Posts Tagged ‘programs’

Money saving tips

Friday, September 13th, 2013

Money saving tips

Here are some great tips for saving money. We gathered these from various sources, to learn more about each follow the links provided or contact a trusted financial advisor. 

Find your pension

To see if you or someone you know has an unclaimed pension-Search.pbgc.gov

Free credit monitoring

Creditsesame.com

Catch-up

If you are 50 or over you can contribute an extra $5,500 to your 401K plan as a catch up contribution in 2013

 Family ties

If adult children or grandchildren live with you it may mean special tax breaks. Ask your tax preparer about claiming dependents for family members you support.

Save on stamps

Paying bills online means not buying stamps

Free credit report

Don’t pay for credit reports. Get a free copy once a year from three companies- Equifax, TransUnion and Experian. Visit annualcreditreport.com

Selling your home?

The best day of the week to list your home for sale is Friday and the worst is Sunday. according to an analysis by a major real-estate brokerage firm. Listings on Fridays sell faster and for more money.

Save money on medications

Ask your doctor for free samples. Drug company reps drop them off all the time.

Skip the ER

If you have a non-life-threatening medical issue, like fevers, cuts, minor burns or headaches. Urgent care centers with walk-in features are more affordable and usually are open 7 days a week.

Grow it

If you put the stub of romaine lettuce in a glass of water and place it in a sunny spot it will grow back, the same is true of celery, spring onions and cabbage.

Weigh your options

If you need only a few vegetables or fruits for a recipe or meal, buying a small amount from the salad bar at your supermarket may be cheaper than buying a bag of precut vegetables.

Check it out

Instead of buying a book, why not visit your local library and borrow it.

Service advisory

If you get your car serviced at the dealer, ask to check for any service advisories. You might save on a repair that is covered.

Compare 401 (k) fees

Financial information company, BrightScope features free 401 (K) ratings directory that compares fees among plans. Check it out at brightscope.com/ratings

Falls Prevention Awareness Week, September 22-29, 2013

Tuesday, September 3rd, 2013

Falls Prevention Awareness Week, September 22-29, 2013

The Falls Prevention Workgroup and Division of Aging Services are promoting the 5th Annual Falls Prevention Awareness Week, September 22-29, 2013. Governor Christie declared September 23-29, 2013 Falls Prevention Awareness week with events happening throughout the state. The fall prevention workgroup is comprised of PTs, EMS personnel, health educators, etc. 

It is reported that more than one third of adults age 65 and older fall each year in the US. In New Jersey, an average of 194 people age 60 and over are treated in the ER or as inpatients due to a fall. Falls are the number one cause of brain injury in adults. as you can tell, falls are a serious problem.

The upside to this is that falls are preventable. And that is what Fall Prevention Week is all about, bringing awareness to the issue and helping people to prevent falls.

First things first, exercise is a good idea. It will increase your strength, flexibility and balance.

Make sure to get important exams, like an eye exam, yearly. Make sure your doctor and pharmacist review your medicines- both prescription and over the counter to make sure there are no side effects or interactions that could put you at risk. Also, there are some medications that can cause dizziness or weakness, so make sure you are aware if you are taking any with those side effects.

Wear the right footwear. You’d be surprised how many falls are due to this. Make sure your shoes fit properly and have non-slip soles.

You can do things around the house to make it safer as well. Remove clutter in your hallways and rooms. Make sure any wires or cords are out of the way. Make lights brighter, especially in stairways. Install bath grips or grab bars in your tub or shower. Limiting the use of area rugs is a good idea, but if you use them, make sure they are the kind with non-skid liners.

The best way to make Fall Prevention Awareness Week in NJ a success is by spreading the word.

Learn more at http://www.state.nj.us/humanservices/doas/services/fallprev/index.html

And be sure to check out the 24th Episode of NJFA’s TV Program, Aging Insights, which features exercises that help to promote strength and balance!

www.youtube.com/njfoundationforaging

SCAM Update and Warning about Robocalls

Wednesday, August 7th, 2013

There was recently an article in the AARP Bulletin on that had to do with the FTC (Federal Trade Commission) cracking down on new scams. This made us think we should do a blog update on scams and pass out some new warnings from the FTC.

What’s new? Well, it seems scammers are now impersonating medical alert companies in order to get money or personal information (to steal your identity) from seniors. The scams are coming in the form of phone calls, sometimes with a live person and sometimes an automated or robocall. The calls are either trying to sell you a system, often using very strong tactics to get you to give your credit card or other payment information or they are stating that you (or someone you know) have already ordered the system and demanding payment. They have even been known to threaten legal action if you don’t pay up.

What you should know. Robocalls are illegal. But you may be asking, what is a Robocall? Well, direct from the FTC, here is an explanation of a robocall:

If you answer the phone and hear a recorded message instead of a live person, it’s a robocall. You’ve probably gotten robocalls about candidates running for office, or charities asking for donations. These robocalls are allowed. But if the recording is a sales message and you haven’t given your written permission to get calls from the company on the other end, the call is illegal. In addition to the phone calls being illegal, their pitch most likely is a scam.

So, what should you do if you get a robocall? The FTC recommends that you, hang up the phone. They also say you shouldn‚Äôt press 1 to speak to a live operator and don’t press any other number to get your number off the list. If you respond by pressing any number, it will probably just lead to more robocalls.

What else can you do?

• Consider contacting your phone provider and asking them to block the number, ask about whether they charge for that service. Remember that telemarketers change Caller ID information easily and often, so it might not be worth paying a fee to block a number that will change.

• Report your experience to the FTC online at http://www.consumer.ftc.gov/articles/0341-file-complaint-ftc or by calling 1-888-382-1222.

Some other helpful tips:

If you get an unsolicited call, hang up. Don’t even ask for details from someone making a cold call.

If you are interested in a medical alert product, gather the information and ask for documentation of fees up front.

Beware of offers that state your insurance will cover medical alert programs or that you can get them for free. Medicare, Medicaid and most insurance companies will not pay for this service.

Don’t pay for anything that you didn’t order. Hang up and contact authorities to make a complaint if you are threatened.

And again, don’t press any numbers as prompted in the robocall, this could just notify them that this is a live, working phone number and you could become the target of future calls or scams.

For more information from the Federal Trade Commission visit: http://www.consumer.ftc.gov/articles/0259-robocalls

Community Gardening and Its Impact on Seniors

Wednesday, July 17th, 2013

 Community Gardening and Its Impact on Seniors

In continued celebration of NJFA’s 15th Anniversary, we’d like to share with you a guest blog from a former grantee, The Camden City Garden Club, Inc.

The Camden City Garden Club, Inc. (CCGC) operates several programs, which provide Camden residents of all ages access to fresh, locally-grown healthy food.  The CCGC’s Community Gardening Program enables 1000s of Camden families to grow their own food in community gardens, close to residents’ homes and promotes fellowship among neighbors.  The Camden City Garden Club provides plants, seeds, fertilizers, fencing, supplies and tips to its members for a small membership fee.

Through the Community Gardening Program, the CCGC works with the community to fight hunger and obesity in Camden, NJ, which is the one of the poorest, most dangerous US cities and also one of the “Top 9 Food Deserts”, according to the USDA. In 2013, the CCGC celebrates 29 Years of the Community Gardening Program, which is “perhaps the fastest growing in the US,” according to University of Pennsylvania study.  Today, CCGC has created and supports over 120 community gardens, 100 family gardens, and 12 school gardens.  The CCGC is helping more than 12% of Camden residents to eat fresh food from these gardens, producing an estimated $2.3 million in fresh produce each year, according to the report by University of Pennsylvania.

CCGC PROGRAMS ARE ASSISTING NJ SENIORS

With support from foundations like the NJ Foundation for Aging(NJFA), the CCGC has increased community gardening with seniors at Camden senior residence facilities.  CCGC and NJFA have also established a Senior Citizen Advisory Council for the Garden Club to improve services to encourage seniors to garden.  The Council has been operating successfully with 10 members, who represent various communities in the City of Camden.  Council members serve as teachers, mentors and guides to advance community gardens in Camden, addressing the particular needs of senior citizens and their families.  They provide the CCGC with advice on the needs of seniors and serve as mentors for those wishing to start-up new gardens and improve their gardening methods.

The CCGC Community Gardening Program is multi-generational and multi-ethnic.  It has a way of bringing together people of different racial, religious and ethnic backgrounds and having them work together to grow food for themselves, their families and neighbors.   The study by the University of Pennsylvania found that Camden gardens were remarkable for the amount of surplus that they produced and their generosity in sharing it with their neighbors.  These programs are especially helpful to Camden’s elderly as they often to not have access to transportation, are on a fixed income and because growing fresh foods is so important to a healthy active lifestyle.

GARDENING AT SENIOR HOUSING & GROWING FELLOWSHIP

Since its founding, senior citizens have always been a cherished part of the Garden Club.  Many of the members were older people who were interested in gardening since the time they were young children.  Garden Club senior gardeners include African Americans who grew up on farms in the South, some from Mexico, Puerto Rico and others who remember gardening with their parents and grandparents on small backyard gardens. 

Through support from the NJFA, the CCGC has been able to expand their services for seniors.  The Club supports large gardens at Northgate I and Northgate II, senior housing developments that accommodate over 50 gardeners.  There are several other community gardens throughout the City of Camden which are led by and cultivated by the CCGC’s active gardening senior.  Some outstanding gardens have been attributed to senior gardeners:  Paul Williams has an extensive garden – both have been focal points of their neighborhoods and a source of a surplus of healthy food.   The CCGC has supported the extensive community garden called the “Men’s Garden” because of the large number of senior men who garden there, as well as, their utilizing the outdoor space as a meeting place. 

INTERGENERATIONAL GARDENING & LEARNING

CCGC’s Community Gardening Program also offers opportunities for intergenerational learning.  Seniors have the opportunity to mentor the Camden teenagers who work as part of Youth Employment and Job Training Program,.  In addition, CCGC hosts AmeriCorps volunteers, young people who are part of the program CCGC hosts who come to volunteer in Camden, help seniors with some of their gardening work in return for learning from them about gardening, food and life.  Hundreds of Camden school children participate annually in the CCGC’s GrowLab Program.  Many of these children have community gardens in their neighborhoods at home, so they often teach their families and neighbors what they learned in school.  The seniors enjoy working and teaching the children what they know about gardening and preparing healthy meals also! 

SUPPLEMENTATION DELIVERED

To help supplement the food grown in the community gardens, the CCGC also operates a successful mini farm stand at the Camden Children’s Garden, which sells produce to seniors to supplement what they are able to grow themselves, with items like seasonal apples, blueberries, peaches and corn.  The Fresh Mobile Market will sell quality fresh vegetables and fruit at low prices.  Some of the produce will be grown at the CCGC’s Urban Farm on 3rd and Beckett Streets in Camden, NJ.  CCGC Board member and supporter, Duffield’s Farm in Sewell, NJ, will also supply produce.  In addition, the newly launched Fresh Mobile Market Program will bring fresh foods even closer to the homes of elderly residents, with a special focus on senior housing.  This program was launched May 2013 at a senior living facility Mickle Towers, along with the Fresh Mobile Partners, including the NJ Department of Agriculture, NJ 5th Legislative District, Camden County Freeholders, City of Camden Mayor, City of Camden Council, Duffield’s Farm, Holman Ford Lincoln, Walmart Corporation, Whole Foods Markets.  Also, the CCGC’s “Camden Grows”, the USDA Entrepreneurial Gardening Program, will enable Camden Community Gardeners to make a profit by selling their surplus of crops to the Mobile Market Program. 

POPULATION SERVED

The target population for the NJFA grants were low income senior citizens.  Throughout the year, CCGC estimates that at least 1,400 senior citizens (20% of CCGC’s 7,000 gardeners have been served).  CCGC has exceeded their goals for Senior Community Gardening and will continue to work with seniors as an integral part of the garden program. 

In conclusion, seniors are important leaders in the CCGC, providing inspiration and direction to gardeners of all ages throughout the city.  There is a great excitement about CCGC’s Community Gardening Program in Camden and senior citizens are an important reason for that.

To learn more about the Camden City Garden Club go to http://camdenchildrensgarden.org/about.html

 

 

Affordable housing is more important than ever for low income seniors and low income families.

Monday, July 1st, 2013

Affordable housing is more important than ever for low income seniors and low income families.

A recent Appellate Division’s decision provides an important opportunity for municipalities to utilize much-needed housing trust funds to address the chronic shortage of affordable housing for low-income seniors across the state in the aftermath of Hurricane Sandy. Many of these funds were specifically designated for the development of senior housing in the nine counties hardest hit by the storm. This includes 131 senior units in Monmouth County, 6 special needs unit for the elderly by Cerebral Palsy of North Jersey in Livingston, Essex County; and 5 senior rental by Catholic Charities in Harrison, Hudson County.

The court’s decision comes at a critical time in this state’s history with the high demand for affordable senior housing and the rising cost of living. In just three short years, the cost of living for seniors living in a one bedroom apartment on a fixed income in New Jersey has increased 8 percent, according to data released in 2012 by the New Jersey Foundation for Aging (NJFA).

The cost of living for a single renter over the age of 65 was $25,941 in 2009. That same renter, living in the same one-bedroom apartment, saw her cost of living quickly climb more than $2,000 to $27,960, by 2012. However, there was not a comparable rise in income or Social Security.  Seniors on fixed incomes have been plagued in recent years with rising expenses for housing, transportation and health care. In many cases this has resulted in a rise in senior hunger and even homelessness. Their highest cost is their housing expenses.

Twenty five percent of all seniors in our state rely on Social Security as their only income. So NJ seniors can least afford the trend in rising expenses. The result is a widening of the gap between basic living expenses and their income. The NJ Elder Economic Index details these costs for seniors in each of the 21 NJ counties. These details indicate how seniors are faring in the slow economy. The latest data shows that 250,000 seniors over the age of 65 in New Jersey – representing 42 percent of single and elderly couples living in the community – do not have the money to cover their basic costs. Sixty-four percent of people in this group are women.

The report, known as the NJ Elder Economic Index, indicates that the average Social Security for a woman being $14,848. But average living expenses for a one-bedroom apartment in New Jersey has reached the $27,960 mark. So how can we expect to call these the golden years if elders must choose between food, heat, shelter or prescriptions? Even if a person worked and saved for retirement this rise in costs are unprecedented and these elders are one step from their own ‘fiscal cliff’. The New Jersey Foundation for Aging wants to alert and connect elders to resources in their community that might ease the financial strain they may be feeling each day. 

A woman receiving $14,848 from Social Security as her sole income with the average costs of a one bedroom apartment at $27,960 is only 53% economically secure.  At this income level she would be eligible for several food and nutrition programs, as well utility assistance programs. These programs would improve her quality of life and enable her to use her income to cover more of her basic living costs, but she would still fall short of meeting her costs by 21%. The only public benefit program that would help her to close the gap is affordable housing. 

The most costly portion of an elder’s monthly expenses is their housing. More than 46 percent of their income must go towards their housing, taxes and utilities.  This highlights the need for more affordable housing. The state’s housing shortage has been documented for several decades. And the need for affordable housing in the community for people of all ages has only been further stressed by the recent storms and floods across the state. Public awareness is a key component to help local advocates, state policy makers, municipal leaders and planners address current and future needs. Where you live at age 65 or 70?  Persons over age 75 and older have even fewer income assets. Where will your parents live at age 85?

If these funds are not protected and utilized, Otherwise low-income seniors and low-income families will continue to be displaced by Sandy and homeless for many years to come. Each municipality’s affordable housing trust funds are needed now more than ever for the development of new housing because of the impact of hurricane Sandy. We cannot afford to be silent on this issue. Elders who have been active in their community who want to downsize need affordable housing options; working families who want good schools and safe streets need affordable housing; health care workers who want to be close to their work and patients need affordable housing. A healthy blend of housing types is crucial to nurture a community’s cultural and social vitality as well as its economic base. “NJ Strong” must include affordable housing options to serve it residents and to build back the local economy.

*this was submitted and printed as an op-ed in the Asbury Park Press on 6/19/13 by Grace Egan, Executive Director, NJFA

Did you know? NJFA is celebrating our 15th Anniversary this year!

Monday, May 13th, 2013

Did you know?

Did you know that NJFA is celebrating our 15th Anniversary this year! Yes, NJFA was incorporated in 1998. It’s got us thinking, “what have we accomplished in all that time?” Well, the answer is, quite a lot. And we’d like to tell you about it.

When NJFA was established in 1998 it was formed with a mission to promote innovative approaches in the delivery of services that enable older adults to live in the community with independence and dignity through grant making to address unmet needs and through increasing society’s awareness to influence public policy. NJFA still seeks to hold true to that mission today, 15 years later.

Here’s how we’ve been doing so far:

NJFA has provided 44 grants to programs serving NJ Seniors.

Those 44 grants total $380,000 given to programs that serve more than 25,000 seniors across NJ.

NJFA provides public awareness through, Renaissance Magazine with 100,000 readers and Aging Insights, a public access TV program with 400,000 viewers, now on NJFA’s YouTube channel at http://www.youtube.com/njfoundationforaging

Public Policy- NJFA’s 2012 NJ Elder Economic Index Update Project is a continuation of Policy Work that began in 2009 with the first Elder Index report. The 2012 report adds demographic information to the cost of living report. Data is available in for all 21 Counties.

NJFA also continues to make transportation a priority, following the policy report, “Safe Mobility at Any Age” in 2005, we continue to work with partners like the Voorhees Transportation Center, Motor Vehicle Commission and AAA Automobile Club.

Professional Development-  15th Annual Professional Conference, June 12, 2013 Conference, Jamesburg, NJ. A day-long conference for professionals in  the aging network. Over 200 attendees will hear Nationally recognized key note speakers and be a able to chose from sessions on evidence based best practices and new initiatives for seniors and caregivers in NJ.

So you see, NJFA has really done a lot in 15 years and we hope to continue being a leading force in promoting “Aging Well” in NJ. Visit us at www.njfoundationforaing.org to learn more.

How can you help? When you visit our website, click on the donate here page to make a donation online or print out a donation form and mail it to us at 176 West State St, Trenton, NJ 08608.

Have questions or want more info? Call us at 609-421-0206 or email us at [email protected], we‚Äôd be glad to tell you all about our work!

After all, none of NJFA’s work would be possible without the support of our donors, partners, funders and of course our Board of Trustees and Senior Executive Council members!

 

 

Reverse Mortgage – Things to think over

Thursday, March 21st, 2013

Reverse Mortgage – Things to think over

In the Feb/Mar issue of Renaissance Magazine, NJFA featured an article about Reverse Mortgages. You can see the article (and the whole magazine) at www.njfoundationforaging.org/ren.html 

In the article, NJFA Board Member, Robert Jaworski, who is also an Attorney at Reed Smith in Princeton, covers all the bases for those considering a Reverse mortgage. As with any decision, there are many things to consider when determining if this is right for you.

One issue that has recently come to our attention via a few news articles has to do with married couples. If both parties are not listed on the document there can be difficulty when the person who did sign passes away. It is also important to note that both parties must be 62 or older to be listed on the reverse mortgage documents.

In one such story in the Washington Post recently, a woman in her 90’s was facing foreclosure because of this very issue. Even though both she and her husband were listed on the deed to the home, only her husband’s name and signature appear on the reverse mortgage documents.

It is clear that upon the death of the person who took out the reverse mortgage loan, the debt must be paid. However, the spouse living in the home should be spared that expense. But according to HUD, who oversees the programs, this is not the case if the spouses name does not appear on the documents.

But under a controversial policy that is drawing national scrutiny and at least one major lawsuit, HUD — the agency that runs the reverse mortgage program — now insists that when a spouse dies, and the surviving spouse’s name is not on the loan documents, the full mortgage balance becomes due and payable. If a relative or the surviving spouse cannot purchase the house and pay off the debt, the loan may be subject to a foreclosure sale. HUD’s reverse mortgage program, run through the Federal Housing Administration (FHA), has been big business. There were 582,000 loans outstanding nationwide as of November 2011, according to the Consumer Financial Protection Bureau, which issued a critical evaluation of the program last year. Reverse mortgages are restricted to seniors 62 years or older. The program allows homeowners to tap into equity and pull out money for use in their retirement years. As long as they pay their property taxes and hazard insurance, generally they don’t have to repay any of the money until they move out, die or sell the house.

The policy change on surviving spouses that has snagged a few of the people we’ve read about was not adopted until late 2008, That change has been challenged in a federal lawsuit filed by AARP, the seniors advocacy group. On behalf of two widows and one widower who were threatened with foreclosure, AARP charged that HUD disregarded clear statutory language that allows surviving spouses to remain in their homes even if their name is not on the documents. In an appellate court ruling last month, U.S. Circuit Judge Laurence H. Silberman said that the court was “somewhat puzzled as to how HUD can justify a regulation that seems contrary to the governing statute.”

This post is not intended to scare anyone or to suggest that a reverse mortgage is not a good option for some people, it is merely another fact to consider when looking into a reverse mortgage.

Be sure to question your broker and consider all parties living in the home before signing on the dotted line.

Here are some resources to answer any of your questions:

http://www.consumer.ftc.gov/articles/0192-reverse-mortgages;

http://www.aarp.org/money/credit-loans-debt/reverse_mortgages/;

  • The National Council on Aging

http://www.ncoa.org/calendar-of-events/webinars/reverse-mortgage-use-your.html or (800) 510-0301.                                                

  • NovaDebt

http://www.novadebt.org/housing_counseling.taf or 1-866-472-4557

 And here is a link to the article referenced :

http://www.dailyherald.com/article/20130201/entlife/702019968/

 

 

Go Direct

Thursday, December 20th, 2012

Go Direct

NJFA has done a number of blogs about Go Direct, a campaign alerting those who receive Federal Benefits (such as Social Security) that they must sign up for Direct Deposit for those benefits by March 1, 2013 as US Treasury will no longer issue paper checks after that date.

There are two options, direct deposit into your bank account or you may chose to receive your benefits on a pre-paid debit card. You can learn more at www.ssa.gov/deposit/

Today, we want to tell you that in this age of technology, scammers are finding more ways to target seniors. The Social Security Administration (SSA) reports that they have been receiving reports from identity theft victims that their monthly Social Security benefits had been sent to a different bank account or pre-paid debt card, without their knowledge or permission.

SSA and the Office of the Inspector General continue to investigate and track these cases. The incidents are related to widespread schemes, the same kind of fraudulent phone calls or emails targeting seniors that have been going on for years. Now, the scammers are using this personal information to re-direct direct deposit of Social Security benefits.

David Vinokurov of the Social Security Administration states, “to protect your identity, be wary of any calls or emails from people asking for personal information.” No legitimate company will make an unsolicited call asking for personal information like your Social Security number (SSN) or bank account. Mr. Vinokurov adds, “The Social Security Administration will never ask for your SSN, we have it.”

The SSA does not want anyone to fear signing up for Direct Deposit, they know it is a safe and convenient way for people to receive benefits. Unfortunately, scammers will always find a way to take advantage, so the best thing you can do is to closely guard your personal information. If you receive a call or email asking you for your bank account number, Social Security Number or other personal information, do not give it out. “Always pay attention to your bank statements and your credit reports” warns Mr. Vinokurov. You can receive a free credit report once a year, visit www.annualcreditreport.com to learn more.

Another safeguard through the SSA is that you can tell them that no changes may be made to your account unless you appear in person with ID, visit www.socialsecurity.gov/blockaccess

If you fear that your benefits may have been changed due to identity theft contact SSA immediately. For example, if you have not received your benefits and it is 3 to 4 days past your scheduled payment or if you receive a letter confirming a change to your direct deposit however you did not authorize this change, you should report the problem immediately to SSA.

To learn more about this type of fraud and how to report it, visit http://oig.ssa.gov/report-fraud-waste-or-abuse

 

 

 

The Affects of Sandy for Seniors

Wednesday, December 12th, 2012

The Affects of Sandy for Seniors

NJFA has partnered with NCOA on a few occasions to share a common message or service. NCOA’s One Away campaign has been something that NJFA has tweeted or facebooked about because we understand that many seniors (and many families) are one illness, one accident, on job loss away from a financial crisis. Now, as it turns out, they were just one hurricane away from financial disaster.

Before Sandy hit New Jersey, we knew there seniors who were living solely on Social Security. Many of them wondering by the end of the month how they’d make do until their next check. Sometimes, making a choice between food or medication or heat. NJFA has been aware of and worked on advocacy efforts for these seniors who are living on the edge of poverty.

NJFA’s 2012 Elder Index Update report shows that more than 25% of NJ seniors have difficulty closing the gap. We know that basic expenses in NJ for a single elder, in a one bedroom apartment are $27,960 a year. To read more of this report visit, http://www.njfoundationforaging.org/NJElderEconomicIndex2012.pdf

Certainly, seniors were among those affected by “Super-Storm” Sandy. Being displaced from their home, losing their belongings, are all things that may have pushed those living on the edge, over it. Those seniors may now be faced with not only how to stretch their dollars, but where to find dollars to replace their belongings or their home.

As we continue to hear stories about the people dealing with the recovery from the storm, we will see people like, Robert Ford, a disabled Vietnam veteran, whose family’s story of trying to save his home and keep him in it, was featured in the Asbury Park Press on Dec. 3rd. http://www.app.com/viewart/20121202/NJNEWS/312020047/Sandy-Highlands-veterans

In the article, you can read about how the family is struggling to find ways and money to rebuild the home and get Mr. Ford back where he wants to be. But it is not so easy for people that were barely making ends meet before the storm.

There are probably also many New Jersey seniors, who like Elaine of Maryland, who was featured in a video about senior hunger put out by the National Council on Aging, had her home flooded and wonders now how she’ll pay for the damage as well as continue to buy food, medication and pay for her heat. http://www.ncoa.org/get-involved/this-holiday-season-give-a.html

To find out about public supports and other programs that might help seniors in need contact your County Office on Aging, http://www.njfoundationforaging.org/services.html

Many Considerations Regarding Social Security Benefits, Who Knew?

Monday, August 6th, 2012

Many Considerations Regarding Social Security Benefits, Who Knew?

File and Suspend. Sounds like orders for a top secret spy. But no, it is a term used in the world of Social Security benefits. File and suspend means that someone can apply for their Social Security Retirement benefits but then suspend receiving their payments. Why? Well some people want to delay collecting their Social Security because there is a retirement bonus for putting off collecting your benefits. The reason that some individuals may elect to file and then suspend those benefits is so a husband or wife can collect spousal benefits presently and the individual can still receive the delayed bonus when they unsuspended their benefits at age 70.

Confused? So were we. Upon reading about this in a Social Security advice column in the Trenton Times, we did some research. There is a lot of information online about Social Security benefits and financial advice regarding applying for your benefits. As always, we suggest you start at the source and only trust information from the Social Security Administration website. This page on the Social Security Administration website, http://www.ssa.gov/retire2/suspend.htm tells you about your option to suspend benefits and a few cautions before making your decision.

If you receive Medicare Part B, you will be billed directly by Medicare for that premium which is usually deducted straight from your Social Security payment. If you suspend and are not receiving a Social Security payment but still are enrolled in Medicare Part B you will be billed for your premium for that coverage. The other caution which may affect less people is that if you are an SSI recipient, suspending your Social Security Retirement benefit will make you ineligible for your SSI benefits.

So, if you want to hold off until age 70 to receive your Social Security Retirement benefits and receive  bonus for delaying your benefits, whatever the reason may be, you can do so by using the file and suspend method. If you have questions or need further advice contact the Social Security Administration online at www.ssa.gov, on the phone at  1-800-772-1213, or TTY number, 1-800-325-0778, between 7 a.m. and 7 p.m. Monday through Friday. You can also contact your financial advisor.

Be sure to read the next issue of Renaissance magazine for important information on financial planning, social security and more. Don‚Äôt know how to find it? Ask us at [email protected]