Tag: Long-Term Care Planning

Market Outlook 2022: Passing the Baton

Dec 24, 2021

holiday stock market outlook
Here is what to expect in the new year.

Our resurgent economy grew at over a 6% pace in the first half of 2021 and is on track for over 5% growth for the year by the time 2021 draws to a close. During the early recovery, we had a hand up from stimulus and policy that saw us through a period of unique challenges. In 2022, the economy may be ready for a handoff, back to a greater emphasis on the individual choices of households and businesses. How smoothly that handoff is executed may determine the course of the recovery. This is our market outlook for what’s to come in the new year. (more…)

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Understanding Long-Term Care

Oct 22, 2021

Doctor Typing
The important question: Are you prepared?

Addressing the potential threat of long-term care expenses may be one of the biggest financial challenges for individuals who are developing a retirement strategy.

The U.S. Department of Health and Human Services estimates that 69% of people over age 65 can expect to need extended care services at some point in their lives. So, understanding the various types of long-term care services – and what those services may cost – is critical as you consider your retirement approach. (more…)

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Eldercare Choices in the COVID-19 Era

Jul 26, 2021

eldercare tree
Exploring your extended care options may be wise at this time

Given the threat of COVID-19, seniors today may be considering their eldercare alternatives with extra caution.

In addition to health factors, the cost can be an issue. According to Genworth’s 2020 Cost of Care Survey, the median annual cost of a semi-private room in a nursing home is now $90,000. A single-occupancy room may cost over $100,000 a year.1 (more…)

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Ways to Fund A Special Needs Trust

Jul 7, 2021

Special Needs Trusts
A look at the different choices and strategies

If you have a child with special needs, a special needs trust may be a financial priority. There are many crucial goods and services that Medicaid and Supplemental Security Income might not pay for, and a special needs trust may be used to address those financial challenges. Most importantly, a special needs trust may help provide for your disabled child in case you’re no longer able to care for them. (more…)

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Life Insurance with Extended Care Riders

Apr 9, 2021

are you covered ltc
As conventional extended-care policies grow costlier, alternatives have emerged.

The COVID-19 pandemic has changed extended-care policies. While the specific policy information varies from company to company, in general, the pandemic has made it more difficult to qualify for extended-care insurance policies. This can be particularly challenging if you’re in a high-risk group.

Around 7 out of every 10 seniors are projected to need extended care during their lifetime, and many of these medical needs aren’t covered by Medicare, Medicaid, or standard health insurance. Unless you have made arrangements for extended care, you are choosing to self insure should you require this type of assistance.1 (more…)

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Understanding Extended Care

Mar 19, 2021

Extended Care
The important question: are you prepared?

Addressing the potential threat of extended care expenses may be one of the biggest financial challenges for individuals who are developing a retirement strategy.

The Administration for Community Living estimates that by 2060, 94.7 million Americans will be aged 65 and older. Of those, it’s estimated that someone who just turned 65 has an almost 70% chance of needing some type of extended care.1,2 (more…)

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Group Life for a Growing Business

Dec 14, 2020

umbrella employee group insurance
Companies adding employee benefits may want to consider it

As companies grow and add employees, they also add employee benefits. Retirement and medical plans can be provided, but what about group life insurance?

Group life on the menu? Owner-operators know that group life coverage can help attract excellent workers, but some are anxious about the cost and suspect they are just “small fish” to insurers. In reality, coverage may be very affordable and include a variety of policy choices. (more…)

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Retirement Blind Spots

Dec 9, 2020

Blind man walking in room of light bulbs
Some life and financial factors that can sometimes be overlooked

We all have our “blue sky” visions of the way retirement should be, yet our futures may unfold in ways we do not predict. So, as you think about your “second act,” you may want to consider some life and financial factors that can suddenly arise. Nobody likes having retirement blind spots

You may end up retiring earlier than you expect. If you leave the workforce at “full” retirement age (FRA), which is 67 for those born in 1960 and later, you may be eligible to claim “full” Social Security benefits. Working until 67 may be worthwhile because it will reduce your monthly Social Security benefits if you claim them between age 62 and your FRA.1 (more…)

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Extended Care. How Much Do You Know?

Sep 14, 2020

Elder Care Tree
Separating some eldercare facts from extended care myths

How much does extended care cost, and how do you arrange it when it is needed? The average person might have difficulty answering those two questions, for the answers are not widely known. For clarification, here are some facts to dispel some myths. (more…)

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What is Critical Illness Insurance

Jun 8, 2020

What is Critical Illness Insurance
What it is, why people opt for it.

Ever hear of critical illness insurance? This isn’t standard-issue disability insurance, but a cousin of sorts. With people living longer, it is a risk management option entering more people’s lives. (more…)

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More Insights

Jan 24, 2022

What is a relationship with a financial advisor worth to an investor? A study by Vanguard, one of the world’s largest money managers, attempts to answer that question. Vanguard’s whitepaper concludes that when an investor works with an advisor and receives professional investment advice, they may see a net portfolio return about 3% higher over … Continue reading “Measuring the Value of a Financial Advisor”

Jan 21, 2022

Information vs. instinct. When it comes to investment choices, many people believe they have a “knack” for choosing good investments. But what exactly is that “knack” based on? The fact is, the choices we make with our assets can be strongly influenced by factors, many of them emotional, that we may not even be aware … Continue reading “Making Investment Choices”

Jan 19, 2022

At some point in our lives, we may inherit a home or another form of real property. In such instances, we need to understand some of the jargon involving inherited real estate. What does “cost basis” mean? What is a “step-up?” What is the home sale tax exclusion, and  what kind of tax break does … Continue reading “Explaining the Basis of Inherited Real Estate”

Jan 14, 2022

With the New Year comes new beginnings, new goals, new challenges, new friendships, and new opportunities. 2021 was an incredible year for the economy and investors, but to us the future remains bright for 2022 and beyond.

Jan 12, 2022

Families are one of the great joys in life, and part of the love you show to your family is making sure that their basic needs are met. While that’s only to be expected from birth through the high school years, many households are helping their adult children well into their twenties and beyond at … Continue reading “Retirement and Adult Children”

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