When you are planning for retirement, one of the most overlooked aspects that many forget to consider is long-term care. It is one thing to set aside money throughout your life to cover monthly expenses such as mortgage/rent, groceries, gas, and entertainment. It is an entirely different concept when looking forward at the potential need for long-term care. How would you or your family members pay for a long-term care facility or in-home nurse? As is the case with many things in life, preparation in advance is key. Here are five things to look at regarding long-term care.
Divorcee rates of people over 50 have practically doubled in the past 30 years. This rise in so called “grey-divorce” is due to many factors - not the least of them being the over-50 population is only growing as baby boomers age. Divorce is deeply personal decision that can affect your life dramatically. The last thing you want it to do is lose you your retirement.
There is no greater joy in the summer than taking a vacation. Travel solo or take the family with you; summer is the best time to bring everyone together on a whirlwind trip. However, taking a trip this summer vacation should not mean suffering financially for the rest of the year. Before you hit the road or fly the friendly skies, do your research so you can spend smarter, not just more, this year on your summer vacation.