Long-Term Care Archives - DR News - News, Retirement, Finance

Don’t Retire Broke! These 5 Overlooked Factors Could Ruin Your Golden Years

Estimating expenses for the distant future, spanning several decades, presents a formidable challenge. The majority of people diligently contribute to IRAs and 401(k)s, with the belief that consistent financial contributions will secure a comfortable retirement. Nevertheless, certain often-overlooked variables exist that influence the calculation of retirement expenses. Being attentive to these five factors can help create a more precise and practical retirement budget. Taxation Aside from the allure of relocating to warmer climates, many retirees …

The truth about American retirement savings

A new report reveals a stark divide in American retirement savings, highlighting the struggle of lower-income households to adequately prepare for their golden years. While overall retirement assets have grown to $36 trillion, a significant portion of the increase is concentrated among higher-income workers, leaving tens of millions ill-prepared for the financial challenges of retirement. According to Anqi Chen and Alicia Munnell of the Center for Retirement Research at Boston College, the median combined 401(k) …

You’ve Been Using Your HSA All Wrong! Discover the Right Way for Retirement

In retirement planning, Health Savings Accounts (HSAs) are a valuable financial tool. Contributions are tax-deductible, earnings grow tax-free, and can be withdrawn tax-free for qualified medical expenses, making it a triple tax advantage. However, the benefits of an HSA extend beyond just covering healthcare costs, especially in retirement. When you turn 65, the rules for using your HSA funds change, providing more flexibility. At this age, you can use your HSA funds for any purpose …

Practical Tips for Creating Liquidity in Your Retirement Income Plan

Retirement planning involves ensuring a comfortable lifestyle and accounting for unforeseen expenses that may arise down the road. One significant aspect is the need for liquidity to cover substantial costs, such as long-term care, as you age. This blog post will explore practical ways to create liquidity within your income plan to address these big-ticket items during retirement. Understanding Long-Term Care Expenses Long-term care refers to services that support individuals with chronic illnesses, disabilities, or …

Here are the 7 Big Retirement Risks to Avoid

In the last several decades, retirement planning has seen a significant transformation. As a result of enhanced health care, people are living longer, and prices have climbed drastically across the board.