DavidHunnicutt.com

An Accident Waiting To Happen

The Risks of Becoming Disabled Are Far Greater Than Most People Think…

Most boomers substantially underestimate their risk of suffering a disability that would cause them to miss work for an extended period of time according to a new survey conducted by Harris Interactive on behalf of AHIP.

The survey found that just over a third of boomers think the chances of becoming disabled due to illness or injury is 5 percent or less, a slight majority think the chances are 10% or less, and two-thirds think the chances are 20% or less. In reality, a worker has a 30 percent chance of suffering a disabling injury or illness causing him or her to miss three or more months of work before reaching retirement, according to the Social Security Administration.

The survey also found that 47% of boomers say they are not too concerned about their chances of suffering a disabling illness or injury.

With 80 million boomers residing in the ranks of US workforce, this perspective is a startling insight into how inadequately people understand their risks of getting hurt or sick and how unprepared they really are if such an event were to occur.

To access the report, simply visit this link

Share:

Posted at 5pm on 07/18/08 | no comments | Filed Under: Building a Healthy Workplace

Tossed Overboard

GM Jettisons Healthcare For Retirees…

GM Announced today that it will be eliminating healthcare coverage for its retirees aged 65 and older. Reeling with problems, GM is only the latest entity (in what will surely be a growing list of iconic U.S. companies) to rethink its promises made to employees.

GM’s decision to cut retiree healthcare benefits impacts tens of thousands of retirees–and the move is surely to leave the company with a serious black-eye.

In a recent statement from the UAW, officials expressed their opinion. “We believe that GM is both legally and morally obligated to pay retiree medical benefits [but] the company’s obligation is largely unfunded.”

And that, I believe, is at the heart of the issue.

Too many American companies have made grandiose financial promises to their employees and retirees–promises that they cannot possibly honor.

And for those of us who are still employed, there’s a lesson to be learned in all of this.

Do not believe the primrose, pie-in-the-sky, guarantees that have been made. Every working American, in essence, needs to accept that reality that they are, in fact, being cut loose.

So what needs to be done?

Start developing–and funding–your own strategy for survival in your retirement years. Recent estimates suggest that each of us will need about $225,000 to fund health care in our retirement years.

Sounds like a lot of money? It is. And the journey won’t be an easy one–especially in these economically challenging times.

But if you’re smart, you’ll start saving now.

And while that’s a legitimate option (albeit a painful one) for a lot of us, you still can’t help but feel bad for the GM retirees that just got tossed overboard.

Share:

Posted at 12pm on 07/16/08 | no comments | Filed Under: Building a Healthy Workplace

Food Spackle

Stop The Presses…British Judge Rules That Pringles Are Not Potato Chips

In a verdict that will save Proctor and Gamble big bucks but ultimately cost them some serious credibility, a British Judge ruled this week that Pringles are not potato chips.

Because Pringles are not considered to be a potato-based product, they are exempt from a 17 and a half percent tariff imposed on products imported into the UK that are made from potato, potato flour, or potato paste.

According to the ruling, the reason that Pringles doesn’t measure up as a potato chip is because, well…it’s not. In fact, it is made with baked dough and not potato slices.

Oh yeah, the label.

I guess it’s kind of like the Kennedy’s–we’ll miss that bridge when we come to it.

Share:

Posted at 3pm on 07/15/08 | no comments | Filed Under: Building a Healthy Workplace