In the year 2031, the oldest baby boomers will turn 85. Consequently, this means their risk for aging issues like dementia, serious disability, and long-term dependency will increase exponentially. At the same time, the American Medical Association has reported an increased death rate in the 25 to 64 year age range. All these statistic put together have an important impact on the future of aging America. It means there will [...]
Young and middle aged adults often dream of the day they can finally retire. They sometimes live with the notion that retirement will be far easier than a career-focused lifestyle. While it sounds amazing to not have to work and be able to do what you want, it's not always that easy. Retirement sounds wonderful in theory, and it certainly can be some of the best years of your life. [...]
When Ruth Byock died at age 81, her children didn't expect to find much of importance in her home. Yet what they found took them by surprise. Next to her recipe box, there was a tiny card file. And in it, she had compiled all her important paperwork, account numbers, pending transactions, and other information they would need to settle her affairs and belongings. Losing a loved one is never [...]
We all hope to be remembered once we're gone. When you think of leaving a legacy, do you think solely of the financial aspects? Leaving a large estate to your children is certainly one great way to leave a legacy. However, the amount of money you leave behind is not necessarily the most important part. And whether we like it or not, we are all leaving a legacy. Of course, [...]
There are so many costs associated with aging. We often think of planning for things like long-term care or medical expenses as we age. However, one important expense we often fail to plan for are funerals. Planning for the expenses of funerals is definitely not the most pleasant topic to contemplate. Yet the average funeral cost can go as high as $10,000 or more. Knowing this may put your loved [...]
Are you having trouble understanding Medicare and its many nuances? Rest assured that you’re not alone. It can take some time to understand and find the right coverage for you. You are eligible to enroll in Medicare on the first day of the month you turn 65, unless you’ve already qualified due to a disability. If you don’t enroll when you’re initially eligible, you may have to pay a Part [...]
In the United States alone, 500,000 people will learn they have Alzheimer's disease this year. Not to mention the multitude of other forms of dementia that will be diagnosed. Nobody wants to hear that they or their loved ones have dementia. The continuous and ultimately fatal decline is devastating to go through and to witness. But at the same time, planning for life with dementia can ease the burden. And it [...]
When it comes to senior care, expect the unexpected. Many adult children walk on eggshells, tiptoe around the topic, or avoid it all together. In fact, a recent survey showed just how much of an issue this can be. A shocking 55 percent of family caregivers don't plan on discussing the topic until there is a dire need. In addition, 64 percent of seniors are not budgeting or saving for [...]
Your house contains so many objects collected throughout the years. Most of these objects tell a story or remind you of different memories in your life. Your kids don't necessarily want these objects when you begin to downsize. They hold meaning for you. But most grown children won't want your downsizing if it means they're upsizing.
Contributing to your 401(k) is important when preparing for retirement. In addition, many people begin researching exciting things like the best cities for retirement. On the other hand, there are "not so fun" topics we should all consider like planning for care as you age. Especially if you don't have children who can provide care. Elder orphans are seniors who live with no spouse, children, and little other support. They [...]
