The takeaway: Continuing Care Retirement Communities are housing developments that let you age in place, while also providing long-term care if you need it. They are one of the three major types of long-term care insurance you can buy; the other two were discussed in an earlier post. Unless you have money to burn, be … [Read more…]
The takeaway. Health care expenses could be your biggest budget item in retirement. Estimates vary, but over the course of a 20-year retirement, a couple could spend in the $200,000 range–excluding long-term care costs. This post offers action steps to handle these expenses and protect against Medicare cuts. $$$ Last month, Mr. Boomer-Money-and-More got … [Read more…]
The takeaway: The perfect set-up for outliving your money is not knowing where the money goes. Some of you lovable miscreants don’t know where all the money goes. As such, you don’t really know how much income you’ll need in retirement or what expenses will and won’t carry over into retirement. *No problem!* (Almost.) 😉 … [Read more…]
The takeaway: Boomer, beware the retirement replacement ratio. Contrary to belief, it doesn’t help Boomers figure out how much money they need to retire. The retirement replacement ratio may be fine for early- to mid-career workers, but not for Boomers who are on the brink of retirement. This post explains why. Have a look! $$$ … [Read more…]
The takeaway: To not outlive your money you need to know three things. This post covers the first thing: how long you need the money to last. Life expectancy tables, DNA, and X-rays aren’t necessarily destiny. Don’t underestimate how long your money should last. $$$ Greetings, Boomer. Last summer I was eating a family lunch … [Read more…]