April 17, 2019 |
Are Baby Boomers Overconfident About Long Term Care Planning?
Too many baby boomers have looked ahead to plan for their retirement but have neglected how long term care expenses could influence their ability to ...
Learn MoreAre Baby Boomers Overconfident About Long Term Care Planning?
Too many baby boomers have looked ahead to plan for their retirement but have neglected how long term care expenses could influence their ability to have a comfortable life after their working years.
A recent Banker’s Life study found that 74% of baby boomers felt confident in their ability to handle future health care costs, and yet the government estimates that the average cost of long-term care for a retiree in total is $138,000. Up to 80% of respondents in that same Banker’s Life study said they had no money set aside for the retirement health care needs.
For those who did have long term care savings earmarked, the median amount was just $40,000. While most people are familiar with the person who has needed long term care in retirement, and many know that they cannot count on family members or friends for around the clock care, this raises the question of whether or not baby boomers are overconfident.
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Author: ron_rasco
April 16, 2019 |
Could Last-Minute Will Changes or Death Bed Gifts Cause Problems for Your Heirs?
The themes of making a last minute change to your will or changing a gift on your death bed might seem interesting or a great ...
Learn MoreApril 15, 2019 |
What to Remember When Selecting a Minor’s Guardian
A major concern for parents of minor children is who will be appointed in the will to take care of the child if the parents ...
Learn MoreApril 10, 2019 |
Did You Recently Move? You Need to Update Your Estate Planning Documents
If you recently moved to a new location from a different state, you need to make sure that your estate planning documents have been updated ...
Learn MoreApril 8, 2019 |
Estate Planning Cannot Neglect Cost of Nursing Home Care
The cost of nursing home care can be catastrophic for someone who has saved ahead for their retirement. A long term care insurance policy could ...
Learn MoreApril 6, 2019 |
Up to 25% of Long Term Care Insurance Claims Start and End in Assisted Living
Do you have a plan to protect yourself from the costly expenses of long term care? Far too many people avoid making a goal of ...
Learn MoreApril 4, 2019 |
What Are the Duties of a Trustee After the Grantor Passes Away?
There are both practical and legal responsibilities linked to a trustee when the grantor passes away. These include: Locating and reviewing all of the important ...
Learn MoreApril 3, 2019 |
New Jersey Bill Considers Portable IRAs For Retirement Plans
New Jersey may soon join small list of states, including Vermont and Oregon, that enable employees to take their retirement plans with them if they ...
Learn MoreApril 1, 2019 |
How to Avoid Tax Consequences While Leaving Behind An IRA
It may have been in the best of intentions that you decided to leave an IRA behind to a loved one but this can generate ...
Learn MoreMarch 27, 2019 |
Is It Safe to Use A Template for A Last Will and Testament?
Deciding to plan ahead for the future often begins with using a last will and testament, but a simple internet search might make it seem ...
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