Senior Housing and Assisted Living

Earlier this year, Del Webb released a “preview” of its 2010 Baby Boomer Housing Survey that showed that interest in age-restricted housing appears to peak after age 50 and those that are planning to move again, almost 10 to 1 indicated a preference for an age restriction in their next choice for housing.  The full survey fills in all the details and finds that changing attitudes are leading to changes in latitudes when it comes to decisions on retirement housing. According to the survey, Boomer movement is defined by what they do with their life and mind that makes a difference in how they live, work and play and portrays a highly mobile demographic.  Some of the highlights include:

Trends on Moving in Retirement:

• About 1/3 of Baby Boomers plan to move to a new home during retirement.
• The desire to move during retirement is on the rise as 42% of today’s 50-year-olds plan to do so as compared to 36% among the 1996 50-year-olds.
• Approximately 50% of both age groups who plan to move during retirement plan to move to a different state while about 25% of them plan to move to a different city within the same state.
• The Carolinas are the New Florida among both the younger and older Baby Boomers. Florida, Tennessee and Arizona remain Top 5 contenders.
• “Cost of living” and “healthcare” were the MOST important considerations in selecting a location for both age groups; trumping a “favorable climate,” which was the most important factor in 1996.
• Interest in age-restricted appears to peak after age 50.  Of those Del Webbers who are planning to move again, fully 10 to 1 indicate a preference for age restriction.

Working in retirement:

• The vast majority of both those planning for retirement and those living retirement are planning to include working as part of their lives. 
• Among young boomers, 72% plan to work.  For older Boomers not yet retired, 74% plan to work.  In the 1996 survey, 68% of the 50-year-olds surveyed said they planned to work
• Today’s 50-year-old Boomer anticipates retiring four years later.
  • Compared to 50-year-olds in 1996, today’s 50-year-olds plan to retire a median of four years later – Age 67 vs Age 63.
  • Of those turning 50, 54% anticipate retiring from their primary career after age 65; 0f those turning 64 and still working, 8% plan to retire over the next few years, and 74% after the age of 65.
  • 14% of 50-year-olds and 18% of 64-year-olds who are still working never anticipate retiring.
• Among current retirees, just under 40% report actually working since retiring.
• Finances- Fulfillment & Fun – While finances are a common reason for why many will continue to work, other top reasons include:
  • “Warding off boredom/keeping busy”
  • “Self satisfaction”
  • “Simple enjoyment” 

“Baby Boomers have a much different mindset toward growing older than earlier generations,” said Deborah Blake, Del Webb creative director. “Feeling older is just a state of mind for many of them – one that most have no interest in. Many consider themselves healthy and active, primed for the next part of their lives with no plans to slow down anytime soon. They want to do it all as they enter this next phase, from working longer to trying Zumba and acting classes to volunteering their time.”

Del Webb has conducted these surveys since 1996.

2010 Del Webb Baby Boomer Survey

National HealthCare Corporation (NYSE-Amex: NHC); (NYSE-Amex: NHC.PRA) announced the recent opening of The Palmettos of Mauldin, a 45 unit assisted living community in Mauldin, South Carolina near Greenville.  The Palmettos will have 27 apartments in the assisted living wing and another 18 in the memory care wing that is adjacent to NHC Mauldin, a 180 bed skilled care facility, and expands NHC’s residential care in South Carolina to over 2,100 beds in 15 locations, along with 4 homecare offices and 7 hospice locations.

“The Palmetto’s location alongside the therapy and rehabilitation programs of NHC Mauldin will allow residents the freedom to remain in their apartments while receiving temporary care next door,” according to NHC President Steve Flatt. “This is also a strategic location because it can serve the Fountain Inn, Simpsonville and Greenville, South Carolina markets.”

Alden Gardens of Bloomingdale, Illinois recently celebrated its official grand opening  with Harris, the Illinois Housing Development Authority (IHDA), National Equity Fund, other project participants and local elected officials more than a year after breaking ground.  The supportive living community for seniors will provide housing for over 80 seniors who are in need of an affordable, assisted lifestyle through Illinois’ Supportive Living Program administered by the Department of Healthcare and Family Services.

To help Alden fill a possible financing gap created by state budget shortfalls, Harris worked with the IHDA to provide a line of credit secured by Medicaid receivables. According to the IHDA and the Affordable Assisted Living Coalition, this is the first time this structure has been used in conjunction with Illinois’ Supportive Living Program.

"In our current economy, we know we need to be flexible and willing to help structure one-of-a-kind financial arrangements," said Katherine Mazzocco, vice president of Community Development, Harris. Harris also provided more traditional financing arrangements, such as credit enhancement for $10.7 million in tax exempt bonds, bond underwriting and remarketing, an interest rate swap, and bond investment.  Other key participants included the IHDA, the National Equity Fund, DuPage County’s Community Development Commission, Federal Home Loan Bank of Chicago, and Enterprise Community Partners, Inc.

"IHDA is proud to have invested more than $13.2 million in tax exempt bonds, interest-free loans and tax credits to help leverage financing for this project," said Gloria L. Materre, Executive Director, IHDA.

Chronic illness and disabilities force people to seek Long Term Care services. Help with daily activities such as eating, bathing, using the bathroom, dressing, moving from bed to chair etc. is termed as long term care. Medicare covers only skilled care and does not pay for help with dailiy activities as it is not skilled care. Help in your own home or in an assisted living centre is not covered by Medicare. Medicaid comes into effect only after all of a person’s assetts, savings and dignity are wiped out.

Expenses arising out of long term care can be met with Long Term Care Insurance. With increasing life expectancy the need for help with daily activities also increases. By 2030 the last of the Baby Boomers reach 65 and 40% of them will live to be 90. At some point in their lives 70% of people over the age of 65 will require help with their daily living. Injuries and accidents can happen to anybody at anytime forcing one to rely on these services.

A shocking 40% of people receiving help with daily activities are working age adults between 18 and 64. Long term care insurance bought at an early age locks in rates which can not be found at a later age. This kind of insurance can not be bought at a time of crisis or only at the time you need it.

Children or family would like to help. But children will have children of their own or cannot quit their jobs to care for their elderly parents. An insurance with the maximum coverage gives you the financial freedom to choose the kind of services you want and where you want to receive it.

Everyone hopes to leave their life savings to their loved ones and not spend it on hospital and home care bills. You can protect your savings and assests with long term care health insurance and if you recover and over come the need for help with daily activities you will still have your savings to enjoy.

Want to find out more about Long Term Care Insurance, then visit Maria Smith’s site on how to choose the best Long Term Care Health Insurance for your needs.

Arrest records in the state of Florida are getting more and more popular compared with the other vital records that the state is also maintaining. Every arrest that is done in Florida is recorded by its law enforcers as mandated by the law and these men in uniform are doing their job well enough in updating Florida Arrest Records. Thus, you can always turn to these records for any information that you need.

It is the Division of Criminal Justice Information Services at the Florida Department of Law Enforcement that stores these arrest records in this state. Thus, any concern with this matter as well as searching for these files will be best addressed to the said department. Not until the court will order some restrictions to people’s use and access of these records, they will always be considered as public records. For you to obtain them, there is an official request form that you must submit, which form is found online through the FDLE.

The most common reason for searching Florida Criminal Records is to investigate someone-a friend, a neighbor, an applicant, or anyone whom you think needs to be investigated for some reasons. Think of that person that you just met, but who would like to make friends with you right away. Think about that man or woman who wants to be hired in your company. Think about your children and family who will be taken care of by someone whom you don’t even know personally yet. Would you just allow any of your loved ones to be hurt by a stranger in any way? You should say no to that.

Acquiring these criminal records in Florida can be done in several ways depending on the policies and treatments of a particular state department. The law can either prohibit a person from accessing these records or may show these files to the world. Whether the involved person was imprisoned or not, an arrest record will still be on file and the world is entitled to see them. For those cases in which the result that will be gathered from searching these records will be used for some official applications, it is advisable that you should ask the assistance of some lawyers or professionals who are surely experts in dealing with this matter.

Arrest records are public records. Meaning, anyone from the public can have access to them anytime. Parts of the information that will be revealed in this file are the name of the arrested individual as well as the name of the victim, and the time occurrence of such crime. Since anyone can also view your arrest record, if you have any, it would be much safer for you to also check your own file regularly to correct if there may be some inaccuracies on the provided information that may totally destroy your reputation as a person.

Obtaining this Arrest Records Public is indeed important in many ways. It’s the best tool to use in ensuring the safety and security of not only yourself but of your loved ones too. Public records do exist not just to be left in the corner but to be used. You have the option to search for them in any way that you wanted to-either for free or fee-based- that’s your call for as long as you’re able to provide yourself with that inner peace that you need.

We have information and insight on various sources of Florida Arrest Records and other paid and Public Criminal Records.

Reverse mortgage is getting to be more and more common in most homes these days. Along with its popularity is the soaring of housing prices and the lowering of interest rates at their record lows. Let’s take a look at the reasons why despite the bad publicity that reverse mortgages had, they have managed to stay in the industry all these years to become the “in” thing for many borrowers today.

Nicknamed predatory loans, the reverse mortgage took more beating when it was embroiled in scandals. But in the last decade, it has earned more credibility after legislation required more upfront disclosures of costs.

This mortgage is designed specially for homeowners which are aged 62 and older. Through this product, seniors can receive a loan against their home in the form of a lump sum, regular monthly checks or a line of credit. The loan is typically repaid with interest when the borrower sells the house, permanently moves, or dies.

Here are some of the reasons that borrowers resort to a reverse mortgage.

Pay Traditional Mortgages – Homeowners use a reverse mortgage to pay down their remaining debt on their traditional mortgages and use the remainder to fund other retirement costs.

The Ownership of Home – When the loan is accepted, the ownership of your house is not affected and you will still retain title to your home.

- Most of the costs are paid for through the reverse mortgage loan.

Date – Compared to a traditional home equity line of credit, a reverse mortgage allows debt payments, including interest and other costs, to be stalled until a later date, typically when the owner dies.

Price Changes – The debt can never go beyond the value of a home at the time that the loan is already repaid. This means that when soaring housing prices begin to drop, borrowers won’t be held responsible for paying back a higher amount.

However, reverse mortgage also has its share of disadvantages.

Rate Variability – A reverse mortgage tends to be a variable rate mortgage loan that entails substantial front-end expenses to compensate for expenditures if ever the borrower exits early.

Higher Prices for Older Borrowers – The loan will be bigger for pricier homes and older borrowers.

Expensive and Complicated – According to advocates and financial planners, a reverse mortgage can become expensive and complicated. Therefore, seniors who are interested in applying for a reverse mortgage should first learn how it works. Before they look for a lender, they should be ready to receive independent counseling.

High Rates – Borrowers who choose to take the lump sum are slapped with higher interest payments compared to those who settle for installment checks or a line of credit. The reason for this is that, with the two latter choices, interest is only computed on the portion used.

While financial planners recommend that seniors only take a reverse mortgage if they plan to stay longer in their homes, evaluating the product’s options may still be confusing. Before you apply for a reverse mortgage loan, make sure that you get impartial counseling first to help you decide if the product is right for you.

Know more regarding the advantages and disadvantages of reverse mortgage. Find an online home loan equity mortgage calculator.