Double whammy if you're 70 and a half

President Bush has signed legislation that will temporarily suspend the penalty for seniors who fail to take the required minimum distribution from IRA and employer retirement accounts in 2009, but you’ll still need to do the required distribution for 2008--and that’s based on your fund balance at the end of 2007. Not good, folks, not good. Imagine this (and I know you can with little trouble). Congress just had to rush through that horrendous September bailout which was supposed to create more credit from banks so they could help business. At least, that’s the way we were told it would work. But so far, all that’s happened is a run on the government for more bailouts, from the auto industry to universities to home builders. And the lending institutions have continued to give their year end bonuses and perks. But those mental midgets we elected just couldn’t figure out a way to rush through a plan to change the wording in the 2008 requirement--the year a lot of us lost 40-50% of the value of our accounts. How tough would it have been to change 70.5 to 71.5 or 72.5? I'm not sure this is the best source, but I'm going with it now because it doesn't require registration. Full text of HR 7327 here, but use your "find" command (control F) with the word "retirement" to get to the correct section.

Wants not needs

Christmas is a tough time for us retirees. The kids, spouse, sister/brother, buddy asks, What do you want for Christmas, and you can't think of a thing. I've been married 48 years, I'm 69, and if there's anything I need or want it's usually pretty small (Clariton, new pair of hose, mittens) I just buy it. But just let me walk through Macy's at the before 1 p.m. sale on a Friday, and all of a sudden, I'm standing at the "Take another 50% off" sale rack. It's not that I believe the "originally was" tag--clothes are never that. But when it's new and costs less than I could get it at a resale shop (my favorite is Discovery cancer shop here in Columbus), I do stop and push around the merchandise. Yesterday I bought this little jacket--full of bright colors and patterns--with western detailing and metal buttons. Not me, but $9, from the "original" $58, and I'm as big a sucker as the next mama.

Media hype wrong again

Cross posted at Collecting my Thoughts

So much for all the gloom, doom and disaster the media were promoting. Who are their sources? The people went out on Black Friday and increased spending by 3% over last year. And for once I'm glad. The jobs they saved may be their neighbors or their own. Now we'll get all the qualifying stories from the journalists and consultants who got it wrong. The "yes, but," excuses.

Anyone in retirement years can see we're heading for a bad time, just open your latest statement. It's not like 2004 when the Kerry/Edwards campaign continually bad mouthed the economy for over a year, Bush, new jobs, etc. and the media chimed right in. It's not 2006 when the Democrats took over Congress by campaigning on the bad economy (that wasn't) and then rode it into the ditch by making no corrections the president wanted. The week after the 2004 election it was all good economic news again. Because we don't have time for it turn around like it did in the late 80s, and the late 90s and after 9/11, it's going to be a challenge for retirees--especially if they don't fix that 70.5 age for drawing down IRAs based on Dec. 31, 2007 balances. People my age didn't grow up expecting everything, so we are probably better off than the younger boomers who thought life would always be a bigger house, or a new leased car every other year, or a vacation in Aruba.

Does Retirement Kill You? No.

Didn't think so. All the retirees I know are too busy to die. Now, retirement accounts. That's another matter.

Abstract:
The magnitude of the effect that health has on the retirement decision has long been studied. We examine the reverse relationship, whether or not retirement has a direct impact on later-life health. In order to identify the causal relationship, we use unexpected early retirement window offers to instrument for retirement behavior. They are legally required to be unrelated to the baseline health of the individual, and are significant predictors of retirement. We find that there is no negative effect of early retirement on men's health, and if anything, a temporary increase in self-reported health and improvements in health of highly educated workers. While this is consistent with previous literature using Social Security ages as instruments, we also find some evidence that anticipation of retirement might also be important, and might bias the previous estimates towards zero.

"Does Retirement Kill You? Evidence from Early Retirement Windows"
by Norma B. Coe, Maarten Lindeboom
(November 2008) IZA DP No. 3817

Cross posted at Collecting My Thoughts

Think Again Grants

I saw an article in the Columbus Dispatch that Columbus State has $3 million in grants for older, new students but can't find them. Columbus State, which was just a tiny, little thing when we moved here now has 24,000 students. The $1,000 grant is for tuition, for a new (or almost new) student taking at least 6 hours, spread over 3 quarters. Maybe now is the time for you to think about taking that college credit class?

What's wrong with this picture?

Reading through this LA Times article, you see that the current down turn is not the problem. These retirees had too much debt and were taking too much risk. All bubbles burst. There were recessions in 1973-75, 1981-82, 1990-91, and I personally know what was happening to my investments in 1999, and we know what happened after 9/11. So why does any retiree think the next 20 or 30 years will be different than the past?

“Three refinancings have left Dale Campbell and his wife owing $485,000 -- more than their Whittier home is worth. The interest rate on their mortgage is due to reset in November, and the payments will more than double to $3,800 a month. The 77-year-old retired truck driver figures it's just a matter of time before the bank sends the couple packing.

"We don't want to leave here, but we can't afford the payments," said Campbell, who spent the proceeds from the refinancings on home improvements.

The Campbells aren't alone. Homeowners ages 50 and over account for an estimated 28% of all delinquencies and foreclosures in the current crisis, according to a report released last week by AARP, the nation's leading senior citizens lobby. That translates into 684,000 older people who have lost their homes or are in danger of losing them. Many experts believe there are a lot more on the way.

The bad news doesn't end there. A separate AARP study found that, over the last decade and half, Americans 55 and older have experienced the sharpest increase in bankruptcy filings than any other age group, accounting for nearly a quarter of all filers last year.

Los Angeles bankruptcy attorney Scott Bovitz has noticed the graying of his clientele.

"In prior years, it was rare for me to hear from a grandma," he said. "Now we're talking to people 55 and older every day." "
The golden years have lost their glow

Testosterone therapy for men

Testosterone therapy: Can it help older men feel young again? According to MayoClinic.com (one of the Mayo Clinic's three main Web sites which provide health information and tools) the jury is still out on testosterone therapy for older men.

What are the risks of testosterone therapy?

Not enough study has been done to determine the risks of testosterone therapy in men with normal testosterone levels. In theory, a higher than normal testosterone level could increase a man's risk of prostate cancer or an enlarged prostate (benign prostatic hyperplasia). But studies haven't determined whether testosterone therapy could cause these complications.

Studies show testosterone therapy can cause sleep apnea in some men. This condition causes you to continually start and stop breathing as you sleep. Testosterone therapy may also cause your body to make too many red blood cells (polycythemia), which can increase your risk of heart disease.

Consider the list of pros and cons when evaluating testosterone therapy that are included in the article.

Arthritis and exercise

It may seem counterintuitive, but a recent study confirms that people with osteoarthritis can improve mobility and enhance their quality of life with modest levels of exercise. Take a look at the summary at the Johns Hopkins Health Alert Good News about Exercise and Arthritis

No senior discount here

There are some retirement places, like this one in Plano, Texas, where folks aren't worried about senior discounts or flat stock accounts.

Song of the Other Sister

Glucosamine chondroitin
maybe some ibuprofen
Viactiv with calcium
fish oil and Senior Centrum.

Ohioans need some D,
build those bones for all to see;
Stretch and bend, wear socks and shoes,
Take a walk after the news.

Breathe deeply, now in and out,
wave to your friends give a shout,
life is good we can't complain,
but we'd settle for less pain.

Summer poem

Bikes and grass and summer things
Tea with ice, a thought that clings--
Yellow roses, gray blue eyes,
Summer romance--a young girl's sighs.
Hot rod cars, loud and steamy,
Didn't we think they were so dreamy?
Now we smile and say good-bye,
while watching rain clouds in the sky.

Glucosamine chondroitin

On my last check up I mentioned to my doctor that I've developed some hip pain, that goes away within a few minutes after moving around. "Arthritis," he said, and suggested I try Glucosamine chondroitin.

"Osteoarthritis is the most common form of arthritis in the United States and has a major effect on the health-related quality of life. In 2004, the estimated direct and indirect medical costs associated with all forms of arthritis exceeded $86 billion. Glucosamine and chondroitin sulfate are the most widely used dietary supplements for osteoarthritis, with estimated sales in 2004 approaching $730 million."

This study looked at its use, but decided stricter standards were needed before a final decision could be made.

Time to Talk campaign

The National Center for Complementary and Alternative Medicine (NCCAM), part of the National Institutes of Health (NIH), has launched Time to Talk, an educational campaign to encourage patients—particularly those age 50 or older—and their health care providers to openly discuss the use of complementary and alternative medicine (CAM). CAM is a group of diverse medical and health care systems, practices, and products that are not presently considered to be part of conventional medicine, such as herbal supplements, meditation, naturopathy, and acupuncture. Read more

Fat grandmothers

I had none. I'm so fortunate that I had both my paternal and maternal grandparents in my life, and my great-grandparents lived just a few doors away when I was very young. My grandmothers weren't fat, or even plump or curvy. If your grandmother is a member of my generation, you probably can't say that.

Today I was reading "Aging, adiposity, and calorie restriction," by Luigi Fontana and Samuel Klein in the March 7, 2007 JAMA. It's a very cautious and conservative review of the literature from 1966 through December 2006 in PubMed (the largest and most famous medical literature database) which concludes from all the studies done on calorie restriction in the last 40 years that calorie restriction in adult men and women causes beneficial metabolic, hormonal, and functional changes, but (and here's the cautious part) the precise amount of calorie intake or body fat mass associated with optimal health and longevity in humans is not known. And after laying out all this fabulous research (139 citations), the authors take a buy-out and decide that because calorie restriction is difficult to maintain long-term, we might have to turn to a pharmacological agent for a solution. Cha-ching. There's no money in eating less, moving more.

That's what got me thinking about my grandmothers, both of whom lived to their late 80s. One was born in 1876 and the other in 1895, young enough to be the other's daughter (my great grandmother was born in 1873), a time when life expectancy at birth was about 45. Their generations benefited from better hygiene, but I doubt that either ever had a vaccination. It's possible that very late in life they might have had an antibiotic. I don't know much about their early lives, but given the times, I'm sure they were both breast fed by non-smoking mothers. They didn't give birth in hospitals. They both lived their childhood and early married life on farms a few miles from each other, but didn't work in the fields. Housework, however, was much more physical in those days. I use Grandma Mary's pressing irons as book-ends--they were heated on the cookstove and weigh 10-15 lbs. Water was pumped outside and carried in to be heated either in the stove or on it. Grandma Mary was wealthier than Grandma Bessie and did have a German woman as household help, but they would've worked side by side. And both gardened (potatoes, carrots, cabbage, tomatoes, beans, turnips) and raised chickens for meat and eggs. Root crops could be stored, and beans and tomatoes were canned for winter, but table fare was pretty bland and boring. Both women baked their own bread. Beef was not on the table in either household. Grandma Mary rarely served meat, except chicken occasionally, and Grandma Bessie would have only had fatty pork, sausage, or a tough old chicken, too old to lay. Cows were for milk (cash crop) and butter (for cooking), and when you think about it, they were much more difficult to butcher for a single family than a pig or chicken. There wasn't even much in the way of fruit, maybe a few apples, grapes for juice or berries.

According to the authors, the first calorie restriction study was done in 1935 when it was discovered that limiting calories in lab rats increased their life span by 30-60%. Food shortages during WWII in some European countries were associated with a sharp decrease in coronary heart disease, and although this article didn't mention it, I've seen reports like that on breast cancer. Again, the authors use cautious language, but say "population studies suggest that lifestyle factors, such as sedentary lifestyle, dietary intake, and adiposity, are responsible for up to 70% of chronic disease and are a major contributor to reduced longevity. . . data suggest that a BMI at the low end of normal (18.5-24.9) is associated with optimal metabolic and cardiovascular health."

Cross posted at Collecting My Thoughts.

Reduce need for drugs with massage

The Wall St. Journal on March 10 had an article about the Providence Rest nursing home which caters to retired nuns. A licensed massage therapist has cut the home's use of antipsychotic drugs for agitated patients from 30% down to 2 or 3%. Read the story here.

Don't forget your nap

Retirees can enjoy the health benefits of a nap. I was browsing my sign-in at JAMA and the archives today, and noticed this at Arch Intern Med. 2007;167:296-301, "Siesta in Healthy Adults and Coronary Mortality in the General Population." They don't have much evidence for women because very few died during the study, but for men it is clear: the habit of a regular mid-day nap lengthens their lives.

How this study was done: This study involved 23,681 men and women in Greece between the ages of 20 and 86 who volunteered to take part in the European Prospective Investigation into Cancer and Nutrition (EPIC). All those in the study were asked whether they took a midday nap and, if so, how long they napped. They were divided into groups: those who never napped, those who took naps of 30 minutes or more at least three times per week and those who took midday naps occasionally or whose naps lasted less than 30 minutes. The researchers also asked about their levels of activity and diet. The study excluded those who had previously had heart disease, stroke or cancer.

What was found: Of those in the study, 792 died, and 133 of those died of heart disease. The researchers found that the risk of dying from heart disease was 37 percent lower for those who took naps of 30 minutes or more at least three times a week than for those who took no naps. Occasional napping did not have an effect on the risk of dying from heart disease. It appeared that the effect of napping was stronger in men, and in particular, men who worked. The authors said that findings are consistent with the fact that occupational stress can increase heart disease risk. Summary

Five Healthly Resolutions for Women

Five Healthy Resolutions for Women appeared at WebMD. I've added my own comments, and not lifted large sections to post, so pop on over and read the whole article. We've heard it all before, but January 2008 is a good time to renew your resolves of 2007.

Eat, but don’t pig out. All or nothing approach will kill your resolution. When I lost 20 lbs. a year ago, I had a list of things I would avoid, like French fries and cheese, but I allowed myself my favorite restaurant meal on Friday nights--Philly Cheese steak with Fries--which had just about everything on the list!

Jump outside the box. Most workout intentions fall by the wayside by February. Like the diet, don’t be unrealistic. If you hate exercise or you aren’t athletic (like me), you won’t get there by resolving to be different. It’s just you. Park further away. Take the stairs. Take dance lessons. Volunteer to walk a neighbor’s dog. Wear a pedometer.

Guard against the bone thief. Women and osteoporosis. For postmenopausal women 1,000-1,500 milligrams daily if on menopausal hormone therapy. Exercise helps the bones too, as does good nutrition. Smoking and alcohol have to be watched too. To paraphrase Ben Stein, nothing you overindulge in when you're young is worth being disabled or an invalid when you're older.

Get an A+ in taking health exams. Mammogram. Bone density. Pap smear. The colonoscopy is the only exam we have that actually can prevent cancer--find a polyp and have it removed before it causes trouble all during the exam. Colon cancer is so nasty--and so preventable.

Take care of the caregiver. Stress can really lower your immune system. Moms and daughters seem to always be looking out for someone else. Take the time to assess your situation. Who'll take care of everyone else if you're laid up?

Besdine's Boomers

Dr. Richard Besdine uses the mnemonic "Besdine's Boomers" to remember these mid-life strategies for healthy aging.

Blood pressure -- get screened at least once a year and treat appropriately if high
Exercise -- keep the mind and body as vigorously active as possible
Smoking -- stop as soon as you can; the benefits accrue immediately
Driving -- have a physician evaluate you for driving risk
Immunizations -- get a flu shot every year and a pneumococcal vaccine once
Nutrition -- proper nutrition is critical, especially for cardiovascular health
Environment -- keep your home environment safe with smoke and carbon monoxide detectors; get rid of toxic substances under the sink
Screen for cancer regularly -- Colon cancer screening as recommended by your physician; skin should be evaluated by a physician once a year; for women a mammogram annually and a pap smear as recommended by your physician

Booze -- avoid excessive alcohol; alcohol and smoking accelerate bone loss
Osteoporosis -- women and men should get a minimum of 1500 mg. calcium a day; one-quarter of all hip fractures in the elderly occur in men
Oral health -- healthy teeth and good dentures are important for proper eating; see your dentist annually
Mobility -- stay as active as possible
Emotional health -- too little attention is paid to stress reduction in old age, when events such as the loss of work and the death of friends and spouses can cause stress and emotional upheaval
Rx drug safety -- beware of taking outdated and conflicting medicines
Social Networks -- important for stress reduction and overall emotional health

Richard W. Besdine, M.D.
Professor of Medicine and Director,
University of Connecticut Center on Aging,
University of Connecticut Health Center

Seen at Alliance for Aging Research