My Comments: Few of us expect to live to be 100, much less much longer than that. What we don’t expect is to find ourselves unable to effectively look after ourselves as the end approaches. Yes, many of us are living longer and longer, but that comes with a significant cost. The projected cost numbers …
Category: Long-term Care
Navigating the Three Economic Phases of Retirement
My Comments: I became a follower of Don Graves, the author of the following article, a number of years ago. His ideas about paying for retirement are very similar to what I’ve attempted to tell clients for almost four decades. As he says below, we pass through different psychological phases during our lives, and especially …
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Millions in life insurance goes unclaimed every year — here’s how to see if you’re owed money
My Comments: As someone licensed to sell life insurance policies for over 4 decades, I know for a fact that many of them go missing. People move, people die, there are no records for family members, sometimes a house burns down. These and for probably dozens of other reasons, a life insurance company is never …
Should your retirement plan include long-term care insurance?
My Comments: This is not a Holiday Season question, but one that perhaps should be addressed as soon as the New Year arrives. Life expectancies are steadily increasing but that doesn’t mean a continued ability to look after yourself without help as the years pass. From the day we reach adulthood, there have been bills …
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5 Needed Documents for Anyone Over 65
My Comments: This article is directed toward younger folks who have elderly family members. It's very relevant for those whose life span is getting shorter. If you have someone like that in your life, you can help them and yourself if you read this carefully. To me it’s difficult to appreciate that a majority of …
Does Putting Your Home in a Trust Protect It From Medicaid?
My Comments: This topic is very relevant for me. Statistically my wife will survive me by ten years. If life plays out that way, she may need help from Medicaid. If our home is in a family trust and I’m gone from the scene, it will be easier for our children as trustees to look …
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Could a Reverse Mortgage Save Your Retirement?
My Comments: No, I am not trying to sell you a reverse mortgage, though I am licensed to do so. I am saying you should NOT dismiss them out of hand. Under the right circumstances, they are a valuable tool. As a disclaimer, you should know that I arranged one for myself in 2015. As …
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Two-Thirds of Americans Are in for a Huge Financial Shock in Retirement
My Comments: My time these days is spent promoting my book, The Dynamics of Retirement, and the complementary online course I created. I consider myself semi-retired. If you're interested, there's an image of the book just to the right on this page. People often fail to realize retirement turns out to be a 25-30 trek …
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The Cost of Long Term Care
One of the existential threats faced by all senior citizens is developing the need for Long Term Care or LTC. It’s when you can no longer perform some of what are referred to as Activities of Daily Living or ADLs. It means there's a need for help from someone else when it comes to things …
Do You Need Life Insurance in Retirement?
My Comments: Too many years ago for me to remember, it was possible to buy what was then known as a ‘single premium life insurance policy”. The only health question was whether you could fog a mirror. If not, it was too late. As a salesman, I’d find people with small or medium sized buckets …
Helping Define Your Financial Future 