New Social Security Proposal May be Harmful – Alzheimer’s – Optimum Senior Care – Chicago In Home Care

Posted on May 2, 2019 by Optimum Senior Care Blog

New Social Security Proposal May be Harmful – Alzheimer’s – Optimum Senior Care – Chicago In Home Care – www.OptimumSeniorCare.com

A plan calling for changes to the Social Security program has the backing of many Americans, but can it deliver?

New Social Security Proposal May be Harmful

A plan calling for changes to the Social Security program has the backing of many Americans, but can it deliver?

The Social Security program is critical to the well-being of many older Americans. Each month, 43 million people receive a Social Security payout, and three out of five count on it to cover at least half of their expenses. If there was no Social Security program, the Center on Budget and Policy Priorities, an American think tank, estimates that the rate of poverty among retired workers in the U.S. would quadruple.
But Social Security payouts can’t continue at their current rate forever. Sometime in 2034, according to the Social Security Board of Trustees, the program will have to cut payouts by as much as 21 percent. Asset reserves will run out, and a workforce that is smaller in size than the population of retirees won’t generate enough income for the system to cover payments.

How Social Security is Funded

There are three revenue streams that fund the Social Security program. The smallest portion, 3.4 percent in 2015, is from taxes on Social Security benefits themselves. If you have too much income while claiming Social Security benefits, the Internal Revenue Service (IRS) will reach out and take some back.
Interest on the $2.8 trillion in spare cash, invested by law almost entirely in special issue bonds from the federal government, creates the second source of funds. With lending rates just off historic lows, the bonds return in the 2 to 3 percent range. That’s still enough to kick in about 10 percent to the program annually.
But the majority of funding (86.4 percent) is a result of the 12.4 percent payroll tax. The tax on earnings is paid in full by the self-employed, and often split 50-50 between employers and their employees. Currently, earned wages up to $132,900 are subject to the Social Security tax.
The image below is from https://www.fool.com/retirement/2016/10/23/the-reason-why-social-security-cant-go-bankrupt.aspx, which credits Image Source: Social Security Administration.

Five Ways Social Security Will Change by 2020

The full retirement age will keep moving higher. Your full retirement age, when you are eligible to get 100 percent of your benefit, is determined by your birth year. Way back in 1983, the Reagan administration passed a reform to increase the full retirement age by two years, from 65 to 67. Beginning in 2017 and ending in 2020, the full retirement age will increase by two months every year.
A decline in purchasing power of Social Security dollars will continue. The purchasing power of Social Security dollars has taken a 30 percent dive since 2000, according to an analysis from The Senior Citizens League. Thanks to the inflation guide that determines annual cost-of-living adjustments (COLA), older Americans tend to lose out due to the comparatively faster-rising cost of health care and housing (more prominent expenditures for most older adults) compared to the economy as a whole.
The cap on earned income subject to the Social Security tax will go up. The primary vehicle for filling Social Security coffers is the tax on earned income. In 2018, all income up to $128,400 was taxed at 12.4 percent. In 2019, that number has gone up to $132,900, as the National Average Wage Index has continued to rise. “The easiest fix would be to not have a cap on earned income subject to Social Security Tax. There is precedence in this approach as there is no upper limit on income for income tax purposes,” says Mickey Batsell, CSA Instructor and board member for the National Insurance Marketing Executives.
It will be a teeny bit harder to qualify for benefits. Not everyone gets Social Security; most of us have to gain the right by earning forty lifetime credits. You can earn up to four each year, so you need ten full years of work history to qualify unless an exception, such as disability, applies. And those lifetime work credits were set at $1,320 in 2018, so earning four times that, or $5,280, maxed out your credits for the year. Inflation will likely keep pushing that limit up over time, perhaps to a total of $5,400 or so by 2020.
More retirees will be subject to taxation on their benefits. Bad news: If you already get Social Security benefits, it’s more likely you’ll get a portion of them taxed by 2020. Single taxpayers with more than $25,000 in income and married couples with more than $32,000 are subject to taxation on half their benefit amount. And up to 85 percent of your benefits will be taxed if your income is over $34,000 for single filers and $44,000 for couples filing jointly. These income thresholds haven’t been adjusted in nearly 35 years, and now about 56 percent of households owe tax on their Social Security benefits.

Congressional Petition

A new plan gathering steam, backed by Washington, D.C. nonprofit The Seniors Center, calls for a trio of changes to the Social Security program. The plan seeks to:

Create a true trust account that would ensure all payroll contributions are deposited for the payment of Social Security retirement benefits.
End the practice of allowing the federal government to borrow Social Security’s surplus to finance general expenditures.
Legally require the U.S. Treasury to begin accelerated payments of funds taken from Social Security.

These changes would provide transparency in the flow of payroll tax dollars from paycheck to Social Security payout, and transform the way asset reserves are currently invested, which is in special-issue Treasury bonds.
However, it would seem the system already has clear income and expense channels. Every penny that comes in is accounted for, and 99 percent of funds collected end up in the hands of eligible beneficiaries. Less than a single percent of collected revenue is spent on administrative costs.
It’s also worth noting that the program is its own separate entity. It can only use funds created for it through payroll tax, interest income and the taxation of benefits, along with its nearly $2.9 trillion in current asset reserves.

The Social Security Asset Fund

Lawmakers have publicly bemoaned the use of Social Security asset funds to pay for other programs for many years. Here’s former Speaker of the House Paul Ryan on July 7, 2005:
“Congress needs to stop raiding the Social Security trust fund to pay for unrelated government spending. The American people are right to demand an end to this shameful practice. … For over 30 years, Congress has spent the Social Security surplus on other government programs, and it’s a safe bet that this will continue unless we can enact legislation that requires a change.”
Despite Ryan’s and many others’ public outrage at the perceived situation, the economic reality is much different.
How much has the federal government borrowed from Social Security funds? The question is largely one of semantics, since the U.S. Federal Reserve creates our money in the first place. For a simple explanation of the economics involved, this response by self-described eco-nerd Chris Brown is concise yet thorough. At any rate, funds are never segregated into a separate pot for Social Security, just like your bank never has your money in cash in a separate account for you.
Furthermore, it’s a legal requirement that Congress has the ability to borrow money from Social Security’s asset reserves. In fact, this borrowing generated $85.1 billion in interest income for the program in 2017. Even as assets are anticipated to begin spending down, the next decade is expected to yield more than $800 billion in interest income. Take away this source of income, and Social Security’s funding problems are exacerbated.
The third point, which calls for the government to make accelerated paybacks of funds that it has borrowed from Social Security, may be a bad idea. It would choke off interest in-come for the Social Security program while requiring the government to borrow funds, thus triggering it to issue more debt. As our national debt rises beyond $22 trillion, it seems unwise to balloon it further and eliminate a source of funding for general expenditures.

Conclusion

It’s clear that in the near future, the Social Security system needs to evolve to meet retirees’ needs. However, we must take a good look at the specific provisions of any plan to ensure a change is truly a step forward.

Click below for the other articles in the April 2019 Senior Spirit

Health – Preventing the Deadliest Diseases is Easier Than You Think

Lifestyle – Are You Prepared to Retire Before 60?

Technology – Best Products from the 2019 Tech Show

Coffee Break – How to Stay Healthy and Happy Your Whole Life

Famous and 65

Sources:
https://www.quora.com/How-much-money-has-the-federal-government-borrowed-from-Social-Security-and-Medicare-funds
https://www.fool.com/retirement/2019/01/06/this-social-security-proposal-is-terrible-but-a-gr.aspx
https://www.prnewswire.com/news-releases/373-000-petition-congress-repay-our-social-security-trust-fund-300761260.html
http://www.prweb.com/releases/2017/09/prweb14722249.htm
https://www.fool.com/retirement/2018/07/17/heres-what-would-happen-if-congress-paid-back-all.aspx
https://www.fool.com/retirement/2016/10/23/the-reason-why-social-security-cant-go-bankrupt.aspx
https://www.fool.com/retirement/2017/12/11/this-34-year-old-social-security-rule-may-be-hurti.aspx
https://www.fool.com/retirement/2018/01/15/5-social-security-changes-to-expect-by-2020.aspx

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Preventing the Deadliest Diseases is Easier Than You Think – Alzheimer’s – Optimum Senior Care – Chicago In Home Care

Posted on May 2, 2019 by Optimum Senior Care Blog

Preventing the Deadliest Diseases is Easier Than You Think – Alzheimer’s – Optimum Senior Care – Chicago In Home Care – www.OptimumSeniorCare.com

Simply adding fiber to your diet can conquer several of the most common, and serious, diseases.

Preventing the Deadliest Diseases is Easier Than You Think

Simply adding fiber to your diet can conquer several of the most common, and serious, diseases.

Do you love carbohydrates, but thought they weren’t good for you? Think again. Fiber is a type of carb that your body can’t digest, and a review of recent studies show it plays an important role in fighting disease. The latest national dietary guidelines point to the easiest way to improve your diet for a healthier outcome: Eat more fiber.

Lower Your Risk

Fiber lowers the risk of heart disease, Type 2 diabetes and colon cancer by 15 to 30 percent. Incredibly, people who ate more fiber also lowered their risk of dying early from any cause by the same margin. The more fiber people consumed, the greater the protective benefits. In fact, every 8 grams of additional fiber eaten per day correlated with a drop in the risk of heart disease, Type 2 diabetes, and colon cancer.
The results were gleaned from a review of 243 studies that followed participants for numerous years and recorded what they ate and their health outcomes, as well as clinical trials in which volunteers either changed their diets or were part of a control group. The researchers also examined data such as blood pressure, body weight, cholesterol, blood sugar, and inflammation.

How Much Fiber is Enough

The average American eats about 15 grams of fiber daily. However, new guidelines recommend that women consume at least 25 grams daily, and men have 38 grams a day.
“Our research indicates that people should have at least 25-29 grams of fiber from foods per day,” says Andrew Reynolds, lead author of the study and a researcher at the University of Otago in New Zealand. “Currently, most people consume less than 20 grams of fiber per day, so being more conscious about choosing high-fiber food options will help reach that target.”
Various studies point to the reason fiber is such a strong ally for good health. It stimulates beneficial bacteria in the gut to reduce colon cancer risk. Foods rich in fiber tend to take a long time to chew and be heavier than others, increasing satiety and likely lowering obesity rates that are linked to heart disease and cancer.
You may wonder exactly what you need to eat to meet the fiber guidelines. The Mayo Clinic offers a handy chart of high-fiber foods to get started. For instance, a cup of red raspberries is good for 8 grams of fiber, or you can eat an apple with the skin for 4.5 grams. Green peas merit 9 grams of fiber per cup, a raw carrot adds 1.5 grams, and a cup of black beans is good for a whopping 15 grams.

Fibrous Foods You’ll Want to Eat

When you get right down to it, adding plant fiber to your diet often means adding vegetables. Many Americans don’t eat many unprocessed veggies because they’re not as appealing as other, less-nutritious foods. To help improve your habits, we’ve listed 10 fiber-rich foods that you’ll look forward to putting on your plate.

Berries. It doesn’t matter what kind you reach for. Blueberries, strawberries, blackberries and raspberries are all dense in fiber, whether you buy them fresh or frozen. Add them to smoothies, pancakes and cereal, or pour a little milk over your berries for a delicious, naturally sweet treat.
Avocados. If you haven’t taken your taste buds south of the border, it’s time. Use creamy avocados to make savory guacamole or to top tacos, enchiladas or quesadillas. They pair well with grapefruit slices as a refreshing salad, or squeeze some lime juice in the depression left by the pit for a healthy snack.
Apples. When you need a crunchy snack that is simple to pack and carry, it’s hard to beat a flavorful apple. Satisfy sweet-tooth cravings with a Fuji or Gala variety, while Granny Smith apples pair nicely with a bleu cheese or aged cheddar for a delicious dessert.
Popcorn. Yes, one of America’s favorite snack foods can be good for you, too! This whole grain delivers a nice fiber boost to your diet. Munch down on a few cups without adding any toppings to get the most bang for your caloric buck.
Potatoes. Baked, boiled, broiled or tossed in the microwave . . . who doesn’t like potatoes? Yukon golds, russets, white and purple varieties all offer a nice fiber punch when eaten with the skin. Sadly, French fries and potato chips are banned from healthy diets and don’t count. The next-best thing? Cut up some taters and spread them on a baking sheet drizzled with olive oil. Salt, cook and enjoy!
Nuts. Sunflower seeds and almonds lead this fiber-rich pack, but all varieties of nuts will help you reach your daily fiber requirements. Grab a handful to snack on, or add them to salads. Use chopped nuts to coat cheese balls or meat dishes, or to enhance a vegetable salad.
Dried fruits. All dried fruits are rich in fiber and it’s oh-so-easy to eat them by the handful. Dried fruits contain a natural sweetener called sorbitol that is pleasant on the tongue but can lead to unintended consequences down below. To avoid the desperate search for a porcelain throne, balance your dried fruit consumption with various other foods.
Whole grains. It’s OK to eat bread again! At least if it’s made from whole grains. Yep, whole grain bread, whole grain pasta, brown rice and oats are all back on the menu for fiber lovers. Just make sure that whole grains are the first ingredient listed to get your fiber boost.
Beans. Inexpensive and ubiquitous, the lowly bean will drop a fiber bomb into soups, stews, salads and chili. Whether you choose lentils, green beans, edamame or any of the hundreds of heirloom varieties, beans have the added benefit of delivering protein as well.
Broccoli. Not everyone is a broccoli fan, but if you are, you can add it to the menu whenever the mood strikes to put not only fiber, but many other nutrients on your plate. Dust it with Parmesan cheese for an elegant main dish or side.

Supplemental Fiber

While it may be tempting to replace fiber-rich foods with supplements, the data did not show the same benefits when supplements or powders were used to introduce more fiber into meals.
“The real issue here is that eating a high-fiber diet from foods is almost, by definition, an excellent diet,” says Joanne Lupton, a spokesperson for the American Society of Nutrition and professor of nutrition at Texas A&M University. “It’s hard to reach dietary fiber recommendations without eating a lot of fiber . . . so once you take it out of the food, you probably won’t have a very good diet.”
Tasteless and odorless, supplements can be added to an endless array of soft foods and batters, changing only the texture. But at a mere three grams of fiber per tablespoon, you’d have to use an awful lot (9 tablespoons for women, 13 for men) to meet current guidelines. That’s a lot of chewy yogurt and grainy pancakes.
“You would be sprinkling it on everything all day long,” says Lona Sandon, assistant professor of clinical nutrition at University of Texas Southwestern in Dallas. “Just adding fiber to a food doesn’t necessarily make it a health food. I’m sure there are people out there who try to justify it.”
Health professionals warn that people taking tricyclic antidepressants, diabetes drugs, cholesterol-lowering drugs, lithium, digoxin or the seizure drug carbamazepine shouldn’t use fiber supplements without first talking to their doctor. A high daily intake can interfere with the absorption of nutrients and the active ingredients in these drugs. While that can also occur with natural sources, it’s a lot easier to overdo it with packaged fiber.
However, supplements do provide some benefits. While products like Metamucil, Benefiber, Fiber Choice and Citrucel are lacking the vitamins and minerals contained in whole foods, powdered fiber can lower cholesterol and maintain more stable levels of blood sugar.
In addition, powdered fiber is good at moving bowels. Really good.
“Some of them cause more GI [gastrointestinal] rumblings than maybe people would care to have,” Sandon says.

Two Kinds of Fiber

Both varieties of fiber are good for your health. Soluble fiber, the kind that dissolves in water, lowers glucose levels and blood cholesterol. Find it in oatmeal, nuts, beans, lentils, apples and blueberries. Insoluble fiber, which doesn’t dissolve in water, is good for moving food through your system. Good sources are whole wheat, couscous, brown rice, legumes, carrots, cucumbers and tomatoes.
How can the average person get more fiber? Following are some quick tips from the Harvard School of Public Health:

Eat whole fruits instead of drinking fruit juices.
Replace white rice, bread, and pasta with brown rice and whole grain products.
For breakfast, choose cereals that have a whole grain as their first ingredient.
Snack on raw vegetables instead of chips, crackers, or chocolate bars.
Substitute beans or legumes for meat two to three times per week in chili and soups.

As an added benefit, fiber regulates the body’s use of sugars so it naturally helps put a damper on hunger sensations.