The Grandparents Scam...It happens more than you think.

You may have heard of the Grandparent Scam.  A grandparent gets a phone call or an e-mail from someone who identifies as a grandchild. “I've been arrested in another country,” they say “and need money wired quickly to pay my bail. And oh by the way, don’t tell my mom or dad because they’ll only get upset!” This happens to unsuspecting people every day.  At the Area Agency on Aging we have had calls related to the Grandparent Scam.  It has happened so often we wanted to warn people not to fall for this scam.  Recently the FBI reported the following incident in a press release "For example, the actual grandson may mention on his social networking site that he's a photographer who often travels to Mexico. When contacting the grandparents, the phony grandson will say he's calling from Mexico, where someone stole his camera equipment and passport," Of course you would be inclined to do anything for your grandchildren.  This is what is called “The Grandparent Scam.”

The Grandparent Scam has been around since 2008.  Criminals have gotten craftier by using social media sites and learning about the person and sharing that personal information with the grandparents.  It sounds frightening and real.  If this happens to you the FBI recommends: Resist the pressure to act quickly, try contacting your grandchild or another family member to determine whether or not the call is legitimate and never wire money based on a request made over the phone or in an e-mail...especially overseas.

Western Union gives the following advice related to the Grandparent Scam:

1. If you receive a phone call or email claiming a friend or family member needs cash, take a moment to review the situation. Does it make sense? Can you verify the emergency?

2. Call the person at a known telephone number, not a number given to you by the caller. Or, call a mutual friend or another relative and find out if he or she is aware of the situation.

3. Let your friend or family member know that you have received a call or email from the person requesting help. If the request turns out to be false, contact the police immediately.

4. Regardless of whether you are contacted by phone, email or some other means, be suspicious of requests to send money to “help a friend or family member out” unless you can verify the information you've been given with 100 percent confidence.

5. If you did send a money transfer through Western Union, and then realize that it was for a scam, contact the Western Union Fraud Hotline at 1-800-448-1492. If the transaction has not been picked up, it will be refunded to you.

6. Never send money to someone you have not met in person.

If you every feel like you have been a victim of a scam give us a call at 1-800-326-3221 or contact the Illinois Attorney General’s Office Senior Fraud Helpline at 1-800-243-5377.

Don't let it happen to you!

A Checklist for Financial Fitness

Money can be a difficult issue at any age, but financial planning is especially important for your retirement years. You will want to have enough resources to enjoy your time, and to take care of any healthcare problems or other emergencies that may arise. Of course, financial planning does not end at retirement—you need to re-evaluate your plan annually.

Fortunately, useful financial tools and other resources are available on the Internet, in books, and at the public library. A variety of professionals can also assist in financial planning. Here are some issues you should consider as you plan for and enjoy retirement.

Know What You Need.

Saving for a long and productive life can be challenging, but you can and should do it. The first step is to determine how much money you will need each year to live comfortably. This will require a careful examination of your income, resources, and expenses. It will also require that you make decisions about the kind of lifestyle you want throughout your retirement.

Know What You Have.

Social Security, pensions, savings accounts, IRAs—it all counts. When planning your financial future, include all sources of income. Don't forget rental property and bank certificates of deposit. Even your Savings Bonds count. Read all the statements you receive from your pension fund, Social Security, 401(k), and IRAs. If you see a mistake or inaccuracy on any statement, contact the plan administrator and have it corrected immediately.  On March 12, 2014 from 12-1:00 attend the Snacks and Facts to learn more about Social Security Taxation.  The seminar will be held at the Fairview Heights public Library. 

Re-Evaluate Your Financial Plan.

Don't "set it and forget it." A lot can happen between now and your retirement, as well as throughout your retirement years. Re-evaluate your retirement savings plan each year to stay on track. You may want to consult a professional financial or investment planner to maximize your savings potential.

Increase Your Savings.

If you can, contribute the maximum amount to all of your eligible tax-deferred retirement savings, including your 401(k) plan and IRAs. To take full advantage of these tax benefits, you may have to adjust your spending habits or forego some unnecessary spending, such as weekly dinners out. But everything you can save during employment will pay off in the long run!

Track Your Expenses.

Write down everything you spend for three months. Don't rely on memory (which can be unreliable), but make entries every day in your expenses journal. When you review your record, you might be surprised how much you spend on things you really do not need. All expenditures that you can cut from the "unnecessary" can be added to your retirement fund.

Pay Off Those High-Interest Credit Cards.

Credit cards are incredibly convenient, but carrying debt from month to month can cost you a lot of money in interest charges. Make it a priority to pay off your credit card balances every month. When you choose a credit card, look for one with a low interest rate. It can make a big difference.

Organize Your Financial Documents.

Do you know where your insurance policies are? How about your will? Take the time to organize all your important financial documents. Keep them in a safe place. Let your family members, your legal representative, or a trusted friend know where they are located and make sure they can be accessed.

Cover Your Healthcare Costs.

Longer life expectancies mean greater chances of medical problems during retirement. Be sure that healthcare is part of your retirement plan. Many employers provide health insurance for their active employees, but fewer and fewer are covering retirees. Medicare coverage begins for most Americans at age 65, but many Medicare beneficiaries choose to purchase supplemental policies to cover the gaps. You might also want to purchase insurance that would pay for long-term healthcare, such as home care and care in a long-term care facility, in case you experience an extended illness. The cost of long-term healthcare insurance will depend on your age at the time of purchase, the amount of coverage you get, and other policy features. Planning ahead can save you substantial amounts in the future.

Become An Educated Investor.

Get help from a financial professional or consider enrolling in a financial education class to better understand how to manage your money for all your retirement years. Books, magazines, Internet sites, seminars, and classes are available for the financial do-it-yourselfer. You may need to do a little research, and your local public library is a great place to start. If you decide you would rather have expert advice, a wide variety of professionals are available to help you prepare for a financially secure future.

Online Financial Resources

• Administration on Aging: www.aoa.gov
• American Savings Education Council: www.asec.org and www.choosetosave.org
• My Money.Gov: www.mymoney.gov
• Employee Benefits Security Administration, U.S. Department of Labor: www.dol.gov/ebsa
• Federal Citizen Information Center: www.pueblo.gsa.gov
• Financial Security in Later Life: www.csrees.usda.gov/nea/economics/fsll/fsll.html
• Internal Revenue Service Retirement Plans Community: www.irs.gov/retirement
• Iowa State University Cooperative Extension Retirement: Secure Your Dreams: www.extension.iastate.edu/financial/retire.html
• Social Security Administration: www.ssa.gov and  www.ssa.gov/r&m1.htm
• U.S. Securities and Exchange Commission: www.sec.gov
• Women's Institute for a Secure Retirement: www.wiser.heinz.org

This was prepared in collaboration with the American Savings Education Council.

Optimum Balance

From the time a toddler first learns to balance, the brain automatically puts together all the elements needed to maintain that balance.  Better and faster than any computer, the brain takes information from all parts of the body, analyzes each of the thousands (if not millions) of bits of information, develops a plan and sends the message back to execute the plan by all the appropriate body parts to keep us on our feet.  Think of what it must take to keep you from actually falling when you trip, much less for the gymnast to perfectly “stick” a landing after a double flip with a twist over a pommel horse!

           

Balance, once learned, is accomplished through what is called a motor program.  Like a tape loop in an answering machine, once recorded, it pretty much stays there.  Walking is also a motor program.  That's why we are able to walk and chew gum at the same time, without consciously thinking about it. Our brain just makes necessary corrections unconsciously.. and faster... then you could make them consciously.  The main reason people often have balance problems when they get older is more linked to the old adage “Use or or lose it.”

            

As a young person, generally our muscles are more pliable, our joints less creaky and squeaky, our posture more upright.  We walk and run confidently with our heads turned, arms and legs moving, even backwards … often while doing something else quite complex such as kicking or dribbling a ball while an opponent challenges our every move.  Then life happens….

            

You take a bad fall off a bike and your knee is badly hurt.  Your job requires repetitive motion and your shoulder becomes painful.  Renovating the basement results in a back injury and you change how you walk.  Then arthritis sets in.  Or you have a surgery or a prolonged illness.  Last check-up, the doctor says you’re spine is changing because you’re two inches shorter than you were five years ago.  Then your leg buckles at the bottom of the stairs and you are so thankful it was at the bottom, not the top.  But it scared you.  You could have fallen and been badly hurt!  And that fear of falling makes you more careful.  First you modify or give up activities you used to enjoy.  Then you start substituting more sedentary activities.  Then maybe you start touching the wall or furniture when you walk…just to feel more sure on your feet.  Maybe you start carrying a cane or holding on to a spouse or child’s arm.   Now you stop before you turn around when someone calls your name instead of just turning your head to see who wants you.

            

With all these little changes to your movement patterns, your brain forgets a little more about what is used to do automatically.  Now, granted, the information from arthritic joints is not as reliable as from those smooth, young joints.  Swollen feet with poor sensation don’t give much useful information.  Posture is less perfect so the brain’s perception of upright has changed.  And there’s all that new information from hands touching the walls and furniture or a cane or walker that actually makes the brain lazy…all that extra support requires less effort to balance.  So your brain starts to rely on other input and information for balance, from the quick, reflexive sources to the slower, less efficient sources.  Balance becomes a more conscious activity.  But the motor program is still there!

            

The brain can often tap back into those motor programs if you challenge it to do so …in a safe environment, of course.  The brain uses information from your feet (somato-sensory), your eyes (vision or oculo-motor) and your inner ear (vestibular system for balance, not for hearing) and integrates these inputs to formulate a plan which is then executed through your musculo-skeletal system to keep you balanced.  Some of these sources of input change with age and disease processes and cannot be returned to “normal”.  For example, if you have diabetic neuropathy resulting in decreased sensation on the bottom of your feet, you will not likely improve your sensation dramatically.  But we may be able to retrain the brain to use what information is available and/or to rely more heavily on one of the other systems because the somato-sensory system is not reliable.  Or you may be able to develop a new substitute habit to decrease your risk of falling.  For example, if you see poorly in the dark, turning on a light may greatly decrease your risk of falling.

            

Mederi Caretenders Home Health knows the best plan to keep you healthy is to PREVENT a fall. For that reason, our standard of care for EVERY senior includes the assessment and rehabilitation of all the systems that contribute to balance.  Under the umbrella of Optimum Balance, our clinicians help seniors maximize their ability to tap into those old balance motor programs they learned as toddlers, perfected as children and teens and used throughout their lives as adults.  The goal is to strengthen those systems that contribute to balance (the somato-sensory, oculo-motor and vestibular) as much as possible while maximizing the physical ability of the body to accomplish the “plan” the brain develops to maintain balance through strengthening, flexibility and range of motion.

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f you are a senior at risk -- if you are fearful of falling, have fallen or have some condition that has impacted your balance – we may be able to help!  If you are wondering if you qualify for our program under your Medicare benefits, please contact Lori Key at Mederi Caretenders Home Health – 618.792.6547.

Thank you to our Guest Bloggers from Mederi!