Th
e cost of health care for a 65-year-old American couple retiring this year rose to $280,000 — a mere 2% if that’s any comfort — but that’s no reason for a sigh of relief. The figure doesn’t include long-term care costs, and it’s going to go up every year for the foreseeable future, experts said.
From the U.S. News & World Report website
If your money runs out long before the month does, you might be thinking about dropping your life insurance coverage. Eliminating premiums, particularly on pricey whole and universal life policies, can free up money in your budget for more pressing needs.
But don’t let that policy lapse just yet. According to Marv Feldman, CEO and president of Life Happens, a nonprofit group that provides educational resources about the insurance industry, many people don’t realize that they may have ways to maintain their coverage or even make money off a plan they can’t afford.
From downsizing the death benefit to selling your coverage for a profit, here’s what you should know about your life insurance options.
This photograph shows brothers Bo and Matt Masuyama in 2003. Bo was part of a contingent of Hawaii Air National Guard members who flew opportune airlift to McGhee Tyson ANGB, Tennessee to the Academy of Military Science graduation. Matt was of several HIANG members receiving their commissions that morning.
Bo served in the Air Force before joining the HIANG as an Airlift pilot. Matt enlisted and served in the 291st Combat Communications Squadron (Hilo) before his commissioning. Both brothers served long careers in the HIANG and have retired.
Mahalo to Bo and Matt for their service
From the U.S. News & World Report website
Medicare provides valuable health insurance for individuals 65 or older and certain people with disabilities who are under age 65. But it also comes with complex rules and sometimes significant out-of-pocket costs.
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From the Task and Purpose website
It was March 4, 2002. American special operations forces were fighting to establish observation posts high above Afghanistan’s Shah-i-Kot Valley, as conventional troops continued their push through the valley floor below.
One of those men, Air Force Technical Sergeant John Chapman, was alone in the pitch-black, wounded and slowly regaining his consciousness in the thigh-deep snow of a 10,469-foot peak known as Takur Ghar, as scores of Al Qaeda fighters closed in.
For his actions earlier in the battle and for his incredible bravery on that peak, according to sources familiar with the matter, Chapman will be posthumously awarded the Medal of Honor later this year.
And “Chappy” — as he was known by his teammates — will be the first Air Force service-member to receive the nation’s highest award for valor since the Vietnam War.
From the U.S. News & World Report website
If your will’s collecting dust in a file somewhere, it might be time to pull it out and brush it off. Just as your life changes, so should your will. You may need to replace an executor, update accounts or adjust heirs. If you have a basic will, you may be able to draw up or revise one using software or an online template. However, those with greater wealth or needing more complex arrangements, such as trusts or guardianship provisions, may want to work with a professional estate attorney instead.
Even if you’ve already drawn up a will, if you’re in one of these situations, it’s a good idea to review your final wishes and make any necessary changes so your money and personal belongings are left in the right hands.
Originally from the This Day in Aviation website
On April 28, 1988, Aloha Airlines Flight 243, a Boeing 737-297 airliner, FAA registration N73711, named Queen Liliuokalani, was enroute from Hilo International Airport (IPO) to Honolulu International Airport (HNL) with a crew of 5 and 89 passengers. The aircraft commander was Captain Robert L. Schornstheimer, an Airline Transport Pilot with 8,500 flight hours, of which 6,700 hours was in the Boeing 737. First Officer Madeline Lynn Tompkins also held an Airline Transport certificate. She had flown 8,000 hours with 3,500 in the B-737. A Federal Aviation Administration air traffic controller was on the flight deck as an observer.
First Officer Tompkins made the takeoff at 1:25 p.m. and climbed in visual conditions to Flight Level 240 (24,000 feet/7,315 meters), reaching that altitude at about 1:48 p.m.
On a typical morning, you’re likely to find Chris Kelly, 64, at his neighborhood YMCA in Downers Grove, Ill. The retired captain for United Airlines starts his day with an early workout.
“I’ve always enjoyed physical activity,” says Kelly. “I wasn’t a natural athlete but I gravitated toward things like running and lifting weights… and I played hockey for about 20 years.” While his hockey days are behind him, he stays fit with a mix of cardio and lifting weights.
Kelly doesn’t have to make himself go to the gym; it’s simply part of his lifestyle. And anyone over 50 can make the transition from sporadic workouts to a more committed routine. The key to becoming a lifelong exerciser has less to do with access to a gym or even having perfect health and more to do with other factors that you can control.
Here are seven ways you can start working out — and stick with it:
From the Everyday Health website
An anti-cancer diet is an important strategy you can use to reduce your risk of cancer. The American Cancer Society recommends, for example, that you eat at least five servings of fruits and vegetables daily and eat the right amount of food to stay at a healthy weight. In addition, researchers are finding that certain foods that prevent cancer may be an important part of an anti-cancer diet.
Although selecting cancer-fighting foods at the grocery store and at mealtime can’t guarantee cancer prevention, good choices may help reduce your risk.
From the U.S. News & World Report website
In many ways, retirement is unknown territory. After spending several decades in the workforce, bringing in income and saving for the future, you now need to spend and manage that money.
Stepping into this new phase of life sparks change for your finances and lifestyle. “It is hard to grasp the concept of not having that paycheck to receive every other week,” says Dawn-Marie Joseph, president and founder of Estate Planning & Preservation in Williamston, Michigan.
For most individuals, regardless of the time and energy you’ve spent planning for this period, there will still be some surprises once you enter retirement. Here are some of the most common financial myths about retirement, as well as the truths and realities behind them.
From the Reuters website
The majority of people believe cardiopulmonary resuscitation (CPR) is successful more often than it tends to be in reality, according to a small U.S. study.
This overly optimistic view, which may partly stem from seeing happy outcomes in television medical dramas, can get in the way of decision-making and frank conversations about end of life care with doctors, the research team writes in American Journal of Emergency Medicine.
On September 22, 2009, the 154th Wing hosted as ceremony and luncheon to honor the last F-15 Eagle left the Hawaii Air National Guard flightline. It was aircraft 77-074, but we couldn’t find the name of the pilot who flew this last flight.
Among the many pilots and maintenance retirees were (L-R) Wayne Soma, Rex Koga, and Stan Lum. All served for many years in the maintenance complex working on F-86 Sabres, F-102 Delta Daggars, F-4 Phantoms and F-15 Eagles.
Three recent pieces of news out of Washington, D.C., may mean more certainty and better coverage for current and future beneficiaries of Medicare — the federal health program for people 65 and older.
