okay I want you to help me out I want you to close your eyes now I want you to
you to close your eyes now I want you to
you to close your eyes now I want you to think about what it’s like to age in
think about what it’s like to age in
think about what it’s like to age in America today
America today
America today do you have images in your mind come on
do you have images in your mind come on
do you have images in your mind come on now okay do you picture this how about
now okay do you picture this how about
now okay do you picture this how about this come on be honest who pictured this
this come on be honest who pictured this
this come on be honest who pictured this okay we admit it that’s not really fair
okay we admit it that’s not really fair
okay we admit it that’s not really fair given the title of our talk today to be
given the title of our talk today to be
given the title of our talk today to be honest we chose our title
honest we chose our title
honest we chose our title no more grandma’s eating cat food to
no more grandma’s eating cat food to
no more grandma’s eating cat food to grab your attention and to make a point
grab your attention and to make a point
grab your attention and to make a point lots of us have either/or views of Aging
lots of us have either/or views of Aging
lots of us have either/or views of Aging either you’re rich and healthy and
either you’re rich and healthy and
either you’re rich and healthy and living your dreams like our surfer dude
living your dreams like our surfer dude
living your dreams like our surfer dude or you’re sick and poor and living on
or you’re sick and poor and living on
or you’re sick and poor and living on cat food well we’re here to tell you
cat food well we’re here to tell you
cat food well we’re here to tell you that those are not your only choices in
that those are not your only choices in
that those are not your only choices in fact no matter what your circumstances
fact no matter what your circumstances
fact no matter what your circumstances are right here right now there are steps
are right here right now there are steps
are right here right now there are steps you can take to be economically secure
you can take to be economically secure
you can take to be economically secure as you age absolutely
as you age absolutely
as you age absolutely but let’s face it life after 65 has
but let’s face it life after 65 has
but let’s face it life after 65 has changed dramatically gone are mandatory
changed dramatically gone are mandatory
changed dramatically gone are mandatory retirements pensions and bingo games in
retirements pensions and bingo games in
retirements pensions and bingo games in church basements we’re working long past
church basements we’re working long past
church basements we’re working long past 65 both by choice and by necessity and
65 both by choice and by necessity and
65 both by choice and by necessity and we’re living longer too you know it’s
we’re living longer too you know it’s
we’re living longer too you know it’s interesting to think about a and man
interesting to think about a and man
interesting to think about a and man today who’s 65 he’ll most likely live
today who’s 65 he’ll most likely live
today who’s 65 he’ll most likely live until he’s 84 and four women will live
until he’s 84 and four women will live
until he’s 84 and four women will live till 86 and if you’re a couple age 65
till 86 and if you’re a couple age 65
till 86 and if you’re a couple age 65 you actually have a 50% chance of living
you actually have a 50% chance of living
you actually have a 50% chance of living to 92 unlike any generation before us we
to 92 unlike any generation before us we
to 92 unlike any generation before us we now have an extra 60 plus years of life
now have an extra 60 plus years of life
now have an extra 60 plus years of life whoops
whoops
whoops 20 plus years of life to plan for how
20 plus years of life to plan for how
20 plus years of life to plan for how will we do it with our society chipping
will we do it with our society chipping
will we do it with our society chipping away at economic constants like pensions
away at economic constants like pensions
away at economic constants like pensions social security and
social security and
social security and Medicare it can seem like planning for
Medicare it can seem like planning for
Medicare it can seem like planning for our future requires a crystal ball but
our future requires a crystal ball but
our future requires a crystal ball but it actually only takes a few things
it actually only takes a few things
it actually only takes a few things number one thinking ahead about
number one thinking ahead about
number one thinking ahead about retirement plan now for the future
retirement plan now for the future
retirement plan now for the future number two understanding what help is
number two understanding what help is
number two understanding what help is available
available
available and number three knowing where to go
and number three knowing where to go
and number three knowing where to go when things don’t really turn out like
when things don’t really turn out like
when things don’t really turn out like you planned well I don’t have a crystal
you planned well I don’t have a crystal
you planned well I don’t have a crystal ball but I had an amazing grandmother B
ball but I had an amazing grandmother B
ball but I had an amazing grandmother B synthesis she beautiful I was her
synthesis she beautiful I was her
synthesis she beautiful I was her favorite but she was incredible didn’t
favorite but she was incredible didn’t
favorite but she was incredible didn’t have a great education but she knew that
have a great education but she knew that
have a great education but she knew that we had to invest in our future it was
we had to invest in our future it was
we had to invest in our future it was about us she made everybody feel
about us she made everybody feel
about us she made everybody feel empowered especially the girls and she’s
empowered especially the girls and she’s
empowered especially the girls and she’s like today you go to school because
like today you go to school because
like today you go to school because tomorrow
tomorrow
tomorrow it’s about your investment in your life
it’s about your investment in your life
it’s about your investment in your life she used to trail me all the time say
she used to trail me all the time say
she used to trail me all the time say Anna Madea keep going and boys wait till
Anna Madea keep going and boys wait till
Anna Madea keep going and boys wait till you’re 30 because to her again it was
you’re 30 because to her again it was
you’re 30 because to her again it was all about the numbers I’ve got a few
all about the numbers I’ve got a few
all about the numbers I’ve got a few numbers for you
numbers for you
numbers for you the first one there’s an estimate that
the first one there’s an estimate that
the first one there’s an estimate that says that it costs fourteen thousand
says that it costs fourteen thousand
says that it costs fourteen thousand dollars a year to raise a child well I
dollars a year to raise a child well I
dollars a year to raise a child well I have a son his name is Michael
have a son his name is Michael
have a son his name is Michael Christopher and I can tell you that
Christopher and I can tell you that
Christopher and I can tell you that number is actually pretty accurate I
number is actually pretty accurate I
number is actually pretty accurate I think it’s actually a little low but how
think it’s actually a little low but how
think it’s actually a little low but how many of you know how much it cost each
many of you know how much it cost each
many of you know how much it cost each year to age anybody well our partners at
year to age anybody well our partners at
year to age anybody well our partners at the University of Massachusetts Boston
the University of Massachusetts Boston
the University of Massachusetts Boston actually do have an estimate a number
actually do have an estimate a number
actually do have an estimate a number for us and this is what they say if you
for us and this is what they say if you
for us and this is what they say if you are 65 and renting your home you will
are 65 and renting your home you will
are 65 and renting your home you will need $23,000 a year just to cover your
need $23,000 a year just to cover your
need $23,000 a year just to cover your basic necessities we’re talking housing
basic necessities we’re talking housing
basic necessities we’re talking housing heat and food not surfboards let’s do
heat and food not surfboards let’s do
heat and food not surfboards let’s do the math you need twenty three thousand
the math you need twenty three thousand
the math you need twenty three thousand dollars a year for the bare essentials
dollars a year for the bare essentials
dollars a year for the bare essentials today the average Social Security
today the average Social Security
today the average Social Security benefit is sixteen thousand dollars a
benefit is sixteen thousand dollars a
benefit is sixteen thousand dollars a year which leaves a gap of seven
year which leaves a gap of seven
year which leaves a gap of seven thousand dollars so you turn to personal
thousand dollars so you turn to personal
thousand dollars so you turn to personal savings and here’s a statistic that may
savings and here’s a statistic that may
savings and here’s a statistic that may shock you among people
shock you among people
shock you among people hiring today the median savings is
hiring today the median savings is
hiring today the median savings is $40,000 $40,000 total so if you’re
$40,000 $40,000 total so if you’re
$40,000 $40,000 total so if you’re looking to make up that $7,000 gap with
looking to make up that $7,000 gap with
looking to make up that $7,000 gap with your savings $40,000 will get you not
your savings $40,000 will get you not
your savings $40,000 will get you not quite six years just for the basics and
quite six years just for the basics and
quite six years just for the basics and remember people are living 20 or more
remember people are living 20 or more
remember people are living 20 or more years past retirement these days and
years past retirement these days and
years past retirement these days and unfortunately women actually start
unfortunately women actually start
unfortunately women actually start further behind they enter retirement
further behind they enter retirement
further behind they enter retirement with the huge hurdle that’s followed
with the huge hurdle that’s followed
with the huge hurdle that’s followed them throughout their lives it’s called
them throughout their lives it’s called
them throughout their lives it’s called the pay gap duh right ladies okay now
the pay gap duh right ladies okay now
the pay gap duh right ladies okay now it’s called the pay gap and it really
it’s called the pay gap and it really
it’s called the pay gap and it really causes issues for us because again we’re
causes issues for us because again we’re
causes issues for us because again we’re entering retirement with less money
entering retirement with less money
entering retirement with less money saved and less money earned and for
saved and less money earned and for
saved and less money earned and for women of color
women of color
women of color there’s even a deeper disparity overall
there’s even a deeper disparity overall
there’s even a deeper disparity overall women earn nearly $4,000 a year or less
women earn nearly $4,000 a year or less
women earn nearly $4,000 a year or less in Social Security benefits than men but
in Social Security benefits than men but
in Social Security benefits than men but again there’s an answer and for us you
again there’s an answer and for us you
again there’s an answer and for us you know we continue to work toward this
know we continue to work toward this
know we continue to work toward this issue because it’s important that
issue because it’s important that
issue because it’s important that everybody’s engaged and everybody knows
everybody’s engaged and everybody knows
everybody’s engaged and everybody knows what’s possible I have another number
what’s possible I have another number
what’s possible I have another number for you our friends at the it’s Employee
for you our friends at the it’s Employee
for you our friends at the it’s Employee Benefit Research Institute stated that
Benefit Research Institute stated that
Benefit Research Institute stated that it actually cost women today to retire a
it actually cost women today to retire a
it actually cost women today to retire a hundred and forty three thousand dollars
hundred and forty three thousand dollars
hundred and forty three thousand dollars just to cover her medical benefits and
just to cover her medical benefits and
just to cover her medical benefits and cost and issues during retirement and
cost and issues during retirement and
cost and issues during retirement and that’s with Medicare so what can you do
that’s with Medicare so what can you do
that’s with Medicare so what can you do to think ahead even if you haven’t paid
to think ahead even if you haven’t paid
to think ahead even if you haven’t paid but saved a single penny so far first
but saved a single penny so far first
but saved a single penny so far first start putting in time and effort on a
start putting in time and effort on a
start putting in time and effort on a regular basis develop revisit and refine
regular basis develop revisit and refine
regular basis develop revisit and refine a financial plan you can do it alone
a financial plan you can do it alone
a financial plan you can do it alone with a partner or with a friend even
with a partner or with a friend even
with a partner or with a friend even better do it with an expert
better do it with an expert
better do it with an expert Keeney to your plan is a budget so
Keeney to your plan is a budget so
Keeney to your plan is a budget so that’s really boring I’m sorry it’s a
that’s really boring I’m sorry it’s a
that’s really boring I’m sorry it’s a little boring yep it’s boring nothing
little boring yep it’s boring nothing
little boring yep it’s boring nothing fancy about it but you’ve got to know
fancy about it but you’ve got to know
fancy about it but you’ve got to know what’s coming in and going out now as
what’s coming in and going out now as
what’s coming in and going out now as well as what your budget will look like
well as what your budget will look like
well as what your budget will look like in the future it’s also essential to
in the future it’s also essential to
in the future it’s also essential to reduce debt limit your use of credit and
reduce debt limit your use of credit and
reduce debt limit your use of credit and don’t forget to pay yourself first by
don’t forget to pay yourself first by
don’t forget to pay yourself first by putting money into savings with
putting money into savings with
putting money into savings with budgeting comes the requirement of
budgeting comes the requirement of
budgeting comes the requirement of discipline
discipline
discipline boring boring discipline yes
boring boring discipline yes
boring boring discipline yes Hana it’s boring especially in our
Hana it’s boring especially in our
Hana it’s boring especially in our instant gratification society but
instant gratification society but
instant gratification society but without discipline your plan will fall
without discipline your plan will fall
without discipline your plan will fall apart and so will your dreams of a
apart and so will your dreams of a
apart and so will your dreams of a fulfilling retirement there are great
fulfilling retirement there are great
fulfilling retirement there are great tools online that can help you the
tools online that can help you the
tools online that can help you the Social Security Administration website
Social Security Administration website
Social Security Administration website for example will calculate your benefit
for example will calculate your benefit
for example will calculate your benefit depending on when you start to collect
depending on when you start to collect
depending on when you start to collect and ballpark estimate helps you figure
and ballpark estimate helps you figure
and ballpark estimate helps you figure out how much to save for a comfortable
out how much to save for a comfortable
out how much to save for a comfortable later life well that brings us actually
later life well that brings us actually
later life well that brings us actually to the second point we wanted to make
to the second point we wanted to make
to the second point we wanted to make and that’s knowing where to go for help
and that’s knowing where to go for help
and that’s knowing where to go for help if you need it my friend mr. MacNeil is
if you need it my friend mr. MacNeil is
if you need it my friend mr. MacNeil is a good example of that he enjoyed life
a good example of that he enjoyed life
a good example of that he enjoyed life long independence as a makeup artist and
long independence as a makeup artist and
long independence as a makeup artist and stylist of the stars of the Harlem
stylist of the stars of the Harlem
stylist of the stars of the Harlem Renaissance but at age 80 his luck
Renaissance but at age 80 his luck
Renaissance but at age 80 his luck turned when his funds dried up he was
turned when his funds dried up he was
turned when his funds dried up he was forced to move from his New York home in
forced to move from his New York home in
forced to move from his New York home in with his son in Delaware this is not
with his son in Delaware this is not
with his son in Delaware this is not what he wanted the good news is that mr.
what he wanted the good news is that mr.
what he wanted the good news is that mr. McNeill turned to his local Senior
McNeill turned to his local Senior
McNeill turned to his local Senior Center for help now if you think that
Center for help now if you think that
Center for help now if you think that senior centers are just places where old
senior centers are just places where old
senior centers are just places where old people sit around and play bingo
people sit around and play bingo
people sit around and play bingo think again senior centers are fantastic
think again senior centers are fantastic
think again senior centers are fantastic places to socialize learn new things
places to socialize learn new things
places to socialize learn new things stay fit and engaged and get help when
stay fit and engaged and get help when
stay fit and engaged and get help when you need it at the Wilmington Senior
you need it at the Wilmington Senior
you need it at the Wilmington Senior Center mr. McNeil met with a financial
Center mr. McNeil met with a financial
Center mr. McNeil met with a financial coach from Delaware standby
coach from Delaware standby
coach from Delaware standby any program together they discovered he
any program together they discovered he
any program together they discovered he was eligible for an additional Social
was eligible for an additional Social
was eligible for an additional Social Security benefit that added a thousand
Security benefit that added a thousand
Security benefit that added a thousand dollars a month to his income they also
dollars a month to his income they also
dollars a month to his income they also used the benefits checkup from the
used the benefits checkup from the
used the benefits checkup from the National Council on Aging and found
National Council on Aging and found
National Council on Aging and found extra food for healthy meals at home
extra food for healthy meals at home
extra food for healthy meals at home today mr. McNeil is independent once
today mr. McNeil is independent once
today mr. McNeil is independent once more he lives in his own apartment comes
more he lives in his own apartment comes
more he lives in his own apartment comes and goes as he pleases and is most happy
and goes as he pleases and is most happy
and goes as he pleases and is most happy hanging out with his lady friends at the
hanging out with his lady friends at the
hanging out with his lady friends at the Senior Center I can see why are you so
Senior Center I can see why are you so
Senior Center I can see why are you so happy so you have great stories can you
happy so you have great stories can you
happy so you have great stories can you tell us a story around our third point
tell us a story around our third point
tell us a story around our third point and that’s where to go when things don’t
and that’s where to go when things don’t
and that’s where to go when things don’t go it’s quite as planned I can and this
go it’s quite as planned I can and this
go it’s quite as planned I can and this story is about one of the people I
story is about one of the people I
story is about one of the people I treasure most in my life
treasure most in my life
treasure most in my life my ninety eight year old mother-in-law
my ninety eight year old mother-in-law
my ninety eight year old mother-in-law was a homemaker who raised five children
was a homemaker who raised five children
was a homemaker who raised five children I’m married to bill number five Clara
I’m married to bill number five Clara
I’m married to bill number five Clara was loved and well taken care of by her
was loved and well taken care of by her
was loved and well taken care of by her optometrist husband who died nearly
optometrist husband who died nearly
optometrist husband who died nearly thirty years ago he left life insurance
thirty years ago he left life insurance
thirty years ago he left life insurance an annuity Social Security no mortgage
an annuity Social Security no mortgage
an annuity Social Security no mortgage plus he had taken out a long-term care
plus he had taken out a long-term care
plus he had taken out a long-term care policy for her few years back Clara
policy for her few years back Clara
policy for her few years back Clara moved into an assisted living residence
moved into an assisted living residence
moved into an assisted living residence where she quickly found friends they eat
where she quickly found friends they eat
where she quickly found friends they eat together each day talk politics and
together each day talk politics and
together each day talk politics and reminisce but four years into her new
reminisce but four years into her new
reminisce but four years into her new home and Clara is running out of money
home and Clara is running out of money
home and Clara is running out of money now what fortunately for her there’s
now what fortunately for her there’s
now what fortunately for her there’s Medicaid Clara never envisioned using it
Medicaid Clara never envisioned using it
Medicaid Clara never envisioned using it and she’s probably not someone that you
and she’s probably not someone that you
and she’s probably not someone that you can imagine meeting it but for Clara and
can imagine meeting it but for Clara and
can imagine meeting it but for Clara and millions of other older adults across
millions of other older adults across
millions of other older adults across our country Medicaid is a life saver
our country Medicaid is a life saver
our country Medicaid is a life saver with it they are able to stay safe
with it they are able to stay safe
with it they are able to stay safe secure and happy in the place they call
secure and happy in the place they call
secure and happy in the place they call home so here’s our idea worth spreading
home so here’s our idea worth spreading
home so here’s our idea worth spreading aging shouldn’t be something
aging shouldn’t be something
aging shouldn’t be something just happens to you like career
just happens to you like career
just happens to you like career decisions education decisions
decisions education decisions
decisions education decisions relationship decisions you have to make
relationship decisions you have to make
relationship decisions you have to make thoughtful deliberate choices about
thoughtful deliberate choices about
thoughtful deliberate choices about aging you have to think ahead you have
aging you have to think ahead you have
aging you have to think ahead you have to know where to go for help and what
to know where to go for help and what
to know where to go for help and what help is available you know at the
help is available you know at the
help is available you know at the National Council on Aging we talked a
National Council on Aging we talked a
National Council on Aging we talked a lot about mastering aging to us that
lot about mastering aging to us that
lot about mastering aging to us that means aging with the best health
means aging with the best health
means aging with the best health economic security and independence
economic security and independence
economic security and independence possible for your situation
possible for your situation
possible for your situation and it’s also about thinking about the
and it’s also about thinking about the
and it’s also about thinking about the third stage of your life because in this
third stage of your life because in this
third stage of your life because in this society we teach kids how to become
society we teach kids how to become
society we teach kids how to become adults but we don’t teach older people
adults but we don’t teach older people
adults but we don’t teach older people how to grow well older and safe so again
how to grow well older and safe so again
how to grow well older and safe so again we would love to engage you all in
we would love to engage you all in
we would love to engage you all in ensuring that you are embracing this
ensuring that you are embracing this
ensuring that you are embracing this stage of life it’s about you it’s about
stage of life it’s about you it’s about
stage of life it’s about you it’s about understanding what’s possible and like a
understanding what’s possible and like a
understanding what’s possible and like a good Girl Scout or Boy Scout you can be
good Girl Scout or Boy Scout you can be
good Girl Scout or Boy Scout you can be prepared because being prepared means we
prepared because being prepared means we
prepared because being prepared means we can live the life we want to the very
can live the life we want to the very
can live the life we want to the very end without ever buying cat food unless
end without ever buying cat food unless
end without ever buying cat food unless that is we have a cat
”
Be First to Comment