Silver Planet™ Help Your Parents Age in Place.

PACE services are offered at the client’s home, the PACE Day Center, and in the community in general. The day center offers on-site physician and nursing care, prescription drug dispensing, lab work and X-ray services, and basic dental care. The center also provides physical, occupational, and recreational therapy; behavioral health assessment and counseling; social work; and dietitian-directed meals.

Last week, I attended a seminar for elder law attorneys on an innovative program for senior care. The model has been around for almost 30 years, and Medicare and Medicaid funding has been available for the program since 1992. Yet few of us have our clients in the program. Indeed, only about 15,000 seniors across the country have enrolled.

Have you lived without your credit cards for the last week? Has it seemed rather mid-20th century, or even un-American, to go “cash only” for all of your purchases?

If it feels odd, just remember that your ancestors lived this way for all of history; consumer debt is a recent luxury. You may also feel like a little kid again, carrying your weekly allowance around in your pocket for purchases. Trying anything new is bound to feel strange until it becomes a new habit.

At the end of 2008, the total credit card debt of Americans exceeded $972 billion. For those households that had a credit card, the average outstanding credit card debt was $10,679. Uninsured medical expenses, lost jobs, and other emergencies no doubt contribute to many Americans falling behind. However, overspending—otherwise known as deliberately living beyond your means—is a significant cause as well.

If overspending describes your behavior, the next few blogs are for you. Later postings will address approaches used for debt relief, no matter what the cause.

The Credit CARD Act of 2009 will be the law of the land on February 22. It gives consumers greater protection from the abusive practices of credit card companies, as well as better education on responsible credit use. I know that the word responsible implies a values-laden judgment on credit usage. My goal, however, is not to chastise or shame, but to nudge you toward better financial planning practices. I define better as that which saves you money.

Have you noticed a flurry of mailings from your credit card account providers lately? Since the first of the year, I’ve received many letters that all start the same way: “Important Notice of Changes to Your Credit Card Account Ending in xxxx.” Almost all of them are notifying me of higher rates on any balances I might carry. Since I never carry balances, I just briefly scan the brochure and duly file it away without a second thought.

Since the January 12 earthquake that devastated Port-au-Prince, Haiti, Americans have opened their hearts and wallets to aid the survivors. Compassion and generosity have surged. Unfortunately, so have scams. But there are a few simple things you can do to ensure that your charitable intent is honored and carried out by reputable organizations.

Before we leave the story of Jim and Sue, there is one more angle to consider in any mortgage payoff analysis. The bane of most investors, especially retirees, is the increase in the cost of living, also known as the reduction in purchasing power, or inflation, for short. Over the last 80 or so years, inflation has averaged 3%. What might inflation be over the next 35 years, which is Jim and Sue’s combined life expectancy?