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
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
Another way to look at Amnesty that may impact your health care in retirement
- Dan McGrath, financial planning, Healthcare Costs, Long Term care, LTC, Retirement, Social Security
Today, the United States is facing a major problem it has yet to encounter in its entire 200 year history, and is one that could possibly alter the economic and political landscape going forward.
Despite what you may think while standing fourteen deep in the express checkout line at the grocery store, the United States doesn’t have enough people.
I understand this may not seem to make much sense, but let’s take a closer look at what we know:Read more
Long-Term Care, the 5 year look back & Medicaid – Things may have changed for your children
- Filial, Filial Support Law, financial planning, Health, Health Care, Health Insurance, Healthcare, Long Term care, LTC, Nursing Homes, Retirement
Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.
Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.Read more