 percent.  The booster training consisted of four extra sessions one year after the original training and four more two years later.  The scientists measured the cognitive and functional changes at the beginning of the study, as well as at the one, two, three, five and ten year marks.  They found the group that did the speed training had 33 percent less risk of dementia when compared to the control group.  Even better, those that did at least 11 speed-training sessions were at 48 percent less risk for developing dementia over the ten years of the study.  The speed training consisted of a computer program in which the participants were asked to identify objects on a screen quickly.  The program got harder with each correct answer.

Other researchers have discovered that getting exercise, learning new skills, being involved in a religious organization, eating the Mediterranean diet, and socializing are all good ways to reduce dementia risk.


If you are interested in learning more about lowering your risk of dementia or developing other health problems, finding good places to retire, financial planning, Social Security, Medicare and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional articles.

Sources:

http://abcnews.go.com/Health/wireStory/behavior-offer-clues-dementia-brewing-40838965

http://www.nbcnews.com/health/mental-health/brain-games-might-cut-alzheimer-s-risk-n615856

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo credit:  morguefile.com 

Proposed Changes to Medicare

At the beginning of 2017, over 57 million American citizens, or approximately 15 percent of the U.S. population, relied on Medicare for their health insurance coverage.  With more than 10,000 people turning age 65 every DAY, this number is expected to grow in the coming years.  According to a poll by Kaiser Permanente Healthcare, which offers a popular Medicare Advantage program in some states, 77 percent of people consider Medicare a "very important" program.  Despite its popularity, Congress is fast-tracking their own proposals to privatize Medicare within eight years.

What Changes Does Congress Want to Make to Medicare?

Since the time Medicare was established in 1965, it has always been a "defined benefit" program, which means they guaranteed a certain level of health coverage.  When the Affordable Care Act was passed, the defined benefits were improved to include free preventive services such as flu shots and screenings for diabetes and cancer.  Under the current program, Medicare pays for 80 percent of the cost of doctor and hospital visits.  The beneficiaries either pay for the remaining 20 percent out-of pocket or they use a private insurance company in the form of a supplemental insurance policy or Medicare Advantage plan to cover most of their remaining expenses.

Congress is now considering changing from a "defined benefit" program to a "defined contribution" plan.  Their plan could also be called a voucher system.  Under the proposed plan, the government would give people a voucher to help with the cost of their insurance premiums, forcing senior citizens to shop for their own private medical insurance.  In addition, Congress wants to increase the eligibility age from 65 to 67.  Their goal is to limit how much the government spends on Medicare, despite the fact that nearly all U.S. citizens have been paying into Medicare their entire working lives ... some of them for decades.

What this new plan would do is put the responsibility for obtaining insurance on the backs of senior citizens.  The government would give you a voucher which you could use to pay for a discount on a private insurance policy, which you would be responsible for finding.  You would then have to pay any difference between the value of the voucher and the actual cost of your insurance premiums.  There would be no guarantee that the government voucher would cover a specific percentage of your insurance premiums.  In addition, you would be responsible for whatever deductibles and co-pays are required by your new insurance plan.  It is possible that seniors who cannot afford to pay these extra expenses would simply go without insurance or would buy the cheapest insurance with the highest deductibles.  This could cause them to avoid obtaining medical care except in the most extreme circumstances.

People over the age of 60 would be able to stay with traditional Medicare.  However, the new plan would gradually decrease the benefits and increase the costs which beneficiaries must pay.  The goal is to eventually "encourage" current Medicare beneficiaries to switch to the voucher program.

Could President Trump Veto the Proposed Changes to Medicare?

The only way to stop the above changes from going into effect would be if public pressure causes Congress to change its mind, or if President Trump vetoes the changes after Congress passes them.  While he was running for office, Trump was quoted at a rally in New Hampshire as saying, "Every Republican wants to do a big number on Social Security.  They want to do it on Medicare.  They want to do it on Medicaid.  And we can't do that.  It's not fair to the people who have been paying in for years."  However, recently his website has been changed to say that he is in favor of "modernizing" Medicare, although it is very ambiguous what that means.

On Dec. 4, 2016, on ABC News, the Vice-president elect Mike Pence said that Trump has "made it very clear in the course of the campaign that we're going to keep our promises on Social Security and Medicare."

Despite these statements by the incoming president and vice-president, it is important that U.S. citizens make their feelings known both to members of Congress and members of the new administration.

What are Other Ways Medicare Could be Fixed?

Many experts agree that the Medicare trust fund will need to slightly increase its income and decrease its expenses if it is going to remain solvent.  There are other changes which could be made to Medicare which would extend its life significantly, without privatizing it or doing away with the program.

1.  Keep Obamacare or a similar program.  When the Affordable Care Act (Obamacare) was passed, the cost savings included in the bill meant that the Medicare Trust Fund was able to remain solvent for an additional 11 years.  Obamacare slowed the growth of spending and reduced waste, fraud and excessive payments to care providers.  At the same time, the average beneficiary was able to personally save approximately $1,945 a year because the prescription drug "doughnut hole" was reduced.  These changes, and others, would disappear if the Affordable Care Act is repealed without being immediately replaced with a program which offers the same or similar benefits.

2.  Slightly increase payroll withholding and beneficiary premiums, deductibles and co-pays.  A small increase in revenues would help keep the current Medicare program solvent.  Modest increases in payroll withholding and the premiums, deductibles and co-pays which beneficiaries pay would adequately provide the necessary revenues while protecting the program.

3.  Give Medicare the authority to directly negotiate prescription drug prices.  Approximately one-sixth of the budget of Medicare goes to pay for prescription drugs.  If Medicare could negotiate directly with the pharmaceutical companies, which they would like to do, this would be a major step towards controlling their costs.

How Can Citizens Voice Their Opinions On Medicare Changes?

If you wish to let Congress know how you feel about the proposed changes to Medicare, now is the time to voice your opinion.  In addition, AARP will be lobbying Congress and they need to be able to show that they have the support of the public behind them.  Below is a list of ways you can make your voice heard and help keep our current Medicare system viable:

You can email the U.S. president after the election at:  president@whitehouse.gov

Prior to his inauguration, you can contact Donald Trump at: https://www.donaldjtrump.com/contact

Contact your Representative at:  http://www.house.gov/representatives/find/

Contact your Senator at:  https://www.senate.gov/senators/contact/

Join AARP and support their lobbying efforts at:  aarp.org 


You may also be interested in learning more about the proposed changes to Social Security and voicing your opinion on those issues, as well.  You can learn more about those proposals at:

Proposed Changes to Social Security

If you are interested in learning more about Social Security, Medicare, financial planning, where to retire, common medical problems and changing family relationships after retirement, use the tabs or pull-down menu at the top of the page to find links to hundreds of additional articles.

(Info about the proposed changes to Medicare based on a series of articles on Medicare in the January-February 2017 issue of the AARP Bulletin)

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo credit of morguefile.com    

 

Proposed Changes to Social Security

Nearly every adult American knows the Social Security Administration will face a financial shortfall when the trust fund runs out of cash in 2034. If nothing is done, both current and future retirees will face benefit cuts of approximately 21 percent.  In order to keep this safety net at full strength, changes have to be made.  The good news is that Social Security is in no danger of going completely bankrupt.  As long as there are people in the workforce, the government will receive payroll taxes which are large enough to cover approximately 80 percent of what they are obligated to pay.  What the government is trying to find, however, is a way to make up for that 20 percent shortfall.

If you are curious about the proposed changes to Social Security which are under consideration by the new, Republican-controlled Congress, there is a list of the proposals below.  According to a series of articles posted on the Fox News website, including one titled "7 Ways the GOP's Proposed Social Security Changes Could Impact Your Pocketbook," a number of ideas are under discussion.  Some of these proposed changes will affect current retirees; others will have a larger effect on people who will reach retirement age in the next decade or two.  Some of the proposals will receive wide support; others will be more controversial.

It is important to remember that the proposals listed below are just that ... proposals.  The final bill may differ from what is being considered, particularly if citizens become upset by any of these proposals and contact their individual U.S. Representatives and Senators to complain.  Whether you support or object to the ideas under consideration, now is the time to let Congress know your opinion.

Proposed Changes to Social Security

1.  First, no new revenues are currently under consideration.  The proposals which have been put forth so far do not include any increase in Social Security withholding; nor do they include an increase in the amount of wages which are subject to Social Security withholding.

2.  Between 2023 and 2030, the full retirement age (which will be 67 in 2022) would gradually increase to age 69.

3.  Beginning in 2023, the way Social Security benefits are calculated would change slightly.  Low-income beneficiaries and people who have worked over 35 years would receive a small increase; those who have above-average incomes would see their benefits decrease slightly.

4.  Beginning in December, 2018, cost-of-living increases would be lower because a different consumer price index would be used.  Instead of the the current CPI-W index, a chained CPI would be used.  The difference is that a chained CPI assumes that inflation causes people to make substitutions when they cannot afford their current expenses.  This means they might move to a less expensive home, buy more affordable cars, or switch from name-brand to generic products.  As a result, according to the chain-weighted CPI, the "real" inflation most people experience is not as large as the actual rate of inflation.  The AARP has long opposed this change, arguing that many seniors already have cut out as much as they can and a chain-weighted CPI could cause even more seniors to eventually end up in poverty.

5.  Some retirees would receive no cost-of-living increases at all after they retire.  Those affected would be single retirees with an adjusted gross income of over $85,000 or joint tax filers with an adjusted gross income over 170,000.

6.  Beginning in January, 2019, there would no longer be an earnings limit on people who begin to collect their Social Security benefits early. Those who continue working while they collect reduced benefits between the age of 62 and their full retirement age could earn as much as they want. 

7.  Between 2045 and 2054, federal income taxes on Social Security benefits would gradually be eliminated.  Currently, up to 85 percent of your benefits are subject to federal income taxes, depending on how much additional income you have.  After this change, only your additional income would be taxable.  However, this proposal would not go into effect for nearly 30 years.

8.  People who delay collecting their Social Security benefits past their full retirement age currently receive an increase in benefits of 8 percent for every year they postpone collecting.  One proposal being considered would allow people to choose a lump sum payment, instead, if they delay receiving their Social Security.

9.  Currently, a non-working spouse can receive a monthly benefit that is up to 50 percent of what the working spouse receives after retirement.  Under the new proposals, there would be a cap on what a non-working spouse could receive, so some spouses would no longer receive half of what the higher wage earner receives.  This cap is more likely to affect high-income couples.

We can expect there will be disagreements on whether or not these are the best ideas for fixing Social Security. However, what is not in dispute is that some changes are necessary and, no matter what Congress does, most people will be impacted in some way by the changes.  If you want to have a voice in what changes are made, be sure to contact your U.S. Representative or Senator.  Ask what changes they support and why they believe those are the best choices.  Then, be sure to let them know if you agree or disagree with each proposal.

Contact your Representative at:  http://www.house.gov/representatives/find/

Contact your Senator at:  https://www.senate.gov/senators/contact/

After the inauguration, contact the new president at:  president@whitehouse.gov

Support the lobbying efforts of AARP by joining them at:  aarp.org

If you are interested in more information on financial planning, where to retire, common medical
issues, changing family relationships and more, use the tabs or pull-down menu to find links to hundreds of additional articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo credit:  wikimedia.org/commons

Most Popular Retirement Stories of 2016

As we look back over the past year, it is interesting to review the most popular retirement stories of 2016 which were covered by the Baby Boomer Retirement blog.  There were a wide range of topics that appealed to Baby Boomers this year including an overview of Social Security and Medicare, information about voice therapy, longevity tips, housing choices, painkiller addictions, social media scams, family relationships, Alzheimers research and how to earn extra money.

All of these are topics of importance to those who have already retired, as well as those who are preparing to retire.  Below are links to the most popular retirement articles of the past year, as well as more details about the information they contain.  Just click on the links to go directly to the articles which interest you.

2016 Most Popular Retirement Stories

Social Security and Medicare Information - This is an overview article which contains links to a number of other articles that cover many of the questions people have about maximizing Social Security benefits, getting the maximum benefit from Medicare, and more.

Voice Therapy for Senior Citizens - Many people begin to discover that their voices become faint, sore or hoarse as they age.  Senior citizens may believe there is nothing they can do about these problems; however, there are therapies which can improve the quality of their voices.  Learn more about the types of therapies available.

Longevity Tips from Time Magazine - Do you want to live a healthy life as long as possible?  Here are the most current tips that will increase your chances of maximizing the number of years you have left.

Reata Glen and Other CCRCs in Orange County, California - Continuing Care Retirement Communities are becoming increasingly popular with aging senior citizens, especially those who do not have long-term care insurance.  Learn more about them, including specific information about the ones in Orange County, California.

Risks of Social Media Phishing - Social media such as Facebook are popular ways of staying in touch with our family and friends.  However, some of the games and other apps can be used to obtain your personal information.  In addition, when you use Twitter or Facebook to contact the customer service offices of companies, you could be contacting a fake site. Learn more about dangerous social media phishing and how to protect yourself.

Best Senior Housing Choices for Aging Boomers - What are some of the housing choices people have as they age?  This article explains the various options and how they might fit your lifestyle.

Senior Living Communities for Baby Boomers - Information about the types of senior living communities which could appeal to aging Baby Boomers.

Dangerous Prescription Painkillers Addictions: Opiods - Opiod painkiller addiction has become an increasingly serious problem for senior citizens.  Many people who never dreamed they could become addicts, discover that they have slipped into this overwhelming situation after surgery or other painful treatments. 

How to Overcome Resistance to Assisted Living - Do you have an aging spouse or parent who needs to move into an assisted living or memory care facility?  Do they oppose the move?  This article may help you reduce their resistance and help them become more accepting of the idea.

New Alzheimers Disease Research - Alzheimers and other forms of dementia are some of the most feared consequences of aging.  Learn more about the research which is being done and how these dreaded diseases could become less common in the future.

Earn Extra Money from the Sharing Economy - Would you like to use your home, your car, your garage or your talents in order to earn a little extra money?  Learn how easy it can be to join the "sharing economy" and supplement your retirement income.

Family Relationships - How to Stop Arguments - Do you feel stressed when you spend time with your family over the holidays or on other special occasions?  This article will give you tips on how to reduce the tension and, in many cases, stop family arguments in their tracks.  

If you are interested in reading more retirement information, use the tabs or pull-down menus at the top of this page to find links to hundreds of additional articles about where to retire, financial planning, Social Security, Medicare, common medical problems and more.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo credit:  Author

Family Relationships - How to Stop Arguments

One of the most painful situations for many retirees and younger adults is when they have a feud with a family member or close friend.  Whether this person is a spouse, sibling, parent, adult child, friend or neighbor, the continual stress of squabbling with a loved one can cause depression and place a cloud over all your interactions.  Sometimes it may seem as if you need a megaphone in order to make them hear you ... but the louder you get, the less they seem to hear.

This is a particularly important issue when we consider the fact that having frequent social interactions with others is one way we can reduce our risk of developing Alzheimer's Disease or other forms of dementia.  People who engage in frequent socializing are more likely to retain their memory as they age.  However, who wants to socialize if they feel it will only lead to arguments and friction?

As a result, when a friend emailed me a list of statements we can use to stop an argument, I thought it would be beneficial to pass these suggestions on to others.  While these statements may not be 100 percent effective at always preventing a disagreement, any reduction in conflict is worth the effort.  With that thought in mind, below is a list you may want to print out and keep handy ... especially when you are about to enter into a situation which could be difficult and stressful for you, including family holiday parties and trips to see difficult relatives.

Concepts to Help You Deal with Difficult People

Before we say anything when someone has upset us, it is important to have the right attitude.  As a result, below you will find a few concepts to keep in mind when you are going to be around someone with whom you disagree ... whether it is over religion, politics, money, family or controversial social issues such as gay marriage or abortion.  Remembering these points could prevent you from engaging in an emotional, painful disagreement with them.

Ask yourself: How important is it?
Choose to live and let live
Don't force it
Look for progress, not perfection
Remember that this too shall pass
Accept that another person's opinion of you is beyond your control and none of your business


What to Say When You Do Not Agree With Someone

(Making the statements below do not mean you agree with the other person; you are just willing to let them talk and not engage them in an upsetting discussion.)

No kidding!
Really?
You might be right.
Yes.
No.
That's interesting.
Hmmm.
Wow!
Boy, I had no idea!
I never thought of it that way.
No fooling.
Thank you for telling me.
Oh.

If Someone You Care About Makes a Decision You Think is Risky

Tell them:  I love you, I believe in you, and I know you will do the right thing for you.
You can also say:  I love you and it will be interesting to see how this turns out.

How to Handle Someone Who Keeps Trying to Convince You of Something

Remember: "No" is a complete answer (don't keep explaining your decisions)
Say what you mean, mean what you say, but don't say it mean.

How to Buy Time When You Do Not Want to Commit to Something

It's possible; let me get back to you.
I'll see if I can juggle some things.
I can't do it, but can I give you a rain check?
I'm not sure; can I get back to you?

How to Bring a Difficult Discussion to an End

This is so painful for me, can we talk about something else now?
This is all I can handle right now; can we talk more another time?
My brain is on overload; I need to think about this.  Can I call you (or talk more) another time?

More Thoughts on How to Stop Arguments

We all need to accept that we are rarely able change another person's mind and we cannot stop another adult from doing whatever they decide to do, no matter how wrong we think it is.  Sometimes, the best way to influence someone else is to maintain the best possible relationship with them.  With this thought in mind, it is better to focus less on arguing with them and more on keeping our conversations friendly, caring, positive and agreeable.

If you are interested in reading more on how to improve family relationships, where to retire, financial planning for retirement, common medical issues and more, use the tabs or pull-down menu at the top of the page to find links to hundreds of additional articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo credit:  morguefile.com 

Casinos Encourage Gambling Addiction in Senior Citizens

Gambling addiction is becoming a dirty little secret among retirees who do not want to admit they could have a problem.  Sadly, however, there is evidence of it in nearly every casino in America and almost everything the casinos do is designed to fuel that addiction ... from the exciting environment to the free drinks. 

A few years ago, my husband and I were in Las Vegas for a family reunion.  While walking through the MGM Grand casino to get to the swimming pool, one of my young grandsons asked, "Why are there so many old people at the slot machines?"  Although my grandson was not aware of it, casinos are now actively marketing to older Americans and many of them are developing serious gambling addictions as a result.

Few People Admit Their Losses to Families and Friends

Over the years, I have noticed that no one ever seems to lose money at the casinos ... at least from what they tell their family and friends.  Everyone is always excited to tell their friends when they win a big jackpot ... or even a small one.  Other times, however, they will only say they "broke even" or were down "a little," but they had so much fun it was worth the small cost because they view it as entertainment.

However, all those glamorous casinos spread around the U.S. were not built because the casinos are losing money.  It is their patrons who are ultimately the big losers ... with just enough winnings to keep people coming back.

The Attraction of Casinos for Older Americans

According to an October, 2016 AARP Bulletin article titled "The Casino Trap,"  nearly half of the 101 million visitors to American casinos are age 50 and older.  U.S. casinos reported over $66 billion in gambling revenue in 2014 and a substantial amount of that came from older gamblers.

Only a few decades ago, nearly all casinos were located in Las Vegas or Atlantic City, NJ.; however, today there are approximately 1,400 casinos in 40 states.  This makes it much easier for almost everyone, even those who are too poor or infirm to travel long distances, to find a casino near them.  In addition, the casinos frequently send shuttles to retirement communities and senior centers to pick up gamblers for the day.

Regular gamblers are also given a wide variety of perks including cheap or free hotel rooms, discounted or free meals, free drinks, entertainment and prizes.  Many lonely retirees view these excursions as a fun way to overcome their boredom and get a cheap trip away from home.  Unfortunately, for many of them, the trips are much more expensive than they would like to admit.

The Older You Are, The Easier it is to Become Addicted to Gambling

One of the most addictive forms of casino gambling are the slot machines ... sometimes referred to as electronic crack.  Psychiatrist Hans Breiter, formerly of Massachusetts General Hospital in Boston, used MRI scanners to confirm that people playing slots have a similar reaction in their brain to people using cocaine.

There are other reasons, however, for people to easily become addicted to casino gambling.

They may be trying to get relief from loneliness, boredom or grief over the loss of their spouse or friends.

People who are in the early states of cognitive decline or dementia can be especially vulnerable to becoming addicted to the repetitive activity and stimulation of slot machines.  They can also begin to lose their sense of the value of the money they are spending.

Especially interesting has been the discovery that compulsive gambling can be the side effect of certain medications, particularly those used to treat Parkinson's Disease.  As many as 10 to 15 percent of people on Parkinson's medications could develop gambling problems which subside when the medications are removed.  No one knows what other types of medications could also make the elderly more susceptible to becoming addicted to gambling or other behaviors.

People also become addicted because the casinos assign VIP hosts to big gamblers in an attempt to attract them to the casinos and keep them gambling once they get there.  The more the gambler loses, the more the host earns in bonuses, so they often lavish abundant attention on their clients in order to keep them playing.  For lonely people, the attention itself can become addictive.

Casinos Deny That They Contribute to the Problem

Of course, casinos themselves insist that they try to prevent gambling addictions.  They leave brochures in hotel rooms that encourage "problem gamblers" to call an 800 number in order to get help.

People are also able to put their names on a self-exclusion list so they will no longer be encouraged to visit the casinos with promises of free trips and other perks.  However, this will not not keep them from going to a casino and gambling anonymously, using a friend's players card, or visiting casinos where their name is not on the self-exclusion list.

If you suspect that your spouse, parent or another family member could be addicted to gambling, you may wish to call Gambler's Anonymous, talk to their family physician, or discuss the problem with other family members.

Are you interested in learning more about subjects which could affect us as we age?  Use the tabs or pull down menu at the top of the page to find links to hundreds of additional articles on financial planning, where to retire, Medicare, Social Security, and more.

You are reading from the blog: http://www.baby-boomer-retirement.com

Photo credit:  Las Vegas photo taken by author

Keep the Holidays Affordable

Whether you celebrate Christmas, Hanukah or another holiday, gift giving can become expensive, especially for someone who is retired and living on a fixed income.  While you want your loved ones to know you care about them, you also need to find ways to get through the holidays without going into debt or spending more than you can afford.  How can you keep the holidays under control?

Holiday Shopping Does Not Have to be Expensive

Start with a Budget and Stick with It -  Make a list of the people who will be receiving gifts from you and decide how much you can afford to spend on each person ... even if it is only a few dollars.  If the list includes grandchildren, remember their parents are primarily responsible for providing what they need.  It is not necessary for you to overwhelm them with gifts.  One or two small gifts is adequate in most cases.  If you are buying gifts for your friends and neighbors, stick with small, thoughtful items, some of which you can purchase at a Dollar Store ... hand lotion, hot chocolate, gloves, or similar presents they can use or consume.  Stay away from knickknacks and collectibles which will only gather dust and your friends probably do not need.

Make a Plan and Shop Early -  Try to make as few trips to the stores as possible.  The more visits you make to the mall, the more likely you are to overspend.  Watch for ads and purchase the items you need when they are on sale.  Keep an eye on internet prices and sign up for email alerts from your favorite chain stores or shopping sites, such as Amazon, Macy's, JC Pennys, Kohls, Best Buy and Target. Many stores will match prices if you find the exact same item online somewhere else for a lower price.

Once You are Finishing Shopping ... Stop - One of the problems many people have during the holidays is when they spend the money they budgeted and then keep going back to the shops, finding more gift items and purchasing them, as well.  Once you have a gift for everyone on your list, relax and enjoy the holidays.

Make Some of Your Gifts - Some of my most cherished gifts are the quilts and embroidered pillowcases which were made by my own grandmothers decades ago.  In return, I crocheted baby blankets for all my grandchildren when they were born, as well as miniature baby blankets for our granddaughter's dolls.  Homemade jam, candy, cookies or cake are wonderful gifts, if you enjoy cooking!

Avoid Buying Gifts for Yourself - Once you are in the mall, a common cause of overspending is buying gifts for yourself. According to the National Retail Federation, 55.8 percent of shoppers admit they spent an average of $130 on themselves while they were purchasing gifts for other people!

More Ways to Save Money During the Holidays

Draw Names if You Have a Large Family - If you have a large number of children, grandchildren, siblings, nieces and nephews in your family, and have traditionally purchased gifts for most of them, you might suggest that everyone make it easy on themselves by drawing names, so you only need to purchase gifts for your immediate family and the one name you draw from your extended family.  Everyone in your family may appreciate this idea since it will reduce their stress and the cost of holiday shopping for them, too.

Have Pot Luck Holiday Meals - Whether it is a New Year's Eve party, Christmas dinner, or Hanukah meal, providing food for a large number of guests and family members can become expensive.  However, if you only offer to provide a main course, plus non-alcoholic beverages, and suggest that everyone else bring a side dish and whatever else they want to drink, it will remove a heavy financial burden from you, as well as reduce your work load.

Remember What is Most Important about the Holidays - While gifts and lavish meals are fun, it is important to remember that these are not what make the holidays special ... it is the time you spend with family and friends.  Focus more on that and less on the money you spend.  You will soon find you will enjoy the holidays more and will be less likely to get stressed or exceed your budget.

If you are interested in other tips to make retirement easier, financial planning, dealing with common medical problems, deciding where to retire, or changing family relationships, use the tabs or pull-down menu at the top of the page to find links to hundreds of additional helpful articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo credit:  Photo of mall decorations taken by author

Most Strokes can be Prevented

Strokes are one of the health issues that people fear the most as they age.  Recently, researchers discovered that 90 percent of strokes are preventable!  They learned this by analyzing 27,000 people from every continent on earth.  While there were some regional variations which determined what factors were most important in causing strokes, the list of health issues that contribute to them was surprisingly consistent ... and preventable.

How the Research was Conducted

The study was headed up by Dr. Martin O'Donnell and Professor Salim Yusef of McMaster University.  They were supported by collaborators from 32 countries.  Their study built on the INTERSTROKE study which originally discovered the ten most important risk factors for strokes, based on 6,000 participants who were in 22 different countries.  As mentioned above, O'Donnell and Yusef expanded the research to include 27,000 people from around the world.

What are the Risk Factors for Strokes?

Hypertension, or high blood pressure, was the most important factor in determining stroke risk.  That was true in every region.

However, the researchers came up with a PAR percentage (Population Attributable Risk) for each risk factor that contributed to strokes.  Many of the risk factors are associated with each other, such as obesity and diabetes.  When the PAR numbers were combined, it showed that controlling these risk factors could eliminate 90.7 percent of all strokes.  This was true in all regions of world, in all age groups, and for both men and women.

The Overall PAR Percentages

Hypertension - 47.9
Physical Inactivity - 35.8
Lipids (cholesterol, triglycerides, etc.) - 26.8
Poor diet - 23.2
Obesity - 18.6
Smoking - 12.4
Cardiac problems (including atrial fibrillation) - 9.1
Alcohol intake - 5.8
Stress - 5.8
Diabetes - 3.9

Conclusions from this Study

Professor Valery L. Feigin and Dr. Rita Kishnamurthi, who are with the National Institute for Stroke and Applied Neurosciences, added their own comment to the study.  In it they said, in part, "stroke is a highly preventable disease globally, irrespective of age and sex."

How to Apply this Information to Your Life

Now that scientists have confirmed that over 90 percent of strokes are preventable, individuals can work with their doctors to take action and prevent it.  You can use the list above to determine which areas of your life are most in need of change ... high blood pressure, lack of exercise, high cholesterol and triglycerides, a poor diet, being over-weight, smoking, cardiac problems, excessive alcohol use, stress and diabetes.

The sooner you address any of these issues in your personal life, the less likely you are to ever experience a stroke.

As always, be sure you discuss your health issues with your doctor.  Only they can prescribe medications which could help you control your blood pressure, cholesterol or diabetes.  Working closely with your physician and following their advice are the best ways to prevent strokes.


If you are interested in learning more about common health issues as you age, financial planning, where to retire, Social Security, Medicare and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional, helpful articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo credit:  morguefile.com

Are We Grateful and Kind or Angry and Bitter?

Among the common problems that many people experience as they age are symptoms of anger, aggression, hostility, and depression.  There are many reasons why people may feel these emotions.  They may be experiencing poor health, pain or loneliness.  They could be developing dementia. They could be upset by politics, the loss of friends as they age, or other sad events in their lives. Even if they have a good reason to be grouchy and irritable, however, giving into these negative emotions can be very damaging both to them and others.

Whenever someone lashes out at people within their family or circle of friends, it is not unusual for the other people to become less willing to help them or spend time with them.  They may lash back.  The angry person could end up destroying their relationships with the very people they care the most about.  That only serves to increase their feelings of isolation and anger.

Health Dangers of Anger

How do you handle anger, disappointment, resentment and sadness?  Do you frequently find yourself feeling irritable and angry?  Uncontrolled anger puts your health at risk and can cause the following health issues:

• headaches;
• digestion problems, such as abdominal pain;
• insomnia;
• increased anxiety;
• depression;
• high blood pressure;
• skin problems, such as eczema;
• heart attacks.

Anger can also lower your immune system and make other health conditions worse, including cancer.  It can be very destructive.

In addition, if you have strong feelings of hostility, irritability and anger, you become more likely to get into arguments with the people around you.  You might even find yourself raging out-of-control and getting into physical fights.  You could physically harm yourself or others.

The stress hormones associated with anger can damage a variety of systems in your body, as reflected in the list of health issues mentioned above.

Healthy Ways to Deal with Anger

Under normal circumstances, there are a number of ways you can deal with your anger.  You can try walking away until you get your emotions under control.  You can analyze why you feel so strongly about an issue and try to deal with it less emotionally.  You could try getting physical exercise to release the stress hormones.

However, what if your anger is because of health issues, the loss of a family member, uncontrolled pain, or because you are in the early stages of dementia?  What if the normal ways of dealing with feelings of anger are not enough?

If you find yourself getting angry often or feeling out-of-control, you may want to talk to your doctor about counseling and/or anti-depressants.  You may want to discuss pain management.  You may need to become willing to accept assistance by applying for Meals on Wheels, hiring a caregiver or, if necessary, moving into as assisted living community.  In other words, use every tool at your disposal to treat your anger until you can get it under control.

How to Improve Our Outlook on Life

In addition to the steps mentioned above, there are other actions you can take to reduce your feelings of hostility.

Volunteer - People who feel needed and who take the time to help others tend to have a better outlook on life.

Get a pet - Whether you decide to get a dog, cat or fish in an aquarium, having as pet has been shown to decrease feelings of anxiety and loneliness.

Socialize with others - Many senior citizens spend most of their time alone.  They stay indoors, watch television and eat their meals by themselves.  Anything you can do that breaks up your day and gives you more contact with other people can make a significant difference in your outlook on life.  Local senior centers provide low-cost lunches for anyone who wants to come and eat with others.  Often, these lunches are accompanied by games and other activities.  You may also want to join clubs or take classes in your community.

Attend religious services - Studies have shown that people who regularly attend the religious services of their choice tend to live longer and be happier.

Get rest - People who do not sleep enough are more likely to be grouchy.  Extreme sleep deprivation can even mimic the symptoms of a variety of mental illnesses.  If you are having trouble getting enough sleep, discuss the problem with your doctor and see if behavioral modification or medication can help.

Eat healthy foods - There is some truth to the idea that we are what we eat.  Too much sugar, alcohol or caffeine, for example, can increase feelings of irritability and make it more difficult for us to sleep.

Be grateful - Gratitude is a positive emotion that helps people cope better with stress in their life.  It helps people to focus on the good in their lives and takes their attention off their difficulties, even temporarily.  Start a gratitude list and add to it regularly.

Journal - One place where you may want to keep your gratitude list is in a journal.  Many people also find it helpful to keep a journal of their feelings and experiences.  It can be a healthy outlet and a relaxing way to help you find solutions to the things that worry you. 

Learn to Relax - You may want to take meditation or yoga classes.  Learning proper breathing techniques can lower your blood pressure and decrease stress.  Many people also find it soothing to spend time in nature.

Get regular exercise -  Exercise can improve some health conditions, get us outside, take our minds off our difficulties and change our attitude.  Regular exercise can improve mood and reduce stress levels.

Smile - The act of smiling changes the way we look at the world.  When we smile at someone else, they usually will smile back, which makes us feel even better.

The bottom line is that we are far better off at any age when we reach out to other people, show gratitude for the things they do for us, and treat them with kindness.  We cannot expect others to be kind to us if we react with bitterness and sarcasm.  Practice being considerate of others and we are likely to see that behavior returned.

If you are interested in learning more about the issues that affect retirees, including common health problems, financial planning, where to retire, Social Security, Medicare and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo credit:  morguefile.com

Shop Online Safely and Conveniently

In 2006, the online shopping sales volume for Cyber Monday (the Monday after Thanksgiving) amounted to about $608 million in sales.  By 2015, the amount of shopping done online on Cyber Monday totaled over $3 billion.  While there is no question that it is convenient to shop online, especially for retirees who may find it difficult to get to a mall and buy gifts for their loved ones, some people still do not feel safe shopping online ... and many of them have good reason to be cautious.

What can you do to make your online shopping experience as convenient as possible, while minimizing their risk?

Tricks to Make Online Shopping More Convenient

Take Advantage of Online Sales - Just because you cannot make it to a mall, does not mean you will miss out on the sales.  While not every online purchase is a great deal, it is still possible to take advantage of sales while shopping online.  The first thing you should do is sign up for emails from your favorite retailers and follow them on social media like Facebook or Twitter.  Between the emails and your Facebook account, you will know quickly if they are having an online sale.  You can also use a service like PricePinx.com to be notified of discounts on your favorite items.  PriceGrabber, Bizrate and shopping.com also help you find the lowest prices on items you want by sending you the current cost of that item at a wide variety of stores, which allows you to make price comparisons.

Try Leaving an Empty Online Shopping Cart - Many consumers have found that, when shopping on sites like Amazon, if they search for an item and put it in their "shopping cart," but then close the page without purchasing the item, they are often notified a few days or weeks later when the item has been reduced in price.  Whether you are shopping for Levi's, Nike's, an iPhone, the latest video game, or a new DVR player, this is a great way to get discounts on items that you do not need to buy in a hurry.

Shop for Discounted Gift Cards - There are websites such as Gift Card Granny and CardCash that sell gift cards for department stores and other businesses at a discount.  It could save you a little shopping money.  At the very least, it is worth checking out.

Consider Amazon Prime if You Mail a Lot of Gifts - At a cost of $99 a year, Amazon Prime is not right for everyone.  However, if you find yourself spending over $100 a year on shipping costs for items you buy for yourself or send to family members in other parts of the United States, Amazon Prime offers free two-day shipping on most items, as well as other benefits such as free e-books, video streaming, and unlimited photo storage on Amazon Drive.

Look for Free Shipping on Other Sites - Some websites offer free shipping on purchases over a certain dollar value.  You can also check out FreeShipping.com, which eliminates the delivery charges from over one thousand online retailers, including Target, Kohl's and JC Penny.

When in Doubt, Call the Online Representative - Many websites have real people you can call for help with their website.  For example, at the bottom of the page on the Macy's website, there are the words "contact us."  If you click those words, the page that opens up gives you a phone number you can call 24 hours a day to get additional help.  Other sites have their phone number displayed prominently near the top of the page.

How to Stay Safe While Shopping Online

Avoid Shopping on Unfamiliar Sites -  Amazon, Walmart, Kohl's, Target, Macy's, Gap, Saks Fifth Avenue, Nordstrom, Sephora, Ann Taylor and JC Penny are all examples of well-known companies with websites which are reliable and legitimate. (Some of these companies have legitimate links to their sites from this article, for example). There are many other honest companies with good, user-friendly websites, as well.  However, make sure you are familiar with the company before doing any shopping online.  At the very least, ask a friend if they have shopped on the site or check them out through the Better Business Bureau.  Whenever you visit a brick-and-mortar store you like, ask them if they have a website where you can shop.

Do Not Shop Online Using Public Wi-Fi - While it might seem fun to sit at Starbucks with a cup of coffee and do all your holiday shopping, you could be putting your credit card numbers and personal information at risk.  Stick to your home internet connection and make sure your computer security is kept up-to-date.

Make Sure the Site URL Starts with https - Most ordinary websites have a URL that begins with just http; shopping websites should have the letter "s" at the end, which means that it is secured and your financial information is more likely to be protected.  While you are examining the URL, be certain it looks right to you.  If you are shopping at Amazon.com, for example, the full URL is https://www.Amazon.com.  If the word Amazon is misspelled or there appears to be some other problem, you could be on the wrong site.  Be especially concerned if the URL for the website does not contain the business name at all, but just has a series of letters and numbers instead.

While there are no guarantees that you will completely avoid any problems while shopping online, the above steps will greatly reduce them, making you much more secure while shopping from home.

If you are interested in more tips for retirees, including retirement planning, where to retire, Social Security, Medicare, medical issues and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo credit:  morguefile.com
  

Risks of Social Media Phishing

Whether you have ever heard of phishing or not, anyone who spends much time online is vulnerable to having their private information stolen and misused.  Nearly half of Americans over the age of 65, and two-thirds of those between the ages of 50 and 64 are on Facebook.  Many are also on other social media sites, such as Twitter.  As long as most of us stick to sharing photos of our grandkids and staying in touch with friends, we have very few problems ... especially if we keep track of our privacy settings and make sure that the majority of what we share is for "friends only."

However, a large number of people play games, enter contests, or answer questionnaires and surveys on social media.  While most of those programs are innocent, some of them are "phishing" for your personal information so they can steal your identity.  If they ask you for your credit card information, you may be putting your accounts at risk.

According to an article in the July-August 2016 AARP Bulletin, "Staying Safe and Secure on Social Media" by Sid Kirchheimer, below are some of the more common ways you can run into trouble on sites like Facebook and Twitter.

Social Media Scams to Avoid

Using Twitter to contact a company's customer service department - Phony companies, with names which are similar to legitimate companies such as banks and credit card companies, have computer programs that lurk our accounts online and watch for complaints and messages that show up on Twitter.  When they spot one, they quickly respond and direct you to send your complaints to a phony website.  Once you enter your log-in information and account number on their website, they can steal your account information and use it or sell it.  You may never even know that you sent your "complaint" to a phony company that stole your information.

Clicking on websites promoted on social media because they offer access to live-streaming games, concerts and other events - These sites often offer a "free trial" of their service and ask for a credit card number.  While these phony companies typically say you can cancel their service anytime after the free trial ends, they sometimes begin to charge your credit card monthly ... and it can be difficult to get them to stop.

Signing up on social media for free gifts or discounts which will be mailed or emailed to you - They may try to appeal to you by offering free cosmetics and samples, or they could offer you access to photos or "secrets" about celebrities.  These are often attempts to get you to give them your name, address, phone numbers, email address and, in some cases, your credit card information to pay for "shipping and handling." Once you have given this information to them, they may sell it on the black market.  Meanwhile, you will quickly discover that the "deals" either don't exist or come with strings attached.  Recently, I experimented with an offer of four Disneyland passes.  Not only did they want all my personal information, but they also wanted me to send them the email addresses of 15 of my friends.  Wisely, I did not do it.

Contest and survey scams - These are similar to the free gift or discount scams.  However, in addition to your name, address and account information, they may also try to trick you into giving them even more personal information by asking questions in their surveys about your job, income, spending habits and purchases you plan to make in the future.  I have noticed that some of these types of scams can be very tricky.  For example, they might have names such as "what kind of flower are you?" and then ask a lot of personal information ... such as your favorite color, what you would buy with $1000, etc.  They frequently ask for permission to access your Facebook account so they can "analyze" the information.  When these scammers combine your Facebook account information to the answers you gave on the survey, they can obtain more information than you realize.

How to Stay Safe on Social Media

The best way to avoid these potential problems is to stick to your main reason for being on social media ... socializing with people you actually know.

Limit the number of "friends" you have on Facebook to people you trust.

Check your privacy settings on Facebook to make sure your posts are visible to "Friends only."  You can change the setting of individual posts, if you have a reason to.   

Don't use Facebook or Twitter to contact corporations ... go directly to their websites, instead.  This is especially true when you are contacting your bank or credit card company.

If an advertised product interests you, make sure you are purchasing it through a legitimate site, such as Amazon.com, or the website of a major store, such as Macys.com, Target.com or Walmart.com.  Avoid shopping at unfamiliar companies or clicking on ads which contain misspellings or other indications that they may not be legitimate.  (That is why most of the ads on this blog are from either Amazon.com or Google.  I want my readers to be comfortable knowing that the companies which advertise here are legitimate.  Too bad some of the social media sites are not as careful about who is allowed to buy ads on their sites.)

Don't make purchases from companies you know nothing about unless you check them out first through the Better Business Bureau or similar services. 

Don't give out personal information on social media by answering surveys ... even if they seem harmless.  Keep your personal information private.

Be careful about releasing your credit card information.  Before you make a purchase, you should be convinced that the company is legitimate.

If you are interested in more information about retirement, financial planning, where to retire, common medical problems, health, safety and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo of cat with computer is property of author, Deborah Dian; all rights reserved.