BEACON - Retirement Planning (October 2014)

Avoid fumbling in the red zone of retirement

Medicare Monday October 20

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October 2014

How to avoid fumbling the football in the red zone of retirement

The 6 documents you need for your estate plan playbook

F

ootball is a big deal in the U.S. and so is the surge of retirees—10,000 baby boomers every day for the next 18 years. The last thing pre-retirees want to do at this stage of their life is to fumble while in the red zone of their retirement date.

“According to New Retirement Landscape, only 23 percent of preretirees have calculated how much they’ll need to save for retirement,” multi-certified planner Larry Roby said.

“While three-quarters say they’re confident in the red zone of retirement, an equal amount of people haven’t even done the math yet.”

He said confidence in your retirement portfolio is good—if it’s justified.

“Otherwise, it can lull people into a false sense of security and lack of preparedness,” he said.

Having a diverse portfolio and understanding your options for life insurance, Social Security, 401(k) or other retirement accounts are staples for retirement planning. But often, there are six crucial documents that are either not in an individual’s playbook or are overlooked.

Here are the six documents you need for a solid red-zone estate plan.

• Joint Ownership - Enables you to own property jointly with another person and upon the death of the joint tenant, the surviving joint tenant automatically becomes the owner of the property.

• Last Will and Testament – A legal document which expresses the wishes of people concerning the disposition of their property after death and names the person who will manage the estate.

• Durable Power of Attorney – Grants authority to another individual to act on behalf of the person who executes the instrument and is commonly used for legal and financial purposes.

• Durable Health Care Power of Attorney - Grants authority to another individual to make health care decisions on your behalf should you be unable to make such decisions.

• Advance Care Directive – A set of written instructions in which a person specifies what actions should be taken for their health, if they are no longer able to make decisions due to illness or incapacity.

• Living Trust – Created during your lifetime. Assets are transferred to the trust while you are alive. This provides written instructions for the disbursement of the trust assets upon your death.

“These documents can play a vital role in the major plays during the fourth quarter of your life,” Roby said. “Understanding how they work now can make the difference between a last-minute victory or loss.”

Larry Roby is the founder and president of Senior Financial Advisors, (www.sfabridge.com). He is a four-year member of the Million Dollar Round Table and has achieved “Court of the Table” status for the past three years. Roby attained his Series 65 license, which allows him to serve as an Investment Advisor Representative. He is also a Registered Financial Consultant, IARFC.org; RICP, Retirement Income Certified Professional; Licensed Insurance Agent and MCEP, Master Certified Estate Planner – NICEP.com. ■

There are six crucial documents that are either not in an individual’s playbook or are overlooked.

October 2014

How to navigate retirement in the 21st century

W

hile the world is still feeling the long ripples of the economic meltdown that began six years ago, our economic institutions remain “too big to fail.”

At least, that’s what is in the minds of millions of retired Americans and those soon to join their ranks.

“That’s what we see when we review their retirement portfolios,” Certified Wealth Strategist and Estate Planner Curt Whipple said. “I see it all the time: A new client comes in with what they believe to be a ‘diverse’ portfolio. While it may be diverse in terms of Wall Street holdings, a solid retirement plan also requires diversity outside of a system that’s ‘too big to fail,’ which could fail yet again.”

When Wall Street falls, it shouldn’t mean that Main Street must as well.

Whipple outlines the three kinds of money retirees should have available for enjoying the golden years with

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peace of mind.

• Red money can be defined as that which is tied to Wall Street, by far the most popular kind of investment, including stocks, bonds and mutual funds.

“I’ve been looking at the accounts of new clients for nearly three decades and on average, 92 percent of their retirement plan is based in these investments,” he said. “That’s risky, especially as you get closer to retirement age or once you retire.

You don’t want 92 percent of your retirement premised on that kind of potential volatility.”

• Blue money is often referred to as “alternative investments,” which typically include Real Estate Trusts (REITS), equipment leasing programs, precious metals such as gold and silver, high-grade rare coins and collectibles.

“This ‘color’ of money has been an important portion of the pie for suc-

cess in my clients’ investments; they were essentially unaffected by our recent economic collapse because they were so well diversified,” he said.

This is a highly advantageous part of a portfolio because it historically creates good income with a low correlation to the stock market.

• Green money is the term for accounts that come with a guarantee of some sort. They are either backed by insurance companies, the FDIC or the Legal Reserve System, which is supported by the insurance industry.

“Not all wealth is created equally, and this is the safest kind of money you can have in your plan,” he said.

Green money includes investments in one’s portfolio that guarantees not to lose one’s principal and sometimes, one’s earnings.

“Investment in Wall Street should be lower for those who are either retired or are about to be retired,” Whipple said.

“Depending on a person’s age, a good investment portfolio could include about 36 percent red money, 32 percent blue money and 32 percent green money.”

Curt Whipple, Certified Wealth Strategist (CWS) and Certified Estate Planner (CEP), is Chief Managing Partner at the C. Curtis Financial Group, which he formed in 1986. Since then, Curtis Financial Group has counseled and advised individuals and corporations on their financial goals and decisions. Whipple is a nationally recognized speaker. ■

“Depending on a person’s age, a good investment portfolio could include about 36 percent red money, 32 percent blue money and 32 percent green money.”

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Do AB trusts still make sense in retirement planning?

By Billie M. Castle

T

here was a time when an estateplanning tool known as the AB trust allowed couples to maximize federal estate tax exemptions and save beneficiaries significant tax liabilities. But a subsequent increase in the estate tax exemption has made AB trusts unnecessary for many couples, turning what once was a good plan into a potentially worstcase scenario.

Couples who still have AB trusts

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should consult with a qualified estate-planning attorney to determine if an AB trust is still appropriate or if other planning techniques might work far better in achieving their goals.

Under the terms of an AB trust, each spouse leaves property to an irrevocable trust to be used for the benefit of the surviving spouse. While the surviving spouse doesn’t own that property, he or she can continue to use a home, earn income from investments and under certain conditions, access the principal for the remainder of his or her life. Because the surviving spouse doesn’t own the property, it’s not subject to estate taxes. So when the surviving spouse dies, the ultimate beneficiaries inherit the property with lower tax liabilities.

AB trusts made sense when the federal estate exemption was only about $1.2 million per couple. That exemption now totals more than $10.6 million. Moreover, any unused portion of the exemption on the death of the first spouse can be applied following the death of the surviving spouse. In other words, the combined value of

a couple’s estate must exceed $10.6 million before federal estate tax becomes an issue. Very few people need an AB trust for estate tax purposes.

Tax issues aside, AB trusts still offer some advantages to couples with children from previous marriages who want to avoid potential conflicts over inheritances.

Otherwise, AB trusts impose unnecessary legal and accounting fees, including the separate tax returns that must be filed for such trusts each year following the death of the first spouse. In addition, AB trusts can create situations in which the value of appreciating real estate, stocks or other property could result in significant capital gains taxes upon their sale.

Perhaps worst of all, though, AB trusts can impose restrictions on how the surviving spouse uses property—restrictions that weren’t in place before the death of the first spouse.

People who still have AB trusts should check with a qualified attorney to determine if such trusts still make sense. ■

Couples who still have AB trusts should consult with a qualified estate-planning attorney to determine if an AB trust is still appropriate

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e have decided to take Social Security at age 62.

We know there are as many ways to consider this decision as there are days in a year.

And many experts advise against taking Social Security “early” so that you get a bigger check at full retirement age. It’s hard to argue against that.

We have always lived an unconventional lifestyle, and the fact that so many experts agree on waiting for payment gives us pause for thought. Here is our logic.

First, the S&P 500 index has averaged over 8 percent per year, plus dividends, since we retired in 1991. If we take Social Security early and invest it, we won’t be losing the 8 percent per year the experts claim is the annual increase of waiting.

However, we understand that one is guaranteed and the other is not.

Maybe the markets will trend sideways or go down or even up. No one knows.

For the last 24 years we have lived off of our investments through up and down markets, and could easily make it another four if necessary, so investing the monthly check is definitely an option. More likely, we will just not spend our stash and look for opportunities in the markets as our cash positions grow. Plus, we have

control of the money at this point, adding to our net worth.

Next let’s look at some numbers.

For easy math, say at 62 you are going to receive $1,000 per month in benefits, but if you wait until you are 66, your payment will be $1,360. ($1,000 x 8 percent for the four years you have waited.) Sounds great, right?

However, you would have missed receiving $48,000 in payments from the previous 48 months. How long is it before you make that money back? Using this example it would take 133 months or a little over 11 years ($48,000 divided by $360) and that would put us at 77 years of age, just to break even.

In that time frame, the Social Security we will be receiving, plus our investments, should grow—far outpacing the extra money received by waiting.

For some people, deferring until their full retirement age could make sense, especially if they do not have the assets to support themselves, are poor at handling money or if they are still working. However, this is not our situation and therefore we have decided to take the money and run.

It’s really a question of who you think can handle your money better—you or Uncle Sam? ■

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October 2014

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October 2014

Medicare Monday features 2015 prices and benefits

By Eileen Doherty, Colorado Gerontological Society

E

ach year the federal government makes changes to Medicare. Learn more about those changes on Medicare Monday, October 20, sponsored by the Colorado Gerontological Society.

Open enrollment to change Medicare Advantage Plans and prescription drug coverage starts on October 15 and ends December 7. Changes made during this time will be effective January 1, 2015.

Individuals who are new to Medicare should plan to attend a Medicare Monday session to learn more about coverage, benefits and 2015 changes. Other topics to be discussed include health promotion and prevention initiatives, durable medical equipment changes and changes in reimbursement to Medicare providers.

Medicare has yet to announce the Part A and B deductible. According to an August news release from the Centers for Medicare and Medicaid Services, Medicare Part B is expected to hold steady at $104.90 per month.

Part D monthly plan premiums are expected to increase an average of $1 per month.

Some of the Medicare Advantage Plans in Colorado have made changes to the provider networks. Some members are being assigned new physicians. Other members are experiencing problems finding physicians who are accepting new patients, are convenient and who meet their expectations for care.

During open enrollment, Medicare Advantage members who want to keep their current physician and who may no longer be part of a network can sign up with a new Medicare Advantage plan or consider purchasing

a Medicare Supplement.

Medicare has announced changes for the 2015 Prescription Drug benefit. The annual deductible will increase to $320 per year. Beneficiaries will pay 25 percent of the cost of prescriptions for the next $2,960 (approximately $740). Individuals who use more than $3,280 per year in drugs will reach the coverage gap (or the donut hole). Beneficiaries will pay 65 percent of the cost of generic prescriptions and 45 percent of the cost of name brand prescriptions. Individuals whose prescription drug costs exceed $7,061 in 2015 will pay $2.65 for generics and $6.60 for name brand drugs.

Some prescription drug companies in Colorado are making changes to the formularies. Thus beneficiaries should check their current plan to determine if the plan still meets their needs. Counselors are available to help with comparison shopping for prescription drug plans.

Seniors whose income is less than $993 per month ($1,331 per month for couples) from all sources and who have less than $8,660 in assets ($13,750 for couples), which excludes the home, car, term life insurance policy and irremovable burial policy, can sign up for help with paying the Medicare Part B premium. These same individuals are also eligible for assistance with paying prescription drug costs. For help in applying for benefits, call 1-855-293-6911.

Medicare Monday will be held from 9:30 a.m.-11:30 a.m. October 20 at The Commons of Hilltop, 625 27-1/2 Road in Grand Junction.

Refreshments will be served. If you would like to schedule an individual counseling appointment or to make a reservation for Medicare Monday, call 1-855-880-4777. ■

Individuals who are new to Medicare should plan to attend a Medicare Monday session to learn more about coverage, benefits and 2015 changes.

Confused By Your Medicare Options?

I represent many of the top plans in the Grand Valley, and I can do the following: • Provide you with the information you need, so you may determine which plan is right for you.

• Show you how to find the best drug plan for your current situation.

Stop by for a cup of coffee at The Artful Cup coffee shop, at: 3090 North 12th St., Grand Junction, 970-623-9665, Wednesdays between the hours of 9 am to 12 pm on the following dates: Oct 8, Oct 15, Oct 22, and Oct 29.

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October 2014

It’s time to review your Medicare coverage

By Ruth McCrea, Mesa County RSVP SHIP

A

t this time each year, Medicare beneficiaries are encouraged to take a look at their current drug and health coverages. Think of it as your annual benefits tune-up, when you can plug any holes you might have discovered this year. The choices you make during the annual enrollment period (AEP) between October 15 and December 7 become effective on January 1, 2015.

Mesa County RSVP, Inc. has trained Senior Health Insurance Assistance Project (SHIP) volunteers who offer free, unbiased information to help you make informed Medicare decisions.

SHIP will offer four walk-in open enrollment events at the RSVP office, 422 White Ave. (in the lower level of the US Bank Building). All events are from 9 a.m.-3 p.m.

The event dates are Monday, October 20; Thursday, November 6; Tuesday, November 18; and Friday, December 5.

Keep these dates handy and in plain sight.

Note: If you did not join a Medicare Part C Health Plan when you were first eligible, you can enroll for next year during this two-month period.

Just be aware that this is the only time you can make a change to what you have. If you’re satisfied with your current coverage, you don’t need to do anything. Keep it!

If you plan on tuning up your Medicare health benefits at one of the enrollment events, you will need to bring a list of your current prescriptions and all of your insurance cards.

Your pharmacist can print out an easy-to-read list for you, or you can bring the actual prescription bottles.

As if Medicare was not already confusing enough, the enrollment period for the new Health Exchange

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overlaps the Medicare Annual Open Enrollment Period. This year’s Health Exchange enrollment period is October 15, 2014 through February 15, 2015.

During these two overlapping enrollment periods, the potential for fraudulent activities is huge. Has someone tried to convince you to sign up for a Health Insurance Marketplace Plan? It is totally against the law if someone knows you have Medicare and they still try to sell you a Marketplace Plan. Since SHIP volunteers are also trained to recognize and report suspected Medicare fraud as part of the Senior Medicare Patrol (SMP), if you see or hear something suspicious call RSVP at 243-9839 and say, “I want to report Medicare fraud.”

Another SHIP program is the Money-Saving Medicare Project (MSMP). After checking income and assets to see if you qualify, SHIP navigators can help you apply for Social Security Extra Help to defray the cost of your prescription drugs. You may also be eligible for benefits under the Medicare Savings Program (MSP) through the Mesa County Department of Human Services to cover a portion of your Medicare Parts A and B premiums, deductibles and co-payments.

In addition to the normal telephone counseling and face-to-face appointments, the RSVP SHIP also presents monthly Medicare 101 educational sessions for new Medicare beneficiaries to help them navigate the muddy waters of Medicare. These are normally the first Wednesday of each month. Call to reserve a seat.

Wherever you are in Colorado, you can find a regional SHIP counseling office by calling the statewide toll free number (1-888-696-7213). The local Mesa County RSVP SHIP number is 243-9839. Call us. You’ll be glad you did! ■

It is against the law if someone knows you have Medicare and they still try to sell you a Marketplace Plan.

Medicare Moment

CHECK YOUR PRESCRIPTION DRUG PLAN! It’s that time again! Are you happy with your current Medicare Part D Drug Plan? Have you changed any of your prescriptions since last year? Take this opportunity to do a benefits checkup of your health and drug plans during the Medicare Annual Open Enrollment Period (Oct. 15 - Dec. 7). The plan you had may no longer be your best choice.

Let a trained SHIP Navigator help you find out which plan will fit for your budget and still cover your needs. Attend one of the RSVP SHIP free walk-in events on Oct. 20, Nov. 6, Nov. 18, or Dec. 5 to be all tuned-up for 2015!

Brought to you by the Mesa County RSVP Senior Health Insurance Assistance Project (SHIP) Sponsored by the Association of US West Retirees (AUSWR) and Mesa County RSVP

QUESTIONS? Call SHIP! 243-9839

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Medicare 101

By Lew Barr, Grand Valley Senior Benefits

M

edicare is a federal health insurance program that helps pay for hospital and medical care for people age 65 and older. Here are some basic things you should know about Medicare.

Who is eligible for Medicare?

• People age 65 or older • Certain people under age 65 with disabilities • People with end-stage renal disease (kidney disease)

REASON #35: SAVE ON MEDICARE SPEND ELSEWHERE. ROCKY MOUNTAIN HEALTH PLANS PUTS YOU IN CONTROL OF YOUR MEDICARE PLAN. At Rocky Mountain Health Plans you can choose a plan that fits your budget.

By offering affordable monthly payments and limits on what you pay out of pocket, you remain in control of what you save and what you spend. Plus, get some prescription drugs for as little as $3, as well as take advantage of member-only discounts on health and wellness services and products. Stay in control of your health care with Rocky Mountain Health Plans.

LEARN MORE MORE ABOUT ABOUT RMHP LEARN RMHP MEDICARE MEDICARE Call a licensed salesperson at: 888-251-1330 (TTY: 711) Visit www.rmhpMedicare.org/Affordable RMHP is a Medicare-approved Cost plan. Enrollment in RMHP depends on contract renewal.

This information is available for free in other languages. Please call Customer Service at 888-282-1420 (TTY dial 711). Hours are 8am - 8pm, 7 days/week, Oct. 1–Feb.14, and 8am - 8pm, M-F, Feb.15–Sept.30. Esta información está disponible gratuitamente en otros idiomas. Por favor llame a la línea de Atención a Clientes, al 888-282-1420(TTY marque 711). Horario de 8am - 8pm, 7 días a la semana, del 1 de octubre al 14 de febrero; y de 8am - 8pm, de lunes a viernes, del 15 de febrero al 30 de septiembre. ©2014 H0602_MS_MCAd312_S_09122014 Accepted

Medicare Part A is hospital insurance and helps cover: • Inpatient care in hospitals • Skilled nursing facility care • Hospice care • Home health care For most people there is no premium for Part A as long as you or your spouse paid Medicare taxes for 10 years.

Medicare Part B is medical insurance and helps pay for: • Services from doctors and providers • Outpatient care • Home health care • Durable medical equipment (wheelchairs, walkers, oxygen equipment, etc.)

• Some preventive services You can see any doctor you choose, as long as they are accepting new Medicare patients. Most people pay the standard premium amount, which is $104.90 per month for 2014.

It is important to know that while Medicare helps with the costs of health care, it does not cover all medical expenses or the cost of most long-term care. Medicare Supplement Plans (aka Medigap) sold by private companies, can help pay some of the health care costs that Original Medicare doesn’t cover.

Things to know about Medicare Part C (Medicare Advantage Plans): • It’s run by Medicare-approved private insurance companies.

• You must have both Medicare Part A and Part B to purchase an Advantage Plan.

• It must include all benefits and services

October 2014

covered under Part A and Part B. • It might include additional benefits or services.

All Medicare Advantage Plans are not created equal, as benefits, costs and availability vary by county and state. In order to control costs, Medicare Advantage plans are allowed to limit a patient’s choices of doctors and hospitals to those who are members of their networks. This can be a major disadvantage if a patient’s favorite doctor, specialist or hospital is not a member of their networks or in smaller population centers like Mesa County.

Things to know about Medicare Part D (prescription drug coverage): • It’s run by Medicare-approved private insurance companies.

• It helps cover the cost of prescription drugs.

• Deductibles vary by plan.

• Costs vary by plan.

• Drug lists (know as formularies) vary by plan.

Enrollment for people turning 65 Initial Enrollment Period (IEP) starts three months before you turn 65 and ends three months after you turn 65.

If you or your spouse plan to work past age 65 and you have insurance through that employer, contact your employer benefits coordinator regarding your Medicare benefits.

Late enrollment penalties Unless you have creditable coverage, you may have to pay a penalty if you do not enroll in Medicare when you first become eligible. This includes the Part D prescription drug plan.

Medicare and the Affordable Care Act (ObamaCare) It is against the law for someone who knows that you have Medicare to sell you a plan through the Marketplace. If you have coverage through the Marketplace and are almost 65, then cancel the Marketplace plan once your Medicare coverage starts.

Please know that coverage and cost change yearly, so make sure to review your coverage annually. ■

October 2014

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A Reverse Mortgage Loan is available regardless of income or credit

By Louise Forster

A

re you 62 years or older? I want to share an opportunity with you that will clear up unfortunate misunderstandings and show you how to experience a retirement full of opportunities without struggles!

With a Reverse Mortgage, monthly payments are deferred and the loan balance increases over time. Neither borrower(s) nor their heirs are liable for the debt – and no monthly payments! If you decide to move in 10 years, you may sell your home and receive 100% of proceeds after paying loan balance.

Sell your present home and use a “Reverse Mortgage For Purchase” to buy a new home, (no credit or income check) which enables senior homeowners to purchase a new home to be closer to family, downsize to a home that better meets their physical needs, or to relocate to other geographic areas where there is less

outside maintenance.

• No monthly payments • One to four unit residence • Must occupy property Louise Forster, with 35 plus years’ experience will assist and advise senior citizens with all aspects of real estate, however, she believes Reverse Mortgages are definitely something ALL seniors should look at and consider! “It’s a wonderful option for seniors who would like to stay in their homes.” “Also, a Reverse for Purchase is another great option that should be given serious consideration. Use the Net Available Proceeds from your Reverse Mortgage to purchase another home that better suits your needs!”

From this time hence forth, working with senior citizens is my specialty – because I am one of you!!

Free seminar coming in November! ■

Retirement Roundtable answers questions, prepares you for retirement

R

etirement is an exciting time, but it can also be stressful and overwhelming. If you are considering retirement or have recently retired, you probably have questions about finances, living arrangements, aging in place and legal issues.

Four local professionals who specialize in retirement-related services are hosting a Retirement Roundtable from 4:30 p.m.-5:30 p.m. October 15 at The Law Office of Brown & Brown, PC, 1250 E. Sherwood Drive in Grand Junction. The Roundtable offers a one-of-a-kind opportunity to learn about financial planning, estate planning, long-term care planning, real estate and senior living options, as well as participate in a question and answer session in a small group environment. Roundtable discussions will include • Handling your expenses and savings, your investments, Social Secu-

rity and long-term care insurance options. (By Kim Last, Kimberley A. Last Financial Services.)

• Basic estate planning components and documents, and options for asset protection. (By Clara Brown Shaffer, estate-planning attorney.)

• The needs of homebuyers and sellers age 50 and over, downsizing and preparing for assisted living. (By Vicki Chandler, Senior Real Estate Specialist and broker with Vicki Chandler Real Estate.)

• Information and support for aging at home, dementia and Alzheimer’s care; independent and assisted living options; community referrals and more. (By Raquel Gustafson with Hilltop’s Senior Life Options.)

The Retirement Roundtable is free and open to the public. Registration is required and seating is limited. Call 243-8250 to reserve your spot today.

■

Are you 62 years or older?

I want to share an opportunity with you!

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Four Retirement Experts

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Great Place to Learn about Options!

A Top Team of Local Retirement Professionals is offering a

Retirement Roundtable on Wednesday, October 15 from 4:30 to 5:30 p.m.

Vicki Chandler

Senior Real Estate Specialist - Broker of Vicki Chandler Real Estate

Clara Brown Shaffer Estate Planning Attorney Partner at the Law Office of Brown & Brown, P.C.

This free workshop will offer useful information on:  Financial Planning  Estate Planning  Real Estate Planning  Senior Living Planning Get your questions answered!

Registration is Required.

Sign up Today!

Kimberley Last

Certified Financial Planner President of Kimberley A. Last Financial Services Inc.

Raquel Gustafson Outreach Coordinator at Hilltop’s Senior Life Options

Call (970) 243-8250.

The Roundtable is being held at 1250 E. Sherwood Dr.

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October 2014

Retire in style at the BeeHive Home

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hatever our residents want, we’ll make happen at BeeHive Assisted Living Home, located at 2395 H Road in Grand Junction.

“Our residents receive loving and attentive care and our staff treats every resident like they were their own family,” owner Wendell Gates said.

Wendell and Deena Gates were introAt Beehive, all meals are home cooked and dietician approved. duced to BeeHive Homes while living in Albuquerque, plenty of room for fun activities.

New Mexico. The couple had always All meals are home cooked and found happiness when working with dietician approved. Family and the elderly so it was the perfect fit. friends are encouraged to spend time “You learn their stories and you with their loved ones at the BeeHive start to build a strong relationship Home. There is no charge for family with them,” Deena said. “That is to join meals. We only need a little when they become part of your notice so we can prepare extra. family.”

We go out of our way to make sure The BeeHive is a beautiful new you feel like BeeHive Homes is truly home with 15 private bedrooms, your home away from home. Come located on the corner of 24 and H by for a tour and see what the buzz Roads. Each room has its own heatis about. We are a private pay facility ing and air-conditioning unit and an but you’ll find that we are the best ADA-designed shower. The building value in town. Call us at 549-6555 has a hair salon, a family-style dining room and a cozy living room with and ask about our specials. ■

administration fee.

Call Wendell Gates 970 549-6554

2395 H Rd  Grand Junction  www.beehivehomes.com

Beehive Assisted Living has a cozy living room with plenty of room for fun activities.

October 2014

How to retire comfortably and safely in your own home

By Shelley Clennin, Paragon Restoration & Building, Inc.

I

t’s important for us to educate our aging community on the benefits of being proactive when it comes to aging in place. Hospital stays, surgery, rehabilitation, physical therapy or an extensive nursing home stay are all real scenarios resulting from falls. Therefore, preparation and forethought are powerful tools to make sure you can retire safely and comfortably in your home.

Consider taking the initiative to protect yourself as you age in your home by calling Paragon Restoration & Building. We can send a certified environmental accessibility specialist to perform a home safety assessment at your home, including an estimate and clear write-up of safety concerns and solutions.

What does a home assessment involve?

1) We listen to your needs, fears and visions. We ask questions and truly get to know you and your family.

2) We obtain clarification of your medical diagnosis or disability. It is imperative that we have a clear understanding of your medical condition and whether or not it is considered a progressive disease, meaning that it has the potential to worsen over time. This knowledge allows us to modify your home to accommodate different stages of mobility decline. We know that illness is not easily predictable; however, we try to provide a one-time investment option for your home modification that will change with you.

RETIREMENT PLANNING 11

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3) We take measurements of any medical equipment you have to ensure there is enough clearance through doorways. We observe how clients go up and down stairs and examine kitchen and bathroom accessibility, vanity heights, door knobs, closet spaces, trip hazards, lighting needs and any other concerns. We also look at the way a client transfers from equipment to places inside the home, such as the toilet, bed and couch.

4) We rate your limitations, measuring the level of difficulty for smaller tasks around the home, such as turning on a light switch, pushing a button, opening a drawer or walking across a room. It is important for us to determine the amount of strength you have so we can determine the best progressive design, fitting immediate needs as well as long-term needs.

5) We examine entries and exits leading to outside of the home. Pathways to the garage or sidewalk are assessed, and sun exposure or snow buildup potential is evaluated.

6) Depending on your level of need, we consider your budget and help you create a care plan. If possible, we can help put you in contact with organizations that may be able to help fund your home modifications.

Retirement is the time to enjoy your home. Give yourself peace of mind during your retirement years by calling Paragon Restoration & Building at 241-2180.

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Universal Design  Bathing Stations  Barrier Free Showers  Grab Bars & Installation  Ramps (Constructed or Pre-Built)  Interior / Exterior Platform Lifts  Electric Door Openers  Portable Threshold Ramps  Custom Bathroom & Kitchen Design  Ceiling Mounted Patient Transfer Systems 

welcoming

Ear | Nose | Throat | Head & Neck Surgery Allergy | Audiology & Hearing Aids Cosmetic & Reconstructive Plastic Surgery

Joining CWO in 2014, Jo-an Mealler is a native of Grand Junction, Colorado. She holds a Bachelor’s and a Master’s degree in Audiology from Colorado State University and extensive post graduate work from the University of Iowa. Jo-an is a Fellow of the American Academy of Audiology and board certified by the American Speech-Language Hearing Association. She is state and nationally certified to practice audiology and dispense hearing aids.

Jo-an Mealler, M.S., CCC-A, F-AAA

Jo-an has been a practicing Audiologist for over 3 decades, 25 years in Grand Junction (with 18 of those years as owner of her own practice).

Before joining the team at CWO she worked as a school district audiologist in Iowa and with special needs populations at the Grand Junction Regional Center. Jo-an has expertise in infant, children and adult diagnostic testing, providing in depth evaluation and management of disorders of hearing and tinnitus. She specializes in hearing rehabilitation including fitting advanced digital hearing technology and assistive listening devices. Jo-an also has an extensive background in Hearing Conservation and counseling patients regarding noise exposure and use of hearing protection devices.

Call today to schedule a meeting with one of our providers and take advantage of

$500 off of any

advanced or premium technologies

970.255.3548 | www.cwoto.com 2643 Patterson Rd., Suite 503, Grand Junction, CO 81506 233 Cottonwood St., Delta, CO 81164 | 501 Airport Rd., Rifle, CO 81650