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 An anonymous donor has made a $10,000 gift to OWL in honor of Betty Perry, who after a long career as an influential teacher began a second career volunteering for OWL in California. Well known both at the California State House and in the halls of Congress, her passing earlier this year was noted on the House floor by Rep. Doris Matsui, who recalled Betty's "extraordinary service and advocacy."
This donor hopes the gift will inspire others to support OWL!
Did you know that ...the recent omnibus tax and spending legislation signed by President Obama allows individuals 70½ or older to make IRA distributions of up to $100,000 annually directly to qualified charities? The donation isn't considered taxable income, but counts toward required IRA minimum withdrawal amounts.
Donors can also maximize their tax benefits when contributing stock to non-profits, since they can write off the gift and avoid capital gains taxes on the stock gains.
As a 501 (c)(3) nonprofit, all contributions to OWL are tax-deductible : )
The Aging in America Conference comes to the nation's capital March 20-24, and with 2016 being an election year, policy and advocacy issues will be at the forefront of the conversation.
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Presidential Candidate Makes Alzheimer's Part of the National Conversation
Two-thirds of the people over age 65 who have Alzheimer's are women, as are a majority of
dementia caregivers. A report by Maria Shriver and the Alzheimer's Association puts th e annual economic impact of the disease at $300 billion in the United States alone. The cost of caring for someone with Alzheimer's is $56,800 a year, the bulk of it borne by individual families. With the baby boomers entering their mid-60s, the number of people with the disease is expected to triple to 16 million by 2050.
Clinton is the first presidential candidate to release a proposal on Alzheimer's disease. As a U.S. Senator, she co-chaired a congressional task force on Alzheimer's.
Expert Says We Need to Think Differently About Aging
Writing for th e Wall Street Journal, she notes that although life expectancy nearly doubled in the 20th century, we tacked all those extra years on at the end. "Instead of thinking imaginatively about this unprecedented opportunity, we tend to wring our hands at the thought of populations top-heavy with the elderly," she writes. "The real problem is that our lives are still led according to the norms and social scripts that guided our grandparents. We humans are creatures of culture, and life expectancy increased too fast for culture to keep pace." She envisions a future in which every aspect of our lives, particularly work, will undergo fundamental change -- spreading those extra years out instead of working for the unattainable of saving for 40 years of retirement.
She concludes by saying that this era affords an opportunity to redesign the way we live, to write a story not about old age, but instead about long life.
Claiming Social Security -- Is Later Always Better?
Although every month that someone delays claiming Social Security means an increase in monthly benefits, most people file early.
According to the Center for Retirement Research, 58% of men and 64% of women who claimed Social Security in 2013 were below their full retirement age; 48% of men and 42% of women filed at 62, the youngest age when claims can be made.
A report from the National Bureau of Economic Research examining early filing found that 31-34% of beneficiaries who claimed early had Individual Retirement Accounts (IRAs) that would fund at least two additional years of Social Security benefits, and 24-26% could have funded at least four years of Social Security deferral. The report found that "early filers have higher subjective and actual mortality rates than those who claim later."
Some investment professionals also advise the spouse with smaller lifetime earnings to start receiving benefitsearly in order to maximize lifetime household benefits.
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"Don't mistake politeness for lack of strength."
Sonia Sotomayer
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What makes OWL unique is our sharp focus. We are the only national organization that works solely on the economic security and quality of life issues impacting women 40+, who account for almost one-quarter of the U.S. population. Our vision is of a society where women are financially secure and able to live long, healthy and independent lives. Nonpartisan, pragmatic and focused on solutions, OWL makes sure the challenges specific to this demographic are heard and understood when policy is being made.
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