A study out of the University of Missouri found that even if just one member of a senior couple stops driving, both individuals suffer the consequences. Because driving plays such a significant role in the American identity, the loss of independence can affect the emotional well-being of the non-driving partner. According to the study, even…
Health care expenses are a key component to retirement expenses, representing the second highest share of household expenses (behind housing costs). When you are looking at expenses to determine whether you can afford to retire, a new report suggests that health care expenses break down into two categories. The report, put out by the Employee…
Many Americans focus their retirement savings plans almost exclusively upon their 401(k) plans through their employer. But, high fees cost Americans tens of thousands of dollars over the course of their working lives. Those plans have costs that are deducted from your investment each year. According to online financial advisor, FutureAdvisor, a working couple could…
When people think about retirement they usually think about their savings plans or where they’re going to go now that they have so much free time. You hear people say all the time that they are going to spend time with their family or get some fishing in. You might hear them say that they…
Gray divorces, that is divorce between retirement age spouses with long-lasting marriages requires careful consideration and planning by both spouses. Generally, older couples aren’t worried about custody of the kid or kids but instead they need to worry about things like pensions. Roughly 1 in 4 divorces in 2010 occurred to people 50 and older…
You probably know who you are going to leave Grandma’s pie plate to. You might even have plans for the grandchildren to have the summer cabin. But none of that matters if you haven’t take some proper steps to inform others of your intentions. The number one reason that most people die without having proper…
This is a recent question from Elder Law Answers. My aunt lives with me and contributes to paying for bills, maintenance etc. She gave me $35,000 to help me buy the house initially. How do I protect her from losing benefits if she needs help with services and care down the road? Annie As long…
According to the Social Security Administration, nearly 400,000 retired Americans lived abroad in 2013. While that’s not a significant portion of the population, it is a growing trend. As Americans move outside the United States to parts of Asia, Europe, Africa, Central America or elsewhere in order to stretch their retirement benefits, they need to…
Although poverty rates dropped from 35 percent in 1959 to 8.7 percent in 2011, a disproportionate number of those in poverty are women. Elderly women 65 years old and older outnumber elderly men in the same age bracket three to two, making poverty and aging a women’s issue. Normal transitions such as moving from married…
If you are elderly and disabled, stay out of the hospital’s intensive care unit (ICU). It’s expensive for one thing and your health is likely to decline sharply after an ICU stay. That’s not to say don’t go in at all but be aware, the less disabled you are, the better you’ll survive the stay,…
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