Identifying and addressing various health care costs is an excellent approach to planning for your retirement. Considering that medical expenses during this period of time can quickly pile up, having a ready set of solutions to counter the said costs is essential.
From determining the best Medicare Supplemental Plans to purchase, and learning more about similar retirement tools and policies such as Long Term Care Insurance (LTCI), covering your bases when it comes to healthcare costs is definitely needed in securing the future you deserve.
As such, we’d like to share some of the most recent and informative blog postsand news sites on retirement health costs. Knowing what’s currently being discussed, discovering what’s trending, will help us all in gaining a good perspective on how to plan and prepare for the golden years.
Why grandma and grandpa’s golden years include debt
Reinventing how one sees or defines debt, Matt Fellowes, in a The Hill post, writes about how some boomers consider debt as an asset to hold onto during the golden years. Citing how some retirees choose to keep their mortgages longer in their lives, and how debt can serve as a cushion on spending shocks, the innovative take on debt may very well help one even manage expensive health care costs during the twilight years.
The High Cost of Caregiving
In a Human Resource Executive Online post, Andrew Mcilvaine discusses the heavy financial, mental, and physical toll that family caregivers face. These individuals, who spend most of their waking life – and resources –taking care of a loved one, lose out on opportunities (personal, social, and career-wise) that can be too heavy to bear. And with approximately one in five caregivers looking after a parent or another family member, certain steps need to be also taken to give these people a chance to secure their own futures.
How to help your aging parents avoid future dental problems
Seeing how some boomers take their teeth for granted, a New York Daily News post by Dr. Michael Tischler discusses the importance of dental health during the golden years. Considering the limited dental coverage offered for adults during this period (Medicare does not even cover dental services – it’s an out-of-pocket health care expense), more people need to be aware of how to take both preventive and treatment measure when it comes to their teeth’s health.
Baby boomers fail retirement income quiz
A The Lowell Sun article reveals that boomers need to improve their financial literacy skills and retirement planning. According to the article, an investment quiz conducted by The American College of Financial Services revealed that 74% of the boomer respondents failed. And with only 5% scoring 80% or higher, sadly, more ways to educate and bring about resources to the boomer population needs to be done.
Factories to baby boomers: Please keep working!
More people are working during the retirement years – and this can be a good thing to have in mind! A post by Gene Marks for the Daily Herald reveals that for some companies, having boomer employees is an asset that they’ll gladly hold onto. Considering the experience and work ethics that this generation is known for, having boomer employees can very well keep a company afloat. Additionally, more companies are also creating programs to secure and reward a boomer’s work contribution.
Thoughtful prep can help women avoid these financial pitfalls
Women face unique challenges when preparing for retirement. With higher health care costs (because of longevity) and limited financial resources (primarily because of gender pay gaps) to consider, women have the short end of the stick in securing a comfortable future. Which is why Deka Wiebusch’s post for The Bellingham Business Journal is enlightening – packed with advice on how females can approach the golden years, a comfortable retirement is attainable for women!
The above links prove that there is a need for more boomers to take a proactive approach in preparing for the retirement years. We hope that the links above will help motivate you in securing the future you deserve.
The sense of urgency that one can gain from the links above can help you in comparing and analyzing Medicare Supplement cost in your location, meeting with agents to discover other retirement solutions, and even in gaining the confidence you need in facing the future.
Do you have any thoughts or feedback on today’s health care issues? Any suggestions you want to share in planning for retirement? Or perhaps questions on how to secure a Medicare Supplement Plan? Let us know below!