Category Archives: Financial

Recognizing the out-of-pocket costs of caregiving

Are you prepared for caregiving costs? The cost of providing care for yourself can be quite staggering but what many people don’t include in their financial planning is the cost of providing care for family members other than a spouse.  A survey by Caring.com found that almost half of all caregivers shell out $5,000 a…

Extended care services can help cut long-term care costs for veterans

In 1999, Congress passed the Veterans Millennium Health Care and Benefits Act.  That act specifically requires that the VA provide an extended care benefits package that includes both institutional and non-institutional benefits.   The government tied many benefits at the VA to income but one that isn’t is Extended Care Services.  Extended care packages include adult…

VA programs provide little known long-term care solutions

The United States has had an all-volunteer military force since the early ‘70s.  In fact, we only had the draft for 35 of our country’s 238 years.  What this means is that while less than 1 percent of Americans now serve in the military, a much larger segment once served.  That segment of the population…

Student debt can take a bite out of your Social Security benefits check

Compounding interest is a magical term when your bank or retirement account benefits.  However, a growing number of older adults are being unexpectedly dinged by forgotten student debt.  According to the New York Federal Reserve Bank, over 16 percent of the $1.2 trillion in outstanding student loan debt is attributed to individuals over 50 years…

Getting a late start on retirement savings doesn’t mean you can’t win the race

Saving for retirement can be a daunting task.  There are student loans, the cost of raising children, the mortgage on your house, health emergencies…the list can seem to be endless.  Click here to see the long list of reasons we don’t save.  If you’re like most Americans, you don’t have enough retirement savings socked away…

Most Americans not saving enough, too many aren’t saving anything

A new survey shows that more than a third of all Americans (36 percent) have nothing saved for retirement.  What’s more bothersome is that 14 percent of people ages 65 and older have no retirement savings and a significant portion of those who are saving aren’t saving enough.  Not surprisingly, younger adults have significantly less…

Study find savers are healthier

Saving for retirement pays back with your health.  At least that’s what a study out of Washington University found.  Workers who save for retirement evidently feel they have a stake in staying alive to enjoy it.  The result, if you’re saving for retirement, you’re probably taking better care of your health.  Researchers found that if…

Seniors get exploited–a lot–and most often by family members

Five percent or more of seniors in the United States are financially exploited (it’s estimated that only one in 44 victims report the crime), most often at the hands of family members.  Financial exploitation is the most frequent form of elder abuse and yet it mostly escapes the examination it deserves.  That’s the findings from…

Grandchildren aren’t as deaf as you think when it comes to financial advice

If you count among the growing population of adults 50 and over and you have an annual income of at least $50,000 and investible assets of $100,000 or more, you may have something you never expected to have—your grandchildren’s ears.  While only about 30 percent of grandparents felt they were a financial influence on their…

The purple plan

Regardless of where you stand on political policies, everyone cares about Social Security.  Nearly all of us will depend substantially upon its ability to pay out some sort of retirement benefit.  However, we are about halfway through a 75 year period in which Social Security needed to be fixed and we are no closer to…