Plan ahead to make your dollars go further Financial planners describe a secure retirement as a “three-legged stool” consisting of Social Security, a pension, and ample savings. But for about 40% of retired adults, retirement income balances precariously on the one skinny leg of Social Security. Someone may end up relying solely on Social Security in […]
With staff shortages and residents’ social isolation, what needs to change in our nation’s nursing homes? Undeniably, the pandemic has exposed vulnerabilities in our nation’s long-term care facilities, including skilled nursing facilities and other communal residential facilities for older adults. Deaths in senior housing due to Covid-19, along with the impact of social isolation, dominated […]Read More
Look outside the box to pay for long-term care Ask someone about their ideal living situation in their golden years, and they’ll likely say they hope to live a healthy, independent life into their 90s. In many cases, though, that’s not the reality. An estimated 17% of adults age 75 to 84 and 42% of adults […]Read More
A buyer’s guide to protecting yourself for future care costs No one wants to think about needing care as we get older, much less about the cost of that care. But, in reality, we may eventually need help managing our daily living — and we will need to pay for that assistance. Long-term care insurance […]Read More
People who are newly diagnosed with Alzheimer’s disease typically experience a tsunami of emotions: disbelief, fear, anger, depression, sense of loss. But after the initial shock, a person can assert some control over the future by creating an action blueprint that will guide the patient and caregivers as the disease progresses. “When someone is still […]Read More
By Susan B. Garland, Kiplinger Retirement Report Childless and divorced, Linda Wiesman, 67, is apprehensive about her future. With two knee replacements, the retired accountant is having trouble negotiating the stairs in her three-story townhouse in Gaithersburg, Md. Wiesman says she and several friends who live in different cities have “seriously thought of communal living” […]Read More
By Kimberly Lankford, Kiplinger’s Personal Finance No matter how carefully you plan for retirement, if you don’t have long-term-care insurance, a catastrophic illness could wipe out your savings. The average private room in a nursing home costs $250 per day — or $91,250 per year — according to Genworth’s 2015 Cost of Care study. The […]Read More
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