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Torrance 9.20.12

Page 6 September 20 , 2012 TORRANCE TRIBUNE Seniors Hearing Aids to Benefit Boomers Staying in Workforce Longer (ARA) - Let’s face it. The Great Recession hearing aids, and the compelling data that strong work ethic and other positive attributes potential, enhance their communication skills, put a kink in many Americans’ retirement illustrate the downside of leaving hearing that older workers tend to possess. improve their professional and interpersonal plans. Combine that financial blow with the loss unaddressed, there’s only one reasonable More and more companies, in fact, engage in relationships, and stave off depression. general uncertainty regarding Medicare and course of action. Maturing workers should be workplace wellness programs to help keep their “I urge anyone planning to stay in the the future cost of private health insurance. getting their hearing checked. And if there is employees in good health. And hearing health workforce longer to take that first, most critical As a result, more boomers are staying in hearing loss, they should discuss with their the workforce longer. In fact, between 2006 hearing healthcare provider whether or not and 2016 the number of older people in the hearing aids could help. workforce is expected to soar, according to the Consider this: More than 34 million U.S. Bureau of Labor Statistics (BLS). Workers Americans suffer from hearing loss - about between the ages of 55 and 64 are expected to 11 percent of the U.S. population - and 60 increase by 36.5 percent; the number of workers percent of them are below retirement age, between 65 and 74 is expected to climb by according to the Better Hearing Institute (www. 83.4 percent, and even the number of workers betterhearing.org). Research shows that the use who are 75 and older is expected to grow by of hearing aids reduces the risk of income loss 84.3 percent. By 2016, the BLS says, workers by 90 to 100 percent for those with milder age 65 and over are expected to make up 6.1 hearing loss, and from 65 to 77 percent for percent of the total labor force - a steep jump those with severe to moderate hearing loss. from their 3.6 percent share in 2006. Those with moderate-to-severe hearing loss So what does this mean for individuals? It who use hearing aids are twice as likely to means people need to do what they can to age be employed as their peers who do not use productively. It means they need to take charge hearing aids. And three out of four hearing of their health - including their hearing health - aid users report improvements in their quality so they can maximize their chances for success of life due to wearing hearing aids. The vast on the job. Along with maintaining a healthy majority of people with hearing loss, in fact, - including hearing checks - is increasingly step to optimizing your hearing health and lifestyle, it’s important that boomers routinely could benefit from hearing aids. included in these programs. enhancing your chances for career success get their hearing checked - and that they address More good news: Today’s employers “Never before has good hearing been so by taking a confidential, online hearing check any hearing loss so it doesn’t undermine their recognize the changing demographics of the important - or so attainable,” says Dr. Sergei at www.hearingcheck.org. It will help you efforts on the job or their quality of life. modern aging workforce and increasingly are Kochkin, Executive Director of the Better determine if you may need a more thorough Gone are the days of ignoring hearing making efforts to hold onto their older workers. Hearing Institute. “When people with even mild hearing test by a hearing health professional,” difficulties. There are no more excuses. And Employers value the experience that mature hearing loss use hearing aids, they improve Kochkin continues. “Your hearing health and given the technological advances of modern employees bring to the job - along with the their job performance, increase their earning continued job success are within your control.” • Finance City from front page Government Proposes Simplified learn at the college level. For that reason, I Services Department announced its work inprojects would impact that part of thecommunity. Most notably the Communityimportant thing we have at El CaminoCollege--there are actual trades you can Mortgage Disclosure Forms support this measure.” refurbishing Colombia, Pueblo and McMaster Councilmember Bill Sutherland asked the parks. McMaster Park is seeing extensive By Jason Alderman they will simplify the language community to consider supporting Measure E work, including an expanded community No doubt many wannabe first- and format and make it easier to amidst an election season replete with bonds center and new basketball courts. Pueblo time homebuyers have been sitting compare different mortgages and and taxes. He also touched on the importance Park is also receiving some much-needed on the sidelines of the volatile more easily understand loan terms, of colleges (especially community colleges) attention, including new restrooms--as the housing market, unsure when or how including interest rates, monthly as the next step after Torrance high schoolers current ones aren’t a permanent solution. to enter the game. If that describes payment amounts, closing costs graduate from the city’s highly praised Public Works announced that the Del Amo you, you’re probably fortunate to and how the loan amount might schools. “There’s lots of taxes and bonds on extension has been opened for traffic, which have missed out on the housing change over time (e.g., with an the ballot of which I think the vast majority is of special importance to North Torrance bubble and lax lending standards adjustable-rate loan). They also of them are going to fail,” said Sutherland. residents since it should reduce traffic on one of a few years ago, when millions highlight features borrowers may “However, this isn’t just a thing that will of the community’s major thoroughfares-- of people took out mortgages they couldn’t want to avoid such as prepayment penalties last two years or five years. The money 190th Street. afford – or understand. and negative amortization. may be spent by then, but these buildings Overall, the Council was pleased with Homeownership is a long-term commitment In the meantime, if you’re considering will be there 25 years from now. The City how its first “on the road” meeting of the filled with expenses (both expected and buying a home, review the proposed forms of Torrance is very educational and we like year turned out. Mayor Frank Scotto thanked unexpected) and responsibilities. The upsides to get an idea of which costs you should be to think that we provide a good education City staff who put in extra work to make the – not to mention the tax advantages – are watching out for. And, even if you’re already for our children. I’d like you all to know meeting a success. While he was doubtful why approximately two-thirds of Americans comparing loans or in escrow, ask your that no matter what our high schools do, that the Council would make another trip to own instead of renting. But homeownership lender to show you where the various costs if our El Caminos, Harbor Citys and other North Torrance during his term as Mayor, is not always right for everyone or at every highlighted in the new forms are located in colleges don’t build and don’t add, it won’t he said he would like to see the practice stage of life. your current disclosure documents – it might do much. There’s going to be lots of issues continue. Furey added that after Scotto leaves Here’s hoping that now, as home prices help avoid costly last-minute surprises. you’re going to vote no on, but I really think the Council, he will bring the group back to have plummeted and loan interest rates are Here are some factors future homebuyers this is one you have to consider.” North Torrance. “I’ll make sure we come at historic lows, you can resist the temptation should keep in mind: Lastly, the Council had representatives back at least at some point in the next four to get in over your head and first bone up Start planning now. It could take years from a number of City departments inform years,” said Furey. • on the many one-time and recurring costs to save enough for a down payment and North Torrance residents about what current involved in owning your own home. closing costs. A good place to start is Know Before Don’t forget ongoing expenses like a You Owe, the financial education initiative monthly mortgage payment, mortgage launched last year by the Consumer Financial insurance, homeowner’s insurance, property Protection Bureau (CFPB) to ensure that taxes, furnishings, maintenance and repairs. people receive concise, easy-to-understand People with poor credit ratings usually either information regarding mortgages, credit cards don’t qualify for loans or pay much higher and student loans, among other major financial interest rates. Work on repairing your credit decisions (www.consumerfinance.gov). at the same time you launch a savings plan. After soliciting input from thousands of If your down payment isn’t at least 20 consumers, lenders, mortgage brokers and percent, you’ll probably be required to buy consumer advocates, the CFPB recently Private Mortgage Insurance (PMI), which developed new prototypes for the federal protects the lender if you default. disclosure forms borrowers receive after For a comprehensive overview of how applying for a mortgage and before closing different types of mortgages work, check out on the loan. Bankrate.com. Also, watch the easy-to-follow “When making what is likely the biggest video explaining mortgages at Practical Money purchase of their life, consumers should be Skills for Life (www.practicalmoneyskills. looking at paperwork that clearly lays out com), a free personal financial management the terms of the deal,” said CFPB Director program run by Visa Inc. Richard Cordray. Jason Alderman directs Visa’s financial The proposed forms combine several education programs.  To Follow Jason different but overlapping documents now Alderman on Twitter: http://www.twitter. required by various federal agencies. But com/PracticalMoney. •


Torrance 9.20.12
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