The Growing Challenge of Health Care Costs in Retirement
As Americans plan for retirement, many prioritize building a portfolio that supports a comfortable lifestyle in their golden years. However, healthcare costs in retirement remain one of the most overlooked and rapidly escalating financial challenges. With life expectancy increasing, healthcare inflation outpacing general inflation, and the...
A Critical Combo: Life Insurance with Long-Term Care Benefits
An important part of any retirement strategy involves accounting for potential long-term care (LTC) expenses, which can be surprisingly high. The median cost of a private room in a nursing home was $9,733 in 2023, while a full-time home health aide was $6,292 per month.1 If...
Health and Wealth: Longevity in Retirement Planning
Life expectancy is one of the most critical yet often misunderstood factors in retirement planning. Many Americans need to be more accurate in assessing how long they’ll live. The Life Expectancy Misconception Here are some of the factors that influence the estimation of life expectancy: Impact of...
Family Caregivers and Financial Challenges
Family caregivers face not just an emotional responsibility but also a significant financial one. Americans adults who are part of the Sandwich Generation—defined as those who care for both children and aging parents or loved ones, find themselves pulled in two directions. According to a 2020...
Long-Term Care a Vital Component of Retirement Planning
Retirement planning isn’t just about saving for the years when you stop working. It’s also about preparing for the unexpected and planning for the rising healthcare costs. That’s why Long-Term Care Awareness Month is an important reminder to evaluate your retirement plans and ensure long-term...
Planning for Healthcare Costs in Retirement: What to Consider After 50
As you approach retirement, it’s essential to factor in one of the most significant and often underestimated expenses: healthcare. With rising medical costs and the potential need for long-term care, planning for healthcare expenses is crucial to protecting your retirement savings. Approximately half of U.S. adults...
The World According to Poppy: Protecting the Work of a Lifetime
“My wife became ill. She wants to stay at home, but she needs 24-hour nursing care. I’m not sure how long we can afford that.” “When mom got sick, it fell on my siblings and me to care for her. My sister helped when she could,...
How You Can Tackle Long-Term Care Costs in Retirement
As we approach retirement, we must consider the potential long-term care costs. While none of us like to consider needing assistance in our later years when enjoying our prime earning years, preparing for these expenses can provide peace of mind and financial security. Approximately 70 percent of...
The Importance of Long-Term Care Insurance
As we navigate through the busy routines of daily life, it's easy to overlook our capacity to perform everyday tasks such as bathing, eating, and dressing. Yet, the likelihood of losing these fundamental abilities increases. This is where long-term care insurance comes in as we...
Navigating Market Volatility in Your Retirement
Market volatility is an inevitable part of investing, but it doesn't have to be a source of stress as you near your golden years. By taking a strategic and measured approach, focusing on long-term goals, and seeking professional advice, you can navigate market fluctuations with...