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Retirement Mistakes

retirement-150x150 Don’t make mistakes regarding your retirement. Your senior years should be enjoyable, relaxed and stimulating. They should not be frustrating and worrisome times.

Have Sufficient Assets and Cash Flow

You should not retire unless you have enough savings, pension, funds or 401K funds to support your lifestyle. Social Security alone will not be sufficient to fund your retirement goals. Social Security pays approximately $14,000 a year to retirees. This is simply not enough money to live on!

Be Active In Your Retirement

Researchers show that retirees who maintain an active lifestyle have a longer life expectancy. Exercise is important to seniors. Stimulating your body and your mind will keep you healthy, happy and extend your life.

Stay Close With Friends and Family Members

Don’t retire to your room. Have an outgoing social life and lifestyle. Stay in touch with the people you love and whose company you enjoy.

Alzheimer’s Disease and Dementia

Studies indicate that approximately 14% of all Americans over the age of sixty-five suffer from some form of dementia or Alzheimer’s disease. In the long run. Alzheimer’s disease and dementia negatively impact your brain, which in turn has a negative impact on your life and may land you in a nursing home. Medicare will not cover nursing home stays. Nursing homes can cost as much as ten to twelve-thousand dollars per month. To avoid the potential of an uncovered stay at a nursing home from impoverishing you, you should consult with an attorney who handles elder care work.

Elder Care Lawyer

The Law Offices of Schlissel DeCorpo provides elder care legal services to our clients. We draft wills and trusts. We probate wills. We deal with Medicaid planning issues. We assist our clients with nursing home issues. We provide all types of elder care legal representation. We also draft special needs trusts and supplemental needs trustsfor our clients. Should you need a will, trust or an elder care attorney, call us at 1-800-344-6431, 516-561-6645 or 718-350-2802.

Is Social Security a Ponzi Scheme?

perry-150x150Republican politicians have recently referred to Social Security as a “Ponzi scheme”. This is an absurd misrepresentation of a program that has helped keep many of America’s senior citizens out of poverty. Rick Perry, the governor of Texas, in a recent debate, stated “it is a Ponzi scheme to tell our kids that are 25 or 30 years old today, you’re paying into a program that’s going to be there. Anybody that’s for the status quo with Social Security today is involved with a monstrous lie to our kids, and that’s not right.” What’s not right is that Governor Rick Perry is clueless as to the nature and makeup of the Social Security system!

Ponzi Scheme
Ponzi Schemes are swindles where early investors are paid with money invested by later investors. The later investors never receive a return on their investments or their principal back. Ponzi schemes involve investors who are lied to about their eventual payouts. The Social Security system in the United States is an open system. Annual reports are prepared by trustees. These trustees project the future of the program 75 years in advance. Social Security has been paying benefits to seniors for decades. It has never missed a payment to recipients. The program is currently fully funded to pay all benefits for seniors through the year 2036.

Governor Rick Perry

Perry’s comments about Social Security are inexcusable nonsense! Social Security is an entitlement program because Americans pay into Social Security during the course of their working lives. Entitlement programs are a type of insurance. Social Security is not a form of welfare! It is a social insurance policy. During the course of each American’s working life, he or she pays into a pool, so when he or she reaches retirement age, they will be able to receive the benefits from this pool.
Social Security Trust Funds

The Social Security Trust Fund will have a surplus that will reach it’s peak in the year 2022. At that time, the surplus in the fund will be 3.7 trillion dollars. Social Security is a program that has worked for more than 50 years. Politicians shouldn’t mess with a system that already works well.

Elliot S. Schlissel, Esq. has been helping seniors with regard to elder law matters for three decades. Our Law Office prepares wills and trusts. We handle medicaid planning, nursing home abuse and all estate related problems. We also draft revocable living trusts and irrevocable trusts for our clients. We have extensive experience in preparing special needs trusts for our clients who have children with special needs. Call for a free consultation at 1-800-344-6431, 516-561-6645 or 718-350-2802.
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