Retirement: The Other Economic Gender Gap

Women-retirement-saving-280px

The gender pay gap is a hot topic these days, but it’s not the only economic gender gap. Women also are lagging behind men in building retirement security. Lower pay translates into a gap for women in retirement security, reducing Social Security benefits, pensions, and retirement saving. At the same time, women enjoy greater longevity, […]

Pages: 1 2 3

Fresh approaches to paying for long-term care

long-term-care-280px

Long-term care is a wild card in the deck for any retirement plan. Half of all Americans develop a disability at age 65 or older that is serious enough to need long-term care, and one in six will spend at least $100,000 out of pocket for care, federal data shows. The financial risk is real, […]

Pages: 1 2 3

Bipartisan solutions on long-term care come into view

Long-term-care-sidewalk-150px

Ask Americans what they fear most about aging, and many will tell you it is the possibility of needing nursing care – and not being able to pay for it. They are right to worry. Federal data shows that about half the people who turn 65 today will not have any need for long-term care. […]

Fed rate hike: Start of something good for retirees?

Janet Yellen, chairman, Federal Reserve

The interest rate hike announced today by the Federal Reserve is a major milestone for retirees, who have been caught between a rock and hard place ever since the Great Recession, with zero interest rates and higher-than-average inflation. The Fed’s quarter-point hike in the benchmark federal funds rate is the first in nearly a decade, […]

New findings on long-term care policy lapse rates raise questions

Cancel-150px

Long-term care insurance really is long term: buying a policy commits you to pay premiums over decades. If you stop those payments, thousands of dollars you have already spent might as well have gone down the drain. A new study suggests that is exactly what a sizeable number of policyholders are doing – allowing their […]

New strategies for covering long-term care costs

long-term-care-280-px

You’ve heard the scary statistics: About two thirds of Americans will need long-term care. The average annual cost of a private room in a nursing home is $87,600; the length of stay can run three years or more. Do a few quick calculations, and it’s easy to get very worried about the potential financial impact […]

Pages: 1 2 3

Watch: Making money last in retirement

Morningstar-Investor-Conference-2015-280px

How can you make your money last throughout retirement? I discussed the question as part of a terrific panel at the recent Morningstar Individual Investor Conference. My co-panelists were Christine Benz, Morningstar’s director of personal finance, and financial planner Mark Balasa, co-founder of wealth management firm Balasa Dinverno Foltz. The session was moderated by Adam Zoll of […]

New Medicare coverage of long-term care off to a rocky start

Judith Stein, director of the Center for Medicare Advocacy.

A physical therapist visits Robert Klaiber, 78, weekly to provide a special type of physical therapy that helps alleviate his symptoms from Parkinson’s disease. Klaiber’s wife, Diane, was under the impression Medicare wouldn’t cover the therapy, which costs $500 or more a month. But earlier this month a neighbor noticed an announcement in a retirement […]

Long-term care: Why your location really matters

Genworth-cost-of-care-2014v1

Location, location location: Not only is it key to the value of real estate, it’s also a big driver of the cost of long-term care. A study of long-term care costs in the United States released this week shows that the cost of long-term services and support varies dramatically by location. For example, the national […]

A plea for ‘slow medicine and ‘good deaths’ for the elderly

Katy Butler

Katy Butler wanted her elderly father’s pacemaker turned off, but she couldn’t get a doctor to do it. In 2001, Butler’s father, Jeffrey, suffered a debilitating stroke at age 79. Two years later, his doctor recommended installation of a pacemaker that would help him survive hernia surgery – a decision that seemed harmless at the […]