The doom sayers have been saying that now since 1914. No doubt that is true. It will end some year. No one on this Earth knows when, so just enjoy what little time that you have left.

My shtick is "DEPRESSION IS COMING!!". I think I am closer to the truth.

Depression News

The best definition of a financial depression is a period when supply overwhelms demand, resulting in falling prices, unemployment problems, and economic contraction.

Investopedia explains 'Great Depression'

The NYSE crashed on October 24, 1929, a day known as Black Thursday. Thousands of people lost nearly the entire value of their investments, leaving them with next to nothing. The trend continued and the following Tuesday, Black Tuesday, the DJIA dropped 12%, marking the start of the great depression. International trade declined, along with personal income, tax revenues and product prices.

Many economists believed the Great Depression was evidence that capitalism, when left unchecked, is a dangerous ideology.

This caused some nations to change their political structures, such as Germany, who adopted fascism.

Read more:


Indications of a depression will be a 12% drop in the stock market combined with a high rate of inflation. People will be purchasing gold as a hedge against the inflation, so watch the price of gold closely.


"Depression is coming". Half of Europe is mired in a recession with 20+% unemployment and 30+% poverty but keeps limping along from one financial crisis to the next.

The United States is so far in debt that it could not handle a recession, not alone a depression, but again keeps limping along from one financial crisis to the next.

Monday, October 11, 2010

8 October Gold Price Assessment

The price of gold hit $1361 this past week.  An increase of $40.00.  One gold analyst suggested that gold would hit $1400 by the end of October.  At the present rate, gold will hit that by the end of this coming week.

Other Events:

Home Foreclosures:

Bank of America suspended all home foreclosures.  Bank of America now has so many homes in foreclosure its processors can not determine who is making their mortgage payments and who is not.


Unemployment surprisingly continues at only 9.6%.  This despite state and city governments continue to shed personnel to balance budgets.  Cities continue to jettison teachers, police, firemen, and maintenance personnel, but cut no administrative personnel which is where most cuts need to be made.

On the political front:

No one is making any suggestions about resolving our present economic problems.

President Obama's answer to our economic problems is blame the Republicans.

The Democrat answer to our economic problems is blame the Republicans.

What is worse, the Republican answer to our economic problems is blame the Democrats.

No wonder everyone is jumping on the Tea Party bandwagon!

Another big rat jumped from the Obama ship this past week.  At this rate, by the time President Obama comes up for reelection, the only one left of the original Obama administration will be Michelle Obama!

Dollar Strength:

The dollar did strengthen against some currencies, but overall continued its slide against most.  This caused an increase in the price of oil, which eventually will trigger inflation.

Factor in all of the above and it is pretty obvious the price of gold will continue rising.

Factor in the rate of ascent of the price of gold, and it is pretty obvious that gold speculators are creating a bubble that will be pricked by someone.

Look for a market correction around $1550 an ounce.  Remember that the primary cause of the rise in the price of gold has to do with dollar speculation by the overseas central banks.  When those banks stop supporting the price of gold, it will drop one to two hundred dollars an ounce.  This will drive out the gold speculators and the price of gold will continue to ascend more in line with other commodities and natural resources.

As a long term investment, gold will outperform the stock market and other investment vehicles.  Expect the price of gold to hit $3,000 within two years.

Wednesday, October 6, 2010

1 October gold price assessment

The price of gold continued its rise this past week.  Adding another $20.00.  Even the gold bear short sellers are selling out and growing bull horns.  One gold analyst predicted that the price of gold will hit $1400 by the end of October.  It is pretty obvious that the price of gold will be dropping no time soon.

The US economy continues to struggle.  Two more banks failed.

Harrisburg, capital of Pennsylvania, is approaching bankruptcy and is looking to the state itself for help with its budgetary woes.

Most major cities and large states are facing severe budget shortfalls.  One in seven homes is now in foreclosure.  Faced with declining real estate taxes, and declining sales tax revenues, these cities and states are now beginning to look to the federal government for help.

On the federal government side, the US House of Representatives adjourned for the reelection campaign.  With the upcoming holidays and winter, it will be spring before anybody can agree that there is an economic problem that needs to be addressed.

On the executive side of government, senators and congressmen are distancing themselves from the President as his popularity fades.  Aides and advisors to the President are jumping to other jobs while the popularity of the President still has some strength.

Overseas, the currencies of the European Economic Community did strengthen this past week.  This will probably be short lived as the citizens of Ireland, Great Britain, Spain, and Greece, among others, protest the taxes and restrictions placed on them by their budgetary problems.

The dollar continued its slide against most of the major currencies.

Central banks continued buying up gold as it hit the market.

Gold price analysts have now come to accept that $1300 an ounce for gold is not some sort of fragile bubble which might burst momentarily.  They are accepting that $2,000, $3,000, $5,000, even $7,000 an ounce is a possibility.

If the US continues its present rate of spending the dollar will become relatively worthless against other currencies.  This will result in either a formal devaluation of the dollar by the US government, or an informal currency adjustment by other nations.

This devaluation will set off a round of inflation in the United States which will be completely unpredictable in its extent.

Gold price at $2,000, $3,000, $5,000, or $7,000 an ounce becomes a distinctive possibility.  One blogger even suggested $25,000 an ounce.

Buy gold while the price is still cheap!

McDonald's Restaurant fast food VS diet food

When I go to a McDonald's restaurant, I do not order a salad.  If I go to any fast food restaurant such as McDonald's, I do not order a salad.  I order what made that fast food chain famous.  In the case of McDonald's, I order a Big Mac, with all the trimmings, and an order of fries.  Why else would I go to McDonald's?

I do not go to a full service place such as an Applebee's restaurant to order a salad.  I might have a salad with my meal.  I look at the entrees on the menu to see what looks good, and I look at the prices to see what I can afford, but I do not look at the calorie count to see what my diet will allow.  If I am going out to eat then I am going to eat well and enjoy myself, or there is no reason to go.

There are some restaurants that offer "Salad Bar only" dining and have enough items in their salad bar to make a full meal.  The problem with this "Salad Bar only" dining is that it normally costs as much as a good entree which comes with a salad.  Who wants to pay steak price for lettuce?

There is no doubt that certain foods should not be attempted.  Triple cheeseburger with bacon.  Deep fried twinkies.  Batter fried butter.  Double chocolate cake with fudge frosting, ice cream, and whipped cream.  Food items such as these are hard on your arteries, sugar levels, teeth, and many other parts of the body.  You will pay for these items not  just when you purchase them, but many times more in later life.

Fast food restaurants have been trying to raise their incomes by adding non-traditional items to their menu.  Latte, milk shakes, and even ice cream.

Even the fast food pizza places such as Pizza Hut have gotten into this.  Offering such as bread sticks, pasta, chocolate dip, and even ?cookies?.

If these pizza places want to raise their bottom lines, how about offering something more traditional that goes with pizza?  How about a six pack of beer?

In short, if you go eat at a place like a McDonald's restaurant, or an Applebee's restaurant, eat, drink, be merry, and enjoy yourself.

For tomorrow you will pay the credit card and pay with a diet!

Tuesday, September 28, 2010

The High Price of Gold

Items concerning the economy noted this past week.

Home foreclosures at highest level since recession started.

Number of new applicants for unemployment rose.

Unemployment rate not dropping.

More people looking for work.

Credit unions are struggling to stay solvent.  This from restructuring, writing down, or writing off home and consumer loans.

The government is arranging a large financial bailout for credit unions

The US economy is struggling.

The US government seems to have no idea about how to put any direction into the economy.

US debt growing at an alarming rate.

US dollar still dropping against all major currencies.

Gold hit $1,300 an ounce.

Central banks still buying gold even at $1,300 an ounce.

I saw an article from one analyst stating that the price of gold hit $850 in the 1980s before going into decline.  That if that figure was adjusted for inflation, the price of gold would have to hit $3,000 an ounce to be equivalent.  One pundit even suggested that gold will hit $7,000 an ounce.

One thing is obvious.  The price of gold will not be moderating anytime soon.

Crops in Russia and China this past summer were damaged by floods and drought. 

Farmers in America had a good year, but one third of all corn is now being used for ethanol.  Indicating no moderation of prices in the supermarket.

Consumers have reduced debt by one third over the past two years.  They are using debit cards rather than pay the high interest rates.  This will cause the failure of more banks.  Loss of jobs, and more consolidation in the financial industry.  The economy will not be recovering before spring of 2011.

Most people think that the high price of gold is caused by investors and speculators.  Nothing could be farther from the truth.  The high price of gold is being caused by the central banks, dumping their dollars prior to a major devaluation.

By spring of 2011, the price of gold will hit $1,800 an ounce, OR BETTER!

Home Based Employees

It has started.  No more IT Help Desk on Saturdays.  The IT people now have the option of working at home on a company laptop.  I estimate that 40% of the office jobs here in the local area can be done by home based employees.  If direct contact with a product or a customer is not required, then that job can be done by a home based employee.

40% of work being done by home based employees means 40% less office space required.  Also 40% less desks, cabinets, etc. required to be purchased, 40% less office rent, utilities, and upkeep to be paid.  Unfortunately, it also means that 40% fewer engineers, security guards, cleaners, and office support personnel will have to be paid.

What it means to the home based employees is no special office clothes required.  They can work in their pajamas.  It also means no auto required for commuting to work.  No car payment, insurance, gas, or upkeep expenses to be paid.  No outside food expenses either.  And one real biggy, no more childcare expenses.

Over the course of the next 10 - 20 years you will see a large migration of employers to home based employee programs.  It  is not just the office space overhead that the employers will save.  The home based employee will take less wages because he does not have as many expenses.

There are two things which serve as a deterrence to an immediate switch to home based employees.  Bosses and the employees themselves.

Every worker knows the boss who is the attendance taker.  He jumps you if you are a second late reporting to work, or leave a minute early for lunch.  Everybody knows the office ogre.  He exists just to make the lives of his workers miserable.  Every worker knows the micro-manager.  He is always bent over the shoulder of an employee ensuring that the work is being done EXACTLY the way the micro-manager wants.  Absolutely no variation allowed.

Some employees are as bad as their bosses.  Some workers do not have the initiative to even go to the office unless they know that a boss is there checking on them.  Some employees have to be bullied and threatened into doing their work.  Some employees have to have a boss standing over them or they turn out substandard work.  Also some employees have doubts about themselves and require personal encouragement from the boss and coworkers.

The home based employee will be a new breed of worker.  He has to insure that he has all information available with which to do his job.  He must meet all time schedule and suspense dates.  He must ensure that his work is accurate and formatted correctly.  Just as if he was working for himself.  Which, in effect he is.  He is being paid for his results, not for being in the office.

When a company realizes that switching to home based employees will provide it with an edge over its competitors then it will begin a transition into a home based employee program.  Other companies in the same industry will have to make the switch to home based employees to remain competitive.

Don't think it will work?

There are many bright individuals now, champing at the bit, saying, "Let me show you!".

Tuesday, September 21, 2010

No improvement in the United States economy

Items concerning the economy noted this past week.

Housing foreclosures in August rose to the highest level they have been since the current recession started.  Six more banks failed.  With the holidays and winter upcoming, indications are that neither the real estate nor the home construction industry will improve any before spring of 2011.

Gender pay difference.  It was noted that women are now receiving 83% of the pay of a man, up from 76%.  It was noted that there are more men than women looking for work.  What was not noted is that this indicates that employers are jettisoning their higher paid workers.

Consumer price index up in August.  Wage index down.  Indicating that consumers are struggling to make ends meet.

Personal wealth on the decline.  Caused by depreciation in home prices, a stagnant stock market, and interest rates so low that savings don't even come close to keeping up with inflation, even though inflation is low.

Poverty level up to 7% of American households.  The highest level it has been since Lyndon Johnson was in office.

This article should not be construed to be a political statement.  I hate political statements.

Barak Obama ran on a plank of "Change": when he ran for President. 

His supporters must have believed that change was necessary.

After two years, though, the above items indicate that what change that has been made has been unnecessary or completely wrong.

President Barak Obama, if you can read this,


Monday, May 31, 2010

Memorial Day 2010

The Senior Citizen and Memorial Day

Memorial Day is a time to honor and remember our ancestors.

Memorial Day is a time to honor and remember those servicemen who died defending our country as well as those who defended our country and passed on in later life.

Memorial Day is a time to honor and remember those veterans who served in our armed forces and are now alive to explain why it was worthwhile serving.

Last but not least, Memorial Day is a time to honor and salute those servicemen who are now on duty in our armed forces, defending our country, and our ideology of "Freedom for All".

Sherman said, "War is Hell".  Americans have been willing to tackle the horrors of war since they first declared their independence in 1776.

Americans believed in freedom and fought off many attacks upon our home land.  Americans believed in freedom and fought many wars on foreign soil.

We are even now fighting in Afghanistan.  We just surpassed a milestone.  One thousand American servicemen have lost their lives fighting.  This sounds terrible until you remember that over two thousand seven hundred innocent civilians lost their lives in the cowardly attack on the World Trade Center.

We will soon be passing another milestone in Afghanistan.  The war in Afghanistan will become the longest war the United States has had to endure in its history.  The length of this war is testing the resolve of the American people and the American government.  It brings up the question of, "How long should we fight for freedom?".  I am not talking about the freedom of the Afghanis, I am talking about freedom here in America.  To withdraw from Afghanistan is to invite more terror attacks on American soil.

Many Americans think of the war in Afghanistan as being some sort of religious war where it is, "Us against them Islamics".  They wonder why we should be engaged in such a war since we believe in freedom of religion.

The war in Afghanistan is a war on terror, and there should be no mistake about it.

The United States faces three primary foes in Afghanistan.

Al Quaeda - A loose group of terrorists who detest the United States because of our open society and freedoms.

Taliban - A loose group of drug lords who believe in ruling through force and fear.

Islamic radicals - A loose group of Islamic clerics who believe that you should worship the way they tell you or you should die.

The United States should have two main goals in Afghanistan.

1.  Prop up a very weak democratic government.  Until now, Afghanistan has been ruled by dictators or despots, when there was a government.  The United States needs to support the government until it is strong enough to defend itself.

2.  Eradicate the Al Quaeda, Taliban, and Islamic radicals.  As you read this, one or more of these groups is plotting an attack upon the United States.

What does this have to do with you, the Senior Citizen?

Write your Senators.  Write your Representatives.  Write the President.  Tell them you support the troops in Afghanistan.  Tell them you support the war against terror in Afghanistan.  Tell them to vote the funding for the Afghanistan war.  Tell them to give our troops the equipment necessary to conduct their mission!

Tuesday, May 25, 2010

Senior citizens and the world of computers

It is assumed here that if a senior citizen is reading this article, then the senior citizen has computer access.  Even with access, many senior citizens are loathe to use a computer because of vision problems.  Vision problems which are easily corrected now-a-days.

There are magnifying plate glasses which can be placed over a monitor to enlarge screen images.

Perhaps the best solution to the vision problem is buy a larger computer monitor.  The prices of flat screen computer monitors have dropped drastically, and a large monitor can be purchased for $150.  During sale periods, they may go for less than $100.

In this digital age, computer monitors are nothing more than televisions without the channel tuning mechanisms.  Vice versa, many modern digital televisions have a port for input from a computer.  The connectors for data and sound can be purchased at any electronics store.  It should also be noted here, that notebook computers have ports for external monitors.

Now, do you need any better reason for buying that 40" flat screen television?

Tuesday, May 18, 2010

The Senior Citizen and Surveys

You have heard the hype, got it in your SPAM box, in your inbox, and probably even got it from your internet service provider, or email provider.

"Make money taking surveys".

"Work at home taking surveys".

"We want your vote".

"We want your opinion".

Sounds like an ideal job for a Senior Citizen.

Can you really make money?

From those emails that are in your SPAM box you can expect to enter your creditcard number, and then bend over.  The best that you can expect from these is a list of authentic survey companies.

From your internet service, or email provider, your name will be entered into a drawing for a monetary prize.  Many of the surveys are concerning new products, and for those products that you express an interest in, you can expect to receive coupons in the mail.  Many of the surveys are for services concerning such as house remodeling, window replacement, permanent siding.  From the firms that are involved in these services, you can expect telephone calls from "Hard Sell" salesmen.

There are legitimate firms which do pay for taking surveys.  They represent legitimate clients which are interested in polls concerning a variety of products, services, and information.  The problem is the pay itself.  Tenth of a cent for an email survey.  A nickel for an extended online survey.  And the survey companies normally have a high limit of fifty or one hundred dollars before they pay your accumulated earnings.

So you can make money taking surveys.  Just don't expect a lot.  Perhaps you are interested.  Where can you find these legitimate companies?  Search on line.  Remember that if you are required to pay a fee, the firm  is not legitimate.

Tuesday, May 11, 2010

The Senior Citizen and Age Discrimination in Hiring.

Senior Citizens retire, go out and see the world, do all of the things that they could not do when they were working, and then find that something seems to be missing.  There is no sense of satisfaction, no challenge in life.  They have accomplished in life what they wanted.

Depending upon your point of view, our daily rat race will either make an old person of you, or will keep you young.

The adrenaline starts flowing when the alarm goes off in the morning.  Up, shower, shave, brush your teeth, chug-a-lug a cup of coffee, and maybe gulp down a piece of toast.

Fire up the car with a roar, and go heading down the road.  Pedal to the metal, join the other drivers on the race course.  OOPS!  I meant the expressway.  Watch the mirrors to stay ahead of the other drivers.  Watch ahead for policecars.  Watch the traffic for that timid driver that left a little bit of extra space in front that you can slide in at the last minute to make the exit ramp.  It takes a big motor, bigger brakes, cobra-like reflexes, and nerves of steel to make this trip safely.

Even the charioteers of ancient Rome experienced no greater excitement than can be found in our daily commute.

At the office, shoehorn the car between two badly parked cars.  Nobody parks straight anymore.

In the office, start computer, faxes, printers, or any other equipment necessary for the day.  Start the low priority jobs that were left over from the previous day.  Decode memos, email, notes from the boss concerning the day's work.  Half instructions.  Half explanations.  Misspelled words.  Poor grammar.  Get together with your coworkers and figure out how to get yourselves out of the mess that the boss has gotten you in now.

At lunch, wolf down a quick sandwich.  There is always some shopping that HAS to be done.  Back to the office.

More memos, notes, telephone calls, and voicemail messages.  But it is so exhilarating when the last shipment goes out, last page is printed, last matter is settled, just at the stroke of quitting time!

Start the car, again with a roar, and head home.  It is amazing how the trip home takes even less time than the trip to work.

At home, have a bite to eat.  Set down in the easy chair and unwind watching television for a couple of hours.

Set the alarm, and go to bed.  Ready to do it again the next morning.

You can call it work.  You can call it a rut.  You can call it a rat race.  But there is no greater sense of satisfaction than going to sleep at night knowing that you met and conquered all challenges and problems encountered during he day.

And the loose ends?  There is always tomorrow.  After all, what are they going to do?  Fire you?  You will have a satisfactory job before can they find a satisfactory replacement!

What does this have to do with the Senior Citizen re-entering the work force?  Meeting challenges.  Companionship.  Sense of satisfaction.

What does this have to do with discrimination in hiring?  You will find out when you apply in HR.  Averted eyes.  Non-committal answers.  "Hmm".  "We will have to consider.".  Meaning that they want a man half of the age of the Senior Citizen, and half the pay.

The Senior Citizen has all the assets that an employer looks for in an employee.  Stable work history.  Education.  Experience.  Common sense.  Solid decision making ability.  All the qualities that it should take to get on the short list for employment.

Why, then, is the application of the Senior Citizen ignored?  That is the discrimination that takes place.  Fear as much as anything.  Fear of turning that white maned lion loose among a flock of sheep.  Any organization wants to maintain status quo in so far as their internal politics go.  Any person that a boss hires is expected to fit in a certain niche and follow orders unerringly.

All of those good qualities that a Senior Citizen possesses are danger signals to a boss.  Stable work history indicates that the Senior Citizen is a veteran of workplace politics.  Education, experience, solid judgment, indicates that the Senior Citizen might be able to take over that niche, which is not what the Senior Citizen was hired for.  The Senior Citizen might even represent a danger to the boss's position.

How does the Senior Citizen negate these problems?  Apply for a lower position than you would normally hold.  Downplay the titles of positions previously held.  On the application, only list that education and experience that is necessary to secure the position you are applying for.

One of the most important things is:  Act Dumb!  Only show the intelligence and experience that is necessary to secure the position that you are applying for.  You have to make the HR personnel and all interviewers believe that you will be a good fit with their employees.  All new personnel in an organization are expected to start at the bottom rung of the corporate ladder.  And that includes you, the Senior Citizen.

Good Luck!

Tuesday, May 4, 2010

When does a Senior Citizen become a “Senior Citizen”?

65?  60?  55?  50?  The answer is, it varies by where you are and who you are talking to.  Some places consider that any person fifty years of age or older is a Senior Citizen.  It could best be summed up by a restaurateur who said that if a person is nervy enough to ask for a Senior Citizen discount, Give it to him!

It is the responsibility of the Senior Citizen to ask for the discount.  Most establishments are considering their bottom line and will not offer a discount unless asked.  Restaurants are an exception to this and if you look old enough to be a Senior Citizen, many will routinely apply the discount without being asked. 

Senior Citizens should routinely ask for the discount when making purchases.  If you are told that no discount is offered, please make the purchase.  But make a note of the price, and the next time shop at a competitor, compare prices and ask before purchasing if there is a Senior Citizen discount.  Be prepared to walk out of the store.  In many cases, stores without a discount have better prices than those with discounts.

At present, there are over a hundred million Senior Citizens in America and this amount is growing every year.  Many firms realize this and have changed their marketing techniques to attract Senior Citizens.

Many firms still think of Senior Citizens as being Grandpa and Grandma on fixed income with no money for purchases.  The smart firms realize that Grandpa and Grandma on fixed income still have more disposable income than that young couple with a house payment, one or two car payments, credit card debt, and a couple, three children to raise.

So, if you are fifty years or older, don’t be afraid to ask for that “Senior Citizen” discount.  You are eligible for it unless told otherwise.

Tuesday, April 27, 2010

Senior-Sizing a Home

Senior-Sizing a Home

What is meant by Senior-Sizing?

In a nutshell, Senior-Sizing means converting and repairing a home to where it is low maintenance and safe for occupancy by a senior citizen.

According to the Association for Advancement of Retired People (AARP), 89% of people 50 years and over wish to remain in their own homes indefinitely.

Some conversions and repairs that Senior citizens should consider:

Exterior Items:

Install permanent siding - Steel or plastic siding which requires no painting.

Install gutters with leaf caps.

Cut down, top, or cut back any large trees.

Remove or cutback any shrubbery that is near the walkways.

Mend or replace any fencing.

Install simple drop latches on gates.

Consider a professional lawn service for mowing the lawn.  In addition to mowing grass, many lawn services offer snow removal during the winter.

Inspect and repair/replace any wooden decks.  Particularly the undersides of the decks.  Decks with concealed undersides receive no maintenance there, and often have hidden defects such as cracked boards, dryrot, and termite damage.

Inspect any entrance stoop.  Repair any broken cracked stairs.  Ensure handrails are solid.  Install non-skid surface where possible.

Install garage door opener.

Replace entrance door knobs with a lever type of handle which can be easily gripped.

Install motion detection sensors on all external lights and in the garage.

Interior Items:

Eliminate clutter - Any item which is not being used on a regular basis should be placed in storage, a back room, basement anywhere out of the way.  This includes cabinets, tables and chairs, pots and pans, dishes.  Ample walk room should be allowed.  Nothing should be stacked in such a manner that it might fall.

Convert all ceiling lights to wall lighting, or to chandelier drop type of lighting.  The bulbs should be changeable by going no higher than the second step of a low step ladder.  Many hardware stores also sell a mechanism with an extended handle by which bulbs may be replaced while standing on the floor.  Ensure that all rooms are well lit.

In the kitchen, make sure floor surface is non-skid.   Many kitchen floor surfaces are non-skid when they are dry, but become very slippery when water or grease is dropped on them.  Replace if necessary.

Also in the kitchen, replace the two handled sink faucet with a single handle fixture.

Although it is expensive, there is a range hood sold which contains an automatic fire suppressant system.  This should be considered as a matter of safety.

Convert knob type kitchen cabinet and drawer openers to lever type handles for easier gripping.

Check department stores and hardware stores for slide out type of inserts to make the interiors of kitchen cabinets easily accessible.

Clear clutter off the top of counters to make clear access to items such as coffeepots, toasters, etc.

In the bathroom, replace faucets with single handled lever fixtures.

Install handrails on shower/tub walls and at the commode.

In the rest of the house, remove any small area rugs or throw rugs.  Remove tripping hazards.

Install handrails in hallways.

Insure that stairwells have handrails on both side of the steps.

Buy a cellphone or a battery charged portable telephone that the senior citizen can carry through the house.

The above is not an all encompassing list.  It is rather a guide.  Inspect the whole house for safety and ease of access.

Tuesday, April 6, 2010

Do senior citizens need a will?

If a senior citizen has multiple children by multiple wives or a large estate, then the answer is yes. For these circumstances a formal will is an absolute must.

In the case of smaller estates. Smaller estate being house, smaller amounts in checking, savings, retirement accounts. Most states recognize the rights of the surviving spouse to the estate. Even so, accounts may be frozen, and transfer delayed while the estate is being probated in court.

A simple letter written, signed, and dated by you, the senior citizen, leaving everything to your spouse is better than nothing.

Even better if the letter is notarized by a public official.

Even better, there are offices which specialize in legal forms. No legal advice may be given there. Fill out the forms and have them notarized.

Even better, look in the phone book and newspaper. There are lawyers which will draw up wills for simple estates for real reaonable prices.

Remember that the will is not for you, the senior citizen. You will be gone! The purpose of the will is to protect the surviving spouse.

Remember also that each spouse should have a will drawn.