Hyung-jin Kim, Associated Press Updated 8:20 pm CDT, Friday, August 24, 2018 In this Aug. 22, 2018, photo, Kim Kyung-jae, 86, speaks in front of letters sent from his North Korean sister during an interview at his office in Seoul, South Korea. Kim is one of a dwindling number of elderly South Koreans who, frustrated with North Korea’s reluctance to allow more frequent reunions and by the small chance that they’ll be selected before they die, found unofficial networks to communicate with their North Korean relatives. less In this Aug. 22, 2018, photo, Kim Kyung-jae, 86, speaks in front of letters sent from his North Korean sister during an interview at his office in Seoul, South Korea. Kim is one of a dwindling number of elderly ... more Photo: Ahn Young-joon, AP In this Aug. 22, 2018, photo, Kim Kyung-jae, 86, points to his hometown on a map of Korean Peninsula during an interview at his office … [Read more...] about Elderly Koreans shut out of family reunions use backchannels
Helping elderly parents with finances
By Helen Dennis | [email protected] | PUBLISHED: July 26, 2018 at 11:33 am | UPDATED: July 26, 2018 at 8:49 pm Q. I am in my mid 60s, live alone and never had children. Many of my friends talk about how their children and grandchildren are such a large part of their lives. I don’t have this. How do I look ahead and plan for a time when I will likely need help and there won’t be family around to help me? S.K. Dear S.K. You have raised an important concern shared by Sara Zeff Geber in her recently published book, “Essential Retirement Planning for Solo Agers” (Mango Publishing, 2018). She writes that for those without children, “Whether married/partnered or single in the second half of life, you will not have the safety net of that immediate younger generation to count on later in life in an emergency or even an extended illness.” The number of solo agers is increasing. According to a report from AARP, almost 12 percent of women ages 80 to 84 were … [Read more...] about Successful Aging: I don’t have children, so who will help me as I get older?
Susan Tompor Detroit Free Press Published 10:00 p.m. UTC Jun 21, 2018 Rhonda and Lonnie Edwards Jr. had good middle class jobs most of their lives. He worked nearly 35 years in an hourly union job at General Motors. She had a job in Detroit Public Schools for 13 years as an attendance agent and earlier as a parent liaison. She later worked for the state unemployment agency for another 10 years. "We were just middle-income earners. My goal was to be debt free by the time we retired," said Rhonda Edwards, 63. Things didn't quite work out that way. The medical bills hit after Lonnie, now 67, was diagnosed with prostate cancer in 2007, just three years after he had taken an early retirement in his 50s. Around the same time, their finances took a dive during the depths of Detroit's housing crisis when they had plans to buy to a smaller co-op but had trouble selling their family home in the well-regarded University District in Detroit and ended up … [Read more...] about Retiring with debt? More Americans are. Here are some strategies
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page By Susan Moeller June 05, 2018 IF YOU’RE A BABY BOOMER entering the tunnel of possible retirement, there’s one hard truth to acknowledge: Bad stuff happens. No matter how prepared you think you might be — and experts say boomers are, generally speaking, quite unprepared — unforeseen events can derail finances. Take just a few that hit me starting in my 50s: divorce, serious health issues, and family crises. And that’s just the big stuff. Even if you downsize, the car will still need new tires. The old dog will tear his ACL. And the condo association will raise its fees.You’d think boomers would be OK. We hold 60 percent of the wealth in the United States, according to a report by the management firm McKinsey and Co. But we have also accumulated unprecedented levels of debt and will actually need the Social … [Read more...] about Stop giving so much money to your kids and 8 more ways to afford retirement
This article is available to Members of The Local. Read more about membership here. The budget presented on Monday includes 2.6 billion kronor worth of additional investments to those outlined in the autumn budget. Most of this money is earmarked for health and elderly care, while the police force and customs can also expect a boost. This is unsurprising, with healthcare and security two key issues for Swedish voters, but what does the budget proposal mean for day to day life in Sweden? Here are seven key points. Shorter waiting times to see a doctor More than half of the extra investment is going to welfare: a total of 1.5 billion kronor. The government has pledged an extra 200 million kronor for healthcare on top of the 400 million already set aside. This will go directly to Sweden's regions in order to recruit and retain staff who can help plug skills shortages – including those with in-demand skills who want to work even after reaching the retirement age. The … [Read more...] about What Sweden’s spring budget means for you