Posts Tagged ‘ senior citizen financial concerns ’

SENIORS STOP BELIEVING FINANCIAL MYTHS

Oct 13th, 2011 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Financial Myths Exposed Robert Reich, Chancellor’s Professor of Public Policy at the University of California at Berkeley, said this week that “The president’s jobs bill doesn’t have a chance in Congress – and the occupiers on Wall Street and elsewhere can’t become a national movement for a more equitable society – unless more Americans know [...]



Senior Citizen Fraud Issues Updated

Oct 21st, 2010 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

SCJ just received a brochure from the United States Postal Service regarding their efforts to stop fraud perpetrated through the mail, online or on the telephone.  SCJ has written about fraud against senior citizens in the past, and this is now a good time to update the information based on the USPS publication. There are ‘warning [...]



Senior Finances 101: Understanding Annuities #5

Oct 14th, 2010 | By Sharon Shaw Elrod MSW EdD | Category: Senior Moments Blog

The Index Annuity is the final in the series SCJ is publishing about annuities. This is an attempt to distill the information about annuities for senior citizens so we all can understand what they are and whether or not they make investment sense for our individual circumstances.

In the mid-90s, insurance companies created still another kind of annuity that is based on index funds in the various stock markets. Index funds are a small group of mutual funds that are purported to be a gauge of the entire stock market, and are considered ‘safer’ investments than the gamble taken with non-index funds. Index Annuities start out just like others, a contract with an insurance company for a definitive time period. Then, the index annuity is based on one of the Indexes (S & P 500, Dow Jones Industrial Average, etc) and your annuity



Senior Finances Easier With Internet

Sep 25th, 2010 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

During a visit with an elderly relative this week, one of SCJ’s editors learned the relative had bounced a number of checks on a banking account that had been closed for some time.  She was unaware she was using a checkbook on a closed account.  Another elderly relative sent her quarterly estimated tax form to the [...]



Baby Boomers’ Retirement Concerns Grow

Sep 20th, 2010 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

The current recession is affecting Baby Boomers and retirees in difficult and somewhat challenging ways.  For those BBs who had planned to retire at 62 or 65, the plan for many has to be re-examined.  Using online retirement calculators helps determine whether or not a BB can afford to retire; many are discovering they cannot.  And [...]