Issue 44.09

Last week I made many new friends at the AARP convention in Las Vegas.  Over 30,000 attendees came to enjoy activities that were as diverse as the people in attendance.  There were classes on choosing the right doctor, or assisted living center.  Multiple vendors sold hearing aids, walkers and pill dispensers.  All these were expected of a convention for people over 50, but there was much more that I didn’t expect.

Classes on how to use Facebook® and Twitter® were standing room only.  A virtual reality motion ride was also a big hit.  If that wasn’t enough to get your heart pumping attendees lined up at the Las Vegas Motor Speedway for a chance to ride 165 MPH in a real racecar.  This convention was not your grandfather’s version of retirement.

As Baby-Boomers age, they are doing so with a determination that life does not end but is only beginning at 50, and then speeds up at 70.  In conjunction with Dr. Ken Dychtwald, well known author and founder of the company “Age Wave®,” I have been teaching courses at Dixie State College on this phenomenon and how it will impact investing over the next 30 years.  It is a fascinating time and the opportunities for investors are, in my opinion, as good as they have ever been.

My attendance at the convention was the result of an invitation from AARP.  Retirees are bombarded with constant “noise” about where to invest their dollars so AARP decided to offer some help.  An invitation was sent to Certified Financial Planners® across the country.  From the replies, a group of 45 CFPs® were chosen to staff the event.  An area was setup in the center of the convention hall where attendees could receive free, no-strings-attached financial advice.  In order to maintain the highest level of advice, AARP only invited those who held the CFP® designation.  The event was a huge with a non-stop line of attendees seeking advice.

I thoroughly enjoyed the entire event, and the optimism of those I met.  Though they were cautiously concerned, they refused to accept an attitude of gloom and doom.  Perhaps my experience could be summed up in the answer I received from a pair of sisters in their late 70’s when I asked why they were attending the convention.  Their faces both lit up with big smiles as one replied excitedly, “We’re living!”

Dan Wyson, CFP®  is author of the book “21 Financial Myths” and owner of Wyson Financial. 1173 S. 250 W #305 St. George 435-986-9525 - Securities offered through LPL Financial member FINRA/SIPC

Issue 44.09

Love knows no bounds.  Many couples have experienced the extent and truth of this common saying. 

Often, older couples have to cope with adult children who cannot understand why mom or dad wants to remarry.  By updating one’s estate plan, many concerns related to the marriage can be minimized.

In second marriages later in life, there is often a desire to allow the estate of the first spouse to die to be available for a surviving spouse during his or her life.  However, the deceased spouse often wants the estate to ultimately be distributed to his or her children upon the surviving spouse’s death.

The best way to ensure that one’s assets are available for a surviving spouse but ultimately distributed to one’s children from a prior marriage is through the use of a trust.  The trust can be created within a will (this is called a testamentary trust) or it can be created within a living trust (this is a trust created while one is alive). 

Significantly, the trust maker would set forth the terms of the trust according to his or her wishes, and would select the trustee (or trustees) to manage the trust.  Upon the death of the trust maker, the trustee would then manage the trust assets subject to those specified wishes of the trust maker.

For couples in a second marriage, it is often important to sign a marital agreement that states each spouse can dispose of his or her estate as desired.  If such a document is not signed, a surviving spouse could legally attempt to “override” the estate plan of the deceased spouse. 

Often, a given state’s law will provide that a surviving spouse can “elect against the will.”  This means that a surviving spouse is entitled to a spousal share as specified by statute despite the fact that the will may provide differently. 

Proper estate planning in these circumstances can be a great blessing.  It can relieve significant concerns of adult children when a parent remarries later in life, and it can bring peace of mind to the parent, knowing that he or she has succeeded in protecting the financial legacy of the children. 

Jeffery J. McKenna is a local attorney serving clients in Utah, Nevada, and Arizona. He is a shareholder at the law firm of Barney & McKenna, with offices in St. George and Mesquite.  He is the former President of the Southern Utah Estate Planning Council.

Issue 44.09

Are you making mistakes with your money?  Many people do, because of inattention, a lack of knowledge or confidence, or relying of the advice of friends rather than professionals.  Here are some all-too-common money errors to avoid …

Putting off financial planning.  This may be the biggest mistake of all.  Procrastination does not help you save for retirement, and it will not help you reduce your taxes or transfer money to your heirs.  Some avoid planning out of fear – they simply don’t know where to begin.  Don’t let this stop you.  Decide today to do something about your financial future.

Putting all your eggs in one basket.  Too many people invest everything in just one place.  Try spreading your assets across multiple investments, and you’ll help to insulate them against the effects of economic ups and downs.

Buying more home than you can afford.  Interest-only loans, option adjustable-rate mortgages (option ARMs) and lease purchases still tantalize couples and families with small nest eggs, modest salaries and credit blemishes into taking on much more liability than they can bear.  The result is often foreclosure.  Speak to a professional to make sure the amount of home you purchase makes sense for you.

Making impulsive or emotional money decisions.  A decision that feels good (or exciting) may not be appropriate for you financially.  Avoid spur-of-the-moment financial choices, and the influences that may trigger them.  The next time you’re about to make a snap decision, stop and think.  Consider and compare whenever possible.

Living above your means.  In the acclaimed book The Millionaire Next Door, authors Thomas Stanley and William Danko found that most millionaires drive used American cars and shun a champagne-and-caviar lifestyle.  It is the middle class that is generally seduced by big-debt, big-ticket luxury items … sometimes all the way into bankruptcy.  Make wise decisions about money, take the time to consider big purchases, and be mindful of what effect they’ll have on finances down the road.

Avoiding all risk.  Caution is good, but being extremely risk-averse (for example, refraining from investment and just putting your money in an FDIC-insured bank account) may cost you in terms of the growth of your retirement savings and assets.  If you’re holding back because you’re unsure, speak with a financial advisor.

Scott S. Lovell is the founder of Lovell Hathaway, Your Retirement Specialist^SM , and is a registered representative offering securities and advisory services through Geneos Wealth Management, Inc.  Member FINRA and SIPC.  For additional information, Scott can be reached at (435) 656-2518.

This article was written by Peter Montoya, Inc., not the named Representative or Broker/Dealer, and should not be construed as investment advice. Neither the named Representative or Broker/Dealer give tax or legal advice.  Please consult your Financial Advisor for further information.

Issue 44.09

In the New FamilySearch program at http://new.familysearch.org too many patrons have been disputing information without explaining why the original information was incorrect.  In my experience, disputes should be used sparingly!  A dispute is shown as a circle with a slash through it similar to a “no smoking” sign.

If a patron disputes an individual record, the dispute will include all details of that record.  Once that original dispute is removed, all other disputes connected to it will disappear.  Instead of disputing an entire record, patrons should dispute only specific pieces of information that are blatantly wrong or misleading. 

We need to include notes that explain who the dispute is for or what information is incorrect, such as the individual’s name being incorrect, the parent’s name and relationship being incorrect or a “1″ in 1717 being misread as a “7″, resulting in the incorrect year “1777″.

If you have information that you believe is from a reliable source and that it is more accurate than the information in the current system, you can submit another opinion or add to the information someone has already contributed.  

Try thinking “misleading” rather than “incorrect.”  Then you will be less apt to get hung up on spelling differences, minor date differences or incomplete place names.  If an assertion is misleading, such as giving the place of birth in the wrong country, you can submit a dispute with a good explanation.

Some assertions may be incomplete but not misleading.  They do not need to be disputed.  For example, the same place of christening may be listed as Ontario, Canada; Glengarry, Ontario, Canada; St. Raphael’s, Glengarry, Ontario, Canada; St. Raphael’s, Ontario, Canada; Canada, etc., etc.  They all name the same place, and none is misleading.  However, “Glengarry, Scotland” would be misleading and a dispute would be appropriate.

To remove your dispute, simply click on the dispute icon and then click remove my dispute.  The best case scenario would be to correct the information by contacting the original submitter, asking them nicely to change it, share the supporting documentation, and not clutter up the record with dispute symbols.

We need to let go of the idea that what is in new FamilySearch needs to match “my” version of the data in order to be “correct,” and allow other assertions to have value.  Over time, the most accurate information about an individual will rise to the top.

Shanna Sullivan Jones is a professional genealogist.  For additional information, Shanna can be reached at (435) 628-4900 or shannasjones@msn.com

Issue 44.09

The long-anticipated availability of Windows 7 has finally come.  The roll-out is being accompanied by only a little bit of hype and a lot of deals on new computers.  Microsoft perhaps has learned from the total bad-press failures of the Windows ME and Vista Operating Systems.  Vista they were able to salvage by addressing the problems.  Over time, it became a fairly stable and usable system even though it never solved many of the compatibility problems with older software and hardware.

There are a lot of promising signs that they have done their homework correctly this time around.  They did extensive testing with real people in the real world.  They have tried to make this system more usable and less power-consuming.  There are actually computers out there that won’t run Vista, but will run Windows 7 (such as the 1 Gig memory and hard drive capable versions of the Netbook – the small lightweight laptops that are becoming popular).  The look and feel of 7 is more intuitive and users of Windows XP will have little trouble adapting.

On the negative side, XP users must completely backup their data, format the hard drive, install 7, re-install their programs from the original disks and then restore their backed-up data.  You should plan on 4-8 hours of downtime to do everything or have a professional do it for you.  Vista users can simply use the upgrade approach, which leaves all the programs and data on the hard drive.  I would still recommend strongly that you have a backup of anything important before you begin the process.  

Also a concern for many is the price.  There are number of different versions of Windows 7 with different capabilities.  They range in price from $100 to $300, depending on whether they are an upgrade or full version and which capabilities you need (and where you buy them).  I have seen one nice thing that Microsoft is doing to help: they have made a 3 machine upgrade package for $150.  You can use it on up to three different machines, which is nice for people with multiple computers.  It is only available in the Windows 7 Home Premium version, so some of the advanced capabilities (like the Windows XP mode) are not available with it.

You may want to get a whole new computer, as many manufacturers are deeply discounting their Windows 7 computers during this roll-out phase.  I have seen good entry-level laptops from Dell, Gateway, HP and Toshiba for under $500 and desktops from around $400.  Those deals will probably not last long.

As I get to know this new product better, I will pass along what I learn.  

Shaun McCausland has been in the computer industry for 27 years (locally with Musicomp & Bits ‘N’ Bytes) and currently does in-home and on-site computer consultation, service, training and repair. If you have questions, you can reach him at 668-7118.

Issue 44.09

When was the last time your family doctor made a home visit when you or other members of your family were sick?  Today, when illness strikes, you drag yourself to the doctor’s office or the ER room at the local clinic or hospitals––if it’s after hours.  Your doctor’s home phone or location is a well kept secret, unavailable even in the case of emergency.  Physicians have so many patients today and refer problems to specialists.  It’s unusual for the same doctor to treat you from birth to death.

In Eureka, Utah, we had old Doc. Bailey who did it all––maternity cases through senility.  My grandmother was his untrained assistant who went with the good doctor on maternity cases.  She would be there to administer anesthetic to the laboring mother.  A simple cloth dampened with ether was used to help take off the edge of the woman’s pain.  Then grandma would remain at the mother’s side to help her with recovery and her household chores for 10 days to 2 weeks.  Dr. Bailey was like part of our family, a simple call to his office or home would bring him over day or night to treat your symptoms.  Unfortunately for us, those days are gone for most modern communities.

The early pioneers in Utah had very little health care and many women were called and trained by the LDS Church to be midwives.  My grandmother’s mother and another great grandmother served their communities this way.  Living in desolate places, they were sometimes the only medical help available and served as primitive doctors to all in need.  One of my great-grandfathers lived in Springville and was well known as a herbalist.  He was adept at mixing concoctions of different herbs together to fix any known ailment of the day.

There was no health insurance for families or individuals then.  You planned on staying healthy.  If you had illnesses your extended family was your only resource with no social security or Medicare available.  When my grandfather became ill with stomach cancer, that was the end of his income for my soon to be widowed grandmother and five dependent children.  I’m not sure how she paid his doctor bills and interment that was probably just a simple pine box.  Maybe their hardy lifestyle helped them stay healthier than we seem to be, but they also had shorter life spans than we enjoy today.  (To purchase a collection of past columns in book format, contact lin@sunrivertoday.com)

Issue 44.09

If you’ve recently moved to a new address, chances are some of your former neighbors and friends from the community asked you to be sure to keep in touch.  If you receive Social Security benefits, we’d like you to keep in touch too.  In fact, you need to let us know about your new address.  Even if you receive your payments by direct deposit, Social Security needs your current mailing address so you can continue to receive important notices about changes in benefits.

Don’t worry; changing your address with Social Security can be as convenient and easy as logging on to your computer.  Just go to www.socialsecurity.gov and select the “What You Can Do Online” link in the top left corner.  The fourth item down is “If you get benefits.”  That’s where you’ll want to go.  Then select “Change your address or telephone number.”

Once there, the web page will tell you exactly what you need to do to change your address with Social Security.  You’ll need to provide your new address, including your postal ZIP code.  (If you don’t know your ZIP code, the page includes a directory where you can locate it easily by entering your street address.)

If more than one person receives benefits at an address (such as a husband and wife), each person has to make the address change.

If you have a password with Social Security that is all the information you will need to provide.  But remember: you don’t need a password to change your address or phone number.  You just have to prove to Social Security who you are by providing certain identifying information.

It’s that easy.  Once your address is changed, you know you’ll continue to receive important notices from Social Security when needed, such as letters telling you about changes in benefit amounts.

While you’re on our website, you may want to check out some of the other things you can do online, such as changing direct deposit information, getting a proof of income letter, or requesting a replacement Medicare card.

Visit www.socialsecurity.gov to learn all there is to know about Social Security.

Issue 43.09

You have probably never heard of SEC Rule 151A but it will very likely affect you.  If this rule takes effect as scheduled in January 2010 most people over 55 are going to feel the pinch.  You better sit back and take a deep breath because this one is going to hurt.

Rule 151A refers to the sale of Fixed Indexed annuities, or FIAs (once known as EIAs).  FIAs work somewhat like a traditional fixed annuity in the sense that they have a minimal (emphasis on minimal) guaranteed rate of return if held for the life of the contract which is commonly 10 years or more.  They also have a feature that ties them to a stock market index, usually the S&P 500.  If the index goes up then the annuity has the potential to share in a portion of the gain (emphasis on potential and portion).  Even though the client must hold the annuity to maturity or suffer high surrender penalties, many clients are surprised to learn that the insurance company is permitted to make annual changes to how the contract credits earnings.

FIAs are sold mostly by insurance agents.  An agent represents an insurance company in the sale of their products for which the company pays them a commission.  They do not get paid by the client because under agency laws, they do not represent the client. 

The SEC determined that since FIAs earn returns based on the stock market, then the people who sell FIAs should be educated, trained and licensed to deal in securities.  Under Rule 151A a securities license will be required to sell FIAs.  Securities licensees are not agents of a company, but are required by law to act in the best interest of their clients.  They must be able to demonstrate the suitability of recommendations to compliance departments, regulators and auditors.  As you can imagine, the insurance industry has spent huge sums to overturn this Rule before January.

And now for the bad news.  If Rule 151A takes effect in January, free dinner seminars across the country will come to a screeching halt.  Securities’ licensees are generally not permitted to use this sales tactic, and without the large commissions FIAs generate, insurance salesmen could no longer afford to.  Retirees may be forced to say “Goodbye” to all those free dinners at the local buffet.  I told you it would be painful.

Dan Wyson, CFP®  is author of the book “21 Financial Myths” and owner of Wyson Financial. 1173 S. 250 W #305 St. George 435-986-9525 - Securities offered through LPL Financial FINRA/SIPC

Issue 43.09

Will I go blind from age-related macular degeneration?

Macular degeneration alone does not cause total blindness.  In fact, the majority of patients with age-related macular degeneration maintain functional vision.  Even in the worst cases, macular degeneration only affects the central vision and leaves the peripheral vision intact.  This good side vision enables people to see to get around and perform other tasks.  However, when central vision loss occurs, performing tasks such as reading, driving, watching television and recognizing faces becomes extremely difficult. 

Is age-related macular degeneration hereditary?

Although specific genes have not been definitively identified, family history does appear to play a role in macular degeneration.  Those with immediate family members affected by macular degeneration have a higher risk of developing it as well.  Also, women are more at risk than men. 

Is age-related macular degeneration treatable?

There is no treatment available at this time that cures macular degeneration.  There are treatments available to stop the progression of wet macular degeneration but these do not typically restore vision; they simply attempt to keep it from getting worse.  These treatments include injecting medications into the eye or using a laser to destroy the bad blood vessels.  These treatments are most effective when applied early in the course of wet macular degeneration that is why it is so important to see your eye doctor immediately should you notice any visual changes.

Should I take supplements?

Studies have shown that specific vitamins and minerals in specific doses may slow down the progression of macular degeneration in patients with moderate to severe disease.  They have not been shown to prevent someone from developing the disease or have any benefit in mild cases. 

I have macular degeneration, what should I do now?

It is important that you maintain regular care with your eye doctor.  Subtle changes can occur that you might not notice, but are important for your doctor to be aware of. 

Macular degeneration is a frustrating and scary disease that affects millions of people.  However, proper understanding of the disease can decrease your anxiety, help you cope with the disease and help you find ways to potentially minimize vision loss and maximize the vision you still have.  If you have any questions or concerns, please feel free to contact me.  I would be happy to discuss macular degeneration or any other eye conditions with you.

Jason W. Hendrix, M.D. is a local Eye Physician and Surgeon who specializes in cataract surgery and diseases of the eye including the treatment of age-related macular degeneration.  He is located at the Saint George Eye Center, 676 South Bluff Street, Suite 208, Saint George, Utah.  Contact him at 435-628-4507 or visit www.stgec.com.

Issue 43.09

Alzheimer’s is a devastating disease affecting more than five million people in the US (30,000 in Utah alone).  Utah has the second fastest growing rate in the country—a staggering 45% increase in Alzheimer’s cases from 2000-2010!  The Utah Chapter offers a grouping of services to assist persons with Alzheimer’s disease and related dementias, as well as their families.  If you have a loved-one who has been affected by Alzheimer’s, come walk with us in their honor!

On November 14, at Dixie College’s Hansen Stadium (from 9-11am) the St. George Alzheimer’s Association will be sponsoring their annual fundraiser “Memory Walk”.  This walk is an optional ¼ mile to raise Alzheimer’s awareness and to fundraise for our local office.  Alzheimer’s support is given without charge to Southern Utah residents.  At the Memory Walk, breakfast will be served, as well as booths and sponsors, fun and activities for all ages.  Minimum donation is $25 per individual, children under 12 are free.  To sign up a team, to sponsor, or for more information contact the Alzheimer’s Association at 435-628-8656, or sullivan.mitzi@gmail.com.

If you are caring for an Alzheimer’s/Dementia loved-one, you most certainly will need help and support.  Planning for the future is key; with immediate plans beginning soon after the diagnosis has been made.  Put in place important legal documents, arrange your assets–including financial plans for long-term care coverage.  When families are affected, meet together early after the diagnosis.  (This is not a time to rehash or resolve old family conflicts).  Assess as a family the resources available in our community.  In addition to the Alzheimer’s Association, there are facilities which can provide living arrangements for moderate to advanced diagnosis. 

When working with Alzheimer’s patients remember these few tips.  Be sensitive to the environment by keeping it quiet and calm.  Help them to remain as independent as possible.  Offer simple directions.  Establish routine.  Respond to their feelings.  Be flexible, and use creativity. “Re-direct” their frustrations.  Encourage.  Be patient.  Try to avoid:  scolding, speaking negatively, startling the person, “talking around” them as if they weren’t there, or speaking to them as a child.  Don’t be afraid to express affection, and NEVER give up on them!  Remember, they did not choose this disease.

If staying home is the preference for an individual, spouse or family, then support can be given for caregivers from licensed agencies such as Care To Stay Home.  We work with patients IN THEIR HOMES to care for and assist the permanent caregiver with all of their daily living needs– from showering and personal care, to respite, household chores and errands, cooking, toileting, and ambulating.  When some sense of balance is achieved for those caregivers working hard each day, the caregivers health is less likely to decline, and emotions can be channeled elsewhere, outside the patient.  We work hard  to allow those who want to remain in their homes, to do so…….those who “Care To Stay Home”.

Contact Care To Stay Home at 435-652-4888. Address: 720 S. River Rd. Suite A-215K, St. George.