In a recent commentary for CNN Politics, Bob Greene wrote a very compelling piece about the economic injustice currently being done to our nation’s senior citizens. In it he observes that the mantra being repeated in the media to keep everyone from jumping off a cliff is to “wait out the storm”. We are reminded of the conventional wisdom that economic busts and booms are cyclical, but that in the long term the stock market will steadily increase in value and after a few years people will recover their losses.
But as readers of this blog know, we have been reminding people that our seniors don’t have that time to wait. Many are in situations where they need the money from their investments or the sale of their home right now to pay for things such as senior housing and care. If that money has evaporated ($11 trillion of wealth in America has disappeared in the last year alone!) what will people do if it is no longer safe or possible for them to live without assistance? The people who built this country, fought its wars, and made our prosperity possible are now the ones left holding the bag.
Mr. Greene is absolutely correct when he says it is unfair to force this generation to sacrifice again– just when they should be able to enjoy a peaceful retirement in safe and nurturing surroundings. Fortunately, there are options that our nation’s seniors and their family can turn too for financial security. There are Funding Solutions that can be accessed to help ease the hardships of this economic calamity. We have been writing about this situation and the potential solutions for a long time. Kiplinger’s Retirement Report (March, 2009) issued an excellent resource analyzing this crisis situation and in it, they discuss Funding Solutions from companies such as Life Care Funding Group (see page 4).