Healthcare insurance is a crucial aspect of managing one's health and finances. Understanding its basics can help individuals make informed decisions to help them stay healthy without running into unexpected costs. Here are some important points to keep in mind: Types of health insurance: There are different types of health insurance plans, including health [...]
With market volatility and inflation affecting people’s finances, talk about investment strategies and portfolio longevity seems to dominate retirement planning conversations. But one of the most important aspects of retirement is often overlooked in these conversations: healthcare costs. There are many unexpected costs in retirement, but healthcare is one of the largest spending categories on [...]
Even though you're a long time away from needing long-term care, now is the time to plan. An estimated 70% of Americans currently age 65 will need long-term care at some point, and costs can be staggering.[1] If you have a 70% chance of needing long-term care, you should think about how you would like [...]
One of your largest retirement expenses could be your healthcare costs. An average 65-year-old couple retiring today will need an estimated $300,000 to cover their healthcare costs, according to a recent study.[1] Although good health is priceless, it could cost you in retirement. First, know what you can do during the Medicare Fall Open Enrollment [...]
Over 60% of Baby Boomers are more afraid of running out of money than of dying, according to a recent survey.[1] Even retirees who have saved a substantial amount for retirement may be worried about outliving their savings, and there may be good reasons for this. The potential for higher taxes, inflation, and healthcare costs [...]
People are retiring differently today than in the past – just think, will you retire exactly like your parents did? Probably not. Retirement is no longer about the end of a career; it's about the beginning of a new, often quite active phase of life that could last decades. And while this is something to [...]
An average 65-year-old couple retiring today will need an estimated $285,000 to cover their healthcare costs.[1] This doesn’t even include long-term care costs, which can run as high as $253 per day on average for a private room in a nursing home or $119 per day on average for care in an assisted living facility [...]
If you have elderly parents or know someone who does, you already know that there are many hard decisions to make when it comes to long-term care, especially during the pandemic. And figuring out the finances can be even harder. Trends could change in the coming decades, such as moving long-term care into the home, [...]
One of your largest retirement expenses could be your healthcare costs. An average 65-year-old couple retiring today will need an estimated $363,946 to cover their healthcare costs, according to one study.[1] With the Medicare fall open enrollment period starting on October 15th, it’s time to assess your options or start thinking about your Medicare strategy [...]
There is a shift away from providing long-term care services in hospitals and nursing homes to proving them in individuals’ homes. This was happening before the pandemic, but the trend is now accelerating for several reasons. Many nursing homes did not allow visitors for months during the pandemic, understandably leading to many worried families and [...]
