Have you looked into long-term care insurance but were turned off by high premiums? Perhaps the person who tried to sell you a policy before didn't ask the right questions, or you based the price on what your neighbor or relative pays. You might want to get another opinion. Because with the correct information, it may be possible to get [...]
I have always wondered why people continue to do business with large securities firms that have repetitive history of disregard for their clients and management that consistently places their own profit motive above their clients welfare. Here are just a few more examples from the last few months: December 28, 2012 WASHINGTON ? The Financial Industry Regulatory Authority said Thursday [...]
How much can you expect to pay for long-term medical care? The national average for a private room in a nursing home was over $87,000 per year or $239 per day in 2011. But costs were higher in urban areas, where the average cost often ran 20% more than the same costs in non-urban areas. Those were some of the [...]
If you think you'll have enough income for most of your retirement, you can guarantee your unexpected longevity with 'longevity insurance'. This product is a repackaged deferred annuity which guarantees an income stream starting at a predetermined future time. It warrants your consideration (note that guarantees are based on the claims paying ability of the insurance company). Longevity insurance, a [...]
You want to leave the family house to your three children. But how will that work? If they each have families, they certainly can't share it. And will one have the funds to buy the others out? Once you realize that leaving illiquid assets to more than one child can create more grief than benefit, you want to have a [...]
Selling your life insurance policy is known as making a ?life settlement?. Life settlements are one option for life insurance owners who no longer feel their policy serves their interest and want to sell a life insurance policy. Rather than letting their policies lapse or surrendering them for a mere fraction (perhaps three to five percent) of policy face values, [...]
We use life insurance to meet our family's need in the event of our death. But as we move through different phases of life, we require our life insurance to meet the changes that arise. This is true even through our retirement years. Part of the cost of life insurance includes the insurer's cost of evaluating the risks of insuring [...]
Deciding how to choose a company pension payout can be tricky. You need to keep open to a variety of options to see what suits you best. If you have a life insurance policy on you, here is another way to use it in retirement. At retirement, your pension plan may present several options. You may be able to take [...]
You or your spouse will eventually become less able to live independently. Knowing your options for alternative living arrangements helps you evaluate your long-term care costs (LTC). Here are some options of roughly increasing LTC for you:Living With Your Adult Children You may move into your adult child?s residence - perhaps an accessory apartment attached to it.Home Sharing As an [...]
The Facts About Medicare and Social Security It is especially an American trait to form opinions by what we hear on the TV and read in the paper. Neither of these sources are necessarily factual. The reason people would rather form and stick to their opinions is that it takes a few minutes of work to find out the facts. [...]
The greatest fear of most retirees is the risk of longevity: outliving their money. The meltdown of retirement accounts, rising medical costs, uncertain entitlement programs and higher taxes have added to the risk. Facing 30 years of retirement living on past savings and Social Security benefits is a scary reality. What can be done?
To handle [...]