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55 & UpSides #0007: 🛡️Be social | Avoid losing SS | Today’s poll

55 & UpSides #0007: 🛡️Be social | Avoid losing SS | Today’s poll

Ronnie Mac James
November 18th, 2024

First time reading? Get your free subscription here. This newsletter’s goal is the extinction of information overload for folks like me who are aged 55 & up. Easily unsubscribe below if you got here by some freak interwebs mishap.

Morning 55&UpSiders,

Here’s what I’m covering for you today in a flash…

Quick visual breakdown on social connections & your health
Curated topics affecting us & Good News stories
Feature Story: Avoid Losing Your Social Security Benefits
Today’s Poll
Face The Facts (& do something about ’em)
Hidden alternative solutions for our 55+ crowd
☕Find spelling error in this email & win Dunkin’ gift card code

Why Be More Social?

See benefits below. The key is to not wait until “someday” to socialize.

The Power of Social Connections in Retirement

Need proof that NOT being social can wreck our health? See this crazy fact.

Curated Countdown

🕙  Travel Hacking’s Harder Now But This #1 Point Still Applies

🕘  Caregivers Need Care Too

🕗  Do Your State Parks Offer These All-Terrain Wheelchairs For Outdoor Adventure?

🕖  Cat Gang Saves Family From Deadly Cobra

🕕  Our Skeletons Need Better Nutrition (New Study)

🕔  Suckerpunch Stress! How To Not Obsess Over Finances

🕓  6-Step Deep Dive On Hiring In-Home Senior Care

🕒  Updated Science On Runner’s Knee

🕑  Read This Before You Buy Mutual Funds From A Bank

🕐  Ridiculous Quick Fix For Stress (But It Works)

Feature Story

Avoid Losing Your Social Security Benefits

70 million+ Americans get Social Security benefits. But certain things can derail these vital payments many seniors depend on for retirement.

The problem is...

Many recipients jeopardize their benefits by:
Earning too much income while collecting early benefits
Not understanding resource limits for SSI
Missing reporting deadlines
Being unaware of marriage / divorce impact
Exceeding income limits

Why solving this problem's so dang tough

Complex rules & regulations
Income limits change yearly
Multiple benefit types have different rules
Life changes can affect benefits unexpectedly
Gov't info is hard to read & overwhelming

7 organizations that can help you

How you can get involved to help

Attend Social Security workshops
Join advocacy groups
Report suspected fraud & errors
Help relatives & neighbors understand their benefits

Roadblocks

Complex application processes
Long wait times for assistance
Hard-to-understand benefit calculations
Limited in-person help
Changing regulations

Upsides & ways to beat roadblocks

Online account management available
Free 3rd-party benefit calculators
Appeal rights for denied claims (see process)
Multiple communication channels
Local organizations can assist you

5 takeaways

Monitor earnings if collecting early benefits
Report life changes quick
Understand marriage / divorce impacts
Keep track of resource limits
Review benefits annually

News stories that relate

Social Security benefits are likely to drop by 17% in 2035 unless Congress fixes funding
What it’s like to retire with only Social Security as income

Did you watch the 'Golden Bachelorette' TV show? (I won’t judge🙂)

Face The Facts (then punch ’em in the nose)

Know the facts so you can overcome or take advantage of them.

5)  Mishandled airline luggage is surprisingly low (0.64%), but wheelchairs & scooters get damaged, lost, or delayed 2x as much

4)  About 2% of adults 60 & older are unbanked — have no checking or savings account

3)  Poverty rate for seniors dropped from 30% in 1966 to about 10% today

2)  Weight training can enhance balance (reducing fall risks) & improve glucose control

1)  Most U.S. millionaires are 60-79 years old

👊Let’s punch weakened muscles in the nose.

Using weight lifting for health benefits:

Consult with healthcare provider before starting with weights
Consult with physical therapist or certified trainer
Start slow, build up gradually
Light weights with more repetitions can make longer, leaner muscles
Focus on proper form
Do full-body routines (not just individual muscles)

Alternative Solutions You May’ve Never Heard Of

Hard to find anyone with anything good to say about their health insurance. That’s why new options are popping up - see below.

Primary Care Memberships
• Users pay flat monthly fee forr access to primary care
• Covers unlimited doctor visit, blood tests, & basic care with no co-pay
• Doesn’t cover surgery, hospitalization, or specialists

Cost-Sharing Programs
• Users pay monthly fees similar to insurance premiums
• Members pool resources to share each other's medical costs
• May negotiate discounts with healthcare providers
• Some programs are faith-based or have lifestyle requirements

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🆓Contest: Find the typo in today’s newsletter. Reply to this email with the error. I’ll pick a winner from the replies. Prize: free Dunkin Donuts gift code!🍩

The upside’s always worth looking for,
Ronnie Mac James

P.S. Check out this ancient tractor my dad used on his garden.

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