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Forgetting: Is It Aging or Alzheimer's?
Tweet Share on Facebook September 19, 2008 Comment (4)Everyone forgets their keys occasionally, gets lost sometimes, or just can't quite remember the name of someone they were introduced to in the past. Young people usually shrug off these temporary bouts of memory loss. But older people may wonder if it could be the beginning of mild cognitive impairment or even Alzheimer's disease. U.S. News asked William Uffner, medical director of the Friends Hospital Older Adult Program in Philadelphia, how to tell when memory loss is a normal sign of aging or something more serious. Excerpts:
How do you know what's normal (like forgetting your keys) and when things are growing more serious?
The brain is unable to recognize when something is wrong with it. People generally are not aware when they have crossed over from a mild memory problem into dementia. More often, it is going to be a family member or an associate or someone else who makes the realization that a person isn't appropriately functioning and managing their affairs anymore. The individual themselves is likely to call the bank and say the bank made a mistake. That's a sign of true cognitive decline. -
Ideas for the Risk-Averse Saver
Tweet Share on Facebook September 18, 2008 Comment (3)The key to weathering any financial storm is having a reserve of completely safe and accessible cash. This emergency fund can be tapped for unexpected expenses so that your nest egg and other long-term investments can accrue completely intact. Even money market funds, long touted by financial advisers and financial services companies as relatively safe investments with decent yields, may be trending downward. On Tuesday, the Reserve Primary Fund—a giant money market fund—saw its shares "break the buck," which means each $1 share is now worth only 97 cents. This is reportedly the first time investors will lose money held in a money-market fund.
Here's a look at some risk-free savings options.
FDIC-insured accounts. Checking, savings, certificates of deposit, and money-market deposit accounts are insured up to $100,000 per depositor, per insured bank. Certain retirement accounts, such as individual retirement accounts, are insured up to $250,000. Multiple accounts at the same bank, such as a CD and a checking account, all count toward the same $100,000. But $100,000 accounts at two different banks would each be fully insured. Couples with joint accounts can get up to $200,000 in coverage. Mutual funds, annuities, life insurance policies, stocks, and bonds are not insured. If a bank should fail, the FDIC pays out the amount you are insured for within a few days by establishing an account at another insured bank or providing a check.
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How Safe Is Your Brokerage Account?
Tweet Share on Facebook September 17, 2008 Comment (1)When a brokerage firm fails, customer assets are usually still safe—up to a point. All brokerage firms that do business with the public are required to be members of the Securities Investor Protection Corp., a nonprofit organization that provides some insurance to investors if the firm becomes insolvent.
SIPC covers the replacement of missing stocks and other securities up to $500,000, including $100,000 in cash claims. Investors typically receive their assets in one to three months once liquidation is initiated. The cash comes from a reserve fund authorized by Congress specifically for investors at failed brokerage firms.
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Baby Boomer Drug Use
Tweet Share on Facebook September 16, 2008 Comment (7)Efforts to curb illegal drugs often focus on the young—with good reason. While more than 20 percent of 18-to-20-year-olds used illicit drugs last year, only about 6 percent of 50-to-54-year-olds did.
But illegal drug use among young people is decreasing. Cocaine and methamphetamine use among young adults dropped over the past year, according to a recent report, although abuse of prescription drugs is on the rise. Meanwhile, there has been a spike in illicit drug use among baby boomers.
The Substance Abuse and Mental Health Services Administration 2007 survey on drug use found that the rate of illicit drug use in the past month among those ages 50 to 54 increased from 3.4 percent in 2002 to 5.7 percent in 2007. The confidential survey of 67,500, which included in-person interviews conducted in respondents' homes, found that among those between the ages of 55 and 59, illicit drug use more than doubled from 1.9 percent in 2002 to 4.1 percent in 2007.
The authors of the report say these trends may partially reflect the aging into these age groups of the baby boomers, whose lifetime rates of illicit drug use are higher than those of older age groups.
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How the Merrill Lynch Acquisition Will Affect Your 401(k)
Tweet Share on Facebook September 15, 2008 Comment (8)Bank of America is acquiring Merrill Lynch for $50 billion. U.S. News asked three financial advisers what this means for Merrill Lynch customers and all 401(k) investors. Excerpts:
Steven Dimitriou, a financial adviser and managing partner at Boston's Mayflower Advisors
All 401(k) investors: Strictly as an investor, there is no doubt today's news is awful. It is hurting the markets. But if you have a long-term plan for the next 15 to 20-plus years, it is really more of a buying opportunity than anything. I don't want to say it's a bottom, but it is certainly starting to feel like a bottom. For the 401(k) investor, this is a good time to rebalance and stick with it.
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The 3 Most Powerful Old People in America
Tweet Share on Facebook September 12, 2008 Comment (3)Many people retire to a hammock in their backyard, bingo night, or the golf course. But some elder statesmen, business leaders, and cultural icons are achieving new heights in philanthropy, business, and law well into their ninth decade.
Slate recently ranked the 80 most powerful Americans over age 80. Here are a few of the highlights.
1. John Paul Stevens, 88, an associate Supreme Court justice who wrote the most cited opinion in American law: Chevron v. Natural Resources Defense Council
2. Kirk Kerkorian, 91, president and CEO of the investment company Tracinda Corp. and majority owner of the MGM Mirage in Las Vegas
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Geraldo Rivera, 65, Has No Plans to Retire
Tweet Share on Facebook September 12, 2008 Comment (15)At age 65, Geraldo Rivera doesn't consider himself close to retirement. "With a 3-year-old, and five kids total, I'm not going to quit," he told the Birmingham (Ala.) News. "I've got two years left on this contract, and I'm thinking I'll work maybe three years after that. Seventy would be a good age."
Rivera, currently in Texas tracking Hurricane Ike, hosts Geraldo at Large on Fox News. He also produced and hosted The Geraldo Rivera Show for 11 years. Prominent stories he has covered include the aftermath of Hurricane Katrina, the Iraqi elections from Baghdad, the O. J. Simpson civil trial, an exclusive interview with Michael Jackson the evening before his trial on child molestations charges, and an investigation into Elvis Presley's death for the news show 20/20.
The world traveler and veteran foreign correspondent says, "I've got my weekend show, and I've got my regular Friday slot on O'Reilly, and if anything big comes up like Gustav, I'll go cover it. I've been to Iraq nine times already." Rivera has also reported breaking news from Afghanistan, Pakistan, Chile, Guatemala, the Philippines, Nicaragua, Lebanon, Croatia, Bosnia, Kosovo, and Colombia. But he wouldn't mind slowing down a bit to spend more time with his children. "I have a 3-year-old, so to the extent I can, I also like to be close to home," Rivera says.
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Seniors Losing Sleep Over Financial Worries
Tweet Share on Facebook September 11, 2008 Comment (2)Nagging doubts about personal finances keep many seniors awake at night. A recent survey found that 53 percent of adults age 60 and older say current economic conditions are worse than any they have ever experienced before.
"While there have been serious economic downturns in the past, it is clear that this group of people over 60 feel particularly vulnerable during this time of their lives," says Sandra Timmermann, director of the MetLife Mature Market Institute.
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Politely Calling John McCain Old
Tweet Share on Facebook September 10, 2008 Comment (10)As you may have heard, if elected, John McCain will be the oldest U.S. president in history. Geriatric jokes about the 72-year-old candidate are an easy choice for the late-night talk show hosts.
Senator McCain is well past many American aging milestones: Social Security eligibility (62), the age at which most people retire in the United States (63), qualifying for Medicare (65), and the age at which delaying claiming Social Security no longer produces higher payouts (70). Although not a baby boomer, he may share the work ethic of boomers who plan to work as long as possible because they like their job or desire to serve the community, but perhaps not the mentality of those who keep working because they need the money and have no other choice.
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Lance Armstrong Comes out of Retirement
Tweet Share on Facebook September 10, 2008 CommentThe rumors were true. Lance Armstrong is coming out of retirement.
"I am happy to announce that after talking with my children, my family, and my closest friends, I have decided to return to professional cycling in order to raise awareness of the global cancer burden," Armstrong said. "This year alone, nearly 8 million people will die of cancer worldwide. Millions more will suffer in isolation, victims not only of the disease but of social stigma. After the passage of Proposition 15 in Texas, a $3 billion investment in the fight against cancer which is helping to make this disease part of the national dialogue in America, it's now time to address cancer on a global level."
You can watch the announcement in his own words here or read this Vanity Fair article about his return.
