9 minute read
A day just for Mom [COVID edition
from May 2020
Come see us at Eagle Ridge!
• Physical, Occupational and Speech Therapies • Short-Term or Long-Term Care • Private Rehab Rooms • Hospice Care
2425 Teller Ave, Grand Junction
243-3381
Call or stop by today to see how we can serve you!
FREE IN-HOME ASSESSMENT
INSULATE
▼▼▼▼▼▼▼▼▼ ▼▼▼▼▼▼▼▼▼
CALL US BEFORE YOU BUY AN EXPENSIVE NEW COOLING OR HEATING SYSTEM
Jim Schooley, Owner-Operator. Over 35 years of experience. BBB A+ Rating Licensed and Insured. Serving the Grand Valley.
Properly installed blown-in attic insulation:
• Saves money on annual cooling and heating costs • Eliminates hot and cold areas in your home • Makes living in your home more comfortable year-round
970-640-3908 Grand Valley Home Insulation grandvalleyinsulation.com
A day just for Mom [COVID edition] Mother's Day gifts she'll treasure
By Kimberly Blaker T he role of mothers in shaping their children’s lives is unsurpassed. Mothers teach us to love, be strong, confident, persist, live life to its fullest and be the best we can be.
Mother’s Day is Sunday, May 10. Coronavirus aside, give her the gift of your heart and time and make it a special day she’ll treasure. Here are some ideas:
Mother’s Day brunch - Serve Mom a scrumptious breakfast or bring her takeout from her favorite local restaurant. For her safety (and yours), consider preparing it at home and enjoying it with her outdoors in the backyard or patio, or even over FaceTime. The following menu will be sure to make her smile: fruit salad, juice, waffles or pancakes with her favorite blueberry or strawberry topping, Canadian bacon or fresh sausage, omelets or eggs benedict, homemade hash browns, and coffee cake or Danishes.
Plant spring blooms - If Mom’s a gardener, chances are she’s spending a lot of time these days in the garden. Bring her favorite annuals and perennials. You can even help her plant—just keep your distance.
Create a memory book - Give Mom a keepsake that'll be dear to her heart, with which she can pass the time. Create your own memory book. Use a scrapbook or journal and include photos and memories about special times the two of you have had together, important things you remember about her from your childhood, how she’s inspired you, and the times you look forward to in the future.
Family portrait - If your family is like most, you're well overdue for an updated family portrait. Schedule to have your family's picture taken at a studio, or hire a photographer for a photoshoot in the park once this pandemic is over. Many photographers are supplementing their lost income from cancelled events during COVID-19 by offering gift certificates at a discounted rate. Coordinate with family members in advance on the formality and color scheme, so outfits don't clash. Inform Mom how to dress for her special day, but keep the reason a surprise.
Poetry - You don't need to be a poet to write a special verse for Mom. In your poem, share what it was like growing up with her, how she influenced your life, or tell her what she means to you. Then print it on stationery, and matte and frame it.
A little pampering - Mothers spend years pampering their children and caring for them when they're ill. Give Mom a gift certificate for pampering at the spa where she can enjoy a Swedish massage, hair design, manicure and pedicure, or a soothing facial once it’s safe to do so. You could even compile items such as bath salts/ bombs, facial masks, lotions and candles (and a good book) into a gift basket for her to use at her convenience.
Keep it simple - Spend some time together outdoors. Head to a nearby park where you can meander along nature trails reminiscing, walk your dogs, or take a scenic bike ride. ■
To be a volunteer, it takes…
Generosity; a willingness to give your time to others. U nderstanding, because their lives might be very different from your own. E mpathy; an ability to put yourself in someone else's shoes, and feel what they must feel. C ompassion, to truly care about making someone else's life better. P atience, because the process doesn't always go as smoothly as it might. Dedication, to stick with the project and see it through.
Volunteer with us! Call the Foster Grandparent or Senior Companion Programs (970)298-9091 www.WesternSlopeSeniorVolunteers.org
Volunteer of the Year voting extended! Deadline July 31
Grand Junction BeaconFest is rescheduled for Wednesday, August 19, and so is our 2020 Volunteer of the Year ceremony. All volunteers will be recognized and the winner will be announced at BeaconFest at Two Rivers Convention Center. Click here to vote.
1) Read about each volunteer 2) Choose your favorite volunteer:
❒ Laurie Buniger ❒ Randy Cook ❒ Karen Hughes ❒ Jerry Johnson ❒ Barb Kremski
❒ Tricia Powell ❒ Cathy Thomas ❒ Deborah Thompson ❒ Ed Wacker ❒ Becky Walker
3) Cast your vote Vote online at www.BeaconSeniorNews.com or mail this ballot to:
Senior Insurance Broker
Specializing in: • Medicare Advantage or Supplement • Medicare and Medicaid Insurance • Term and Whole Life Insurance • Final Expense Insurance • Cancer Insurance • Heart Attack and Stroke Insurance • Dental and Vision Insurance • Legal Shield • Identity Shield
Martin Crowe 970-260-8285 2755 North Ave Suite 105., Grand Junction
The SECURE Act Boon for seniors’ retirement finances but understand the risks
By Karen Telleen-Lawton C OVID-19 and its far-reaching effects have dominated the news for months. Fears of illness and financial instability are both overwhelming stressors for seniors. A deep concern for many is expressed in a World Economic Forum prediction that the average 65-year-old will outlive his or her savings by a decade or more.
The SECURE Act of 2020 was designed to address this prediction. The House version passed back in July 2019 with a phenomenally bipartisan vote of 417 to 3. The Senate acted on a modified bill in the fall, which become law December 2019.
The SECURE Act (Setting Every Community Up for Retirement Enhancement) is designed to encourage and strengthen personal retirement accounts. While there are promising provisions, it pays to understand the details of the act. The financial industry spent millions of dollars in lobbying efforts—a strong indicator of who expects to benefit.
So, what’s in it for your average seniors? The act’s three main provisions call for: • Helping to reduce small employer set-up costs for retirement plans. • Increasing access to annuities options inside retirement accounts. • Major changes to the rules governing retirement accounts and required minimum distributions.
PART-TIME BENEFITS For small businesses, SECURE aims to reduce the cost and administrative headaches of setting up employee 401(k) retirement accounts. It offers employers a $500 tax credit for starting such accounts. It also increases the cap from 10 to 15
percent of wages under which small businesses can set up automatic “safe harbor” retirement plans. Finally, it allows part-time workers to be included if they work a minimum of 1000 hours or 500 hours for three consecutive years.
An increasing number of seniors work part-time hours. This new provision allowing seniors to continue setting aside retirement money is a valuable asset. Depending on your circumstances, you may be better off saving outside of a small company plan, which may have higher costs than large companies can negotiate. But unless you are uber-disciplined to do it on your own, a company retirement plan is a great option. The main advantage is that it reduces your temptation to spend those funds.
THE RISKS OF ANNUITIES Annuities are an even trickier issue. They are sound in theory—you can think of them as a private version of Social Security. You put down a sum of money (or a stream of money from each paycheck) and in return receive a monthly check for the rest of your life (or a specified period of time). The complexity emerges in the details. For retirement account holders, the fees paid can be both steep and obscure. Whether considering a purchase within or outside a retirement account, it’s imperative to understand the fees before you choose to invest in an annuity.
Moreover, private annuities aren’t
backed by the federal government like Social Security. In the years or decades before a worker begins to collect on an annuity, the insurance company offering the product may go out of business. This can be catastrophic for the retiree as well as a liability for the employer offering the retirement account.
The annuities provision in the SECURE Act encourages employers to offer annuities in retirement plans. Before the Act, few companies offered annuities, partially because of the risk in choosing an insurance company that could go out of business in the years or decades before the retired employee begins to the payout. Annuities’ high fees have also made them an unpopular choice for workers even when offered.
The Act may increase annuities’ popularity to companies by reducing their liability if the insurer goes bankrupt. On the other hand, that could result in more insurance companies with dubious reputations offering annuities. The issue of annuities being laden with fees is also not addressed. It remains to be seen whether workers choose this option.
Whether or not annuities are part of your IRA package, other provisions of SECURE make it highly relevant for upcoming seniors.
The Act brings about significant changes to IRA distribution rules. It allows seniors in the workforce to continue contributing to their IRAs after age 70-1/2 (the previous limit). It also pushes to 72 (from 70 ½) the age at which account owners need to take required minimum distributions (RMDs). Other new provisions involve rules around inherited IRAs.
Check with your accountant or tax advisor for details on which provisions apply to you. As with any part of your retirement plan, it pays to understand the details. We all hope to make it to the other side of COVID-19’s reaches. When we do, let’s arrive with our health—and our retirement plans—intact. ■
Subscribe to the...
YES! I want to subscribe.
name
address
city
phone number
credit card
exp. date
1 year $20.00
state
cvc
2 years $30.00
zip
Mail form with check to:
The BEACON, P.O. Box 3895, Grand Junction, CO 81502
Age Well. Live Well.
ASSISTED LIVING | MEMORY CARE
LIMITED TIME: Spring Move-in Specials!
Shopping Center 26 1/2 Rd
The Lodge at Grand Junction
Entrance
8th Ct
Grand Junction’s newest intimate senior community is open. You’ll experience easy Colorado living in a setting designed to support your lifestyle and well-being. Tours available 7 days a week.
