Looking at Reverse Mortgages? You may want to
Planning for retirement is on the hearts and minds of almost every single Baby Boomer, roughly 76 million Americans. Survey after survey happens to lead to the fact that planning for health care as well as planning for Long-Term Care […]Read more
Women, Retirement and Long Term Care
- Annuities, financial planning, Life Insurance, Retirement, Reverse Mortgage, Women, Women and Investing
Have you ever wondered why nursing home residents are primarily women, and why they never seem to have visitors?
Data confirms this, as according to the Centers for Disease Control and Prevention (CDC), of the roughly 1.4 million Nursing Home residents in 2013, about 67.7 percent or roughly 960,000 were women.
The question that should be asked, is how did it gets this way? Yes, it is understandable that women tend to outlive men in general. The CDC is reporting that the average life expectancy for a person who was 65 years old in 2012 is another 19.3 years: 20.5 years for women, and 17.9 years for men.
Is merely the fact that they live longer the primary reason why women tend to make up the vast majority of residents in nursing facilities, or are there other factors at play? (more…)Read more
Think you will never go in nursing home? You’re probably right, but for all the wrong reasons.
- AMA, American Medical Association, Dan McGrath, financial planning, Healthcare, Healthcare Costs, Long Term care, LTC, New Mexico, Nursing Facilities, Nursing Homes, Retirement
They say invincibility is a trait of the young. It’s a mindset that changes gradually with knowledge, education, and wisdom. It’s also something a person gets over as they become less ignorant later in life. But apparently today, many supposedly older and wiser people still believe they are invincible.
Ask any financial planner worth their weight in salt about trying to help prospective clients and current clients with Long-Term Care planning, and the usual reply from a vast majority of them is along these lines: They will either never need any long-term care, or that they will never go into a nursing facility.
The problem with this invincibility mindset (besides being flawed in its most basic assumption), is when one looks at the data that surrounds this issue. Yes, the logic behind this belief of one never going into a nursing facility is most likely spot on, and the statistics support it. However, being right in this case is because of the completely wrong reasons. (more…)Read more