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Franke Tobey Jones building new skilled-nursing and memory care community

Franke Tobey Jones is in the final months of building a nearly 65,000 square-foot skilled-nursing and memory care building on the retirement community’s campus in North Tacoma.

The building, which is scheduled to open in July, will be home to 43 skilled-nursing residents on the top floor and 28 memory care residents on the lower level.

“This will not be your grandma’s nursing home,” said Christine Hall-Werner, senior director of marketing for Franke Tobey Jones. “One of the main reasons is because it will not look or feel like your standard institutional skilled-nursing facility. The new healthcare center and memory care community” will have “small pods of rooms clustered around open living spaces where residents and family can enjoy quality time together. And nearly all the rooms will be private suites.”

Other features that Hall-Werner said will set the new facility apart include:

• Each resident room will house a locked cabinet where the resident’s medications will be kept. There won’t be medication carts in hallways or a typical nursing station.

• Meals will be prepared on-site and served in dining rooms.

• Patios, abundant windows, plants and water features for a home-like feel.

The building’s architecture is classic Tudor style, an extension of the extensive campus’ look and feel, Hall-Werner said.

A capital campaign in support of the new addition to Franke Tobey Jones has a goal of $5 million. Leaders of the campaign, which started in 2017, announced in April a $1 million donation from Whisper Foundation, part of the Gary E. Milgard Family Foundation. The foundation awards grants to organizations that work to improve quality of life through health and other services.

Additional information about the campaign and suite reservations is available at 253-752-6621 and www.franketobeyjones.com.

Established in 1924, Franke Tobey Jones is a not-for-profit organization that also offers independent and assisted-living communities. Also opening this summer will be a new 16-unit luxury apartment building for independent living. The 47,000 square-feet structure will include underground parking and 10 units with views of Puget Sound.

The apartments, half of which were sold by April, range in size from 1,300 to 1,575 square feet, with monthly rents of $4,600 to $5,000 and an entrance fee between $195,000 and $250,000.

srmedia by — June 6, 2019 in Personal Finance/Consumers

Now that tax season is over, it’s probably a good time to evaluate some financial “best practices” for the rest of the year. A good spring-cleaning can clear out the clutter to let you see a clear path for your future. Social Security is always here to help. Even if you just started working, now is the time to start preparing for retirement. Achieving the dream of a secure, comfortable retirement is much easier with a strong financial plan. Here are some tips.

Tip 1: Start early.

Social Security’s online retirement planning resources are helpful to people at any stage of their career. Our many calculators, Benefit Eligibility Screening Tool, and disability resources are all available at www.socialsecurity.gov/planners. From here, you can read and download publications and also email and share with colleagues, friends, and family. Remember, the earlier you start, the better chance you have at saving what you need.

Tip 2: Be informed.

We’re often asked, “What’s the best age to start receiving retirement benefits?” The answer is that there’s no single “best age” for everyone and, ultimately, it’s your choice. The most important thing is to make an informed decision, based on your individual and family circumstances. To help you make that decision, see our retirement publications at https://www.socialsecurity.gov/pubs/?topic=Retirement.

Tip 3: Estimate the benefits you might get.

Knowing the amount of money you could get is pivotal in planning your finances. With the Retirement Estimator, you can plug in some basic information to get an instant, personalized estimate of your future benefits. Try out different scenarios, such as higher or lower future earnings amounts and various retirement dates to see the various potential effects on your future benefit amounts. Visit www.socialsecurity.gov/benefits/retirement/estimator.html.

Social Security can help you spring into action and take control of your future with the proper planning tools. Share these online resources with friends and family so they, too, will have the tools.

Source: Regional Public Affairs Office of Social Security Administration.

srmedia by — May 22, 2019 in Personal Finance/Consumers
Plans and goals can ease financial worries

Many Americans started 2019 with specific goals or resolutions in mind. While resolutions are often broken where your finances are concerned, they don’t have to be.

Use these tips to tackle 2019 with greater financial confidence:

• Setting goals for the year may actually boost your confidence about achieving them. In fact, those who set a financial goal for themselves in 2017 were more likely to feel that their finances had improved over the course of the year, compared to those with no financial goal, according to research from Lincoln Financial Group. Whether it’s saving more for retirement or paying off a debt, setting a goal is a great place to start.

• Make a plan. It can help you prepare for life’s surprises and face them with confidence. A financial plan doesn’t need to be complicated, but it should cover everything that’s important to you at this specific stage of your life. A financial advisor can provide an objective voice to help you stay focused on your goals while balancing your risk preferences and time horizon. They can also help determine if and when to fine-tune your plan. If you already have a relationship with an advisor, the new year is a great opportunity to schedule time to review your plan and make any necessary adjustments.

• Consider sources of protected lifetime income. Eighty-two percent of pre-retirees are concerned about what will happen to their investments if the market drops. Build diversity into your retirement income plan by incorporating different sources of lifetime income in addition to Social Security. Do you have a pension? Have you considered incorporating an annuity as a portion of your plan?

• Strategize taxes. Recent changes in tax laws have some concerned about how taxes will impact their finances and retirement income this year. Discuss tax-smart strategies with your advisor to help increase your income and keep you on the right track.

Source: StatePoint

srmedia by — May 10, 2019 in Personal Finance/Consumers

Retirement doesn’t have the same meaning for everyone. Some people plan to retire and never work again. Some plan for second careers in occupations that wouldn’t have adequately supported their families, but they do the work for pure enjoyment. Some people, whether by design or desire, choose to work part-time or seasonally to supplement their retirement income.

Retirees (or survivors) who choose to receive Social Security benefits before they reach full retirement age (FRA) and continue to work have an earnings limit. In 2017, the annual earnings limit was $16,920 for those under FRA the entire calendar year. In 2018, it is $17,040. If you earn over the limit, we deduct $1 from your Social Security monthly benefit payment for every $2 you earn above the annual limit. 

In the calendar year you reach FRA, which you can check out at www.socialsecurity.gov/planners/retire/ageincrease.html, you have a higher earnings limit. Additionally, we will only count earnings for the months prior to FRA. In 2017, the limit was $44,880. In 2018, it is $45,360. In the year of FRA attainment, Social Security deducts $1 in benefits for every $3 you earn above the limit.

There is a special rule that usually only applies in your first year of receiving retirement benefits. If you earn more than the annual earnings limit, you may still receive a full Social Security payment for each month you earn less than a monthly limit. In 2018, the monthly limit is $1,420 for those who are below FRA the entire calendar year. The 2018 monthly limit increases to $3,780 in the year of FRA attainment.

Once you reach FRA, you no longer have an earnings limit, and we may recalculate your benefit to credit you for any months we withheld your benefits due to excess earnings. This is because your monthly benefit amount is calculated based on a reduction for each month you receive it before your FRA. So, if you originally filed for benefits 12 months before your FRA, but earned over the limit and had two months of Social Security benefits withheld, we will adjust your ongoing monthly benefit amount to reflect that you received 10 months of benefits before your FRA, and not 12.

Most people understand that if they work while receiving benefits before FRA, their benefit may be reduced. What most people don’t consider in their retirement planning is that we recalculate your Social Security monthly benefit at FRA to credit you for Social Security benefit payments withheld due to earnings over the limit. Explaining the earnings limit is another way that Social Security helps secure your today and tomorrow.

Understanding both the earnings limit and the possible recalculation of your ongoing Social Security benefits will provide an additional perspective on retirement for you to consider.

Kirk Larson is a Social Security public affairs specialist in Washington.

srmedia by — April 23, 2019 in Personal Finance/Consumers