IRS Taking Public Comments On Controversial Change In Rules For Inherited IRAs

A man and woman sitting back to back.


`The IRS will take public comments through May 25 on a controversial change to the Setting Every Community Up for Retirement Enhancement Act, which passed in 2019.  Known as the SECURE Act, it allowed anyone who inherited an IRA to withdraw the money any way that they wanted, including skipping annual distributions, provided the account was drawn down to zero by the end of year 10.  Now, the IRS is proposing that this option would only be available to non spouse beneficiaries who inherit an IRA if the original owner dies before having to take required minimum distributions.  If the original owner dies after April 1 following the year of the person’s 72nd birthday, the date when RMDs are first required, non spouse beneficiaries must take RMDs in the first nine years and then empty the account in year 10 (Kiplinger’s Retirement Report, May 2022 page 14).

Elder Abuse Alert : Policemen Asking For Support Sometimes A Scam

A pile of money sitting next to stacks of cash.


The AARP Has been great at tracking the latest scams all across the nation and letting us know what to look out for.  Although not new, people who call saying they are asking on behalf of organizations such as the National Save The Police Fund which make you believe they are a charity are actually scamming us.  They aren’t a charity.  According to AARP The Magazine, March/April 2022 Issue, page 74) many of these organizations are actually “independent, expenditure-only†political action committees, or PACs.  Super PACs generally are regulated by the Federal Election Committee (FEC) which scrutinizes spending of these organizations very little.  This is unlike a typical charity which has to register with the Internal Revenue Service (IRS) to become a 501 (c) 3.  According to Nomorobo, a robocall-blocking company that works with AARP on fraud prevention, at the end of 2021, robocalls raising money for police groups were the highest volume phone messages in most major U.S. markets.

Time To Ditch The 4% Rule In Retirement

A jar of coins with the word retirement written on it.


Even the inventor of the 4% rule (Bill Bengen), which theorizes that withdrawing 4% in year one and then adjusting each year for inflation your retirement savings will last you a lifetime, is agreeing that we may need to take a more conservative approach given stock market volatility and soaring inflation.  “The problem is, there’s no precedent for today’s conditions,†Bengen told The Wall Street Journal.  Given the challenges of making forecasts right now, Bengen recommends cutting spending, if possible.

 

Monterey, CA Join A Healthcare Professional From Community Hospital Of The Monterey Peninsula For A Walk For Health

A group of people doing different exercises together.


Join Karen Egy, PsyD, Psychologist from CHOMP on a monthly stroll in Laguna Grande Park at 1249 Canyon Del Rey Boulevard in Seaside for a walk in the park on Saturday, May 21 from 9:00 to 10:00 a.m. and learn why physical activity doesn’t have to be hard.  Walking boosts physical health, mental well-being, and can help manage serious health conditions.  The 30 minute walk will be held monthly and you can learn more about improving your health from CHOMP health care professionals who will lead and educate you along the way.  Register at www.montagehealth.org/walkforhealth.

Seaside, CA Elder Abuse Alert : Arts & Crafts

A pile of money sitting next to stacks of cash.


With Beverly Fabrics closing in Seaside and the closest store way up in Soquel, many seniors are looking for supplies online.  Beware of one of the many current scams that are taking place, this one revolving around sewing machines, of all things.  Crooks are advertising online and in social media brand-name models of sewing machines for under $100.  If it sounds too good to be true, it is.  This so-called e-commerce close out sales are typically fake and you will send in your money and never get the product.  There is yet another arts and craft scam going on right now where scammers are putting on virtual arts and crafts fairs.  When you order something from a booth at one of these online fairs, they will take your money but won’t send you anything.

Monterey, CA Ward Off Alzheimer’s And Dementia By Going To Bed Early

A man and woman cutting an apple on a board.


One of the easiest ways to try and ward off Alzheimer’s disease or some other form of dementia is by going to bed early, according to Sara Mednick, professor of cognitive science at the University of California Irvine.  She tells AARP The Magazine (April/May 2022, page 38) that we should all be in bed by 10:00 p.m.  “The earlier you get to sleep, the more slow-wave sleep you’ll get,†says professor Mednick, the author of The Power of the Down State.  Slow-wave Sleep connections between areas of the brain to create stronger memories.  However, SWS goes by the circadian clock and peters out at about 1:00 a.m.  Regular readers of my blog know that both my grandmother and my father had this terrible disease when they passed away.  There is a great group of people at the Alzheimer’s Association in Ryan Ranch who are there to help you.  They also have a 24-hour hotline at 1-800-272-3900.

Pacific Grove, CA Home Care Aide (HCA) Senior Alzheimer’s & Dementia Caregiver Jobs Available : Set Your Own Hours: $2/Hour Extra On The Weekends CNA or HHA Designation A Plus

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Pacific Grove, CA Home Care Aide (HCA) Senior Alzheimer’s & Dementia Caregiver Jobs Available : Set Your Own Hours: $2/Hour Extra On The Weekends CNA OR HHA Designation A Plus (Service Areas Are Aromas, Big Sur, Carmel, Carmel-by-the-sea, Carmel Valley, Castroville, Corral-de-Tierra, Gonzalez, Greenfield, King City, Marina, Monterey, Pacific Grove, Pebble Beach, Prunedale, Salinas, Seaside & Soledad

We have developed a reputation for having the best caregivers (Home Care Aides or Senior Companions) in Monterey County over the past decade and have recently expanded into Santa Cruz County.   We are currently looking for qualified caregivers.

Family inHome Caregiving of Monterey and Santa Cruz is seeking compassionate, mature and dependable caregivers who want to improve the lives of our elderly Clients by providing in-home, non-medical care.  Our services include:

Caring companionship

Meal preparation

Incidental transportation

Running errands

Light housekeeping

Medication reminders

Monitoring of safety while bathing

Information and referral services

Other services that improve the safety, security and quality of life of seniors.

If you believe you would make an exceptional Home Care Aide, we would love to hear from you!  We prefer those with experience helping the elderly, disabled and others with mobility problems.  Having cared for those with dementia and/or Alzheimer’s is a plus.  To work for us, you must have excellent references, a clear criminal record, a good driving record, and an insured reliable vehicle.  To apply, please visit our website www.fhcofm.com, click on home care aides, then careers where you can fill out an application online.  We have immediate openings all over Monterey County.

How To Travel When You Have Parkinson’s Disease

A woman looking out of the window at her home.


Getting back to travelling regularly now that COVID-19 has become an exciting prospect for those that have been cooped up at home for years.  But if you are disabled, this can be a challenge.  USA Today recently ran an interesting article about traveling with Parkinson’s, which in addition to tremors can cause disorientation which sometimes leads to falls.  It recommends starting slow, with small trips around town, and just see what types of obstacles that you run into.  By testing the use of public restrooms, navigating uneven surfaces in dirt, rock, grass and wood-chipped terrain, you can quickly find out which areas you are comfortable trying with a walker.  And during this process, it can also boost your confidence.  You will probably need to book a hotel room which is ADA compliant.  You may also be able to rent a wheelchair at your destination.

https://www.usatoday.com/story/travel/2022/04/07/vacation-parkinsons-disease-trip/7048284001/

New Hope For Parkinson’s Disease Victims

A person holding hands with another person in bed.


There has been a dearth of new drugs and treatment options for those suffering from Parkinson’s Disease.  It’s extremely debilitating and often comes with the unfortunate side effect of dementia.  However, the Michael J. Fox Foundation and other organizations have recently come up with options for the disease which impacts 1 million Americans and for which 60K new cases are diagnosed each year.  In the three decades since Michael J. Fox was diagnosed with the disease, it has become the fastest growing brain disease.  Only Alzheimer’s disease has more victims.  Thanks to an explosion of funding for the disease (Michael J. Fox Foundation has provided $1 billion in funding since its formation in 2020 and the National Institutes for Health (NIH) provided $242 million in funding in 2020) “we have turned the corner,†according to Haydeh Payami, a professor of neurology and genetics at the University of Alabama’s Birmingham School of Medicine.  Some highlights of recent development include:

  • In 2018 a clinical trial found that high-intensity treadmill workouts three times a week meaningfully slowed the progression of Parkinson’s during the six months of the study.
  • Significant research has been done on personalized genetic medicine. Dozens of genetic misfires are now suspected of being responsible for Parkinson’s disease.  You can find clinical trials at clinicaltrials.gov.
  • A huge observational study called the Parkinson’s Progressive Markers Initiative (PPMI) is trying to find cases early by monitoring symptoms that sometimes precede the typical tremors such as loss of sense of smell, constipation and sleeping disorders. The study is targeting enrolling 4,000 people in person and a whopping 500k online to identify markers that can lead to new treatments.
  • The biggest success has been with surgically implanted brain stimulators which use electrical impulses to improve symptoms such as tremors and rigidity. In 2020, the FDA approved Medtronic’s new stimulator with BrainSense Technology.  It can sense and record the brain’s electrical signals.  It is now in clinical trials for something called ADAPT-PD which is testing whether the BrainSense technology recordings can be used to adjust stimulation automatically.

https://www.aarp.org/health/brain-health/info-2021/parkinsons-research.html

Monterey, CA CHOMP Holding Online Lecture About Mental Health On May 19

A black and white logo of the community hospital of the monterey peninsula.


Montage Health’s Community Hospital of the Monterey Peninsula (CHOMP) is holding an online lecture called “Breaking the silence, A stigma-free approach to mental health for those suffering and those providing support.â€Â  Hosted by Karen Egu, PsyD, Psychologist and Danielle Genora Dollinger, PsyD, Psychologist (both from Community Hospital of the Monterey Peninsula Behavioral Health Services) you will learn:

How to bring mental health awareness to everyday life;

Ways to reduce stigma;

How sleep, diet, and physical activity contribute to mental health resilience; and

What resources are available.

Registration at www.montagehealth.org/lecture Is required for the lecture which will be held on Thursday, May 19, from 5:30-6:30 p.m.  A link to the meeting will be emailed the day before the lecture.