AARP Research Study Explores Why People Are Happy

Published September 14, 2012, Pawtucket Times

           “Good conversation, meeting new people while traveling, and being in good health” brings much happiness to long-time Pawtucket resident Jean Babiec.  The former Providence school teacher, in her eighth decade, added she would be ‘extremely happy’ if the Rhode Island General Assembly passed legislation, signed by Governor Lincoln Chafee, to create a Pawtucket Red Sox vanity license plate.

           At-Large Pawtucket City Councilor, Lorenzo C. Tetreault, 65, is “the happiest when he can help others.”  The retired Pawtucket teacher is also happy when he holds his one-year old twin grandsons from Narragansett, Samuel and Benjamin, in his arms.

           Former Pawtucket Tax Assessor, Dave Quinn, 64, who now oversees the Tax Office in the City of Providence, finds happiness “knowing that his family is healthy and his children are doing well.”  The Seekonk resident also feels happy by being intellectually challenged by his job.

           Babiec, Tetreault and Quinn’s statements on what makes them happy are reflected by others documented in a recently released AARP study on what happiness means to aging baby boomers.  The findings of this report indicate that relationships and being in control of your health and life are key factors in bringing happiness into your life.  

Defining Happiness

            The new AARP study, titled “Beyond Happiness: Thriving,” found that most Americans age 35 and over are happy, but compared to historical General Social Survey (GSS) data, levels of happiness are on the decline and at their lowest levels (due in part to the nation’s economic downturn).  In an effort to explore what happiness means to aging baby boomers and what it takes to thrive as they age, over 4,000 adults age 35 and over were surveyed to determine what makes them happy.   

             “We’re always looking to get a more robust understanding of the contributors and barriers to happiness in people’s lives,” said Steve Cone, Executive Vice President of Integrated Value Strategy, AARP. “Building on previous AARP research, which shows the importance of happiness and peace of mind to aging baby boomers, these new results affirm that we are on the right track—advocating to ensure basic health and financial security and making available everyday discounts that let people enjoy time with family and friends.”  

             According to researchers, the findings of this study reveal the existence of a U-shape curve of happiness by age. The early 50s is the lowest point from which happiness builds. Thus, if you missed happiness in your 30’s, there is still another chance to achieve it in your 60’s.

             The Researchers note that as people age and eventually retire, they can devote more time to building relationships and just enjoying simple everyday pleasures.  Younger people are still working hard to solidify their accomplishments.

           The AARP study’s results also provide four key insights around the drivers of happiness.

The Happiness Spectrum

            Overall, the strong majority (68%) of respondents say they are happy, although intensity of happiness is somewhat tempered as the largest percent report being somewhat happy (49%) versus very happy (19%). Almost half of those surveyed feel they are just as happy as others (49%) and the rest tend to believe that they are happier than others (31%) as opposed to less happy than others (13%). Part of this may be attributed to the perceptions of people being the masters of their own happiness destiny.

            More interesting, the respondents were concern for the happiness of the next generation. Less than half feel they will be as happy or more (45%). Most are either not sure (19%) or believe they will be less happy (35%).

Relationships Key to Happiness 

           The AARP survey findings also indicate that regardless of your age, good relationships with friends, family, and even pets, were found to be universally important. Activities associated with those relationships contributed most to a person’s happiness. The most significant activity was kissing or hugging someone you love.  Other activities included: watching your children grandchildren or close relative succeed; being told you are a person who can be trusted or relied upon; spending time with your family or friends such as a meal or social gathering; and finally, experiencing a special moment with a child. 

            Researchers say that relationships with family pets were especially important to women, singles and older individuals.  However, relationships did have to be real: “connecting with friends or family on a social media site like Facebook” came in 37th out of 38 activities in contributing to happiness. Importantly, none of the top contributors require a lot of money to achieve; they are “simple pleasures” that can be had by all.

 Good Health Linked to Happiness 

          Without good health, it is far more difficult to achieve happiness: people in “good or excellent” health are three times more likely to report being “very” happy, the researchers say.  However, one’s health may be more a state of mind than objective reality.  The findings noted that the percentage of those reporting good health is relatively stable over the ages 35 to 80, varying only seven percentage points, even as reported chronic or serious medical conditions increase 400% in the same age range. 

Calling the Shots, Brings Happiness

          The majority of those surveyed feel they have control over their personal level of happiness. Interestingly, this sense of control increases with age. Moreover, people who feel in control are clearly happier—reporting that they are 2.5 times happier than those who believe happiness is out of their control. The study’s findings indicate that a sense of control is linked to higher income, higher education, good health and the lack of having experienced a major life event in the past year.

Money Does Not Always Guarantee Happiness

            While many will say having money can bring happiness, this research study showed that it seems that how one spends it seems to matter more.  Happiness increases with income and conversely, lack of financial resources was tied to unhappiness. While less than a third of participants said money contributed to happiness, when asked how they would spend $100 on something to increase happiness, most respondents said they would spend it on their family or going out to dinner. Money is only a resource, that when applied to meaningful areas of one’s life, can provide experiences that can increase happiness.

         Herb Weiss is a Pawtucket-based freelance writer who covers aging, health care and medical issues.  He can be reached at hweissri@aol.com.

GOP Vice Presidential Candidate Shifts Debate on Medicare, Medicaid

August 17, 2012 

            With election day just a little over three month away the GOP’s presumptive presidential nominee, Mitt Romney, got temporarily knocked off message with his selection of Rep. Paul D. Ryan (R-Wisconsin) as his vice presidential running mate.   Before his pick, Romney went after the sitting Democratic President with charges that he failed to bring the nation out of the greatest economic crisis since the great Depression.  President had not brought employment to the millions of America’s unemployed.

            With Ryan on board the debate now has shifted to how his Budget plan (passed twice in the Republican controlled House) would reconfigure the 77 year old Social Security program along with Medicare and Medicaid.  Democrats expressed glee with Obama’s economic performance now being taken off the front page of nation’s

             Newspapers to focus on Medicare and Medicaid.  GOP strategists are working hard to figure out ways to bring a calm to swing states, like Florida, with a large number of voter baby boomers and senior, who vote.

            Democratic critics are zeroing in on Ryan’s Medicare plan, one that would eliminate the current system where every beneficiary would get the same set of benefits, paid by collected taxes, to one that would give each person a fixed amount of money.

             Ryan’s plan would allow those age 54 or younger who retire to be given the government payment to be used to either purchase insurance from the private sector from an approved list or from a government-run program similar to Medicare. People would pay more out-of-pocket if they wanted to purchase a more comprehensive health plan.  The federal government would regulate the participating private insurance industry, also providing more financial assistance to poor and sick.  The program’s eligibility age would increase from 65 to 67 by 2034.

             Finally, Ryan would put the nation’s Medicaid program, that provides health care to the poor and disabled, on the chopping block.  Under Ryan’s plan, funding would be cut by a third and the remaining federal funds would be funneled to the states as a block grant to be used at the state’s discretion.

 Attack Internet Video Highlights GOP Proposed Medicare Cuts

             The Obama campaign moved swiftly to capitalize on the uproar over Ryan’s controversial budget plan of fixing Medicare and Medicaid.  At the beginning of this week the campaign released a new Internet video accusing GOP’s Romney and Ryan of seeking to destroy the nation’s Medicare and Medicaid programs.

             This recently released campaign video, entitled “What do Floridians think about the Romney-Ryan plan to end Medicare as we know it,” ties Romney firmly to his vice president’s prescription of reforming two of the nation’s domestic policy programs, a plan that has recently become a lightening rod, attracting political controversy.  

            To date over 76,479 viewers have watched the Obama campaign video on YouTube, attack the GOP Presidential contender and his running mate. Throughout the one :minute and 42 second video, five older Floridian residents expressed their concerns about the Romny/Ryan’s politically-charged proposal to make draconian cuts to Medicare.

           “It doesn’t make sense to cut Medicare,” says one older woman, who then says, “If we cut it now, what’s going to happen to our middle class?”  Another woman chimes in, “Medicare is a boom for senior citizens who without that would choose between food and going to a doctor.” 

             Not a bad internet video to put a negative spin on Romney and Ryan in Florida, a key swing state where the Republican candidate will shortly visit and the site for the 2012 Republican National Convention in Tampa, Florida, on August 27, 2012.   

             Republicans are attempting to soften negative attacks being lobbed at the Romney camp by attacking President Obama on his huge cuts to Medicare, amounting to $716 billion, that included in his enacted 2010 Affordable Care Act.  They allege that the President used the cut funds from Medicare to finance his health care reform package.  Democrats have pointed out the hypocrisy of this political charge by noting that Ryan had included $700 billion in Medicare cuts in his own budget plan, many of which can be found in Obamacare, the President’s landmark legislation reforming the nation’s health care system.  

 Romney Distances Himself from Partner’s Medicare Budget Fixes

             Two days ago, Mitt Romney, appearing on “CBS This Morning, Romney moved to separate himself from Ryan’s controversially-charged reforms to completely overhaul  Medicare and Medicaid by saying that “Congressman Ryan has joined my campaign, and his campaign is my campaign now, ” noting that “We’re exactly on the same page.”

             At the Wednesday CBS News interview, when Romney was asked about Ryan’s proposed Medicare cuts, he suggested that the Wisconsin Republican Congressman would support his plan which would not include huge Medicare cuts.  “The president’s cuts of $716 billion to Medicare, those cuts are going to be restored if I become president and Paul Ryan becomes vice president,” pledged the GOP Presidential Candidate, in his first solo interview on “CBS This Morning,” since he selected Ryan as his vice presidential running mate.

             “My commitment is, if I become president, I’m going to restore that $716 billion to the Medicare trust fund so that current seniors can know that trust fund is not being raided and we’re going to make sure – and get Medicare on track to be solvent long-term on a permanent basis,” added Romney.

 Domestic Programs Touching Everyone’s Life

                  “With fewer jobs offering pensions and people struggling to save for retirement, Social Security will be even more important for younger generations,” notes AARP President Rob Romasco, noting that more than one in three working households age 21 to 64 has no individual savings set aside for retirement.  His comment was released last with the polling findings from a 2012 Voter Survey.

             Among the findings, 59 percent of Americans polled fear that the negative effects of the economic downturn on their retirement savings will force them to rely more heavily on Social Security and Medicare — programs they are concerned that elected officials aren’t doing enough to protect. 

           The AARP survey of voters age 50 plus also found that six in ten plan to rely on Social Security and Medicare even more due to the recent economic downturn. The same survey found that the respondents’ top financial worry is prices rising faster than their income, and the overwhelming majority (91 percent) agree that the next President and Congress need to strengthen Social Security so that it is able to provide retirement security for future generations

         “Last year, while politicians in Washington discussed changes like reducing the COLA as part of a backroom budget deal, AARP fought to protect Social Security. One thing we’ve heard consistently from our members and all older Americans is that keeping up with inflation is one of Social Security’s most important features,” he continued.

            “It’s these voices – the voices of Americans who have paid into the program – that politicians should be listening to when they consider its future,” says AARP CEO A. Barry Rand, noting that his aging group has launched “You’ve Earned a Say,” an initiative (www.earnedasay.org) to ensure that voters have factual information about the Social Security, Medicare and Medicaid policy debates inside the Washington Beltway, and platform to speak out about how any proposed changes would effect them personally.

            Romney’s selection of Ryan as his vice-presidential running mate has now put Social Security, Medicare and Medicaid on the voter’s radar screen.  

             Now is the time for aging baby boomer and senior voters to send a blunt message to the sitting President, his opponents Romney and Ryan, especially those Congressional candidates that you will meet at public events in the OceanState, or even at your door step when they come to personally ask for your vote. That is, political gridlock is no longer acceptable to you and that the nation’s domestic policy issues must be solved through bipartisan efforts.”

             Meaningful legislative fixes, often derailed by “no-compromise” lawmakers should not longer be sent to Capitol Hill.      

             A Final Note…End the nastiness of this political campaign by educating yourself about the issues.  AARP’s “You’ve Earned a Say” will be in evidence McCoy Stadium Sunday (Aug. 19th) when the PawSox play Buffalo in a 1:05 p.m. game. Following the game, the aging group will have a booth as part of the PawSox Fan Appreciation Day. People attending the event can fill out a “You’ve Earned a Say” questionnaire that measures their opinions and concerns on the future of Medicare and Social Security.

             Herb Weiss is a Pawtucket-based freelance writer who covers aging, health care and medical issues.  He can be reached at hweissri@aol.com.

Financially Surviving Your Retirement Years

            Published August 10, 2012, Pawtucket Times

             Moving into their mid-fifties and sixty’s a growing number of Baby boomers wonder if Social Security benefits in their retirement year’s will even pay the bills.  Will they be able to survive in their “golden years”? 

             Federal officials say that there may be cause for alarm. 

             At the end of April, the released 242 page Social Security Trustee’s report, picked up by the nation’s media, gave bleak but “advanced” warning to future retirees that the Social Security program can pay full benefits until 2033, however, warning that probably only three-quarters of promised benefits could be paid out beyond that time.

             So it is not so surprising that the Associated Press (AP), a media cooperative owned by its contributing newspapers, radio, and televisions in the United States, announced last week that the news agency will publish a four part series, to be released over four Sundays in August, examining the long-term financial viability of the nation’s Social Security program.  The series plans to also take a look at policy proposals that will be debated during the upcoming election by Presidential and Congressional candidates, that might strengthen, the nation’s primary retirement program.

             AP recognized that Social Security, a very politically-charged issue, is a topic that must be discussed meaningfully in the upcoming November election.  Because of this AP has chosen to bring substantive coverage of this important policy issue to the upcoming political debates that will take place in the upcoming months.

             “Few things affect more Americans than the future of Social Security, and yet it’s an issue most invisible during the current campaign, said AP Washington Bureau Chief Sally Buzbee, who is directing the series.  “This series of stories tires to lay out complex issues in the most accessible way possible.  This is part of the ongoing efforts by The Associated Press this fall to make sure issues [like Social Security] aren’t absent from the campaign, but front and center…”states Buzbee.

             The headline of AP’s first report, published story on the upper fold of the August 6 issue of the Pawtucket Times, warn’s that “Social Security not deal it once was.”  The AP wire story notes that today’s retirees will be the first to have paid more in Social Security taxes during their lifetime careers than they will ultimately receive in retirement benefits once they retire.  Previous retirees paid less payroll taxes but got more benefits.

   Planning Key to Adequate Retirement Funds

             If Social Security bennies are chopped taking personal responsibility in planning your retirement may well become your financial safety net in your later years.

             Economic woes fueled by the worst economic downturn since America’s Great Depression, have left many Baby boomers financially struggling to make ends meet and to save adequately for their retirement years, according to survey findings released in July 23, 2012 by the Consumer Federation of America (CFP) and the Financial Planner Board of Standards.

              According to a 60-page report, conducted by Princeton Survey Research Associates International (PSRAI), nearly two-fifths (38%) of the 1,508 household financial decision-makers surveyed said they live paycheck to paycheck, while less than one-third (30%) indicated they felt comfortable financially and only about one-third (34%) think they can afford to retire by age 65.

             Survey findings indicated that only 31 percent of respondents said they had a comprehensive financial plan, while about two-thirds (65%) indicated they follow a plan for at least one of their savings goals.  Those who have prepared a personal savings plan feel more confident and report more success managing money, savings and investments than those who don’t.

             By a margin of 50 percent to 32 percent, and for all but the lowest income bracket (under $25,000) where few have a comprehensive plan, those planning for retirement are more likely to feel they are on pace to meet all of their financial goals, such as saving for retirement or for emergencies, stated the survey findings.

             Additionally, an even larger margin of 52 percent to 30 percent, and across all income brackets, those planning for their retirement years are more likely to feel “very confident” about managing money, savings and investments;

             Kevin R. Keller, CEO of CFP Board: “Consumers understandably are more nervous about investing their money given recent revelations about financial fraud, manipulation and abuse of clients. This doesn’t mean that people shouldn’t create a financial plan and be prepared.

   Taking Personal Action NOW

             Unless strong political pressure is placed on Congress to act swiftly to enact needed policy changes to fix the nation’s ailing Social Security program, expect political gridlock to continue to block any efforts in both Chambers to come up with bipartisan solutions.   

             Don’t get caught up in the political spins and negative rhetoric as Presidential and Congressional candidates begin their debates on Social Security before the upcoming September primaries and November election.  Become an educated voter and tell the Congressional candidates who seek your vote to seek bipartisan solutions to making the  Social Security Trust fund solvent once and for all. 

             Watch out for AP’s upcoming reports on Social Security to learn more about this important policy issue.  That’s a good first step.  Second, learn more about AARP’s  “You’ve Earned a Say’ initiative (www.earnedasay.org), a web site that can provide aging baby boomers with both factual and straightforward information about retirement policies being debated inside the Beltway by Congress, ones that hopefully will financially strengthen the nation’s Social Security program. 

             But on a personal level, until federal lawmakers get serious about financially shoring up the nation’s retirement program, developing a personal financial plan may well become an effective short-term solution to managing your money, savings and investments that could well supplement a shrinking Social Security check.  One useful tool is the website LetsMakeaPlan.org, allows a person to learn more about preparing a financial plan, including working with a financial planning professionals.

             Herb Weiss is a Pawtucket-based freelance writer who covers aging, health care and medical issues.  He can be reached at hweissri@aol.com