What You Should Know about In-Home Care

unsplash-bed1bNot every older American ends up in a nursing home or a retirement community. In fact, most older individuals continue to live at home, many with the assistance of some type of in-home care. In-home care can help you remain independent, and delay the need to enter a nursing home or an assisted-living facility. Continue reading

Housing Options to Consider When Planning Retirement

unsplash-home4As you grow older, your housing needs may change. Maybe you’ll get tired of raking leaves from the lawn of the house you bought 30 years ago because you liked its huge, shady backyard. You might want to retire in sunny Florida or live close to your grandchildren in Illinois. Perhaps you will need to live in a nursing home or an assisted-living facility. Sometimes, after considering your options, you may even decide to stay where you are. Deciding where to live is never easy, but if you evaluate your options carefully, you’ll find it easier to live with your decision. Continue reading

How to Pay for Health Care in Retirement

unsplash-breakfastbHealth care in retirement is available from many sources. Government programs (such as Medicaid and Medicare) offer numerous health care benefits. However, you may need to purchase supplemental health insurance or Medigap, as well. Most Americans are eligible to begin receiving Medicare benefits at age 65, but qualifying for Medicaid may require some planning on your part. In addition to these resources, you may also be entitled to military health care benefits if you are a veteran, retired service member, or the spouse or widow of a veteran or retired service member. Continuing care retirement communities and nursing homes also offer health care services for older individuals. Depending on your specific needs and circumstances, you may use any number of these resources during your retirement years. Continue reading

How to Shop for Long Term Care Coverage

pixabay-french-shopbBecause long-term care insurance (LTCI) is a relatively new product, policies are not standardized. This can make it especially difficult to compare policies when you’re shopping for this type of insurance. However, comparing LTCI policies is a lot easier when you know what to look for and follow a few simple guidelines. Continue reading

Use Your Annuity to Pay for Long-Term Care Insurance

unsplash - canoeThe cost of long-term care can quickly deplete your savings and affect the quality of life for you and your family. Long-term care insurance allows you to share that cost with an insurance company. But premiums for long-term care insurance can be expensive, and cash or income to cover those premiums may not be readily available. One option is to exchange your annuity contract for a long-term care insurance policy. Continue reading

How to Live in the Sandwich Generation

unsplash-womanAt a time when your career is reaching a peak and you are looking ahead to your own retirement, you may find yourself in the position of having to help your children with college expenses or the financial challenges of young adulthood while at the same time looking after the needs of your aging parents. Squeezed in the middle, you’re in the “sandwich generation”–a group loosely defined as people in their 40s to 60s who are “sandwiched” between caring for children and aging parents. Continue reading

Caring for Your Aging Parents

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Caring for your aging parents is something you hope you can handle when the time comes, but it’s the last thing you want to think about. Whether the time is now or somewhere down the road, there are steps that you can take to make your life (and theirs) a little easier. Some people live their entire lives with little or no assistance from family and friends, but today Americans are living longer than ever before. It’s always better to be prepared. Continue reading