Seminars help seniors make decisions about their finances, health care and lifestyle
GOSHEN, N.Y. (March 28, 2012) – It is estimated that of all the people who have ever reached age 65, half of them are still alive today. Because men and women are living longer than they ever have, Glen Arden – the Hudson Valley’s premier continuing care retirement community– has begun educational seminars to help seniors make decisions that will provide them with financial security, a healthy lifestyle and peace of mind. The first seminar – held in March – reached its capacity with 60 participants; two more seminars are planned for April and May.
“It is very important for senior citizens to be educated and informed about financial and lifestyle choices that affect both them and their families,” said Maureen Torelli, Glen Arden Administrator. “Glen Arden is proud to be a leading resource for senior citizens as they plan for their future.”
According to the U.S. Department of Health and Human Services, the average lifespan for someone born in 1900 was 46 years for a man and 48 for a woman. In 2007, the average lifespan increased to 78 for a man and to 80 for a woman. The estimated number of centenarians (those who are 100 years old or older) in the United States, totaled 110,000 in 2011. In 2040, that number is projected to reach 700,000.
“Many of us think we’ll never need long-term care, but the truth is that 60 percent of us who reach age 65 will require care,” said John C. Pennington, an expert on senior living and President of Kedney Marketing Services, who recently spoke to a group of 60 senior visitors about health care and retirement living options.
Pennington also discussed the importance of exercise, as referenced in a January 2010 Wall Street Journal article titled, “The hidden benefits of exercise”:
· Exercise will lower the risk of stroke by 27 percent.
· It will reduce the incidence of diabetes by approximately 50 percent.
· It will reduce the incidence of high-blood pressure by approximately 40 percent.
· Exercise can reduce mortality and the risk of recurrent breast cancer by about 50 percent.
· It can lower the risk of colon cancer by over 60 percent.
· Exercise can reduce the risk of developing Alzheimer’s disease by 40 percent.
· It can also decrease depression as effectively as Prozac or behavioral therapy.
Pennington also discussed future finances and how you may protect your nest egg. He said that a Glen Arden market research study shows that assisted living in our region currently averages $54,000 annually, and skilled care averages more than double that amount – $126,000. This year, health care costs are projected to climb 9 percent. But, at just a 6 percent increase each year, skilled care costs would grow to over $378,000 per year in the next 20 years. That would equal $1,036 per day.
The Wall Street Journal reported that a couple turning 65 has a 75 percent chance that one of them will need long-term care.
“The high costs can quickly erode the financial foundation seniors have worked so hard to build and preserve,” Pennington said. He presented seniors with some options:
· Do nothing and stay in your own home, but you are gambling with your health.
· Move in with your children, however that may be uncomfortable for you and your children.
· Look into a home health care plan, but you may be socially isolated and inactive in your senior years.
· Purchase long-term care insurance, but there is no perfect policy.
“Or, seniors could investigate a senior living community. To live a longer, healthier life and to avoid financial ruin – a continuing care retirement community (CCRC) like Glen Arden is an excellent choice,” Pennington said. “Glen Arden – which is a not-for-profit life care community – allows you to forecast your future costs, assure your quality of life and provide a peace of mind.”
You must be capable of independent living at the time of moving into Glen Arden. Should the need arise, Glen Arden also offers assisted living and skilled care. Independent living provides seniors with their own apartment home while assisted living and skilled care provide for private rooms with a private bathroom and shower.
“One of the best gifts you can give your children is to have a plan for your future so your children aren’t making difficult decisions for you,” Pennington said. “It’s more important than ever for seniors to be proactive and to make choices that benefit their finances, health and lifestyle.”
The next two seminars are scheduled for April 16 and May 11 at 11 a.m. at Glen Arden. For additional information regarding Glen Arden’s informational seminars, contact 845-360-1410 or e-mail email@example.com