By Shelley Ocaña, Private Fiduciary
The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a representative market basket of consumer goods and services. The Bureau of Labor Statistics publishes the measures of price change for population groups on an annual basis. Rents go up based on the CPI rates published in January of every year; food prices rise, transportation costs, wages, commodities and all manner of goods and services are increased based on published CPI rates.
The CPI for all urban consumers is known as CPI-U and represents 87% of the US population. CPI for wage earners and clerical workers is known as CPI-W and represents about 32% of the population.
CPI-E (E is for experimental) represents changes in costs of goods and services for a special group of Americans. In 1987 policymakers began calculating the prices of goods and services consumed by a third significant segment of the population – older Americans (62 and above). As our population ages, economic issues facing the senior community have become critical, not the least of which is a disproportionate inflation rate.
Alarmingly, over the past 25 years, the CPI rates for the elderly rose significantly higher than the other two population sectors. CPI-E rose 126.5% from 1982 to 2007 – this largely because the money spent on medical care by senior citizens far out paces the younger population groups. Medical care inflation increased far more rapidly than most other goods and services in the same period. Additionally, seniors spend more on shelter relative to the other population groups. Factor local price index increases into the equation and you have considerable economic issues drastically affecting aging citizens. (Think New York, San Francisco, Los Angeles, Chicago – urban centers where goods and services are already higher than in rural American communities.) Fuel oil and heating costs have outpaced overall inflation during this time period as well. Older Americans spend a higher proportion of their income on fuel oil and heating costs than average consumers, for example.
When planning for retirement dollars needed over the average 30 years of retirement, baby boomers will have to factor in those increased rates, just for the basic costs of living. Fiduciaries budgeting trusts and estates to adequately provide for housing, medical care, care services and myriad expenses associated with retirement years for their clients will be well served to take a serious look at the long term effects of CPI-E.
Belize is one politically stable little Central American country that makes it easy – whether you’re looking for an escape a few months a year or a full-time getaway. It’s easy to enjoy yourself here. With miles of tropical coastline, the second-longest barrier reef on earth, some of the best diving and snorkeling on the planet, lush forests and mountains, immense natural preserves, vast river and cave systems, and a wealth of important Maya archeological sites, there is always something to do in Belize.
THERAPEUTIC CASE MANAGEMENT
By Jennifer Westcott MA, MFTI & Drew Ross MA, MFT
Traditional case management typically involves creating a system of care for the benefit of the individual and/or family unit, providing insight and guidance around issues of safety, transition, health and wellness. Therapeutic case management maintains this creation of a solid care system while working with clients and families from a psychological systems approach. This involves paying particular attention to individual and family dynamics, long-standing patterns of behavior, and environmental and psychological factors. It is this attention and awareness of these components that differentiates therapeutic case management from traditional case management. These components become particularly important when anxiety, depression, and other mental health issues are compounding positive progress and forward movement. This is especially true when working with the elderly population who face the inherent difficulties of aging. Continue reading ‘THERAPEUTIC CASE MANAGEMENT’ »