Let’s say you are wading into the deep water. You think your parent or another older relative needs more care, perhaps at home, perhaps in an assisted living facility or other residence. You don’t know where to turn, which places or agencies to consider. Online, you find a referral service that can provide assistance —…
Since working longer is the key to a secure retirement for the vast majority of older Americans, it is useful to take a look at labor force trends for those under and over age 65 for the last century. This report from Boston College sheds light on a common question individuals and couples face when…
We’re proud of our grandchildren as they grow in knowledge, such as when they first learn their ABC’s. Unfortunately, when we qualify for Medicare, we discover that we have to learn our ABCs all over again, and it’s a lot tougher this time around. See if you’ve got the framework straight for Medicare here…
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When “shallow” Seinfeld character, George Costanza, attempted to get out of his wedding engagement by asking his fiance for a prenuptial agreement she cracked up, laughing in his face. Why? Because George had no assets whatsoever to speak of. He’d have to figure out another ploy for remaining single. But having no assets whatsoever is…
Will or Trust? The issue has been raised as to whether a will or a living trust would be most appropriate in a particular situation. The following is a general explanation which outlines the advantages and applicability for both. © 2011 Rajiv Nagaich Wills and Trusts both accomplish the same goals, but differently.…
The U.S. Congress sets a federal budget every year in the trillions of dollars. Few people know how much money that is so we created a breakdown of federal spending in simple terms. Let’s put the 2011 federal budget into perspective: U.S. Income: $2,170,000,000,000 Federal budget: $3,820,000,000,000 New debt: $ 1,650,000,000,000 National debt: $14,271,000,000,000 Recent…
This week’s debt ceiling deal seems not to have satisfied anyone on either side of the political spectrum. For the Tea Party and fiscal conservatives, the deal to cut $2.4 trillion in spending over the next 10 years does not go far enough. For liberals, the deal calls for too many spending cuts, especially to…
Lawmakers are eying possible changes in Medicare supplemental plans – moves that could increase seniors’ out-of-pocket costs. Traditional Medicare, the federal health program for the elderly and disabled, requires beneficiaries to pay hospital deductibles and a portion of the cost of tests and doctor visits. To protect themselves from those out-of-pocket costs, about 17 percent…
According to the Associated Press-LifeGoesStrong.com poll, 43 percent of boomers polled said they were “very” or “extremely” worried about being able to pay for their medical costs, including long-term care. Almost the same number, 41 percent, said losing their financial independence was a big concern. One significant cost facing new retirees is health care. A…
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