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Retirement Communities & Senior Housing |
Retirement Living News December 2003 HEADLINES
(Click
on headline to read story) Archive
of Past Issues
New Retirement Communities Federal Income Tax Burden Hits Hardest on Those with High Cost of Living A
new report from the Tax Foundation quantifies how much higher federal
income tax payments are for taxpayers who live where the cost of
living is high, even when they have the same standard of living as
similarly situated taxpayers who live where the cost of living is low. The
authors use this data and Census Bureau data on median incomes for
dual-income couples to calculate the specific income in each surveyed
jurisdiction that is necessary to purchase the national median
standard of living and the federal income tax liability on that
income. To
view a copy of the report in a PDF format, visit:
http://www.taxfoundation.org/sr125.pdf.
It has tables showing the differences in cost of living and
Federal income tax liabilities by nearly 300 Metropolitan Statistical
Areas that include some counties. Builders
Responding to Issues Created by ‘Aging in Place’ Home
builders and remodelers are increasingly responding to the need to
design homes to eliminate potential barriers for residents who decide
to stay in their homes as they get older, according to the National
Association of Home Builders (NAHB). “The
vast majority of people prefer to stay in their existing homes and
neighborhoods as they age, but there are a number who want to move
into a new home or community,” said NAHB President Kent Conine.
“Whatever lifestyle choices they make, all Americans — regardless
of their age — deserve a home that is comfortable and allows them to
maintain their independence and dignity.” According
to the 2003 NAHB Builder, a significant number of builders are already
including aging-in-place features in homes.
Many homes built today — especially in active adult
communities and senior apartments — are designed with the following
features to allow residents to live there longer and to facilitate
daily activities such as bathing, cooking or climbing stairs: *
At least one bedroom and bathroom on the first floor.
More than 80% of the builders who were surveyed include a full bath on
the entry level, while more than half put the master bedroom on the
first floor, allowing residents to adapt the lower floor for possible
one-level living. *
Conveniently located and easy-to-use controls and handles.
More than 80% of builders include lever door handles in new homes.
Many of them also install raised electrical outlets, electrical
switches positioned slightly lower and thermostats with large,
easy-to-read numbers. *
Extra maneuvering space throughout the home. Sixty
percent of the builders who were surveyed include wider doors and
hallways, making the home more accessible to residents of all ages. *
No-step entrances. Sixty percent, if possible, have at
least one entry without steps; this creates easier access for
everyone, regardless of their ability. *
Larger bathrooms with safety features. More than 60% of
builders reported that they were offering bigger bathrooms and
features such as grab bars. Extra space makes maneuvering easier for
people with walkers, crutches and wheelchairs, as well as for
caregivers, while grab bars help prevent falls. *
Improved lighting. Increasing numbers of builders are
including multiple controls to limit the number of trips needed to
turn lights on and off, as well as adjustable controls, or dimmers, to
help prevent glare and ensure proper lighting. Task lighting is
preferred for cooking, reading and shaving, as is softer light for
night trips to the bathroom. The
NAHB Remodelors Council is working to publicize a professional
designation known as the Certified Aging-in-Place Specialist (CAPS).
For more information on CAPS, visit http://www.nahb.org/generic.aspx?sectionID=436&genericContentID=8484 More Gay Retirement Communities on the Horizon It's
estimated there are more than three million lesbian and gay people
over age 60 in the United States. However, only a handful of
retirement communities around the country openly welcome gay seniors.
Right now only three retirement communities in the U.S. cater specifically to lesbian and gay seniors – two in Florida and one in Arizona. While others are in various stages of development, another, high-end option, is about to break ground. By
the end of the year, RainbowVision
Properties in Santa Fe, N.M., will break new ground by being the
first to offer luxury amenities unmatched by any of the other gay
retirement communities. While
Santa Fe may seem like an unlikely gay retirement hotspot, it is
second only to San Francisco in the percentage of households with
same-sex couples, according to the 2000 Census. The $28 million
project will be built on a 12.7-acre site just south of downtown Santa
Fe. It will have 146 units: 40 condo casitas,
80 apartments for independent living and 26 apartments for assisted
living. It
is scheduled to open in 2005. Three
retirement communities that cater specifically to lesbian and gay
seniors now exist. They
include The Palms of Manasota in Palmetto, Fla, The Resort on Carefree
Boulevard in Fort Myers, Fla., and The Pueblo in Apache Junction,
Ariz. In
Hollywood, Calif., plans are underway to build what is being called
the nation’s first housing development for gay, lesbian, bisexual
and transgender (GLBT) seniors. The
$18 million, 103 unit complex is believed to be the first of its kind
to be subsidized by a city. About
30 units will be earmarked for homeless men and women, those at risk
for being homeless and seniors living with HIV or AIDS. The
project is a joint effort of the Gay & Lesbian Elder Housing
Corp., the city of Los Angeles, and St. Louis-based developer
McCormack Baron Salazar. Groundbreaking
is expected in the spring of 2004 and it should open in 2005. Securities Association Warns of Scams Targeting Older Investors The
North American Securities Administrators Association is alerting
seniors to the dangers of investment fraud and urging them to take
control of their finances. The
group, which represents state and provincial securities regulators in
the United States, Canada and Mexico, has announced investor education
programs and a senior investors resource center on its Web site -- http://www.nasaa.org/nasaa/sirc/sirc.asp?nav_id=11 The
regulators “are deeply concerned that a perfect storm for investment
fraud is brewing and our nation’s 35 million seniors are most at
risk,” said Christine Bruenn, the group’s president and Maine’s
securities administrator. Scams
currently in vogue targeting older investors include sales of
unregistered securities, bogus promissory notes and charitable gift
annuities, viatical settlements in which terminally ill people sell
their life insurance policies for upfront cash, and Ponzi schemes that
pay some investors returns with money raised from later investors,
according to the regulator’s group.
Millions
of retired or soon-to-be-retired people are concerned, some even
desperate, about their finances – and are more vulnerable than ever
to investment fraud and abuse, Bruenn said. For
a look at some other scams aimed at seniors, visit:
http://www.seniorcitizens.com/scams/
and http://www.seniorsite.com/scams/ New Book Focuses on Enjoying a Creative Retirement For
those planning their retirement or who are recently retired, The Complete Guide to a Creative Retirement is a useful tool that
should help make the transition from working to a rewarding life in
retirement. It looks at the typical problems faced by retirees, such
as the loss of physical and mental activities, decline in social
interaction and structure that the workplace once provided.
It suggests ways to reinvent yourself and create a new
lifestyle that matches your individual needs. It
is not your typical retirement book.
It does not deal with financial preparation and security.
Instead it helps you understand the changes in your life and gently
coaches you through the steps required to develop a clear, focused
direction in your retirement. Author
Robert Kelley says that to achieve a sense of fulfillment and
enjoyment in retirement, you are going to have to evaluate what you
want, explore possibilities, and take risks. People who approach this
period with forethought, a bit of discipline, and a sense of adventure
can anticipate an enjoyable, memorable, and rewarding retirement. The
main body of the book contains 80 projects and activities to enliven
and enrich your retirement. Each activity is presented in detail with
an explanation of what’s involved, how to get started, and
identifies a number of additional resources (books, tapes, CDs, DVDs,
and web sites) that permit the reader to explore in greater depth.
The
book, priced at $17.95 on Amazon, can be ordered from their site by
clicking |
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