Loneliness is Not Inevitable

Obviously, as we age, we lose friends to death, illness and different paths taken in our respective lives. That doesn’t mean that we will unavoidably become lonely. Interestingly, the key to fighting loneliness is to focus on the few people with whom we have close relationships either relatively new or over the years and spend less time with people with whom our relationships are more casual. In a way, focusing on fewer friends rather than on a larger network is the key to not being lonely. To put it another way, it is the depth of friendships, not the number of them, that counts. 

Loss of Mental Sharpness is Not Inevitable as We Age

Interestingly, recent research established that people can remain mentally sharp well into their advancing years as long as they keep mentally active.

Apparently, the key to maintaining excellent “cognitive function” (that’s a fancy term for keeping your wits about you) is to learn new skills, not merely engage in old ones. In other words, if you have a good vocabulary and enjoy crossword puzzles, that would not be considered a “new” activity and would have no significant effect on your brain’s functioning. However, if you were to decide to learn a new language, that would keep your brain sharp. Apparently, the key is to do something new that has a challenging aspect.

Have You Checked Your Credit Report This Year?

It is essential for everyone to check their credit history on a regular basis to be sure that it’s accurate and does not contain false or fraudulent information. Security breaches have become a common occurrence.

FREE credit reports are available from each of the 3 major credit bureaus, Equifax, Experian and TransUnion. These three nationwide consumer reporting companies have a central website, a toll-free telephone number, and a mailing address through which you can order your free annual report.

To order, visit the site https://www.annualcreditreport.com, call 1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. Be sure you are on the "official" www.annualcreditreport.com website. Visit http://www.consumer.ftc.gov/articles/0155-free-credit-reports for more information and important warnings about “imposter” websites to avoid.

Since the law allows you to order one free copy of your report from each of the nationwide consumer reporting companies every 12 months, staggering your requests allows you to monitor your credit every 4 months.

Interestingly, over 80% of the general public does not request credit reports. Don’t allow yourself to fall victim to credit fraud because you failed to regularly check your credit history. It's easy and it's FREE!

Commonly Used Medicines Send Seniors to Hospitals [as reported in The Wall Street Journal]

Commonly used diabetes pills and blood thinners—not high-risk medications like opiate painkillers—are behind most visits by senior citizens to U.S. emergency rooms for drug reactions and unintentional overdoses, according to a study published in the New England Journal of Medicine. 

The findings suggest that hundreds of millions of dollars could be saved annually by improving the education and drug management of people with certain chronic conditions.

The study, conducted by researchers at the Centers for Disease Control and Prevention, estimated that 99,628 hospitalizations every year of people 65 years and older are linked to adverse drug events such as allergic reactions and unintentional overdoses. Nearly half of those hospitalized were adults 80 years old and older.

Avoiding Probate

If all of your assets are jointly owned and you wish to have the co-owner of the account inherit it after your passing, this is a convenient way to avoid probate. But beware. A co-owner can withdraw all money in the account at any time. A safe way would be to list your intended beneficiaries on the bank account and have the bank account titled as payable on death (“POD”) to them. You would remain in full and complete control of the accounts during your lifetime and retain the right to change who will inherit it.