Caring For Older Adults Essay

1874 WordsMar 21, 20168 Pages
Caring for Older adults Corinda Goff HSC/548 March 19, 2016 Instructor - Cynthia Hovland-Scafe Sources of Income Social Security Fund- The US government, offers a statutory requirement that calls for its nationals to remit a certain percentage of their income. Eighty six percent of people age 65 or above receive these funds on a monthly basis. Some people, however, delay this payment to a later date (past 65) to claim a larger share as a monthly check and balance. About ninety-two percent of 80 and above years receive this check regularly with a median of about $15700. Social Security fund as a retirement income is the largest source in the US with a majority of retirees getting half their salary or more. Other retirees of about a third receive, at least, ninety percent of their security check as their income (Cornwell, 2010). Security assets income-This income comes from assets held by individuals with existing benefits plans and seniors bringing more pensions to these assets. These assets are held in treasury bonds, Insurance investment policies, checking accounts, Individual Retirement Accounts and certificates of deposits. About nineteen percent of retirees receive payments for dividend held on shares and other mutual Universal shares. Seniors also get income from investing their pension in real estate and get royalties given to them by their former employers, however, these returns are relatively small ("Income of Aged Improved in 2001", 2003).
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