October 4, 2013

This Guy May Have Solved the Healthcare Model For 1 Billion People

From Forbes.com

BUSINESS | 10/03/2013 @ 1:06AM
This Guy May Have Solved the Healthcare Model For 1 Billion People

Amid the buffoonish Obamacare posturing in Washington, it’s easy to forget that Americans universally, if even through the emergency room, have access to the best medical treatment in the world. If you want to see a real healthcare crisis, then head to the developing world, where 1 billion people don’t have physical access to a hospital, clinic or doctor of any kind. Some 400 million of them live in sub-Saharan Africa. Rural villagers there know that if a child comes down with a fever, the two-day walk for medical treatment can turn a minor ailment  into a death sentence.

In West Africa, Dr. Raj Panjabi is testing something that might solve this problem. His non-profit, Last Mile Health, recognizes that putting a hospital or a doctor into every remote settlement isn’t feasible. But training a local villager to perform basic medical tasks and arming him or her with essential medicines can both save lives and create jobs.

So that’s what Panjabi has been doing in Liberia since 2005. This year, 300 “frontline healthcare workers” from Last Mile Health will treat more than 30,000 Liberians, saving a few hundreds lives in the process.

“If you got sick the city in the city, you had a chance,” says Panjabi. “If you were in a rural area, you died anonymously.”

Panjabi knew this first-hand. Born in Liberia, he watched a brutal Civil War swarm across his country; his father disappeared for a month at one point. “Within a few weeks, we’d lost everything,” he remembers. At age 9, his family jumped on a rescue helicopter, and flew towards a new life. Resettled in North Carolina, he went to Chapel Hill, became a doctor and joined the faculty of  Harvard Medical School – a ticket to a life of fat salaries and high prestige.

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October 3, 2013

How to Find Reliable Income for Retirement

From Fox Business News

How to Find Reliable Income for Retirement

By Casey Dowd | The Boomer | Published October 03, 2013 | FOXBusiness

Saving and investing early is an important component of any retirement strategy, but many baby boomers have found themselves playing a game of catch up, and they have a message to younger generations: learn from our mistakes.

Whether retirement is right around the corner or far off in the horizon, creating and executing a savings plan is crucial. But it’s also important to review a savings strategy periodically to make sure it still fits under your personal financial circumstances and the current economic climate.

ING U.S.’s recent survey, Retirement Income Redefined, highlights some potential discrepancies in retirement planning regulations and practices, and shows how the new economic is fundamentally redefining retirement.

Rich Linton, president of Individual Markets for ING U.S. Retirement Solutions, shared the following points from the company’s recent study and what boomers can learn from it:

Boomer: What new rules have been issued that could change the way we plan for retirement?

Linton: The Labor Department recently issued an advanced notice of proposed rulemaking regarding lifetime income illustrations, which would require retirement plan providers/sponsors to include on participant account statements an estimate of their monthly retirement income – based on both current account balances and expected future balances at normal retirement age.

Boomer: What sacrifices would pre retirees have to give up now to have a financially-secure retirement?

Linton: An overwhelming number of respondents, 80%, acknowledged that they would be willing to give up some of their spending money today in turn for some guaranteed income at a later point in life. This validates the concept that consumers acknowledge the need for and importance of having a secure, reliable income upon retirement.

That security for tomorrow does require a bit of financial sacrifice today. The amount of sacrifice depends on each individual’s unique situation and expectations for their desired retirement lifestyle. To some, it could mean giving up that expensive daily latte for an instant cup at home. For others, it could mean pushing off an expensive vacation for a simple "day-cation" instead.

Every consumer’s situation is different, so it’s important for individuals to understand their unique retirement needs (basic utilities, food, healthcare, etc.); wants (ability to travel, not having to work in retirement, etc.); and wishes (the legacy they want to leave their beneficiaries). Once these points are understood, developing a personalized plan can help better identify the level of sacrifice needed today to reach those objectives and desired level of retirement income tomorrow.

Boomer: What discrepancies in retirement planning did your study find?

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