Financing Assisted Living by Saving, Planning and Insurance
“In March 2018, the U.S. Census Bureau reported that by 2030, all baby boomers will be over the age of 65, leading to a unique situation in demographics: 20% of U.S. residents will be at retirement age.”
Part of the increase in the number of people who live long enough to be of retirement age, is because life expectancies have increased. The average U.S. life expectancy has increased from 68 years in 1950 to 79 years in 2013, according to the Population Reference Bureau cited in an article from U.S. News & World Report titled “How Should I...
When Estate Planning Takes Place in a Crisis
“Many of us have experienced the unexpected “telephone call” from a hospital or loved one that a sudden negative medical event has occurred, involving a member of your family.”
It’s never a good thing, when you get a call and the person on the other end asks if you are sitting down.
A sudden death or medical crisis can turn your world upside down, especially if the person was not prepared with the right documents says The Union in the article “Estate planning in a time of crisis.” Your heart sinks and questions start flooding your mind. Will...
BIG Retirement Mistakes You Might Make
“Though retirement can be a fulfilling time in people’s lives, it can also be a stressful one. This especially holds true, if you fall victim to the following mistakes, so be sure to avoid them at all costs.”
Most people spend their entire working lives dreaming of retirement. However, when they get there, it’s a new and strange world without fixed schedules or routines. If you make any of these mistakes, reports The Motley Fool in the article “4 Retirement Planning Mistakes You Probably Don’t Even Realize You’re Making,” you might be surprised to find yourself working...
Being an Adult Means You Need an Estate Plan
“Although we typically associate the term “estate” with the ultra-wealthy, estate planning is not just for the rich. Everyone, regardless of family dynamics or financial status, can benefit from having an estate plan—a collection of documents that specify how you want your assets distributed.”
Estate planning has a purpose while you are alive, with medical directives and powers of attorney, as well as when you have passed. That is something most people don’t understand. As described in a recent article in Forbes, “6 Reasons Why You Need an Estate Plan,” most people continue to neglect to put a...
Planning for the Sad Truth of Growing Old Together
you will become a widow or widower at some point.”
If it’s any comfort, there are now some 20 million widows and widowers in America, according to a study from Merrill Lynch and Age Wave that focuses on widowhood, as reported by CBS News’ Moneywatch in “A retirement planning must-do for married couples.” The study, “Widowhood: The Loss Couples Rarely Plan for—and Should” takes a detailed look at what happens, when the first spouse dies.
It should be noted that women are three times as likely as men to be the surviving spouse, since women historically tend to...