Latest news with #NCOA
Yahoo
18-05-2025
- General
- Yahoo
SNAP Benefits: How Long Will They Last?
The Supplemental Nutrition Assistance Program (SNAP), also formerly known as food stamps, is a federal program managed by the U.S. Department of Agriculture's Food and Nutrition Service. SNAP is the largest federal nutrition assistance program, but it's operated and administered at the state level, and potentially on the chopping block. Learn More: Read Next: Keep reading for a closer look at how long the average person can expect to receive these benefits. SNAP provides low-income households with monthly benefits that can be used to purchase eligible food items, and are especially crucial as food costs skyrocket. To receive SNAP benefits, you must apply in the state where you live. Eligibility requirements also vary by state, but most require recipients to fall below certain income and asset levels. To apply, contact your state's SNAP agency. You can also fill out an application online or print, mail or fax the SNAP application to your local SNAP office. Benefits are deposited into SNAP accounts, which are linked to EBT cards and can be used at most grocery stores and approved retailers. At checkout, swipe your card at the card reader like you would with a debit or credit card and enter your PIN. Depending on where you live, you may also be able to buy food online at select retailers using your EBT card. For You: Benefit periods for SNAP can range from one month to three years, according to the National Council on Aging (NCOA), depending on your case and your state's specific requirements. Once approved, the Food and Nutrition Service will send you a notice of how long you will receive SNAP benefits. SNAP benefits may also expire if you don't use your EBT card for nine months or longer. To avoid any interruptions in your benefits, the NCOA says you'll need to periodically recertify to prove your eligibility. Josephine Nesbit contributed to the reporting for this article. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? How Far $750K Plus Social Security Goes in Retirement in Every US Region 5 Little-Known Ways to Make Summer Travel More Affordable 7 Things You'll Be Happy You Downsized in Retirement This article originally appeared on SNAP Benefits: How Long Will They Last? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-04-2025
- Business
- Yahoo
3 Retirement Issues That Exist Today but Didn't Exist 20 Years Ago
The oldest baby boomers are turning 80 this year in a country where people are living longer, chronic conditions are becoming more common and retirement seems increasingly out of reach for ordinary seniors — but it wasn't always that way. Be Aware: Try This: Twenty years ago, at the start of the 21st century, the retirement landscape looked much different, largely because of three issues that were out of mind back then but impossible for retirees to ignore in 2025. Fidelity's 2024 Retiree Health Care Cost Estimate report found that today's seniors can expect to spend $165,000 on healthcare and medical costs throughout their retirements — more than double the study's inaugural estimate in 2002. Inflationary pressures make everything more expensive over time — but over the last 20 years, late-life healthcare has been in a class by itself. Wealthtender analyzed historical CPI data to show that healthcare inflation has risen by 3.36% since 2002, compared to 2.53% for overall inflation. That difference might seem negligible for younger adults who spend less, but considering healthcare costs can leap from 15% to 50% of your budget in retirement, what was a costly but largely manageable expense 20 years ago has become a primary nest egg killer today. Consider This: According to the National Council on Aging (NCOA), roughly seven out of 10 people turning 65 today will need some form of long-term care (LTC) in their lifetimes. However, Statista reports that the average annual cost is $26,000 to $127,750, depending on the type of service, which puts LTC out of reach for most ordinary families. Two decades ago, LTC insurance was still widely available — but not anymore. When reporting on the crisis in 2021, CNBC found that insurers had badly mispriced policies in the 1990s and early 2000s, which forced them either to jack up premiums to unaffordable levels or, more commonly, abandon the LTC market altogether. Either way, the result is that today, insurers issue just a 'tiny fraction' of the policies they sold 20 years ago. A 2024 NCOA report found that the COVID-19 pandemic was a watershed moment for financial security among America's retirees. Living on a fixed income was always a challenge, but the COVID-19 crisis forced more retirees to get by with less. In 2020, roughly 50% of adults 60 and older had household incomes below their area's Elder Index, meaning their average income wasn't enough to afford their basic needs. That was a 5% increase over 2018 alone, and the decline in household wealth relative to expenses for seniors has declined even more dramatically when compared to 2016 data — much less data from 20 years ago. More From GOBankingRates 5 Types of Vehicles Retirees Should Stay Away From Buying 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth 4 Things You Should Do if You Want To Retire Early How Much Money Is Needed To Be Considered Middle Class in Every State? Sources Fidelity, 'Fidelity Investments® Releases 2024 Retiree Health Care Cost Estimate as Americans Seek Clarity Around Medicare Selection.' Wealthtender, 'The Cost of Healthcare in Retirement Keeps Rising. These Tips Will Help You Prepare.' CNBC, 'Aging baby boomers raise the risk of a long-term-care crisis in the U.S.' National Council on Aging, 'Increases in Older Americans' Income and Household Assets Still Cannot Support Most During Financial Hardship.' This article originally appeared on 3 Retirement Issues That Exist Today but Didn't Exist 20 Years Ago Sign in to access your portfolio
Yahoo
26-04-2025
- Business
- Yahoo
3 Retirement Issues That Exist Today but Didn't Exist 20 Years Ago
The oldest baby boomers are turning 80 this year in a country where people are living longer, chronic conditions are becoming more common and retirement seems increasingly out of reach for ordinary seniors — but it wasn't always that way. Be Aware: Try This: Twenty years ago, at the start of the 21st century, the retirement landscape looked much different, largely because of three issues that were out of mind back then but impossible for retirees to ignore in 2025. Fidelity's 2024 Retiree Health Care Cost Estimate report found that today's seniors can expect to spend $165,000 on healthcare and medical costs throughout their retirements — more than double the study's inaugural estimate in 2002. Inflationary pressures make everything more expensive over time — but over the last 20 years, late-life healthcare has been in a class by itself. Wealthtender analyzed historical CPI data to show that healthcare inflation has risen by 3.36% since 2002, compared to 2.53% for overall inflation. That difference might seem negligible for younger adults who spend less, but considering healthcare costs can leap from 15% to 50% of your budget in retirement, what was a costly but largely manageable expense 20 years ago has become a primary nest egg killer today. Consider This: According to the National Council on Aging (NCOA), roughly seven out of 10 people turning 65 today will need some form of long-term care (LTC) in their lifetimes. However, Statista reports that the average annual cost is $26,000 to $127,750, depending on the type of service, which puts LTC out of reach for most ordinary families. Two decades ago, LTC insurance was still widely available — but not anymore. When reporting on the crisis in 2021, CNBC found that insurers had badly mispriced policies in the 1990s and early 2000s, which forced them either to jack up premiums to unaffordable levels or, more commonly, abandon the LTC market altogether. Either way, the result is that today, insurers issue just a 'tiny fraction' of the policies they sold 20 years ago. A 2024 NCOA report found that the COVID-19 pandemic was a watershed moment for financial security among America's retirees. Living on a fixed income was always a challenge, but the COVID-19 crisis forced more retirees to get by with less. In 2020, roughly 50% of adults 60 and older had household incomes below their area's Elder Index, meaning their average income wasn't enough to afford their basic needs. That was a 5% increase over 2018 alone, and the decline in household wealth relative to expenses for seniors has declined even more dramatically when compared to 2016 data — much less data from 20 years ago. More From GOBankingRates 5 Types of Vehicles Retirees Should Stay Away From Buying 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth 4 Things You Should Do if You Want To Retire Early How Much Money Is Needed To Be Considered Middle Class in Every State? Sources Fidelity, 'Fidelity Investments® Releases 2024 Retiree Health Care Cost Estimate as Americans Seek Clarity Around Medicare Selection.' Wealthtender, 'The Cost of Healthcare in Retirement Keeps Rising. These Tips Will Help You Prepare.' CNBC, 'Aging baby boomers raise the risk of a long-term-care crisis in the U.S.' National Council on Aging, 'Increases in Older Americans' Income and Household Assets Still Cannot Support Most During Financial Hardship.' This article originally appeared on 3 Retirement Issues That Exist Today but Didn't Exist 20 Years Ago Sign in to access your portfolio
Irish Daily Mirror
25-04-2025
- Health
- Irish Daily Mirror
Reduce high blood pressure with delicious red drink
High blood pressure, also known as the silent killer due to its lack of noticeable symptoms, is a condition that requires regular monitoring. Hypertension, another term for high blood pressure, arises when the force exerted by blood against artery walls becomes too intense, which can occur for a variety of reasons. The damaging effect of hypertension on blood vessels, caused by excessive pressure, can lead to other health complications. Factors such as genetics, age, existing medical conditions and lifestyle choices can all contribute to high blood pressure. However, if left untreated, this condition can result in severe consequences like a stroke or heart attack. While many individuals with this condition require daily medication, research suggests that certain foods and beverages can aid in managing or even preventing high blood pressure. The National Library of Medicine has reported that "pomegranate juice possesses antioxidant, anti-hypertensive and anti-atherosclerotic properties", indicating its potential role in lowering blood pressure. According to a study by the National Library of Medicine: "Pomegranate (Punica granatum L.) is a polyphenol-rich fruit with diverse medicinal properties. Several lines of experimental and clinical evidence have shown that pomegranate intake helps lowering blood pressure (BP) through different mechanisms.", reports Surrey Live. "Findings arising from animal and clinical studies have shown pomegranate juice can reduce BP in both short-term and long-term course. These effects are accompanied by antioxidant and anti-atherosclerotic actions that collectively improve cardiovascular health. The anti-hypertensive effects have been reported for both pomegranate juice and seed oil. Both systolic and diastolic pressures are affected." While more research is needed, it's believed that pomegranates may lower levels of the angiotensin converting enzyme (ACE) in the body - potentially explaining how this fruit or its juice can help manage HBP. ACE plays a crucial role in blood pressure regulation by controlling the size of our blood vessels. However, if you're currently on prescribed medication for HPB, it's advised to consult your doctor before adding pomegranate juice to your diet as it could interact with your meds. The National Council on Aging (NCOA) has also spotlighted the health benefits of pomegranate juice, along with four other drinks that could aid in lowering HBP. According to the NCOA, "some beverages are better than others" when it comes to managing hypertension - and pomegranate juice was highlighted as one of the juices that could yield positive results in reducing HBP. The NCOA website has shared some advice, telling people that "pomegranate is a fruit that contains many nutrients, is high in fibre, full of antioxidants and, like milk, potassium. But let's face it, these bright red beauties are tough to peel, and the juicy seeds can be messy and hard to eat. That makes them an ideal choice for juicing. Not only is pomegranate juice tasty, but drinking it also can lower blood pressure - sometimes quickly." The NCOA has also added "drinking (cloudy) apple juice in moderation provides heart-healthy advantages". It's thanks to being chock-full of "beneficial compounds" including antioxidants and polyphenols that reportedly "help reduce cholesterol and inflammation within the blood vessels". The NCOA article has also highlighted the benefits of beetroot juice too, touting its high vitamin content and describing it as "loaded with nitrates", which apparently "significantly reduce systolic and diastolic blood pressure" – that's according to the research they've dug up. Not forgetting the humble bottle of milk, which purportedly has a "blood pressure lowering effect in middle aged, overweight adults", if the latest research is anything to go by. And hydration's role isn't forgotten either – with the NCOA highlighting that keeping the fluids flowing is key to maintaining steady blood pressure levels.
Yahoo
16-02-2025
- Business
- Yahoo
Here are 5 big things that disappear after you retire in America — are you prepared to lose them all?
Retirement is supposed to be the reward after decades of hard work. Morning alarms, office politics and exhausting commutes … gone. The idea of finally having full control of your time is appealing, and for many, it feels like the finish line to a long race. But while you may gain freedom, you'll also lose more than you think. Some losses, like a steady paycheck, are obvious. Others, like a sense of purpose, sneak up on you. A near-record number of Americans are grappling with $1,000 car payments and many drivers can't keep up. Here are 3 ways to stay ahead 5 ways to boost your net worth now — easily up your money game without altering your day-to-day life Home prices in America could fly through the roof in 2025 — here's the big reason why and how to take full advantage (with as little as $10) Without a plan — or a big enough nest egg — they can leave you feeling unprepared for what comes next. Here are five things that tend to disappear in retirement, and what you can do now to make sure they don't take you by surprise. The most immediate and undeniable change in retirement is the disappearance of a steady paycheck. For decades, your income has arrived like clockwork. In its place are managed withdrawals from retirement accounts, Social Security and any other income sources you've set up along the way. For many retirees, this transition is more jarring than expected. Moving from accumulation to spending can feel unsettling, an anxiety reflected in a recent study by the National Council on Aging (NCOA). The study found that 80% of older adults are either financially struggling or at risk of economic insecurity in retirement. Inflation only makes matters worse, eroding the value of fixed incomes over time. A solid withdrawal strategy, such as the safe withdrawal rate rule – it had been 4% before dropping recently to 3.7% – can help balance spending and preservation. Diversifying income streams with annuities, rental income or part-time work can also ease financial stress. Delaying Social Security until age 70 can increase your benefits significantly, too. Read more: Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead When you're working, taking risks with your investments doesn't feel as scary. If the stock market dips, you know you'll keep contributing to your 401(k) or IRA, and there's time to recover. But retirement changes the stakes. Market downturns impact your portfolio and how much you can safely withdraw each year. When volatility hits, many retirees shift large portions of their savings into cash or ultra-conservative investments. It may feel safe, but it raises the risk of outliving your money. According to MIT Management, such a move is known as the "sequence of returns risk" (SORR). Early withdrawals during a market downturn can deplete a portfolio faster than anticipated, leaving less capital to recover when markets rebound. A balanced strategy is key. Keeping some exposure to stocks ensures that your money continues growing, while holding one to two years' worth of cash reserves can help you weather short-term downturns. Work isn't just about earning money – it provides routine, social interaction and a sense of accomplishment. A study in the National Library of Medicine has linked a lack of purpose in retirement to increased health risks, including depression, cognitive decline and even verbal memory function. The best way to avoid this emotional downturn is to plan beyond just your finances. Volunteering, pursuing passion projects or even taking on part-time work can help fill the void. Losing a paycheck is one thing, but losing employer-sponsored benefits – especially health insurance – can be an even bigger shock. If you retire before 65, you're on your own until Medicare kicks in, and even then, coverage gaps can lead to unexpected expenses. Medicare doesn't cover everything. Dental, vision, hearing aids and long-term care are largely out-of-pocket costs, and those can add up quickly. Long-term care, in particular, is a financial landmine – the median national annual cost of a private room in a nursing home is nearly $117,000. Planning ahead is essential. Some retirees opt for Medicare Advantage or Medigap plans to help cover gaps in coverage. Others set aside funds specifically for medical expenses, such as through a health savings account (HSA). Many retirees ramp up travel, dining out and hobbies, leading to what financial planners call the 'retirement honeymoon' phase. While this initial surge in spending may feel like well-earned freedom, it's important to balance it with long-term needs. Healthcare costs tied to aging tend to rise later in retirement, often leading to financial strain if early spending wasn't kept in check. Tracking expenses and adjusting for different phases of retirement can help ensure financial stability throughout the decades. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Is your savings account struggling to keep up with soaring grocery prices? Here's how 2 minutes can earn you 9X the US national average — with no monthly fees One dozen eggs in America now costs $4.15 — and $14.35 for a pound of sirloin steak. Both record highs. 3 simple ways to protect your wealth in 2025 This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
