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The Good Ole Days? Not so Good? Or Just Nostalgia

3/6/2014

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Recently I’ve gotten emails celebrating the “good old days” and showing old pictures of toys we used to play with, gadgets that were new years ago and now gone, and screen shots of old TV shows. The headline is usually something like, “Do You Remember These?” And the last paragraph talks about how good the good old days were, when kids could ride their bikes without helmets, play on the street, didn’t have to wear seat belts, and could choose from 3 or 4 black and white TV stations.

Really? Were they the good old days? I don’t think so. Yes, for many life was simpler. But how many of those kids without helmets fell or got hit by a car? How many of them would have escaped serious injury if they had worn a helmet. How many kids playing in the street were hit by cars? I know I had a few close calls. How many lives have been saved by seat belts? And what was so great about having only 3 or 4 TV stations or watching only in black and white?

I hear the same nostalgia when I hear baby boomers reminisce about the 60’s and 70’s. “Oh, wasn’t it great? We were so free. We were so experimental.” Sure, we were experimental. And if you’ve read my blogs you know I’m a huge advocate of baby boomers. But let’s be real here. The 60’s were awful. We had turmoil in the streets, we had world leaders assassinated, we had violent protests, and lots of other things that were far from wonderful. Too many of us OD’d on drugs (but since those people are not around to reminisce, we don’t hear their side of it). Many of us went to war 12,000 miles away. Most returned, many didn’t. Those that returned were treated with disdain. Many of us were lonely, desperate, out of touch, or depressed. We clung to each other because we didn’t know what else to do. We survived and moved on. And now we glorify those past years.

To me, there wasn’t that much glory living through those turbulent times. In fact, when I think back and compare today with back then, with what some call the good old days, I’m so happy those times are over and we’re here now. I’m not saying that there weren’t also some great times. There were many for me personally. I’m also not saying that the baby boomers didn’t shake up the world and make it a better place. We did. But let’s not forget about all those bad times we had or about the ones who didn’t make it through whole.

When I hear or read these nostalgic emails, I’m reminded of a very long bike ride I took about 15 years ago. It was a fundraiser for AIDS research and treatment. For 4 days I cycled through the mountains of North Carolina and Virginia before riding onto Constitution Avenue in Washington DC. Just about every minute of the ride I hated. There was nothing good about how my butt felt or the fatigue gnawing at my legs. But when I rode onto the mall having accomplished the tremendous feat, I was exhilarated. I totally forgot about the 4 days of hell. All I knew was that I had done it and it was one of the best feelings I had ever had.

I didn’t like that bike ride. I loathed the ride. I loved the accomplishment. And as for the 60’s and 70’s, I didn’t much like them either. But boy, did we ever accomplish something. And for that I too can celebrate. I just don’t want to say those times were better than now. We’ve progressed so far. We have so much farther to go, and in particular, to make the progress we’ve made available to everyone, not just the haves.

So my message is, “Sure, let’s look back and remember. Let’s laugh at the primitive technology we had then. Let’s remember the innocence and feeling of safety most of us had. But let’s not forget the fear we felt when we had to “duck and cover” under our desks during air raids. Let’s not forget the black and white pictures of the Vietnam War being broadcast into our living rooms. Or seeing your friend freak out on a bummer trip. And let’s put it in perspective, happy to have survived some awful times, but also sad that some didn’t.

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Kimberly Palmer's "The Economy of You"    a Must-read!

2/7/2014

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Kimberly Palmer, senior editor for U.S. News & World Report, has written a must-read book for anyone, no, make that everyone, who even remotely thinks life might throw them a curve.

Her book, The Economy of You is a well-written and personal account of the need for and means of creating side-gigs to boost your income. But she also  talks about ways to create and fulfill your life goals, something that is particularly near and dear to me. My Roadmap for the Rest of Your Life book is all about goal setting for those 50+. And, of course, the means of doing that and of finding role models are not so different for boomers than they are for millenials, the demographic Kim aligns more with.

There are a few things I particularly like about her book. One is in the introduction where she lists the 9 common traits shared by the entrepreneurs she interviewed. Using that as a base she uses many examples of those interviewees who represent those traits. You’re surely going to find many to whom you’ll relate. And the second clever thing she does is provide the top takeaways at the end of each chapter. No, I’m not suggesting that you can skip most of the book and just read those takeaways. But it follows the same formula used successfully in speeches: tell them what you’re going to say; say it; tell them what you said. Kim does that well, in a voice that’s both personal and professional, a skill she honed as an editor at US News.

You can get your copy of The Economy of Youˆ by clicking here, which will take you directly to Amazon. And be sure to read more about Kim on her website, http://www.bykimberlypalmer.com/


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Life at 50+  Five Key Points

1/31/2014

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Life after 50 isn’t what it used to be. The rules have changed. No more guaranteed pensions, retiree health plans, or extensive leisure and travel. It’s time to forge new paths and create innovative models. As you travel along life’s highways, these five key points will serve as your GPS, providing guidance and solutions.
  1. You get to choose your goals. At 50+ we get to choose our own “shoulds” based on our answer to “What are my goals for this stage in life?” We have few role models to give us direction or help pave the path for us. Figure out what your goals are so you can head toward them knowingly. If your goal is have accomplished something (e.g. starting a business or climbing a mountain) you can put up with and don’t have to enjoy the actual process. But if your goal is to actually run a business or climb a mountain, you have to enjoy long work hours and a lot of hiking.
  2. Most of what happens to us is not a surprise. While sometimes life brings the unexpected – illness, injury, or even lottery winnings – more often than not we see the ball coming at us right off the bat. We needed to have thought about our options before the ball was pitched, not when it’s on its way. By anticipating, planning, budgeting, and paying attention, we don’t have to rely on luck to reach our goals or enjoy life. That includes all the financial, legal, health, and work choices we make.
  3. Your Level of Activity influences your choices. The decisions we make about our lifestyle and the goals we set for ourselves are most successful when they are based on where you are on a Level of Activity scale that helps define who you are. E.g. type-A personalities are not going to be happy living in an isolated community for a long time. They may love visiting, even for extended trips. But that’s different than living there. At the same time, you also may change where you are on the scale (training for a marathon) or something can happen to change it (injury).
  4. Quality of Life is about Lifestyle. Budgeting is not a diet to get you to live within your means, or even about making your money last. It’s about figuring out how you can maintain the lifestyle you want for the rest of your life. View your categories of expenses not as fixed vs. variable, but as mandatory vs. discretionary. And you get to decide what is mandatory. E.g. gym dues, travel, cell phone, cable TV. Sure, you can live without those, but do you want to? Make your decisions knowing the consequences.
  5. Don’t judge yourself. You’ve already made lifestyle decisions, including your goals and interests. If you’re not sure what they are, just observe yourself and what you’re doing. What you do in your free time is what you want to do; what keeps your occupied for hours on end is your hobby. Accept yourself and the decisions you’ve made without judgment. Don’t judge whether its good or bad. It’s a choice you made. But also keep in mind that you’re not stuck with it forever, it can change. It’s what you have chosen now.


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Second time: Baby Boomers & the Stock Market Rally

12/30/2013

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This blog is a rewrite/update from one written almost a year ago on my old website that has received numerous comments recently. So I present it here again because it seems so relevant now. And I really want to thank all those who commented. I hope to again receive a lot of comments on this posting.

                                                *                            *                            *               

Give the baby boomers some credit for this latest wave of stock market upsurge. Yeah, I know that sounds just like a boomer – arrogant and self-absorbed. But listen to my reasoning and then decide whether I’m right.

Boomers are obviously older than all but the oldest in our population. That generally results in a bit more job security because they have seniority. And, indeed, the numbers confirm that. The unemployment rate for those over 50 is considerably lower than for those under 50. The unemployment rate for 55 to 64-year olds is about 5.5%, considerably less than the overall number which is 7.7% (the rate for 45- to 54-year olds is about 6%). Bart's note: these rates are lower now, but the 55+ group's rate is still lower than the young-uns' rate.


So what does that mean and how does that translate into a bull market?

Simply put, the baby boomers are not hurt as badly by the recession as are the rest of the population. They (we) don’t feel as negative and probably have greater optimism. Why?

For one, we’ve been through a number of downturns and have seen upswings that followed. The sky didn’t fall and we are now better off than we were a few years ago. We bought our houses longer ago than the others and even with the drop in the housing market, many of us still have some equity. In addition, we don’t tend to move as often as younger people so we probably didn’t have to sell at a loss.

Secondly, we have more money overall in our retirement accounts and other investments than do the young-uns. We don’t like seeing the returns of 1% or less that we get from CDs and other conservative investments. We are an antsy group and in this our arrogance helps us. We’re anxious to have our net worth be worthy of us!

Thirdly, we probably don’t have to plan for as many big expenses coming like college expenses for our kids. Most of this age group are already empty nesters or in the final years of paying the expenses for our kids. We’re seeing more of the light at the end of the fiscal tunnel now. We’re seeing that ahead lies our later years and we want to do what we can to be better off than it looked like we’d be. Sure many of our kids have rebounded and are staying with us. But we see that as temporary. And yes, we have other major expenses such as weddings and caring for our parents. But our kids are waiting longer to get married and the drain on us for caring for our parents is less about the financial difficulties than about the emotional strain, lack of time, complex insurance and legal concerns, and day-to-day caring concerns.

The result? We invest. We see a few hopeful signs and we move more of our money out of those safe investments into equities. We want to feel positive. We want there to be gains in stocks. As we learned long ago in our Econ 101 classes, that optimism drives the stock market higher.

So where does it go? Here’s what I think, to the extent that it matters. It goes up. Then down, then up again. It’s what the market does. In the short term we’ll see a bit more ride upwards. Then some folks will get scared or there’ll be some international news that causes jitters. Then we’ll get our perspective back and see another ride up. What we’ll experience is just like what we’ve experienced in the past. Only with more dollars and more people involved. That will cause even more volatility. But in the longer term, all that up and down will even off.

What we’ll also see is a slight decrease in the kinds of upswing returns since more of us, as we age, will heed the advice of good planners and will be more conservative with our investments. More of us will be working less or retired. More of us will be on fixed income. More of us will die.

But we won’t lose our optimism. We pronounced long ago that we changed the world and we still think we can. It’s all about us, right?
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November 07th, 2013

11/7/2013

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Risky Medications & Medical Devices

10/17/2013

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    Guest blog by Julian Hills
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Millions of Americans depend on medical devices and prescription medications to maintain a certain quality of life, some of which have been linked to serious side effects, and some that have been recalled as a result.

Overwhelmed caretakers faced with the task of caring for people with certain chronic illnesses are not always aware that these medications and devices can have dangerous consequences. Furthermore, manufacturers of risky medical devices and medications are not always quick to acknowledge the potential side effects.

           It is important for patients and caretakers to know these risks and to ask doctors about
          
alternatives to these medications and devices.

Watchdog Groups Claim Risky Devices Lack Proper Oversight

Watchdog groups have found that government regulators whose job it is to monitor issues sometimes let risky medical devices slip through the cracks.

The Government Accountability Office (GAO) even called out the U.S. Food and Drug Administration in 2011. The office found fault in the oversight process for devices deemed risky. One of the examples cited by the GAO was metal-on-metal hip implants, which it says were marketed and sold without proper testing.

The GAO specifically named artificial hip implants made by DePuy Orthopaedics (a division of Johnson & Johnson). Those devices reached the market without premarket testing and now face an avalanche of claims from doctors and patients who said the implants failed prematurely and deposited toxic metal debris into the blood stream.

DePuy isn’t the only manufacturer facing complaints over its hip implants. Stryker recalled its Rejuvenate and ABG II hip systems in 2012 and Smith & Nephew issued an international recall of its R3 Acetabular System that same year.  In addition, Zimmer recalled its Durom Cup Hip model in 2008.

Women Report Problems from Transvaginal Mesh Procedures

More information is coming out every day surrounding a medical device used exclusively by women. Many women had transvaginal mesh implanted to reverse pelvic organ prolapse and alleviate incontinence issues brought on by childbirth and menopause. Even though patients were convinced the procedure was low risk, many women suffered devastating side effects.

Women who received these implants reported painful intercourse and excruciating pelvic pain attributed to erosion—where the device slices through the vaginal wall and into surrounding organs. The affected women often have to have several surgeries to repair the damage.

Again, poor design and a lack of premarket testing are being blamed. Tens of thousands of mesh lawsuits seek to hold the manufacturers responsible.

Diabetes Drugs Linked to Serious Illnesses

Some of the most popular drugs linked to dangerous risks are non-insulin medications intended to regulate type 2 diabetes.

Several diabetes drugs have been linked to a host of illnesses:

·       Byetta and Bydureon: Serious side effects can include pancreatitis, pancreatic cancer and thyroid cancer.

·       Januvia and Janumet: These drugs are linked to pancreatitis and pancreatic cancer.

·       Victoza: This injectable drug is linked to pancreatitis and thyroid cancer.

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Many of these medications and devices remain on the market, and people use them every day. Patients and caretakers can make more informed choices if they know the risks that can come along with using them. Before taking any drug or getting fitted for any device, you should check with watchdog agencies and groups such as Drugwatch and The Consumer Watchdog for Safe and Effective Drugs.

Julian Hills is a staff writer for Drugwatch.


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I Love Medicare!

9/23/2013

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When I turned 65 earlier this year I became eligible for Medicare. And so far I’m thrilled. In fact, it’s great. It’s been everything I wanted and hoped for. With my supplemental insurance plan I’m now fully covered and it costs me only about $1500 a year (a bit more if my income goes up). I get to choose pretty much any doctor I want to see, although I’ve continued seeing the same ones I used to see. The only difference is that I no longer have to pay my $20 or $40 copay. Instead, I walk out of the doctor’s office with a zero balance. I haven’t had to go to the hospital, but I know that the bill will be the same, basically zero.

Don’t you think everyone should have this kind of coverage? Sure, I paid into Medicare for the 40+ years I worked and contributed through FICA. But even if I hadn’t, I’d still be covered. Isn’t that great? What if I had been a stay-at-home Mom or Dad and never earned any money so didn’t contribute? Know what, I’d still be covered. Isn’t that great! Sure, one could say my spouse had contributed. But that’s kind of stretching it, isn’t it? I’m a freelancer and there were years when I didn’t make much. So I didn’t contribute much, if anything to the Medicare fund. Doesn’t matter. I’m still covered now.

As I understand it, the “single payer” system that everyone was so worried about is just like Medicare. So I don’t understand why anyone was worried. This is, shall I say it again, GREAT!

Ok, there are a few little glitches. One is that not every doctor accepts Medicare patients. And in my area, the DC suburbs, it can be almost impossible to find a doctor who will accept a new Medicare patient. I know because I tried. At one point my wife’s current primary physician decided he would not accept Medicare patients at all, not just new ones. We could still see him but if we did we’d pay him whatever his costs were, submit his bill to Medicare and get reimbursed whatever amount Medicare had worked out with comparable doctors. That amount would definitely not be anywhere near what my doctor in this high cost area charged. After a year of doing this, my wife decided to look for another primary physician. I called at least 30 different practices and the only one that would accept a new Medicare patient was a Doctor of Osteopathic Medicine (D.O). I have nothing against D.O.’s, and, in fact, my wife went to him and everything was fine. But it was telling that there were no MD’s within 20 miles of my home that would accept her as a new Medicare patient. I even tried Gerontologists! And none of them would accept her either. Hello! A doctor dealing with the medicine of aging won’t accept an aging patient?

But our primary doc decided to once again accept Medicare. He still doesn’t accept new Medicare patients. But he accepts the low payment he gets and doesn’t charge us any more. I don’t know why he changed his policy. But it works for us. I imagine if he had too many Medicare patients he wouldn’t be able to sustain his practice. I know that the payments are way below his costs. But I think a lot of that is because we’re in this high cost area. I hope that in other areas of the country doctors accept Medicare, even though the payments are so low. And I certainly hope gerontologists accept Medicare. Otherwise I wonder who they’ll be treating?

One of my doctors, a noted back surgeon who is a partner in one of the most prestigious orthopedic groups in the DC area, does not accept any insurance. That is, he’s “out of network” for every insurance plan. But ironically, he does accept Medicare. So when I went to him, Medicare paid its share of the office visit and my supplemental plan (Medigap) paid its share. Since he’s out of network, my supplemental plan didn’t pay the total remaining bill so I did have some small balance.

I don’t know if I’ll need it, but if I do have to have surgery with this doc, I’m so relieved to know that Medicare will pay his bill. If it didn’t I couldn’t afford to go to him because no matter what other insurance plan covered me, I’d be out of network. That would cost me thousands of dollars. If I have the surgery and he still accepts Medicare, I think my bill will be a few hundred dollars at most.

Have I told you that I love Medicare!

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Reviews & Evaluations Touch on Truths- Learn from Them

8/20/2013

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I haven’t had a real job in a while. You know, where your supervisor sits you down every year or so to go over your performance. Aaarrrgghhh. I dreaded that day just as much as I feared being called into the principal’s office. As a writer, I don’t have a boss. Rather, I have readers. And, as you would imagine, people don’t hold back too much when discussing books they’ve paid good money for. Furthermore, unlike your supervisor, reviewers are anonymous. So for those of you with a boss, or thinking about an encore career, or even just a job, this blog's for you.

The other day I was reading the Amazon reviews of my book, Roadmap for the Rest of Your Life. Like any author—or anyone who is being evaluated, for that matter—I have great interest in what people say about my work. I’m pleased that most everyone has positive things to say. But I want to address the things said that are not so positive, not to be defensive, but in fact, to agree with some of it. It’s through feedback that we learn and while sometimes our egos get a bit bruised, it ultimately will mean growth and a better me. When you’re on your job, your supervisor will be evaluating you. Most of the review will be subjective. And that’s the point. It’s your supervisor’s perspective. With any luck, that boss will not only address your shortcomings, but also your strengths. And with your shortcomings, the hope is that the criticism will be constructive, allowing you to learn, not force you to put up walls or resistance.

The primary criticisms of my book have to do with the degree to which I get into the details in planning for the rest of your life and whether the information I present is available elsewhere.

The fact is, almost everything I said is available elsewhere (there really isn’t too much new in the world, is there), with at least one major exception—the Level of Activity scale. My purpose in writing this book was not to create the wheel but to point out that the wheel has already been invented and that it’s available to all of us. Use it and you’ll find that your life rolls along more smoothly. Miss using it and you’ll likely hit every bump in the road. I really hope that I’ve covered all the major topics but if I’ve missed a key area, please point that out and I’ll rectify it. And I take to heart that the Internet has made information available to anyone. Weeding out the right information is a challenge, certainly. But keeping to reliable sources, and not just one, should give you the whole picture. Future editions and future writings will emphasize areas to get a more rounded picture.

As for the level of detail, I truly hope that no reader is using my book as the ultimate authority on anything. There are many sources of detailed information about all of the subjects I touch upon. Few of us fit the “average” but it’s impossible to consider every possibility. So in addition to presenting the normal story, the book uses Life Stories to illustrate some of the more unusual circumstances. Many magazines and newspapers use this anecdotal method that give readers the chance to relate to a specific situation. I have rarely fit the mold. But sometimes I can find insight from other life stories. Again, future editions of my book and future writings will bring in specific resources where readers can get more information.

Toward that end, here are two sites that I highly recommend where readers can get both detailed and broad views of topics that will interest you as you enter your second adulthood. One is www.AARP.org, although I’m not particularly enamored with the look of the site. It certainly has detailed and broad information for those of us 50+. But the organization and look aren’t to my liking. The other site I like a lot is www.nextavenue.org. It’s a product of PBS stations (ergo the dot org) and covers most topics well. The look, feel, and navigation are superior to most sites. Check both of these out and please provide feedback—to me as well as to the website masters themselves.

To say that poor reviews or negative recommendations on a job don’t hurt would be a lie. Of course they do. I don’t want to hear anything bad about me. “The reader missed the whole point,” I’d rebut. But that would also be a lie. The reader, or your supervisor, did not miss the whole point. Your job will be to pay attention to what is being said, not to the hurt you’re feeling. And to learn from the message.

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Budgeting for Your Second Adulthood - Part 2

7/19/2013

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June 17th, 2013

6/17/2013

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