Mar

30

Retiree medical expense costs increase 50% from 2002, Fidelity Investments study shows

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Fidelity Investments this week released their annual estimate of retiree medical expenses for those people who will retire in 2009.
Not surprisingly, the numbers have gone up significantly from last year.  A couple retiring this year will likely spend upwards of $240,000 to cover medical expenses throughout their retirement.  This figure is up from $225,000 just [...]

Mar

24

A new report shows some alarming trends about long term care spending

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Some alarming trends in long term care spending could shed light on the potential need for more people to consider long term care insurance as the primary means to fund expenses.
An analysis of long term care spending done by California based SCAN Foundation concluded that individuals and families contributed over $64 billion in funds to [...]

Mar

17

A little-known government program pays the cost of elder care

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WHAT IF 33% OF ALL SENIORS IN THIS COUNTRY could receive up to $1,949 a month in additional income from the government to help cover their elder care costs? THEY CAN!
Under the right circumstances, a little-known federal program will pay additional income to cover long term care costs for at least 1/3 [...]

Mar

10

What do boomers want in retirement?

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I attended a meeting in New York City last week that focused on what boomers are looking for in retirement.  There was some insightful information which covered a lot of ground.
The information that was shared in the meeting can really be boiled down to three things:

Control
Control
Control

The boomer generation will likely change the nature of retirement [...]

Mar

3

Advisers shouldn’t confuse a plan for long term care with long term care insurance

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As advisers become more comfortable bringing up the subject of long term care as part of the retirement planning process, they should be careful not to confuse a plan for long term care with long term care insurance.
Most of the conversation should be about acknowledging the consequences not planning has on your family, the lifestyle you plan for in [...]