Tuesday, October 09, 2018

Should seniors be "forbidden" to live alone sometimes?



Should seniors be able to insist on a “right” to live alone?
   
Reader’s Digest weighs in here, with ten warning signs, which includes Internet and social media behavior. 

 As far as unopened mail – there is just too much junk.


A Place for Mom obviously has a commercial motive for this advertorial blog post on the matter, but here it is. 

In various states, other adults (not always just relatives) can plea for court supervision or guardianship (or conservatorship). But for adult children and in states with filial responsibility laws, the adult kids may have no choice.

Here’s another one  .

None of these sources take up the problem of introverted seniors used to solitary intellectual activity.  They may not fit very well into the social climate of assisted living. David Malouf’s comedy short film “The Pharaohs” covers this problem.
  
For me, downsizing out of a house into a highrise condo (no risk from stairs) is a plus.
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Saturday, October 06, 2018

Wealth gaps occur within retirement communities, and can be narrowed by shared disasters



The Wall Street Journal, in a booklet article Oct. 3, notes the wealth gap growing within retirement communities, discussing Oakmont in the wine country in northern California.

Fewer retirees have adequate wealth from 401(k)’s after companies started freezing pensions in the late 1990s, replacing them with greater matching savings.
  
Recent wildfires seems to have brought the retirees together and put them more in one boat.

Wednesday, October 03, 2018

You're retired and have assets, and suddenly your bank account is frozen. Can this happen?



Retirees who have parts of their wealth in trusts and other portions in their own name should be cautious in moving money around and “follow the rules” in their documents, even if no one is watching (like an attorney or executor).
   
Banks can freeze accounts for suspicious activity, as “Investopedia” explains here.   Unusually large deposits from suspicious sources (overseas) could trigger freezes.  It sounds reasonable that large deposits from trusts to individual accounts could be viewed as laundering in some cases.


Of course, sometimes debt collection or IRS collection can cause freezes of accounts. 
  
I found a site called “Daily Reckoning” that sounds a bit like Porter Stansberry, with supposedly “elite” to freeze the financial system, this time in case the Chinese suddenly greatly devalue their currency. I’m not sure I buy the logic of this.