Posts Tagged ‘bills’
Seniors Would Rather Plan to Pay for Funerals Than Long-Term Care
Putting off retirement planning is common among healthy seniors — to the point where a substantial majority of them would rather think about dying than how to plot out their remaining living years. Three-quarters of respondents to a survey from Home Instead, Inc., a home health provider, said they felt more comfortable thinking about funerals…
Read MoreWhere and How Retirees See Themselves Living
Over 80 percent of people aged 50 and over plan on living at home as they age, and 75 percent say that failing health would be a factor that would push them toward residence in an assisted living facility, followed by the loss of the ability to drive at 30 percent. This is according to…
Read MoreBaby Boomers Need Far More Money in Retirement Than They Think
Baby boomers will need far more money in retirement savings than many of them believe, and generally prefer many major metropolitan areas to retire to. This is according to a new survey by Provision Living Senior Communities with over 2,000 respondents in an attempt to determine the ideal retirement scenarios for American seniors. Other highlights…
Read MoreLong-term Care Insurance Grows More Difficult for Seniors to Fund
Options for long-term care (LTC) insurance are diminishing in the marketplace, but a new industry-specific price index has revealed a substantial spread in costs for plans with similar coverage when compared with prior years. According to a new report released by the American Association for Long-Term Care Insurance (AALTCI), a couple in the mid-50s age…
Read MoreRetirees Increasingly Prone to Late-Life Financial Difficulties
Retirees are prone to disruptive late-life financial risks as life expectancy grows, including widowhood, financial mistakes attributed to a decline in cognitive abilities and high out-of-pocket healthcare expenses. This, according to a new brief released by the Center for Retirement Research (CRR) at Boston College. While currently-available research literature indicates that these kinds of financial…
Read MoreAging in Place Top Preference, Community Care Gaining in Appeal
Six in 10 seniors among a random sample of National Health and Aging Trends Study participants far and away prefer to age in place at their own homes either with family or paid assistance, but three in 10 of those surveyed stated a preference to receive care in an assisted living or continuing care retirement…
Read MoreOpinion: Never mind the Social Security increase, seniors are in trouble – here’s why
You might have heard that Social Security checks are going up 2.8% next year, the biggest rise in seven years. That translates into an average benefit of $1,461 a month, up $39. While welcome, it’s necessary to remember that the increase is tied to inflation. Higher payouts will simply enable retirees to keep up with…
Read MoreWhy millions of Americans are still working past the age of 65
Retiring comfortably at 65 is now out of reach for millions of Americans. Tom Coomer was a machinist at the aerospace manufacturer McDonnell Douglas for 29 years, but the plant closed one year before he was due to get his full pension. Now 80 years old, he works as a greeter five days a week…
Read MoreUSA Today: Reverse Mortgages Can Help Manage Retirement Mortgage Debt
Carrying a mortgage into a retirement can present a number of concerns for homeowners, so many experts recommend paying off this debt during the working years. This isn’t always possible though, and experts in a recent NerdWallet article that was republished by USA Today, offered ways to help mortgage-carrying retirees. In the article “Why you…
Read MoreWhen Are You Planning to “Get Old”?
When are you planning to get old? According to a recent study, you’d better move the date back. “Contrary to common belief, many people can live well into their 90s without becoming cognitively impaired, study findings indicate.” – Neurology 2003; 60: 477-480 But statistics are statistics. Let me give you some examples from my own…
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