Reverse Mortgage Update: Falling Home Prices Plus Insufficient Retirement Savings Make This the Time to Act

You’ve heard about it – you’ve read about it – you’ve thought about it. The idea of a reverse mortgage has been on your “retirement radar” for quite a while, but for some reason you’ve delayed taking action. A pair of recent news articles might just change your mind and persuade you that now is…

If You’re Over 70 ½, there’s a Critical Tax Deadline Looming Just Days Away – and Missing It Will Cost You Plenty

Most people with retirement savings in a tax-deferred account – typically a 401(k) or 403(b) account – know that sooner or later the IRS is going to want their tax money. That’s why the rules governing these accounts allow savers to deposit tax-deferred funds only up to a certain age, after which withdrawals have to…

Kaiser Health News Report: Medicare Cuts Payments to Nursing Homes Whose Patients Keep Ending Up in the Hospital

Nursing home operators across the U.S. are being put on notice by the federal government: if their residents keep winding up in the hospital for reasons that could have been avoided, Medicare plans to hit the nursing homes right in the wallet. At the same time, the feds have announced financial incentives for nursing homes…

Many Retirees are Unprepared for an Unplanned Expense, Experts Say, and the Consequences Can Be Costly

A new study by the Society of Actuaries has shed light on a subject that should be of concern to retirees, according to this recently-published Money magazine article. While many retirees manage their day-to-day budgeting fairly well, a significant percentage are completely unprepared for financial emergencies, and when an unplanned expense comes along, they are…

Kaiser Health News: Feds Order More Weekend Nursing Home Inspections to Uncover Chronic Staffing Shortages

Nursing homes that are operating with unacceptably low weekend staffing are about to get a surprise. An article we just read on the Kaiser Health News website reports that CMS – the Centers for Medicare and Medicaid Services – has ordered state inspectors to begin conducting more unannounced inspections on weekends, when staffing shortages are…

New York Times: Retirement May Actually Cost Less Per Year as Average Spending Declines Over Time

Do you have enough saved for retirement? If you ask the average senior, their answer will likely be no. A steady stream of articles, including some we’ve included here on the AgingOptions blog, contributes to the fear shared by many U.S. adults that they are in real danger of running out of money as they…

Retirement Risks Can Be Eliminated

Retirees Describe Their Biggest Financial Regrets. Will We Learn from Their Mistakes?

“If I only knew then what I know now!” Many of us have uttered those words time and time again when we reflect on all the things we should have done differently decades ago. Nowhere are those “if only” regrets more acute than in the area of finances, especially when it comes to preparing for…

Shocking CDC Report: for the First Time in a Century, U.S. Life Expectancy Declines Three Years in a Row

The last time it happened, the world was at war, and one of history’s worst influenza pandemics was ravaging the country. That’s why health scientists were shocked at the recently released report of U.S. life expectancy from the Centers for Disease Control and Prevention: the CDC survey showed a noticeable drop for the third year…

Woman concerned about retirement

Widows Face Special Financial Challenges, so Couples Need to Plan Ahead

It’s difficult for a married couple to visualize what the future will be like when one spouse has passed away. After all, today you’re both healthy and looking forward to enjoying many years of retirement together – and God willing, that’s what will happen. Nevertheless, at some point it’s a virtual certainty that one of…

Ask Someone Who’s Been There: 8 Things No One Tells You About Caring for a Loved One with Dementia

We’ve said it so many times, it sounds painfully familiar: there may be no tougher task than being a caregiver for a loved one suffering with Alzheimer’s disease or some other form of dementia. It’s an experience shared by more than 16 million Americans, according to the Alzheimer’s Association, who provide unpaid care day in…