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Mature Focus: News and Notes

fairwindsFine food at Fairwinds

Fairwinds River’s Edge Retirement Community was honored for having the best food at the St. Charles County Association of REALTORS’ Annual Golf Tournament held on May 6.
A sponsor of the annual event, Fairwinds received a trophy for its pickled shrimp, BBQ pork wings, and sweet and sour stuffed chicken skewers.
The retirement community is located at 600 River’s Edge Drive in St. Charles.


Retirement readiness

A PNC Financial Services Group survey assessing U.S. adults’ retirement preparedness revealed some measurable differences between members of Generation X and baby boomers.

A survey conducted in February of more than 1,000 adults who had at least $50,000 in assets to invest found that Generation X adults (ages 35-49) expect they will need about $1.5 million for retirement. Baby boomers (ages 50-68) reported thinking they will need about $1.3 million to fund their retirement years, despite the fact that 74 percent of them have not yet accumulated $1 million.

More than seven in 10 of survey respondents said the Great Recession caused them to change their financial behavior, with about half of Generation X respondents reporting setting aside more for retirement, compared to 37 percent of baby boomers.

“One outcome of the Great Recession is that we are seeing meaningful changes in financial behavior in 71 percent of all survey respondents, especially among Generation X,” said Celandra Deane-Bess, wealth planner for PNC Wealth Management. “One of the most challenging tasks is changing habits, particularly in managing spending and debt and increasing savings and seeking advice.”

Generation X respondents reported more concern about outliving their nest eggs, with 73 percent saying they agreed with the statement: “I worry that my savings may not hold out for as long as I live,” compared to 55 percent of baby boomers.

The survey found also that:

• Nearly all respondents said they were counting on Social Security, with 94 percent of those surveyed expressing agreement with the statement: “I have earned my Social Security through paying Social Security taxes and therefore it is owed to me.”

• The cost of healthcare was cited as the No. 1 concern of the majority of respondents (89 percent of Generation X members and 83 percent of baby boomers).

• The average expected retirement age reported by those in Generation X was 63.3 years, compared to 65.5 for baby boomers.

• Among respondents participating in an employee 401(k) program, 70 percent said they were offered an employer match, and 90 percent said that match was an important component of their overall retirement savings.


Snoring and the brain

A study published in the online issue of Neurology suggests that heavy snoring and sleep apnea may be linked to declines in memory and thinking at a younger age.

At the NYU Langone Medical Center in New York, Dr. Ricardo Osorio examined medical histories of nearly 2,500 adults aged 55-90 and found that among those who developed mild cognitive impairment (MCI) or Alzheimer’s disease, those with breathing problems during sleep were diagnosed with thinking problems at a significantly younger age than those without sleep breathing problems.

Specifically, Osorio found that MCI developed at an average age of 77 for those with sleep breathing difficulties and at an average age of 90 for those without breathing problems. Alzheimer’s disease was diagnosed at an average age of 83 for those with breathing issues vs. 88 for those without them.

People who used a continuous positive airway pressure (CPAP) machine to treat breathing during sleep were diagnosed with MCI about 10 years later than those with untreated breathing problems.

“The age of onset of MCI for people whose breathing problems were treated was almost identical to that of people who did not have any breathing problems at all,” Osorio said. “Given that so many older adults have sleep breathing problems, these results are exciting. We need to examine whether using CPAP could possibly help prevent or delay memory or thinking problems.”

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