Our country doesnt have adequate programs in place to take care of seniors. Seniors are living longer, pensions are almost nonexistent and social security is shrinking. Medicare covers less, Medicaid is for the destitute. On top of that it has never been more expensive just to exist. A reverse mortgage will never solve this problem, but it can dramatically help. A reverse mortgage converts part of your homes equity into cash that doesnt have to repaid, at least initially. Depending on your age, you can borrow 40-70 % of your homes value to pay off existing mortgages and other debt. You can receive payments and or a lump sum of money. The borrower is never required to make a house payment ever. This is very freeing and can make all the difference.The most common misconception is that the seniors no longer own the home. The fact is, they retain 100% ownership, the same way they do with a forward mortgage. They can sell, refinance, payoff, and their designated heirs are entitled to the home and the remaining equity. The effects of a reverse are the same in many ways as actually having the home paid off free and clear.A reverse mortgage can offer protections that having a paid off home cannot. A paid for house can be an attractive target for lawsuits, and liens. A home with a reverse mortgage is over encumbered, which simply means it does not appear to be paid off. This can be a significant deterrent.Is a reverse mortgage the solution to your retirement needs? Only you can decide.About the author: Kevin Mansouri is the owner of Mortgage Solutions LLC a locally based forward and reverse mortgage company in Sandy Utah 801-506-0307, kevin@better-homeloans.com

As our loved ones age, our concern with their ability to manage the tasks of daily life safely at home increases. Most seniors prefer to stay in their own home and maintain their independence for as long as possible. However, the idea of accepting help at home can be met with great resistance. One approach that can be very effective is to suggest that having a home care agency come in for a few hours a day, will give the rest of the family peace of mind knowing that their loved one is safe. Seniors are often willing to make a change that they feel will benefit others before they would consider their own personal benefit. It is usually a good idea to include a senior in making a selection on what agency to use as well. Including them in the process is empowering. In addition, presenting the idea that home care is a well- deserved luxury rather than a decision that is being forced can make a huge difference in the outcome.The good news is that there are many home care agencies to choose from that help make this all possible. When choosing home care, it is important to look for an agency that will focus on specific needs. Initially, a thorough client assessment should be made by the agency; including notes on specialized care with possible conditions such as dementia, Alzheimer's, stroke and post-surgical care to name a few. Careful thought should be given to arranging a caregiver with the right personality and skill set. Finding a good match will help to ensure success. Last but not least, ask about background checks on caregivers and make sure caregivers are bonded and insured.Often, after a few scheduled visits with a caregiver, the elderly family member will begin to look forward to the regular social interaction. They will find relief in no longer struggling with tasks such as bathing, dressing, incontinence issues and grooming. They will enjoy the new opportunities that come with a companion who can accompany them on walks, help them prepare their favorite meals and assist them in getting to medical appointments and to do errands. The family will have the opportunity to experience joy in their time together rather than dealing with stresses they were previously faced with.Editors note: This article was written by Robin Savoie Zack and Michael Savoie, owners of Executive Care located at 3476 Main Street in Stratford. Executive Care offers affordable hourly and live-in rates. They can be reached at (203)690-1963.

NextFifty Initiative: Foundation Dedicated to Colorados Vulnerable and Under-Served Aging Population Has Been EstablishedThe new foundation is the recipient of the net proceeds of $196 million from the sale of InnovAge to private equity firm, Welsh, Carson, Anderson & Stowe. The conversion of the non-profit InnovAge to a for-profit entity was approved by Colorado Attorney General Cynthia Coffman on March 25, 2016. In addition to the initial net proceeds of the sale, NextFifty Initiative has the potential to receive an additional $8 million earn out in 2018, per the Attorney Generals conversion agreement.We are pleased to announce the formation of NextFifty Initiative, a foundation supporting senior care initiatives and programs for Colorados aging and aging-disabled citizens and their caregivers. This is an exciting development and we are honored to be in a position to help meet some of the needs of this important group of Colorado citizens, said Maureen Hanrahan, interim chair of the NextFifty transition advisory committee. The foundations name, NextFifty Initiative, establishes our intent to be on the forefront of new and expanded services to seniors. We believe that everyones next fifty years of life should be as vibrant as their first.Colorados senior population is expected to increase by 150 percent by 2030. With that statewide need in mind, NextFifty Initiative will work to fund advances and solutions to address the most challenging needs of aging. NextFifty Initiative will be dedicated to the aging community as a whole including the needs of low and moderate income persons and aging individuals with physical, cognitive, and/or behavioral disabilities.Experts on aging are supportive of the formation of this new foundation. In Colorado, we are proud to be among the nations healthiest states, reflecting our population as a whole. However when it comes to our oldest citizens we have considerable room for improvement to preserve this enviable reputation. With its bold agenda, the NextFifty Initiative will help position our state to be able to boast about our commitment to ensuring good health for our older adults, said Eric Coleman, MD, division head of health care policy and research, University of Colorado Anschutz Medical Campus.Eileen Doherty, executive director of the Colorado Gerontological Society, also commented on the new foundation. As people age and live longer, the critical needs of the aging population increases. For example, low-income housing for seniors is in short supply, and will only continue to get smaller, noted Doherty. In order to provide the right housing, support and services for Colorado seniors, and to ensure they have access to the resources they need to live their day to day lives, additional funding is crucial. NextFifty will be an important player on helping to meet the needs of seniors.The foundations first priorities include recruitment of qualified board members representing multiple Colorado constituencies, recruiting and hiring a visionary and experienced CEO, and establishing the necessary operational infrastructure to begin grant making in 2017, according to Hanrahan. Community members interested in getting involved or applying to serve on the board may contact NextFifty Initiative atinfo@next50initiative.org or by visiting next50initiative.org.