70% of individuals 65 years old will need some form of long term care during their lifetime. For those 70% requiring long term care, the average total cost is estimated at $266,000. About 25% of households have no retirement savings at all, and the median savings for those who do is less than $75,000.
When we think about how much to save for retirement – we inevitably attempt to gauge...Read More
Ambrose was getting on in years, and he missed his wife who had recently died. So he sold the home, put the $100,000.00 in the bank, and moved onto his son Arthur’s farm. Every day Ambrose got up at the crack of dawn to milk Arthur’s cows, and he felt healthy as a horse. So he really didn’t see the need to do any financial planning.
But one day Ambrose fell and broke his hip. Complications...Read More
Congress passed the Tax Cuts and Jobs Act in December of 2017 which is aimed at cutting taxes for corporations and all Americans. While the bulk of the legislation went into effect January 2018, most taxpayers will not see much of a difference in their taxes until 2019, when they file their 2018 taxes. However, there are several important changes seniors need to be aware of now that could...Read More
Long Term Care Payment Options Continue to be Limited
The Wall Street Journal continues to report on the struggles of the long term care insurance market. Why is this important? Long term care insurance was viewed as the middle class solution to affording long term care. Without long term care insurance, options are limited for many individuals approaching retirement. Even with limited...Read More