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Reuters - Presidential rivals John McCain and Barack Obama, back on the campaign trail after their party conventions, clashed over the ailing U.S. economy on Friday as unemployment hit its highest monthly rate in nearly five years.

Maybe its the thought of mowing the grass, shoveling the snow, or the kitchen faucet that needs to be repaired. The multitude of responsibilities and maintenance involved in keeping up your current home may make the move to an Independent Living Community look very attractive. But is it affordable?

This is a question we hear a lot. In most communities utilities, maintenance, some laundry, and some meals are included in the fee. Use the monthly fee to compare to costs of staying in your current living situation. Remember to include utilities, taxes, insurance, fees paid for the yard work, and maintenance of your home. There should be a staff member available, at the facility you are considering, who can go over financial information with you.

If you are considering moving into a Continuum of Care Retirement Community as opposed to a stand alone Independent Retirement Community, there may be entrance fees or life care contracts to consider. According to the Continuing Care Accreditation Commission, there are three basic types of contract that a resident enters into with a CCRC: extensive, modified, and fee-for-service. An extensive contract offers unlimited long-term nursing care for little or no substantial increase in your usual monthly payments. Entrance fees and monthly costs under extensive contracts are typically higher than those under modified or fee-for-service contracts. That entrance fee may be refundable over time, partially refundable or nonrefundable. You may acquire ownership of your residence within the community, or you may be provide housing on a rental basis.

A modified continuing care contract includes a specified amount of long-term nursing care beyond which you are responsible for payment. Once such specified amount of care is reached, the resident may continue to receive care, but most pay the facility's daily or monthly nursing rate.

A fee-for-service continuing care contract covers the cost of your housing, residential services, and amenities. You pay full daily rates for all long-term nursing care required. Entrance and monthly fees are lower under this type of contract because residents are responsible for all long-term nursing and health care costs.

There are many options available under the general term "CCRC". Your best course of action is to visit several communities and to decide which community offers the best combination of services, amenities and contract options for your or your loved one's particular needs and desires.

Lets look at an example to help illustrate how even someone who didnt THINK they could afford an Independent Retirement Community, really can!

Jane is a healthy 70 year old who wanted to enjoy the rest of her retirement years without the hassle of home maintenance, yard work, and home repairs. Plus, her home was built 40 years ago, and wasnt particularly senior friendly! Doorways were narrow, the laundry room was in the basement, and the stairs to that area were narrow. She didnt want to risk falling.

Jane didnt think she could afford to live in an Independent Retirement Community, but after visiting her friend Marge several times, she knew it was a vibrant and active place that really catered to her lifestyle.

Jane also wanted to leave an inheritance to her children, but didnt have a large 401K or IRA to leave behind, therefore, all she had was the value of her home. She was worried that if she sold her home and moved to an Independent Retirement Community, she would not be able to leave an inheritance. Her children on the other hand, were not worried about receiving an inheritance, they just wanted Jane to live the life that made her happy, safe, and comfortable.

After sitting down with the staff at her local Independent Retirement Community, she understood that not only could she afford to live there, but she would also be able to leave a LARGER inheritance to her children than she ever thought possible.

Heres how it worked for Jane:

Janes Current Assets:

$100,000 - total in checking/savings, CDs, stocks, bonds, mutual funds, IRA and annuities (rainy day money)

$150,000 value of her home

$1400/ month Social Security Income and Pension

Cost to Live in the Independent Retirement Community:

$2300/ month, no entrance fee, just monthly rent
-$1400/month income
= shortfall of $900/month for Jane

Janes Solution:

Jane sold her home for $150,000 and put the proceeds into a lifetime annuity that generated an income of $1,204 per month. (which covers her shortfall of $900 and leaves $300 for other needs)

Jane took her remaining assets (rainy day money) of $100,000 and left $25,000 in checking, but purchased a single premium life insurance policy for $75,000.

That single premium life insurance policy is worth $250,000 TAX FREE to her heirs upon her death.

Plus if she passed away within 10 years, her heirs could also possibly receive the remaining lifetime annuity payout.

Remember this is simply an example and not a guarantee of results. Everyone needs to have their own person financial analysis completed.

Jane can now move into her Independent Retirement Community and live a safe, stress free life. Her children will receive the inheritance she always wanted them to have. Can you afford to live in an Independent Retirement Community? Chances are that with the right financial planning, you can live the retirement you always dreamed of. Contact Valerie VanBooven for more information at valerie@nextgenfinser.com

Valerie VanBooven RN, BSN, PGCM is a long-term care expert, author of "Aging Answers", professional speaker. She is currently the National Director of Marketing and PR for Next Generation Financial Services a division of 1st Mariner Bank.

Valerie can be reached at 877-529-0550 or valerie@nextgenfinser.com

AP - The nation's unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.

You can achieve greater profits in the offshore investment scenario, along with greater privacy, and better asset protection. In the last 10 years alone, the U.S. stock market was outdone by financial markets elsewhere in the world by more than nine times! In 1997, it was ranked at number 4. Germany, France, Australia, and Turkey have all done significantly better than the US in the last few years, giving investors profit margins that were as much as 200% higher than the U.S. market could provide.

Unfortunately, simply buying foreign stocks through a domestic broker provides no privacy and almost no asset protection. Foreign investments made through a financial institution in the US do not provide investment continuity if the US markets shut down. So how does the small investor get access to offshore markets? One option is to buy American Depository Receipts or ADR through a domestic broker, which are a great option for liquid foreign shares. However, this applies only to a handful of foreign shares. The trick is to find a full-service broker who can provide legal strategies to protect your wealth, and lower your taxes. Some banks and investment advisors can guide you regarding the establishment and operation of offshore accounts, trusts, business corporations and foundations.

The first step on the path to the offshore investment world is opening an offshore bank account. The offshore banks would then offer services of a full-service stockbroker, allowing you to buy into any security. The offshore bank purchases the securities in its name, freeing you from SEC regulations regarding limited access. Most offshore banks also provide professional research and buy/sell recommendations and you can issue limit and stop orders regarding your investment.

In recent years, the US dollar has lost a large part of its value against the euro and other world currencies. A handful of investors have made huge profits from the decline of the dollar, through foreign currency investments. It is quite easy for anyone, even you, to purchase foreign currencies through an offshore bank. In the current state of uncertain economic environment, it is sensible, and easy, to diversify your currency holdings internationally through foreign currency CDs. It is also possible to purchase foreign currency CDs domestically, from institutions like Everbank. However, offshore private banks give you the advantage of lower minimums and higher yields.

Offshore Investments remove the need for constant scrutiny of your wealth, investments and spending and other aspects of your financial life, something that happens within the US. The United States does not have a federal statute protecting banks or securities accounts from disclosure. As a consequence, moving your money to an offshore investment makes it invisible to the nosy information brokers and private investigators.

The right offshore investments can also help make you litigation proof. With the popularity of litigation in the US, accumulating wealth has become an invitation to legal predators. In most cases, the protection provided by domestic asset protection laws is a matter of state jurisdiction with variations from state to state. Offshore investments and asset protection programs offer wealth preservation barriers, often with no additional attorney fees.

2008 Anna D. Banks, GCDF

Anna D. Banks, a passionate advocate for baby boomers in exploring their priorities, planning and setting goals for the next stage of their lives. Assisting her clients to attract and build a professional and personal life consistent with their values is not just a goal of Anna's, it's her passion. Her diverse work experience in business, education and financial services enables her to help the diverse population of baby-boomers with their life, career, and personal finance coaching needs. Anna is currently Adjunct Faculty at Essex County College, where she teaches Career Development & Management.

Author's Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Please place a post on http://www.annabanks.com or email your questions to me at Anna@AnnaBanks.com