Long Term Care Insurance – With the U.S. economic meltdown firmly established, and 401K and IRA savings decimated, folks are now wondering what to do next, especially regarding retirement security and independence.
Americans 45-plus think they know the costs of long-term care services and the ins and outs of long-term care insurance. But most of them are dead wrong.
Anatomy of a Doctor’s Bill
Just how much of the $100 your physician charges for each 30 minutes goes into her pocket? After paying the bills, she gets less than half. This breakdown, according to Robert Lowes, senior editor at Medical Economics:
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Everything you’ve wanted to know about Estate Planning, but too afraid to ask. A New Jersey attorney explains the ins and outs of estate planning. Free podcast teaches all Americans, not just those in the Garden State. And you can listen to it in your favorite P.J.s and bunny slippers…
Retirement planning is an pretty emotional subject. Many people fear they are not saving enough. Others are confused about investment options or they’re unsure if their savings are being invested aggressively enough. Still others may be investing and saving wisely, but they are concerned that they may have started too late. But for everyone, there [...]
Good for you! You’re funding your 401k. So what happens to it if you have a long term care emergency?
“Know Thyself and Thy Situation” is a financial planning rule that applies to accounting for financial events that you absolutely know are going to happen and events that have a probability of happening. We’re talking about both expenses that can and should be predicted and about unpredictable emergencies and catastrophes. Especially, you must insure for your likelihood of long term care, for which there is a 50/50 chance, but only if you plan to live past age 65.
While we often apply the rule to evaluating risk tolerance, it works for all aspects of financial management. Raw numbers mean nothing if you have to go against your established behavior patterns to achieve them.
Do you need to buy long term care insurance if you have $200,000 or less in savings? Many financial planners say no, but that answer may be wrong for you. See why…
Everbody envisions the golden years as a time to relax away from the stresses and strains of working life, but for for many baby boomers it may be a far different picture.
