The takeaway: Medicaid foots the bill for 62% of all nursing home residents. Everybody else is paying over $100,000 a year. To be one of the 62%, you need to know the following four things: 1) Medicaid’s financial requirements, 2) how to find legal help so you can potentially meet those requirements regardless of your … [Read more…]
The takeaway: We just might outlive our money if we don’t *truly* grasp the power of compound interest and ignore the money habits of our peers. Here’s how a single purchase morphed into real money. $$$ I knew what the price tag said, but not what the thing would really cost. Because price never tells … [Read more…]
The takeaway: When they first hit millionaire status, the median household income of millionaires was $89,167. Their household income is less important than the habits these millionaires built to create financial independence. Here are the habits, and how failure to follow them, resulted in the complete derailment of one famous attorney’s retirement. $$$ This post … [Read more…]
The Takeaway: Long-term care research, shown below, indicates that if you need such care, you won’t need it long. But just in case you do, here’s also the latest cost information for getting that care. Don’t be cowed into buying a product that can potentially be financed with better alternatives–discussed here and throughout the long-term … [Read more…]
The takeaway: The perfect setup for outliving your money is not knowing where it goes. This post handily helps you figure where the money went and provides a juicy look at what others your age are earning and spending. Don’t outlive your money! $$$ Part 3 in the Don’t Outlive Your Money Series. (Updated 3/10/21.) … [Read more…]