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Will you need long term care in old age?

 “Seventeen percent of 65-year-olds will need no long-term care. Almost one-quarter will develop severe needs, requiring many hours of help for more than three years.” “Most older people will fall between those poles, with 22 percent having only minimal needs. The largest group, 38 percent, can expect moderate needs — like support while they recover…

Your complete guide to a succesful and secure retirement

“Investment and personal finance experts Larry Swedroe and Kevin Grogan present uniquely comprehensive coverage of every important aspect you need to think about as you approach retirement, including: Social Security, Medicare, investment planning strategy, portfolio maintenance, preparing your heirs, retirement issues faced by women, the threat of elder financial abuse, going beyond financials to think…

Retirement Caregiver Crisis

A labor shortage in the caregiving market could have widespread implications for families. Nursing homes in Maine, the state with the oldest average age, are having to close down due to not being able to hire enough staff. Other nursing homes throughout the U.S. struggle with keeping qualified staff. This situation does not portend well…

Hybrid long term care policies

Due to the high cost of traditional long term care insurance (LTCI) and the likelihood of substantial premium increases in the future, insurance companies are offering hybrid policies that combine LTC protection with whole life insurance or with an annuity. With these policies the insured can be assured that their beneficiaries will receive a payout…

Hybrid Long Term Care Insurance

Actuaries miscalculated when insurance companies first started selling Long term care insurance (LTCI). As insurance company losses mounted many purchasers faced unaffordable increases in their annual premiums. Rather quickly the number of companies offering LTCI shrunk from about 100 to a dozen as it became clear that the product was not properly priced.Now a variation…

Asset Based Long Term Care Insurance

A new development in the long term care insurance (LTCI) industry is “asset-based” policies  that link long term care (LTC) coverage with a whole life insurance policy or a deferred annuity. Huge premium increases in the early years of LTCI often caused insured to drop their policies because they simply could not afford the much…

Useful Reference & Planning Guides: 2018 Taxes, Long term care, Social Security, & Medicare

Manning & Napier produced four 2-page guides to the latest developments in federal income taxes,  long term care, Social Security, & medicare that are succinct and easy to understand. Check out:  Tax Reference Guide Our new tax guide has everything you need to know about tax reform, and changes to contribution limits and tax rates.…

Who will care for aging Americans if the flow of immigrants is curtailed?

Immigrants play a big and growing part of providing care for America’s elderly parents and grandparents   Gerald F. Seib explains the critical role of immigrants in caring for America’s elderly in The Wall Street Journal (Jan. 28, 2018): How a Heated Immigration Debate Might Affect Grandma’s Care  “America is getting older. Some 10,000 baby…

Long Term Care Insurance: Pros and Cons

“Stiff annual premium increases are making long-term-care insurance unaffordable for some retirees, and the high cost can be traced to few insurers remaining in the market, writes Darla Mercado. Yet, with annual nursing home costs approaching $100,000, such policies may be worth holding on to if possible, she writes.” “Near-retirees wanting to shield themselves from…