10A • COTTAGE GROVE SENTINEL • SEPTEMBER 19, 2018
Boomer &
Senior News
Line
By Matilda Charles
Living on Only Social Security
Oregonians Rave About OregonSaves
A
new survey shows strong support
for the program According to new
research sponsored by AARP Oregon,
Oregonians love Oregon Saves.
OregonSaves is a savings program fa-
cilitated by the Oregon State Treasury for
workers whose employers don't offer their
own retirement plans. While the program
began phasing in July 1, 2017, already
more than 80 percent of Oregonians say
they support the program.
The study, conducted by DHM Re-
search in Portland, also shows unusual
bi-partisan support for the program.
“I’m a pollster. I’m asking Oregonians
questions about public policy matters
all the time,” said John Horvick Vice
President of DHM. “Such a high support
across party lines is unusual today. To get
something this high — nearly universal
support for a program — is quite remark-
able. So this program really does stand
out as having broad support across the
state.”
Joyce De Monnin, communications
director at AARP Oregon noted that
Oregonians are anxious about retirement
security. “Too many workers in our state
face fi nancial insecurity because of a
lack of retirement savings, and a culture
of savings,” De Monnin noted. “The re-
tirement savings landscape has shifted in
the last few decades with more responsi-
bility for savings put on the shoulders of
employees
This new survey shows about two-
thirds of respondents feel at least some
anxiety about retirement funds. The
beauty of OregonSaves is that is an easy
way to save with automatic enrollment
and low-fee options.”
According to the State Treasury, more
than $6 million has been saved with 1,135
registered employers and 38,928 en-
rolled employees. These numbers change
weekly
While OregonSaves is making a dent
in retirement insecurity in Oregon, many
employees still lack access to retirement
plans as well, with about 20 percent of
people saying a program isn't available
through their workplace. The state is
requiring employers who don’t offer a
plan to facilitate OregonSaves through
a “rolling” enrollment schedule starting
with the largest employers fi rst.
Horvick said Oregonians with low
incomes have the most to gain from Ore-
gonSaves.
“Those are the employees and the
workers and Oregonians who it’s espe-
cially important to give them that oppor-
tunity to be able to save,” he said; “and to
do so early in their lives so that they can
maximize those benefi ts.”
Horvick noted most respondents feel
retirement is good for the state as well.
More than three-quarters say they are
concerned that some Oregonians who ha-
ven't saved for retirement could become
reliant on public assistance programs.
DHM polled about 1,000 working-age
Oregonians in the summer of 2018,
following up on a similar survey from last
year.
The 2018 Survey of Oregonians: Ore-
gonSaves Program is now available from
AARP Research.
For more information on OregonSaves,
go to www.OregonSaves.com
TURNING 65 AND NEED HELP WITH
YOUR MEDICARE CHOICES?
Call Paul to
help simplify
the complicated.
541-517-7362
Paul Henrichs ~ Local Independent Agent
coverage4oregon@gmail.com
S entinel
C ottage G rove
Heraej=bbkn`]^haHqtqnu
www.cgsentinel.com
@
cgsentinel
@cgsentinel
#cgsentinel
Cottage-Grove-Sentinel
Assisted Living and
Memory Care Apartments
Our beautiful community is designed
for those who need assistance or have
memory impairments. You can be
assured that you or your loved one
will receive the best in care along with
compassionate personal attention from
our well trained staff.
Call or stop by for more
information and a personal tour!
We are available
7 days a week!
1500 Village Dr., Cottage Grove, OR 97424
T
541-767-0080 ฀ www.MiddlefieldOaks.com
A big percentage of retired se-
niors have only Social Security
for income. The average Social
Security benefit is $1409.91
per month. Taken together,
those two facts can be scary,
but less so if you make plans in
advance.
If you know you’ll have only
Social Security, there are
big steps you can take now.
Consider moving to a location
with a lower cost of living or
a warm climate. Share your
home with someone, possibly
another senior. Wait as long as
possible before collecting Social
Security.
It’s the smaller steps, however,
that can make or break your
efforts to live only on Social
Security.
Start your planning a year in
advance. Call Social Security
and find out what your benefit
amount is going to be. Be sure
to calculate the deduction that
will automatically come out for
Medicare.
Practice for at least six months
(a year is better) living on that
smaller amount to be sure it
can be done. Calculate your
monthly expenses and keep
track of every dime you spend
to identify places you can cut
back. Get on a “budget billing”
plan for utilities so you’re billed
the same amount each month.
Give serious consideration to
having a Medicare supplement
plan to take care of medical
expenses that Medicare doesn’t
cover.
Use your extra money to pay
off all credit cards. Have car
maintenance done. Pay ahead
on property taxes. Consider
what items you need to buy
now, while you have income. If
self-employed, beware your tax
situation, and what you’ll owe
when.
Become familiar with senior
services in your area so you
know where and what they are.
Know where the food bank is,
for example.
Think it through before you
jump. Be sure it’s doable ...
living on only Social Security.
For many seniors, it’s the only
option.
Flu Season Is Coming Fast
Flu season is just around the
corner ... again.
Per the Centers for Disease
Control and Prevention, a few
things are new this year. Top-
ping the list -- the vaccines have
been adjusted to better match
the viruses that are circulating.
Fluzone High-Dose is the one
made for seniors over the age
of 65. The vaccine contains four
times the regular dose because
we need help with developing
a stronger immune response.
What’s concerning is that the
high dose for seniors contains
only three vaccines, not four.
The shot has vaccines for A/
Michigan, A/Singapore and B/
Colorado. Regular quadriva-
lent (four-way) vaccines, also
protect against B/Phuket.
However, even with the high-
dose vaccine, we might not be
completely covered. A 2014
study concluded that the high-
dose was only 24 percent more
effective than the regular dose.
It’s curious that the study ran
from March to August, which
generally isn’t thought of as the
flu season.
Another curiosity: While the
CDC says the high dose is
approved for people age 65 and
older, they have not specifical-
ly stated a preference for any
vaccine for that age group.
Here’s a tip: Don’t wait for your
doctor’s office to call. Call them.
Or get the vaccine at a chain
drug store or community health
clinic.
Last year was a high-severity flu
year for all age groups, and the
last thing you want is for the
vaccine to run out. The CDC
suggests getting vaccinated
before the end of October. Flu
season, however, starts in Oc-
tober, and it takes a few weeks
for the vaccine’s protection to
set in. Last year’s flu season was
especially long.
Keep an eye on your state’s
CDC website so you’ll know
what’s going on around you.
Seniors in Bankruptcy
A recent study revealed that an
increasing number of seniors
are filing for bankruptcy. Tak-
ing their assets and subtracting
debts, these seniors have an
average wealth of negative
$17,390. If that wasn’t shocking
enough, saddest of all is that,
per the study, seniors who filed
for bankruptcy had struggled
for five years to avoid it.
None planned to get to that
point. It wasn’t that long ago,
per the study, that full retire-
ment was age 65, and Medicare
covered the majority of health
care with only 12 percent of
income going to out-of-pocket
costs. Now full retirement age is
creeping up, and out-of-pocket
medical care is about 20 percent
of income.
What also has climbed in recent
years is the amount of debt we
take with us into retirement.
As you approach retirement,
rule No. 1 would be to take care
of your credit. Say no, starting
now, to making loans, giving
cash gifts and co-signing for
others.
If you want to be frightened
away from the idea of bailing
out via bankruptcy should
things go wrong, go online and
read about it. Learn about your
state laws. Some debts are just
not dischargeable. Some types
of bankruptcy are nothing more
than an extended repayment
plan. You could lose your home
to pay off creditors, even if the
home is paid for. Depending
on the laws in your area, there
might be a cap on how much of
your home equity they can take,
but it might be all of it.
Some or all of your retirement
accounts or Social Security
might be protected in bank-
ruptcy, depending on what
bankruptcy method you use.
If you’re considering bank-
ruptcy because you don’t see
another way out, get advice.
There might be another way to
handle your debts.
Grove Medical Equipment
“B UILDING A H EALTHY C OMMUNITY ”
Y OUR L OCAL P ROVIDER OF H OME M EDICAL E QUIPMENT !
• OXYGEN • SLEEP THERAPY
• WHEEL CHAIRS • HOSPITAL BEDS
• WALK AIDS • SPECIALTY FITTINGS • SALES AND RENTALS
• INSURANCE BILLING FOR SALES AND RENTALS
541-225-5443
grovemedical@outlook.com
Join us on Facebook
148 Gateway Blvd
(Bi Mart Plaza)
Cottage Grove, OR 97424