Suggestions For Managing Income in Retirement

$$$ It is imperative that seniors organize themselves financially to best utilize their incomes in retirement. Set forth below are some suggestions for stretching retirement dollars.

$$$ Are we all aware of the 18/65 account available in all Massachusetts state-chartered banks as mandated by state law? This law provides savings and checking account services essentially free of charge for customers age 18 and under and age 65 and over. The only fee is $5.00 for a bounced check. You want to keep just $25 in your account? No minimum balance required. You want to wire money to a friend or relative? Buy money orders? Stop payment on a check? Did you lose a CD bankbook? You do have to ask--you won't be told! Banks don't have to offer the account unless the customer requests it.

$$$ Shaw's, Stop & Shop and Star Market all have a scan guarantee--if you are overcharged and call it to the cashier's attention, or go to the service desk after you have bought the item, you will get it free. Wait until you have gone through the cash register. You can also check your slip against your order after you get home and if you find any discrepancies bring your receipt and the item for which you were overcharged back to the service desk and get a refund and the item is yours as well.

$$$There are many senior discounts available. Dunkin' Donuts offers a 10% discount. CALDOR'S offers 10% off on Wednesdays. Billy's Roast Beef--10% on Tuesdays. Your hardware store may offer this discount. You have to ask. There are many more. ASK! Early Bird Specials are available in many restaurants.

$$$ Bell Atlantic gives all customers ten free calls to Information a month. If all members of the household are sixty-five years of age or older and they notify the Telephone Business office they get unlimited calls to information. Also, anyone who receives financial assistance from the Commonwealth such as Fuel Assistance, etc. is eligible for various discounts. Again, call the operator and ask to be connected to the Telephone Company business office for further information.

$$$ The Museum of Our National Heritage in Lexington has a number of interesting exhibits. There is no admittance charge, although if you desire you may put a small donation in the box.

$$$ The following free Museum passes are available at the Melrose Public Library to community residents with library cards. You sign up in advance for the passes if they are available.

Children's Museum
Discovery Museums, Acton
Isabella Stewart Gardner Museum
John F. Kennedy Library Museum
MA Audubon
Museum of Fine Arts
Museum of Science
New England Aquarium
Paul Revere House
Peabody and Essex Museum
Society for the Preservation of NE Antiquities
Sports Museum

$$$ The Stoneham Chamber of Commerce sponsors a summer outdoor concert series. All concerts will be held on the Town Hall lawn; in the event of inclement weather they will be moved inside. All concerts are open to the public and are free of charge. Concerts begin at 7:00 p.m. This series is a joint project of the Stoneham Chamber of Commerce and the Town of Stoneham. Unfortunately, publication of this article was delayed, but the summer schedule for the concert series is available in the spring.

$$$ The National Park Services sponsors a delightful series of outdoor concerts at the Saugus Iron Works weekly during the summer months starting July 1st. There is a large natural amphitheater on site. Bring a folding chair and be prepared for a very nice evening.

This is a sampling of suggestions for saving money-I'm sure there are many additional ways.

Hopefully, readers may find some of the above suggestions relevant to their needs.

$$$ PROTECTING YOUR FUTURE. The Attorney General's Guide to Elder Health Care and Finances, is a very informative publication which has been published as a service to the elder community. The Guide will help elders identify issues which affect them and help them decide whether they need to do something about them. It suggests ways of dealing with the issues and of solving problems and will suggest when the advice of professionals is appropriate and how to find such professionals. Lastly, it provides resource materials for the benefit of those who are unsure of where to go for help with their problems. The Attorney General's Elder Hot Line is 1-888-AG-ELDER.

$$$ CREDIT REPORTS: How do I obtain my credit report? You can obtain copies of your credit report from reporting agencies to which creditors subscribe: EQUIFAX, 1-800-685-1111; TRANS UNION, 1-800-916-8800; EXPERIAN, 1-800-682-7654. Under Massachusetts law, you are entitled upon request to one free copy of your credit report per calendar year from each credit reporting agency. Reports should be obtained from all three agencies because their information is not necessarily the same.

$$$ LOCAL TRANSPORTATION: The Melrose Council on Aging offers residents age 60 and over free transportation within Melrose. The van runs Monday through Friday from 9:00 a.m. to 3:45 p.m. Medical appointments may be booked up to three months in advance. Non-medical related rides, such as for shopping, visiting a friend, trip to the bank, etc. may be booked after Thursday, 12 noon, for the following week. However, if you decide on shorter notice that you want to go shopping, call the Council office at 665-4304 and they will make every effort to accommodate you.

$$$ "FISH" (a volunteer service to transport seniors to medical appointments out of town) can be contacted by calling 662-7474.

$$$ The Northeast Massachusetts Regional Transportation Partnership has designed "The Escorted Transportation Program" to provide necessary and affordable transportation to elders with no other means of transportation. Rides are primarily for medical appointments. Currently the majority of rides are to medical treatments at hospitals, physicians' offices and clinics. Rides are provided through a corps of volunteer drivers, using their own vehicles. Clients of this service will be asked to make a voluntary donation to cover part of the cost of the ride. A suggested donation will be based on mileage. Clients will receive a monthly statement from NMRIP. Melrose is a covered town for this service.

$$$ BPL: The Boston Public Library offers free programs Thursday afternoons for seniors entitled "Never Too Late." Call to be placed on the mailing list.

$$$ THE FEDERAL RESERVE Bank has many excellent free programs. Again, call to be put on the mailing list.

$$$ HEALTH MATTERS: If you join the senior group at Boston Regional Medical Center - Stoneham (YEARS AHEAD) which you can do at no charge by phone they will send you a membership card which entitles you to a 25% discount for courses and for the cafeteria and 10% in the gift shop.

$$$ If you are interested in participating in any research studies conducted by USDA/TUFTS NUTRITION RESEARCH CENTER ON AGING call the Recruitment Department at 1-800-738-7555 for further information. A stipend is offered for participation.

$$$ The Boston Globe gives a discount for home delivery to Seniors upon request.

$$$ Frequently oil dealers will offer discounts for prompt payment.

$$$ AARP: For members of the National AARP there are many privilege benefits available to members at over thirty hotel and motel chains, at AVIS, HERTZ, NATIONAL CAR RENTAL and on VIRGIN ATLANTIC AIRWAYS among others. Members of AARP can call 1-800-424-3410 for a free copy of the AARP Directory or for further information about the Purchase Privilege Program you can visit their website at www.aarp.org.

$$$ AAA: The American Automobile Association offers many benefits in addition to road service. Trip Tiks and No-Fee American Express Travelers Cheques. There are many varied participating businesses who give a discount to AAA members including such diverse enterprises as tire distributors, JIFFY LUBE, car wash stations, Anheuser-Busch Theme Parks, whale watches, limousine services, fine chocolates, opticians, florists, tux rentals, etc. Members may call 1-800-222-8252 for a complete listing of participants.

$$$ MBTA PASSES: It is now possible to obtain MBTA SENIOR PASSES by mail. To obtain one, send a 1" by 1" recent photo of the applicant's face, a copy of an ID clearly showing birth date (age 65 or over) and 50 cents (no checks accepted). Allow 2-3 weeks for processing. Walk-in service is also available from 8:30 a.m.-5:00 p.m., Monday-Friday. The MBTA office is located at 145 Dartmouth Street in Boston. The telephone number for the MBTA office is 1-617-222-5976.

1998-1999 SCHEDULE
BURBEEN FREE
LECTURE SERIES

TRAVELOGUES
Color motion pictures presented
personally by the lecturers

Please Take One

LECTURE SCHEDULE

Tuesday - October 13, 1998
         Dr. Dwayne Merry
         "Italy"

Thursday- November 5, 1998
         Woody Thomas
         "A New England Sampler"

Tuesday - March 2, 1999
         John Holod
         "Cuba"

Tuesday - March 16, 1999
         Dale Smith
         "Portugal's People and Places"

Tuesday - April 6, 1999
         Buddy Hatton
         "Bali and the Spice Islands"

Where: Woburn High School (O'Donnell Auditorium)

When:   8:00 p.m. (Doors are open at 7:30 p.m.)
       No tickets or reservations are required.
       Admission is free.
       Children must be accompanied by an adult.
       Cancellations due to the weather will be broadcast
       on radio station WBZ.

$$$ ABOUT THE SERIES...
In 1892, Leonard Thompson, Jr., one of Woburn's prominent citizens, set up a fund to be known as the Burbeen Free Lecture Fund, so named in honor of his great grandmother, Esther Burbeen. Woburn records show there were Burbeens in the town as early as 1660.
The purpose of the fund was to provide, each year, a series of lectures on the most interesting subject of the day, given by the best lecturers available and without cost to those who attend.

September 11, 1998

The Archive

Suggestions For Managing Income in Retirement