Posts Tagged ‘boomers’
When 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…
Read MoreAmericans More Afraid of Retirement Health Care Costs than Death
Americans of all ages are more worried about future health care costs and their finances than they are about death, according to a recent online survey by TD Ameritrade. Completed by Harris Poll on behalf of TD Ameritrade, the survey “Redefining Aging” asked about 2,000 Americans over the age of 18 for their thoughts on…
Read MoreEven High-Income Seniors Could Face Difficult Long-Term Care Math
The retirement-savings crunch has been an ongoing problem for low- and middle-income seniors, but a new warning from investment research firm Morningstar suggests that even well-off Americans should double-check their retirement calculus. “Very high-income, high-net-worth people can plan to self-fund long-term care costs, though I’d advise them to do the math on long-term care cost…
Read MoreThis retirement expense has hit $100,000 annually — and it’s continuing to rise
This retirement living expense has nowhere to go but up. The annual cost of a private room in a nursing home has cracked the six-figure mark, according to Genworth Financial. The national annual median cost of a private room in a nursing home is $100,375, the insurer found in its 2018 Cost of Care study.…
Read MoreCan Protein Keep You Healthier Longer?
Researchers seeking the elusive fountain of youth are shining the spotlight on protein. Eating more protein may reduce seniors’ risk of disability and help them remain independent longer, a new British study suggests. Dietary protein slows the age-related loss of muscle mass, helping to preserve the ability to do everyday tasks, the researchers said. “Our…
Read MoreHome Equity Crucial to Health Care Planning as Costs Rise 4% Each Year
As health care costs are expected to keep rising, reverse mortgages and other home-equity tapping solutions can play a vital part in planning for health expenses for seniors. HealthView recently released its 2018 Retirement Health Care Costs Data Report, which showed that retirees can expect their health care costs to rise annually by about 4.22%…
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 MoreMoneyWise: Reverse Mortgages Can Help Fund Aging in Place
Seniors have made it known through numerous surveys that they desire to age in place, but keeping the home safe and accessible can require expensive upgrades and improvements. MoneyWise editor-in-chief Doug Whiteman wrote in a recent article ‘How to Find Financial Assistance for Aging in Place’ about the many options out there to help seniors…
Read MoreAlmost 30% of U.S. Households Have Just $1K Saved
Baby boomers and seniors who proactively set up retirement accounts have more than $100,000, on average, in savings than their peers who did not, according to a recent study by personal finance publication MagnifyMoney. But across the entire board, 29% of households have less than $1,000 saved in any type of account. Using data from…
Read MoreBoomers Want to Age in Place with Help from Tech, Upgrades
More than 80% of seniors want to age in place for as long as possible — and they plan to make home modifications and use the latest technology to do so. For the survey Aging in Place or Assisted Living Facility: Where Do Retirees See Themselves Living, the Retirement Living Information Center asked 2,300 adults…
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