Shared Flashcard Set

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ChFC - 352 Financial Decisions for Retirement
Chapter 1
21
Finance
Not Applicable
03/08/2011

Additional Finance Flashcards

 


 

Cards

Term

 

 

 

 

Graying of America

Definition

 

 

Phrase which describes the gerentological concept of population aging

Term

 

 

 

 

Baby Boomer

Definition

 

 

 

 

People born between 1946-1964

Term

 

 

 

 

Active Life Expentancy

Definition

 

 

 

 

 

The measure of the number of years a person can expect to live without a disability.

Term

 

 

 

 

Geriatric Care Managers

Definition

 

 

 

 

Social service professionals with expertise in devising, monitoring, and coordinating care plans for older people.

Term

 

 

 

Rollover

Definition

 

 

 

 

A tax free transfer from one tax qualified vehicle to another.

Term

 

 

 

 

Downsize

Definition

 

 

 

 

Sell residence to free up assets for retirement use while they move to more senior friendly housing.

Term

 

 

 

 

Lentigo

Definition

 

 

 

 

Discoloration or spotting that occurs on the face, backs of the hands, and forearms of people over 50.

Term

 

 

 

 

Activities of Daily Living

(ADL)

Definition

 

 

 

 

Dressing, bathing, self feeding and toileting

Term

 

 

 

 

Instrumental Activities of Daily Living

(IADL)

Definition

 

 

 

 

Light housework, prepare meals, grocery shop, use of telephone, use of transportation, keep track of money or bills, and manage medicines.

Term

 

 

 

 

Fiscal Welfare

Definition

 

 

 

 

An indirect payment made to individuals through the tax system (ie, Retirement Savings Contribution Credit)

Term

 

 

 

 

Social Assistance

Definition

 

 

 

 

Type of social benefit which contains eligibility criteria designed in part to encourage the able-bodied poor to work by providing minimal benefits (ir, SSI)

Term

 

 

 

 

Supplemental Security Income

(SSI)

Definition

 

 

 

 

Benefit program administered by the SSA that pays monthly income to clients who are 65 or older, blind or disabled.

Term

 

 

 

 

Older Americans Act

(OAA)

Definition

 

 

 

 

Law that assists senior Americans in living independently and has generated several topics of importance for lower income clients and others.

Term

 

 

 

 

Respite Care

Definition

 

 

 

 

To enable caregivers to be temporarily relieved from their caregiving responsibilities.

Term

 

 

 

 

Phased Retirement

Definition

 

 

 

 

A reduction in hours and commitments rather than a complete removal from the workforce.

Term

 

 

 

 

Financial Gerontology

Definition

 

 

 

 

A field of study concerned with the dynamics of financial security, well-being, and the quality of life within and across generations.

Term

 

 

 

 

Echo Boomers

Definition

 

 

 

 

People born between 1977-1994 (children of baby boomers)

Term

 

 

 

 

Elderly Dependency Ratio

Definition

 

 

 

 

The number of persons 65 or older per 100 persons of working age )18-64).

 

20 per 100 in 1990

Term

 

 

 

 

Crisis Theory

Definition

 

 

 

 

Views the occupational role as the major source of personal validation.

Term

 

 

 

 

Continuity Theory

Definition

 

 

 

Stresses the persistence of personal identity through the expansion of other roles.

Term

 

 

 

 

The Age Discrimination and Employment Act

(ADEA)

Definition

 

 

 

 

Made it illegal to discriminate against workers over 40 since 1967.

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