Caregiving/Long-Term Care Planning
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Caregivers generally tend to their elderly/disabled family members as a labor of love, but it can also be taxing for them financially and otherwise. These 11 tips can help you manage the financial side of caregiving and keep things under control.
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Studies show caregiving duties begin to take up more and more time as caregivers age. Fortunately, resources are available to help caregivers and their loved ones manage housing, budgeting, driving, and more.
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Description text goes hereHow do you know when loved ones are ready for assisted living? Use these guidelines to help spot the warning signs of aging and illness.
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An integrative caregiving plan can help you contain costs and take advantage of the various planning and health care resources available.
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For most, it is difficult to think about the possibility of needing long-term care. But many will need it. Start the discussion and prepare yourself now, so you do not face a financial challenge later.
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Nobody looks forward to discussing finances and elder care with their parents, but every family needs to do it. These tips will help you start the conversation now and get a plan in place before you urgently need it.
Social security planning
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If you, or someone you know, has lost a spouse, look into the rules and strategies for Social Security survivor benefits. By coordinating these benefits with your own retirement benefit, you may be able to maximize both benefits.
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Wondering how to maximize your Social Security income? It’s not as difficult as you may believe.
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Social Security is more complicated than most people think.
Here are six of the most common questions that come up on Social Security.
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According to a recent study, retirees will collectively lose $3.4 trillion in potential income that they could spend during their retirement because they claimed Social Security at a suboptimal time.
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It is common knowledge by now that if a person applies for their Social Security benefit after full retirement age (FRA), the benefit will include delayed retirement credits (DRCs) of 8% per year up to age 70.
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Changes in marital status always call for a review of the financial plan. As you’re considering how taxes, estate planning, and retirement goals may be impacted by marriage, divorce, or death of a spouse, don’t forget about Social Security and Medicare.
Healthcare
Medicare Planning
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For the past four decades, age 65 marked the time when you would leave your job, start your pension, file for Social Security, and enroll in Medicare. Not anymore.
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An apple a day keeps the doctor away—and spares you the bill for medical services. Does this logic carry over into lifetime health care planning? Can you reduce your lifetime health care costs by staying healthy.
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Health care planning is a sensitive subject that often takes you and your advisor places you don’t want to go. But given rising expenses, no retirement plan is complete without some kind of provision for health care needs.
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Something everyone still working after age 65 should know about is how to appeal the IRMAA.
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Medicare is more complicated than most people think.
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Unlike Social Security, which people tend to think about many years before claiming, Medicare is almost an afterthought.
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COBRA is the temporary insurance that allows people to remain insured for 18 months (or sometimes longer) after leaving employment.